NutraBid Completes Ingredient Auction for Shaklee

January 1, 2001

1 Min Read
NutraBid Completes Ingredient Auction for Shaklee

NutraBid Completes Ingredient Auction for Shaklee

CLARK, N.J.--NutraBid, an e-commerce service provider, conducted a privatereverse auction for Shaklee Corp., a multi-level consumer products company. Thereverse auction resulted in nearly $1 million in food and nutritional ingredientsales.

According to NutraBid, eight suppliers were invited to participate in theauction, some of whom were current Shaklee suppliers and some of whom wererecommended by NutraBid's market specialists. The event involved severalproducts for which bids were received and resulted in savings in excess of 10percent. "Shaklee is very pleased with the results of the reverse auctionwe conducted with NutraBid," said Sylvia dos Remedios, Shaklee's directorof purchasing. "In addition to the bottom-line savings, the reverse auctionimproved process efficiency and reduced the cycle time. The auction also helpedcontrol costs on products where the marketplace was facing significantincreases."

NutraBid, , wasfounded in 1999 to offer a variety of e-commerce services, including anelectronic marketplace, electronic procurement, SellOnLine and back-end systemintegration services.

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