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What
is Medi-Exchange Auction Services?
Medi-Exchange Auction Services is designed to flexibly allow automated
real-time bidding for your existing procurement or liquidation processes.
Medi-Exchange Auction Services supplies businesses with a fully hosted
solution and provides you with administrative capabilities to control
the data and the bidding process. It enables businesses to conduct
online dynamic exchanges of products and services with their suppliers,
their channel partners and their customers. This Medi-Exchange Auction service
is available on Medi-Exchange portal.
What
is Dynamic Exchange?
A dynamic exchange is an online interaction where buyers and sellers
are able to arrive at an optimum price for each particular business
transaction. It has emerged as a powerful new tool for building
online bidding forums that help companies generate incremental revenue
or cost savings. In fact, many believe that online auctions are
the next major development in harnessing the power of marketplace
dynamics in real-time to achieve higher profits and improve efficiency.
How
will my corporation benefit from using Medi-Exchange Auction Services?
Medi-Exchange Auction Services provides you with an easy solution for the
liquidation and procurement negotiation process. Instead of purchasing
products and services at fixed prices from your suppliers, or selling
off your excess inventory, Medi-Exchange portal creates a more efficient
online environment where buyers and sellers can arrive at an optimum
price for each "exchange," with minimal up-front investment and
fast implementation times. Medi-Exchange Auction Services helps you save
valuable time by automating administrative tasks associated with
negotiations, increase speed of transactions, get better prices,
and generate new revenue channels from existing and new customers
by capturing the true market value of everything from scarce goods
and services to excess/obsolete inventories.
Describe
an example of a corporation using Medi-Exchange Auction Services for their
procurement process.
Medi-Exchange Auction Services simplifies and automates the negotiation
process for corporate buyers to establish true market prices for
goods or services purchased. The real-time bidding process created
results in significant cost reductions in purchasing.
Automotive Industry Scenario:
Your manufacturing operations rely on a massive supply chain for
the procurement of individual automotive parts used in building
cars. When your latest design model calls for a new CV axle, you
look to your trusted suppliers for bids. Traditionally, that would
entail a time-consuming and costly RFP and review process via fax,
telephone, or one-to-one EDI systems. With Medi-Exchange Auction, you would
be able to send out an RFP electronically to your entire network
of trusted suppliers and within hours, receive bids for supplying
the parts, and make arrangements for delivery. With Medi-Exchange Auction,
you have control of purchasing criteria for those instances when
distribution, financing or other terms outweigh the lowest price.
Describe
an example of a corporation using Medi-Exchange Auction Services to
liquidate excess inventory
Medi-Exchange Auction Services facilitates a better return on your dollar
in excess/obsolete inventory disposal by automating the process
and providing support for real-time bidding. This allows companies
to change or create new strategies for inventory disposal, eg: from
liquidators to channel, or to new markets.
Computer Industry Scenario:
Your company sells nationally known computer peripheral products.
A new 17" computer monitor model is to be launched in less than
a month. The price of the new model is $100 less than a similar
current 17" model that is on the market. There are about 300 units
of the current model in your own inventory that need to be sold
before the new model can be introduced. Traditionally, you would
call several of your distributors or computer hardware liquidators
to sell the end-of-life inventory, which is typically a time-consuming
and costly process for disposing of inventory. There is also high
potential for channel conflict with lower liquidation pricing versus
the current street price. With Medi-Exchange Auction Services, you would
be able to turn your inventory quickly and profitably. Within a
matter of hours, you can have all 300 monitors or any portion posted
on your business-to-business Channel Partner Web site and have bids
coming in from your first-tier distributors by the end of the business
day. Depending on the results, you can quickly and easily expand
the particular offering to other channels. You can specify the starting
bid price, bid increments, quantity and sales format, and auction
runtime. .
What
kinds of companies use Medi-Exchange Auction Services solutions?
Corporations seeking to incorporate dynamic exchanges into their
business model. Medi-Exchange Auction Services helps to reach new customers,
reduce operating costs, and provide another channel of distribution.
These companies use Medi-Exchange to introduce competitive market pricing
into supplier and customer relationships, and to reduce the time
and cost associated with current fax, email and phone-based price
negotiations.
What
makes Medi-Exchange Auction Services different from the competition?
Medi-Exchange offer comprehensive auction services which is fully integrated
with a commerce portal, providing global reach for supplier sourcing.
Medi-Exchange Auction Services, powered by SESAMi.com, is also the only offering
in the market today with multi-currency and local time zone support for multinational
e-commerce. Medi-Exchange Auction Services allows you to have full control
over where inventory goes, who buys, and how much competitors can
see. Medi-Exchange's Auction Services future direction includes support
for Exchanges Ð shipping and handling costs, plug in financing partners,
currency conversion etc. The future integration with Medi-Exchange's e-procurement
solution completes the e-commerce solution by supporting sourcing
of new suppliers and buyers and automating the buying and selling
process.
