5 eSourcing Auction Strategies for Cost Reduction
eSourcing auctions are digital tools that can help organizations reduce costs by 18-40%. This article explores five strategies to maximize savings through eSourcing. Key Points 1. Leverage Reverse Auctions for Competitive Pricing Reverse auctions are a powerful tool in the procurement process. They can significantly reduce costs, save time, and increase transparency. Here’s why reverse […]
Transformed Pricing is Key While Comparing Prices of Different Suppliers
Why do we need to transform prices received from suppliers? 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 to be conclusive in […]