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The quest for the perfect auction - Nobel Prize 2020

From Dr Howard Price

Did you know that a Nobel prize was awarded to two Stanford economists for their contribution to Economics? - Paul Milgrom and Robert Wilson won the prize for their ground-breaking work on the theory and practice of auctions.

Milgrom and Wilson, 72 and 83 respectively, are both professors at Stanford University in California.


A practitioners guide is available based on their research and is available HERE


The Procurement Doctor (www.procurementdoctor.com) has been created for procurement and supply chain professionals to share best practice in order to improve both our profession and its reputation. Come and join the debate – contributions, articles and editorial content always welcome


Dr Howard Price has over 25 years senior executive level procurement experience delivering many successful procurement transformation projects, both as a CPO and as a consultancy partner.


He has worked as Procurement Director at Philips, Procurement Practice Leader at KPMG, Managing Partner at 4C Associates, and as the Global CPO for the JAB Luxury Group.


His private sector experience includes Rolls Royce, BAE, Heineken, Philips, Vodafone, Pearson, Sky, Cisco, Rio Tinto, National Grid, Welsh Water, Johnson Matthey, Bayer Healthcare, RBS, John Lewis, Serco, Vertex, Virgin Group, Belron, Allergan, Allied Signal and GE. His public sector clients include the Ministry of Defence, the Home Office, Dept. for Environment, Food and Rural Affairs.


Howard holds a PhD in Strategic Procurement from the School of Management at the University of Bath and is actively involved in current procurement and supply chain research through a partnership with University College London.

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