Out of the gates with no fear

November 6th, 2006 at 06:22am David Bush - Iasta

Don’t let any one fool you into thinking reverse auctions are “soooo 2003″. Just last week, Iasta helped a new client with their FIRST online bid, a reverse auction that blew out the doors on the traditional thinking of start slow and safe. Some of the metrics that were interesting included:

• Reverse Auction for recruitment services which was preceded by an e-RFx
• 110 lots with 46 qualified bidders
• Live event supported with real time Excel spreadsheet integration
• 8,201 bids submitted over ~2 hours

That is one serious online bidding event. I would not recommend this type of event very often (or ever) but the fact that it went off well, was a very impressive feat. Many pundits out there want to leave the usage of reverse auctions to the past and are looking to discuss the next big thing. There are very strong qualities that can be found in additional functionality through e-Sourcing software but never forget that reverse auctions still work, even if they are now considered “old school”.

Email Forward & Bookmarks

Close this Window Bookmark and Share This Page

Save to Browser Favorites / Bookmarks

Ask backflip blinklist BlogBookmark Bloglines BlogMarks Blogsvine BuddyMarks BUMPzee! CiteULike co.mments Connotea

del.icio.us Digg diigo DotNetKicks DropJack dzone Facebook Fark Faves Feed Me Links Friendsite folkd.com

Furl Google Hugg Jeqq Kaboodle kirtsy linkaGoGo LinksMarker Ma.gnolia Mister Wong Mixx MySpace

MyWeb Netvouz Newsvine oneview OnlyWire PlugIM Propeller Reddit Rojo Segnalo Shoutwire Simpy

Slashdot Sphere Sphinn Spurl Squidoo StumbleUpon Technorati ThisNext Webride Windows Live Yahoo!

Email This to a Friend

Copy HTML: 

 If you like this then please subscribe to the RSS Feed.

Powered by Bookmarkify™

More »

Entry Filed under: General, Reverse Auctions, Supply Management Best Practices, Technology