Timeline

Created in 2000 under the SourcingParts brand, LiveSource has grown over the last 16 years from a humble sourcing platform into a powerful supply chain management tool for sourcing and procurement professionals at some of the world’s largest and most influential manufacturing companies. In 2006, LiveSource was acquired by MFG.com, the world’s largest online manufacturing marketplace, to combine the power of advanced supplier management with the global reach and efficiency of MFG.com.

Industry Timeline

2000-2006

e-RFQs & e-Auctions for Manufacturing Industry The internet hits the purchasing world and makes it possible to structure a “1 to many” discussion. Global companies discover new supppliers, heavily use benckmarking and globalize their spend.

2007-2011

SRM (Supplier Relationship Management) For The Manufacturing Industry
Due to the growing number of suppliers generated by the benchmarking strategy, supplier overlap created by merges or acquisitions and the multiplication of compliance requirements and certificates, companies need to resolve poor data capture on suppliers which prevents meaningful analysis. Supplier risk management becomes a must.

2012-2014

Upgrading Supplier Relationships To “Supplier Collaboration Networks (SCNs)”

Building Supplier Collaboration Networks allows manufacturers to narrow the scope of their supplier portfolios, increasing the collective capabilities of their preferred supplier base. Manufacturers begin to understand the benefits of highly connected and innovative supply chains that include, for example: VA/VE, collaborative innovation and tool sharing.

2015

Adding SQM (Supplier Quality Management) and Part Quality

Because poor product quality can have a huge negative impact on revenue, brand value and reputation, a true Supplier Collaboration Network has to offer production part approval process as well as non-conformity management, including corrective action plans.

2016

Adding Advanced Quality Planning SQM (Supplier Quality Management)
Because suppliers are no longer just producers, quality is not only about the part approval process or non-conformity management. Full program management processes like Six Sigma or APQP need to be shared through the entire supply chain.

See For Yourself How LiveSource Improves Supply Chain Quality And Visibility. Schedule Your 15 Minute Demo Now.