E-business is certainly a hot topic of discussion these days, and rightly so. E-business is essentially doing business over the internet, and can provide significant business advantages. However, E-business has significantly different applicability in different industries. It is easier to sell small high-value products like books, or delver electronic content like music over the Internet than, for example - industrial chemicals.
That does not mean that those of us in the process manufacturing industry cannot exploit E-business. If we just look at opportunities for top line growth - revenue enhancement, the process industry can exploit E-business to:
- Provide 24/7 customer service for customers from any location.
- Personalize and customize information to customers and suppliers.
- Implement flexible pricing schemes.
- Implement very efficient funds transfers.
- Aggregating information from various sources.
These are some ideas for enhancing revenues by implementing E-business. There are additional possibilities on the cost reduction side of the business. More to come later...
Synchronous LLC is committed to maintaining a continuing dialogue on operational excellence and best practices for the process manufacturing industry. To pose a question, contribute a best practice, or otherwise add to the dialogue, send a note to RobBaldwin@SynchronousLLC.com . To subscribe to our weekly newsletter send your preferred email contact address to Webmaster@SynchronousLLC.com with SUBSCRIBE in the subject line.
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