Suppliers Don’t Respond to RFPs Because They Think They’re Rigged
A Request for Proposal (RFP) is a reverse auction. Unlike a regular auction in which there is a single seller and an audience of buyers bidding up the price of the item, in a reverse auction there is a single buyer facing a crowd of suppliers bidding down the price (and/or increasing the quality) […]
What Do People Want from Procurement Technology?
“Good marketing is the craft of understanding what people want and need and helping them achieve it.” – Seth Godin What do people want from procurement technology? They want it all. Outcomes If we start with outcomes, they want to make sure that they are buying the right solution for the problem at hand. If you’re […]
Should Supplier Networks Be One-to-Many or Many-to-Many?
Buyers get the most out of suppliers when they make it easy for suppliers to give them what they want. Suppliers want the ability to sell with a fast cycle and low transactions costs to as many potential customers who are a good fit and with whom they can develop deep, long-lasting, collaborative relationships.