Chemdex has assembled a team of scientists, internet pioneers, and business people dedicated to dramatically improving the scientist's purchasing experience by enabling them to search for products and purchase directly online. The chemical and life science market is particularly suited to the vortex model. On the sell side, there is fragmentation in the supply chain, a richness of product information and inconsistencies in the technical specification. On the buy side, there are few opportunities in the traditional marketplace for aggregation. Products are generally offered through hundreds of paper catalogs.
Scientists select the products desired and place orders via phone with multiple suppliers.
Many research products are highly technical, requiring a large amount of supplemental product information to assist in the purchase decision. This structure results in a time-consuming purchasing process. According to Chemdex customer research, the average life science researcher spends three to six hours each week procuring products. It is also difficult for a researcher to find a specific product and access the information necessary to make a purchase decision. And, when buyers find the product they want, they can place orders from multiple suppliers all in one place, with a click of their mouse.