Compiled By Jill Jusko In launching its FreeMarkets ES supply-chain-management solution, FreeMarkets Inc. says it has created the infrastructure companies require to excel in their supply-management endeavors. The flexible solution incorporate several modules including:
- Requirements management: Functionality includes requirements templates, drawing vaults to store engineering documents and the ability to link requirements to approved vendor records.
- Supplier relationship management: Includes supplier activity tracking, capability profile templates and supplier self-registration.
- Sourcing management: Functionality includes real-time competitive bidding and RFx management for requests for information, proposals or quotes.
- Decision management: Functionality includes scenario and what-if analysis and cost-breakdown analysis.
- Contract management: Includes contract expiration alerts and contract library to create category-driven repositories of information on pricing, terms and conditions, expiration date and organizational contracts.