Bidding in an Online Reverse Auction can feel a lot like casino gambling, and just like playing at gaming tables the situation can quickly spiral out of control. Here are the Top 5 Bidding Strategies to help you stay on track and win the auction while still preserving margins.#1: Start HighMany organizations we have supported
Competing suppliers do not always behave honestly, ethically, or credibly during the Reverse Auction process. As a result, we sometimes see one or more of the following three “dirty-tricks” used in Online B2B Reverse Auctions during the Live-Auction and Post-Auction processes. In each case, the Prospective (non-Incumbent, Challenging) Supplier bids down to an unsupportable price
When preparing strategies for a B2B Online Reverse Auction, or when deciding if your organization should spend the time and effort to participate, the most critical question to ask is this: How likely is the sourcing group to actually change suppliers? Changing suppliers can be a tedious, costly, and risk-laden endeavor, but if the
