Pick a date any date. We’ll run that reverse auction for you. Be careful what you ask for.
A primary reason for unsuccessful reverse auctions is poor planning after the category discovery process during the event setup phase.
There are a variety of areas that require careful consideration as part of the date selection process prior to running a reverse auction or e-procurement event. A significant area of consideration is whether or not sample products will be required and if they are, will delivery of the samples be required prior to the event date or after the event date. The event bid date can also be dependant upon the complexity of the event and whether or not significant detailed information will be required prior to the event in the form of a request for information or RFI. This process may also be used to limit the field of suppliers prior to the actual event bid date which may then be used for further compression in the pricing. Consideration is also required regarding a seasonal items impact on the date you may select to run a reverse auction. As an example the best month to run holiday turkeys even though they are not needed until November may actually be February. Ultimately to keep the supplier community happy and willing to participate again in the future, a date needs to be selected for the award of business and adhered to. Remember that if you are requesting samples after the event, it will have an impact on the award date. The award date may also require review as to existing contract dates, planned product marketing programs, logistics decisions and store replenishment needs as well.
We look forward to and welcome all comments.