ChemConnect's Online Auctions Deliver an Average of More Than 1000% Return On Investment in Direct Raw Material Transactions.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--May 22, 2001 Buyers and Sellers of Chemicals and Plastics Optimize Product Costs and Improve Sales and Purchasing Decisions ChemConnect Inc., the company that operates the World Chemical Exchange, offering buyers and sellers of chemicals and plastics a dynamic online marketplace supported by strategic e-commerce services, today released new data that Members experienced an average of more than 1000% Return on Investment when procuring Procuring, in general, is the act of acquiring goods or services, usually by contract. It may refer to:
Companies realized an average of more than 1000% return on the initial investment made to host Corporate Trading Rooms in Q4 2000 and Q1 2001. In addition, companies reduced negotiation time by an estimated fifty percent with buyers' average savings of 5-25% over market prices and previous contract prices. Both buyers and sellers from multiple industries such as chemicals, household products, plastics, packaging, paints and coatings and pulp and paper use Corporate Trading Rooms for the sales and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of direct raw materials. Corporate Trading Room's flexible technology allows participants to make purchasing and sales decisions, not only on price, but also on delivery terms, levels of service and product specifications. Calculations to determine Return on Investment are based on index price or last contract price. Examples of companies who realized more than 1000% return on investment include: -- A Fortune 500 household products manufacturer realized a 1900% ROI on a $6.0 million purchase of glycol -- A leading specialty chemical company realized a 1500% ROI on a $3.0 million purchase of a petrochemical feedstock -- A top chemical manufacturer realized a 1700% ROI on a $3.0 million purchase of an alcohol "We're experiencing increased demand for our Corporate Trading Room online auctions as more companies realize they can streamline processes, optimize product costs, and come to agreement faster, at win-win prices, with both new and long-term partners," said John Robinson Several notable individuals have been named John Robinson: Politicians
As part of its auction offering, ChemConnect offers two levels of Corporate Trading Rooms support: Strategic Services and Basic Services basic services, n.pl frequently insurance companies split dental procedures into basic and major categories. Basic services usually consist of diagnostic, preventive, and routine restorative dental services. . Strategic Services are a full-service offering that cover every detail related to an online auction, from scoping the product to assistance with assessing auction results and awarding the business. Basic Services are built around a proven online auction platform designed for chemicals and plastics, and allow companies to leverage their in-house chemical expertise and conduct repeat online auctions easily, efficiently and cost effectively. Both services offer proven methodologies, in-depth chemical market and e-commerce expertise and technology to achieve optimum auction results. ChemConnect's online e-commerce solutions are browser-based and the implementation costs are minimal, providing a fast track to e-commerce. About ChemConnect ChemConnect, Inc. (www.chemconnect.com) operates the World Chemical Exchange, offering buyers and sellers of chemicals and plastics a dynamic, independent Internet marketplace See vertical portal and Web hub. supported by strategic e-commerce services. World Chemical Exchange Members have a choice of sales and procurement solutions that meet specific business requirements, and also benefit from ChemConnect's unmatched industry and e-commerce expertise. ChemConnect's online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. tools include the Exchange Floor, Corporate Trading Rooms, and the Commodities Floor. Founded in 1995, ChemConnect is headquartered in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] and has offices in Houston, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London, Paris, Philadelphia, Frankfurt, Rotterdam, and Singapore. Note to Editors -- ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners. |
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