What are our top 3 most successful on-demand auctions?
There’s no denying that the Covid-19 pandemic placed huge demands on supply chains around the globe. As procurement teams move out of crisis mode and into recovery mode, there’s a strong possibility that procurement teams will review how they operate in order to succeed and meet the recovery needs.
Part of the recovery is likely to include the need to maximise costs savings, yet not lose out on supplier quality. Another need is that it’s likely to be required at speed, this therefore means procurement teams may need to seek out innovative ways to achieve this. Ultising technology could be the answer to provide procurement with a competitive edge in the negotiation landscape, and it’s more affordable than you think.
Creating and running eAuctions with Market Dojo can be achieved with an initial £500 spend on an on-demand basis. This provides a perfect opportunity for organisations to test eAuctions and evaluate how to make them part of an ongoing procurement model.
To help paint a picture of how eAuctions can support procurement with their cost-saving requirements, the following covers some of Market Dojo’s most successful eAuctions, used on an on-demand basis.
Tier 1 automotive organisation fastens their supply chain
A US automotive organisation found Market Dojo through a Google search. Although they had a licence agreement with an ERP provider, they had never gained the user adoption they required and were therefore seeking a specialist eAuction provider.
The organisation was running an eAuction on non-metallic fasteners on a 5 year deal, as part of the components that went into their final product. The eAuctions were split into many eAuctions given the complexity of the sourcing and number of items. The result – the eAuction build, running and award 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 that found us through Google. This eAuction is a massive success story for a number of reasons and is one of the best examples of making use of our self service model, and is a testament to the speed at which you can get started with Market Dojo.
The organisation created their Market Dojo account on a Sunday and started testing out the Market Dojo eSourcing sandpit (our test environment) to get hands on experience with the solution. Once the eAuction was ready to go live, a licence was purchased using their credit card and they immediately started inviting suppliers to the eAuction. By the time the Market Dojo team started their working week on Monday morning, the organisation had run their first ever eAuction, without even needing to speak to us, demonstrating the intuitiveness of the Market Dojo eSourcing solution. Over the course of the month, the organisation ran over 30 eAuctions and saved over £1.5 million in total.
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 eAuction.
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.
To find out more about how Market Dojo can help organisations digitise their procurement processes and potentially support their recovery, get in touch.