14 February 2008 | Jake Kanter
Chocolate retailer Thorntons has reduced the cost of the flowers it sells by using an e-auction.
The confectionery firm conducted the reverse price auction with four flower suppliers, which resulted in a price drop of 30 per cent. The firm would not reveal the financial cost saving.
The chocolatier said using e-procurement had helped them build their knowledge of the supply market and secure a more competitive price.
Caroline Simpson, senior buyer at Thorntons, said in a statement: "Each florist was invited to take part in the reverse auction event after submitting high quality tenders for the contract and the results were very successful." The auction was organised by technology firm Wax Digital.
The flowers are being sold as part of Thorntons' range of Valentine's gifts.