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Highly complex bidding situations require a high-power sourcing approach. Bid optimization, which allows buyers to open up their market baskets to more suppliers and lets those suppliers "expressively bid" on the line items for which they can truly compete, comes with a downside: Analysis becomes infinitely complex, given all the potential bid scenarios. Bid optimization automates identification of the best options in these bidding situations. When is bid technology appropriate and how best to implement it?

Download The Hackett Group's Bid Optimization paper and you will learn:

  • Why traditional competitive bidding techniques are poorly equipped for complex spend categories
  • The proper context for utilizing bid optimization
  • Challenges in implementing bid optimization
  • Bid optimization case study

About The Hackett Group

The Hackett Group helps companies significantly improve the efficiency and effectiveness of their organizations. We objectively measure business performance and provide fact-based transformation plans for achieving and sustaining world class, based on data and analysis from more than 13,000 benchmarks. For the typical Global 1000 company, this could mean as much $302 million in cost savings and more than $3.2 billion in working capital.

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