MFG.com’s Continued Focus on Core Business Drives Online Manufacturing Marketplace Growth

Reported economic weakness is creating new opportunities for the global manufacturing ecosystem

ATLANTA, GA – November 18, 2008 -- MFG.com, the world’s largest global online marketplace for the manufacturing community today announced that a continued focus on the company’s core business has attributed to record growth in revenue, buyer activity, RFQ volume, supplier subscriptions and other key performance benchmarks for the Company.

Key year over year highlights (Q4 2007 – Q3 2008) include:

* A record 52,000 sourcing events for direct materials with an annualized value of over $7 billion was sourced on the platform- resulting in a 65% increase in the value of awards to MFG.com supplier members.

* On average, buyers using MFG.com reduced their spend on direct materials by an estimated18% equating to savings of$1.2 billion annually.

* MFG.com’s supplier member base has increased by 28%. Supplier members now represent 43 countries, giving buyers the ability to do business with even more qualified suppliers around the globe.

* Supplier members continue to reaffirm the value of the MFG.com marketplace as evidenced by membership renewals increasing 36% for the period.

Additionally, the recently introduced MFG.com Textiles marketplace ( www.mfgtextiles.com) has experienced significant growth since its initial launch in February 2008. More than 15,000 textile buyers and factories covering home, apparel, commercial and industrial textiles are currently registered members of the MFG.com marketplace. To date well over $1 billion worth of textile opportunity has been sourced via the MFG.com marketplace.

“Our laser focus on our core business of operating a global marketplace for the manufacturing industry is paying huge dividends as we continue to garner the important herd effect that every two-sided marketplace needs, said Mitch Free, Founder & CEO, MFG.com. “We are continuing to see increased growth due to the market downturn as other sources of business are drying up. It is now more important than ever before for buyers and engineers to get better pricing and for suppliers to find alternative channels for acquiring new customers. With MFG.com, sourcing complex engineered parts and textiles is as easy as buying a book on Amazon.”

MFG.com is headquartered in Atlanta, Georgia and was recently named by Deloitte as one of the fastest 500 growing technology companies in North America.

About MFG.com

MFG.com is the Internet based platform upon which the global manufacturing industry conducts business. MFG.com's open platform enables companies of all sizes from around the globe to intelligently connect, source, collaborate and perform due diligence with transparency and intellectual property protection. The MFG.com platform supports virtually all manufacturing process and industrial components, is in 10 languages, 12 currencies and has over 100,000 users on five continents. MFG.com has offices in North America, Europe and Asia. For more information about MFG.com, please visit, www.MFG.com.

###
______________________________
MFG.com is a trademark of MFG.com, Inc. All other brand and product names are trademarks or registered trademarks of their respective owners.

Press Contact: Belinda Jones, HiTech Marketing, 860-399-1147, Email Contact
Marketing Contact: Lindsay Bradshaw, MFG.com, 678-556-2973, Email Contact


Read the complete story ...


Review Article Be the first to review this article
Rand3D

SolidCAM: Cutting Webinar

Featured Video
Jobs
Mechanical Engineer I for Air Techniques, Inc at Melville, NY
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
The Rise of Mechatronics at Dassault Systèmes Santa Clara 3979 Freedom Circle, Ste 750 Santa Clara CA - Sep 14, 2017
The 30th Annual Integrated Process Excellence Symposium & Training at Wyndham Grand Bonnet Creek Resort Orlando FL - Sep 18 - 20, 2017
Kenesto: 30 day trial



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise