CHESAPEAKE, Va. (June 20, 2002) — An online competitive bidding firm saved the City of Chesapeake nearly $100,000 this year on tire purchases for city vehicles, according to a press release.
Orbis Online Inc. approached the city last year with information on its “reverse auction” process for businesses and government agencies to obtain lower bids on procurement contracts.
Chesapeake's 2001 tire contracts were worth about $325,000, but in 2002 were reduced by $99,541 or 28.5 percent, according to the Orbis release.