Forestweb, Inc. recently completed two online reverse auctions for Kruger, Inc., a supplier of tissue, newsprint and other pulp and paper products.
Kruger used a private online reverse auction to competitively procure fuel oil for two of its paper mills. The entire process, from concept to execution took about a week; the auctions lasted for approximately 30 minutes each with up to six suppliers bidding against each other for the opportunity to deliver fuel oil to Kruger's mills.
Bidders were notified via email about the auction, and given a demo site to practice. When the time came to begin bidding, all participants were comfortable with the complete process. Kruger chose to conclude the transaction offline at the close of the auction.
Explore the September 2000 Issue
Check out more from this issue and find your next story to read.
Latest from Recycling Today
- Greenwave raises revenue but loses money in Q2 2025
- Recycled steel prices hold steady
- EY says India’s need for scrap imports will continue
- Coming full circle
- Amcor, DCM introduce fertilizer packaging with 35 percent recycled content
- Comstock Metals gets closer to commissioning commercial-scale solar panel recycling facility
- Washington selects Circular Action Alliance as PRO
- Smurfit Westrock expands in Latin America
