The settings chosen for a reverse auction have a tremendous impact on the outcome and strongly influence if the results will be optimized.
This K2 Sourcing demonstration will discuss and show from both a buyer’s and supplier’s perspective specific functions in our Cloud Source Advanced reverse auction application. This includes what to display to suppliers during bidding, different methods of reverse auctions, and timing.
The settings change if you are trying to consolidate the supply base, maximize cost savings, manage total cost across global sources, leverage incumbents, reduce risk, multisource, etc.
Watch this video to learn how to run reverse auctions' that optimize strategic outcomes.
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