Chapter 4: B2B E-Commerce – Flashcards
Unlock all answers in this set
Unlock answersquestion
business-to-business e-commerce (B2B EC)
answer
Transactions between businesses conducted electronically over the Internet, extranets, intranets, or private networks; also known as eB2B (electronic B2B) or just B2B.
question
company-centric EC
answer
E-commerce that focuses on a single company's buying needs (many-to-one, or buy-side) or selling needs (one-to-many, or sell side).
question
exchanges (trading communities, trading exchanges)
answer
Many-to-many e-marketplaces, usually owned and run by a third or a consortium, in which many buyers and many sellers meet electronically to trade with each other.
question
public e-marketplaces
answer
Third-party exchanges open to all interested parties (sellers and buyers).
question
online intermediary
answer
An online third party that brokers a transaction online between a buyer and a seller; may be virtual or click-and-mortar.
question
spot buying
answer
The purchase of goods and services as they are needed, usually at prevailing market prices.
question
strategic (systematic) sourcing
answer
Purchases involving long-term contracts that usually are based on private negotiations between sellers and buyers.
question
direct materials
answer
Materials used in the production of a product (e.g., steel in a car or paper in a book).
question
indirect materials
answer
Materials used to support production (e.g., office supplies or light bulbs).
question
MRO (maintenance, repair, and operation)
answer
Indirect materials used in activities that support production.
question
vertical marketplaces
answer
Markets that deal with one industry or industry segment (e.g., steel, chemicals).
question
horizontal marketplaces
answer
Markets that concentrate on a service, material, or a product that is used in all types of industries (e.g., office supplies, PCs).
question
partner relationship management (PRM)
answer
Business strategy that focuses on providing comprehensive quality service to business partners.
question
supplier relationship management (SRM)
answer
A comprehensive approach to managing an enterprise's interactions with the organizations that supply the goods and services it uses.
question
sell-side e-marketplace
answer
A Web-based marketplace in which one company sells to many business buyers from e-catalogs or auctions, frequently over an extranet.
question
buy-side e-marketplace
answer
A corporate-based acquisition site that uses reserve auctions, negotiations, group purchasing, or any other e-procurement method.
question
procurement management
answer
The planning, organizing, and coordinating of all activities relating to purchasing goods and services needed to accomplish the organization's mission.
question
maverick buying
answer
Unplanned purchases of items needed quickly, often at non-prenegotiated higher prices.
question
e-procurement (electronic procurement)
answer
The electronic acquisition of goods and services for organizations via the Internet, EDI, etc.
question
request for quote (RFQ)
answer
The "invitation" to participate in a tendering (bidding) system.
question
internal procurement marketplace
answer
The aggregated catalogs of all approved suppliers combined into a single internal electronic catalog.
question
desktop purchasing
answer
Direct purchasing from internal marketplaces without the approval of supervisors and without the intervention of a procurement department.
question
group purchasing
answer
The aggregation of orders from several buyers into volume purchases so that better prices can be negotiated.
question
bartering exchange
answer
An intermediary that links parties in a barter; a company submits its surplus to the exchange and receives points of credit, which can be used to buy the items that the company needs from other exchange participants.
question
consortium trading exchange (CTE)
answer
An exchange formed and operated by a group of major companies in an industry to provide industry-wide transaction services.
question
dynamic pricing
answer
A rapid movement or prices over time and possibility across customers, as a result of supply and demand matching.
question
B2B portals
answer
Information portals for businesses.
question
vortals
answer
B2B portals that focus on single industry or industry segment; "vertical portals".
question
corporate (enterprise) portal
answer
A major gateway through which employees, business partners, and the public can enter a corporate website.
question
mobile portals
answer
Portals accessible via mobile devices, especially cell phones and PDAs.
question
information portals
answer
Portals that store data and enable users to navigate and query these data.
question
collaborative portals
answer
Portals that allow collaboration.
question
B2B marketing
answer
Marketing by manufacturers and wholesales along the sell-side of the supply chain.
