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Reviving Reverse Auctions with Scout: It’s all About Smart Supplier Engagement

From the start, our focus at Scout is all about making the business of doing business as simple, effective, and frictionless as possible. And a big part of that is balancing the needs of both our customers and their suppliers. It’s in that spirit of partnership and collaboration that I’m thrilled to share with you… read more

procurement strategy

Don’t Sacrifice Long-Term Value for Short Term Gain: A New Approach to Reverse Auctions

It’s easy to look at sourcing and procurement strategy as a black-and-white, zero sum game. When I win, you lose. And at the center of this dynamic is the assumed trade-off between maximizing savings and supporting supplier relationships. Truly, achieving bottom-line savings and fostering strong supplier relationships are competing priorities of which procurement is well-versed…. read more

Four Ways to Get Results with Reverse Auctions

Simple reverse auctions: Once a sourcing pipe dream, now a reality. We all know that leveraging live pricing drives compelling results, including: 1.  Access to global supplier base 2.  Increased efficiency in the market 3.  Reduction of purchasing costs 4.  Enhancement of the overall procurement process What’s always been less clear is how to leverage… read more

Three Reasons Why You Should Be Using Reverse Auctions

Reverse auctions’ ascent to sourcing fame has been fairly rapid; just six years after their inception in 1995, GE claimed savings of more than $600 million — and net savings of more than 8% — by sourcing through reverse auctions. Their star power has no sign of fading; last year, Australia’s reverse auction scheme led to the… read more

Customer Success Tip: Reverse Auctions

This week is all about reverse auctions. Instead of just telling you how to set them up, we’re going to show you:   Reverse auctions help organizations successfully realize cost-savings without sacrificing quality and supplier relations. In other words, if you’re not using them, you should be. Get the full scoop in our white paper, Reverse Auctions:… read more

Reverse Auctions: The Way Everyone Wins

Reverse Auctions: The Way Everyone Wins. It’s a big statement, but it’s true. Reverse auctions help organizations successfully realize cost-savings without sacrificing quality and supplier relations. For years, they have been a vital piece of the strategic sourcing suite. Despite this, many enterprises have yet to use reverse auctions to their greatest potential. To learn… read more

4 Keys To Killer Auctions (And Happy Suppliers)

Run successful auctions without making suppliers feel like they’ve been forced into a sourcing colosseum. In 1995, AuctionWeb sold a broken laser pointer online for $14.83. Three years later, eBay IPO’d as a $2 billion corporation and the world went auction crazy. In the wake of eBay’s success, the 2000’s saw a boom in online… read more

6 Reverse Auction Do’s and 1 Big Don’t

We recently surveyed over 30 buyers to get a top list of what they consider to be key in running a successful reverse auction. Below is the most common advice we kept hearing from the study group. Do’s: Do: Run an RFI beforehand to make sure you’re getting an Apples to Apples comparison. Do: Get… read more