Leaving Reverse Auctions in the Dust — Our Second Webinar Today
After the first webinar I’m leading this morning on P2P, I’ll do a second one this afternoon at 1:00 PM CT with ISM (sponsored by Zycus) titled: Leaving Reverse Auctions in the Dust: Discovering a Next Generation of Sourcing Technologies. The ground I plan to cover will attempt to put the evolution of sourcing technologies into perspective. It’s our view that business historians will look back on recent and future decades in procurement and supply chain history by noting how quickly individuals and organizations began to embrace new types of negotiation technologies and philosophies. One of the largest changes that started to occur is when a certain set of more advanced practitioners became comfortable with allowing greater supplier expressiveness while responding to RFPs and RFQs.
Rather than locking suppliers into rigid specifications through sealed bidding or reverse auction approaches, these new models began to embrace and rely on a different line of thinking to maximize potential savings while reducing risk. During the webinar, I’ll explore the evolution of sourcing and negotiation techniques, including how and why new “sourcing optimization” or “advanced sourcing” approaches are quickly gathering steam inside more advanced companies. Specific topics I’ll cover include:
- The context to understand why reverse auction and basic sourcing tools are no longer enough in today’s business climate
- A basic understanding of tools in the sourcing negotiation arsenal and how specific types of technology are best applied in different supply market and category conditions
- The potential results that come from sourcing optimization tools — across different categories of spend including (but not limited to) transportation and packaging, two of the more traditional and popular areas in which to apply optimization
- How and when to apply constraints to award decisions (e.g., split of business, supplier diversity)
- The evolution in sourcing philosophy that must manifest inside procurement organizations to fully leverage the latest sourcing capabilities
- An educational plan to teach your organization how to best take advantage of these new sourcing approaches and capabilities
For those who can’t make it, I’ll make sure to include a post-event post on the material (which we’ll be sharing on the site at some point). And I’m sure ISM will make the recording available as well. But do join us live if you can for Leaving Reverse Auctions in the Dust: Discovering a Next Generation of Sourcing Technologies today at 1:00 PM CT.