Reverse Auction Strategies

The eBridge Reverse Auction Strategies Blog provides readers with news and information about how buyers and suppliers nationwide are partnering with eBridge to achieve more effective purchasing through reverse auction services
February 1, 2012 • 12:14pm in eBridge, White Papers 0

The Failing Euro and it’s Possible Impact on Sourcing

There is a great article out on Spendmatter.com about the impact of the falling Euro on sourcing, procurement and supply chain strategies. Procurement professionals have to develop strategies to circumvent the damage the failing Euro has done to the economy. Contracts have to be rewritten, new sourcing strategies developed and currency hedging will be vital for a successful 2012 business year.

To learn more about the falling Euro, read the full series from Spend Matters here:  http://www.spendmatters.com/index.cfm/2012/1/4/20-Ways-the-Falling-Euro-May-Impact-Sourcing-Procurement-and-Supply-Chain-Strategies-Part-1

 

To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com

 

 

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January 31, 2012 • 3:00pm in eBridge, White Papers 0

Jobs or Best-Value Sourcing: Which is Right for You?

The current unemployment rate has everyone looking at where the American jobs are going. As companies strive for best value, jobs are outsourced to lower priced manufacturers. Of course this low cost comes at a price, the loss of American jobs. So which should the procurement professional be more concerned with, the lower price or the possible job loss?

This issue has been debated from every angle, politically to economically. Ideally, the procurement professional should be concerned with the best-value sourcing, whether that is local or global. Saving money on manufacturing parts internationally, may allow the company to add jobs locally in another area. There will always be disagreements where outsourcing is concerned, however don’t allow this issue to undermine what a procurement was designed for. Concentrate on finding the best-value sourcing for your company, and incorporate those savings to enhance your company.

eBridge prides itself on being a fully managed reverse auction service provider. We provide strategic sourcing based on the criteria provided by the buyer. We source for local, national, or global suppliers, based on our buyers needs. We average 36 suppliers to a buyer’s bid, and strive to reach “true market value” on every bid. 

To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com

To learn more about best-value sourcing, read the full article from Procurement Leaders here:  http://blog.procurementleaders.com/procurement-blog/2012/1/23/paul-teague-best-value-sourcing-pure-capitalism.html

 

 

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January 31, 2012 • 1:37pm in Chemicals, City Government 0

eBridge Removes 18% From The Budget of The City of North Miami Beach, FL

The City of North Miami Beach, FL partnered with eBridge to acquire their Norwood WTP Lime Sludge Removal Services. There were 3 participating suppliers with 95 bids placed, creating a competitive bidding environment. The first place bid was reduced 20 times over the 40 minute bid. The bid reached true market value with a spread of 0.57% between the 1st and 2nd place suppliers! The City of North Miami Beach, FL saved 18% on their budgeted value.

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January 18, 2012 • 1:58pm in eBridge, White Papers 0

European Crisis Leads to Local Sourcing

The European financial meltdown has made headlines worldwide, but it is just a small part of the global economic crisis. The devaluation of the Euro has many global businesses wondering if global sourcing is such a good idea. Procurement organizations have to consider the outcome of the volatile currency markets, when considering their supply chain risks. Currency hedging is a difficult game to play in a stable market, let alone in such a risky economic environment. In light of this, global supply contracts are being reevaluated, for more local options. Businesses are buying and selling locally, to avoid the risk of currency inflation loss.   

eBridge prides itself on being a fully managed reverse auction service provider. We provide strategic sourcing based on the criteria provided by the buyer. We source for local, national, or global suppliers, based on our buyers needs. We also average 36 suppliers to a buyer’s bid.  

To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com.

To learn more about the eurozone crisis, read the full article from Spend Matters here: http://www.spendmatters.com/index.cfm/2012/1/10/Adding-the-Eurozone-Crisis-to-the-Reasons-Why-Local-Sourcing-Makes-Economic-Sense

 

 

 

 

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January 17, 2012 • 2:28pm in eBridge, White Papers 0

Is the Economic Crisis Really Just a Technological Transition Period?

The failing economy has almost everyone on edge, waiting to see if the next turn will be for better or worse. The job market is increasing marginally, but not fast enough. The downgrading of the U.S. and several European countries’ credit ratings was a blow to the global economy. The stagnant economic growth looks like a bleak outlook on a prosperous future.

However, there are some who disagree, and say we are just in a transitional period. Technology improves so fast, that man often can’t keep up. As soon as we upgrade our technology, a new invention makes it obsolete. There are some scholars who believe our economy will level out, when people adjust to the new digital economy. When major technological advancements are made, it takes time for their adjustments to be accepted. The current argument is whether or not, once these adoptions are accepted if the economy will then catch up?

