BWI: MFG.com to Empower SME Manufacturing Sector with Various Innovative Products

Press release from Business Wire India
Source: MFG.com
Wednesday, August 25, 2010 02:50 PM IST (09:20 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology, Retailers; Technology
--------------------------------------------------
MFG.com to Empower SME Manufacturing Sector with Various Innovative Products


Bangalore, Karnataka, India, Wednesday, August 25, 2010 -- (Business Wire India) -- . Indian manufacturers and suppliers seeking competitive advantages in World's largest industry can connect and conduct business even more efficiently

. Offers a faster, easier, more efficient and cost effective model to source products compared to customer discovery initiatives and trade shows

MFG.com, the largest global sourcing marketplace for manufacturers seeking custom parts, standard components and assemblies announced an innovative Entry Level product for the Indian market. The sourcing marketplace offers a faster, easier, more efficient and cost effective means to source products compared to trade shows and other customer discovery initiatives.

MFG.com already has a sizeable customer base in India with around 40,000 customers who have registered for free membership accounts. The platform operates on a subscription based model with suppliers paying an annual subscription fee of US$2,500 to $20,000 per annum. The new product will allow members to access key features of MFG.com from RFQ creation to supplier selection and the final payment transaction at a nominal price.

Mitch Free, CEO and Founder of MFG.com said, "The new MFG.com marketplace ushers in globally integrated features that help drive efficiencies at all levels of the online sourcing process, from RFQ (request for quote) creation and manufacturer-supplier collaboration to supplier selection. Indian manufacturers and suppliers seeking competitive advantages in World's largest industry can now connect and conduct business even more efficiently.

According to the Investment Commission of India, the Indian manufacturing sector is estimated to have a US$ 180-billion investment opportunity over the next five years. Exports of auto components are estimated to reach US$ 22 billion by 2015-16. In addition, Indian textile and apparel exports are expected to register a four-fold increase to touch US$ 100 billion in the next 25 years.

Mitch added, "The growth trajectory in key manufacturing sectors is an indication of the future potential of Indian business. India with all the requisite skills in product, process and quality is closely competing with other manufacturing hubs like China or Taiwan, is fast emerging as a global manufacturing hub."

Sanjay Shah, Managing Director, MFG.com India said, "The manufacturing sector is growing at over 17% year on year and exports will touch US$ 300 billion by 2015. The domestic market is itself around US$ 100 billion. More and more Indian SME's are looking to take their products global and spend huge amount on traveling to trade shows or customer discovery initiatives. Our platform helps both the buyers and suppliers witness the prevailing trends of demand and supply in their relevant sectors on a daily basis and rapidly grow their business both domestically as well as globally from the comfort of their offices."

MFG.com aims to transform the world of manufacturing sourcing into a single, on-demand service, enabling products to be sourced and built more easily, quickly, and at higher levels of quality and profitability. MFG.com provides an intelligent platform to connect manufacturers and suppliers with the right expertise, capacity and credentials at the right time thereby driving efficiencies at all levels of the online sourcing process.

Features and benefits include:

. Customer discovery, through various means of finding qualified suppliers and buyers including identifying one's with certified/quality credentials
. Support of widely spoken languages, specifically English, Chinese, Spanish, German, French, Italian and Portuguese;
. Multi-currency support, more than 50 including the U.S. dollar, Euro, British pound, Chinese RMB, Japanese yen, Indian rupee, Brazilian real and Russian ruble;
. Multi-line item RFQs, which allow items from the same manufacturing category to be grouped into a single RFQ and enable the receipt of seamless quotes;
. Parts and styles libraries for buyers to manage all their parts or styles in a central location, build a parts or styles database and create groups of either with flexible hierarchies including an existing bill-of-materials structure;
. Order monitoring via a personalized project-tracking dashboard;
. Messaging enhancements, such as the capability to collect all messages in one secure location, independent of the message source.

About MFG.com

MFG.com is the largest global sourcing marketplace for the manufacturing industry. MFG.com's platform enables companies to intelligently connect, source, collaborate and perform due diligence with transparency and intellectual property protection. It supports virtually all manufacturing process and industrial components -- as well as custom apparel and textiles -- is in seven major languages, more than 50 currencies and has more than 400,000 members on five continents. MFG.com is based in Atlanta and has offices in Shanghai, Geneva, Paris, Munich and Bangalore.

For more information, visit www.MFG.com


CONTACT DETAILS
Ms. Mona Rathod, MFG.com, Bangalore, +91 (80) 42415600, mrathod@mfg.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, IT, RETAIL, TECHNOLOGY

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com