RubberNetwork: the e-Procurement Global Portal
AKRON, Ohio (April 17) - Six of the largest companies in the tire and rubber industry announced their intention today to develop a global purchasing and procurement market place.
RubberNetwork.com - an independent company - will host a global exchange, which will include Continental, Cooper, Goodyear, Michelin, Pirelli, and Sumitomo Rubber. Total purchases for the tire and rubber industry represent more than $50 billion a year spent on raw materials, equipment, machinery, goods and services.
The exchange will enable members to increase the efficiency of their operations and to achieve substantial savings in the cost of doing business. Each transaction will be protected by appropriate firewalls to ensure the confidentiality of each company's individual business activities.
Participating members are convinced that the initiative will achieve significant savings and efficiencies in the purchasing and procurement end of the value chain. It will provide e-business solutions tailored to their industry, thereby allowing them to better serve their customers.
The exchange will also welcome the opportunity to work closely with other exchanges, especially those associated with the auto industry.
The exchange will be open to all manufacturers and suppliers within the industry and is expected to be operating before the end of the year.
RubberNetwork.com Announces Addition of Bridgestone as Seventh Member Company
May 12, 2000 - RubberNetwork.com announced today that Japan's Bridgestone Corp. has become its seventh member company.
Bridgestone joins Continental AG, Cooper Tire & Rubber Company, The Goodyear Tire & Rubber Company, Groupe Michelin, Pirelli SpA and Sumitomo Rubber Industries.
It is also announced that McKinsey and Company, an international management consultancy, has been retained as overall e-commerce advisor for the initiative, with an announcement on the technology provider to be made in the near future.
RubberNetwork.com - which will be an independent company - was announced April 17, as a global electronic purchasing and procurement exchange for the tire and rubber industry. Total industry purchases represent more than $50 billion a year spent on raw materials, equipment, machinery, goods and services. The seven member companies represent approximately 75% of global tire industry manufacturing capacity.
The exchange will enable member companies to increase the efficiency of their operations and to achieve substantial savings in the cost of doing business. RubberNetwork.com welcomes the opportunity to work closely with other exchanges, especially those associated with the auto industry. Additional manufacturers and suppliers are expected to join the exchange, which intends to be operating before the end of the year.