RealTime IT News

Second Australian Bricks And Mortar Hub Announced

[Sydney, AUSTRALIA] The Commonwealth Bank Group, Woolworths Limited, Lion Nathan, EDS Australia and the Telecom New Zealand Group, (which includes TCNZ Australia and AAPT) have signed a heads of agreement to set up an online procurement buying hub creating a new company called Cyberlynx Procurement Services Pty Ltd.

"The exciting thing about Cyberlynx is that these online benefits will not be confined to the founding companies. Cyberlynx will be open to the corporate market. It is proposed to offer cross-market Internet purchasing opportunities," said Barry Scott, acting chief executive officer of Cyberlynx.

Cyberlynx will focus on indirect products and Scott said it had commenced sourcing several supplies and services categories.

Cyberlynx said the venture will be structured around well aligned strategic partners with similar e-procurement goals and proven working relationships; with flexibility to tailor strategies to meet individual company requirements and suppliers engaged early in the process to ensure a sustainable supply chain. The company did not announce a technology provider, but said it would use "a flexible IT platform that can scale fast an experienced hub operator with proven tools and skills to develop robust sourcing strategies and supply arrangements. "

The Commonwealth Bank Group is the first of the founding companies to initiate the online trading model. Over time it is planned that employees in each participating company will participate in agreements negotiated by Cyberlynx.