Wax News Archive
Wax Digital Butters up Thorntons in time for Christmas
As part of a series of managed reverse auctions for Thorntons, Wax Digital has helped the leading high street confectioner to reduce the cost of dairy products in the run up to the Christmas rush, with significant savings on some of its key ingredients.
Three eAuction events were hosted by Wax Digital covering butter, creams and dried skimmed milk and the events marked a step change in sourcing practice for Thorntons, which has used auctions many times in the past, but rarely for direct ingredients.
The scope of the events was restricted to the next financial quarter's production since the company wanted to test how appropriate and effective eAuctions would be when sourcing core ingredients.
An initial pre-qualification of suitable supplier's was conducted before the eAuction and, following a thorough and robust evaluation, nine suppliers were pre-qualified and short listed across all three events.
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The results speak for the success of the events; with significant savings realised across all three events
 Thorntons
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The auctions were highly competitive and saw all suppliers bidding thoroughly during each auction driving costs down for Thorntons.
"W're delighted to have been involved with another successful event for Thorntons - especially since the core ingredients of its product were being sourced," said Daniel Ball, Director, Wax Digital.
"Many organisations have struggled to realise the full value of eSourcing because they simply don't have the skills in-house to best manage the planning, the process and the technology - using our consultants' expertise gives Thorntons the best possible results in a wide range of spend categories.
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