MFG.com, Inc. Introduces Collaborative Procurement Management TM (CPM) and Breaks Technology Ground with Version Two Web Site
The Web Marketplace for Buying and Selling Manufacturing Services Pioneers Internet Procurement Solution
Atlanta, Ga., - August 14, 2000 - .com, Inc. announced today the unveiling of their newly-expanded Version Two Web Site at www.MFG.com. The web site introduces their exclusive Collaborative Procurement Management (CPM) system, a new-to-the-industry eProcurement solution. MFG.com was launched earlier this year as the first Web-based marketplace connecting suppliers with companies purchasing custom manufacturing services. Today, the web site introduces sophisticated features for Collaborative Procurement Management that surpass the site's original function of matching buyers with vendors. This proprietary technology automates traditional procurement practices, streamlines the private quoting process, and creates an efficient and transparent eMarketplace for buyer-seller collaboration and transactions. ".com is a "win-win" eCommerce environment for both buyers and suppliers," states Mitch Free, president of .com, Inc. "We are directly focused on the mid-sized and small manufacturers, a blind spot for larger exchanges focused on big-business-to-big-business commerce. Our unique technology can play a leading role in helping buyers reduce costs and procurement lead time, while helping suppliers grow their business. We are confident CPM will set the standard in custom manufacturing eProcurement for years to come, and brand MFG.com as a household word in the industrial marketplace."
CPM Delivers Solution-level Services for Buyers and Sellers at MFG.com
The procurement process for custom parts relies on the accurate and timely communication of technical information. Dialogue between buyers and sellers typically involves the exchange of CAD data and technical specifications, as well as addressing business and logistical issues. Data incompatibilities and nonconformity to industry standards are common roadblocks that add time and cost to the bottom line. Collaborative Procurement Management not only matches buyers and sellers, but more importantly automates interaction, and facilitates shared business processes. CPM eliminates point-to-point connections and allows buyers and sellers to efficiently manage their relationships with one another.
MFG.com Buyers Discover Fast Track Purchasing using CPM Technology
Collaborative Procurement Management gives buyers of manufacturing services the ability to manage and track the procurement process online. Buyers can now manage Requests for Quotes (RFQs) as projects; make RFQs selectively available to certain vendors; specify RFQ target price; and access closed projects for historical analysis. Active projects contain real-time summary information, including estimated project cost, time-to-project completion, variance to project budget, and RFQ-Supplier activity for a particular project. By organizing RFQs in a project associated to a procurement activity, buyers and suppliers can easily sort and filter through an infinite number of RFQs.
Sophisticated Job-Bots for Suppliers Deliver Maximum Efficiency at MFG.com
CPM was developed to help sellers of manufacturing services manage and grow their business more efficiently. These automation tools enable them to manage outstanding quotations, reduce cyclical workloads and increase profitability. Suppliers can employ Job-Bots to automatically search for RFQs that meet their expertise and capacity. Job-Bots are specific to machine tools, work cells or specific processes on a supplier's shop floor. They automatically notify suppliers of RFQs meeting the Job-Bot criteria. Suppliers can analyze "won vs. lost" quotes; obtain instant notification for accepted or rejected quotes; obtain quote ranking versus other quotes submitted, and directly communicate with potential customers worldwide.
Pricing and Support
MFG.com is a no-commission, non-auction eProcurement service. Buyers can post RFQ's for free. Suppliers typically pay a flat annual fee or a quarterly fee based on their selected level of service. The company's customer support team will help facilitate the posting of any RFQ without cost to the buyer.
About MFG.com
MFG.com is the largest global online marketplace for the manufacturing industry. MFG.com instantly and intelligently matches sourcing professionals and engineers with suppliers who have the right expertise and capacity to manufacture parts and tooling on demand in accordance with their engineering drawings and CAD files. MFG.com's on-demand service is consolidating the once- fragmented world of manufacturing into an efficient marketplace, enabling products to be sourced and built more easily, quickly, inexpensively, and at higher quality levels. For more information, please visit http://www.MFG.com.
About MFG.com
MFG.com is the largest global online marketplace for the manufacturing industry. MFG.com instantly and intelligently matches sourcing professionals and engineers with suppliers who have the right expertise and capacity to manufacture parts and tooling on demand in accordance with their engineering drawings and CAD files. MFG.com's on-demand service is consolidating the once- fragmented world of manufacturing into an efficient marketplace, enabling products to be sourced and built more easily, quickly, inexpensively, and at higher quality levels. For more information, please visit http://www.MFG.com.