Jordan K. Speer | April 28, 2020
The coronavirus has dealt a stunning blow to supply chains, logistics and fulfillment, shutting businesses and economies down and revealing many of the vulnerabilities they contain. Like other epidemics and pandemics, but unlike most other disasters we commonly encounter (earthquakes, floods, tsunamis, fires, political unrest) that involve physical destruction of buildings and infrastructure, COVID-19 has wreaked havoc on supply chains because it has knocked people out of the game. Factories, warehouses, fulfillment centers, vehicles and roads are not under water or caved in on themselves. They are withstanding COVID-19 just fine.
Meanwhile, hundreds of thousands of people are falling ill globally, social distancing is the rule of the day and most non-essential businesses are temporarily (or permanently) closing their doors. Not surprisingly, consumers, sheltering in place, have quickly ramped up their online shopping. According to a consumer survey conducted by IDC from March 23-31, online shopping is up by 47%, with 35.4% expecting to spend more on retail, whether in store or online, because of COVID-19 concerns. Moreover, fears of scarcity as well as the ability to acquire goods are likely what’s behind a significant increase in bulk buying that goes well beyond toilet paper. Overall, 55.8% of consumers are loading up or expect to load up on bulk quantities of goods.
Xometry | February 10, 2021
Xometry is known for the largest U.S. marketplace. It is for custom manufacturing. Xometry recently released Xometry Pay. It is a new suite of payment for products. It will allow machine shops and custom manufacturers to accept credit cards and offer payment terms for their customers. The product is now available to manufacturers currently in Xometry's network as well as the broader manufacturing community.
The news continues with Xometry's success. The sucess is gained through a strong build of a network of small- and medium-sized manufacturers and deliver work through the AI-driven platform. Randy Altschuler, Xometry CEO mentioned Xometry Pay represents the expansion of its offerings. It has now become the destination for small manufacturers to improve their business. Xometry will manage predictable payment terms for all its customers in the future.
Xometry released two tools—Xometry Advanced Card and FastPay. These would enhance cash flow with higher flexibility. With Xometry Pay, any manufacturer can use these services on any job. This includes 30% payment in advance at the start of the job. And the remaining payment net-30 includes accelerated payment options if required.
Manufacturers and their customers can start using these services after following a process. This involves filling out a simple online registration form. Thus, Xometry is offering a free 90-day introductory period to encourage custom manufacturers. So that manufacturers can make use of this platform whenever required.
Xometry is the leading marketplace for custom manufacturing and connecting customers. It owns optimal manufacturing solutions. The company works through proprietary AI algorithms. Xometry is also providing on-demand manufacturing and industrial supply materials. It tries to the diverse customer base, ranging from start-ups to Fortune 100 companies. The list includes Dell Technologies, BMW, Bosch, General Electric, and NASA. Its nationwide network of supplier manufacturing maintains consistency and leads. This includes 3D printing, CNC machining, injection molding, sheet metal fabrication, and urethane casting. Xometry also offers an array of financing solutions. These help manufacturers to improve cash flow and promises for better growth.
Oragenics, Avid Bioservices | August 21, 2020
Oragenics, Inc. and Avid Bioservices, Inc., today announced that the companies have entered into a process development and drug substance manufacturing agreement. Under terms of the agreement, Avid will provide Oragenics with analytical method development, process development and drug substance manufacturing services to support development of Oragenics’ novel SARS CoV-2 (COVID-19) spike protein vaccine candidate, Terra CoV-2.
Avid and Oragenics will immediately commence the initial phase of the project, which includes analytical method feasibility and qualification activities. Following completion of these initial activities the companies plan to advance to upstream and downstream process development and CGMP drug substance manufacturing of Terra CoV-2 within Avid’s state-of-the-art Myford facility. These activities are designed to support Oragenics’ goal of advancing its Terra CoV-2 vaccine candidate into human clinical trials by early 2021.