Need 2 Make Changes

Need2Buy names president, private trading network solution

Westlake Village, CA  August 6, 2001  Need2Buy has named Nima Bakhtiary has joined the company as president. Bakhtiary will lead the development and expansion of Need2Buy's new Private Trading Network (PTN) solution and direct enhancements to the company's established open online marketplace.

Bakhtiary comes to Need2Buy with a 20-year background in software development, sales and marketing, including extensive experience in design, sourcing and supply chain management applications. Most recently, he was executive vice president of strategic business development for Adexa Inc., which provides collaborative supply chain solutions to link manufacturing organizations with their key business partners. Need2Buy entered into a strategic alliance with Adexa earlier this month to co-develop and market solutions for mid-sized electronics manufacturers, and Bakhtiary's appointment as Need2Buy's president advances this relationship.

"Nima's deep domain expertise with supply chain management solutions and his proven ability to grow emerging technology companies will be a tremendous asset as we advance our vertical service provider (VSP) strategy," said Maury Friedman, Need2Buy's chairman and CEO. Friedman added that Bakhtiary is replacing Andrew Wilson, who will serve as a consultant to the company during the transition period.

The company is now introducing a private trading network solution that broadens its range of supply chain products to address design collaboration, sourcing, procurement and order-management processes. Need2Buy's PTN solution provides a secure, private environment in which electronics manufacturers can share information more efficiently across their organizations, as well as with their suppliers and manufacturing partners. This solution improves the visibility and flow of critical business information throughout the product life cycle, so that companies can make faster and better-informed decisions, accelerate time to market and reduce product development costs.

The PTN solution, hosted online, is designed to be implemented without software or hardware, in order to provide a quick return on investment. Companies that have not implemented electronic data interchange (EDI) technology or eXtensible Markup Language (XML)-based standards can also use the solution to improve their business processes from initial product design, through production, to end of life.

The PTN solution is individually tailored to address the specific needs of each customer, and because it is also scalable and modular, it can be easily expanded to accommodate the changing requirements of rapidly growing companies.

"Need2Buy's PTN solution marks the convergence of the application service provider model and the online marketplace, and moves the company beyond its initial sourcing platform to address a wide range of collaboration opportunities throughout the product life cycle," said Bakhtiary.