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Can Digital B2B Marketplaces Transform The Industrial Machining Industry?

Can Digital B2B Marketplaces Transform The Industrial Machining Industry?

Reinier Molenaar |

Despite the fact that 2023 has reintroduced some stability into the European machining industry, there are still significant challenges complicating operations for many businesses. 

A substantial percentage of machining companies have experienced demanding times, exacerbated by political and economic uncertainty, continuing labour shortages, fluctuating raw material prices and supply chain disruptions. 

Innovation increases productivity

At the 2023 gathering for CECIMO (European Association of Manufacturing Technologies) in Hannover, machine tool industry leaders united together from across the globe to discuss future strategy. 

At a time of profound political and economic uncertainty, the promotion of increased cooperation is imperativeunderlined Dr Heinz Jürgen Prokop, CECIMO's President, in Hannover.T

his conference emphasised the need for improved innovation and for the adoption of digital technologies to help streamline operations to create greater cost and time efficiencies. 

What are current issues facing industrial machining companies?

The strong economic headwinds that are buffeting the industry accentuate more chronic issues that have been affecting machining productivity for a number of years. If you have been in the industry for a while, there is little doubt that you have encountered one of the following scenarios:

The supplier can’t provide an essential part or tool

A CNC machine suddenly breaks down and you need a machine clamp tool change. Your supplier can’t provide the exact tool you need quickly enough, so your industrial machine has to shut down.

The estimated cost for a 48-hour machine shutdown is about 7,500 EUR. This includes the cost of the working teams, the hourly rate of the machine, and the loss of earnings – on average 15,000 EUR per year as a result of 2 emergency clamp changes.

 

Staff retention issues

You can’t find enough experienced employees to successfully complete projects, and your more senior workers are retiring or others are moving on. This can hit machining companies hard as projects may be delayed or postponed, affecting bottom lines. 

Helmet hanging from a crane, in an industrial manufacturing setting

What are industrial machine supplier priorities?

Due to our strong relationships with both suppliers and buyers, we learn a great deal about supplier priorities. Some of these include the need to:

  1. Develop new partnerships to expand business.
  2. Reduce administration and increase inbound enquiries.
  3. Automate for more streamlined operations.

    When you adopt digital solutions that maximise time-saving efficiencies, this helps your teams to focus on key targets and goals.

    How do machine parts buyers want to improve business?

    Buyers are looking for a consistent and smooth supply of tools and parts, with easy access and simple processes to search, select and purchase products they need. Many buyers of machining parts tell us they want:

    1. Tools and parts delivered on time to minimise costly downtime.  
    2. Products that are cost efficient and arrive on the agreed date.
    3. Reduction in search time to find the best suppliers. 
    4. A one stop shop to organise everything they need. 

    An easy-to-use digital B2B marketplace for the machining industry is ideal for both suppliers and buyers to access for product buy and sell. 

     

    Perfect solution: digital B2B industrial machinery marketplace

    Digital B2B machining marketplaces, such as Hectool, transform the ways that buyers and suppliers operate. They can help to reduce time loss, improve efficiency and increase productivity. 

    How Hectool helps suppliers:

    1. Showcase entire catalogues on the platform with a personalised display depicting all prices, stock levels and delivery times. 
    2. Gain more customer views as everything is all in one place. 
    3. Increase customer reviews to help gain popularity and grow trust.
    4. Give staff more time as Hectool cuts administration time. 
    5. Free up employees to complete projects that improve productivity. 
    6. Create a page completely dedicated to special offers or promotions.
    7. Gain access to sales analysis and compare to other suppliers on the platform. 
    8. Discover different approaches to maximise offers. 

    Benefits for buyers:

    1. Compare prices from several suppliers in a few clicks. 
    2. Save time and money through the simplified digital purchasing method. 
    3. Search reviews to find trustworthy suppliers that best match needs. 
    4. Increase solicitations from suppliers with accurate comparisons of different offers through Hectool’s supplier scheme. 
    5. Save administrative time by leveraging continuous information with real-time monitoring of order progress and organised documentation. 
    6. Analysis of your machine tools replacement frequencies that help you anticipate breakages without incurring stock costs.

     

    How can digital B2B platforms help the industrial machinery industry?

    Put simply, digitalisation is such a beneficial aspect in all industries, including the machining parts and tools sector. 

    Digital B2B marketplaces help to streamline procurement, increase efficiencies and facilitate greater connectivity between suppliers and buyers. 

    In addition, digital platforms like Hectool provide a centralised system where organisations can interact, transact and gain access to a wider range of contacts, materials and services.

    It’s true to say that these B2B marketplaces empower businesses with cost savings, faster lead times and increased competition, generating more innovation and productivity across the sector.

    Want to learn more about the benefits your business gains with Hectool? Contact us today for more information.