MFG.com helps biotech company save $200,000 annually
with an automated, intelligent and cost-free sourcing solution
Formulatrix saves $20,000 per month and shaves two months off product delivery cycle
ATLANTA, March 13, 2006 – Formulatrix, a leading provider of drug discovery technology, delivered a sophisticated new robotic imaging product from concept to customer in just 90 days, crediting MFG.com with shaving two months off the delivery cycle. MFG.com, an online marketplace for servicing the manufacturing community, helped Formulatrix save more than $20,000 per month and establish 20 new cost-effective supplier relationships during the project.
"Using MFG.com isn't just about saving time and money," said Jorge Barrera, who led the engineering project. "It's about transforming the entire sourcing process in a much more efficient and flexible way. By foregoing phone calls, faxes, e-mails, expensive hand deliveries or even licensed sourcing software, we were able to concentrate on R&D and move the product from concept to customer in an unheard-of three months.""
The 400-part Formulatrix Rock Imager 54 is an automated system for storage and imaging of protein crystallization experiments. Using a six-axis robotic system and specialized optics, the RI 54 continuously collects ultra-high quality images of protein crystals for analysis and documentation through their life cycle.
MFG.com enabled Formulatrix to find suppliers from a global pool of thousands, not just the handful of local suppliers the company already knew. And because of MFG.com's rapid sourcing cycles, Formulatrix could conduct a full-fledged prototyping operation without an in-house machine shop, according to Barrera. Sourcing a part takes less than four weeks with MFG.com versus 12 weeks the traditional way - which was an important difference as Formulatrix issued 60 requests for quotes (RFQs) to complete the RI 54. Formulatrix saved additional time and money by integrating MFG.com with its existing PLM software by simply embedding Web links to MFG.com RFQs in the Arena PLM software files.
"Formulatrix is a stellar example of a company that innovates in operations as much as in its products," said Mitch Free, president and CEO of MFG.com. "This approach compounds the company's competitive advantage, and its documented results speak for themselves."
Formulatrix is one of more than 45,000 buyers across the industrial spectrum (aerospace, transportation, consumer products, electronics and more) that use MFG.com to source, collaborate, and receive quotes online for custom-manufactured parts. More than 45,000 suppliers provide more than 200 manufacturing processes - such as CNC machining, metal stamping, forging, plastic molding, metal fabrication and metal casting - through the marketplace.
About Formulatrix
Formulatrix specializes in providing technology that automates the protein crystallization process, a key part of structure based drug discovery. Formulatrix has established itself as one of the leading players in this field with customers worldwide including leading pharmaceuticals, biotechnology, and academic institutions. For further information, please visit www.formulatrix.com
About MFG.com
MFG.com is the largest global online marketplace for the manufacturing industry. MFG.com instantly and intelligently matches sourcing professionals and engineers with suppliers who have the right expertise and capacity to manufacture parts and tooling on demand in accordance with their engineering drawings and CAD files. MFG.com's on-demand service is consolidating the once- fragmented world of manufacturing into an efficient marketplace, enabling products to be sourced and built more easily, quickly, inexpensively, and at higher quality levels. For more information, please visit http://www.MFG.com.
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