B2B E-commerce Redefining the Traditional Supply Chains
FREMONT, CA: Today, the rapid growth of the B2B e-commerce market has provided businesses with the opportunity to expand their customer base and increase their sales prospect.
According to Frost and Sullivan, global B2B e-commerce will reach USD 6.7 trillion by 2020 to become twice as large as the B2C market (Frost & Sullivan, 2015).
In such a scenario of rapid evolution, operating a global supply chain is becoming increasingly complex as organizations face a wider range of requirements from trading partners. Today, people are living in a networked economy, seeking rapid, responsive, lean, and agile transportation chains. Owing to this factor, products are no longer pushed by organizations rather pulled by the customers who are less patient but desire more.
But, the traditional systems available are widely based on a push based strategy where the manufacturers produce the goods and forward it without receiving proper feedback.
What can the business leaders do to fulfill the ever-increasing needs of the consumers???
Business leaders are compelled to formulate new supply chain management (SCM) strategies by increasing agility and connectivity of business processes through innovative technologies to receive appropriate response. However, all solution providers cannot offer efficient solutions.
In addition, enterprises are significantly identifying total cost of ownership (TCO) as the single greatest inhibitor of standards adoption for managing B2B operations. Organizations need to proceed by first conducting a rigorous TCO assessment and second, clarifying business benefits to justify or refute technology options. But what are the solutions available that can make this a reality?
Market demands accurate data, and effectual tools that can calculate the total investment required to add additional partners to a business network. But it’s important to find the correct provider for such tools.
One of the easiest ways to ensure a smooth and flawless e-commerce process is to integrate enterprise resource planning (ERP), vendor management system (VMS), and SCM systems. By automating the processes used for sales, support, order tracking, shipping integration, organizations can reduce the likelihood that important information or details will be lost along the process.
Moreover, organizations need to have enough knowledge on the type of IT infrastructure required for them to achieve an IT-enabled supply chain. The IT infrastructures should be accessible, compatible, and user-friendly, which needs to be efficient enough to evolve with the business process changes and organizational objectives.
But are all these modernizations of technology available only in theory or organizations can leverage solutions in reality for their successful business operations.
These are certain questions that arise.
What are the adequate solutions available for effective SCM processes?
What is the importance of TCO in managing business processes effectively?
What are the roles and responsibilities of B2B organizations?
What are the IT infrastructures available that can drive more profits for organizations?
To know more about the current strategies and solutions available, that will adequately guide professionals more towards success in supply chain management for B2B operations read Understanding the total cost of ownership for managing B2B operations