Federated Leverages Online Auctions via B2B Exchange

Federated Department Stores, Inc., has joined GlobalNetXchange, according to the B2B marketplace. Federated, which has completed a successful auction pilot program, will integrate the GNX Negotiations solution into their global procurement process for apparel and other goods for resale.

“Customers depend on Federated stores to deliver innovative private brands and excellent value. In fulfilling this mission, we are aggressive in our pursuit of strategies, like online negotiations, that can help us drive down costs in our operations, while also helping buyers be more productive,” says Harry Frenkel, chief financial officer and S.V.P. finance/logistics/facilities for Federated Merchandising Group. “The benefits of auction procurement for non-branded and private brand goods are proven. We’ve chosen to partner with GNX because they offer an auction tool and support services tailored to retail buying processes — and the opportunity to learn best practices from GNX’s retailer community.”

Moderator Comment: Does GNX have greater value for retailers in some trade channels than in others? Is it a tool for large chains only?

GNX continues to add heavy hitters to its roster of cross-channel
retailers. [George
Anderson – Moderator]

• Federated Joins GlobalNetXchange to Leverage Online Auction Service – PRNewswire