| Enterprises of all sizes
are discovering the significant benefits of Internet-based procurement,
as it replaces inefficient manual purchasing procedures, reduces costs
by automating and expediting the process, connects buyers with suppliers,
and increases transparency and collaboration.
This Procurement Reverse Auction process, where Suppliers compete
by participating in a downward price auction bidding for the order
in real time is suitable for large volume, not technically complex
products which have a fragmented Supplier base and for which the
switching costs are not very high.
Our process is rigorous and we train the existing suppliers on bidding
and rules of the auction. Our procurement experts along with the
buyer, decide on the auction parameters such as opening price, reserve
price, strategizing of lots and rules of the auction event. The actual
event is run by our procurement experts along with the operations & technology
teams, at Indiaengineering. Our Online Reverse auctions capture and
record all bids placed by the suppliers along with the time and message
history during the bidding process. A complete bid history is available
to the buyer for future analysis. In short, we do all that is required
to make the auction a success.
Procurement Auctions at
Indiaengineering are of two types : |
