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Blog Pick of the Week: What is a Japanese Auction?

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The auction tool is something that is used quite frequently in procurement. There are many different strategies and approaches. The blog this week is from Market Dojo and discusses their new feature, Japanese auctions.

Online AuctionIn a Japanese auction every bidder has to accept each new price. If they don't they are out. The auction lasts until there is only one bidder left. A comparison to a poker game can be made. Everyone antes in and as the stakes get higher, players drop out. This can also be referred to as a button auction. Everyone is holding down a button and will release it when they no longer are interested in bidding. The auction ends when only one person is holding down the button.

I have never been involved in a Japanese auction and would be interested to know how that has been used and what situations lend themselves to use this auction approach. Have you something to share that will let us know how you utilized this strategy?

For more information about Market Dojo, including links to their blog and Twitter account, click here.

For more information on e-Auctions, including Japanese, Brazilian, Dutch and Yankee, click here to read e-Auctions in Sourcing on the eSourcing Wiki.

Cindy brings with her over twenty years experience in supply chain business process, systems development , and project management. She has worked on a global scale with multi-faceted supply chain initiatives. With her strong IT background and project management expertise, she has successfully managed a variety of complex systems implementations. Cindy has held positions with large national and international companies in the insurance, retail and medical fields. Cindy has her MBA with an IT concentration. Professional education includes training in strategic sourcing, systems development, and obtaining her CPM.

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Guest Monday, 22 December 2014

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