Exostar, the aerospace and defence online exchange set up by five of the industry’s biggest players, said the latest release of its marketplace technology gives it full e-commerce capability for the first time.
Exostar has added new collaboration, sourcing and auction features and has beefed up its order management functions for version 4.0 of its e-marketplace portfolio.
BAE Systems, Boeing, Raytheon and Lockheed Martin set up Exostar last year in an effort to create a common platform for buyers and suppliers in their $400bn-a-year military and commercial markets.
The exchange received a major boost in June when Rolls-Royce ended months of speculation by joining as the fifth founding partner.
Exostar said version 4.0 offers a comprehensive e-commerce portfolio for the first time. It includes a new collaboration suite called ForumPass, which gives manufacturers and suppliers a real-time online area geared towards joint projects.The upgrade adds two more sourcing services aimed at users currently lacking the ability to take part in complex e-auctions, possibly because they do nothave the necessary bandwidth capacity.
Other changes include enhancements to Publisher, the online catalogue management tool, and an upgrade to SupplyPass, Exostar’s order automation feature.Between them, the five founders aim to connect more than 250 procurement systems to Exostar during the next 18 months.
The exchange has signed up around 7,000 suppliers so far, but believes there are a potential 40,000 up for grabs in the worldwide aerospace and defence markets.