377: A Practical Guide to e-Auctions for Procurement w/ Jacob Gorm Larsen

<p><span style="font-weight: 400;">If you are relatively new to the field of procurement, there is a good chance you’ve never experienced an auction first-hand. With all of procurement’s focus on moving towards value and away from cost-only decision making, that’s understandable. Unfortunately, however, auctions are a valid tool in procurement’s vast toolbox, and in many cases we may be dismissing them - and their potential in a negotiation - without sufficient evaluation of the opportunity. </span></p> <p><span style="font-weight: 400;">Jacob Gorm Larsen is the Head of Digital Procurement for Maersk and the author of the newly published book, “A Practical Guide to E-Auctions for Procurement: How to Maximize Impact with e-Sourcing and e-Negotiation.” From his perspective, an auction is simply “an online, market-driven negotiation, based on total value and with commitment.” That’s certainly not something procurement should take off the table when the conditions are right.</span></p> <p><span style="font-weight: 400;">In this conversation, Jacob and Host Philip Ideson discuss:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">The history of auctions as part of the longer timeline of procurement technology development</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">How and when to use auctions to create maximum value for the business</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">How to improve communications with suppliers so that both parties achieve their goals and to promote the creation of a lasting relationship</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">The ways procurement organizations can structure themselves to ensure they get maximum ROI from their investments in technology</span></li> </ul>