Internet bidding saves taxi maker 10% on its steel

17 January 2002
More news

17 January 2002

The company that makes London taxis may extend e-auctions for fuel and office supplies after it saved 10 per cent on steel.

The savings by Coventry-based London Taxis International (LTI) beat expected targets of 3-5 per cent on the annual purchase of 2,500 tonnes of steel in an online auction late last year, Adrian Banks, its purchasing manager, told SM.

"Suppliers were nervous, but we had a two- to three-month planning stage," he said.

Consultant Group Supplies set up the two-hour auction. There were four bidders but the firm remained with incumbent supplier HE Perry Willenhall.

A new LTI taxi has just been launched and the company's procurement function is under pressure to keep costs down when tooling-up, Banks said.

The company makes about 3,000 taxis a year.

• Taxi maker Manganese Bronze will buy Chinese-made components for its UK cars as part of its licensing deal with Brilliance China Automotive Holdings. Brilliance will make the car in mainland China for the next 20 years.

SMjan2002

LATEST
JOBS
Hounslow, Heathrow /Richmond upon Thames
Competitive salary depending on experience plus generous share award
Tails.com
Surrey
GBP50000 - GBP55000 per annum + Benefits
Bramwith Consulting
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE