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ManufacturingQuote Releases MfgQuote ProBuyer v.1Blends Public and Private eMarketplace Functionality (October 15, 2001)
A MfgQuote ProBuyer has the ability to source within their own private supply chain, or tap into new Suppliers in the global MfgQuote Network, a public eMarketplace. The product provides a confidential, online medium that protects and values existing Buyer/Supplier relationships, while fostering a high level of trust and security between Buyers and Suppliers forging relationships for the first time. This new product is an advanced version of MfgQuotes exclusive Collaborative Procurement Management (CPM) technology. MfgQuote ProBuyer delivers four major benefits: 1) a Supplier Relationship Management (SRM) environment, 2) expanded transactional functionality for the Buyer, 3) powerful management features, and 4) a wide range of new reporting and data analysis tools that yield a greater understanding about sourcing activities.
Another product highlight is the ProBuyer Control Center, which helps companies refine commodity management strategies and negotiate better contracts. ProBuyers are linked to a common Control Center, where aggregated data can be viewed and analyzed. Linked ProBuyers can share sourcing information with each other and leverage the corporate knowledge base to make well-informed buying decisions. The Control Center is web-based and can be accessed from any web browser, which gives off-site or traveling purchasers 24 x 7 usage. Purchasing Managers can review all Buyer activity from the Control Center, thus reducing maverick buys and enforcing procedural compliance.
"MfgQuote ProBuyer is our answer to the value equation of public versus private eMarketplaces, states Mitch Free, president and CEO of ManufacturingQuote, Inc. "Many Buyers have asked for the flexibility to work with their existing Suppliers, in conjunction with our public eMarketplace. MfgQuote ProBuyer was conceived to leverage a companys internal sourcing intelligence, and at the same time, forge new and strategic supply chain relationships."
MfgQuote ProBuyer gives a Buyer the flexibility to expand and fine-tune its supply chain of existing or new Suppliers. The MfgQuote public eMarketplace enables Buyer members to source for additional Suppliers and obtain competitive quotes, while transcending the geographical boundaries and logistics barriers of the past. A winwin example is a Buyer receives a very competitive quote from a Supplier member because they have an extra piece of the required material left over from a previous job, or perhaps the supplier already has a machine setup to run similar components. Finding these types of competitive purchasing circumstances would be unlikely if the Buyer was restricted to traditional sourcing means. The new Supplier is an unknown quantity, outside of the Buyers typical mix of existing Suppliers. The prudent Buyer will want to qualify the new Supplier and request due diligence information when evaluating an RFQ (Request for Quote).
MfgQuote ProBuyer simplifies and expedites the Supplier qualification process by offering instant access to critical due diligence information on Suppliers that has been compiled in a secure environment. Decision-makers can examine this meaningful data at the click of a mouse. Using ProBuyer, the procurer has the ability to search for Suppliers by criteria such as capabilities, location, quality certifications, past jobs quoted, past jobs awarded by other marketplace participants and much more. The search produces a list of Suppliers and detailed information on the identity of the company, certifications and associations and references, as well as comments from other ProBuyer users who have previously conducted business with them. Using MfgQuote Buyer, purchasers find more detailed information available on prospective Suppliers, and will have an increased confidence level in bringing mission-critical RFQs to the public marketplace.
MfgQuote ProBuyer provides a sophisticated toolset to capture and query supplier information. Data reported is both objective and subjective in nature and will come from four primary sources:
1) from Suppliers during registration,
2) Third party resources,
3) ProBuyers interaction experience with Suppliers, and
4) data-driven information generated by analysis of activity data.
The MfgQuote ProBuyer will also find a fine blend of transactional features to source in both public and private marketplaces. While conducting eSourcing activities, Buyers can post an RFQ in the public marketplace at anytime. Buyers can create supplier groups on-the-fly, then edit the grouping to include or exclude vendors. Buyers can also make RFQs selectively available to individual suppliers or groups of suppliers.
ManufacturingQuote, Inc. is a privately-held Atlanta-area company that develops and markets the exclusive MfgQuote Network to a worldwide audience. The company also private labels its exclusive eProcurement technology and executes corporate implementations. ManufacturingQuote provides a non-auction procurement environment that is equally rewarding to buyers and suppliers. The web site provides Collaborative Procurement Management tools allowing members to manage the business of procuring and selling custom manufacturing services such as precision CNC machining, molding, casting or rapid prototyping. ManufacturingQuote can be contacted at 770-444-9686. For late-breaking information, visit http://www.mfgquote.com.
Related Keywords:ManufacturingQuote, MfgQuote ProBuyer v.1
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