Reliance inks deal with Freemarkets

By SiliconIndia   |   Monday, 23 September 2002, 07:00 Hrs
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MUMBAI: Reliance Industries has inked an agreement with the US-based Freemarkets, a provider of enterprise sourcing software and service solutions, to source goods and services for the former's global operations.

Freemarkets' Quicksource was ideal for automating, streamlining and providing visibility into sourcing projects while leveraging it to manage sourcing projects involving less-complex areas of spending, RIL said in a release today.

In addition to Quicksource, the company would also be able to utilise Fullsource, which combines advanced sourcing technology, industry specific programme management, global market operations services, information and knowledge about specific commodities and supply market dynamics, it said.

Reliance would use Fullsource to gain rapid savings from large quantities of their spending, rationalise their supply bases and optimise decisions in complex sourcing situations, it added.

B Narayan, group senior executive vice-president, Reliance, said "we look forward to leveraging the company's technology, informaton and services to create savings and efficiences that benefit our organisation and add a meaningful, transparent dimension to long-term supplier relationships.

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