Market Informed Sourcing
Market Informed Sourcing gives suppliers the freedom to express their strengths through flexible bidding and means buyers receive the best offers the market can provide. From the buyer’s list of requirements suppliers are able to group items together and make offers for the different ‘packages’ they have created. In addition, suppliers are able to make a range of offers to reflect multiple scenarios such as varying volume discounts or payment terms.
This approach allows buyers to apply traditional negotiation techniques to incredibly complex sourcing projects involving tens of thousands of items, thousands of suppliers and multiple award criteria.
Trade Extensions pioneered the use of market-informed sourcing through combinatorial auctions in the early 2000s and the power of our optimisation software means it is now an area of true specialism.