MFG.com, the world’s leading online marketplace for sourcing the manufacturing of made-to-order parts, textiles and packaging, today announced the official release of LiveSource, a cloud-based sourcing and supplier relationship management system for OEMs and product companies.
LiveSource is built specifically for the manufacturing industry and for companies that have a high mix of custom and made-to-order parts and tooling. The tool supports eight languages, multi-national operations, and is built on the same code base and data model as MFG.com’s global manufacturing marketplace. This makes LiveSource the only cloud-based tool with native integration to a global marketplace for precision supplier discovery and collaboration.
“LiveSource changes the game for manufacturers sourcing locally and globally,” says Mitch Free, founder and CEO of MFG.com. “When you combine global connectivity, the power of communities, and cloud-based technologies with the digitalization of design and manufacturing, it opens up endless new possibilities to rethink strategies. LiveSouce is at the center of this technology convergence and allows companies to both work with incumbent suppliers and rapidly qualify and assemble new supply chains and meet today’s often job-to-job requirements and shortening product lifecycles.”
LiveSource is already in production use by leading multi-national corporations in the aerospace, automotive, consumer products, defense, luxury goods, and oil & gas industries. Companies such as Dassault Aviation, Thales, Axens, Kimberly Clark, MTU, and Cartier currently use the solution.
“By using LiveSource, our team was able to be a lot more efficient. We used to accomplish around 100 RFQs a year. Now, we can complete 6,000 projects without increasing headcount whatsoever. The more bids we are able to perform, the more cost savings we see. Additionally, having the virtual marketplace of qualified suppliers is invaluable,” reflects Mark Rosenquist from Kimberly Clark. Within the European market, Martin Dillmann of MTU states, “We are convinced of the benefits of LiveSource because of its simplified RFQ process, the fast and easy quote analysis as well as the full documentation of the RFQs.”
Jason Busch, executive editor of the industry-leading blog Spend Matters says, "Direct materials sourcing requires a fundamentally different approach. Specialized tools can make organizations that much more effective, bridging the gap between design/engineering, prototype parts, production sourcing, category management, commodity management and materials management, especially in a global environment. LiveSource joins a small group of specialized direct materials sourcing providers, some of which are likely to reshape the market for sourcing, search and supplier management toolsets."
MFG.com is the largest and most trusted online marketplace for the manufacturing industry and the developer of LiveSource, a cloud-based enterprise class sourcing and supply chain management solution. MFG.com is headquartered in Atlanta, Georgia and has regional offices in Paris, France and Shanghai, China. MFG.com’s investors include Bezos Expeditions, the personal investment company of Jeff Bezos and Volition Capital.