E-Procurement-in-New-Dimensions

Vertical marketplaces are designed to meet the unique

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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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