I would highly recommend First Index to any Buyer with a need to extend their supplier base either domestically or globally.  If our purchasing group at CMW would have tried to expand into global sourcing without the assistance of First Index, we would still be in the infant stages of our projects.  Instead, we have located and approved suppliers that are turning out to be very valuable. 

First Index provides the tools and support to successfully locate and partner with suppliers that can bring a lot to the bottom line of your company.

Partnering with First Index

After evaluating several companies that offer assistance in sourcing, First Index was the company that rose to the top in regard to what could be offered to help us advance with our globalization efforts.  We partnered with First Index in August in 2006. 

Buyers from CMW attended the First Index Summit and Supplier Introduction Meetings in Shanghai, China in November of 2006 and in New Delhi, India in March of 2007.  Both summits were very informative and valuable and led to locating suppliers in both China and India that are now set up as approved suppliers for The Charles Machine Works, Inc.  Cost savings and in some instances, improved quality have been achieved thus far by partnering with suppliers located via RFQs on the First Index platform.  Some of the services that First Index provides that have proved to be of great value revolve around the fact that they have employees on the ground for local support in several low cost countries.  The supplier site inspections and audits as well as the translating services that are provided are of tremendous value.  First Index also arranged for the letters of invitation that are required when traveling to China and India and took care of all of the logistics for the trips. 

The First Index Project Managers help OEMs learn how to navigate through the platform and how to utilize the tools provided on the platform.  On designated projects the mangers prepare the documents and set up and help manage the RFQs with you.  The Project Manager will also assist in training for all facets of the platform so that you can post and manage as many of your own RFQs as you desire.  The First Index employees are very knowledgeable of their suppliers and offer suggestions on recommended suppliers that will fit your individual needs.  Examples of the types of products that we have listed on the platform with good results are castings, upset forged products and gears.      

Sample Results of RFQs on First Index Platform

Below are some sample results of the percentage of savings that The Charles Machine Works, Inc. has found through the First Index platform.

Product Type                           Country                Percentage of Savings
Ductile/Steel Castings              India                    2-30%                          
Large Steel Castings                China                   50-65%
Upset Forged Products            China & USA        50-70%
Gears                                   China & India       20-50%

Note:  we were also able to receive a product of better quality than what we purchase in the United States on the large steel castings that are purchased from China.