Overview
Background:
Reverse auctions can yield significant cost savings but require expertise to maximise value. KLRES leverages specialised capabilities in strategic planning, supplier engagement, real-time auction oversight, and data analytics for impactful reverse auction management.
Our Innovation:
Our end-to-end approach covers the entire reverse auction lifecycle, from planning to post-auction analysis. Proprietary dashboards provide real-time visibility into auction progress and competitive dynamics.
Our Comprehensive Solution:
For this client, KLRES delivered integrated reverse auction management services across their procurement categories. This enabled the client to benefit from our full spectrum of capabilities and experience.
Challenges
Challenges
The client faced difficulties in capitalising on reverse auctions, including:
- Inability to determine suitable categories for auction
- Limited success engaging suppliers in the bidding process
- Lack of real-time visibility into auction dynamics
- Sub-optimal award decisions due to insufficient data analysis
Our Client’s Expectations:
The client sought KLRES’ expertise to address these challenges and seamlessly manage their high-value reverse auctions to achieve maximum cost savings.
Solutions
Auction Planning:
Conducted spend analysis to identify categories apt for reverse auction. Aligned process with client objectives.
Supplier Onboarding:
Led extensive supplier training on bidding platform to drive engagement. Addressed supplier concerns.
Live Auction Oversight:
Real-time monitoring with proprietary dashboards providing visibility into competitive dynamics.
Post-Auction Analytics:
Statistical analysis of bidding data to support data-driven award decisions aligned to client goals.
Results
Savings:
Delivered average savings of 16% across auctioned categories.
Enhanced Visibility:
Real-time analytics provided insights into supplier behaviour and price movements.
Improved Decisions:
Data-driven award decisions balanced savings and supplier relations.
Supplier Engagement:
Over 90% of identified suppliers actively participated in the bidding process.
Client Feedback
“KLRES’ strategic oversight and robust analytics empowered us to maximise value from our reverse auctions.”
