USA: A Bean Counter's Dream Come True: ecFood.com Auction Results in More Than 15 Percent Savings for Furman Foods
ecFood.com, the leading provider of Internet-based supply-chain solutions for the industrial sector of the food industry, recently completed two purchaser auctions for Furman Foods, a leading canner in the East and home of Furmano's brand Italian products. The auctions yielded a 15% savings in price for one bean auction and another 3% savings in a second auction. ecFood.com successfully sourced the items, identified and enlisted suppliers, and established a fair market price using purchaser auctions, while maintaining the quality and consistency of the product. The two bean orders involved in the transaction (navy and pinto) had a combined total of nearly 1.5 million pounds. Using its proprietary methodology, ecFood.com prepared the item specifications and arranged for ten suppliers to participate in both auctions. Each supplier bid an average of nine times, for a total of nearly 100 bids. "Our experience with these auctions has validated the strategic value of ecFood's services," said Paul Dubendorf, vice president of finance at Furman Foods. "This was our first time using the ecFood methodology, and we were able to realize significant cost and time savings. We are now planning several additional transactions." "The Furman auction is a great example of how ecFood.com helps food companies raise their efficiency, competitiveness, and profitability," said Dave Laukat, CEO of ecFood.com. "We were just as pleased with the results as Furman's."
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