Dabur ties up with FreeMarkets for eProcurement

By siliconindia   |   Thursday, 09 January 2003, 20:30 IST
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NEW DELHI: Dabur India has signed an agreement with FreeMarkets Inc., provider of global sourcing and supply management solutions, for adopting leading-edge technologies, which it would use to execute online markets for goods and services. Under the terms of the agreement, Dabur would use FreeMarkets’ FullSource - a comprehensive set of services, which combines the most advanced bidding and supply management technology available with expert services in hundreds of spend categories to accelerate savings and reduce supply risk. Additionally, Dabur would use FreeMarkets’ QuickSource solution, a comprehensive, full-featured sourcing application designed for automating, streamlining, and providing visibility into sourcing projects. As per the two-year agreement, Dabur India and FreeMarkets would work together implement the technology-enabled supply management process. The entire procurement function of Dabur India, including pharmaceuticals and subsidiaries, would be exposed to this process. The company has plans to make purchases of over Rs 150 crore using FreeMarkets’ solutions in the first phase of the relationship. "With this tie-up, Dabur will move from need-based procurement process, followed over the years with its strong supplier base, towards an intelligent procurement system. This practice not only helps the buyer but also provides new opportunities to efficient suppliers for winning more business on merit’’ said Jude Magima, Head Procurement, Dabur India Ltd. "We will be fully online and conducting events in February. Our association with FreeMarkets will give us a head start in creating effective online markets, as they have over 150,000 suppliers in their database which we can leverage" he added.