Financial Daily from THE HINDU group of publications
Thursday, Jan 09, 2003
Financial Daily from THE HINDU group of publications Thursday, Jan 09, 2003 |
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Marketing
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E-Commerce & E-Business Dabur ties up with FreeMarkets for e-procurement Our Bureau
NEW DELHI, Jan. 8 DABUR India has inked an agreement with global supply management solutions company FreeMarkets Inc towards using cutting-edge technology for efficient procurement online. With over 300 products in the FMCG, healthcare and ayurveda portfolio, Dabur has an annual procurement bill in excess of Rs 500 crore with sourcing done from across the globe for raw and packaging material. As per the agreement, Dabur will use FreeMarkets' FullSource — a comprehensive set of services which combines the most advanced supply management technology available with expert services in hundreds of spend categories to accelerate savings and reduce supply risk. Also, Dabur will use FreeMarkets' QuickSource solution, a comprehensive, full-featured sourcing application designed for automating, streamlining, and providing visibility into sourcing projects, according to a company communiqué issued here. Dabur India and FreeMarkets would work together for a period of two years initially to successfully launch and implement the technology-enabled procurement process. Though the entire procurement function of Dabur India, including pharmaceuticals and subsidiaries, would be exposed to the process, the company has plans to make purchases of over Rs 150 crore using FreeMarkets Solutions in the first phase that ends in April-May this year.
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