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B-Stock Solutions

Gold Stevie Award Winner 2012, Click to Enter The 2013 American Business Awards

Company: B-Stock Solutions, Redwood City, CA
Company Description: B-Stock Solutions builds and manages private auction marketplaces to help major brands like Walmart, Sam's Club, Macy's, and Whirlpool liquidate smarter by simplifying their liquidation processes, and get a higher return on their excess inventory by connecting them to buyers through the B-Stock Sourcing network. Buyers love us because they can get direct access to retailers. Rated 9/10 by buyers.
Nomination Category: Products & Product Management Categories
Nomination Sub Category: New Product or Service of the Year - Software - Supply Chain Management Solution

Nomination Title: The B-Stock Sourcing Network by B-Stock Solutions

Tell the story about this nominated product or service (up to 500 words). Describe its function, features, benefits, and performance to date.

Found in October of 2011, The B-Stock Sourcing Network allows for small- and medium-sized retailers and resellers to buy overstock inventory in bulk, directly from large Fortune 2000 retailers and manufacturers. The B-Stock Sourcing network is made up of private auction marketplaces that B-Stock Solutions builds, powers and manages for large retailers such as Walmart, and Sam's Club, among others. These private auction marketplaces enable retailers to auction off their overstock and liquidation inventory directly to small and medium sized business buyers at a fraction of MSRP. Buyers gain access to the overstock inventory directly from major retailers without the middleman markups of large liquidators and can bid on overstock inventory with confidence, knowing whom they’re buying from, and what they can expect.

The B-Stock Sourcing Network offers unparalleled value for buyers of pallet- sized and bulk lot overstock inventory. Thousands of buyers love the B-Stock Sourcing Network because it provides them with direct access to a variety of major retailers they previously did not have access to, and the opportunity to buy overstock inventory in many different product categories that they previously were not able to buy without the middleman being involved. As a result, buyers pay less for inventory, and get higher quality inventory to resell.

Since it's launch in October, traffic to the B-Stock Sourcing network has continuously doubled month over month, with traffic now being 6 times more than what it was in October. Similarly, the number of new buyers per month in most of the private auction marketplaces within the B-Stock Sourcing Network has grown 4 to 5 times what it was in October. Surveys conducted in late 2011 indicated that 9 out of 10 buyers would refer the B-Stock Sourcing Network to other potential buyers if it wasn't already their business' best kept secret. Surveys administered in February of 2012 showed buyers rate the B-Stock Sourcing Network 4 out of 5 stars in overall satisfaction, and 4.2 stars out of 5 for overall importance to their business. In addition, B-Stock Sourcing Network's ratings were either first or tied for first when compared to ratings of other B2B inventory supply marketplaces (see supporting file).

Our sellers (major retailers and manufacturers such as Walmart, Sam's Club, and Macy's) are also extremely delighted on the advent of the B-Stock Sourcing Network, crediting the tremendous growth of traffic and business to the network's ability to educate and drive active buyers to their respective marketplaces.

Upload a collection of supporting files and web addresses to our server to provide more background information to the judges. You may upload any number of attachments and URLs through the "Add Attachments, Videos, or Links to This Entry" link above. (Do NOT list your URLs below.)

 

Provide a brief (up to 100 words) biography about the leader(s) of the team that developed this nominated product or service:

Howard Rosenberg, CEO - Howard founded B-Stock Solutions in 2008 after working at eBay for over 6 years. At eBay, he was most recently GM of eBay’s enterprise B2B business. Howard has helped enterprise customers liquidate nearly $1 billion in excess inventory through online auctions. He was recently named by Supply Demand Chain magazine as a "Pro to Know".

Jimmy Lau, Director of Marketing - Jimmy joined B-Stock Solutions in 2011 to help B-Stock change the supply chain management industry. Prior to B-Stock, Jimmy spent 8 years at Alibaba.com and Squaretrade.com, marketing to the SMB/SME retailers.