The machining industry is a complex and multifaceted operational sector, employing thousands of people across Europe and contributing significantly to industrial capability and profitability in the region.
It’s interesting to note that the total value of the European machine tool market is predicted to grow from USD 25.97 billion in 2023 to USD 35.22 billion by 2028.
In fact, the machining industry in Europe is forecast to grow by 3.7% between 2023-2028, highlighting the need for speedier and more frictionless supply chains for machine parts. Smoother and more simple supply processes can be achieved through the introduction and adoption of digital technologies by industrial equipment suppliers.
Machining industry supply issues
Industry experts emphasise that many industrial equipment companies are experiencing frustration when they search for new suppliers, particularly when their usual industrial equipment supplier does not have the specific parts they need or can’t supply within a certain timeframe.
An ideal solution to this issue would be to reduce the time spent searching for suitable industry suppliers through multiple catalogues. Additionally, users could find every machining part or tool that’s required in one place.
This is where B2B marketplaces can digitize your search and simplify the entire process by bringing suppliers and buyers in the machining industry together.
Here are 5 ways a B2B marketplace for machining, like Hectool, empowers machinery parts buyers to find everything they need in one digital platform.
5 ways Hectool saves buyers time and stress
1. Lists more industry suppliers
During our recent marketing research project, we asked buyers what they felt were their priorities for 2024 and beyond. One respondent said:
“Some shortcomings among my suppliers lead me to look for new partners who, as soon as things are going well, become my privileged collaborators. When I feel good, I stay!”
Sometimes, buyers face an uphill battle when their usual supplier doesn’t have an essential part or tool in stock or does not have the part stocked in the first place. Suddenly, there is increasing pressure to find another supplier and secure the required parts as soon as possible.
Unfortunately, this takes an incredible amount of time – the one major thing buyers simply don’t have. Discovering how Hectool is such a time-saving and easy-to-use platform can be a golden opportunity for buyers to get parts straight away without time wasting.
2. Features trusted machine supplier reviews
When you consult a catalogue, you don’t know if the part or tool is still in stock and whether the supplier can be trusted to help you find the right products.
With reviews highlighting the successes of suppliers and the quality of their products on the Hectool platform, you can be reassured that the partner you choose to work with can deliver what you need.
Here, another survey respondent shows how Hectool helps them:
“It’s so simple to have a site that centralizes all the suppliers and their available products in real time.”
Finding proof that your supplier is honest and above board is key to a more seamless supply chain. Research completed in 2023 reveals that 94% of businesses have used an online review to help make a B2B purchasing decision.
Being able to search for suppliers with a selection of positive reviews can speed up the purchasing process to save even more time.
There is also the option to write reviews for suppliers you connect and collaborate with, building even stronger relationships and sharing relationships that work with other buyers. This can also attract more buyers and suppliers to the platform, expanding the pool of great partnerships to tap into for the future.
3. Enables comparison in seconds
It can be tricky and time-consuming to research lots of different suppliers to see which one has the more premium offer to suit your buying needs. Hectool has solved this problem with the 1-click comparison offer.
The 1-click comparison offer ensures your supplier research is super simple and completed in a flash. In the past, you would have to send several emails and make countless phone calls to gain pricing information and then compare between suppliers.
Now with Hectool, this is done in a minute using the 1-click comparison offer. You can compare several suppliers and their information, such as shipping or price, with just one click.
One buyer commented that:
“Experiencing a one-click shopping experience is great, from ease of purchasing to real-time order tracking with historical analysis.”
4. Streamlines processes
It’s not just comparison that’s easier with Hectool. In addition, you can search and select using a whole range of criteria. You can see this in the response made by one of our buyers on Hectool:
“We didn't know that services allowing such a rapid purchase could exist in the sector.”
You’ll find that not only are the price and shipping processes so much simpler, but also administration management, order tracking and online purchasing management are all simplified to support you better.
Another key asset is the ability to see the real-time stock of suppliers so you can guarantee you will get exactly what you need without the disappointment of an item being unavailable. With a few simple clicks you get all of the information, including invoices, you need to complete your inventory.
5. Hectool supports your workflow
This buyer’s reaction to the time, effort and money saved from using Hectool for supplier searches says it all in a nutshell:
“We note that the purchase of products via a digital space can contribute to the profitability of the company since it has a positive impact on our purchasing chains.”
There’s no doubt that using a digital platform which simplifies and streamlines the supplier search with a click of a button can support significant cost and time efficiencies for buyers and their companies.
As the machining industry becomes more digitalized, it’s a proactive step to empower your business and buying processes with everything a digital platform can offer. Being able to save money and time so you easily receive what you need will potentially increase profit margins for both buyers and suppliers.
Hectool – the AI-driven B2B marketplace for industry - delivers on all fronts. Easy and simple machine tools and parts searches to drive productivity and profitability in your business.