eDynaQuote's eProcurement Process Saves National Retailer 35% on Office Supplies
A national retailer headquartered in Ohio will save nearly $700,000 this year on its office supplies and toner products through a competitive purchasing process performed by eDynaQuote. The savings were based off the national retailer's last actual spend and were achieved by utilizing eDynaQuote's proprietary reverse auction software and eprocurement process expertise.
Erie, PA (PRWEB) February 11, 2008 -- A national retailer headquartered in Ohio will save nearly $700,000 this year on its office supplies and toner products through a competitive purchasing process performed by eDynaQuote. The savings were based off the national retailer's last actual spend and were achieved by utilizing eDynaQuote's proprietary reverse auction software and eprocurement process expertise.
The strategic sourcing project began with a detailed spend analysis to create logical part groupings to offer for bid. Once the spend analysis was complete, a supplier search and stringent qualification process followed to ensure that only qualified suppliers were invited to participate in further negotiations. Those suppliers were then invited to participate in a detailed survey to define and evaluate the non-price factors such as company size, website ordering capabilities, and references. Next, suppliers submitted pre-bids to ensure that all items in the group were included in their bid and to pre-approve alternates to branded items. The final step was an online reverse auction in which 68 bids were submitted in one hour by six pre-qualified suppliers.
Using the eDynaQuote platform, the process is streamlined and allows for continuous bidding until all of the suppliers provide their lowest bid. Before the auction begins, the bid documents are available to all suppliers online via a secured internet connection. This ensures that bidders have easy access to the most up-to-date specifications. Instead of submitting bids via phone, fax, email or paper, they simply register with eDynaQuote and sign in to the secure site on the announced day and time of the auction to place their bids. Once a bid is placed the suppliers can see where they rank allowing them to alter their bids immediately if they choose.
"eDynaQuote™ offers a powerful, yet easy-to-implement on-demand solution that helps clients streamline the purchasing process to save potentially millions of dollars. eDynaQuote offers professional support and provides full-service help-desk support which allows clients to choose from among a variety of service levels to address specific needs, including full-service reverse auction management, strategic procurement consulting, and self-service auction management options.
For additional information, visit http://www.edynaquote.com or email info@edynaquote.com.
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