CombineNet ASAP®: Expressive Feedback Improves Collaboration and Competition
Increased communication between buyers and suppliers during sourcing events helps drive better results. CombineNet ASAP® with our Expressive Feedback feature helps buyers increase the success of their sourcing events by sharing more expressive, collaborative, and timely information to suppliers.
Expressive Feedback's Unique Features
Expressive Feedback is quickly and easily configured using a wizard-driven process and incorporates two unique mechanisms having a range of feedback options to guide suppliers towards more strategic and competitive responses to RFPs and E-Auctions:
- Bid Feedback allows buyers to setup automated feedback to suppliers on multiple cost components for each item in a sourcing event, and can include Target pricing, Lowest price, % from Target, Rank, and Competitiveness, with easy-to-read coded displays for the supplier. Buyers have the flexibility to define Target pricing and what type of competitive feedback is sent relative to that.
- Supplier Feedback provides each supplier with personalized feedback on their overall bidding performance, and can include recommended actions to improve their competitive position in the sourcing event. Buyers can define the type and level of supplier-specific feedback presented to each supplier, as well as add their own personalized comments on areas that suppliers should focus to increase their potential for winning business.
ASAP's Expressive Feedback is utilized in Standard Reverse E-Auctions and can be employed as part of a sealed bid RFP. Unlike typical Reverse Auctions, which provide feedback on unit price solely to drive down pricing to award suppliers based on the lowest price per item, the objective of Expressive Feedback is to provide suppliers with a broader view of their price competitiveness on multiple cost components (e.g.: material, production, freight, etc.) to help guide their competitive responses.
In an RFP event, Expressive Feedback helps to increase the number of qualified suppliers with competitive pricing and commercial terms on multiple cost components. During RFP events, Expressive Feedback can be configured to be provided at all times, or only during specific periods of the bidding cycle.
More on our Expressive Feedback Feature
A detailed white paper on how Expressive Feedback boosts supplier collaboration and competitiveness.