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In essence this is the User Guide for the market dojo software, except it is more related to the process rather than the software. We are so confident that the software itself with the efficient structure, clear process flow and thorough information help buttons will be so easy to use that you won’t need a page-by-page screenshot guide. Therefore we haven’t provided one. Instead, this guide outlines the process flow and key hints and tips to ensure the event is a great success for you.
We all owe it to the participants for the Event to be run in a fair, open and expedient fashion. This guide outlines the important factors you should have in mind whilst hosting your Event, e.g. having good levels of communication, detailing the award process and sticking to it, creating clear specifications and many more. If you follow this guide then your participants will appreciate the professionalism and courtesy with which you have conducted your Event and so will be more willing to extend the favour back to you. If however you don’t take heed of any of the advice in this guide, then be prepared for your participants to walk away.
Step by step guide on how to create an eSourcing event in Market Dojo. Includes information on registering, creating an event, questionnaire’s and using lots to capture pricing information.
This guide is designed to provide some helpful advice and tips for when you need to bolster your participant involvement but are not sure where to start. By using a structured and organised approach, detailing out the key criteria for the participants you are looking for and interrogating the extensive global databases of well-known sources, you can achieve this goal to great success. Please read on to find out more.
This guide aims to help Hosts when they are looking to involve incumbent participants, as well as new participants, in an e-sourcing activity and do not want to risk damaging their relationship or being point-blank refused. It outlines the benefits a participant will have by taking part, the objections that a Host might be faced with and how to overcome those, and how to protect the relationship itself.
This guide is written to help you right from the beginning when all you may have in front of you is 12 months worth of data and the objective to find the market prices on the various spend categories. How do you take it from here? Well, please read the guide to get our explanation behind sorting and categorising the data into market-facing supply pools. Prioritise the categories by asking some pertinent yet straight-forward questions. Finally we address how you can approach a strategy for each category to make sure you maximise the potential benefits to your company.
To be used in conjunction with the above document, this is the matrix of questions that any organisation should be interrogating each spend category with in order to prioritise each category based on their respective strengths, weaknesses, opportunities and risks. We are confident that most organisations and individuals do have these questions in their minds, however it is useful to have these listed to ensure each category is subjected to the same level of scrutiny, so that a fair comparison is made.
For certain categories there is a tried and tested “best practice” approach to maximising the returns. This guide highlights some of the more common categories that are negotiated online and provides useful detail on how to approach them. Key tactics include splitting line items into Stage 1 and Stage 2 or creating Core Lots and Basket Lots and so on. If you are looking to run an Event on a complete category, then this guide should be reviewed before you dive in.
For any organisation or individual that requires a confidentiality agreement between themselves and whoever might be viewing the information, we have provided an example NDA which should be suitable. We would advise that you have this document checked with your legal department to ensure it suits your needs.
As part of our continued effort to provide useful category-specific templates, please use this template as an example approach to capturing and outlining specific road transport deliveries. This template works three-fold: firstly you can use it to send around your own organisation to ensure all sites provide like-for-like and comprehensive delivery information, secondly it allows your supply market to provide accurate and sustainable quotations and thirdly it allows you to rapidly implement any new logistics company since the information is so clear.
Occasionally a host may wish to advertise or promote the event to the market outside of the market dojo software. To make this easy for you, we have provided a template “brief” which can be used to outline the key details of the event and how prospective participants can actively engage further, including a paragraph on how they can register for your event through market dojo. Once this is sent out to the market, you should start to notice participants flocking to your event.
This document can be used as a crib sheet of all the key points that you may wish to include when you create your documentation pack. For example, informing your participants who you are, what you are looking for, what exactly you are negotiating on, what the commercial terms are or the service levels you are looking for etc. All these key points are flagged in this checklist so that when all these are ticked off, you know you have a robust package of information for your participants to accurately bid on.
This is the main document in the documentation pack that you make available to the participants. If the category you are placing on the Event is not complicated, then you will not need as thorough a document as this. However, if your category is a very complex contractual service agreement for example, such as temporary labour or corporate mobile phones contracts, then you should benefit from the clear and thorough layout of this template. It has been written to make it much easier for you to involve participants in the Event and highlights in red text the areas that you should re-write in your own wording, thereby already giving you a head start.
In case you would like to see what a completed example of the above document should look like, please review this example on an annual packaging supplies contract. You will hopefully see that the document covers all the required levels of information so that any new or existing participant to your business will be able to understand what the requirement is for and will be able to offer a competitive price as the margin for error is greatly reduced; a benefit to everyone.
You might like to give your Participants a short guide on bidding during the qualification process and the auction. This also covers contingency plans and the auction close. You can use this as training material to take your participants through the process before any event.
This template can be used to explain to participants how to bid in currencies other than the one you have specified. It refers the participants to an independent and reliable source of currency exchange rate histories which all parties can refer to on a specific date. This ensures that complete transparency is upheld as well as ensuring all bid comparisons are done on a like-for-like basis, as all participants shall be using the same exchange rate.
There are a number of spend categories which have hundreds if not thousands of line items. Rather than having to create or upload thousands of items onto the Market Dojo software, we suggest the use of a template such as this. It allows participants to price up the individual line items offline and then submit a total Lot price online, so that during the negotiation event they only need focus on one figure. Once the negotiation event is complete, the participants can upload their completed line item spreadsheet so that you have a record of their line item pricing.In a similar vein, you can use such a method to also capture participants’ cost breakdowns, such as delivery cost, raw material cost, tooling cost etc.
