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Generating Maximum Savings with Reverse Auctions

Generating Maximum Savings with Reverse Auctions

We are here to introduce you to a better way to bid. 

This year, two Stanford professors––Paul Milgrom and Robert Wilson won the Nobel Prize in Economic Sciences 2020 for significantly improving how auctions are conducted. From the beginning, Milgrom and Wilson understood the importance of auctions and knew that designing them in the proper way was absolutely critical. Because of their work, the team at Enviro 21 have the opportunity to provide and conduct better auctions––the reverse auction format. 

Let’s elaborate…

Reverse auctions are not a temporary approach for procurement operations but a proven method to dramatically lower your overall procurement costs, which delivers significant cost savings. In a reverse auction setting, a buyer makes vendors (or sellers) aware of their intent to purchase a good or service. Throughout the course of the reverse auction, vendors bid against one another to secure the buyer’s business by continually bidding the price of the good or service downward. The winning bidder is the seller who offers the lowest price. 

This leads us to the core benefit of reverse auctions: SAVINGS

With multiple sellers competing against one another to win the bid and secure their next project, pricing is a significant factor in the decision-making process—and typically, this results in the buyer getting a better deal than anticipated. According to the U.S. General Services Administration (GSA), reverse auctions have become a best practice in the procurement process by producing savings of 10-40%. If you are looking to save on your next hard-good or service contract, you are in the right place.

At Enviro 21, our online marketplace delivers the best available pricing and side-by-side bid comparisons for public and private sectors including municipal solid waste, paving, demolition, hazardous waste removal, fleet vehicles, electronics, and more. Even better? We allow our clients to set the maximum cost they are willing to pay. 

Leave the antiquated procurement process behind. Be in control and save with Enviro 21. 

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Let’s talk paper bids versus reverse auctions…

Gone are the days of the paper bid—at least in our world!

At Enviro 21, our online procurement process or reverse auction is set up for the success and savings for environmental engineering agencies, municipalities, other governmental organizations, and private industry stakeholders to provide value-added assistance with auctions, consulting, and brokerage services.

While paper bids are typically understood by the general public (can’t you hear the auctioneer in your head?), reverse auctions may be a foreign concept. What is it and how does it work?

As we continue to see a shift in the marketplace, reverse auctions are becoming increasingly popular and well—a better way to bid, generating savings from 10–40%.

Paper Bids

Have you attended an auction or bought something on eBay? If you answered ‘yes’ to either of those, then you most likely know what we’re talking about!

These types of auctions are most commonly performed at the consumer level. Traditional bids or paper bids take place when the seller offers an item for sale at a set-price. From here, the auction starts and bids are received from buyers who secure the price for the seller by bidding upward. This drives the seller to receive payment from the highest bidder.

Reverse Auction

Contrarily, a reverse auction is typically conducted business to business. Buyers set a request for a hard-good or service and the sellers bid against each other to provide the best available price for the buyer’s need.

Think about it like this…

Your car needs new tires. However, you’re new in town so you are not familiar with the businesses in your area, and you spent a bunch of money for your move—saving money where you can is important right now. You decide to head to Facebook and make a post in your new town’s community group asking for recommendations for local auto repair shops.

The comments start lighting up your phone.

Business A charges $100 per tire.
Business B charges $75 per tire.
Business C charges $60 per tire.

Congratulations—your decision is made! Business C receives your business and you are saving big!

Sellers compete as they each submit the set amounts that they are willing to be compensated for the desired hard-good or service. At the end of the auction, the seller with the lowest bid or best available price wins.

Summary

The Enviro 21 reverse auction process is set up for business to business sales transactions. The goal? For the buyer to receive the best available price from the seller. Our online procurement process allows businesses and industries to save big on the products or services they need to keep moving forward. Advanced online marketplaces have allowed sellers and buyers to connect across the nation, and our reverse auction process is no different.

If your business is interested in learning more about our upcoming auctions or bidding with Enviro 21, contact our team today.

The Future of Waste Removal

Enviro 21 strives to provide you, the consumer, with the most personable, individual, and customizable solution to your waste-removal needs while taking a different approach; bidding.  One of the most unique aspects of Enviro 21 is its online marketplace which links vendors and generators.  Only reputable and legitimate generators and vendors will be represented, and they will bid for each others services/jobs.  This will offer you the best available price from a myriad of local business.  One of the best things about the whole process, however, is how the same team will follow you through all of those bids if you wish, as well as provide valuable business insight.

Not only will Enviro 21 facilitate vendors and generators connecting with each other, but, through our team of Waste Consultants, we will provide a second set of eyes to provide proper administration and execution of your project.

Enviro 21
Enviro 21

From toxic waste to medical/e-waste, our team of dedicated industry professionals and waste consultants endeavor to find you the best price for your project.  Take a look at the future.  Take a look at Enviro 21.

Waste is Our Business

Each year

the waste industry builds on its annual $75 billion revenue figures. New technologies in recycling, new waste disposal strategies and new treatment methods for waste are being developed each year to control the 300 million+ tons of waste that is transported, recycled, treated, and disposed of each year in the U.S.

To date, no simple or obvious system for analyzing or comparing these options has been available to waste generators. Rather than doing extensive due diligence, muddling through the complexity, and sorting through the confusion, it is common for waste generators to maintain their legacy handling processes.

“If it ain’t broke, don’t fix it.”

But, what if it is broken and it just isn’t obvious? What if there is a more environmentally friendly and a more cost effective option? What if options could be easily compared with total transparency? And what if you had the ability to navigate through the entire process guided by experienced waste management professionals?

Enviro 21 addresses each of these questions and offers a straight forward, cost effective alternative.

Enviro 21 is the 21st century solution to more effectively manage your waste disposal needs. Through our national vendor directory and a proprietary bid forum, Enviro 21 assists waste generators and waste vendors to connect in a marketplace specifically designed to compare and contrast solutions to any waste issue. By offering an expanded pool of qualified waste vendors, Enviro 21 becomes the “one stop shop” for all of your waste needs.

Our completely transparent bid process encourages all waste handling vendors to participate.  From roll off containers to asbestos abatement and other hazardous/non-hazardous material removals, the Marketplace (Enviro 21’s bid/auction site) allows each vendor to present themselves in a fair and unbiased representation.

All participants are vetted prior to inclusion for insurances, permits, licenses, and credit to ensure the highest degree of a quality interaction.

Enviro 21‘s staff of trained and experienced waste and environmental professionals will offer not only assistance with the bid process, but also general consulting on your specific waste issue. No project is too large or too small. Whether you’re demolishing an abandoned building or clearing toxic waste from a polluted stream, Enviro 21 is here to help.  We strive to provide you with the greatest degree of surety for your waste project.

A modest yearly subscription gives waste vendors and generators access to all of our services: The Marketplace, consulting, technical assistance, national vendor directory, regulatory updates, waste industry job listings, internship opportunities, the blog, and more.

For more information, or if you have any questions; please contact us at 412-400-5496 or via email at info@enviro21.com.

Take a look at the future.  Take a look at Enviro 21.

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