The Basics

Dec. 21, 2004
Trading exchanges involve more than buying and selling.

What is an exchange? Industry analysts such as AMR Research Inc., Boston, define exchanges as online marketplaces that bring together buyers and suppliers to facilitate real-time transfer of information, money, and goods. Generally an exchange must provide a means for buyers to easily locate and buy products, a way for sellers to showcase their products and sell them effectively, and enough of the right participants to make it worth a company's time to support a presence on the exchange. Many still fall short of delivering on all of the elements for establishing and supporting ongoing trade, says fourthchannel Inc., New Albany, Ohio, a hosted infrastructure provider. As exchanges evolve, expect the following features to be more commonplace: . Electronic collaboration . Supply-chain logistics . Asset management . Virtual-warehousing capabilities . Financial options.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!