It depends! An integral tool of SRS is the Reverse Auction. During our recent on-campus trainings, we’ve included an interactive exercise to determine the price a supplier is willing to sell a product.
Typically, the Reverse Auction is used to drive prices down. Suppliers outbid one another in real-time, lowering prices until the auction ends. In training, our objective was a little different. We created a Reverse Auction and had attendees put their “supplier hats” on and bid against one another on a bag of gourmet chocolates.
Instead of the low bid winning, the award went to the bidder coming closest to the price paid for the bag of chocolate. While the objective was a little different, the exercise provided a valuable glimpse into the suppliers’ bid experience.
So you see, we can’t really answer how much the bag of chocolate is worth as the chocolate is worth exactly what we paid for it! But for the auction winner, the bragging rights have their own value.
- 8 campuses visited
- 97 users trained on Reverse Auctions, Cost per Quality Point and Contract Repository
- 160 ounces of chocolate awarded in reverse auctions!
Contract Director and Repository are now live! All system-wide contracts that previously resided in the UCOP Agreements Database have been uploaded into Contract Director and pushed into the new Contract Repository. All system-wide agreements will be managed and authored in Contract Director from this point forward.
- 157 RFXs – 9 Open, 40 Closed, 18 In Review, 24 Awarded, 56 in Draft
- 1264 Suppliers registered