The transaction value of online auctions at GlobalNetXchange LLC, the b2b marketplace for retailers and their trading partners, surpassed $1.4 billion in the first-quarter, up 112% over Q1 of last year, the exchange says. “All of our customers are doing auctions and we expect that to continue to grow,” Nick Miller, director of supply chain services, tells InternetRetailer.com.
Since its debut in 2000, GNX’s members have conducted nearly 12,500 auctions valued at more than $9 billion, GNX says. GNX’s members include Sears, Roebuck and Co., Carrefour SA, Kroger Co. and Federated Department Stores Inc.
GNX also reports growth in the use of its supply chain collaboration services. “We were particularly pleased with the growth in the supply chain collaboration area during Q1,” says CEO Joseph Laughlin.
Q1 activity in its collaborative product development platform, which enables retailers and CPG manufacturers to work together online in developing private label products, involved more than 2,000 products, up from 900 a year ago.
GNX also says 29 companies, including retailers and manufacturers, were sharing information such as sales forecasts and production schedules through the GNX supply chain collaboration suite in Q1, up from eight companies in Q1 of last year. Participating retailers include Sears and Germany-based Metro AG, but others have yet to make public their collaboration projects, GNX says.
Back...
