Critical Steps to Effectively Engage your Suppliers in Reverse Auction
Source:     Author: Tactica    Publish time: 2022-04-12 17:51    2667 Views

A short 5-10 minute phone call to key suppliers is a great way to gain full support. It’s important to make suppliers feel comfortable in the process. Listed below are some key discussion points for eliminating any supplier hesitation in participating in an event. This information should be reiterated in the Event Invitation Letter included with the event.
1. Briefly communicate company background; event goals; potential value of deal; and event timing
2. Describe the Process
• The sourcing process remains the same but is digitized through Tactica’s eSourcing Tool.
• Cost data will be collected via a online bidding event, and will then be incorporated into a best value decision.
• Suppliers need to register and are recommended to take the interactive self-paced online demo on Tactica.
• Suppliers receive access to the event posted by the buyer. Only qualified suppliers are asked to participate.
• Suppliers who do not register will not be able to participate.
3. Reasons for the new process
• Improves the efficiency of the sourcing process – online Q&A, central data repository, evaluation and bidding tools.
• Enhances communication and collaboration.
4. Participation Guidelines
• Suppliers are chosen to participate based on their ability to meet a common set of service and quality standards.
• Only a selected group of qualified vendors will be invited to participate in the actual bid event.
5. Supplier Benefits
• By competing in an open bid environment suppliers will understand why they won or lost, and where they stand in relationship to their competition. Note that suppliers will not see who they are competing against for the business – confidentiality is maintained throughout the process.
• Contracts can be awarded much more quickly.