When creating a new Sourcing Event, you are able to upload a list of participants to the Event via a spreadsheet, rather than adding them manually. This template is pre-prepared for you so that all you need to do is paste in the e-mail addresses of your participants, save it and upload!
For those Hosts on the Full Licence, you can carry out a mass upload of participants into your own private database and allocate those participants into your own defined groups, such as “machinists”, “stationers”, “road freight” and so on. This template is pre-prepared for you so that all you need to do is paste in the various details of your participants, type in which groupings you wish to have, save it and upload from within the Admin section on your Dashboard.
For those Hosts on the Full Licence, you can carry out a mass upload of Hosts into your own private database and allocate those Hosts into your own defined groups, such as category or departmental groups. This template is pre-prepared for you so that all you need to do is paste in the various details of your participants, type in which groupings you wish to have, save it and upload from within the Admin section on your Dashboard.
Within our software you now have the ability to upload your Lots in one fell swoop, which means you can very much use the Lots as individual Line Items. Use this template to upload your Lots to save you a lot of time.
This guide has been written to provide you with some tools to assist you with the preparation and conducting of face-to-face negotiations. The guide highlights simple strategies and tactics to help structure a face-to-face negotiation and to quantitatively evaluate different suppliers so that you maximise your chances of success.
It is well known that an Online Negotiation Event is only one method for establishing the market price for goods or services. It is certainly not applicable in all instances, particularly not when you are faced with a very low number of capable suppliers. One such alternative is to negotiate directly with the incumbent supplier; however this requires you to have all the facts at your disposal, as you want to be fair to all parties. Even once you do have the facts, do you know exactly what they are telling you? This guide is intended to provide you with an outline of the key considerations and what to look for in order to prepare yourself for those pricing discussions. Please note that whilst this guide is mainly focused on manufactured parts or products, many of the concepts and ideas in this guide can relate to services as well.
In essence this is the User Guide for the market dojo software from the participants perspective, except it is more related to the process rather than the software. We are so confident that the software itself with the efficient structure, clear process flow and thorough information help buttons will be so easy to use that you won’t need a page-by-page screenshot guide. Therefore we haven’t provided one. Instead, this guide outlines the process flow and key hints and tips to ensure the event is a great success for you.
This is a guide that you do not find too often, as it gives away some key hints and tips that most hosts do not want you to know. However, we believe in freedom of information and we feel that it will be a more successful Event for everyone if these practices are adopted. Whilst a host may be doing their best to include all the relevant information, it is common for one or two points to slip through the net. This guide suggests some questions you can ask that may reveal additional information that increases the scale of the opportunity for you, for example does the host belong to a parent company?
Steve Kirk discusses what makes a successful eSourcing implementation, his experiences as well as processes and policies.
Graham Roberts at Sopra Steria discusses the lessons learned in eSourcing and some tips on what to consider when choosing a provider.
William Bridgman at Warren Services discusses the challenges faced in procurement at his company and how these barriers were overcome through the use of Market Dojo’s Quick Quotes and BOMfire tools.
Creating real value from eSourcing
Alun Rafique, Co-founder of Market Dojo introduces the inaugural event and discuss the topic of creating real value from eSourcing.
Using Different Ways of Working to Achieve 25% Savings
Graham Woodison, former Senior Purchasing Manager at Specsavers and founder of Challenge25 presented his specialism in improving procurement performance and creating savings of over 25%.
The Human Condition. Iain McKenna, Managing Director of Sourcing Solved discussed how you can attract the best procurement talent to complement your technology and ensure that they can add real value.
Bed of Nails & Robot. Richard Bell, former Procurement Director of Averda discussed how he implemented procurement solutions around the world and the impact of Robotic Process Automation within procurement.
People and Process Success in Government. Rob Lees, Commercial Director of ISS Ministry of Defence presented on creating success through implementing practical processes and people within government.
Establishing an eSourcing Centre of Excellence. Simon Boggis, the former CPO of Ceva Logistics discusses his experience in transforming a decentralised procurement team to deliver bottom line benefits.
Baker’s ingredients lists for a successful eAuctions. Terri Hudson, Managing Director of Baker Wanless Ltd discusses the different ways to make a successful eSourcing event and the fundemental aspects to delivering real value through eAuctions.
This infographics presents the finding on the study of the barriers to adopting reverse auctions.
This guide provides the explanation of the various terminologies that you may come across during your time with Market Dojo or any other online negotiation software, for example “Host’s Choice” or “market price”. A useful read if there are any phrases that you are not familiar with.
As Online Negotiation Events have been around for at least 15 years now, we believe the timing is right to dispel some of the many myths that this approach has garnered. This guide highlights some of the more common beliefs and opinions that we have encountered and offers an alternative viewpoint on why they may no longer apply.
Download our flowchart displaying the full process of Market Dojo, for both the participant and the host. This flowchart displays everything from sign-up through managing invitations, online message boards, RFQ’s, eAuctions and award decisions.
This guide is based upon the many thousands of eAuctions run on our software, we’ve compiled this handy guide to help you create your next eAuction. Discover the different types of strategies that you can use and their effectiveness.
Discover our Beginners Guide to Reverse Auctions that discusses exactly what you need to know about reverse auctions.