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• Basic B2B Concepts
Business-to-business e-commerce (B2B EC)—transactions between businesses conducted electronically over the Internet, extranets, intranets, or private networks; also known as eB2B (electronic B2B) or just B2B
• B2B EC Characteristics
i). Parties to the transaction: Online intermediary—an online third-party that brokers a transaction between a buyer and seller; can be virtual or click-and-mortar; buyers; sellers
ii). Types of transactions
• Spot buying—the purchase of goods and services as they are needed, usually at prevailing market prices
• Strategic sourcing—purchases involving long-term contracts that are usually based on private negotiations between sellers and buyers
iii). Types of materials
• Direct materials—materials used in the production of a product (e.g., steel in a car or paper in a book)
• Indirect materials—materials used to support production (e.g., office supplies or light bulbs)
• MROs (maintenance, repairs, and operations)—indirect materials used in activities that support production
iv). Direction of trade
• Vertical marketplaces—markets that deal with one industry or industry segment (e.g., steel, chemicals).
• Horizontal marketplaces—markets that concentrate on a service or a product that is used in all types of industries (e.g., office supplies, PCs)
Kavungya answered the question on May 9, 2019 at 10:38
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