ComponentBid, LLC: Helping small companies practice competitive sourcing Buyers with large companies have always had a significant advantage with strategic sourcing. They have large sourcing teams that can find new suppliers. Because of their size, they can exert powerful supplier leverage and obtain the best price for the components they use. This process leaves a great deal of companies behind. Buyers with smaller companies do not have the ability to find multiple new suppliers, and if they do find them then the chances are they won’t be able to obtain competitive quotes. Smaller suppliers, in addition, don’t have the advertising and travel budgets that will allow them to visit new companies and they miss out on opportunities. ComponentBid.com, a new website, has been developed to address this gap. Buyers of any company can sign up for ComponentBid.com and post their parts into a web-based database. Suppliers will browse through the database, find parts that they want to supply, and enter a competitive ballpark quote. Every company has the same opportunity. This is the global sourcing process of the 21st century. ComponentBid.com is a simple, easy to use tool that will allow buyers to save money and suppliers to find new opportunities. The site has been set up as a virtual supplier blitz. It will mimic online the process of bringing suppliers into a manufacturing plant to view parts, but with the advantage of being a 365 day a year process that has no travel costs. Because we know that not all companies will want to work with unknown suppliers, components can also be posted to be visible to a company’s â€preferred supplier†list only. As a buyer, therefore, you can ask the suppliers that you normally work with to sign up for the service free of charge, add them to this list, and then use it to augment your own internal sourcing process. Currently the site is scheduled to be released in a beta phase during the week of October 12th, 2009. At this time, all memberships are completely free. In exchange, we’re only looking for user feedback. After the beta phase is over, ComponentBid.com will charge a small monthly fee for buyers to maintain listings. Suppliers will not pay anything. All company information is protected and the site will allow buyers to post components without revealing their company identities. Any sensitive information such as current purchasing price and usage estimates can be excluded. ComponentBid.com also has a strict anti-spam policy. We will never mine data for advertising or sell your information to a third party. We take privacy and integrity very seriously. For more information on Com ponentBid.com, please send an e-mail to mailto:milhan@componentbid.com
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