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.
As businesses strive to reduce costs and become more efficient, procurement and strategic sourcing professionals will sometimes come across opportunities to merge multiple projects. This aggregation can occur when two or more departments or divisions within the company are sourcing a similar category, or when a supplier has the capability to provide multiple desired services.
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I didn’t sleep good last night and was cranky when I got to the early class at the gym this morning. I was feeling sorry for myself when in walked Marie in scrubs. She had worked all night in the ER and looked beat. She wanted to get a workout in before going home to eat and sleep for the day before getting ready for another overnight shift. Then I saw John in his sheriff’s uniform. A guard at the local county prison, he also wanted to get in a workout before going home. I felt kind of stupid. These friends were on the front lines last night when I was just tossing and turning.