TR Cutler, manufacturing journalist recently reported on a new low-cost provider geared toward the small and mid-sized manufacturer in IoTNow magazine. ManufacturingPower is a new-to-market SaaS technology with tools to simplify the industrial supply challenges facing small and mid-sized manufacturers. Read the IoTGlobalNetwork article here.
According to Cutler, the lack of pricing comparison and routinized purchasing from distributors and vendors are the proximate causes of lost margin. Without big data clarity there is no way to know if the price paid is fair or competitive. Cutler discussed how IIoT (Industrial Internet of Things) is misunderstood by most small and mid-sized manufacturers.
When cost recovery can be demonstrated in a 30 day period, the ROI value proposition is a no-brainer. Some months the saving will be more, some less. The ability to KNOW what others are paying for the same SKUs is essential; these data inform even the smallest manufacturer whether money is being left on the table or if a fair price is being paid.
IoTGlobalNetwork is the leading global magazine and online news source covering machine-to-machine communications in a whole host of industry verticals.
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.
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.
ManufacturingPower is a proud member of Manufacturing Alliance, MPMA (Minnesota Precision Manufacturing Association) ISM (Institute for Supply Management), APICS (Twin City Chapter) and the Council of Supply Chain Management Professionals (CSCMP).
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