Today, an average of 5% of all total corporate retail spending is sourced using reverse auctions.
OMNIBID is a tool used by many retailers’ purchasing and supply management personnel as part of a strategic sourcing and overall supply management process.
In the typical OMNIBID process, you put a supply item up for sale and multiple suppliers bid for the item. Then, one or more of the lowest bidders is contracted to supply that item for you.
OMNIBID performs in real-time via the internet. This helps you achieve rapid downward price pressure that is not normally attainable using traditional static three quote paper-based bidding.
We provide OMNIBID for no charge to our Gold and Platinum customers.