TRADEC releases new online procurement tool

By Staff -- Purchasing, 5/18/2000

Tradec.com, a supply chain hub for electronics buyers, has announced a new on-line procurement tool for buying production materials.

PurchasingPro 5.0 accelerates workflow, reduces costs and can be easily configurable to a company's needs, according to John Abe president and CEO of tradec.

It is a Web-based application for the component buyer that enables formatting, consolidation, distribution and tracking of request for quotes (RFQs) to component sellers. When quotations are returned over the tradec System, PurchasingPro translates them from the seller's format into the buyer's format, identifies exceptions and provides the buyer with analytical tools to aid in decision-making. With the current version, customers have seen a reduction of internal process costs of more than 60% and overall quote turnaround reduced by more than 30%.

"PurchasingPro 5.0 gives buyers the ability to consolidate demand across a global organization," says John Abe, president and CEO of tradec.com. "Combine that with global pricing visibility, analytical tools and data mining capabilities, and the tradec.com System is the total solution for direct material procurement over the Internet," he says. Abe says new features in Purchasing Pro 5.0 are based on buyer input.