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.
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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.”
About ecFood.com
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By GlobalDataecFood’s web-based solution is based on scalability, efficiency and optimization of a purchasing system. In addition to purchaser auctions, the company offers consulting, specification management, demand aggregation, seller auctions, storefronts, certification services, and a product catalog. Advantages and savings realized by ecFood.com clients include: large purchaser networks; lower transaction costs; faster direct access to competitive information; anonymity and security, and increases convenience, speed and quality.
Forbes Magazine recently recognized the company as “Best of the Web” for B2B sites in the food industry. In addition, BancBoston Robertson Stephens (NYSE:FLT), PaineWebber and Goldman Sachs (NYSE:GS) have all named ecfood.com a “Company to Watch.” ecFood.com is based in Santa Clara (Silicon Valley), Calif. For more information, visit www.ecFood.com or call 408.566.6130.
About Furman Foods, Inc.
Furman Foods, based in Northumberland, PA, is a leading supplier of tomato products in the East and home of Furmano’s brand Italian products. Furman’s processes over seven million cases of vegetables, tomatoes, and tomato sauces for the retail and institutional markets. The Furman brands, which include the Furmano’s line, comprise a total of 180 different products. From the very beginning, Furman Foods has relied on a recipe of faith, family, and hard work. It has enjoyed a reputation for exceptional quality and excellent service in the food-processing industry for the last 80 years. For more information, visit wwww.furmanos.com or call 570.473.3516.
