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 […]
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 is the exact opposite. […]
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 Matters list of top technology solution providers within Procurement, Sourcing, and Supply Chain. The […]
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 […]
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 will not always be the perfect […]
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 strategies buyers can use to help the entire procurement process […]
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 […]
Online Reverse Auction Solutions and Optimizations Running a reverse auction is a critical part of the strategic sourcing process once you get a feel for how one works. Without having online reverse auction solutions and optimizations and running an eAuction or reverse auction without some direction, you may not be getting the results you want […]
EC Sourcing Group – A Practitioner’s Perspective by Kumar Kannen at Procural: I am going to dig into the fast-evolving world of sourcing technology from a practitioner’s perspective as part of an on-going series. Most reviews that I have seen are too high level and don’t provide enough detail to decide on whether a software […]
How to Master Your Strategic Sourcing Process Suppose you’re new to strategic sourcing, or you’re just taking a look at your strategic sourcing methodology to ensure that you’re following best practices. In that case, you likely are trying to find ways to enhance your process to ensure it runs more seamlessly. You can take a […]