Sourcing Optimization 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.
Sourcing optimization can also be applied to more routine projects and the most successful e-auctions run on the platform use optimization techniques so buyers can consider more factors than price alone.