E-marketplace  (1 Results)

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an Internet-based environment that brings together business-to-business buyers and sellers so that they can trade more efficiently online.

The key benefits for users of an e-marketplace are reduced purchasing costs, greater flexibility, saved time, better information, and better collaboration. However, the drawbacks include costs in changing procurement processes, cost of applications, set-up, and integration with internal systems, and transaction/subscription fees.

There are three distinct types of e-marketplace: independent, in which public environments seek simply to attract buyers and sellers to trade together; consortium-based, in which sites are established on an industry-wide basis, typically when a number of key buyers in a particular industry get together; and private, in which e-marketplaces are established by a particular organization to manage its purchasing alone.