BAE SYSTEMS Deploys Exostar's eSourcing Solution to Thousands of Users.Business Editors FILTON, Bristol, United Kingdom--(BUSINESS WIRE)--May 13, 2003 BAE SYSTEMS BAE Systems British manufacturer of aircraft, missiles, avionics, naval vessels, and other aerospace and defense products. BAE Systems was formed (1999) from the merger of British Aerospace (BAe) with Marconi Electronic Systems. recently enabled access to Exostar's SourcePass eRFQ solution for all its buyers, as well as other BAE SYSTEMS participants in the sourcing process including engineers, contract managers and others representing several thousand potential end users. Using this solution, the users will be able to invite any of the 14,000 suppliers with a current Exostar membership to respond to Request for Quotes or participate in Procurement Auctions. "During the first quarter 2003, BAE SYSTEMS' suppliers on Exostar have already received hundreds of electronic requests for quotes worth more than GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 4 million. Our commitment to use Exostar to conduct our sourcing and trading activities over the Internet continues to grow and underlines the value we place in Exostar as our supply chain enablement solution provider. With this enterprise-wide solution deployment, BAE SYSTEMS' use of Exostar's SourcePass and the Trading Partner Directory is expected to increase dramatically," says Russ Armitage, BAE SYSTEMS Director of Strategic Supply Management. The SourcePass deployment applies to 13 BAE SYSTEMS business groups and 1,400 buyers across more than 90 locations in the UK and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Together the company raises around 100,000 requests for quotations and spends approximately GBP 6 billion with 18,000 suppliers annually. BAE SYSTEMS is already a major customer of Exostar's SourcePass eAuction service having conducted over 350 reverse auctions over the last two years. BAE SYSTEMS is also evaluating additional SourcePass services, including eRFI (electronic request for information), Award Optimization, and Integration to their back-office systems for more efficient sourcing data management. SourcePass, Exostar's platform for electronic sourcing, enables buying organizations to create, distribute and analyze sourcing related data in the form of RFIs, RFQs/RFPs, and reverse auctions. SourcePass also provides instant access to a community of over 14,000 aerospace and defense suppliers via the integrated Trading Partner Directory feature. Suppliers receive the benefit of an always-on response system for building responses to RFIs, RFQs/RFPs and participating in reverse auctions with premier buying organizations in the aerospace and defense industry. Exostar is an electronic business service provider built for and with the $400 billion aerospace and defense industry. Exostar connects manufacturers, suppliers and customers in a highly secure virtual marketplace for sourcing, commerce and collaboration. Exostar's objective is to create value for members by reducing process costs and improving cycle times. It does this by providing on-line services and tools that the global aerospace and defense industry uses to standardize eBusiness processes and systems. Exostar's founding partners are BAE SYSTEMS (LSE LSE - Language Sensitive Editor : BA), Boeing (NYSE NYSE See: New York Stock Exchange : BA), Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. Corp. (NYSE: LMT LMT left mentotransverse (position of fetus). ), Raytheon Co. (NYSE: RTN RTN Return RTN Raytheon Company (stock symbol) RTN Research Training Network RTN Rotarian RTN Routing Transit Number RTN Recursive Transition Network RTN Register Transfer Notation RTN Radial Tangential Normal , RTNB RTNB Radio Television Nationale du Burundi (Africa) RTNB Return the Next Bit (computers) ) and Rolls-Royce (LSE:RR). |
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