Reverse auctions and how they apply to sourcing consulting services

Basically, reverse auctions are a type of bidding process where suppliers undercut each other and progressively reduce their price. Do you know how, the seller lists a product at X dollars and you find yourself competing with other buyers to get the product for more than the previous bidder?  

On this week’s Smart consulting Sourcing podcast, I will share with you my thoughts on reverse auctions and how they apply to sourcing consulting services.

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