1 / 20

Enhancing Business Through Reverse Auctions

Enhancing Business Through Reverse Auctions. Glenn Richardson GovConNet Member Meeting November 14 , 2012. Reverse Auction. What is a Reverse Auction?.

ace
Download Presentation

Enhancing Business Through Reverse Auctions

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Enhancing Business Through Reverse Auctions Glenn Richardson GovConNet Member Meeting November 14, 2012

  2. Reverse Auction

  3. What is a Reverse Auction? “A real-time online competitive bidding event where the buyer sends out a request for quotation and suppliers bid on the business, decreasing their selling prices until optimally a true market price has been reached.” -- Dr. Tobias Schoenherr

  4. What is a Reverse Auction? “A type of e-auction that is conducted online, in real-time, between a single buying organization and pre-qualified suppliers. Suppliers compete in presenting bids to the buyer… whose specifications for design, quality, delivery, and related terms and conditions have been clearly defined.” -- Institute for Supply Management

  5. Simply Put… RA’s are auctions that enable sellers to bid down prices for their goods and services.

  6. Reverse Auction: Advantages… • For Buyers • Increased small business utilization • Optimized efficiencies • Realized savings • Documented results • Compliant

  7. Reverse Auction: Advantages… • For Sellers • Access • Accessibility • Real opportunities • Transparency • Standardization

  8. RA’s in Public Sector – Additional Benefits • Determine supplier selection without rounds of negotiations • Disseminate information easily • Reduce inventory levels/costs due to quicker cycle times • Enhance transparency

  9. Public Sector Drivers: Why RA’s? • Budgetary and staffing challenges • A push for openness • Advancements in technology

  10. DepSecDef Ashton Carter: “Doing More Without More”

  11. Who uses Reverse Auctions?

  12. Partial List of RA Providers in Public Sector • Ariba • BidSync • eBridge • Exostar • FedBid • iASTA • OnDemand Sourcing • Sorcity

  13. Fed·BidMar·ket·place/fed/ /bid//ˈmärkətˌplās/ Noun:1. The online portal where government buyers go to procure commodity products and simple services 2. A managed network of 50,000+ qualified sellers - and growing 3. A Reverse Auction Model that makes real time competition possible. Synonyms: innovative. simplified. effective. proven.

  14. The Reverse Auction Process 14

  15. FedBid Opportunities

  16. Maximizing Small Business Utilization US Army Example: FedBid Awards under SAT ($3k to $150k) Small Business $102,905,401 85% 85.54% 85.54% 15% Large Business $18,484,306

  17. How Can I Get Access? • Register • www.FedBid.com • Cage Code & DUNs • Setup Profile • Buy view preferences • Email Preferences • Bid • Find a Buy • Place your Bid • Lead/Lag • Rebid if you choose

  18. Reverse Auctions…The Future “Reverse auctions have a become a best practice for procurement across the corporate landscape, not as a way to squeeze suppliers to reduce costs, but as a way to automate the negotiation process… For both sides of the procurement equation, reverse auctions today offer a streamlined way to communicate and collaborate …” -- Dr. David C. Wyld

  19. Discussion/Q&A

  20. For Further Information • Glenn Richardson • glenn.richardson@fedbid.com • (202) 320-9762 • Zach Ennis • Zach.ennis@fedbid.com • (703) 839-7005

More Related