Malaysian International Furniture Fair Marks First Partnership Between UBM and Alibaba’s B2B Unit
March 8, 2016
The 2016 edition of the Malaysian International Furniture Fair (MIFF) ---Southeast Asia's biggest global furniture market - serves as the first pilot event between Alibaba B2B business unit and UBM in their strategic partnership to build the next generation of O2O sourcing experiences.
Alibaba B2B's participation at MIFF 2016 also marks the roll out of the Trade Assurance Program to suppliers outside of China - a program aiming to boost trust between buyers and sellers on cross-border trading and now Malaysian furniture and furnishing manufacturers through MIFF can also participate.
MIFF 2016 is the first UBM and Alibaba B2B Premier Partner Event selected in the pilot program of the O2O collaboration.
For MIFF 2016, Alibaba B2B has created for the first time a specialty membership program which allows international suppliers to enjoy the privileges of the Trade Assurance program.
Within this program, buyers through the Alibaba.com platform can gain protection coverage starting atUS$40,000 from selected MIFF exhibitors should these exhibitors/suppliers fail to meet product quality or shipment time.
MIFF exhibitors in return, gain additional benefits of reliability and expand buyer reach by becoming Alibaba.com Trade Assured members.
"It is an exciting time for Alibaba B2B working with UBM and in particular with the MIFF pilot program," said Yi Qian, Director of Business Development for Alibaba B2B Business Unit.
He added, "Through this partnership we are able to expand the Trade Assurance program to suppliers outside of China. The program helps to enhance trust between buyers and sellers through visualizing the creditability of participating suppliers, and offering assurance for buyers when problems related to product quality and shipments occur."
"Working with Alibaba B2B at MIFF as UBM's first pilot program has proved itself tremendously valuable," said M. Gandhi, managing director of ASEAN Business UBM Asia. "On one hand, MIFF acts as the conduit to help bring Alibaba.com's Trade Assurance program to overseas suppliers and on the other hand we are able to provide truly added value for MIFF exhibitors and buyers."
All attendees to MIFF 2016 can learn more about the UBM and Alibaba B2B collaboration directly onsite at the two parties' main stage booth located on level 2 of PWTC.
Events at the booth include upcomingUBM and Alibaba Premier Partner Events as well as developments of the O2O Solution debuting in July of this year.
Manufacturers and furniture trade buyers can learn more about the benefits of Alibaba.com's Trade Assurance program directly from Alibaba and UBM staff onsite as well as through open seminars covering topics such as Reaching overseas buyers on Alibaba.com and 7 Practical Tips for Starting your Sourcing Journey. I
nteractive "smart glass" visualization of Trade Assurance benefits will also entertain and educate visitors.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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