The Challenge:
Buyers of GDT products have varying needs in terms of quantity, some requiring multiples of a full container, others only a fraction. Sellers wish to ‘clear’ the market where possible, due to the perishable nature of Dairy Products.
The Solution:
Perfect Channel designed and deployed a trade optimization algorithm focused on market clearance. The algorithm distributes the auctioned product across participating bidders, minimizing residual unsold product, satisfying as much demand as possible across all the bidders.
The Results:
For high demand products, there was an average increase in sales price of 10% compared to ‘fixed price’ tenders. Sellers also saw an increase in the rate of market clearance, critical to increase certainty and avoid wastage.