What
are some examples of Auction applications?
The following are examples of potential auction applications:
- Shipping and Trucking - shortages or oversupply of container
or trailer space.
- Warehouse space - shortages or oversupply of warehouse space.
- Perishable Goods - surpluses of perishable agricultural products
or other food items.
- Chemicals - the procurement or sale of chemicals for industrial
use.
- Travel Industry - time sensitive inventory such as hotel rooms,
airline seats, cruise ship tickets,time shares, tour space.
- Entertainment Industry - time sensitive events such as concerts,
sports events, etc.
- Real Estate - residential and commercial transactions such as
lease space and homes.
- Insurance Services - employee insurance services to corporations.
- All Manufacturing Industries - off-grade or surplus goods, particularly
those needing warehousing.
- Financial services - commodities, bonds and private stock exchanges,
along with related arbitrage markets.
- Foreign currency, with related arbitrage markets.
- Advertising space and time (print, TV and radio, outdoor, World
Wide Web).
Will
I be able to customize Medi-Exchange Auction Services with my existing
"company way"?
Yes, Medi-Exchange Auction Services can be customized and adopted to fit
and to improve your companyÕs processes without much effort. Medi-Exchange
provides many ways of customizing its content and appearance to
fit into your company's overall Web presence. Even non-technical
employees can set up items for auctions, define win parameters,
and customize the application to meet the look and feel requirements
of the organization through easy-to-use wizards.
What
level of security does Medi-Exchange Auction Services provide?
Medi-Exchange Auction Services supports all three different aspects of
security that are critical to a mission-critical application, including
proper authentication of registered users; encryption of secure
data during transmission; and controlled access to the data to the
authenticated users. Medi-Exchange supports the use of SSL technology for
tight security and data encryption. In addition, the system provides
full control to the administrator to manage the users by groups
and assign different levels of permissions to different groups based
on business rules. Medi-Exchange then makes sure that only the users who
have access to certain data can access that data.
What
kind of standards does Medi-Exchange Auction Services support?
Medi-Exchange Auction Services is a Web and browser-based solution. It
is built completely on open industry standards. The application
runs equally well in Microsoft Internet Explorer and Netscape Navigator
Browsers, providing universal access to the solutions from anywhere
in the world.
Does
Medi-Exchange Auction Services support different types of auctions?
Yes, you can choose from many auction formats, including:
English auctions: highest bidder wins for forward auctions; lowest
bidder wins for reverse auctions
Yankee auction: start from the highest to the lowest and keeps on
giving winners to get rid of inventory.
By law have to show quantity.
Sealed bid auction: everything is not disclosed.
Plus many more!
If
I only need one application today, such as Forward Auction, can
I add more capabilities in the future?
Yes, all of our applications share a common architecture and Web-based
user interface. You can seamlessly add applications as your company
expands its uses of online trading, without retraining employees
and customers, and without further integration effort.
How
will my suppliers get access to my auctions?
Medi-Exchange Auction Services is Internet-ready, requiring only that your
trading partners have access to the Internet using a standard Web
browser. This means that anyone you allow, anywhere in the world,
can immediately join your online marketplace without the need to
install and maintain custom software
Can
Medi-Exchange Auction Services scale to meet my needs?
Medi-Exchange Auction Services distributed, object-oriented architecture
allows marketplaces to run economically on a single server or to
scale over many servers to meet the needs of rapidly expanding e-commerce
companies. Multi-server set-ups allow the separation of I/O intensive
generation and serving of web pages from the time critical functions
of running markets so that the marketplace can handle large numbers
of users without sacrificing the speed of bid and trade execution.
Multi-server set-ups also allow for clustering and fail-over to
provide maximum reliability. .
How
does Medi-Exchange Auction Services really save time, increase revenue
and/or reduce costs?
In procurement:
By increasing the speed with which you obtain materials, components,
and services, especially when you are in a hurry or when supplies
are difficult to find. By automating the manual tasks associating
with creating RFQ/RFP packets and mail/email/faxing it to the suppliers,
notifying suppliers over the phone. Normally, such a process means
receiving responses, reviewing them, and then negotiating via phone/email/mail/fax
-- which can easily take 2-4 weeks. Medi-Exchange Auctions Services can
accelerate this process to a few hours or a few days.
In liquidation:
By increasing the speed with which you dispose of goods, so that
their value does not decrease.
How much does it cost?
Bidders can participate for free. For originators, there is a one time setup fee, commission fee & monthly subscription fee.
Contact our sales team at sales@medi-exchange.com for more details.
How can I get more information about Medi-Exchange Auction Services?
Contact our sales team at sales@medi-exchange.com.
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