AgEx.com successfully hosted a European-based reverse auction for Kraft Foods International, the company announced today. AgEx.com said dairy products worth close to one million Euros were tendered by Kraft Foods International in a 40-minute auction.
A number of potential vendors bid live through the AgEx.com private auction site. The auction was held the last week of January.
“We believe Kraft Foods International learned about how auctions can be a successful element of food ingredient procurement, and we’re proud they chose us to host it,” said John Weaver of AgEx.com, who was on-site in London to assist Kraft. “Serving companies such as Kraft is an important element of our new emphasis on auctions in our business plan.”
“AgEx.com provided an efficient and user-friendly system and approach for our pilot,” said Byron Thomas, Director of Purchasing Strategy and e-Procurement
AgEx.com recently announced a restructuring of the company in which it is concentrating on its growing auction business.
Kraft also recently carried out a pilot reverse auction using CPGmarket.com. TO read more about this, click here.
AgEx.com, based in San Francisco and Sacramento, California, is a leading private auction and agricultural commodity trading site. In addition to its private auction site, the company operates on-line exchanges for agricultural commodity products such as almonds, rice and dried beans. www.agex.com
About Kraft Foods International European Union region:
Kraft Foods International European Union region, headquartered in London, is the European business of Kraft Foods International, part of Kraft Foods, the global food business of Philip Morris Companies Inc. www.kraftinternational.com