In its second-largest acquisition, Amazon buys the company for $970 million.
An IR conference speaker will talk about managing the web-based supply process.
The Internet has enabled retailers to source merchandise from wherever they can get the best price and quality. But that opportunity is attached to requirements retailers must meet, says Paul Shrater, president of Minimus, an e-retailer of travel-sized and individual-sized consumer goods.
Shrater will discuss how sourcing online means retailers must support the exchange of data between buyers and sellers and ensure that merchants have automated access to updated information about products, production schedules and delivery dates.
“I’ll be discussing how to evaluate the vendor source that you may have found to determine whether it is the right match for your needs and how to work with the source,” Shrater says. “You will learn about evaluating and negotiating the pricing and terms of the vendor source, determining if you need a backup supplier, and the best methods for maximizing your vendor relationships.”
Internet Retailer’s editors asked Shrater to speak because he has managed the 7-year-old Minimus.biz from start-up through its growth and has built the marketing, sales, purchasing, operations, administration, accounting and special projects departments.