MfgQuote.com Unveils Online Collaborative Sourcing Service For Manufacturing

System Lets Buyers Dynamically Discover Manufacturing Partners and Efficiently Manage All Aspects of Multiparty Sourcing

ATLANTA, Dec. 13 /PRNewswire/ -- MfgQuote.com, the world's largest marketplace for sourcing and selling custom-manufactured goods and services, today announced the general availability of a new collaborative sourcing service created exclusively for OEMs who source custom-manufactured components through MfgQuote.com. This new service enhances MfgQuote.com's focus on community by furthering collaboration in the enterprise and also helps to increase the quality of sourcing, improves buying decisions and saves time and resources.

"We are helping to unlock the intelligence of the enterprise," said Mitch Free, president and CEO of MfgQuote.com. "This service will allow engineers and buyers to collaborate with suppliers during the design phase in the product lifecycle and dramatically reduce the product cost and time to market while increasing product quality and customer satisfaction. This gives our community of buyers, engineers, and purchasing professionals the ability to discover and collaborate with the perfect supplier for a project, and manage valuable relationships for continuously improving performance."

Collaborative sourcing is the participation of multiple purchasing professionals and/or engineers collaborating internally or with external suppliers in a single sourcing system. The new offering provides a suite of online tools that streamline the sourcing process, automate collaboration and efficiently manage the supply chain. Buyers linked together online can securely distribute Requests for Quotes (RFQs), collaborate internally with other buyers, collaborate externally with suppliers, manage supplier data, and perform advanced sourcing analytics at an individual, group or product level. The new service is hosted and managed by MfgQuote.com, with no software or hardware for the customer to buy or maintain. The service is free to purchasing professionals and engineers sourcing engineered to order parts on MfgQuote.com.

The collaboration enabled through MfgQuote.com's standardized sourcing platform gives companies a sharable, macro-level view of their supplier network. The result of this improved communication is higher sourcing quality, more informed buying decisions and sustainable bottom-line savings.

    Key features of MfgQuote.com include:
    - Collaboratively Source with Others Inside and Beyond Your Company.
      Buyers, engineers and others who play a role in sourcing can collaborate
      seamlessly on sourcing events. For example, a buyer may be responsible
      for the business aspects in a sourcing process, and an engineer may be
      responsible for the technical aspects, such as providing CAD files or
      answering technical questions. Both can interact efficiently to produce
      an RFQ, respond to suppliers, and evaluate quotes.
    - Complete Audit Trail and Leveraged Corporate Intelligence.
      System-generated and user-added notes to supplier profiles, RFQs, quotes
      and quote actions (award, decline, negotiated, etc.) provide a complete
      audit trail for sourcing events and create sharable corporate
      intelligence.
    - Shared Information, Reporting and Data Export.
      Companies can selectively enable linked users to share data such as
      preferred/approved suppliers lists, blacklists, supplier ratings and
      prior history with a supplier. Users can create project folders and see
      rolled-up, projected, per-unit costs for all components in a folder as
      quotes come in. This makes it easy to compare quotes to baseline or
      target prices. MfgQuote.com provides a comprehensive suite of reporting
      tools enabling companies to run on-the-fly "what if" scenarios and to
      export data to Excel or other internal systems.
    - Include Favored Suppliers.
      MfgQuote.com users can invite their existing suppliers to participate
      in RFQs, even if those suppliers are not already members of the
      MfgQuote.com network. Invited suppliers may quote work, but only for the
      invited RFQs. MfgQuote.com respects privately invited suppliers and
      their privacy.
    - Digitally Signed Non-Disclosure Agreements.
      When users create an RFQ they can elect to require suppliers to
      digitally sign non-disclosure agreements before accessing drawings and
      documents. And as a secondary level of security, users can elect to
      review the signature and company profile prior to granting access. Thus,
      no one gets access to data without explicit approval.

More than 43,000 buyers across the industrial spectrum (aerospace, transportation, consumer products, electronics and more) use MfgQuote.com to source, collaborate, and receive quotes online for more than 200 manufacturing processes such as CNC machining, metal stamping, forging, plastic molding, metal fabrication and metal casting.

About MfgQuote.com

MfgQuote.com is the world's largest marketplace for sourcing and selling manufacturing goods and services. Headquartered in Atlanta, MfgQuote.com instantly and intelligently matches buyers with suppliers of manufactured parts across the globe, greatly expanding business opportunities for both. MfgQuote.com is transforming the once-fragmented world of manufacturing into a single, on-demand service, enabling products to be sourced and built more easily, quickly, inexpensively, and at higher quality levels.

CONTACT: Jeff Aubin of Beaupre & Co. PR, +1-603-559-5838, or
Email Contact; or Dave Faupel of MfgQuote.com, +1-678-556-2956, or
Email Contact

Web site: http://www.mfgquote.com//




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