REDWOOD SHORES, Calif. — Ford Motor Co., the world's No. 2 auto maker, said it bought $78 million worth of auto parts in the company's first online auction using Internet-based software created with Oracle Corp.
Ford's auction generated bids from as many as five suppliers and saved the auto maker more than $10 million, the company said. Ford plans to spend $300 million more in auctions this month alone as the company moves more of its parts purchases to the Internet.
The auction was the first for AutoXchange, a joint venture unveiled in November between Ford and No. 1 database-software maker Oracle. AutoXchange lets Ford use the Internet to streamline the way it buys parts and materials worldwide.
"We went up live one week ago with the AutoXchange," said Brian Kelley, Ford's vice president of electronic commerce. "We had double-digit savings in this production buy, and this is not a one-time event."