Vendorful: Smarter sourcing for buyers and vendors

David Wadler

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Recent Posts

Busting the 6 Biggest Reverse Auction Myths

Posted by David Wadler on Oct 3, 2018 9:00:00 AM

The benefits of Reverse Auctions might seem obvious to many. That begs the question — why aren’t they more common? Perhaps the reluctance to use them stems from the myths that prevent organizations from recognizing how they can improve efficiencies, save money, and build better supplier relationships.

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4 Ways to Improve Procurement Processes and Boost Organizational Value

Posted by David Wadler on Sep 21, 2018 9:00:00 AM

Procurement teams...those are the people who find an organization’s suppliers, right? If you’ve adopted this sort of limited view about procurement (or are surrounded by people who have), you’re (or they’re) gravely underestimating the impact of these teams. The procurement processes themselves and the people who are responsible for implementing them, can affect almost all organizational departments directly or indirectly — which is why its role in any business is critical.

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Topics: Procurement

Top 4 Reasons Your Organization is not Adopting eSourcing and How You Can Overcome Them

Posted by David Wadler on Aug 22, 2018 9:00:00 AM

For any business that has used an eSourcing platform, the benefits are evident. Using tailored technology to streamline its procurement needs can provide an organization with significant cost savings, faster cycle times, more transparency, and better control over its sourcing requirements.

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Topics: Sourcing

How to Create an RFP that Gets Results

Posted by David Wadler on Aug 14, 2018 8:45:00 AM

The efficacy of procurement teams is tethered to knowing and understanding what they are purchasing and why. Think this seems straightforward? Think again. Large enterprises might have vendor rosters numbering in the thousands that cut across numerous categories. And most of the ongoing vendor engagement is in the hands of stakeholders, who all too often, sit in virtual silos. So what can procurement teams do to address this? Actually, there are lots of things. But for the purpose of this post, let’s focus on maximizing the chances that the best-aligned vendors are engaged. A key tactic to engage involves leveraging procurement’s favorite three-letter acronym — the RFP (request for proposal). An RFP allows an organization to assess whether the supplier’s goods and/or services are actually going to meet the its needs.

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Which Type of Reverse Auction Should You Be Using?

Posted by David Wadler on Jul 26, 2018 10:15:00 AM

Advancements in technology have allowed procurement teams to introduce new sourcing strategies and practices. A reverse auction, for example, can automate and streamline the sourcing process to increase cost efficiency without requiring months of negotiation. Before going further, we want to acknowledge that cost should not, in the vast majority of situations, be the sole driving factor in choosing a supplier. Indeed, sometimes cost and quality can be inversely correlated. Taking a holistic approach where cost is a key consideration will deliver better outcomes. But that’s for another blog post….

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Topics: Reverse Auctions

3 Ways eSourcing Can Boost Supplier Relationships

Posted by David Wadler on Jul 24, 2018 8:40:00 AM

When it comes to procurement, technology can make a significant impact.

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Topics: Sourcing

5 Things to Consider Before Hitting Send on Your RFP

Posted by David Wadler on Jul 5, 2018 12:02:56 PM

Most businesses understand the challenges of finding a reliable supplier. Sure, there are “throwaway engagements” where your focus is purely transactional, the sole focus might be quickly identifying who can get the job time. But for larger, more strategic endeavors, the scope of your evaluation likely transcends the supplier’s current capabilities. Indeed, your looking to find a partner with whom you can build a long-term, mutually beneficial working relationship.

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Topics: RFP, Sourcing

4 Reasons Why eSourcing Should Be Your Top Priority

Posted by David Wadler on Jun 26, 2018 8:50:00 AM

As a business, streamlining your sourcing, allows you to save time and money, build better working relationships with suppliers, and ultimately ensures the success of your procurement cycle.

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Topics: Sourcing, RFP

Top 5 Things Vendors Wish Businesses Knew About RFPs

Posted by David Wadler on Jun 18, 2018 8:55:00 AM

As a business, you know how important it is to create quality RFPs. Good RFPs draw the best bids from vendors, foster better working relationships, and ultimately deliver better results.

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Topics: RFP, Sourcing

3 Ways Reverse Auctions Can Drive Better Business Value

Posted by David Wadler on Jun 7, 2018 8:45:00 AM

We’ve dedicated quite a bit of time speaking to the virtues of the RFP process. Indeed, if you’re sourcing any complex good or service, running a Request for Proposal, is a great way to gather and evaluate the data the will ultimately support the decision you make. While running a comprehensive sourcing event makes sense in many scenarios, there are other situations where price is the overriding criterion. If that is the case, and the product/service being sourced is steeped in commodity rather than complexity, you might have a good candidate for a reverse auction.

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Topics: Reverse Auctions