Reverse Auctions for Energy Procurement
by Paul Van Erem
on Wednesday, 17 August 2011
Energy Management
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Paul Van Erem
Paul Van Erem is the Director of National Sales and Marketing for Energy Managem
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Reverse auctions are seen as providing a new tool for companies that will help them shave expenses and better document their procurement transactions. If I were a procurement professional, I'm sure I would like reverse auctions because:
- It cuts time and costs of both the product and the process (savings 5 to 15%)
- Companies focus on lowest cost and best value supply relationships; eliminates bias and opens bidding to new suppliers
- Transaction information is standardized, organized, time-stamped and trackable; provides an ability to confirm pricing and leverage previous agreements...
Determine your potential savings!