In the entire supply chain, you, as a company, want to be able to deliver a final product to a buyer. There are many different stops within that supply chain along the way, such as procurement and procurement...
Learn MoreReverse auctions, when conducted properly, can be a massive success as part of procurement management. The role of reverse auctions in strategic sourcing has diminished in recent years but is seeing a...
Learn MoreJust like it sounds, a reverse auction is the opposite of that of a regular auction. If you’re wondering, “what is an e-reverse auction?” it is a step in the procurement process where sellers compete against...
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Even those not involved in procurement or purchasing, are familiar with how a regular auction works. A seller has something they are trying to sell, and a buyer bids on the item. Typically, multiple potential...
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Many companies and corporations turn to reverse auctions instead of forward auctions (which is another name for a typical auction, such as you’d see in real life or on a traditional bidding site). A reverse...
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If you’re using procurement software, you’re most likely running some RFP management software, or in more general terms, eRFx. The “x” allows you to use the technology to have the request be for something...
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Comments Off on How a Reverse Auction Can Benefit Your BudgetGetting involved with online auctions has given your business a wide range of benefits. You feel like you have a better grasp of the products and services you obtain for your company, as well as opening up a...
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Image Credit: pon.harvard.edu Have you considered the power of reverse auctions for your business endeavors? Modern businesses and organizations have many, many more options on the table when sourcing...
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