The eAuction masterclass
Round table held on 30 July 2020
About this session
Everything you ever wanted to know about eAuctions – but were afraid to ask. Which approach to use? Why? How? Who with?
Which of these do you know? Our expert will explain the difference between an eAuction and Reverse Auctions and provide a checklist of these too!
• Traditional Auction Styles
• Sealed Bid Auction (First Price)
• English Reverse Auction
• Dutch Reverse Auction
• Yankee Reverse Auction
• Contemporary Auction Styles
• Vickrey Auction (Second Price)
• Japanese Reverse Auction
• Brazilian Auction
• Discount Forward Auction
• Multi-Attribute Auction
• Buyout Reverse Auction
• Hybrid Auction Styles
One unavoidable force will be acting upon procurement as we emerge from the lockdown – the demand for SPEED
Either because fast resourcing work is needed - as supplier risk is re-assessed or current suppliers become insolvent. Regardless, eAuctions can help.
Yet, like anything else, you have to think through your objectives and eAuction sourcing strategy.
When planning an auction it is just as important to understand the psychology of each of the bidders as it is to choose an optimal strategy.
Points to consider that affect this may include:
• Complacency of the incumbent
• Value of information provided by the buying party
• Visibility of RFI/P position
• Existing Supplier Relationship
• Product Confidence
• Transition Costs
• Valuation of business by marginal bidders / new suppliers
This webinar session will explain the theory and the practice, plus all the pros and cons, of how you can run your own eAuction or reverse auction successfully inside 30 days
An extensive Q&A session will give you the chance to ask every question in safe environment – submit your question online beforehand, use the CHAT bar, or ask away online yourself.
Your expert facilitator
Ben Shute FCIPS is the managing director of PURCHASING INDEX, a leading Australian procurement spend analysis, analytics & e auction provider headquartered in Melbourne.
Ben received excellent feedback from the previous session he ran on reverse auctions in March.