“Procurement auctions can reduce any costs by 10-30% on average, sometimes even more, but it depends on the details of the set-up, timing, number of vendors, business cycle etc.”
| 1. So, you`ve got a wish to reduce the costs? 💡 |
| 2. Create a procurement auction by following 5 steps ✍️ |
| 3. Invite at least two vendors to submit the bids 📢 |
| 4. The vendors make the bidding live 🤼 |
| 5. The lowest bidder is the winner of the auction 👏 |
| 6. Confirmation and exchange of contacts between the auctioneer and the lowest bidder 🤝 |
| 7. The successful auction’s commission is paid by the auctioneer 🧾 |
| 8. Hoping to reduce costs 🏆 and save money 💰 |
Last updated: 07.05.2023
