Reverse Auction 101:

The focus on cost reduction will become next year’s predominant goal 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 15-minute 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.

The last 15-minutes will be an open question and answer session a K2 Sourcing advisor. Ask general questions or focus your category and we will share relevant case studies from past reverse auctions. Join us to see how you could be capturing 5% to 25% more savings faster than normal negotiation methodologies.

Register to see how you could be capturing 5% to 25% more savings faster than normal negotiation methodologies.