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The company has run two auctions so far for indirect goods - products which support the administration of business rather than production - using Web-based auction software from Portum.
The company aims to roll out the auctions to its various global divisions as an integral part of its supply chain strategy.
Besides being able to gain lower prices through online reverse auctions the company is making savings through increased efficiencies in staff time.
David Nash, global e-sourcing trainer for the BOC Group, said, "The potential cost-savings from online auctioning are expected to run into hundreds of thousands of pounds, so it is obvious why the move towards e-sourcing is such a critical part of our business strategy."