Marietta, Ga. - Oct. 18, 2016 - MFG.com, the world's largest online manufacturing marketplace, announces the implementation of safeguards to protect users of its global platform from unknowingly engaging in commerce or competing with foreign companies. Effective Oct. 1, 2016, all manufacturers will be required to certify the geographic location of their firm's primary production facility.
These changes are necessary to:
Increase marketplace transparency for both buyer and supplier members.
Ensure fair and open competition among suppliers from different countries.
Prevent deceptive practices by some suppliers representing themselves as "local" while sub-sourcing to Low Cost Countries (LCCs).
MFG.com recognized that foreign firms had been registering as U.S. companies by using post office boxes located within the United States as their business address. While MFG.com took steps to correct misleading information as it became known, customer confidence and trust remained ongoing concerns. MFG.com took this action to add clarity for both buyers purchasing goods and suppliers competing for manufacturing work on its platform. Under these new rules, firms misrepresenting the location of their production facilities are subject to being banned permanently from the marketplace.
Bo Hagler, chief executive officer of MFG.com, said, "MFG.com is committed to accuracy and transparency in our operations and in the transactions occurring on our platform. We have found that improper registration has occasionally led to unfair competition in the marketplace and to erroneous sourcing decisions on the part of our buyers. The newly implemented safeguards should overcome these issues, promote fairness and inject a higher level of quality in all transactions conducted in MFG.com's global manufacturing marketplace."
MFG.com enables sourcing professionals and engineers to quickly and easily locate quality manufacturers for CNC machining, injection molding, metal stamping, metal fabrication and many other processes through an easy-to-use, online marketplace. MFG.com has helped thousands of manufacturers—ranging from small machine shops to large conglomerates—increase sales and profits. For more information, please visit our website at www.mfg.com.
More Info: http://www.mfg.com/