I'm guessing materials managers and engineers are getting heat from their bosses to keep costs down, and that includes the price they are paying for components.
The good news is that I hear via the excellent Woodstock Wire (www.woodstockwire.com) that PartMiner is rolling out its PowerBuyer electronic component procurement system to four European countries as well as Israel and Singapore.
The system provides information on pricing and available inventories from thousands of distribution sources around the world. Buyers will be able to compare current pricing to market prices to negotiate a better deal or select a more favourable supply source.
"Everyone needs to save money, especially in the current economic environment," said Chris Meyer, chief executive officer of PartMiner Worldwide. "PartMiner has demonstrated savings of 20 per cent and more to over 100 companies via our new quoting product."
It works by collecting market intelligence from virtually every meaningful source around the globe - representing millions of component transactions and hundreds of millions of lines of active inventory.
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