A rather large long-term project we have been working on went live yesterday. Waste Web is an online waste trading website, providing an ethical and open trading platform to the flourishing waste management and recycling sector.
The site is in a marketplace format – waste processors, producers and intermediaries can log in, create their own (free) listings and manage their own accounts. All this is carried out via the “front end” of the website. Waste Web is only the “middle man” in these transactions, levying a small percentage of completed transactions as payment.
In order to meet all the needs of this specific industry, we have done a large amount of customisation work on the website. We’ve thoroughly customised the site’s bidding interface, search tools and registration fields to reflect the nature of the products and services being sold. Perhaps most significantly, we’ve implemented some interesting buying and selling methods which allow waste to be traded as effectively as possible.
There are three basic methods of buying and selling on the site. There is the standard forward auction, fixed price auctions and something called a “closed bid auction” – this is an auction in which participants make “secret” offers for a lot, with the seller being able to choose which offer to accept.
In addition, buyers can “advertise” lots in what is known as a “requirement auction“. Creators of a requirement auction state their need for a waste product, service or processing capacity. Providers of these then compete to offer their product or services, progressively lowering their bids until the buyer accepts.
Requirement auctions can also be carried out in a fixed price or closed bid format. “Repeat” auctions allow an auction to restart as soon as it finishes, intended for identical, regularly-available lots. For all except closed auctions, a bidding history is displayed listing previous bids made for a particular lot.
The site will be running as a “soft launch” for 60 days, as users become acquainted with the site. Waste Web will be available to provide any help or support needed during this period.
With the increasing pressure on landfill and ever-growing responsibility of adhering to legislation, it is more important than ever to generate new and innovative opportunities in this market. We’re glad to be involved in this project, and look forward to seeing it become a success.