The Penn Traffic Company, a food retailer in the eastern US, has signed a deal to launch an e-sourcing programme with FreeMarkets, a provider of sourcing software and service solutions.
Under the terms of the agreement, which follows a successful pilot, New York-based Penn Traffic will use FreeMarkets® FullSource(TM) as the platform for its e-soucing programme.
“We are using FreeMarkets to help us reduce our costs,” said Martin A. Fox, Penn Traffic’s executive VP and CFO. “FreeMarkets will handle a series of competitive bidding events for a number of products, some for resale to consumers and others to support our operations.”
Rob Austin, director and GM of the Consumer Goods and Services Sector at FreeMarkets, added: “We are very pleased that Penn Traffic has chosen FreeMarkets as the platform for its e-sourcing programme. We look forward to working with the company to create fast, measurable cost savings in the months ahead.”