Reverse Auctions for Strategic Sourcing

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The benefits to Procurement Professionals running successful Reverse Auctions

A reverse auction is a type of negotiation process used in Strategic Sourcing, where the auction is initiated by a single buyer that wishes to procure goods or services from many suppliers using an online bidding platform. Suppliers bid anonymously and compete during a fixed time period.

Done right, some benefits of conducting Reverse Auctions are:
  • Faster, realized savings from more negotiated agreements.
  • Reduced administrative cost per agreement.
  • Freed-up time to run additional strategic sourcing events.
  • Increased ability for meeting deadlines, administrative tasks, and opening up competition.
  • Improved process compliance and supplier price transparency

Find and secure new opportunities to deliver greater value

Poorly planned events can lead to no competition, limited bids, no savings, or soured relationships with strategic suppliers. And when you focus on evaluating based on lowest price alone, you could sacrifice on quality, service level and delivery methods. Evaluation and awarding the supplier requires analysis to achieve the best value.
The time and skills needed to run effective sourcing events can be scarce. And delivering value across every category can seem insurmountable, with thin margins, rising costs, unpredictable customer demand and difficult supplier negotiations and relationships.

Article: How innovative spend management solution providers such as Proactis can provide a configurable and secure cloud-based reverse auction platform.

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Proactis Managed Sourcing Services

With Proactis Sourcing Services you can run reverse auctions as an extension of your team. The Proactis Sourcing team becomes your dedicated reverse auction specialists – to build and execute successful online reverse e-Auction events. Your dedicated professionals help your team to develop the competencies and knowledge required to carry out effective reverse auctions and achieve maximum savings to deliver the best possible value when you need to procure high volume goods and services but don’t have the bandwidth to manage it all.

Proactis Managed Sourcing Services provides well-structured processes built on best practices developed from years of experience.

Our proven, full-service approach includes help with every step, from determining the best suppliers to invite, to creating your RFx documents, performing the supplier communication, running the real-time reverse auction and evaluating results for awarding the right supplier.

Benefits of Proactis Managed Sourcing Services include:
  • Real-time savings.
  • Save time and resources on complex, high volume categories.
  • Competitive suppler network to deliver the best value.
  • Transparent and fair processes and prices.
  • Improved organizational productivity, agility and morale.
  • Greater auditability and documentation for better compliance and transparency. 

Is a Managed Service model right for you? 

A managed approach to sourcing is a powerful model for extending the value you deliver and shaping your organization’s growth and future.

Find out if it's right for you
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