Icg commerce is one of the new players in

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Unformatted text preview: perior pricing from suppliers. While consortium or group buying has been in existence for some time –– your health insurance plan uses it to get better prices for doctor visits, pharmaceuticals, and other items, for example –– bringing it to e-commerce is a new development. ICG Commerce is one of the new players in eprocurement that uses this approach, among others, with some notable successes. Smaller customers can potentially save anywhere from 5 to 25% on the cost of factory supplies, administrative services, packaging, and related categories, and major companies can utilize the ICG Commerce staff of procurement experts and its e-procurement technology to drive ongoing procurement improvements. Major oil company Sonoco recently announced that it was turning over its nearly $1.4 billion in purchases to ICG, for example. Objective: Leveraging Volume • Online auctions can yield major savings. • You first need to have a strong understanding of your usage, requirements, and other factors in order to obtain the benefits. • Price is rarely the only criteria for selecting suppliers, so be sure to cons...
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This test prep was uploaded on 04/01/2014 for the course INDE 6370 taught by Professor Staff during the Spring '08 term at University of Houston.

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