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Unformatted text preview: rvices that have become increasingly
important in today’s economy –– information technology, shipping,
management consulting, and others. • Vertical marketplaces are designed to meet the unique needs of particular
industries – plastics, high-tech, and automotive to name a few. Here, you can
access information and pricing from suppliers of resins, integrated circuits,
castings, and a broad range of other parts and components used extensively in
your specific industry. Exchanges have also developed to cover excess
inventory, used equipment, and other items and types of transactions that
historically have been particularly inefficient or time-consuming. The primary e-procurement benefit of these marketplaces is that they facilitate much easier
comparison shopping. The substantial legwork that used to be required to identify potential
new suppliers, understand what they offer and obtain price quotations from them now can
often occur in a matter of minutes. In an increasingly global economy, it has become more
and more important for companies to find and use appropriate supplier...
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- Spring '08