ThomasNet, an online source of information about industrial products and services for corporate, government, military and other types of purchasers, has expanded its suite of ThomasNet Purchasing Tools. Hosted online, the service is available to the 3 million monthly users of ThomasNet.com, which provides information on more than 607,000 suppliers of parts, products and services. The expanded suite includes several new tools. RFP Manager enables buyers to create and manage requests for proposals (RFPs) and reverse auctions in a streamlined manner. It has been updated with a new Preferred Supplier feature. According to ThomasNet, it speeds up the process of finding qualified suppliers, while increasing the quantity and diversity of responses from potential vendors. Buyers can check off the names of suppliers that they want to invite. Contract Manager is a new tool, which helps buyers to monitor contract renewals and avoid late penalties. The feature allows them securely to store, track and retrieve vendor agreements. Purchasers Lounge is an online forum for purchasing professionals to ask questions and share information. The purchasing tools are hosted online, without the need for licensing or the installation of additional software.
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