GNX reports sharp increases in auctions, collaboration projects

GlobalNetXchange, a retail industry Internet trading exchange, reports that more than 3,200 online auctions with a total value of $1.6 billion occurred in the second quarter, representing more than double the number of auction transactions in Q2 of last year.

Shaw`s Supermarkets, for example, is using the auction negotiation process for procurement purposes in several of its operating groups, including IT, transportation, auditing and energy management. "Our buyers have incorporated the tool into their standard negotiation process," says Jim Cadres, Shaw`s vice president of buying support. "We look forward to expanding the benefits of online negotiation to other parts of the organization."

GNX adds that five additional companies are now participating in the GNX supply chain collaboration platform, though it declines to name them. In addition, it notes that the number of products its members are co-developing through the GNX collaborative product development platform grew to 4,400 in Q2, up 30% from 3,400 a year ago. The number of suppliers participating in the collaborative platform rose to 660 in Q2, up from 550 in Q1, GNX says.

GNX`s retailer members also include Sears, Roebuck and Co., Coles Myer Ltd, The Kroger Co., Federated Department Stores Inc.