Transformed Pricing helps in comparing dis-similar suppliers image

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 themselves, then they cannot be applied in such scenarios. This can be a challenge for companies trying to establish reverse auctions as a norm for supplier negotiations. The way to address this is via Transformed Price bidding. How does that work? The bids placed by