{"id":3089,"date":"2011-08-08T20:57:00","date_gmt":"2011-08-08T20:57:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2011\/08\/08\/what-is-esourcing-what-is-a-reverse-auction-whats-the-difference\/"},"modified":"2023-06-12T11:50:02","modified_gmt":"2023-06-12T15:50:02","slug":"what-is-esourcing-what-is-reverse","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/what-is-esourcing-what-is-reverse\/","title":{"rendered":"What is eSourcing?  What is a Reverse Auction?  What&#8217;s the Difference?"},"content":{"rendered":"<p>I hope that you have enjoyed the article \u201cWhat eSourcing Is &amp; How To Get Started.\u201d<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>This article is based on a 30-minute podcast I did with Jason Busch, Editor of spendmatters.com. That podcast had lots of nuggets of good information and I only had\u00a0space for a few excerpts in the article. So, I highly suggest that you check out the podcast on the Next Level Purchasing Association Podcast page.<\/p>\n<p>Though the article took a rather basic look at eSourcing, the podcast did include some even more elementary material that I think could help procurement professionals who really haven\u2019t yet got started looking into eSourcing or reverse auctions for their organizations. Yes, though eSourcing and reverse auctions have been around for a solid decade-and-a-half, there are some (actually, a lot of) procurement organizations who still haven\u2019t added those tools to their toolboxes.<\/p>\n<p>Therefore, I am dedicating this post to an excerpt from the podcast that ended up on the proverbial cutting room floor for the article, but still may be helpful.<\/p>\n<blockquote style=\"font-style: italic\"><p><span style=\"font-size: 100%;color: black\">eSourcing &amp; reverse auctions save money and streamline the sourcing process. But what is eSourcing? What is a reverse auction? And what\u2019s the difference?<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 100%;color: black\">A reverse auction is an online event \u201cin which there is true price-based competition [among suppliers] in real-time,\u201d according to Jason Busch, Founder and Managing Director of <a href=\"http:\/\/www.azulpartners.com\/\" rel=\"nofollow\"><span style=\"text-decoration: none;color: black\">Azul Partners<\/span><\/a> and Editor of the supply chain blog spendmatters.com. \u201cSo, when a supplier submits a bid, they know where they stand\u201d and is able to quickly adjust that bid downward, producing savings for you.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 100%;color: black\">Reverse auctions are a subset of eSourcing. Busch suggests that eSourcing describes \u201ca broader category of tools\u201d that includes bidding formats ranging from reverse auctions to multiple-round events where bids are evaluated privately to a variety of other types of events. To Busch, the factor that distinguishes reverse auctions from other types of eSourcing events is the \u201creal-time feedback\u201d that suppliers get.<\/span><\/p>\n<p><strong>Recommended Reading<\/strong><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/free-supply-chain-risk-webinar-this\/\" aria-label=\"\u201cFree Supply Chain Risk Webinar This Friday!\u201d (Edit)\">Free Supply Chain Risk Webinar This Friday!<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/nlpa-dedicated-member-of-month-for-6\/\" aria-label=\"\u201cThe NLPA Dedicated Member of the Month for August 2011 Is\u2026\u201d (Edit)\">The NLPA Dedicated Member of the Month for August 2011 Is\u2026<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/who-owns-customer-supplier-relationship\/\" aria-label=\"\u201cWho Owns The Customer-Supplier Relationship?\u201d (Edit)\">Who Owns The Customer-Supplier Relationship?<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/what-is-esourcing-what-is-reverse\/\" aria-label=\"\u201cWhat is eSourcing?  What is a Reverse Auction?  What\u2019s the Difference?\u201d (Edit)\">What is eSourcing? What is a Reverse Auction? What\u2019s the Difference?<\/a><br \/>\n<a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-the-future-of-procurement-2\/\" aria-label=\"\u201cWhitepaper Wednesday \u2013 The Future of Procurement\u201d (Edit)\">Whitepaper Wednesday \u2013 The Future of Procurement<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>I hope that you have enjoyed the article \u201cWhat eSourcing [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is eSourcing? What is a Reverse Auction? 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What&#039;s the Difference? - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"I hope that you have enjoyed the article \u201cWhat eSourcing [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/what-is-esourcing-what-is-reverse\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-08-08T20:57:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-12T15:50:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-019.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1063\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/what-is-esourcing-what-is-reverse\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/what-is-esourcing-what-is-reverse\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"What is eSourcing? 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