Parametric Technology Corporation Announces Strategic Alliance with SupplierMarket.com Enabling PTC Customers to Leverage the Internet to Shorten the Procurement Process
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 21, 1999--Parametric Technology Corporation (PTC) (NASDAQ:PMTC) today announced an alliance with SupplierMarket.com, a leading online marketplace for built-to-order manufactured parts. As a result of this agreement, users of PTC's Windchill enterprise product and process lifecycle solution will be able to directly access the SupplierMarket.com RFQ Builder (request for quote) and online marketplace, enabling competitive Internet-enabled bidding and optimal sourcing of built-to-order parts across the extended supply chain.
Users of the SupplierMarket.com marketplace source and sell built-to-order products such as fasteners, metal stampings and screws. The SupplierMarket.com Internet marketplace improves the purchasing and procurement processes for manufactured products, delivering benefits to both buyers and suppliers.
"By using the SupplierMarket.com marketplace, our customers will be able to significantly reduce their cycle times and procurement costs," said Jim Baum, PTC executive vice president, engineering, research and development. "This alliance strengthens our ability to deliver value to our customers via the Internet. By linking engineering designs developed in Windchill directly to the SupplierMarket.com marketplace, customers will be able to establish opportunistic supplier relationships that improve profitability."
"This agreement gives Windchill users increased opportunity to save time and money in procuring built-to-order parts," said Asif Satchu, SupplierMarket.com co-founder and president. "Our alliance with a leading-edge technology supplier such as PTC is key to maintaining our position as a leading online marketplace." |
