Japanese eAuction results in 22% savings for this European retailer.
A large European retailer needed to select one vendor for brined mangoes. Only two potential sources were qualified, and initial bids from suppliers varied widely.
A Japanese Auction was strategically selected based on the client's objective. Suppliers agreed to new pricing to remain in the bidding and started bidding at their own pre-bid levels with no ranking feedback. Each minute, bid price stepped down by £1 GBP.
161 bids were placed by only two participants in less than one hour resulting in 22% savings.