Let us know what you think? Do you agree with these thoughts, and we are just in a technological transitioning period? At eBridge we believe in an integration of personal interaction with a technological platform. We provide fully manage reverse auction services, within our platform and our customer service. To learn more about eBridge please contact us at: 1-877-245-8880, or visit our website http://www.ebridgeglobal.com.

To read the entire article, please click the following link: http://www.businessweek.com/finance/can-the-jobsandincome-crisis-end-well-11252011.html

 

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January 17, 2012 • 11:31am in eBridge, School District 0

Third Reverse Auction Bid Gets Amazing Results

A State Education Lottery has successfully been using a reverse auction strategy to purchase its promotional items like pens, cups, and t-shirts with their logo.  The first two auctions came in below budget, but the third bid delivered even more amazing results.  Seven bidders were approved to compete after submitting samples to the agency.  The catalog price for the items was over $150,000 and the State budgeted $129,000 for the purchase.  After an hour of suppliers underbidding each other, the low bid came in at $50,000!  Second place was $51,900 and all seven of the bidders were at least 25% below the budgeted amount.

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January 10, 2012 • 9:08am in Chemicals, City Government 0

The City of Versailles, KY Saves 9.3% on 2012 One Year Chemical Contract

 The City of Versailles, KY ran their 2nd chemical bid through eBridge’s reverse auction system. The City of Versailles, KY needed 12 chemicals, for a 1 year contract. The hour and a half event was extremely competitive, with 16 participating suppliers and 461 bids placed. There were 95 first place turnovers, causing a high/low spread of 0.03% and reaching true market value. The City of Versailles were pleased with the results, and saved 9.3% on their budgeted value.

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December 14, 2011 • 11:28am in eBridge, White Papers 0

Tough Questions Can Save You from Tough Times

During hard economic times, asking tough questions can be a key factor to the success of your business. It is often uncomfortable to ask about the financial health of your business partners, but knowing those answers is vital to your business’ economic health. Buyers and Suppliers must have an honest discussion during the procurement process, or both could face heavy losses with extreme economic consequences.

An excerpt from the article Risk Management Requires Tough Questioning, By Paul Teague, highlights how many business have been affected by this economy over the last few years.

Here is a startling statistic: 49,895 businesses filed for bankruptcy in the US federal courts during the 12-month period ending September 2011. Think that’s a big number? It is – but it’s 14% lower than the number for the 12 months that ended in September 2010. In other words, business bankruptcies in the US have gone down despite a less-than-stellar economy. From a macro-economic perspective, that’s good news. From a micro-economic perspective (that is, your own personal business world), it’s only good if none of your key suppliers were among the companies going bust.

Companies, large and small are doing everything possible to add to their bottom line. They are looking for innovative ways to cut cost, and find true market value for their purchases. Reverse Auction is an exciting method that allows multiple suppliers to bid against each other, allowing the buyer to receive competitive pricing. Purchasing at true market value will allow for a more accurate budget to be developed.

eBridge provides a fully managed reverse auction service, and understands the needs of companies facing financial struggles. Our procurement team would be happy to show you how our process can work effectively with your procurement procedures.

Please contact us at sales@ebridgeglobal.com, or call us toll free at 1-800-245-8880.

To read Paul Teague’s article in its entirety click here: http://blog.procurementleaders.com/procurement-blog/2011/12/12/paul-teague-risk-management-requires-tough-questioning.html?printerFriendly=true

 

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December 14, 2011 • 10:58am in eBridge, Technology 0

15.6% Saving for a Southern Indiana Company on their Flat IDC Wire Cables

A Southern Indiana Company partnered with eBridge for the 3rd time, to procure their Flat IDC Wire Cables. There were 3 participating suppliers in this event, which lasted for 28 minutes. Forty-two bids were placed, with a spread of 7.53% between 1st and 2nd place. The Southern Indiana Company saved 15.6% on their budgeted value, and was pleased with the process.

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December 14, 2011 • 9:27am in eBridge, Higher Education 0

A California State University Saves 32% on Their 1st eBridge Reverse Auction

A California State University, partnered with eBridge to procure their BetaLED Parking and Area Lighting. The event lasted for 41 minutes, with 8 participating suppliers. There were 223 bids placed with 8 first place turnovers, allowing for a competitive bid. The spread between 1st and 2nd place was 3.72%. The university saved 32% on their first budget value, with their first reverse auction with eBridge.

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