Forestweb, Inc. recently completed two online reverse auctions for Kruger, Inc., a supplier of tissue, newsprint and other pulp and paper products.
Kruger used a private online reverse auction to competitively procure fuel oil for two of its paper mills. The entire process, from concept to execution took about a week; the auctions lasted for approximately 30 minutes each with up to six suppliers bidding against each other for the opportunity to deliver fuel oil to Kruger's mills.
Bidders were notified via email about the auction, and given a demo site to practice. When the time came to begin bidding, all participants were comfortable with the complete process. Kruger chose to conclude the transaction offline at the close of the auction.
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