B2b in Vogue
Many of those who are not compute literate are not aware of the disadvantage they are going through in life. They just do not know how much the technology has developed through internet and miracles do happen. One of the great developments is B2B in e-commerce. B2B stand for business to business communications. It may be defined as the happening transactions of goods and services between businesses. It is also far more complex than B2C applications because there are more than one decision makers on the buyer's side.
The plus point of B2B over B2C is that it can cover marketing activities of marketing between businesses, and not just the ultimate transaction that result from marketing. For e.g. a chicken feed making company would sell it to another company i.e. chicken farm, instead of selling directly to consumers. So between trading partners, it typically takes the automated process. An example of B2C transaction would be a grain fed chicken sold to the consumer directly. So, not only does B2B encompass final transactions that are a result of marketing, but also it encompasses the marketing activities between businesses.
When talked about global sourcing, China prides itself for being the best global sourcing destination as it is honored as the number one global source destination in the world since 2005. Falling under the quota-free categories, China's import and export in garments and apparels have accelerated by 55%. Because of Chinese B2B expansion across continents, the restrictions which were put earlier are also being relaxed gradually.
One of the prominent well known and reputable standards of B2B is UN/EDIFACT whereas ANSI ASC X12 is a famous standard in North America. In the high tech industry, a standard named Rosetta Net which is XML based is an up-and-coming B2B standard.B2B is quite popular because of its global appeal i.e. people around the globe can make use of the business. Also, it's opened 24/7. So it's very convenient for customers and sellers, thus producing a great profit for the company. Business to business negotiations are being accepted by global sourcing and B2B communities. The value of American global sourcing has risen because of one major thing. It has increased because they had made federal efforts to eliminate bottlenecks to import and export in B2B section.
Though B2B is known to be having a very good service, yet, there are some security issues too which come in the disadvantages section of B2B. There are various threats from hackers. Also, viruses pose a threat to privacy of consumers, thus resulting into consumers shying away from making transactions through B2B. Still, B2B has managed to earn a very good name in the market. Such is the specialty of B2B in the world all over.
Related Tags: b2b, business to business, global sourcing, import and export
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