Retailers Unveil Supply Web Site

Tue., Feb. 29, 2000

From Staff

Retail giants Sears, Roebuck and Co. and France’s Carrefour are teaming with Oracle Corp. to set up a global online supply marketplace.

The new venture, announced Monday, teams the world’s No. 2 retailer, Hoffman Estates, Ill.-based Sears, with the largest retailer in Europe and Latin America, Paris-based Carrefour.

The two retailers will link up with their respective suppliers and distributors in an attempt to cut purchasing costs. The GlobalNetXchange site - to be operational in about two weeks - will allow network members to buy, sell, trade or auction goods and services online.

Besides conventional Internet auctions, similar to what occur on eBay, the site will also host reverse auctions, in which the buyer rather than the seller initiates the transaction. Users also will gain access to information about global inventories, demand and other data, enabling more efficient planning and ordering, the companies said.

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Retailers Unveil Supply Web Site

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