Today’s post is by Dave Wenig, Regional Sales Manager at SafeSourcing Inc.
There are many variations of auctions, each with its own particular use. In eProcurement, reverse auctions reign as buyers are seeking lower prices and higher value for the goods and services they require. Within reverse auctions, we see many variations of this theme. Of course, organizations have plenty of options when determining how to go about running a successful reverse auction.
Sellers have many options as well. Auction types that seek to get the highest price for a good or service are plentiful with options like silent auction and Dutch auction being two well-known types. One of the most common types of auction is the English auction. An English auction is one where a seller seeks the highest price that a buyer will pay for the seller’s goods. Here again, an English auction can be modified to take advantage of different options like a reserve price set by the seller.
Organizations often choose to leverage these different auction types, both reverse and forward. At SafeSourcing, we work with our customers to both buy and sell goods and services through our tool suites. Purchasing organizations reap the benefits of the reverse auctions. Sellers enjoy their own customized auction tool.
Regardless of whether you’re buying or selling, your goal is to get the best price and SafeSourcing can help.
Dave Wenig is a Regional Sales Manager at SafeSourcing. Dave or any member of the experienced team at SafeSourcing would be happy to discuss how SafeSourcing can help you reach your buying and selling goals. For more information, please contact SafeSourcing.
We look forward to your comments.