SMC’s auction yielded a winning supplier that bested 56 bids from 11 suppliers. The winning bid reflected a 17 percent discount on SMC’s last purchase price.
"We are very pleased with the results of our auction," SMC’s Central Purchasing Unit said. "Through SourcePilipinas, SMC was able to drastically reduce the task of sourcing the critical many, which are mostly off-the-shelf items with standard specifications that can be handled through an automated system, hence freeing our personnel to concentrate on the critical few, whose specifications are more complex and require focus."
SourcePilipinas is an e-marketplace that enables companies to transact business for their expenditures and services. SMC is included in a roster of over 300 trading partners who benefit from membership in SourcePilipinas.
"On one hand, the transparency in the system promotes competitive pricing, which is beneficial to the buyer. On the other hand, multiple bidding gives suppliers numerous chances to post their best offers, unlike offline quotes which are often one-time only," Christine Yap, SourcePilipinas’ COO said. "We recognize the need for buyers to generate cost savings, and suppliers to tap into new markets. It’s a win-win situation, especially during these difficult times."
"Because of the transparent process afforded by SourcePilipinas, SMC can achieve the cheapest price for voluminous materials ordered regularly. Once the best price has been contracted, the system allows for direct orders to the winning supplier, eliminating the need for additional paperwork such as materials requisitions and purchase orders," SMC said.
In addition to the Auction feature, SourcePilipinas’ members gain access to an extensive catalogue for their immediate requirements. The catalogue includes top-selling items such as office supplies, computers and accessories, and hardware and construction materials.
"Membership in SourcePilipinas has simplified our procurement process, on top of tangibles such as lower purchase costs. E-procurement enables us to actively participate in increasing SMC shareholder value, as these cost savings directly translate into the company’s bottomline," SMC added. "We look forward to many more transactions through SourcePilipinas."