Mike Franz, CEO of ManufacturingPower, advocated that small and mid-sized manufacturers need to start basing critical decisions on costs and competitors’ pricing; read the recent issue Automation.com. Only when manufacturers stop using inadequate spreadsheets can the purchasing department succeed. For better or worse, purchasing professionals are rewarded for capturing the lowest price; few have the time to scour the internet for ever RFQ to see if the bid offered is indeed competitive. Measuring value with price experiments is not realistic.
ManufacturingPower, for example, collects competitive prices from sites and marketplaces like Amazon, Google Shopping, Grainger, and eBay in real-time.
Franz shared, “Automated access to summary cost and margin information for each SKU delivers light SaaS “MRO/tail-spend” price transparency, returning a minimum 11-14% COGS (cost of goods sold) reduction to the bottom line.”
By automating this process, scraping must be tailored to provide the critical analysis and manual adjustments required. Automated solutions introduce a scientific technology combining big data and cloud technology to set price points for even the smallest manufacturers.
Automation.com is the leading online publisher of automation-related content. The publication helps readers automate factories and processes, solve problems, and improve production efficiencies by providing the most current industry news, information, and resources.
ManufacturingPower is a cloud-based market intelligence solution designed to help small to mid-sized manufacturers streamline purchasing operations. This technology allows customers to achieve real-time visibility into industrial supply spend, better collaborate with suppliers, mitigate risk, and realize significant cost savings with the use of market transparency data. ManufacturingPower is a new-to-market SaaS technology with tools to simplify the industrial supply challenges facing all manufacturers.
Through cloud database management and unique algorithms, big data allows easy access to business intelligence. Until 2020, supply chain technology was far too expensive for the smaller manufacturer. ManufacturingPower offers a low-cost ($5000 annually) solution which provides even the smallest manufacturer the ability to compare competitive pricing driving immediate savings and equally rapid ROI (return-on-investment). ManufacturingPower demonstrates that knowledge is power and transparent market intelligence data to become leaner and far more efficient.
Company Name: ManufacturingPower
Contact Person: Mike Franz, Founder & CEO
Email: Send Email
Address:101 5th St. E. Ste. 150 Box 3872
City: St. Paul
Country: United States