7 Keys to a Successful Reverse Auction

Reverse auctions

Reverse Auctions are a great way to generate significant cost savings. According to CNBC, companies are typically saving 10 to 20% by using reverse auctions, but I’ve also seen others quote savings over 30%. However, it’s got to be done right. So, how do you run a successful reverse auction?…

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The gig economy and contingent workers – the new normal

The gig economy

What do you think of when you hear the phrase “workers in the gig economy”? Uber drivers? Freelancers working through apps like Fiverr and Airtasker? Maybe you’re old school and still think of “gigs” as something musicians perform. Yet gig workers are everywhere, including in corporate boardrooms. Marketing consultants, data…

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It’s Time to Think About the Total Cost of Ownership

United symbols of business and environment, achieved though total cost of ownership

‘High quality, affordable products, and services that don’t harm the environment, delivered on demand!’ Sound familiar? That’s the mantra of the modern customer. No longer is it acceptable to sacrifice quality for a cheaper price tag. Nor is it acceptable to cut corners at the expense of the environment and…

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The compounding impact of commercial nous

It feels like just yesterday that I received my first lesson in ‘commercial nous’. That was 25 years ago. At that time, I was a mechanic. The most valuable thing I learnt was not tightening bolts, changing oil, and replacing spark plugs. It was how to look someone in the eye, shake…

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Make or Buy: It’s Time for a Rethink

What is the point of sales departments? To create markets and stoke demand. Sales departments have been a standard part of industry for so long that we sometimes fail to remember that, for much of human history, sales activity was business to consumer. Business to business sales wasn’t a concept…

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Procurement Challenges Facing CPOs

A chain with a weak link, and text asking how resilient is your supply chain

Travel to Australia is down by 60% due to COVID-19. It’s just one of the many blows to the economy caused by the pandemic. This unprecedented drop in GDP is leading to a potentially seismic shift in how procurement is viewed and how it can make organisations across Australia more…

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5 Auction Types You Should Consider in Procurement

5 auction type

Just last year, we published a blog outlining the value of a particular auction type: the reverse auction. It listed 5 benefits, which included: Lower purchasing costs through increased competition The potential to gain better savings than a present ‘target’ amount Time savings through a reduced negotiation phase Increased ability…

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Supply Chain Risk Management: How to Spot Potential Failures

A woman wearing a mask, a Hong Kong protester and a kangaroo trying to escape bush fires all lead to supply chain risk

We live in turbulent times. In the first seven months of 2020, we’ve had bush fires, mass unrest leading to protests in Hong Kong and the US, rising tensions with China that have seen government manufacturing incentives move elsewhere, and, most disruptive, the COVID-19 pandemic. And there’s still five months…

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Negotiation Approaches in Procurement – 4 Key Tips

A man wearing a crown, proud of his negotiation approaches in procurement

The new financial year means new contracts, but are you ready to negotiate? Here are my top tips for negotiation approaches in procurement. Don’t be afraid to walk away You should always be prepared to walk away, no matter how much you’ve already sunk into the negotiation. Don’t get me…

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What part can procurement play in kick-starting the economy?

Melbourne is in lockdown. Again. Many are asking, ‘How did we get here?’. The answer is multifaceted and, unfortunately, procurement played its part. The Conversation recently published an excellent article on the role procurement had in Melbourne’s clumsy hotel quarantining, including its influence on the troubled private security industry. We…

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