Robert Metcalfe created the notion that the value of a network grows by the square of the number of participants. To create a consistent set of terms and product descriptions, often using industry-specific translation software. Normalization technology, primarily used by catalog aggregators, requires translating schema or structures in product databases. Platform An architecture that satisfies seed integration capabilities. Price Transparency Situation where both buyer and seller know pricing.
Net markets can eliminate arbitrage situations when only a broker knows the price.
Net markets can result in sellers making more money and buyers paying a lower price since broker margins are reduced. Procurement Hub A MRO procurement marketplace for routine purchases such as office supplies, travel services, or computers needed to run a business but not central to the business's output. A type of horizontal or functional market. Purchasing Hub Buyer-centric mediators that aggregate demand from small buyers to negotiate better terms with large sellers. Invitation to suppliers to bid on supplying products or services that are difficult to describe for a company or public agency.