In this video, K2 Sourcing provides perspective on reverse auctions for procurement. If you take one thing away from this presentation, it is that a reverse auction is one of many tools to help automate the strategic sourcing and, ultimately, the category management process.
Even in a tough market, smart companies that leverage efficiencies can stay in business and even thrive.
New research from The Hackett Group calculates that rising prices could cut corporate profits by 9%–the equivalent of $150 million for a typical Global 1000 company.
The idea of subcontracting is increasingly getting popular over time due to the fact that companies want to focus on their core business and outsource these additional services to a specialized player that is capable of providing better quality service with higher technical expertise and skilled workforce.