Advancing the Strategic Sourcing Process Through Online Reverse Auctions

Topics:
Ordering Systems,
Sourcing
Tags:
Auction,
Strategic Sourcing
Source:
Perfect Commerce

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Overview: There are three critical components to achieving a successful strategic sourcing process: technology, information, and expertise. Each of these elements has a direct, influential, and mutually beneficial relationship with the others. Few technology-based strategic sourcing tools demonstrate this mutual connection as do online reverse auctions. Because they provide a flexible environment for determining pricing, auctions hold tremendous potential for generating value. This paper explores the role of reverse auctions within the strategic sourcing cycle, and provides guidelines for implementing best practices to help maximize the value of a sourcing event, for buyers and suppliers alike.

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Format: PDF | Size: 177KB | Date: Jul 2004 | Pages: 9

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