Wednesday, 15 March 2017

[Guest Blog] Teaching deal making with Market Dojo

Jon Brinsmead has been buying goods and services for clients for over 20 years including Ahold Delhaize, Unilever and Transport for London. Over the same period of time, Jon has been providing training in commercial management. Jon shares his experiences and thoughts on teaching delegates how to conduct an effective sourcing event through the Market Dojo tool.


Teaching deal making with Market Dojo

I’ve been using Market Dojo’s eAuction software for 3 years now, together with a useful buying scenario provided by Market Dojo - to teach deal making to delegates on a commercial management course.

How it works – Delegates are given the role of seller and have to ‘bid’ into an eAuction for commodity items. The course leader acts as the buyer (and the seller’s manager) and runs the auction.

We run the auctions online, and in real-time, and delegates are given the objective of winning the sale and also making a profitable deal.

Outcomes

Delegates learn how to construct and execute a bidding strategy. They see the pressure that sellers can come under in a real time situation and get to practice in a safe playground. They also get to explore the ‘Price arena’ and understand how the deal-making situation affects supplier behaviours.

Diagram – the PRICE arena

Diagram based on Guhan Subramanian's book Dealmaking

Benefits

Working with Market Dojo is a great experience, everyone is really helpful and the products have a low entry point for learning how to carry out basic operations. The software and service are rock solid. For a small investment of time, delegates get some great experience of the use of online eSourcing software and take away their experience to use in their own organisations.

Commercial bit

If he can help you with a commercial training needs or indeed any deal situation please don’t hesitate to contact him at Jon@Brinsmead.co.uk.

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

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