WEST HOLLYWOOD, CALIFORNIA., March 10, 2023 /PRNewswire/ — PartsBase, the world’s largest B2B online parts search service for the aerospace and defense industry, today announced PartsStore, a state-of-the-art e-commerce marketplace powered by Oro Inc. The launch of PartsStore was unveiled today at PBEXPOan innovation-focused air show connecting the aerospace, space and defense industries with technology and e-commerce providers.
PartsBase’s growing aviation network
PartsBase is the world’s most comprehensive network of aerospace parts and services and is used by more than 5,000 users every day, ranging from boutique aerospace start-ups to leading global operators and manufacturers. Between 25,000 and 30,000 users access the platform monthly to search for components, market information and aircraft repair services, with more than 12 million parts searched each year.
With 346 new companies operating 800 aircraft in Q3 2022, the PartsBase community is growing rapidly. To meet the business needs of this fast-growing network – needs that have changed significantly during the COVID-19 pandemic – PartsStore aims to provide advanced and powerful functionality tailored to the specific sourcing 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 suppliers, discuss their sourcing needs, access market price information and complete transactions with confidence. With a focus on specificity, the platform leverages PartsBase’s 25 years of industry knowledge and allows users to easily compare thousands of different products and suppliers based on aeronautical-specific data (including “condition codes” relating to a component’s airworthiness).
From a seller’s perspective, PartsStore’s extensive data can be used to track price trends and identify demand. With access to PartsBase’s ever-growing 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 integration 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 that target entire sectors and niche industries, such as aerospace.
With comprehensive out-of-the-box functionality, PartsStore dealers can achieve faster time-to-market and effortlessly integrate their marketplace strategies with existing e-commerce solutions and processes. This high level of accessibility is a major benefit in the aviation industry, as the complexity of aircraft components often leads to problems related to the accuracy of product descriptions, making the purchasing process seamless. Thanks to Oro’s robust APIs, PartsStore sellers can easily serve their product catalogs from existing content management systems (CMS) and other e-commerce platforms, greatly reducing the risk of incorrect information being listed.
Catering to different buyer personas
Oro’s workflow engine digitizes all processes for PartsStore dealers and customers with personalized shopping experiences and customized shipping and delivery options. Given the variety of customer use cases in the aviation industry, this ability to serve diverse buyer personas is critical. All PartsStore users, from the smallest bespoke manufacturers to the largest international airlines, can explore, research and buy components, leverage supply and demand data and gain key insights related to their specific market classifications.
PartsStore will also be adding functionality in the near future to help users tackle one of the airline industry’s most persistent problems: Airplanes Grounded (AOG). A grounded aircraft in need of repair can cost money as much as $150,000 for a delay of just a few hours, so it is important that the required parts are sourced and delivered as quickly as possible. Leveraging the customization capabilities of the Oro platform, PartsStore offers a variety of AOG-specific shipping features at the checkout, including how quickly and reliably an item can be delivered.
“PartsStore is the most powerful and comprehensive marketplace for the aerospace industry and a technological revolution,” he said Rodrigo Garcia, Chief Transformation Officer of PartsBase. “Thanks to Oro’s robust and highly flexible capabilities, our platform adapts to new trends and market demands, ensuring we are able to meet the evolving needs of our users for many, many years to come.”
“We are incredibly excited to be working with PartsBase, a true industry pioneer pushing the boundaries of digital transformation in aerospace,” he said Yoav Kutner, CEO of Oro. “We built OroMarketplace as a standalone solution to address unique, complex and underserved B2B needs. I look forward to continuing to work with PartsBase as we continue to improve and expand their groundbreaking PartsStore marketplace.”
About Oro, Inc.
Oro, Inc. offers a suite of open-source commerce applications: OroCommerce, the B2B e-commerce platform built specifically for manufacturers, retailers, 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/.
SOURCE Oro, Inc.
