Learn how to source

An e-Auction is a transaction between sellers (the auctioneers) and bidders (suppliers in the business-to-business scenarios) in an electronic marketplace. It can occur business-to-business, business-to-consumer, or consumer-to-consumer, and allows suppliers to bid online against each other for contracts against a published specification. This kind of environment encourages competition, resulting in goods and services being offered at their current market value. Understanding the concept of a procurement e-auction, as one of the negotiation methods that can be applied, is a key skill for the tactical buyer role. In step 3 of LHTS standard sourcing process the sourcing tactic of the event is decided. The characteristics of the supplier market and the product/service about to be sourced are defined and thereby also the negotiation method (and how to approach the market). But when should e-auction be chosen as a the preferred negotiation method...? In this course the student will learn the most common standard methods and how/when e-auction should be applied.