In this episode of the Sourcing Industry Landscape, Dawn Tiura interviews Nikesh Parekh. Nikesh Parekh is the CEO and Co-Founder of Suplari, an AI-powered spend accountability and financial performance system. Nikesh’s journey into procurement wasn’t a straight line.
Procurement organizations have been using reverse auctions in sourcing events for decades as a means to reduce spend, introduce new vendors into the supply base and remain competitive in the market. While reverse auctions have flourished since the mid 1990’s, they have also been heavily scrutinized. Trends such as these have forced suppliers to adapt to competitive business practices or become inconsequential. As procurement tools become more streamlined, practices like reverse auctions are more commonplace in sourcing events; however, they continue to harbor negative connotations.