SOURCE: MINDFLOW

August 03, 2005 11:40 ET

Sourcing Leader Announces MINDFLOW Scorecard™ to Improve Supplier Cost, Quality and Responsiveness

PLANO, TX -- (MARKET WIRE) -- August 3, 2005 -- MINDFLOW, the leader of on-demand solutions for inbound supply chain planning and sourcing optimization, announces the release of MINDFLOW Scorecard™. Companies using this product apply their own business rules and criteria to quickly measure and communicate supplier performance in an automated, systematic way. Businesses eager to improve supplier cost, quality and responsiveness can now efficiently gather facts from many sources across the enterprise on a routine basis. Sourcing professionals use the resulting intelligence to formulate and communicate supplier development programs as well as to establish a factual basis for sourcing and allocation decisions.

Earlier this year, MINDFLOW announced the release of MINDFLOW® 5.0, MINDFLOW® OnDemand and Category-in-a-Box™; all designed to eliminate sourcing complexity and help companies build sourcing decision models. The MINDFLOW Scorecard™ offering allows users to collect details about supplier performance to include in their dynamic cost and decision models for categories including parts, ingredients, commercial print, packaging, services, capital spend and MRO.

Chetan Raniga, director of product management at MINDFLOW, commented, "Organizations that encourage cross-functional collaboration to improve supplier performance are on the right track toward improving supply chain value. Companies using MINDFLOW Scorecard™ compound the value because they apply their own KPIs (key performance indicators) quickly, usually within about two weeks. Rapid rollout on custom content delivers an edge over the competition."

MINDFLOW Scorecard™ eliminates the need for manual assessments using spreadsheets, which can be time consuming and prone to errors. MINDFLOW's collaborative product allows teams to consistently and accurately track and manage all types of supplier performance measures. Even companies with disparate procurement systems or a massive supply base can quickly implement an effective supplier scorecard program using MINDFLOW®.

Best practices enabled by MINDFLOW Scorecard™ include:

--  Gather opinions, areas of non-conformance, and action plans from all
    stakeholders throughout the organization -- quick, efficient collaboration
--  Specify standards and content according to your company's business
    requirements and goals -- customize scorecards for your own competitive
    advantage
--  Create executive summary and progress reports over time -- by region,
    by department, by supplier or by category
--  Share progress reports with the supply base to identify areas of
    accomplishment and opportunity
--  Leverage qualitative data to make informed sourcing allocation
    decisions
    
For more information about MINDFLOW Scorecard™, please contact Scott King, (972) 930-9988 x234.

About MINDFLOW

MINDFLOW helps companies save time, save money and reduce risk with on-demand solutions for inbound supply chain planning and sourcing optimization. Using MINDFLOW, companies develop sourcing decision models that accelerate savings and increase margins. MINDFLOW offerings include Category-in-a-Box™, MINDFLOW® EZ, MINDFLOW® OnDemand and the MINDFLOW library of more than 200 best-in-class sourcing decision models. Together with marquee customers, we have sourced billions of dollars in direct and indirect goods and services and have enabled many millions of dollars in cost reductions. With offices in the Americas, Europe and Asia, MINDFLOW helps customers realize aggressive savings goals. To learn more about MINDFLOW, visit www.mindflow.com.

MINDFLOW® is a registered trademark of MINDFLOW Technologies, Inc.

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