FreeMarkets OnLine V. Kasturi Rangan

FreeMarkets OnLine® How does FreeMarkets Online create value for its customers? How is it different from existing/traditional models? *<Tab/>Cost savings through lower prices for sourced materials FreeMarkets enables the customers to achieve significant savings in procurement by creating a virtual marketplace, in which multiple suppliers around the world can underbid each other in real-time. There are five steps needed to achieve this, which are handled by …

…competency. As was mentioned earlier, the market is still growing at a fast rate. FreeMarkets must expand its market as much as possible in order to prepare for the risk of new entries. This could be achieved by a growth-by-acquisition strategy. Acquisition of a supply chain consultancy would enable FreeMarkets to cover a larger customer base immediately. Growth is presently the most effective strategy to avoid competition and to pave the way for future profits.