Online manufacturing marketplace MFG.com implemented a buyer reputation scorecard, a new profile feature that allows suppliers to view a buyer’s tendency to award jobs before responding to a request for quotation, or RFQ.
The scorecard, which will be made available to all paid suppliers on MFG.com, starting in January, will show the buyer’s percentage of awards, compared with the number of RFQs uploaded onto the platform.
Concurrent with implementing the measurement system, MFG.com said it is encouraging buyers to respond to unsuccessful bidders with feedback on the rationale behind their award decisions.
Suppliers using the MFG.com platform are not guaranteed that all posted RFQs will be awarded. However, by encouraging buyers to award jobs to appropriate suppliers and, in the case of declined quotes, to provide an explanation as to why a quote was rejected, MFG said it is working to ensure that suppliers gain insight on how to offer better quotes in the future.
Likewise, MFG said it anticipates that the award scorecard will enable suppliers to be more selective in the RFQs to which they respond, saving them time, money and resources.
“MFG.com is continually working to improve our user experience and ensure our suppliers have the best possible chance at being awarded projects. Creating a proposal is both time-consuming and expensive,” MFG.com CEO Bo Hagler said in a statement.
“However, receiving feedback from buyers will add value to the process even if the bid is unsuccessful because the explanation will allow for better decision-making going forward. Our buyer reputation scorecard also will allow suppliers to make more informed decisions on the RFQs to which they should respond, based on percentage of RFQs awarded, past experience and other factors.”
From now through the end of the year, buyers are being given the opportunity to clean up un-awarded or un-closed RFQs in their account before the scorecard becomes prominent to suppliers. MFG said higher reputation ratings will result in more bid responses and a better selection of suppliers from which buyers can choose.
MFG.com enables sourcing professionals and engineers to locate manufacturers for CNC machining, injection molding, metal stamping, metal fabrication and many other processes through an online marketplace.