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of 18–20 percent following the initial auction's completion.

The buyer may award the contract to the seller who bid the lowest price. Or, a buyer may award contracts to suppliers who bid higher prices depending on the buyer's specific needs with regard to quality, lead-time, capacity, or other value-adding capabilities.

The use of optimization software has become popular since 2002 to help buyers determine which supplier is likely to provide the best value in providing

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