Reverse auctions for services
3 April 2012
Q: I’ve seen a number of articles recently indicating that significant savings have been achieved by large organisations running reverse auctions, but these seem to be largely focused on production materials in manufacturing industry. Do you believe rever
A: Eric Davies, head of purchasing processes and systems at the Royal Bank of Scotland (RBS), writes: You are correct in identifying that reverse auctions have generated significant savings for the manufacturing industry. However, at the RBS, we believe reverse auctions have equal applicability to the financial services sector. The significant aspect of RBS’s...