Bay Supply, an online marketplace serving the fastener industry, has announced the launch of its innovative Bay-Auto-Quote management system. The new system is designed to streamline and change how buyers and sellers interact and transact in the fastener industry.
The new Bay Auto-Quote Management System auto-calculates a quote response, presenting the ship and back-order quantities, as well as the pricing options.
When fastener manufacturers register on the Bay Supply Platform, they’re presented with a variety of selling options — directly, through authorized distributors, via Bay Supply as their distributor, or made-to-order.
Regardless of the chosen registration method, Bay ensures a smooth onboarding process. According to the company, its mission is to build the manufacturer’s entire product catalog, encompassing all available digital assets (images, catalogs, specification sheets, flyers, videos) to create a comprehensive digital branding and sales strategy.
Registered distributors can select their desired manufacturers and brands. If these manufacturers already have a digital catalog on Bay Supply, the catalog will be instantly syndicated to the distributor’s offering, eliminating the time-consuming task of catalog creation from scratch. Distributors can also re-assign SKUs, add their selling units of measure and pricing, and list any available inventory.
This seamless process feeds the groundbreaking Bay Auto-Quote management system. When a buyer sends a quote request for any number of items, the RFQ is syndicated to all the registered Distributors or direct-selling Manufacturers that sell the specific product categories or brands requested. Instead of searching for suppliers on various websites, the buyer can send an RFQ to the entire fastener industry supply chain with a single click, saving hours of sourcing time.
Upon receiving the RFQ, distributors, direct selling manufacturers, or MTO manufacturers can quickly review, edit, and submit their quotes. The Bay Auto-Quote Management System auto-calculates the quote response, presenting immediate ship quantities, back-order quantities, and pricing (including bulk discounts).
Buyers are then notified of the responses to their RFQs, allowing them to consider, reject or save for future purchase orders. Through the system’s communication function, they can submit questions, ensuring effective communication with sellers.
If an organization requires internal approval, the Bay Auto-Quote system provides a print function, enabling buyers to share their potential purchases easily.
Once the purchases have been approved, a single purchase order can be made for multiple vendors, streamlining the procurement process.
“The Bay Auto-Quote system is a game-changer for the fastener industry. It eliminates hours of sourcing efforts, aligns offers for easy comparison, and enables a single point of communication with all vendors,” said Mike Eichinger, COO at Baysupply.com. “More than anything, it streamlines the process for the buyer, providing the ability to submit a single purchase order for multiple SKUs offered by multiple distributors or manufacturers in a single transaction.”
Bay Supply is a B2B e-commerce marketplace for the fastener industry. Each month, over 40,000 sourcing professionals use Bay Supply to procure rivets, fasteners, and more from the heart of the fastening industry supply chain.
Filed Under: Fastening + joining