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Engineering Business News and Views
News Release from: Qimtek
Edited by the Engineeringtalk Editorial
Team on 18 September 2001
What manufacturing buyers really want
First Index research shows that e-procurment, automated RFQs, and Supplier Relationship Management are key drivers of online strategy for manufacturing buyers
Research among manufacturers conducted by First Index shows that buyers see e-sourcing, the ability to automate RFQs (request for quotes) and supplier relationship management (SRM) as key drivers of their online strategy The research - among 180 buyers already posting RFQs in First Index's FindFast e- marketplace - was conducted as part of the development of a suite of web-based software aimed at the contract manufacturing market
This article was originally published on Engineeringtalk on 28 Sep 2004 at 8.00am (UK)
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The research and the product will debut at the Manufacturing Week exhibition at the NEC in Birmingham on 30th October.
Early results from the survey highlight four clear buyer requirements: To pool buyer experience across large buying organisations via an organised, easy to use supplier database.
To automate the RFQ process for existing and new parts combined with a way to facilitate online collaboration with suppliers throughout the RFQ process.
To use online means to build long-term relationships with preferred suppliers that shortens product development lifecycles.
To be able to evaluate supplier performance and ensure value for money in sourcing.
The research was conducted as part of the process of developing a new product, FindFast Pro, a web-based suite of e-sourcing, RFQ automation and supplier relationship management (SRM) tools, that will be launched at the show.
The suite is aimed at buyers who purchase made-to-order direct materials in, among others, the global automotive, aerospace and defence and electronics sectors.
It complements First Index's established FindFast e-marketplace solution which has over 2000 supplier members that benefited from the 28,000 RFQs posted in the last year.
First Index's CEO Hans Wigart, and David Oliver, will be speaking at Computers in Manufacturing (CIM), which is co-located (in halls 6 and 7 at the NEC) with Manufacturing Week.
Entitled 'E-procurement for buyers of direct services and custom manufactured parts' the seminar will take place on Thursday November 1, at 9.30am highlighting how working online can streamline relationships between buyers and sellers in the contract manufacturing sector.
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