INC2inc, the premier B2B supply chain solution for the food and beverage manufacturing industry, announced today that its trading partners will immediately benefit from its latest e-Marketplace development — the Master Order Agreement (MOA) module. This technology was specifically created by INC2inc to allow its trading partners to manage and execute against purchasing contracts online.
Traditionally, executing against Master Order Agreements (or blanket purchase orders) is a task that plagues food and beverage manufacturers and suppliers with excess paperwork, discrepancies, and incomplete fulfillments.
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However, these agreements allow buyers to receive price volume discounts and suppliers the confidence of guaranteed sales. INC2inc’s Master Order Agreement module replaces the complex administrative tasks associated with these commitments with easy, online contract management, while still allowing buyers and sellers to reap benefits and gain efficiencies.
“Once an agreement is reached with an ingredient or packaging supplier, our releases against the blanket purchase order can range from one into the hundreds, and these releases are not always in the same quantities,” said Linda Espino manager of manufacturing procurement at H-E-B Food Stores, and an INC2inc trading partner. “INC2inc’s MOA module eliminates the time-consuming administrative work required in contract balancing; it also allows us to more accurately manage our ordering and keep all the relevant contract information at our fingertips — instead of handwritten on a piece of paper somewhere at the bottom of a pile!”
Most trading relationships in the food and beverage manufacturing industry are not defined by individual purchase orders and deliveries, but by trading commitments specified by a set time period, quantity of goods, explicit dollar amount, or any combination thereof. Once the trading commitments are established and entered into the e-Marketplace, INC2inc’s Master Order Agreement module gives buyers the power to execute orders against the Master Order (blanket PO) until the agreement has been fulfilled.
“The Master Order Agreement module illustrates our commitment to building technologies geared toward alleviating the specific pain points of food and beverage manufacturers and suppliers,” said Scott Sexton, president and founder of INC2inc. “Since a majority of purchases in the food manufacturing industry are done through blanket POs, the value of this application cannot be overstated, and to my knowledge, we are the only marketplace with this type of functionality.”
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By GlobalDataINC2inc is committed to ongoing marketplace development that drives value to the users, as evidenced by its continual technology upgrades focused on solving industry problems. Connecting to the INC2inc e-Marketplace and leveraging these tools, enables both buyers and suppliers to reduce costs and drive a healthier bottom line.
About INC2inc
INC2inc is e-inventing the food chain through its business-to-business (B2B) e-Marketplace for the highly fragmented food and beverage manufacturing industry. INC2inc enables multiple buyers (food manufacturers) and sellers (food ingredient, raw material and packaging suppliers) to transact business on the Web, eliminating inefficiencies, decreasing costs of doing business, and empowering communication, through its suite of collaborative commerce tools. INC2inc is headquartered in Dallas, Texas, and was selected for the dbusiness.com “50 to Watch” list. For more information, visit INC2inc’s Web site at www.INC2inc.com.
