One after another of the world's largest manufacturers has announced plans to automate its procurement processes using the internet. Companies hope that exchanges will help deliver cost savings and efficiencies on many levels. But to carry out anything more than the most basic of tasks on a trading exchange, most will have to address complex software integration issues.
Exchanges offer a range of services to buyers.
Transacting and payment. Supply chain management functions, such as production line planning. Collaborative design and product life cycle work. Sourcing simply means posting or responding to an offer of supply or a request for quote on a website. This requires minimum integration.