Putting Parts in the "StockMarket"

Having a hard time finding certain parts? California-based Component Control, which produces Quantum Control enterprise resource planning (ERP) software for aviation applications, has a solution to the parts-search dilemma faced by many MRO facilities.

Component Control's web-based StockMarket application, introduced last September, allows Quantum Control users to open their inventories--or portions thereof--to the general public. Anyone looking for a specific aircraft part can go to www.componentcontrol.com and type the part number in the StockMarket "part number search" textbox. Clicking the search button will reveal a list of vendors that have items matching the entered part number currently in stock, plus additional information about the part such as a description, image, manufacturing code, and serial number (if applicable).

"It's all real data and fully functional, even when the search is conducted under a guest account," said Component Control president Todd Lewis. "StockMarket is really all about collapsing the time that it takes to find inventory."

The real-time StockMarket information comes from the inventory management modules of Quantum Control users who choose to post inventory on the StockMarket server. Once the supplier selects the inventory to post, the service works with the supplier's Quantum Control software to keep the inventory updated on the StockMarket server. When the user changes the quantity of a posted part in the Quantum Control inventory module, StockMarket updates the quantity in real-time as well.

Currently StockMarket contains more than four million stock lines representing 540 million individual parts posted from approximately 300 participating companies. As this number reflects only one-quarter of total Quantum Control users, Component Control executives expect the number of parts posted on StockMarket to continue growing.

With so many parts available, a search for a particular part may return several dozen hits. Obtaining quotes is fairly easy: select the lines for which you want more information and press the "request for quote" (RFQ) button. The StockMarket server sends e-mails containing the part number and your contact information to the corresponding suppliers. The e-mail inserts the RFQ information from the StockMarket application into the supplier's Quantum Control sales module, eliminating any supplier data entry concerning that RFQ. The supplier simply prices the parts as requested and manages the RFQ just like any other customer quote in its system, although it has the option to respond back through the StockMarket. If the requestor is also a Quantum Control user, RFQs returned through the StockMarket are instantly updated in the requestor's Quantum Control system.

When both requestor and supplier are Quantum Control users, supply chain management efficiency skyrockets. Because the StockMarket service is fully integrated into Quantum Control, users do not need to leave their inventory screens to search for parts. When StockMarket-enabled users click on a needed part in their inventory screen, a green StockMarket icon flashes to indicate that the system has identified a supplier with the required part number in stock.

StockMarket also allows some inventories to be seen only between certain clients. For instance, five subsidiaries of aerospace giant The Zodiac Group currently use StockMarket's capability within Quantum Control to achieve higher supply chain-management efficiency. The companies, AVOX Aviation Oxygen Systems, In-Eros, In-Services America, In-Services Asia, and In-Services (Middle East), are all part of a private Zodiac community within StockMarket that allows each company to post inventory seen only by the other Zodiac companies. When one company receives a customer request for a certain part, the sales representative can immediately determine where that part is currently stored, even if it's at one of the other Zodiac companies.

"We believe the industry will be consolidated through technology like StockMarket," said Lewis. "It makes the supply chain more efficient, bringing lower costs to the buyer and more opportunities to the seller. Plus, using private communities allows large companies to redistribute and resupply different distribution points based on real-time stocking levels at various centers."

Some StockMarket customers are using private communities as web-based "store fronts." For example, KRN Aviation allows customers to perform a search of its current parts inventory through its own website (www.krn.com). The search results look exactly like a StockMarket search, except that only KRN parts are shown.

"Basically, KRN owns a private community where the only entities assigned to that private community are KRN and guest," explained Lewis. "So KRN is the only company that can post data to that community, but anyone can log into KRN's website as a guest and browse KRN's inventory. So the private community can be leveraged to solve a number of different problems."

Currently only Quantum Control users who purchase the service maintenance agreement (approximately $120 per month for a single-user license) can post inventory to StockMarket. However, Lewis said that Component Control may open posting capabilities to non-Quantum Control users on a fee basis in the near future.

-By Kim Rosenlof