FreeMarkets Announces Agreement with Tyco

International conglomerate to use provider's solutions to lower costs, achieve operating excellence


International conglomerate to use provider's solutions to lower costs, achieve operating excellence

San Diego, CA — April 15, 2004 — The diversified manufacturing and service company Tyco International Ltd. has signed an agreement with global supply management solutions provider FreeMarkets Inc. Under the terms of its agreement with FreeMarkets, Tyco will use FreeMarkets FullSource, FreeMarkets QS and FreeMarkets Supplier Implementation to lower costs and achieve operating excellence across its organization.

The announcement came during WorldSource 2004, FreeMarkets' annual global supply management conference being held this week in San Diego.

"Tyco is committed to increasing the value of our company and our global brands by achieving operating excellence in every segment of our organization," said Shelley Stewart, Jr., vice president of Supply Chain, Tyco. "FreeMarkets provides us with unique software and services that enhance and accelerate our ability to meet this goal by enabling us to manage our strategic sourcing process more efficiently and effectively."

According to FreeMarkets, FullSource is designed to help companies accelerate savings and lower supply risk. The QS solution is meant for automating, streamlining and providing visibility into sourcing projects. Finally, Supplier Implementation Solution enables companies to improve the speed and quality of their implementation process.

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