Savvy companies understand these distinctions and are deploying extranets to exploit them. Manufacturing Manufacturers are using extranets to automate supply chains, improve inventory management, optimize processes, and speed response time. One company is using an extranet to outsource all component manufacturing. Suppliers can securely connect to supply-chain management, ERP, Messaging, NetMeeting, and CAD applications over the Internet. They can check real-time component stocking levels and take appropriate action to replenish them.
Engineers can discuss design changes with component manufacturers during a secure Internet meeting.
They can securely access and download new designs and immediately implement changes. The traders can easily access the firm's trading and portfolio management applications and proprietary market research. Clients get faster, more accurate trades. Traders get more business from their clients, and the brokerage firm gets more business from the traders. By replacing its manual trading process with an extranet, the firm is able to retain high-value customers, expand its customer base, increase revenue from trading fees, improve the quality and accuracy of trades, and generate new revenue opportunities.