FreeMarkets

By Nikida Mc Sween

Summary FreeMarkets began in 1995 FreeMarket merge with Ariba Partners include:

Success Stories New Line Cinema

Posting available assets online. Increasing sales.

British Airways Increase in orders through Ariba buyers. Employee productivity improved by

48%. 80% of purchases now processed

electronically.

Success Stories cont’d

Usinternetworking inc. Distribution is made easier. Purchasing is more convenient.

Questions 1 Enter freemarkets.com and explore the

current activities of the company. What activities FreeMarkets offers to its

customers. Online auctions for buyers to

conduct strategic purchasing and suppliers to bid on business opportunities of goods and services.

Question 2 Look at six customer success stories

(three for sourcing and three for supplying and asset recovery) at the company’s Web site. What common elements can you find? Reduction of cost of products. Increase in suppliers. FreeMarkets onsite auctions. Achievements of goals. Purchases more convenient.

Question 3 Identify additional services provided by

the company to support procurement (sourcing).

Facilitates faster, more effective communication.

Contains information about material and services.

Creates access to best practice, projects and events.

Question 4 Compare the use of freemarkets.com

with the option of building your own auction site. FreeMarkets provides numerous ideas and

solutions for companies to increase their competitive advantages

My auction site wouldn’t be as verse as freemarkets it would be comprise mainly of products for selling and buying online.

Question 5 Compare FreeMarkets auctions with

those conducted on ebay. E-bay mainly sells and buys products

and advertise other products for companies.

FreeMarkets do the same but they deliver solutions to customers and suppliers of company’s online B2B marketplace.

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