Latest Success Stories
At FASTXchange, we're proud of our track record of helping firms make dramatic improvements to their procurement operations. That record includes an established ability to cut the costs of goods and services by up to 10%, reduce procurement costs by as much as 60%, and improve fulfillment cycles by more than 70%.

We invite you to learn about how we've helped a few of our customers reach success in their procurement processes.

Raytheon Company
One of the world's leading diversified technology companies, Raytheon Company faced the common industry problem of expensive and slow purchasing cycles a problem made worse by the firm's reliance on a manual process for sourcing the wide range of materials from inexpensive components to major electronic systems needed to meet both engineering and production requirements.

Tedious and time-consuming, this process was further aggravated by a wave of reductions in the purchasing department, turning the already difficult procedure into a near-impossible task for the remaining staff members.

Fortunately for Raytheon, they found FASTXchange. Featuring a flexible architecture capable of handling the firm's stringent procurement requirements, the impact of FASTXchange's automated system was immediate, far-reaching and dramatic.

In fact, since installation, the system has allowed some of Raytheon's participating sites to slash their average purchase order cycles from 20 days to two a 90% reduction in cycle time. In other cases, FASTXchange helped specific areas of Raytheon reduce their operating cost by an estimated 40%. First launched in their El Segundo facility, FASTXchange has been subsequently expanded to the firm's Tucson, Fullerton and Dallas-area sites.

According to Lynne Mueller, corporate indirect strategic agreements manager, "We no longer have to devote valuable resources to tasks associated with certain segments of the purchasing process," says Mueller. "Our buyers can now devote their time to the more strategic procurement issues. Productivity has jumped enormously due to the FASTXchange system, which has steadily maintained an average purchase order cycle time of two days for more than two years."

In fact, in September 1999, FASTXchange won a competitive evaluation among other purchasing alternatives to be selected as the strategic company wide supplier of outsourced procurement service. The three-year multimillion-dollar contract is available for all Raytheon business units worldwide. According to Mueller, "The contract is our endorsement of a superior service at a superior value."

Interested in hearing more FASTXchange success stories? Contact us at .