Alternatively, for small-quantity orders of production or nonproduction items, an exchange can bring several small buyers together to take advantage of volume discounts. As mentioned before, some exchanges have started to offer back-end integration to the ERP or billing system, making it easier and cheaper to conduct business. Companies can also use Internet-based technologies for internal communications. The company intranet is a valuable tool for providing information ranging from price lists to details of employee benefits. One of the biggest advantages of intranets is that information can be updated instantaneously, which is especially useful for time-sensitive materials such as price lists and product brochures.
Employees can access the company's intranet site from anywhere in the world using the Internet.
What the future will bring The Internet and e-commerce are changing the way business is conducted in the chemical industry. Customers already expect, and in some cases have begun to demand, electronic transaction capabilities. Many large companies are eliminating paper-based ordering and invoicing systems, and if chemical companies want to do business with them, they will have to adapt to the new methods. As companies are exposed to the electronic way of doing business, they will expect it from all of their suppliers and customers. Chemical companies that want to do business the old-fashioned way may find it hard to compete in the Internet economy.