ecFood.com (www.ecFood.com), a leading provider of Internet-based supplY chain solutions for the industrial sector of the food industry, recently completed a multiple buyer and supplier demand aggregate auction. This is the first time this type of auction has been transacted online for this specialized market. A demand aggregate auction is when several buyers combine their purchasing power to buy a specific commodity. Purchasers that participated in the ecFood.com auction saved an average of 6% on sweetener.
The online demand aggregate auction was conducted using the ecFood.com proprietary purchasing methodology. Multiple buyers from the dairy and canning industries were able to watch pricing changes within minutes as the auction transpired in Internet time. The participating buyers and sellers, where located in different U.S. regions and time zones, including buyer Byrne Dairy, Inc. of Syracuse, New York.
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“Online purchasing is new to us,” said William Byrne, President of Byrne Dairy, Inc. “I was impressed by how efficient the process was. I chose ecFood.com because of the staff’s food industry experience, but I will continue to use the service because of the cost savings.”
ecFood.com, an independent trading web-base market, sourced the sweetener, qualified the suppliers, trained both the buyers and suppliers on online auction procedures, and oversaw the auction as it progressed. Purchasers using the ecFood.com methodology have gained significant savings and improved purchasing efficiency, while suppliers have expanded their markets and sourced new customers through the online exchange.
“These types of auctions could ultimately change the dynamics of the market place,” said Dave Laukat, CEO of ecFood.com. “Conducting demand aggregate auctions over the Internet expands savings opportunities and gives automatic purchasing power to smaller and mid-sized manufacturers very similar to large purchasers.”
About ecFood.com
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By GlobalDataecFood.com’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 – news), PaineWebber and Goldman Sachs (NYSE:GS – news) have all named ecfood.com a “Company to Watch.”
ecFood.com is headquartered in Santa Clara (Silicon Valley), California. For more information, visit www.ecFood.com or call 408/566-6130.
About Byrne Dairy, Inc.
Byrne Dairy, Inc., based in Syracuse, NY, manufactures milk and ice cream for institutional clients including hospitals, grocery stores and schools. The privately held company also operates 50 Byrne Dairy Stores throughout the Upstate New York. For more information, call 315/475-2111
