A Successful Business Outcome for Our Customer
A well-known, global automotive OEM recently implemented TRUsource™, Trubiquity’s on-demand RFQ solution, to automate requests for quotes for the company’s global supplier network onto a centralized, electronic platform, reducing both time and effort required for the procurement process and significantly improving buyer productivity.
TRUsource is a hosted solution, which means fast implementation and global accessibility for all RFQ participants without special hardware or software requirements, all at a low total cost of ownership. The automotive OEM would implement TRUsource at no cost to the supplier base, and the intuitive user interface lowers barriers to adoption and makes it easy for suppliers to provide RFQ information, with reporting and tracking available for the entire supply chain.
How We Worked with Our Customer to Achieve this Result
We Can Do This for You
Trubiquity has helped the company save time due to RFQ’s being distributed electronically as well as helping them reduce their costs and eliminate the potential for lost documentation or data entry errors through automation rules and the elimination of manual processes. This new
procurement system is also easily accessible in all markets, particularly low-cost developing markets like China and India.
The company also now enjoys a deeper level of traceability and visibility, specifically, the ability to confirm that suppliers have received and downloaded the appropriate data. Large engineering files can now also accompany the RFQ information and the company can also communicate with their suppliers directly through the electronic tool to keep track of the procurement process.
Challenges Encountered & Overcome
At the onset, the company was managing its pre-sourced procurement processes manually. This entailed the time and cost associated with assembling requests for quotes, printing the requests on paper, burning the associated documentation onto multiple CDs and paying at least $30 to ship each request for quote to up to 20,000 potential suppliers.
In addition to saving time and increasing visibility for buyers and RFQ administrators, TRUsource delivered a global on-demand, easy-to-use solution for suppliers to retrieve RFQs, manage large files securely and upload quotes efficiently. Having the entire procurement process centralized and automated with TRUsource has also helped the company to comply with internal audit requirements. The company is now engaging more than 5,000 suppliers around the world through TRUsource.
Here’s Proof of the Success
TRUsource enabled the major automotive OEM to streamline its RFQ process and improve buyer productivity by replacing an outdated, manual process with an automated procurement platform. In this case, TRUsource helped the OEM to reduce procurement costs by more than 25% and improved lead times from several days to just a few hours.