CLEVELAND, April 5, 2011 -- Job shops and OEMs in Northeast Ohio and throughout the "Rust Belt" will soon have access to a software system that helps them forge trusted partnerships and grow their businesses, thanks to a recent launch by The Manufacturing Mart of Cleveland.
Tentatively called The Trade Marketplace, this patent-pending software was recently revealed in beta form to a group of Cleveland-area job shop owners, who said they would welcome a convenient, time-efficient means to quote new business, especially one that spotlights their core competencies, reduces the expense of processing an RFQ or an RFP and increases the opportunity to win new business.
And that's exactly what The Trade Marketplace does. The software stores a job shop's core competencies, based on information the business inputs. When an OEM has a job to source, for example, an RFP for machine parts or an RFQ for metal parts, the purchaser identifies and stores its quality standards for the part and the job shop specifications into the system. Matching logic identifies the warranted capabilities of qualified job shops and then automates quotes from the shops. These quotes can be customized before submission for an RFP or RFQ.
The software creates a win-win situation for OEMs and job shops, according to Mary Kaye Denning, founder and president of The Manufacturing Mart. "The software combs through the proposals and delivers the highest-ranking results meeting the purchaser's manufacturing standards," Denning explains. "OEMs will spend less time identifying potential suppliers for RFPs or RFQs of machine parts and reduce expenses associated with qualifying the manufacturer.
"Job shops can confidently accept work from unknown purchasers," Denning continues. "The software reduces the expense of quoting and increases the opportunity to win new business."
And because the software identifies the core competencies of individual job shops, less time is spent chasing no-win deals. "This means a higher likelihood of success for the job shop with an even playing field and less risk for the OEM," Denning says.
Most job shop owners prefer to spend time creating quality products and don't want to be bogged down responding to RFQs or RFPs for steel or metal parts or machine parts. And even once an order is placed, miscommunication occurs when specs are changed without notification. The Trade Marketplace software accounts for these challenges, allowing job shops to bid only on the projects for which it is most qualified with up-to-date knowledge of any changes made by OEMs.
The Trade Marketplace software will be subscription-based with transactional fees, according to Denning, and will likely be officially launched in late 2011. Presently, The Manufacturing Mart is signing up 20 "Charter OEMs" that will benefit from discounted transactional fees and will be influential for future updates.
About The Manufacturing Mart: Opened in 2010, The Manufacturing Mart is a marketplace where manufacturers can display their talents, show off inventions and trade their know-how. The Manufacturing Mart offers marketing, business planning, public relations and website building services, and provides personalized consultations to assist job shops in growing their businesses regionally, nationally and globally. The Mart is located on the first floor of The Galleria at Erieview in Downtown Cleveland. www.themanufacturingmart.com
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