Mars Inc. is the world's largest privately owned business that purchases $4 billion worth of materials annually. It has grown from $300 million in sales in 1970 to $20 billion in 2008 with 70,000 employees. Currently, Mars negotiates purchases one-on-one with suppliers to determine delivery conditions, quality, price, and other terms, but is considering implementing online reverse auctions to take advantage of competitive bidding while maintaining its culture of benefiting suppliers.