Xometry Launches Digital Sourcing Tools on Thomasnet.com
Company also unveils cloud-based manufacturing execution system for suppliers.
July 1, 2022
Xometry, Inc. has unveiled new digital sourcing tools on Thomasnet.com for enterprise buyers and a new cloud-based manufacturing execution system for suppliers, which will be open to third-party developers to build integrated applications.
At the company’s “Xometry Marketplace Summit: Powering Tomorrow’s Supply Chain,” Xometry CEO Randy Altschuler detailed how the Xometry Instant Quoting EngineSM, Job Board and financial services features from the Xometry Marketplace are now fully integrated into the Thomasnet.com platform. Tightly integrating the Xometry Marketplace and Thomasnet.com platform enables Xometry to scale its network of active buyers and suppliers more rapidly by putting the “buy it now” option in front of the more than 1.4 million Thomas registered users who generate millions of sourcing and quoting sessions annually, Altschuler says.
The new products unveiled include:
- The Industrial Buying Engine, which enables enterprise customers to source and purchase from the more than 500,000 top suppliers on Thomasnet.com. It digitizes the request-for-quote process, condensing to just hours or minutes what once took days and weeks to complete, Xometry reports. Through the Industrial Buying Engine, enterprise buyers can request quotes for products and services from trusted suppliers and they can also access the Xometry Instant Quoting Engine for more immediate transactions. Additionally, buyers can start a conversation with suppliers directly on Thomasnet.com, and suppliers can instantly submit quotes and accept projects. The Industrial Buying Engine was to be available on Thomasnet.com beginning June 30.
- Workcenter, which gives suppliers a one-stop view into all of their Xometry and non-Xometry work. A centralized project management and payment solution, Workcenter brings the Job Board and financial services into one, easy-to-use system, the company reports. With Workcenter, shop owners can build and manage workflows for all projects, including those from non-Xometry customers; quote new projects from Xometry and Thomas; assign tasks to team members and track the status of projects. Workcenter is flexible enough to help small- and medium manufacturers make the leap to digital. Workcenter also helps suppliers use expedited payment terms to continue to expand. Workcenter will be available at no charge from Workcenter.Xometry.com beginning June 30.
Altschuler notes that Xometry will open up the application programming interface-enabled Workcenter to third-party developers, establishing Workcenter as a platform for innovators seeking to deliver an ecosystem of interconnected solutions for suppliers.
“Recent global events have underscored the need for the vital role that Xometry plays in the rapid digital transformation of the manufacturing industry, from the procurement process to the shop floor,” Altschuler notes. “With our large and growing network of suppliers, expanding set of manufacturing capabilities and new software to integrate with our customers’ internal systems, Xometry is an enterprise-wide solution. We work across the supply chain and are deeply embedded with procurement managers, buyers and engineers on the one hand, and thousands of manufacturers on the other.
“We are scaling quickly to be the technology solution that drives efficiency for the $2.4 trillion manufacturing industry, and we are becoming the de facto rails through which buyers procure services and the thousands of small- and medium-sized suppliers across the country deliver it,” Altschuler adds. “With our new integrated Industrial Buying Engine and Workcenter offerings, we’re leveraging the strategic acquisition of Thomas with the power of our AI-driven Xometry Marketplace and Instant Quoting capabilities to deliver on our promise of advanced technology solutions benefiting buyers and suppliers. The new products align with our mission of championing manufacturing, the backbone of our economy here and abroad.”
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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