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01.08.2018

What is PINPOOLS?

Although industry 4.0, in particular the topic of digitization, is currently among worldwide top concerns, administrative processes in the chemical industry are currently little digitized. Due to complex value chains and protracted release processes, a large proportion of the transactions are still processed analogously. This contrasts with the increasing complexity of procurement processes in the B2B sector. Studies show that purchasing has an increasing need for time and information, and that more people and different roles are involved in purchasing decisions.

To counteract this increasing complexity of purchasing raw materials, PINPOOLS was developed. The start-up company was founded in summer 2016 by the brothers Alexander and Heribert-Josef Lakemeyer, who had already founded a successful plastics extrusion during their studies of economics. Here they quickly realized how complex the analogous raw material purchase in the chemical industry is; they soon started developing PINPOOLS.

The platform maps the entire procurement process by bundling suppliers and buyers on a digital platform. So far, a buyer had to manually call his root suppliers, write e-mails or faxes, or establish direct contact via other media. This process is laborious and time consuming. On PINPOOLS, tenders are published by buyers only once. All providers who have deposited the advertised product in their portfolio are then automatically notified and can submit an offer. The buyer compares the prices and other conditions after completion of the tender and selects the suitable provider directly from an intuitive interface. In addition to this buyer-side auction process, a vendor-side shop has been implemented on the platform since August 2018. The so-called PINPOOLS marketplace offers providers of various chemical products the opportunity to market them efficiently and inexpensively via an additional, digital sales channel. Suppliers enjoy various advantages such as flexible pricing strategies and unrestricted direct contact with their customers.

The benefit for the buyers clearly lies in the simplification of the procurement process as well as in a reduction of the purchase prices by the mutual underbidding of the participating suppliers. The suppliers, on the other hand, gain an additional sales channel, which gives them access to new customers and markets. Both sides are thus realizing a significant reduction in transaction costs and time, and benefit from digitization without having to make costly investments.

The PINPOOLS target group includes all companies active in the chemical industry in Europe. Manufacturers, retailers and processors of all sizes and product lines are represented on the platform, which is why PINPOOLS can satisfy almost any need. The onboarding process takes only a few minutes, with each offering and purchasing company undergoing a REACH compliance review among other safety checks to ensure product quality and data protection.

PINPOOLS is the leading European B2B platform for raw material purchasing in the chemical and plastics industries; more than 100 of the most important dealers offer their products already. Also, some manufacturers are already represented on the platform. Through its own IT team, there is a significant development advantage over potential competitors, and the sales team is continually expanding the range of offering and purchasing companies.

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