Solution: This manufacturer established a global initiative to collect the specifications, timing, and volume requirements for fasteners across all divisions. They leveraged Directworks' cloud-based sourcing and supplier management solution to gather requirements, distribute the RFQ, analyze supplier quotes, and award the business.
Results: In one sourcing event, this global manufacturer identified $56.5M in savings. These savings were driven by the ability to execute five rounds of quoting in the time it historically took to do one. Finally, they rationalized their supply base to one primary, and several backup, suppliers. By automating the sourcing process, Directworks freed them from data transcription and rework, enabling focus on more strategic activities that generate results.
About the Solution Provider: Directworks provides cloud-based software solutions purpose-built for manufacturers to improve supplier collaboration, total cost visibility, and the efficiency of sourcing and supplier management activities. Leading manufacturers use Directworks to accelerate product launches, expand margins, and optimize their direct materials supply chain for cost, performance, and risk.