Reverse Auctions have become increasingly popular in the purchasing world - and they may be an option to help you control your bottomline costs.
Things to consider:
- Is the product/service a commodity to your business?
- Are you open to working with non-local businesses for this need?
- How would a change in suppliers impact your customer's experience?
The key component of utilizing this strategy is being very clear on the front end as to your PRECISE/SPECIFIC requirements to assure that the low bid can provide precisely what you need!
Please let me know if you have further questions or would like further information!