05 June 2003 | Robin Parker
Former FreeMarkets staff have set up a consultancy for suppliers to help them get to grips with online auctions.
ForeSource offers training programmes and online advice to help suppliers in project management, and to develop a bidding strategy that could win them new business.
The firm has licensed software from online sourcing solutions vendor Portum on which to demonstrate e-auctions to their course participants.
Jenny Draper and James Anthony, the company's co-founders and directors, previously managed global sourcing projects for FreeMarkets' clients.
They say the combination of their experience managing the buying process at FreeMarkets and a stronger supply base will create better buyer-supplier relationships in auctions.
Their experience shows most suppliers are unaccustomed to using e-auction technology as a negotiation tool, and many are concerned that auctions are all about pushing down prices.
Anthony said: "Our job is to provide suppliers with the tools they need to win e-auctions and assure buyers that they're dealing with highly trained and e-auction-savvy organisations."