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Coupa presents their perspectives on running a reverse auction to achieve great results.  Use this as a helpful checklist to make sure you have your bases covered.  As you may already know and as Coupa points out:

 “A reverse auction is like a standard auction (also called a forward auction) except instead of several buyers submitting increasingly higher bids to one seller, several sellers submit increasingly low bids to one buyer. Running a reverse auction saves buyers time and money by engaging all potential suppliers simultaneously in a fast-paced highly structured contest for your business. Reverse auctions should be a key piece of any sourcing program”.

Full Article: Coupa


Image Courtesy of Geralt

 

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