Q3 2021 eAuction Savings Report

    Every quarter, Scanmarket reports on statistics covering insights into the savings performed by e-auctions executed globally. Read on and download the report to better understand and optimize your business to achieve higher savings and efficiencies.

    The latter half of 2021 was certainly another one of savings. Amid supply chain challenges, e-auctions proved to be an essential avenue of profit protection and supply security as vendor bases became more diverse, with increased pricing competition. 

    Overall, Q3 2021 saw an average 3.3% in savings verses current market price across the top-used categories. Alongside already stressed production lines, many Scanmarket customers were forced to broaden their supplier base and adopt e-auctions in an effort to keep prices as low as possible. This shift in practice resulted in a 100% increase in the number of e-auctions performed during Q3 when compared to that of 2020, which was already a record-breaking year. 

    Despite the challenges the pandemic created for companies around the globe, tensions were eased with the help of e-auctions, and will likely continue to combat future uncertainties as a solidly implemented, permanent fixture in the modern procurement department's processes.

    For more information, download the Q3 eAuction Savings Report below.

    New call-to-action

    Henrik Balslev - Chief Commercial Officer
    Henrik Balslev - Chief Commercial Officer
    Henrik Balslev is responsible for the overall delivery of consultancy and customer services in Europe. In addition to managing many of Scanmarket’s largest customer accounts, Henrik has lead responsibility for sales in the Nordic countries.

    Related Posts

    Q2 2022 eAuction Savings Report

    Every quarter, Scanmarket reports on statistics covering insights into the savings performed by e-auction...

    Food and Beverage Have a Lot to Chew On With Strategic Sourcing

    The food and beverage industry was one of the first adopters of strategic sourcing technology and continu...

    How to Mitigate Third-Party Risk in Your Supply Chain

    Third-party suppliers can make or break your supply chain. They can improve profit and give you a competi...
    Dan Townsend Jul 21, 2022 8:00:00 AM