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AGCO Fortifies Supplier Bond with New e-Sourcing Platform

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The manufacturer and distributor of agricultural equipment, AGCO CorporationAGCO has launched the AGCO e-Sourcing platform. The web-based platform will give suppliers easy access to all global sourcing projects of AGCO's brands and sites by reducing complexity.

The launch of this e-Sourcing platform is in sync with AGCO's Global Purchasing Excellence initiative. The web platform is powered by SynerTrade's software. SynerTrade's software provides a powerful platform which encourages collaboration, efficiency and transparency through high-performance technologies.

The utilization of the e-Sourcing platform in conjunction with AGCO's award-winning 2015 supplier (risk) management solution will enable the company's commodity teams globally to make decisions on the basis of supplier performance, as well as potential compliance, economic, geopolitical and other risks. Moreover, AGCO will exploit the platform to rationalize and strengthen supplier collaboration at a global level.

AGCO continues to invest in its initiative to transform into a truly global purchasing organization. Under the Global Purchasing Excellence initiative, the company is transforming into a global commodity management organization by executing strategies to drive sustainable value through its supplier network. The investments in tools and processes will strengthen business relationships with suppliers while enhancing cost competitiveness, innovation and on-time delivery performance.

Moreover, AGCO is poised to benefit from investment in new product development and distribution enhancements. Focus on repurchase activity and cost reduction measures, also raise hope for AGCO. Further, the company continues to make strategic investments to improvise and expand its product suite, upgrade system capabilities, and improve productivity.

Duluth, GA-based AGCO is a global leader focused on the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, grain storage and protein production systems, as well as related replacement parts.

AGCO currently carries a Zacks Rank #2 (Buy). Other favorably ranked stocks in the same sector are Titan International Inc. TWI , ACCO Brands Corporation ACCO and AptarGroup, Inc. ATR , all carrying the same Zacks Rank as AGCO.

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AGCO CORP (AGCO): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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