Join us Monday, June 29 at 11 a.m. CDT for the webinar, 3 Bids and an Award: Are You Speculating When You Buy on the Spot Market?
Husband-and-wife team Jason Busch (founder and managing director, Spend Matters) and Lisa Reisman (CEO, Azul Partners and executive editor, MetalMiner™) will participate in a counter-intuitive debate on sourcing on the spot market.
“Three bids and an award, or spot market buying, is 100% speculative because you are looking for the lowest price and you have outsourced the ‘risk premium’ to your supply base,” Reisman said. “It’s hugely dangerous in a rising market, but I’d argue that most companies don’t always know if they are in a rising or falling market yet will still buy this way in most markets.”
Busch counters, “What everyone does: sourcing using an index is not always best practice because companies are lying to themselves when they say they have perfect pass-through.”
To experience their entire back-and-forth on the matter, register for the live webinar!
Can’t make it live? Register anyway and we’ll send you a copy of the slides and recording of the webinar.