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Article: Gain experience.(United Technologies Corp online auctions)
- Article from:
- Purchasing
- Article date:
- June 21, 2001
- Author:
CopyrightCOPYRIGHT 2001 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Anybody can acquire the technology to run reverse electronic auctions. But running successful reverse auctions--auctions that drive top-performing suppliers to lowest market prices--takes both experience and deep commodity knowledge.
United Technologies Corp. (UTC) has conducted, to date, over two thousand reverse electronic auctions with suppliers. Each auction has been a learning experience, and we're leveraging our acquired knowledge with each new event.
Some important lessons we've learned:
* When using electronic auctions in strategic sourcing--that is, when bidding business for multiple divisions or locations--make sure you are in a ...