PartsBase Launches State-of-the-Art Ecommerce Marketplace, Powered by Oro Inc.
WEST HOLLYWOOD, Calif., March 10, 2023 /PRNewswire/ -- PartsBase, the world's largest B2B online parts locator service for the aviation, aerospace, and defense industries, today announced PartsStore, a state-of-the-art eCommerce marketplace powered by Oro Inc.. The launch of PartsStore was unveiled today at PBEXPO, an innovation-focused aviation trade show that connects the aviation, aerospace, and defense industries with technology and eCommerce providers.
PartsBase's burgeoning aviation network
The world's most comprehensive network of aviation parts and services, PartsBase is utilized by more than 5,000 users every day, ranging from boutique aerospace start-ups to leading global operators and manufacturers. On a monthly basis, between 25,000 and 30,000 users access the platform to search for components, market intel, and aviation repair services, with more than 12 million parts being searched for each year.
Adding 346 new companies operating 800 aircraft in Q3 2022, the PartsBase community is growing fast. To meet the business requirements of this rapidly expanding network ?— requirements that have changed significantly during the COVID-19 pandemic ?— PartsStore aims to provide advanced and powerful capabilities tailored to the specific procurement needs of the aviation industry.
A new marketplace for the aviation industry
The PartsStore marketplace is an innovative digital ecosystem where buyers can connect with providers, discuss their procurement needs, access market pricing information, and complete transactions with confidence. With a focus on specificity, the platform leverages PartsBase's 25 years of industry knowledge, allowing users to easily compare thousands of different products and suppliers based on aviation-specific data (including "condition codes", which relate to a component's airworthiness).
From a seller's perspective, PartsStore's extensive data can be used to track pricing trends and identify demand. With access to PartsBase's ever-expanding community, PartsStore vendors also benefit from a massive, ready-made customer base, potentially saving millions of dollars in advertising, marketing, and other customer acquisition initiatives.
Effortless integratio with Oro
Underpinning PartsBase's new PartsStore platform is OroMarketplace, Oro's sophisticated end-to-end digital marketplace solution.
Recognized in Gartner's 2022 "Market Guide for Marketplace Operation Applications" report, OroMarketplace is the industry's only B2B-first open source marketplace solution, enabling sellers to rapidly implement B2B, B2C, and D2C marketplaces targeting whole sectors and niche industries, such as aviation and aerospace.
With comprehensive out-of-the-box features, PartsStore merchants can achieve a faster time-to-market and effortlessly integrate their marketplace strategies with existing eCommerce solutions and processes. This high level of accessibility is a major asset in the aviation industry, with the complexity of aircraft components often leading to problems around the accuracy of product descriptions and, as a result, the seamlessness of the buying process. Thanks to Oro's robust APIs, PartsStore sellers are able to easily deploy their product catalogs from existing content management systems (CMS) and other eCommerce platforms, greatly reducing the risk of incorrect information being listed.
Catering to different buyer personas
Oro's workflow engine digitizes all processes for PartsStore vendors and clients, with personalized shopping experiences and customized shipping and delivery options. With the aviation industry's wide variety of customer use cases, this ability to cater to diverse buyer personas is critical. All users of PartsStore, from the smallest bespoke manufacturers to the largest international airline operators, are empowered to explore, research, and purchase components, tap into supply and demand data, and glean important insights pertaining to their specific market classifications.
PartsStore will, in the near future, also be adding functionality to help users address one of the aviation industry's most intractable problems: aircraft on ground (AOG). A grounded aircraft in need of repair can cost as much as $150,000 for a delay of only a couple of hours, so it's vital that the requisite parts are sourced and delivered as quickly as possible. Drawing on Oro platform's's customization capabilities, PartsStore will offer a variety of AOG-specific shipping features at checkout, including how quickly and how reliably an item can be delivered.
"The most capable and comprehensive marketplace for the aviation and aerospace industries, PartsStore is a technological revolution," said Rodrigo Garcia, Chief Transformation Officer of PartsBase. "Thanks to Oro's robust and highly flexible features, our platform will adapt as new trends and market requirements emerge, ensuring we're able to meet the evolving needs of our users for many, many years to come."
"We're incredibly excited to be working with PartsBase; a real industry pioneer pushing the envelope in aviation and aerospace digital transformation," said Yoav Kutner, CEO of Oro. "We built OroMarketplace as a distinct solution to cater to unique, complex, and underserved B2B needs. I'm looking forward to collaborating with PartsBase further as we continue to enhance and scale-up their game-changing PartsStore marketplace."
About Oro, Inc.
Oro, Inc. offers a suite of open-source commerce applications: OroCommerce, the B2B eCommerce platform purpose-built for manufacturers, distributors, wholesalers and brands; OroMarketplace, the analyst-recognized marketplace management platform for all business use cases; OroCRM, the industry's most flexible multi-channel CRM solution; and OroPlatform, a streamlined solution for developers of custom business applications. https://oroinc.com/b2b-ecommerce/.
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SOURCE Oro, Inc.