Thinking ‘Bid’ With Big Data Analytics in Constraint-less Bidding Processes

What if a bidding process could include and analyze as many suppliers as possible without built-in constraints? In constraint-less bidding, businesses find innovative suppliers who deliver better options at less cost, unlocking hidden and lost value.
— By Cecil Perang

Most procurement bidding processes remain locked in the past, utilizing processes and old-time technologies that limit accessibility to suppliers and leave hidden spend in the dark. When Walter Charles III was told to save at least 150 percent in spend at Kraft, he realized that it was not possible without utilizing technology tools to support a radical change in the traditional bidding process.

Now the Biogen Chief Procurement Officer, Charles developed and applied a new methodology that he calls "constraint-less bidding" at Kraft, Kellogg's, Johnson & Johnson, and Biogen. Using big data analytics to support a different set of processes, smart procurement functions are impl...

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