Matchmaking is the latest service being offered by Wal-Mart Stores Inc.
Wal-Mart, through a partnership with Thomas Publishing, is operating a website aimed at matching suppliers looking to source materials and parts with companies that manufacture in the U.S. The database unveiled earlier this month and is being run through Wal-Mart's JUMP -- Jobs in U.S. Manufacturing Portal (walmart-jump.com).
"We know one of the challenges suppliers have shared with us from the beginning is finding raw material and component parts," said Cindi Marsiglio, vice president of U.S. manufacturing for Wal-Mart. "If a supplier is looking for a rivet, and the current supply base can't supply that, this is a great resource."
Wal-Mart soft-launched its JUMP site a year ago and has been adding resources as suppliers express particular needs. One of the most frequent requests was for help locating U.S.-made components and raw materials.
Increasing the amount of American-made products it purchases has been an initiative pushed by Wal-Mart since 2013. The retailer committed then to buy $250 billion worth by 2023.
Thomas Publishing, a privately owned company founded in 1898 as a directory of U.S. manufacturers and now operating as ThomasNet.com, was introduced to Wal-Mart through work the retailer was doing with the Boston Consulting Group. Wal-Mart was looking for ways to improve the services offered through its JUMP site and viewed ThomasNet's database of manufacturers and suppliers as potential resources.
ThomasNet's reputation was a plus for Wal-Mart. The retailer also liked that ThomasNet was willing to make its resources available at no charge for suppliers.
More than 500,000 commercial and industrial suppliers in the U.S. are registered with ThomasNet.com. The site also offers information on 67,000 product and service categories. Suppliers can tailor their searches in a variety of ways, including looking specifically for companies that are owned by minorities or veterans.
"That's a great resource for anybody looking to source in the U.S.," said ThomasNet director of audience development Donna Cicale. "We're really a matchmaker. You've got choices. There are suppliers to be found."
Company profiles are uploaded by individual manufacturers. Vetting companies is up to the suppliers so that they can ensure products are truly U.S. made, Cicale said.
"Like most buyers we speak to, nobody takes any supplier at face value," Cicale said. "The buyer has a responsibility."
This is the first corporate edition of ThomasNet's services. It has an exclusive deal with Wal-Mart through January 2016.
As part of the partnership with Wal-Mart, suppliers can send an unlimited number of requests for information (RFI) to manufacturers when seeking materials or components. ThomasNet staff members handle follow-up calls to make sure the RFIs were received in an attempt to connect the suppliers and manufacturers.
Neither Wal-Mart nor ThomasNet had numbers available on how many users the site had attracted so far. Marsiglio said the JUMP site attracts "hundreds of suppliers who are engaging the portal regularly."
"Activity continues to increase, which tells me the value of the site is increasing," Marsiglio said. "We continue to look for great value to add to it. Hopefully we can continue adding resources that address specific challenges."
Chris Neeley, Made in USA Works executive vice president, said the JUMP portal and the addition of features from ThomasNet have been valuable in his company's consulting role. Suppliers looking to move manufacturing to the U.S. or return operations from overseas need a dependable resource.
Neeley said he discussed the website with a client in Fort Smith that produces goods here but outsources some of the components used in its product.
"For 35 years, the supply chain in America has been broken down due to off-shoring. If we're going to re-shore you've got to rebuild and reconnect the supply chain," Neeley sad. "This is a resource for doing that. Suppliers and manufacturers have access to a network of other companies that can provide components and parts and materials they need to provide U.S. made products. It's vital."
SundayMonday Business on 08/23/2015