GlobalNetXchange, a business-to-business Internet trading exchange for Sears, Roebuck and Co. and other retailers and their suppliers, conducted more than 3,000 online auctions valued at $1.6 billion in the third quarter ended Sept. 30, reflecting a 77% rise in transaction activity from a year ago, the company reports.
GNX has conducted more than 18,000 auctions valued at more than $12 billion, producing $1.2 billion in savings for its members, since the exchange launched in early 2000, GNX says.
GNX members are also increasing their participation in the exchange’s supply chain collaboration services, GNX said. With four customers recently added to the GNX Supply Chain Collaboration platform for either promotions and replenishment planning applications, GNX had 750 suppliers registered on the system at the end of Q3, up from 650 in the prior quarter. J. Sainsbury plc, the U.K.-based grocery chain, now develops all of its new products in collaboration with suppliers on the GNX platform, GNX said.
Australia’s Coles Myer Ltd. will add to collaboration projects already under way with suppliers by bringing in six new suppliers this fall to the GNX collaborative promotions planning program. "Coles Myer Ltd has recently completed a strategic supply chain study and committed to transforming its entire supply chain over the next five years, which will deliver a customer focused, end-to-end supply chain,” said Andrew Potter, supply chain group general manager for, Coles Myer. “To achieve our goals, we will be ramping up initiatives like supply chain collaboration and online negotiations, where we already have successful projects under way with GNX.”
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