Your Guide to Reverse Auctions in 2022 A reverse auction can be a very important tool, and if performed correctly, can affect the supply chain in a positive way. So, what is a reverse auction? A reverse auction is just what it sounds like; it is the opposite of a regular auction. Instead of a […]
Reverse Auction Software Applications: What You Need to Know In all types of reverse auctions, the buyers and suppliers use cloud-based software for the bidding process. But, what does that exactly mean? Read on to learn more. What Is a Reverse Auction? A reverse auction is a type of auction where the buyer and seller […]
How to Get the Most from Reverse Auction Software What Is a Reverse Auction and What Is Reverse Bidding? A reverse auction is an important part of procurement as procurement is vital throughout the entire supply chain. Reverse auctions are becoming more widely used because of their advantages, even for suppliers. A reverse auction is […]
What Is the Reverse Auction Process? With procurement and sourcing, eSourcing is one of the most important pieces. You can’t make products without obtaining goods and services. The trick with sourcing is to get quality products at a lower price to help save money while maintaining solid relationships with your suppliers. Using eAuction software has […]
Types of Reverse Auctions If you’ve ever bought something from an online auction site, you’re well aware that you compete against other bidders to get the item that you want. In procurement, a regular auction works the same way—a buyer will place bids on the seller’s (supplier’s) goods and services. In a reverse auction, it […]
EC Sourcing Group “Top Provider to Know” in Latest Procurement & Supply Chain Rankings Spend Matters Names EC Sourcing Group a Best-in-Class Provider in New Top 50 List MORRISTOWN, NEW JERSEY, UNITED STATES, October 12, 2021 /EINPresswire.com/ — EC Sourcing Group has been named a “Top 50 Provider to Know” in the recently published Spend […]
EC Sourcing Group ranks as a ‘Value’ & ‘Customer’ Leader in Latest eSourcing Benchmarking Study Spend Matters’ newly released Fall 2021 SolutionMap report names EC Sourcing Group a Customer & Value Leader across multiple organization types MORRISTOWN, NEW JERSEY, UNITED STATES, November 3, 2021 /EINPresswire.com/ — For the fifth consecutive year, EC Sourcing Group […]
Why Are Reverse Auctions So Controversial? Like many things in life, a lot of controversy surrounds the practice of reverse auctions because they are often misunderstood. However, those who regularly use them as part of their strategic sourcing methodology understand the relationship between reverse auctions and success in strategic sourcing. Of course, a reverse auction […]
What is a Reverse Auction? Why Do Buyers Like Them? As the process of procurement has become more automated, so has the strategic sourcing process and the components within it. Instead of simple, straightforward auctions or eAuctions where buyers bid on goods and services, today, there are many more options available for different types of […]
Why Do Reverse Auctions Fail? Reverse auctions can play an important role in strategic sourcing, particularly because both buyers and suppliers have complete transparency using this approach. However, even though they may be one of the primary strategic sourcing tools and techniques for some buyers and suppliers, they may fail for others. There are some […]