How does it help a supplier?
Enhanced sales: A supplier can now access a wider market and hence increase his revenue.
Lower sales and support costs: with an automated sales and customer support process, one can easily reduce the sale and support cost.
Electronic procurement is the method of conducting transactions between buyers and suppliers over the Internet. An procurement system is an integral part of a B2B marketplace. Tap a wide market of potential buyers and such b2b market place participant companies can build their web store using the same catalogue which offers a good opportunity to target a totally different market segment. This by itself is a unique opportunity as recent studies showed that an increased number of small companies with less than 20 employees are making more than 25 percent of their sales online.
Reach out to potential buyers/purchasers and a new market/niche one
Business to Business market place offers a new sales platform for suppliers to meet prospective buyers and suppliers.
Reduced order processing costs: The cost of processing a purchase order online can be reduced significantly
Inventory cost brought down drastically: It offers a grater forecasting ability and a clearer visibility thus reducing the inventory keeping costs.
Cuts down on overhead costs: with supply chain also streamlined, the overhead costs will be reduced.
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