bidding in reverse auctions puts a supplier’s own pricing strategy into a clearer perspective.Ģ. This means that not only do buyers enjoy a big picture view of where all their suppliers stand and what they have to offer, but suppliers also get unprecedented competitive intelligence. Most eSourcing platforms are capable of providing real-time feedback via analytics tools and itemized ranking. Unparalleled transparency through technology Here are some of the top advantages of eSourcing:ġ.
The fact is, however, that eSourcing platforms can facilitate real-time dynamic feedback and foster strategic communication so that it becomes a valuable tool for both purchasers and suppliers.
The apprehension stems from the impression that any level of process automation commoditizes their products and services, and that eSourcing platforms are largely one-sided in favor of the purchaser. The benefits of eSourcing may be clear for buyers, but streamlining the procurement process tends to be met warily by vendors. 5 Benefits of eSourcing for Both Purchasers and Suppliers.
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