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Resources Webinars Reverse Auctions 101: An Introductory Demonstration

Reverse Auctions 101: An Introductory Demonstration

Reverse auctions may be one of the most powerful negotiation methods used by strategic sourcing professionals. The focus on cost reduction is always a predominant role for procurement. Reverse auctions allow buyers to obtain 5% to 25% lower costs then they could through traditional negotiation methodologies.

This demonstration will share the research and show exactly why and how it works during the demonstration.

At the same time, reverse auctions are not without controversy and need to be applied with due caution. This Deminar will provide a definition a reverse auction, explain a good reverse auction process, illustrate how to identify good categories for auction, discuss a few reverse auction myths, and lastly provide a quick online reverse auction demonstration of the K2 Sourcing Cloud Sourcing Advanced Application.

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