Changyi Petrochemical's e-purchasing platform system was successfully launched in July, and the company's producer goods were procured through the information platform. The company has successfully saved 7.27 million yuan ($1.16 million) in purchase costs as of the end of December.
To date, the company has realized online purchase of 45 major materials. A total of 4,495 demand orders have been keyed in, and 536 sourcing plans were submitted. There are 451 online suppliers, and a total of 536 contracts have been concluded online, involving 520 million yuan in practical purchase value. The online purchase has improved the company's profitability.