Evolution Before Transformation How Procurement Will Best Leverage Digital To Achieve Progressive Outcomes. Webinar - 21st May 2019, 3:15pm BST
I think we can all agree that Bill Gates is a top bloke. Aside from being one of the most influential people in our lifetime, he’s done what a lot more people in his situation should be doing; putting his corporate work on the back burner and investing a lot of his personal time and money (over $50 BILLION) into identifying and tackling some of the biggest problems we face as a planet.
He recently worked with MIT on putting together a top 10 list of hurdles that could be overcome in the coming years with continued progress in the respective fields. It got me thinking about the possible places that Market Dojo could help the people working in these fields, because wouldn’t it be amazing if a small team like us could have even the slightest impact on making the world a better place?
One of the common themes with the top 10 challenges is that they’re mostly being tackled by small startups who are having to make the most out of limited funding. Companies are trying to come up with innovative solutions but the cost of manufactured parts, raw materials and energy are all high which ultimately slows down progress. Market Dojo could certainly help drive down that cost…
We’ve had over £50 million worth of manufactured parts sourced through Market Dojo, with average savings of 19%. Our ability to have weighted questionnaires will ensure the quality of the parts is not compromised in favour of the cheapest options, because let’s face it, nobody is rich enough to buy cheap things. Using advanced lots in our eAuctions will mean all cost factors such as delivery are taken into account.
In terms of raw materials, we’re a great option to look at for cutting costs. Just like manufactured parts we’ve had roughly £50 million worth of raw materials sourced through Market Dojo with the average savings at a whopping 24%. While it can be a bit of a difficult category to work in due to the typically larger size of the supplier, we’ve provided our expertise to loads of our customers to help ensure they achieve the best results
Then there’s energy. We’ve implemented features into Market Dojo to ensure people can use our tool to save money when buying energy, 22% on average. We built Unit of Measure sets into Market Dojo so suppliers will be able to bid in their preferred UoM such as Kilowatt Hour or Gigawatt Hour. This helps energy sourcing events look more attractive to the suppliers, ultimately ensuring they take part and battle out other suppliers to give you their best price. More information can be found on our Category Hub.
Finally, what really makes us great for startups is our affordability and ease of use, it means that teams with little to no procurement expertise/funding can start using our tool to cut costs. It really does take a matter of minutes to build a sourcing event and take it out to market, our team is always on hand to make it as effective as possible.
I doubt Bill Gates will ever read this, but if he did, I’m sure he’d be pretty happy.
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