Covisint Handles 100 Million Supply Transactions Monthly - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Covisint Handles 100 Million Supply Transactions Monthly

Procurement on the auto-industry exchange has reached the level of an entire auto company's monthly purchasing activity.

The automotive industry exchange Covisint LLC is handling 100 million supply-chain procurement transactions per month between 2,000 suppliers and the leading automakers that founded the exchange, according to data released Monday. The number of transactions, and the number of suppliers participating in them, is exceeding expectations, analysts say.

SupplySolution Inc., Covisint's primary supply-chain software vendor, says the materials being handled over Covisint range from nuts and bolts to complex engineered parts such as braking systems, steering and suspension systems, electronics, occupant-safety systems, and engine components. A Covisint spokesman confirmed SupplySolution's figures.

The volume of transactions being processed via Covisint is impressive, says Kevin Prouty, AMR Research automotive analyst. "A hundred million transactions a month is roughly the equivalent of an entire auto company's monthly procurement," Prouty says. Even more impressive is the number of suppliers using Covisint, he says, because suppliers initially had been reluctant to sign on to the exchange, fearing they'd be pitted against one another in a bidding war. Prouty says automakers and suppliers are primarily using the browser-based SupplySolution software, called Covisint Fulfillment, in an inventory-management system in which automakers inform suppliers in real time of parts that are used, letting suppliers automatically maintain the stock of those parts at predetermined levels.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Who Should Own RPA?
Lisa Morgan, Freelance Writer,  2/18/2020
IT Salary Report 2020: Get Paid What You Are Worth
Jessica Davis, Senior Editor, Enterprise Apps,  2/12/2020
10 Analytics and AI Startups You Should Know About
Cynthia Harvey, Freelance Journalist, InformationWeek,  2/19/2020
Register for InformationWeek Newsletters
Current Issue
IT Careers: Tech Drives Constant Change
Advances in information technology and management concepts mean that IT professionals must update their skill sets, even their career goals on an almost yearly basis. In this IT Trend Report, experts share advice on how IT pros can keep up with this every-changing job market. Read it today!
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll