Alibaba.com Launches Suite of Next-Gen B2B Sourcing Tools at Co-Create Conference to Boost Procurement Efficiency and Transform the Sourcing Experience
- Alibaba.com unveils new products and enhancements to support small-business owners in B2B sourcing at Co-Create conference
- Smart Assistant tool, upgraded Image Search, and smart enhancements to RFQ improve sourcing efficiency
- Real-time translation and Alibaba.com Logistics Marketplace enhance communication and supply chain management
- Small businesses concerned about supply chain challenges and rising cost of goods
- Survey reveals challenges in finding the right supplier for new products
The platform's biggest in-person event in over 20 years visualizes and inspires the future of B2B sourcing alongside reveal of small-business survey results
As a one-stop platform for B2B sourcing, Alibaba.com is committed to streamlining the buying process for entrepreneurs to create their dream businesses as efficiently as possible. All new products launched during the Co-Create event are intended to help entrepreneurs level up their sourcing and supply chain operations in the increasingly competitive small-business arena.
"We have entered a transformative era of B2B sourcing and business innovation, and two keywords we use to define the new generation of B2B sourcing are efficient and inspirational," said Stephen Kuo, President of Alibaba.com
Product Launches and Platform Enhancements
The new features, products and upgrades to existing Alibaba.com services launching during Co-Create support small-business owners to more freely find inspiration and create new products to enhance and grow their enterprises. They are designed to make the product creation process efficient, fast and barrier-free. New features and upgrades include:
- Smart Assistant tool, which acts as an intuitive personal guide to sourcing that helps small-business owners discover new opportunities, stay up-to-date on trends, seamlessly track orders and more in a single, efficient touchpoint
- Upgraded Image Search to allow buyers to search for products by image and text simultaneously, with additional image generation capabilities helping to streamline complex sourcing requirements
- Smart enhancements to Request for Quotation (RFQ), which power predictive sentence completion and image generation that help small-business owners connect quickly and efficiently with qualified suppliers, allowing them to find the right partners to keep their product competitive
- Real-time translation in 17 languages for live video chats with suppliers, designed to enhance and streamline the process of visually verifying potential partners' capabilities and facilities
- Alibaba.com Logistics Marketplace, which offers 24/7 live customer service and enables tracking of B2B shipments, allowing for better supply chain management and timelier product delivery
Addressing the Needs of Small-Business Owners
Just as small businesses must keep a finger on the pulse of industry trends, Alibaba.com is keen on illuminating the evolving small-business owner sentiment in
- Small businesses must optimize their supply chain to stay competitive: Supply chain and sourcing are on the minds of many business owners. Nearly half (
46% ) have challenges with their supply chain and/or sourcing systems and nearly four in ten (38% ) think the global supply chain outlook will have a negative impact on their business. The supply chain and inventory management issue most concerning for small-business owners and leaders is the rising cost of goods (67% ). - Streamlined payment and logistics offerings are key when sourcing products: The digital sourcing tool that would best meet the needs of small-business owners and leaders creating a new product or product line include safe and easy payments (
34% ) and on-time delivery & package tracking (26% ). Other mentions include money-back policy & easy return (17% ), and after-sale protection (11% ). - Entrepreneurs must align with the right partners when creating new products: More than eight in ten (
83% ) business owners are confident in their ability to create new products, but they face challenges in doing so. The biggest challenges preventing small-business owners and leaders from creating new products, building brands or doing brand upgrades include finding the right supplier for the product (31% ); research, development and design of new products (28% ); and financing orders of the product (27% ).
"At Alibaba.com, we are not just a link in the supply chain – we are dreamers and creators as well. We're reinventing ourselves to become a link in the 'creation chain' for entrepreneurs," added Kuo. "Co-Create is not just an event; it's a way of thinking. It's about working together because we can achieve more together than alone."
Alibaba.com aims to address the concerns of business owners and mitigate their risk with the new products and tool offerings launching at Co-Create. In advancing sourcing solutions, product creation tools, communication options with suppliers and more, Alibaba.com aims to take entrepreneurs to the next level.
For more information on Co-Create, please visit https://cocreate.alibaba.com/. To schedule a press interview, please contact alibaba@finnpartners.com.
About Alibaba.com
Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 190 countries and regions around the world. It is engaged in services covering all aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. Alibaba.com is part of Alibaba International Digital Commerce Group.
About the Research
The research was conducted online in
View original content:SOURCE Alibaba.com
