Reverse auctions represent a sourcing strategy many distributors will be forced to cope with in the coming years ' a situation likely to upset many wholesale distribution executives. This conclusion comes from the new Facing the Forces of Change: The Road to Opportunity report (available from the National Association of Wholesaler-Distributors here.
Strategic sourcing is a process by which customers gather and use information about their own spending patterns to reduce purchasing costs. Strategic sourcing initiatives aim to counter the field-level sales and marketing efforts of wholesale distribution sales reps trying to influence local buying decisions.
Understanding reverse auctions
Reverse auctions are real-time price ...