Why should suppliers be excited to participate in e-negotiation events such as reverse auctions?

March 12th, 2009

Should suppliers be interested in participating in an e-negotiation process when contacted by a solution provider on behalf of a potential new client?

Should suppliers be interested in participating in an e-negotiation process when contacted by a solution provider on behalf of a potential new client?

This authors company places a great deal of value in our Supplier Database which consists of over 300,000 suppliers located around the world in countries like Mexico, Canada, The United States, China Korea and Japan. It may in fact be our most important asset. We believe that well thought out next generation e-negotiation tools can provide significant benefits to both buyers and suppliers whether they are hosting or participating in e-negotiation events.

A few benefits that should drive supplier interest when being asked to participate in e-negotiation events hosted by SafeSourcing are:

1. Easy to use e-negotiation tools limited to a single page view where suppliers can be completely comfortable that their company’s best foot is being put forward to the soliciting company.

2. An increase in new business opportunities through engagements they would otherwise not be exposed to.

3. Clean accurate data relative to the soliciting company and an accurate listing of their event guidelines, specifications, terms, conditions and other information necessary to build an accurate and successful pricing strategy.

4. Best practice training in event participation and strategy development.

5. A clear focus as to what’s important beyond pricing in next generation e-negotiation data such as supplier safety certifications, traceability and environmental practices that can differentiate them from other participating suppliers.

6. Instantaneous reporting of results of the specific e-negotiation event a supplier participates in as well as a detailed supplier feedback questionnaire report.

7. Significant time savings that reduces costs associated with new business development.

8. Industry pricing trends extrapolated from their view of low quote information during the event if allowed by the soliciting company.

9. Use of these tools for their own price compression needs.

We appreciate and look forward to your comments.

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