Competitive analysis software application helps manufacturers benchmark quotes

MFG.com has announced the availability of ShopIQ, a competitive analysis software application that helps suppliers and manufacturers benchmark their bids against quotes from competitors. The tool, which is available to all paid subscribers of MFG.com, eliminates manual data reviews and delivers real-time analyses across dimensions such as manufacturing process, geographical region, material, and shop certification.

The software application uses the company’s database of historical request for quote data, allowing shops to compare their quotes retroactively against all competitors, as well as the successful bidder. It generates numerous types of reports that highlight specific comparisons.