Why should suppliers want to participate in e-negotiation events such as reverse auctions and on line Requests For Information?

March 27th, 2009

There are a number of significant benefits suppliers receive by participating in e-negotiation events.

There are a number of significant benefits suppliers receive by participating in e-negotiation events.

Quite often when speaking to new suppliers to invite them to participate in a reverse auction or an on line request for information the question comes up; what’s in it for me? This is almost never the case for suppliers that have been involved in the practice before.

Supplier benefits may include but are not limited to the following:

1. Suppliers can accurately represent their company and its capabilities to a buyer or group of buyers.
2. Suppliers benefit from reduced cost of new business acquisition.
3. Suppliers are exposed to more opportunities for new business.
4. E-negotiations bring more potential business partnerships directly to the supplier’s door
5. E-negotiations are transparent and all requirements are clearly defined
6. Suppliers can have access to competitor best pricing during the auction, which helps suppliers position themselves correctly in the marketplace
7. All of the buyers terms and conditions, product specifications, and other pertinent information is clear and concise which allows for accurate quoting
8. Suppliers are introduced to tools they can use in their businesses in order to compress their pricing.
9. Suppliers can instantly submit and modify their bids electronically rather than submitting paper bids, providing a faster, more efficient purchasing process.

The next time a e-negotiation solution provider calls you on behalf of a company requesting your participation in an e-negotiation event, ask to be added to the database and what you have to do to be invited to all events in the future.

We look forward to and appreciate your comments.

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