Xometry Introduces New Digital Sourcing Tools on Thomasnet.com for Enterprise Buyers and Unveils New Cloud-Based Manufacturing Execution System for Suppliers

(image: Xometry, Inc.)

press release notification

ROCKVILLE, Md., June 29 (Korea Bizwire) — Xometry, Inc. (NASDAQ: XMTR), the global online marketplace connecting enterprise buyers with manufacturing service providers, today unveiled new digital procurement tools on Thomasnet.com for buyers and a new cloud-based manufacturing execution system for suppliers, which will be open to third-party developers to create integrated applications. The new products are designed to bring buyers and suppliers even closer together and further accelerate the creation of locally resilient supply chains.

At the company”Xometry Marketplace Summit: Powering Tomorrow’s Supply Chain“, Randy Altschuler, CEO of Xometry, explained how Xometry’s popular instant quote engineSM, Job Board and financial services features of Xometry Marketplace are now fully integrated into the Thomasnet.com platform. Tight integration of Xometry Marketplace and the Thomasnet.com platform allows Xometry to scale its network of active buyers and suppliers faster by putting the “buy now” option in front of the more than 1.4 million of registered Thomas users who generate millions of sourcing and quoting sessions annually, Altschuler said.

New products unveiled today include:

  • The industrial purchasing engine, which helps corporate customers source and buy from over 500,000 top suppliers on Thomasnet.com. It digitizes the old and tedious quote request process, condensing into hours or minutes what once took days and weeks. With the Industrial Buying Engine, corporate buyers can request quotes for products and services from trusted, high-value suppliers and they can also access the Xometry Instant Quote 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 will be available on Thomasnet.com from June 30th.
  • work center, which gives vendors a single view of all of their Xometry and non-Xometry work. A centralized project management and payment solution, Workcenter brings together everything suppliers love about Xometry, like the popular Job Board and financial services, into one easy-to-use system. With Workcenter, store owners can create and manage workflows for all of their projects, including those of non-Xometry customers; cite new projects from Xometry and Thomas; assign tasks to team members and track the status of projects. Workcenter is both robust and flexible enough to help small and midsize manufacturers make the much-needed leap to digital. Workcenter also helps suppliers take advantage of accelerated payment terms so they can continue to grow. Workcenter will be available for free at Workcenter.Xometry.com starting tomorrow.

Additionally, Altschuler noted that Xometry will open the API-enabled Workcenter to third-party developers, establishing Workcenter as an emerging platform for innovators looking to deliver an ecosystem of interconnected solutions for vendors.

“Recent global events have underscored the need for the vital role Xometry plays in the rapid digital transformation of the manufacturing industry, from the sourcing process to the shop floor,” noted Altschuler. “With our vast and growing supplier network, an expanding set of manufacturing capabilities, and new software to integrate with our customers’ internal systems, Xometry is an enterprise-scale solution. We work across the entire supply chain and are tightly integrated with purchasing managers, buyers and engineers on the one hand, and thousands of manufacturers on the other.

“We are rapidly evolving to become the technology solution driving the efficiency of the $2.4 trillion manufacturing industry, and we are becoming the de facto rails through which buyers purchase services and the thousands of small and medium suppliers to across the country deliver it,” added Altschuler. “With our new integrated industrial buying engine and work center offerings, we are leveraging the strategic acquisition of Thomas with the power of our AI-based Xometry marketplace and instant quote capabilities to hold our promise of advanced technological solutions benefiting buyers and suppliers. The new products align with our mission to champion manufacturing, the backbone of our economy here and abroad.

About Xometry
Xometry (NASDAQ: XMTR) powers the industries of today and tomorrow by connecting people with big ideas to manufacturers who can make them happen. Xometry’s digital marketplace provides manufacturers with the essential resources they need to grow their business while enabling buyers from Fortune 1000 companies to easily tap into global manufacturing capacity and build resilient supply chains locally. . Learn more about www.xometry.com or follow @xometry.

Media Contact:
Matthew Hutchison
[email protected]

Investor contacts:
Shawn Milne
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f4802b89-0293-492c-8883-60c22e988ae7

Source: Xometry, Inc. via GLOBE NEWSWIRE

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