HOW TO WIN REVERSE AUCTIONS AS A SUPPLIER

Everyone is talking about Reverse Auctions in the digital Procurement industry. Be it be large software companies in this space and now even startups. While they are effective in certain conditions for buyers, I want to share my perspective on How you can win reverse auctions as a supplier.
It is a common misconception that reverse auctions are an efficient way of negotiation and supercharge the cost-based negotiations! This strategy needs a lot, and I mean, A LOT of prep work before you actually sit down for that golden 30-minute bidding round.
It is also another misconception that buyers are in total control of reverse auction as many suppliers will compete to gain as much business share as they can get by lowering the prices continuously! I do not think this is true and That is why I made this video.
In this video, I will speak about 5 things that you can follow as a supplier to maximize your chances of winning a reverse auction
#Procurement #Negotiation #DataScience

[@artharoundearth4558]

Thanks for the tips!