Nashville, TN — May 19, 2003 — U.K.-based engineering company GKN plc has selected Procuri 4.0 as its strategic sourcing solution.
GKN, with 2002 revenues of $7.2 billion, focuses on the automotive and aerospace industries and is active in more than 30 countries in Europe, the Americas and Asia Pacific.
The company plans to use Procuri's solution to streamline its sourcing process, incorporate sourcing best practices across its organization and improve communication with suppliers.
"Our procurement professionals needed a tool to help them analyze data, collaborate with multi-disciplinary team members and suppliers, collect information, explore possibilities, leverage volume across locations, capitalize on our buyer's strengths, and utilize appropriate competition in the market to get best value," said Nigel Herrington, head of group procurement for indirect materials at GKN.
Procuri said that a key selection criterion for GKN was the provider's intuitive platform and its team's sourcing experience and knowledge, which GKN hopes to tap to reduce its sourcing cycle times.
"Our solution will help GKN professionals extend sound sourcing practices across its organization and will allow them to become true practitioners of the art of sourcing," said Mark F. Morel, Sr., Procuri's president and CEO.