Dallas January 7, 2003 estorefixture, an online sourcing and procurement service for the retail industry, has been rechristened DAVACO Sourcing as the company moves to target non-retailers, too.
"The new name reflects the company's expanded sourcing capabilities and marketing strategy targeting retailers and non-retailers alike," DAVACO Sourcing said in a statement on the name change, which takes effect today.
"The face of procurement and global sourcing is changing," said Rick Davis, CEO and president of DAVACO Sourcing. "We are responding to that change and meeting our customer interests by providing sourcing and procurement services beyond store fixtures."
According to industry research, an effective sourcing program can help companies reduce their cost structure, better control total spending and improve operation efficiencies. Procurement service and technology providers say they offer the economies of scale, category expertise and infrastructure that many firms lack to carry out effective sourcing activities, and some industry analysts have predicted an increase in procurement outsourcing.
Technology consultancy Aberdeen Group, for example, has estimated revenues for outsourced procurement services will grow from the $4.8 billion reported in 2001 to $9.7 billion in 2005.
DAVACO Sourcing, founded in September 2000, offers such services as proposal development, design support, supplier research, qualification and communication, online bidding/auction services, report analysis, best practices purchasing methodology and program analysis.
DAVACO Sourcing is sister company of Davaco, formerly Fixture Perfect International, a 12-year-old provider of services for the management and execution of new store, remodel and high-volume rollouts for the retail industry.