Every year, Scanmarket releases the Global eAuction Index (GEI) that sheds light into the performance of e-auctions executed globally on our platform. This industry report covers e-auction savings, volume, usage by region, category performance, and other key insights into procurement categories and subcategories.
2022 was a challenging year for most procurement professionals. Geopolitical events changed the foundation of sourcing efficiencies. As suppliers were under pressure and costs increased, sourcing strategies in the entire supply chain had to be examined. From raw materials to finished goods, negotiations changed significantly.
2022 Key Highlights
- Procurement professionals achieved an average of 4.83% in savings.
- The annual savings were modest when compared to 2021’s average of approximately 10%.
- Services continue to outperform other categories, conducting the highest number of e-auctions executed on the Scanmarket platform.
Scanmarket also publishes quarterly eAuction Savings Reports as well. The unique statistics provide procurement professionals with key insights into the latest e-auction trends. Head on over to the Resources section of our website to download and explore more content.