7 Myths of Reverse Auction

Thursday, June 30, 2011

7 Myths of Reverse Auction

Everyone familiar with reverse auction knows that there is a large amount of opposition out there facing those who believe in this process. Everyone in the purchasing industry – whether they have been directly involved with reverse auction or not – has formed a positive or negative opinion through the years based on their particular experience with reverse auctions, as well as their relative perceptions of the industry as a whole. This article from Supply Excellence does a great job of addressing many of the key objections to the reverse auction model.

At eBridge, we believe that all of the myths/objections to reverse auction listed in this article can be addressed professionally and appropriately, creating an end result that is beneficial to both the buyer and suppliers in a purchasing transaction.

We understand that many people have either had a poor experience with reverse auction, or are opposed to it because of what it can be. However, we believe that the reverse auction purchasing model can actually be beneficial to almost any business model when applied through our professional and respected team of experts. We do our part to run purchases with integrity, and with respect towards both the buyer and suppliers – maintaining key relationships that every company desires, and creating value not solely through pricing.