ITPEC FE Morning October 2023 Question 73
Which of the following is an explanation of an e-marketplace?
Explanation
Many sellers and buyers meeting in an Internet market and trading directly, without an intermediate distributor — that is an e-marketplace.
An e-marketplace is an electronic trading place on the Internet, typically B to B, where many sellers and many buyers find each other and trade directly. Buyers can compare many suppliers, and sellers reach new customers without going through wholesalers.
Answer (a)
Why not others:
- •(b) — sharing ordering, inventory, sales and logistics information with business partners for overall optimisation from procurement to distribution is SCM
- •(c) — exchanging estimates, orders, shipments and payments between companies electronically in a standardised format is EDI (electronic data interchange)
- •(d) — promoting online to bring customers into a real store is O2O (online to offline)
Key rule: An e-marketplace is many-to-many trading on the Internet; SCM and EDI link a company with partners it already deals with.
Business Industry · AI-written, may contain errors
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