As you enter into the recovery phase following this pandemic, your ability to generate additional cost savings as a procurement team is going to be put to the test. Your team’s ability to seek innovative ways of generating savings, and crucially, at speed, could be the determining factor. Utilising technology can give you a competitive edge in the negotiation landscape, and it’s more affordable than you may think.
Market Dojo has offered on-demand auctions for £500 since its inception in 2010, and I’m going to talk about some of the most successful on-demand auctions we’ve seen. Some of the savings figures may take some believing, but I assure you they are true.
Tier 1 automotive firm fastens its supply chain
A US automotive organisation found us through a Google search. Although they have a licence agreement with an ERP provider, they had never got the adoption from the users, so we’re seeking a specialist auction provider.
They were running an auction on non-metallic fasteners on a 5-year deal, as part of the components that went into their final product. The auctions were split down into many auctions given the complexity of the sourcing and number of items. The auction building, running, and the awarding was concluded within 4 weeks, and the result was close to £40m in savings over the 5 year contract period.
Dubai Premium Property Developer Builds Instant Margin
This was another organisation who found us through Google and it’s a massive success story for a number of reasons. This is one of the best examples of making use of our self-service model and is a testament to the speed in which you can get started with Market Dojo.
The client created their Market Dojo account on a Sunday and started testing out the Sandpit to get hands-on experience with the solution. Once the auction was ready to go live, they purchased a licence using their credit card and had invited suppliers to the auction. By the time we came in to work on Monday morning, the client had run their first-ever auction, without even needing to speak to us. Over the course of the month, the client ran over 30 auctions and saved over £1.5 million.
Top 4 consultancy – nothing stationary about this stationery spend
We are used to consultancies using our tool to run cost down initiatives for their clients, but this scenario involved the use of Market Dojo to negotiate their own company stationery spend in the form of an auction.
Once again, this involved purchasing an on-demand licence to run a single auction. It was one of the most competitive auctions we’ve seen with over 350 bids placed in just over 60 minutes. The result was almost 60% savings on their annual stationery spend, equating to over £200,000.
For more information on how we can help and you can get on our next list for the most successful auctions, get in touch with us at firstname.lastname@example.org