Alibaba.com has announced the launch of its new suite of B2B sourcing tools in order to improve procurement efficiency and the sourcing experience of clients. Alibaba.com aims to streamline the purchasing procedure for entrepreneurs in order to design and manage their businesses as efficiently and securely as possible.

The new products were launched during the Co-Create conference and they were developed with the intent to optimise the manner in which company owners and entrepreneurs improve their sourcing and supply chain capabilities in the competitive small-business industry. Following this launch, Alibaba.com aims to meet and address the needs, concerns, preferences, and demands of the business owners and entrepreneurs, while also mitigating their risk. The new feature and product updates include the enhancement to the Request for Quotation (RFQ) tool (which will offer customers predictive sentence completions and image generation so that small company owners can connect quickly and securely with qualified suppliers), the upgraded image search service (which is set to enable shoppers to search for products by image and text, with additional image generation offerings that will help to streamline complex sourcing requirements), as well as smart assistant solution (a personal guide to sourcing that will optimise how owners discover new opportunities, track orders, stay up-to-date on trends, and more).

In addition, Alibaba.com also upgraded its real-time translation tool, offering 17 languages for live video chats with merchants and suppliers, as well as its logistic marketplace, which provides 24/7 live client service and tracking B2B shipment solutions. . Alibaba.com’s recent partnerships Alibaba.com represents a platform for global business-to-business (B2B) ecommerce that provides buyers and suppliers from multiple countries around the world with its suite of services and products.

The company had a couple of partnerships in the last couple of months. According to the PRNewswire, in a survey conducted online in August 2023 in the US by The Harris Poll on behalf of Alibaba.com, among 301 small business owners, the institutions revealed insights on small companies' concerns and challenges regarding the supply chain, business operations, and macro-economic factors. This included information on how small businesses needed to optimise their supply chain in order to stay competitive, how entrepreneurs needed to align with the right partners and collaborators when designing new products, as well as how streamlined payment and logistics capabilities represented the key factor when sourcing tools and services.

In July 2023, the global B2B ecommerce platform signed a Memorandum of Intent (MOI) with the International Trade Centre (ITC) in order to improve the manner in which MSMEs took part in the overall global digital trade. Following this announcement, Alibaba.com and International Trade Centre were set to work together to optimise how small and medium-sized enterprises (SMEs) managed their businesses in developing countries. The partnership focused on many aspects, such as raising their international competitiveness, boosting local employment, accelerating their digital transformation, as well as offering them the possibility to explore opportunities in the global digital trade.

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