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PrenticeHall,20031Chapter6PublicB2BExchangesPrenticeHall,20032LearningObjectivesListthevarioustypesofe-marketplacesDescribeB2BportalsDescribethird-partyexchangesDistinguishbetweene-procurementande-sellingconsortiaDescribethevariousownershipandrevenuemodelsofexchangesDescribethesupportmechanismsofferedbyexchanges,includingauctionsPrenticeHall,20033LearningObjectives(cont.)DescribenetworksofexchangesandexchangemanagementDescribethecriticalsuccessfactorsofexchangesDiscussimplementationanddevelopmentissuesofe-marketplacesandexchangesDescribethemajorsupportservicesofB2BDescribetheextranetanditsroleinsupportingmarketplacesandexchangesPrenticeHall,20034ChemConnect:TheWorldChemicalExchangeTheProblemThousandsofcompaniestraderawandpartiallyprocessedchemicalsandplasticsdailyBeforetheInternetthetradingprocesswasslow,fragmented,ineffective,costlyAsaresult:BuyerspaidtoomuchSellershadhighexpensesIntermediarieswereneededfortosmooththeprocessPrenticeHall,20035ChemConnect(cont.)TheSolutionProvidesfreemembershipintradingmarketplacesandinformationportalsPublicexchangefloorforanonymousbidsCommoditiesfloorforbuyingandexchangingCorporatetradingrooms—privateonlineauctionsUp-to-the-minutemarketinformationLargeelectroniccatalogIndependentintermediaryPrenticeHall,20036ChemConnect(cont.)TheResultsInChemConnecttradingroomscompaniescansaveupto15%injust30minutesofreverseauctionChemConnectisgrowingrapidly,addingmembersandincreasingtradingvolumeeachyearPrenticeHall,20037B2BExchangesPublice-marketplaces(publicexchanges)—tradingvenuesopentoallinterestedparties(sellersandbuyers)andusuallyrunbythirdpartiesExchange—amany-to-manye-marketplace.Alsoknownase-marketplaces,e-markets,andtradingexchangesPrenticeHall,20038B2BExchanges(cont.)Marketmaker—thethird-partythatoperatesanexchange(andinmanycases,alsoownstheexchange)CompaniesthatuseexchangesarepleasedwiththemandplantoincreasethenumberofexchangestheyparticipateTradersexpecttomorethandoublethevalueoftransactionsthattheydothroughtheexchangesPrenticeHall,20039Exhibit6.1TradingCommunities:InformationFlowandAccesstoInformationPrenticeHall,200310ClassificationsofExchangesSystematicsourcing—purchasingdoneinlong-termsupplier-buyerrelationshipsSpotsourcing—unplannedpurchasesmadeastheneedarisesVerticalexchange—anexchangeswhosemembersareinoneindustryorindustrysegmentHorizontalexchange—anexchangesthathandlesmaterialstradedinseveraldifferentindustriesPrenticeHall,200311Exhibit6.2ClassificationsofB2BExchangesPrenticeHall,200312B2BExchangesDynamicpricingOwnershipofexchangesGovernanceOrganizationofexchangesGainsandrisksofB2BexchangeparticipationPrenticeHall,200313DynamicPricingDynamicpricing—arapidmovementofpricesovertime,andpossiblyacrosscustomers,asaresultofsupplyanddemandStockexchangessometimeschangeminutebyminuteAuctionpricesvaryallthetimePrenticeHall,200314DynamicPricing(cont.)Typicalprocessthatresultsindynamicpricinginmostexchanges1.Acompanylistsabidtobuyaproductoranoffertosellone2.Buyersandsellerscanseethebidsandoffers—anonymityisoftenakeyingredientofdynamicpricingPrenticeHall,200315DynamicPricing(cont.)3.Buyersandsellersinteractinrealtimewiththeirownbidsandoffers—jointogethertoobtainavolumediscountprice(grouppurchasing)4.Adealisstruckwhenthereisanexactmatchbetweenabuyerandaselleronprice,volume,andothervariablessuchaslocationorquality5.Thedealisconsummated,andpaymentanddeliveryarearrangedPrenticeHall,200316OwnershipofExchangesAnindustrygiant(IBM’spatentexchangedelphian.com)Aneutralentrepreneur—athird-partyintermediary(ChemConnect.com)Theconsortia(orco-op)—severalindustryplayerssetupanexchange(Covisint.com)PrenticeHall,200317GovernanceExchangesgovernedbyguidelinesandrulesHowtheexchangeoperatesWhattherequirementsaretojointheexchangeWhatfeesareinvolvedWhatrulesneedtobefollowedPrenticeHall,200318Governance(cont.)SecurityandprivacyfordocumentsContracttermsbetweenanexchangeandbuyers/sellersAssurancesthattheexchangeisfairPrenticeHall,200319OrganizationofExchangesMembershipGeneraterevenueTransactionandotherfeesRegistrationfeesAnnualmembershipfeesqualificationprocessdepositmayberequiredLimitssetonhowmucheachmembercantradePrenticeHall,200320OrganizationofExchanges(cont.)SiteaccessandsecurityInformationshouldbecarefullyprotected—competitorscongregateinthesameexchangePreventillegaloffersandbidsListofindividualswhoareauthorizedtorepresenttheparticipatingcompaniesPrenticeHall,200321Exhibit6.3ServicesinExchangesPrenticeHall,200322Exhibit6.4GainsandRisksofB2BExchangesPrenticeHall,200323B2BPortalsB2Bportals—informationportalsforbusinessesThomasregister—facilitatesbusinesstransactionsforMROsAlibaba.comDatabaseReverseauctionsFeaturesandServicesRevenuemodelVortals--B2Bportalsthatfocusonasingleindustryorindustrysegment;“verticalportals”PrenticeHall,200324Third-Party(Trading)ExchangesElectronicintermediariesDonotfavoreithersellersorbuyers—neutralwithoutabuilt-inconstituencyofsellersorbuyerstheyhaveaproblemattractingenoughbuyersandsellerstoattainfinancialviabilityLiquidity—theresultofhavingasufficientnumberofparticipantsinthemar