World Wide Retail Exchange Enters Strategic Agreement With AgribuysThe World Wide Retail Exchange, Alexandria, VA, has entered into a strategic agreement with Agribuys, Torrance, CA, a provider of a global e-procurement mechanism for the food industry, the exchange said yesterday.
Through the alliance, the WWRE, a Web-based business-to-business exchange for retailers and their suppliers, will enhance its product offerings by adding an online marketplace for its food industry members. Retailers and suppliers will be able to source perishables, such as produce, meat, poultry and seafood, via Agribuys' business-to-business exchange platform.
"The Agribuys/WWRE alliance will create a single point of contact for our members to access a robust sourcing and procurement solution custom-created for the food industry," said Peter Jueptner, chief commercial officer at the WWRE. "We will help our customers broaden their market reach, reduce purchasing costs and increase sales margins."
Agribuys' functionality will especially benefit WWRE retail members who participate in perishable procurement, according to the WWRE.
In the future, Agribuys technology will allow WWRE member retailers and suppliers to improve performance through collaboration while benefiting from preferred pricing offered exclusively through the WWRE.