B2B eCommerce is an amalgamation of two of the most sought-after services in the twenty-first century – a sales transaction between two businesses. In simple words, if you’re a company selling its products or services to another company, then you’re partaking in a B2B eCommerce transaction. At present, the global business digital commerce market is valued at 6 times that of the B2C (business to consumer) market.
The novel coronavirus pandemic has upended several demand patterns across a wide range of sectors, therefore rendering the traditional forecasting methods to be inaccurate. Depending on the local impact of COVID-19, the economic scenarios to emerge over the next few years are bound to differ by country, government stimulus packages, and other factors. To get real-time visibility into the markets, however, B2B companies should evaluate the information on leading indicators, COVID-specific data, and the competitors.
The sudden trend of digitization, due to the impact of COVID-19, continues to cause changes and disruptions to the status quo of the manufacturing industry. This has made supply chain management more complicated and yet allows manufacturers their biggest opportunities for improvement. Forrester research estimates 17% of all B2B trade will go through eCommerce by 2024. A streamlined supply chain offers several benefits for businesses including cutting costs, simplifying fulfillment logistics, improved customer relationships, and expansion of sales channels.
Integrating effective supply chain management in your eCommerce business might give you several benefits like:
Successful optimization of your supply chain for companies trading internationally means that you can mitigate the most common issues by covering most of the existing blind spots and bringing transparency and automation. Through an online revenue and sales tracking platform, you can maximize communication and transparency thereby ensuring success and profitability.
As you integrate a supply chain automation platform for your B2B eCommerce business, you can populate real-time data that includes (but is not limited to) product details, inventory availability information, real-time delivery and price tracking, among others. This is made possible through a centralized data handling throughout the system that keeps track of data entered in all areas of the interface and compliments it with current statistics , thereby reducing any manual data entry errors.
Timber Exchange is one such cloud-based supply chain management solution that has been created to automate export, import and logistics processes with smart tools covering all steps from inquiry until cargo arrives at POD, saving significant time and resources for the business. It's combining 3 most important areas: supply chain management tools, B2B marketplace and market data hub. To know more, feel free to get in touch with https://www.timber.exchange.
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