Leaps and Bounds

Requisite Technology reports rapid adoption of supplier hub

Westminster, CO  November 15, 2001  Underscoring the need to accelerate supplier participation in buy-side e-business initiatives, Requisite Technology Inc. announced that the Requisite Supplier Hub, a Web-based content platform that was launched in July, has posted rapid adoption among suppliers, buying organizations and marketplaces.

According to a statement by Requisite Technology, the Requisite Supplier Hub has created 1.4 million active stock keeping units SKUs from more than 130 suppliers; registered 300 suppliers and 55 buying organizations worldwide; and has been adopted by 11 vertical markets, including electronics, metals and mining, utilities, and industrial equipment

The company said that suppliers are already using the the Requisite Supplier Hub to export active content to participating buyers' procurement systems, and both large and small participating suppliers have authored online catalogs ranging in size from one SKU to more than 300,000 SKUs. Out of the 55 registered buying organizations and marketplaces, 24 already have extracted SKUs from the suppliers' authored content for use in their procurement catalogs.

According to Jared Moon, senior analyst at RetailersMarketXchange (RMX), "Working with Requisite has accelerated the process of onboarding supplier catalogs at RMX tremendously. What used to take months can now be accomplished in days."

"The rapid adoption of the Requisite Supplier Hub illustrates the importance of supplier participation in e-business, " said Bob King, chairman and CEO of Requisite Technology. "By providing a highly scalable, Web-based collaborative platform for all participants in the supply chain, Requisite is helping close the online gap between buyers and suppliers, ultimately leading to successful procurement and e-commerce initiatives worldwide."