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Business-to-Business e-Commerce for the Metal Casting Industry

Source: www.buycastings.com
Topic: Metal Industry

Sort Desciption: Also according to Goldman, Sachs & Co. the metals industry is one of the leading. industries capable of increasing the bottom-line 22% due to e-commerce, ...

Content Inside: Business-to-Business e-Commerce for the Metal Casting Industry By Neil Chaudhry and Bob Dzugan, buyCASTINGS.com Inc. Dayton, Ohio, USA (August 5, 2002) “We are at the start of a business-to-business e-commerce revolution that will unfold over the next 10 to 15 years and the process of businesses buying from and selling to each other will be totally automated,” according to Steve Harmon, an Internet Analyst in an interview with Business Week, February 7, 2000. This was the vision at the peak of the Internet bubble. The reality today is as good or better in some ways and modified in other ways. The e-Commerce numbers are actually better than projected and it’s not all about automation, it’s about collaboration. Total sales using B2B e-commerce have gone up exponentially from zero a few years ago to $114 billion by late 1999, to over $820B in 2002 according to Goldman, Sachs & Co. Also according to Goldman, Sachs & Co. the metals industry is one of the leading industries capable of increasing the bottom-line 22% due to e-commerce, versus an industry average 12.5%. (Figure 1) More recently, based on 2001 Gartner Data Research (3/2001), the actual B2B E-Commerce numbers are higher than those projected in the 1999-2000 studies. Despite the manufacturing recession, and the .com crash the Internet use by businesses to cut costs and become more efficient continues to grow rapidly! The Latest Outlook on the e-Commerce Industry • Over $820 B in B2B Revenues this year (2002) • A 74% increase over last year • This is still less than 2% of all business • Others Predict Higher -Forrester $2.1 Trillion -Gartner $1.9 Trillion -Morgan Stanley $1.4 Trillion If You are Sitting Still, You are Missing The Competitive Boat U.S. and U.K. tech buyers are more optimistic about techspending than their German counterparts, according to a study by United Business Medias Roper NOP Technology Group and CMP Media. For 2002, both U.S. and U.K. decis ...

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