2004-09-30 - Atlanta, GA, USA: MfgQuote has announced the launch of MfgQuote Version 5, a new version of the online marketplace that connects buyers, procurement professionals, engineers, entrepreneurs, and inventors with qualified suppliers of custom manufacturing services. The latest release boasts a feature list of over 100+ enhancements including customer-driven functionality, user interface improvements, and the latest web technologies. MfgQuote's web-based applications provide an online marketplace utilized by over 31,000 purchasing professionals and 1,100 suppliers of made-to-order parts and equipment.
Sourcing for suppliers via conventional means of snail mail and mile-high paper engineering drawings is time-consuming and riddled with inefficiency. MfgQuote V5 removes the productivity bottleneck with a comprehensive, on-demand service to find qualified suppliers with the “right stuff” - the right capacity, the right capabilities, and the right equipment. MfgQuote enables the purchasing professional to securely distribute RFQs (request for quotes) and technical information, perform due diligence, and manage the entire sourcing process from the comfort of their desktop. This high-tech approach translates into highly efficient sourcing practices, centralised RFQ management, and confident, informed purchasing decisions.
“We have blazed new sourcing trails with MfgQuote V5,” states Mitch Free, CEO of MfgQuote. “By adding and refining sourcing features over the past four years, MfgQuote has evolved into a world-class service for procuring custom manufacturing services on the Internet. Purchasing professionals will find an ultra-streamlined interface for RFQ creation, distribution, and collaboration. We have paid extraordinary attention to the core needs and requests of our Buyer user base. When it comes to product development, we aim high with every new release. MfgQuote V5 is setting new industry standards in automation and sourcing efficiency for the buyer of manufactured-to-order parts.”
MfgQuote Version 5 ushers in a plethora of new enhancements starting with the development of a new RFQ Creation Wizard that guides Buyers through a logical process to collect technical, logistical, and distribution information. To ensure highly accurate matches to the optimum number of suppliers, several new options have been added to the wizard to add more qualification detail to RFQs. At anytime during the RFQ creation process, RFQs-in-progress can be saved in a draft status until they are ready to complete and submit for supplier quoting.
Additional RFQ distribution options allow buyers to securely distribute RFQs to:
suppliers with the right expertise and capacity automatically matched by the system
suppliers on a preferred supplier list created by the buyer
out-of-network suppliers that may not be MfgQuote members; or
any combination of the above newly integrated features.
Buyer members will also notice a new format for RFQs and quotes that resembles traditional hard-copy RFQs and quotes. Print friendly versions are also provided.
Exchanging design and engineering data between buyers and suppliers is made easier with MfgQuote V5. MfgQuote offers both eDrawings(TM) (Solidworks Corp., Concord, MA) and thumbnail previews as part of their Sourcing system. eDrawings adds a new level of ease and security for the Buyer. CAD files that are attached to RFQs are automatically converted to the neutral eDrawings format, thus protecting the native CAD data. Potential suppliers can view and investigate the data quickly without the need for CAD software. Thumbnail images of CAD file attachments are also generated automatically to give the buyer and potential suppliers a visual confirmation of the part(s) being sourced.
One of the most popular features is the MfgQuote Rating System (similar to eBay’s Feedback Rating system) for evaluating and rating business transactions. Buyers who have conducted business with MfgQuote Suppliers can appraise the supplier in regards to the quality of their work, responsiveness in communication, and on-time delivery. The rating system has been upgraded with additional rating parameters and a new “look and feel.” MfgQuote Buyers have come to rely on the proprietary MfgQuote rating system as an influencing factor when performing due diligence on potential suppliers.
Buyers also have access to Supplier profiles for due-diligence purposes. Each MfgQuote Supplier has an online company profile describing their services, capacity, and unique selling proposition. In the new release of MfgQuote, Supplier profiles have been enhanced to provide even more information via digital video, audio, images, brochures, and links to external resources. The Supplier profile now presents greater detail on any special business status a supplier may possess, such as small, disadvantaged, or minority business status. Quality certifications, such as ISO, may now be attached to the Profile. Additionally, a Profile can be emailed to colleagues. Buyers can also request a quote from a specific contract manufacturer with a simple button click from their Supplier Profile.
MfgQuote V5 has also spruced up its robust Supplier Management system with new tools and reports. Buyers can now manage multiple preferred supplier lists, and invite/manage out-of-network suppliers to participate in online RFQs. Buyers can discover new suppliers using the MfgQuote rich-attribute search technology, analyze the performance of their suppliers, and also generate spend visibility and spend allocation reports. The system also includes expanded support and additional parameters for exporting single or multiple RFQs to Microsoft Excel for customised comparative analysis.
While MfgQuote’s overall sourcing and quoting process continues to be streamlined, the MfgQuote development team has also been at work to integrate leading edge web technologies and programming methodologies to the system. MfgQuote V5 is now over ten times faster than previous versions, and is infinitely scalable for future enhancements. Unlike software applications, MfgQuote does not require special hardware or IT support. This ASP web service can be used by any MfgQuote member with an Internet connection. MfgQuote.com is a no-commission, non-auction industrial sourcing service. Qualified buyers and engineers register online at http://www.mfgquote.com/ to use the service for free. Suppliers pay a flat annual service fee or may opt for a monthly payment plan. MfgQuote customer service is available at no charge to all members.
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