“As a procurement executive who has been working in the industry for over 20 years, I vividly remember my first encounter with e-auctions. It was in the early 2000s, and I was working for a large manufacturing company that was looking to purchase a significant amount of raw materials for our production line.

My first encounter with e-auctions.

Traditionally, this process involved a lot of manual work, including identifying potential suppliers, sending out requests for quotes, and manually comparing the bids. It was a time-consuming and often frustrating process, and there was always a risk that we might not get the best deal.

However, my team and I decided to explore the use of e-sourcing as a way to streamline the process and increase transparency. We partnered with a software provider and set up our first event.

I remember feeling a mix of excitement and nervousness as the auction began. We had a number of suppliers bidding in real-time, and the platform was automatically tracking and analyzing the bids. It was an entirely new way of conducting business, and it felt like we were at the forefront of a major technological shift.

At the end of the auction, we were able to secure a deal that was significantly better than what we would have been able to achieve through traditional methods. It was a game-changer for our procurement process, and we continued to use e-auctions for a variety of categories, including raw materials, services and categories all the way to office supplies.

Some key learning I want to send:

• Embrace innovation: By exploring new technologies like e-auctions, procurement departments can streamline processes, increase efficiency, and save money.
• Be open to change: The introduction of e-auctions represented a major shift in how procurement was conducted. By being open to this change, the company was able to reap the benefits of this new technology.
• Don’t be afraid to take risks: Implementing new technology always involves some level of risk. However, by carefully planning and executing the e-auction process, the procurement team was able to minimize the risks and achieve a successful outcome.
• Focus on transparency: E-auctions provide a high level of transparency that traditional procurement methods often lack. By using this technology, the company was able to increase transparency and reduce the risk of unethical practices.
• Continuously improve: E-auction technology has continued to evolve over the years, becoming more sophisticated and powerful. Procurement departments should continuously evaluate and improve their processes to take advantage of these advancements and stay ahead of the curve.

Looking back, that first encounter with e-auctions was a turning point for me as a procurement executive. It opened my eyes to the power of technology and the potential for innovation in procurement. Since then, I have been a strong advocate for e-sourcing in general and specifically e-auctions and have continued to explore new ways to use technology to improve procurement processes and drive value for my organizations.”

Per.-Erik Karlsson, retired Procurement Executive

Do you remember your first encounter with e-auctions?

Dear Readers,

As a procurement professional, I’m always eager to hear about the diverse experiences of others in this dynamic field. Today, I’m reaching out to you to share your first encounter with procurement e-auctions.

Whether you’re a seasoned procurement professional or someone who recently stumbled upon e-auctions, your story is valuable. How did you feel during your first e-auction? What challenges did you face, and what lessons did you learn? Your insights could be incredibly beneficial to others who are just starting or looking to improve their e-auction strategies.

Please share your stories in an email. I look forward to reading about your journeys and learning from your experiences! The stories will be shared in a coming blogpost to the benefit of future buyers.

Best regards,

Fredrik Axelsson

Are you ready for your first encounter with e-auctions?

Learn How to Source are excited to invite you to our specialized courses focused on Procurement E-Auctions.

E-sourcing and e-Auctions are revolutionizing the procurement process, offering a faster, more transparent, and cost-effective way to source goods and services. Understanding how to navigate and leverage e-auctions effectively is crucial for any modern buyer seeking to optimize their procurement strategies.

Mastering Procurement E-Auctions

Welcome to the world of procurement e-auctions, where cutting-edge technology meets strategic sourcing. In today’s rapidly evolving business landscape, traditional procurement practices are being revolutionized by digital solutions, and e-Auctions have emerged as a powerful tool to optimize procurement processes. This comprehensive course package on procurement e-Auctions aims to equip you with the knowledge and skills to leverage this dynamic platform and achieve significant cost savings, enhance supplier relationships, and drive operational efficiencies.

Course Overview:

The course on procurement e-Auctions is designed to provide professionals like you, who are responsible for purchasing goods and services, with a deep understanding the confection between category strategies an online procurement auction as negotiation method, best practices, and considerations when setting up an e-Auction. Through a combination of theoretical concepts, practical case studies, and blog posts, this course will empower you to navigate the intricacies of conducting successful e-auctions and maximize value for your organization.

Key Learning Objectives:

• Understand the Fundamentals of e-Auctions: Explore the core concepts and principles of e-auctions, including types, processes, and essential terminologies. Grasp the benefits and challenges associated with e-Auctions in procurement.
• Design Effective e-Auctions: Learn how to develop customized e-Auction execution based on your Category’s specific requirements. Discover various auction formats, bidding rules, and supplier qualification criteria to optimize outcomes.
• Prepare for E-Auctions: Dive into the critical pre-auction preparation phase, including supplier selection, data collection, specification development, and establishing auction parameters. Gain insights into supplier engagement and communication strategies to ensure a smooth auction experience.
• Conducting Successful e-Auctions: Master the art of creating robust auction events, including setting up bidding rules, pricing structures, lotting strategies, and auction timelines. Explore techniques to foster healthy competition among suppliers and manage auction dynamics effectively.
• Supplier Relationship Management: Understand the significance of maintaining strong supplier relationships in the e-Auction process. Learn how to engage suppliers, handle objections, and establish mutually beneficial partnerships for long-term success.
• E-Auction Software and Tools: Meet Medius and their  online sourcing platform
• Connect your Category Strategy with e-Auction negotiation format. 

Benefits of the Course:

• Acquire comprehensive knowledge of e-auction concepts and strategies.
• Enhance your procurement skills and become a proficient e-auction expert.
• Potentially unlock significant cost savings and achieve improved procurement outcomes.
• Strengthen supplier relationships through effective communication and collaboration.
• Streamline procurement processes, optimize efficiency, and reduce cycle times.
• Gain a competitive edge in the digital procurement landscape.

Embrace the digital transformation of procurement and harness the potential of e-Auctions to drive tangible business results. Join our procurement e-Auction course to gain the expertise needed to excel in this rapidly evolving field. Equip yourself with the knowledge, skills, and confidence to navigate the world of digital procurement and unlock new  value for your organization. Let the bundle Procurement E-Auction be your first encounter with e-Auctions.

At Utbildning Inköp you can learn in Swedish about LHTS’ courses.