Xometry Brings Instant Quoting To Alibaba Group’s 1688.com On-Demand Manufacturing Services
30 March 2023 - 11:07PM
Alibaba Group’s 1688.com, China’s largest integrated domestic
wholesale marketplace, and Xometry, the global on-demand
manufacturing service provider, today announced that Xometry’s
Instant Quoting Engine will be embedded in 1688.com’s on-demand
manufacturing services. The move gives buyers in China the ability
to receive instant quotes and lead times from Chinese suppliers,
data that is fueled by Xometry’s AI-powered Instant Quoting
Engine®. Xometry is the only partner specialized in the structural
parts on 1688.com that will provide real-time pricing and lead
times.
The news was announced today at the Shenzhen International
Industrial Manufacturing Technology and Equipment Exhibition. In
helping Chinese companies instantly source suppliers for critical
manufacturing projects, Xometry’s AI powered Instant Quoting Engine
technology embedded within 1688.com will help domestic companies
further strengthen their local supply chains. It will also fuel
innovation by digitizing a once-laborious process, creating
significant efficiencies from product conception to manufacturing,
allowing goods to get to market faster for the benefit of all.
“China continues to innovate on the world stage and that’s
driven in large part by the vast manufacturing capacity of our
country,” said Vivienne Xiang, General Manager of Xometry Asia.
“The unparalleled reach of 1688.com along with our innovative
AI-powered on-demand manufacturing service greatly benefits buyers
by speeding up the sourcing cycle, while also helping manufacturers
attain more work and ultimately grow their businesses.”
“Companies all across China are continuously innovating and
bringing new goods to market that lead to a better life for all,”
said Jingjing Zhang, General Manager of Industrial Unit of
1688.com. “We’re pleased to introduce Xometry’s industry-leading
technology featuring its instant-quoting engine to help companies
make smarter decisions in real-time.”
“Xometry is digitizing manufacturing, the backbone of our global
economy, and helping companies everywhere strengthen their critical
supply chains,” said Randy Altschuler, CEO of Xometry. “The
inclusion of our Xometry Instant Quote Engine within 1688.com will
help drive efficiency and innovation for both buyers and suppliers
in China, bringing new ideas to life and allowing revolutionary new
goods to get to market faster.”
The product will launch in late April.
About XometryXometry (XMTR) powers the
industries of today and tomorrow by connecting the people with big
ideas to the manufacturers who can bring them to life. Xometry’s
digital solution gives manufacturers the critical resources they
need to grow their business while also making it easy for buyers at
Fortune 1000 companies to tap into global manufacturing capacity
and create locally resilient supply chains. Learn more at
www.xometry.com or follow @xometry.
Contacts:Matthew HutchisonVP, Corporate
CommunicationsMatthew.hutchison@xometry.com
Shawn MilneVP, Investor
Relations240-335-8132shawn.milne@xometry.com
Xometry (NASDAQ:XMTR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Xometry (NASDAQ:XMTR)
Historical Stock Chart
From Apr 2023 to Apr 2024