Keys to establishing successful B2B marketplace

What, exactly, is a B2B marketplace? A B2B marketplace operates as a virtual platform for facilitating knowledge sharing, collaborative decision making, and plan execution across a given supply network. To achieve all these objectives, the B2B marketplace must provide not only a Web-based channel for information exchange but also fully hosted tools or “services” for collaborative analysis, planning, design, modeling, and scheduling of production, supply and logistics.

Such Web-based services would enable organizations to develop design, fulfillment, and service strategies that organize the entire supply chain to quickly and effectively respond to customer requirements at the lowest total cost.

How to establish a successful B2B platform?

A B2B marketplace is sure to achieve success if it bears in mind certain key points. This e-business marketplace should support manufacturers and suppliers to collaborate on the design and development of new products. Thus the emarket platform must not only provide a channel for the exchange of drawings and design parameters but also deliver tools for developing and testing the viability of new designs.

Such tight collaboration would speed product-development cycles, reduce product redesigns and foster innovation. The ability to deliver accurate, timely, and relevant information is vital to the success of any B2B marketplace as well as the success of its participants. The e Market must provide not only a channel to acquire data but also the necessary tools for participants to transform transactional, cost, planning and other business data into the relevant marketplace intelligence required to respond to customer needs in an optimal manner.

Thus, a key component of any e-business Marketplace will be the delivery of sophisticated reporting, planning and analysis tools that can enable strategic analysis as well as proactive monitoring of marketplace activities. The B2B platform is also expected to support multiple user models like virtual catalogs, auctions and exchanges.

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