E marketplace is a business to business web based venue, where buyers and sellers meet online, generate business leads and conduct business transactions.
What is an E marketplace anyway?
E marketplace is a business to business web based venue, where buyers and sellers meet online, generate business leads and conduct business transactions. The e marketplace features are tailored in a manner so that a large numbers of buyers and suppliers can be serviced as a community. A participant of an E marketplace can be a buyer, a seller or both. Unlike an E distribution portal which is oriented to assist suppliers selling their products or an E procurement system which is focused on buyers solely, an E marketplace is a platform which caters buyers and sellers equally. As a participant of an E marketplace you are able to explore buying and selling opportunities, make sales offers and buy products and services, add products and services to aggregated e catalog and use numerous other value added features.
E marketplaces are tremendously beneficial to all businesses that decide to participate in them. However, the potential benefits that a company can accrue from an E marketplace are directly proportional to the factor how heavily the company uses the offered features of that E marketplace. canada goose bird Naturally, a company that makes e marketplace as its primary sales channel and integrates its sales resources to supply chain solutions of the E marketplace avail more in sales and administrative overhead cost savings, reduced paper work, better customer service, reduced product distribution costs and online sales growth than a seasonal user of the e marketplace.
Revenue Increase from Existing Clients:
Existing clients get faster and easier access to product information, quicker response to their requests, get better customer support and buy products online.
Revenue Increase from Value Added Services:
Once an E marketplace is set as primary sales channel, freed resources can be used to create more value added services for clients. Some of the services that the E marketplace offers also can be utilized to generate more value.
Order Processing Cost:
The supply chain solutions of E marketplace allow sellers to reduce order processing cost significantly. Studies show that cost of processing a purchase order can be reduced from US$ 70 down to US$ 6 only.
Sales and support costs:
By automating sales and customer support processes companies can reduce over head costs over 25 30% easily.
Inventory keeping costs:
Clearer visibility and forecasting ability allow companies considerably reduce inventory keeping costs.
Most executives agree that primary reason why they feel that the companies should participate in E marketplace is its ability to streamline supply chain mechanism. Many inherent inefficiencies of supply chain process can be eliminated thanks to integrated to e marketplaces supply chain solutions.
What sellers have to do in order to participate in E marketplaces and reap numerous benefits that it can provide?
As most of the administrative and operational tasks are done automatically by the e marketplaces, participation in them is not a difficult process.
These are the basic steps that a seller must take to participate in an E marketplace:Registration might be an easy job of filling up a form. It is much better to take some initial preparations before doing this.