How B2B procurement is beneficial ?
Updated: Jul 15, 2020
Reducing the gap between buyer and seller
Do you know what B2B stands for ? B2B stands for Business to Business. B2B marketplace is a virtual trading environment, focused on the exchange of value between buyers and suppliers , eliminating the middlemen and the creation of new sales channels.It is very beneficial for those wishing to connect with a variety of suppliers. Backed with cutting-edge artificial intelligence-based data cleansing and classifying technology, B2B creates a purchasing Platform that has more than just a transactional B2B marketplace on the menu.
Listed below are some of the benefits of B2B procurement….
Benefit 1 : Lower price
The quantities involved in the business to business trade are very large . Moreover all the middlemen are eliminated because the major objective of the Business to business trade is to bridge the gap between buyer and seller . Hence this trade is economic in nature. Moreover price negotiation is also there which allows inside sales representatives to contact with their buyers over the phone, interact with them, get acquainted with their requirements and, the price, they are best comfortable in paying.
Benefit 2 : Easy Availability
Under B2B trade , the required stock is easily available at the request of the buyer in any quantity and of any quality because the major objective of the business to business trade is to increase the customer base. As a result of which the customer selling out risk is reduced to the minimum level.
Benefit 3 : Wide variety of goods
E-Commerce platform is used under business to business trade which helps to choose your product from a wide range of products . It further helps to tap more business opportunities coming in the way to their success. It helps in Inventory management as well.
Benefit 4 : Minimum transportation cost
When the goods are sent in high quantity then the number of orders per customer is reduced which further results in reduction of the transportation and shipping cost . These cost plays an important role in the pricing of the product as these are very crucial factors while deciding the price of the product
Benefit 5 : Environmental benefits
The world creates millions of tons of goods packaging every year, more than 50% of which is plastic, Add to this fact that only ⅓ of plastic packaging is recycled and we start to realize that packaged grocery is a huge culprit in the plastic pollution problem. Business to business trade is a sustainable alternative as it takes only single-use packaging out of the equation.Eliminating packaging reduces the carbon footprint and less ends up in the landfill and helps to reduce CO2 emissions.
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