Prabhav Pattapurati

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Prabhav Pattapurati, senior procurement consultant specializing in the chemicals, healthcare and FMCG industries for GEP, a leading provider of procurement and supply chain solutions to Fortune 500 companies.

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Despite auctions being far more efficient than negotiating prices, to secure direct and indirect services and goods, they are entirely underused by multinationals.
Jan 08, 2021    0

In late 2020, Robert Wilson and Paul Milgrom were awarded the Nobel Prize in Economics for breakthrough work on structuring auctions to deliver the best results for both the seller and buyer. Google, for instance, reinvented the advertising industry, which was based on face-to-face, closed-doors deal-making, with its programmatic, automated, real-time, largely auction-based digital platform. In doing so, Google grew exponentially by providing millions of small businesses with the ability to...