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At C1, we strongly believe in the power of knowledge and are committed to keeping our readers well-informed about the latest procurement updates. Our goal is to provide comprehensive coverage of technological trends, advancements, and enhancements in the e-procurement sector. For any media-related inquiries, feel free to reach out to us at enquiry@c1india.com.
At C1 India we are driven by what we do and how it adds value to the entire community. We take immense pride in being the Auctioneer for FM radio station e-Auction because we truly believe it will be a game changer for following three reasons
It is absolutely important to select a right auction variant when going for an e-Auction to achieve business objectives. Understanding which auction type works best and where, is not an easy game. Lets today look at Dutch e-Auction and how businesses can benefit from it.
Our esteemed clients often consult us on how to go about auctions. Auction, by the very word, does induce excitement. However, achieving business objectives through eAuction is not very straightforward. It requires thorough analysis and planning. In this interesting blog, we share with you what is often asked to us by clients – how do you decide between when to go for Price eAuction and Rank eAuction.
Organizations – small or large have shown keen interest in taking up Reverse eAuctions to drive down the cost of procurement and increase the overall effectiveness and efficiency of the purchase process. Procurement Heads, by and large, have had varied degrees of success with Reverse eAuctions much to the fact that it is not as easy as it may seem. However, we at C1 India, do not intend to make it further difficult for you to comprehend. Instead in this interesting blog we will highlight Top 5 Steps to ensuring Successful eProcurement Strategy.
Simple as it may sound, however, it is a very profound question that as head of Procurement one might like to ask – what all can be sourced through e-Procurement? Can you put the benefits of Reverse e-Auctions in action for procurement of services such as maintenance services, human resource services, financial services, employee benefits, real estate services, marketing services and facility management?
At C1 India we have been a firm believer in web-auctions for not only running streamlined, efficient and transparent systems for procurement & purchase but also in realizing the true value of resources which do not have a standard market rate. Spectrum, FM radio station and coal block auctions are some such examples. All of these do not have a market rack rate and hence a mechanism, which helps in discovering the right price, is required.
As procurement professionals, you must have faced challenges arising out of cartelization, collusive bidding, abuse of dominance and competitive neutrality. It is imperative that in a procurement role, one is sensitive to bid rigging practices as it can have a huge business and economic impact.
Choosing when to leverage Reverse e-Auction is critical to e-Procurement Strategy. At a time when Global Heads of Procurement are turning towards top e-Procurement Software Solutions in India, believing that best e-Procurement software solution will solve all the challenges, is far from reality.
According to a report of Ministry of Agriculture, as much as 3313 farmers in India took their own lives in last three years due to agrarian reasons. These figures are disturbing; given the fact that agriculture sector still supports roughly 70% of country’s population. 2014 alone witnessed 1357 such suicides. Maharashtra, Telangana and Karnataka are the worst hit. Upon analyzing the reason of these suicides, it becomes clear that farmers’ earning is not in tune with their spending and expectations. To make agriculture profitable for farmers, the government needs to ensure that they get fitting price for their crop
Price discovery of natural resources is a complex process altogether and requires stringent methodology. The price of natural resources is, to a large extent, determined by the demand and supply factors of that particular resource. The spot price i.e., the market price of a resource at any particular instant is basically the point where the market demand curves and its supply curve meet. Even if great attempt is put in obtaining a more precise demand or supply curve, the spot price can never be perfectly determined by such completely theoretical considerations.
Creativity is the most essential component for any business to flourish. There is absolutely no denying to the fact that creativity drives success in any firm, whether big or small. In the world of e-procurement, creativity plays a prominent role too. The auction of FM Channels is one of the quintessential examples of creativity by the Government. No one would argue that back in 2000, when the Government held an Auction of FM Channels for the first time, it was a masterstroke killing two birds with one stone. It broadened FM coverage across the country and also generated revenue in an until then not-so-prosperous and under-developed Telecom Sector. Today, FM Phase III is under way and the revenues have touched a whopping Rs. 1140 crores.
Creativity is the most essential component for any business to flourish. There is absolutely no denying to the fact that creativity drives success in any firm, whether big or small. In the world of e-procurement, creativity plays a prominent role too. The auction of FM Channels is one of the quintessential examples of creativity by the Government. No one would argue that back in 2000, when the Government held an Auction of FM Channels for the first time, it was a masterstroke killing two birds with one stone. It broadened FM coverage across the country and also generated revenue in an until then not-so-prosperous and under-developed Telecom Sector. Today, FM Phase III is under way and the revenues have touched a whopping Rs. 1140 crores.
In April this year, Ministry of Petroleum and Natural Gas mandated e-Tendering for oil PSUs under its ambit, for tenders of value above Rs. 5 Lakhs. Similarly, in the month of September, Noida Authority mandated e-Tendering for purchases above Rs. 5 Lakhs. Also, organizations are lowering the threshold value above which e-Tendering is mandatory. Many State Governments have lowered the slab for mandatory e-Tendering recently.
E-Sourcing is the foremost component of an e-Procurement solution. Sourcing basically refers to the entire process of finding and subsequently shortlisting suppliers for procuring any good or service. Sourcing used to be a tedious process as it involved a lot of research and there used to be a number of constraints in the process. But the adaptation of information technology for procurement has totally changed the scene. Today sourcing activity can be executed over the internet and this has led to an unprecedented increase in the reach of suppliers. A supplier can now easily co-ordinate with buyers and this also increases the number of options that are available to the buyer. Buyer can thus strike a much better deal due to enhanced competitiveness.
Managing tenders is a very time-consuming exercise and a lot of paperwork is involved. Many rounds of negotiations and documentation with accurate data in the correct format consume a maximum of resources and profits. Today we will discuss in detail Phase 2 that is e-sourcing which concerns tender management and vendor management. It deals with tender creation, vendor shortlisting, and due diligence related to supplier management.
Negotiation is an inevitable part of the buying process. C1’s Auction Management & Bidding Software allows procurement professionals to automate the complete vendor interaction over the web for the price negotiation. It streamlines the procurement process, improves accuracy and consistency, saves time, greater collaboration with the suppliers, and assures that you will get the best deal for your requirement.
Strategic sourcing is a clever, that is a more thoughtful way to buy things - such as raw materials, software, or services. It is not only about finding the cheapest price; It is about making better decision making that save money in a long time, reduce risks and create strong suppliers participation.