|By Business Wire||
|February 4, 2014 08:30 AM EST||
Social tools and business networks have changed the very nature of business and engagement. And innovative companies are leveraging them to fuel new, more efficient processes that drive advantage. Take Illinois Tool Works (NYSE: ITW). As a multinational manufacturer of industrial products and equipment, the company relies on a global base of suppliers to produce the value-added products its customers have come to expect. ITW has enriched their network of suppliers using Ariba® Discovery, the premier service for matching buyers and sellers globally offered by Ariba, an SAP company. On March 18, ITW will discuss how it is using the service to enhance its supply base and in turn, reduce both costs and risk, at Ariba LIVE, the business commerce event of the year to be held at The Cosmopolitan of Las Vegas March 17-19.
“ITW has 100 years of history delivering innovative products and outstanding service. But to maintain our position in the marketplace and gain a competitive advantage, we knew we needed to better manage our global sourcing spend and trading relationships,” said Ashley Moore, e-Sourcing Analyst, ITW. “With Ariba Discovery we can quickly find, qualify and add new suppliers to sourcing events, creating a more competitive environment.”
Since tapping into Ariba Discovery, ITW has been able to create robust postings, which encourage suppliers to ‘self-select.’ This allows ITW sourcing professionals more time to manage their categories. With access to over one million qualified suppliers worldwide across more than 20,000 product and service categories in 17 supported languages and 220-plus currencies, Moore says ITW has been able to uncover previously unknown capabilities of existing suppliers and build a repository of potential new suppliers who can meet the company’s needs.
In their initial phase, business networks were all about connecting buyers and sellers more efficiently. “Today, innovative companies like ITW are harnessing their connectivity and insights to enhance their trading relationships and optimize their spend and supply chain,” said Rob Mihalko, Vice President, Ariba Discovery.
ITW is part of a blue-chip roster of companies set to present at Ariba LIVE. Moore and her colleagues will share their insights and experiences into how others can leverage the connectivity and insights of business networks as they have to move beyond transactions and drive competitive advantage during one of more than 70 breakout sessions.
Registration for this can’t-miss event is open today. To reserve your place, visit: www.aribalive.com
Founded in 1912, ITW’s recipe for success has been consistent: value added products and outstanding service win the day with customers. We place a high premium on the development of highly engineered products and systems–most of which are developed in tandem with our customers. And we continue to ensure that our customers receive timely, cost-effective service for the innovative products we provide.
Today, Illinois Tool Works or ITW (NYSE: ITW) is a Fortune 200 company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It is headquartered in Glenview, Illinois with global operations.
About Ariba, an SAP Company
Ariba is the world’s business commerce network. Ariba combines industry-leading cloud-based applications with the world's largest web-based trading community to help companies discover and collaborate with a global network of partners. Using the Ariba® Network, businesses of all sizes can connect to their trading partners anywhere, at any time from any application or device to buy, sell and manage their cash more efficiently and effectively than ever before. Companies around the world use the Ariba Network to simplify inter-enterprise commerce and enhance the results that they deliver. Join them at: www.ariba.com
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 253,500 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.
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