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Tube Lines Save £3.5 million in Online Auctions - Using their MoD Framework processes GS reduced Tube Lines costs by £3.5 million against projected contract commitments. The process used was fully compliant with UK and European Procurement law
Tube Lines Save £3.5 million in Online Auctions

 

PRZOOM - /newswire/ - Cheltenham, Glos, United Kingdom, 2006/08/25 - Using their MoD Framework processes GS reduced Tube Lines costs by £3.5 million against projected contract commitments. The process used was fully compliant with UK and European Procurement law.

   
 
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Towards the end of last year Tube Lines Ltd commissioned GS Auctions Ltd to undertake a number of reverse auctions to create savings for their company.

Using their MoD Framework processes GS reduced Tube Lines costs by £3.5 million against projected contract commitments. The process used was fully compliant with UK and European Procurement law.

Tube Lines works in partnership with London Underground and is rebuilding the Jubilee line, Northern line and Piccadilly line.

Andrew Geffryes, Head of Corporate Procurement for Tube Lines Limited commented: “As Tube Lines had no direct previous experience we looked for a reliable and trusted partner to lead us in the use of reverse auctions. We chose GSA and the initial trials proved very successful, this led to us extending our use of GSA to run a series of reverse auctions in both the traditional commodity type areas as well as more specialist ones, achieving saving up to 42%! GSA now also provides us with much needed support assisting our team in running the occasional tender when our resources are stretched.”

GS Auctions Ltd (groupsupplies.com) provides wide ranging consultancy services to the Public and Private sectors and is the contracted supplier of reverse auction services to the Ministry of Defence.

The GS process enabled the Defence Communications Services Agency (DCSA) to win the CIPS award for “The Best Public Procurement Project 2005” when GS saved DCSA £4.2 million on their electronic office supplies.

 
 
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Tube Lines Save £3.5 million in Online Auctions

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Contact: Charles Eddolls - GroupSupplies.com 
+44(0)12 4254 1020 charles[.]groupsupplies.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any GS Auctions Ltd securities in any jurisdiction including any other companies listed or named in this release.

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