Transora announced today that it will collaborate with Novopoint(tm) and Foodtrader.com(tm) to determine how these major, independent e-Marketplaces will provide the inter-marketplace connectivity required for their respective participants – food industry suppliers, manufacturers, and retailers – to realize the full benefits of conducting business with each other online. These benefits will include faster, more accurate transactions with current trading partners and a broader range of trading partners from which to choose. Upcoming pilot activities will help define the architecture and standards – the keys to enabling seamless integration between suppliers and manufacturers – for transactions and services through Transora.
As the central hub, Transora will provide linkages to other Internet marketplaces that connect suppliers, customers and service vendors to consumer product manufacturers. These linkages will cover all areas of the inbound supply chain, including direct materials such as food ingredients, chemicals and packaging, to indirect materials such as equipment, office supplies and office services. Initial service offerings for raw materials replenishment will be developed over the next few months.
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“These alliances will accelerate adoption of Internet marketplace services among industry companies and bring the economic benefits of the Internet to the industry more quickly,” said Judy Sprieser, Transora CEO. “We expect to quickly engage in similar arrangements with leading e-Marketplaces in other service areas of importance to our participants.”
Transora will work with Novopoint and Foodtrader.com to develop joint pilot programs for transactions between marketplaces (E2E), coordinate regarding standards, and identify other appropriate synergy opportunities. The nature of the alliances are non-commercial at this stage, but the process of collaboration is intended to establish the basis for future commercial relationships.
“Transora and Novopoint are a natural fit because we’re at the very heart of the food and beverage industry and best able to bring leading suppliers and manufacturers together in an open marketplace,” said Robert W. Schult, Novopoint’s CEO. “Connecting buyers and sellers today means that we can accelerate reducing the burdens of supply chain management and enable the strategic partnerships between buyers and sellers to flourish,” he continued. “Lasting efficiencies and increased profitability will ensure our industry’s ability to deliver greater value over time to retailers, consumers, our partners and investors.”
“Foodtrader has been a pioneer in building a trustworthy marketplace for international food industry buyers and sellers to transact more efficiently,” said Frank Tomasino, chairman and founder of Foodtrader.com. “Since the beginning, we have used premier technology to enhance our product portfolio, first with an all-inclusive marketplace, and now with a suite of growing e-Procurement solutions,” he continued. “At the same time, we have carefully selected strategic partners to offer our customers more value and stimulate business across borders. We believe this alliance between Transora and Foodtrader will add a powerful component to our product offerings and will provide tremendous value to our respective members,” he said.
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By GlobalData“Transora will provide connectivity to all the places our participants want to go online, some of which will be delivered through other marketplaces such as Novopoint and Foodtrader.com,” said Rich Kauffeld, alliance lead for Transora.
“Collaborating with Novopoint and Foodtrader.com illustrates Transora’s philosophy of partnering with other leading marketplaces to accelerate broad connectivity and enable transformational benefits. Novopoint and Foodtrader.com are natural choices because they are leading the development of Internet marketplaces for ingredients suppliers to consumer goods manufacturers,” added Kauffeld.
About Transora
Transora is an open, standards-based business-to-business (B2B) e-Marketplace for the global consumer products industry. Established with the support of more than 50 major consumer packaged goods companies, Transora allows all industry participants – suppliers, manufacturers and retailers/distributors – to optimize value chain operations and improve total business productivity via the Internet. Transora will unleash companies to do what they do best. To find out more about Transora, visit www.transora.com.
About Novopoint
Novopoint is a dynamic, neutral B2B transaction and information hub that connects buyers and sellers of food and beverage ingredients, packaging and related services and gives them a one-stop resource through which they can collaborate and gain access to mission-critical services and information. By speeding and simplifying commerce, Novopoint will help food and beverage industry leaders reduce the burdens of supply chain management and increase productivity and profitability over time.
Founded in March, Novopoint began in mid-September the successful piloting of private transactions between suppliers and manufacturers at over 80 plants across the U.S. In the first weeks of the pilot, more than $8 million in transactions flowed through its fully integrated site. Novopoint recently announced the relocation of the company’s headquarters and operations to Chicago from Minnesota. For more information, visit www.novopoint.com.
About Foodtrader.com(tm)
Miami-based Foodtrader.com (www.foodtrader.com) is one of the largest and most comprehensive online business-to-business marketplaces and e-Procurement solutions for the food and agriculture industry and was recently named “Best of the Web” by Forbes magazine. Online since 1997, it has a membership base of over 13,000 buyers and sellers in 180 countries who use the site to trade food products more efficiently, consult with industry experts, and utilize a complete global sourcing and purchasing solution. Foodtrader.com was the first online business-to-business food exchange to establish a presence in South America when it opened offices in Argentina in 1999. In 2000, the Company opened offices throughout Latin America and Europe to serve 33 international markets, giving it the most extensive worldwide presence of any U.S.-based online food exchange.
