5 Reverse Auction Strategies for Strategic Cost Reduction
5 Reverse Auction Strategies for Strategic Cost Reduction eSourcing auctions have evolved from tactical tools to strategic levers for procurement transformation. Organizations using them effectively—often through integrated eSourcing platforms—report savings between 18–40%, along with faster cycle times, higher compliance, and greater transparency. Key Takeaways: Your 5 Strategies Strategy Value Delivered 1. Right Reverse Auction Format […]
Benefits of Transformation Bidding while conducting Reverse Auctions
Why do we need to transform prices received from suppliers during a reverse auction? Procurement teams often face a scenario where they have to compare bids from suppliers that aren’t exactly similar. What do we mean by that? Here are some scenarios where bids received from suppliers aren’t comparable. So if we need reverse auctions […]