Alliance provides customers with comprehensive
e-procurement/e-supply chain solutions
PITTSBURGH and OTTAWA, May 16 /PRNewswire/ --
FreeMarkets, Inc. (Nasdaq: FMKT), the original and world's leading B2B
eMarketplace, and webPLAN, Inc., the only e-Business platform for
high-velocity supply chains, today announced that they have formed a strategic
alliance to deliver web-based B2B eMarketplace and supply chain management
solutions to customers. Under the terms of the agreement, FreeMarkets and
webPLAN will combine their offerings to provide purchasing professionals with
a single-point solution for conducting online auctions and managing their
supply chain.
Through the alliance, customers using the FreeMarkets(R) B2B eMarketplace
will be able to use the webPLAN CeO(TM) e-Business solution to integrate
supply chain management (SCM), customer relationship management (CRM) and
product lifecycle management (PLM) with existing manufacturing systems and
processes. Customers can be notified of the need to purchase additional
items, which can be bid out using the FreeMarkets B2B eMarketplace. Further,
suppliers registered in FreeMarkets' global database can optimize processes
and costs associated with delivery and pricing of finished goods.
The FreeMarkets B2B eMarketplace provides procurement professionals with
access to industry-leading BidWare(R) auction technology, technical
operations, market making services and a global database of over
4,000 suppliers. More than $5 billion worth of purchase orders have been bid
through FreeMarkets to date, resulting in over $1 billion in potential savings
to Global 1000 buyers.
webPLAN's Collaborative eSupply-Chain Optimization (webPLAN CeO) solution
integrates supply chain management, customer relationship management and
product lifecycle management with existing manufacturing systems and processes
and gives manufactures, suppliers and customers the ability to collaborate and
transact business in real-time. webPLAN's end-to-end e-business solution adds
velocity to the manufacturing process, shortens time-to-market and provides
self-service capabilities for customers and suppliers.
"By aligning with webPLAN, we are adding a best-of-breed supply chain
management tool to our suite of eMarketplace offerings," said Scott Grimes,
vice president of business development of FreeMarkets. "This tool will
benefit customers by providing them with a single-point solution which, in
addition to our online auction technology and market making services, can help
them make better decisions and lower costs in procurement while increasing
velocity through their supply chains."
"Our partnership with FreeMarkets will enable webPLAN to engage customers
with leading-edge e-procurement approaches that can have a rapid impact on
their business," said Darryl Praill, vice president of marketing, webPLAN.
"FreeMarkets' unique e-procurement solution combined with the webPLAN CeO
solution will add another gear to the already rapid e-business paradigm we
offer our customers, and revolutionize the way global business transpires."
About webPLAN
webPLAN's solution to the e-Business imperative is webPLAN CeO(TM).
webPLAN CeO integrates supply chain management, product lifecycle management,
customer relationship management and strategic and enterprise planning, with
tactical execution systems and processes. webPLAN CeO is a strategy and
solution-set for increasing shareholder value with an e-Business model that
amalgamates self-service, visibility, collaboration and optimization with a
web-intrinsic architecture. webPLAN solutions have been adopted across
multiple tiers by visionary companies such as SCI Systems, Honeywell, Lucent
Technologies, Epson, Black & Decker, SMTC Manufacturing Corp, Teradyne and
John Deere. They have been endorsed by industry analysts, chronicled in
national case studies and studied by academia. A global community of over
8,000 users now employs webPLAN as their e-Business and supply chain solution.
webPLAN Inc. is a privately held company with corporate offices in Chicago,
Illinois and Ottawa, Canada. webPLAN is a registered trademark of webPLAN
Inc. For more information on the company, it services and its products visit
http://www.webplan.com .
About FreeMarkets
FreeMarkets is the original and world's leading B2B eMarketplace, with
online markets for industrial parts, raw materials, commodities and services.
The Company has executed online auctions for over $5.4 billion of purchase
orders to date, and created potential estimated savings of more than
$1 billion for its customers. Since 1995, FreeMarkets has created online
auctions for products in more than 100 supply verticals, including injection
molded plastic parts, commercial machinings, metal fabrications, chemicals,
printed circuit boards, corrugated packaging and coal. More than
4,000 suppliers from over 50 countries have participated in the FreeMarkets
B2B eMarketplace. FreeMarkets is the only B2B eMarketplace that includes
industry-leading online auction technology, technical operations, industrial
market making services, access to a global database of suppliers and supplier
research, call center support to buyers and suppliers in over 30 languages,
and marketplace rules. The Company's current customers include Visteon
Corporation, United Technologies Corporation, The Quaker Oats Company, Owens
Corning, Eaton Corporation, Emerson Electric Company, FirstEnergy Corp.,
SmithKline Beecham plc, Navistar International and Delphi Automotive Systems
Corporation. FreeMarkets can be found on the Web at http://www.freemarkets.com .
FreeMarkets is a registered trademark of FreeMarkets, Inc.
Forward-looking statements
Statements in this press release that are not historical facts, including
those statements that refer to FreeMarkets' plans, prospects, expectations,
strategies, intentions, hopes and beliefs, are forward-looking statements.
These forward-looking statements are based on information available to
FreeMarkets today, and FreeMarkets assumes no obligation to update these
statements as circumstances change. There are risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements, including, without limitation, market acceptance of FreeMarkets'
B2B eMarketplace, the competitive nature of the market for
business-to-business online auction services, FreeMarkets' ability to retain
and increase revenue from existing customers and to attract new customers,
FreeMarkets' ability to attract and retain qualified personnel, the size of
the market for used equipment and surplus inventory, the demand for online
auction and other asset recovery services by buyers and suppliers, and
FreeMarkets' ability to integrate acquisitions. Risk factors are described in
more detail in FreeMarkets' filings with the Securities and Exchange
Commission.
Company and product names are registered trademarks of their respective
companies. Collaborative Planning is a registered trademark of webPLAN.
Contacts: Karen Kovatch
Senior Manager, Corporate Communications
FreeMarkets
(412) 297-8767
kkovatch@freemarkets.com
Randy Burgess
Manager, Marketing Communications
webPLAN Inc.
Tel: (613) 592-5780 x235
rburgess@webplan.com
SOURCE FreeMarkets, Inc.
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Related links:
http://www.freemarkets.com
CONTACT:
Karen Kovatch, Senior Manager, Corporate
Communications of FreeMarkets, 412-297-8767, or
kkovatch@freemarkets.com; or Randy Burgess, Manager, Marketing
Communications of webPLAN Inc., 613-592-5780, ext. 235, or
rburgess@webplan.com
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