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An Introduction to Business-To-Business Internet Trades Zhangxi Lin December, 2000 An Introduction to Business-To-Business Internet Trades Zhangxi Lin December, 2000

Outline Electronic Commerce and Internet Technology n Business-to-Business (B 2 B) Models n Peer-to-Peer Outline Electronic Commerce and Internet Technology n Business-to-Business (B 2 B) Models n Peer-to-Peer (P 2 P) E-Commerce n B 2 B Forecasts n

Sources for B 2 B n US Federal Trade Commission n Workshop on B Sources for B 2 B n US Federal Trade Commission n Workshop on B 2 B Electronic Marketplaces (June 29 -30, 2000, 600+ participants, organized from 200+ sources, 30 statements submitted) www. nmm. com n Cnet news n Technews n

Three IT Adoption Waves n n n The first ripple occurred in the 1980 Three IT Adoption Waves n n n The first ripple occurred in the 1980 s, when many businesses reluctantly adopted computing to improve productivity. In the 1990 s, change accelerated when the powerful tide of client/server computing brought new capabilities to businesses, allowing them to compress value chains and expand reach. Today, the third wave, Internet computing, presents a clear set of incentives driving far more rapid adoption than the two previous phases.

Company IT Adoption Company IT Adoption

B 2 B Dictionary n n n n B 2 B, B 2 C B 2 B Dictionary n n n n B 2 B, B 2 C and C 2 C ASP (Application Service Provider) CRM (Customer Relationship Management. An application system. ) EDI (Electronic Data Exchange) Fulfillment (The act of physically getting a product to a buyer) Hosts (e-market makers) Functional Hubs (A way to describe horizontal products and services. )

Five B 2 B Generations EDI (Buyer-centric) n Storefronts (seller-side systems) n Buyer-driven Procurement Five B 2 B Generations EDI (Buyer-centric) n Storefronts (seller-side systems) n Buyer-driven Procurement (Buyerside systems) n Net Markets, Independent or Coalition n Hosted Private Market n

Net Market (4 th Generation) n Net Markets are online intermediaries where many buyers Net Market (4 th Generation) n Net Markets are online intermediaries where many buyers and many sellers can congregate to trade. Net Markets essentially match buyers and sellers using a variety of market mechanisms including auctions, catalogs, and Nasdaq-like exchanges. The first Net Markets were independent entities, often funded by venture capital, which sought to be neutral intermediaries between buyers and sellers.

Net Market Model Net Market Model

Private B 2 B Marketplaces (5 th Generation) n The latest model to emerge Private B 2 B Marketplaces (5 th Generation) n The latest model to emerge has been that of private marketplaces, defined as areas within independent or coalition Net Markets in which specific buyers can interact and trade with designated sellers, or vice versa. Private marketplaces use the technology infrastructure of the Net Market to create essentially direct connections between buyers and sellers. This system saves infrastructure investments for buyers and suppliers and offers additional revenue sources for Net Markets.

Three B 2 B Ownership Models n n n Third-party exchanges, e. g. Ventro Three B 2 B Ownership Models n n n Third-party exchanges, e. g. Ventro and Free. Market Consortia-led exchanges, e. g. Covisint Private/Proprietary exchanges, e. g. Dell n n > 745 B 2 B exchanges have been announced in the first half year of 2000 93% are of the third type

Business Models for B 2 B Intermediaries n Catalog: n n Exchange: n n Business Models for B 2 B Intermediaries n Catalog: n n Exchange: n n Tradex Auction n n Commerce. One and GM’s Trade. Xchange Free. Markets Negotiations

Vertical vs. Horizontal n Hub types: n Vertical (e. g. Vertical. Net, Plastics. Net) Vertical vs. Horizontal n Hub types: n Vertical (e. g. Vertical. Net, Plastics. Net) • Serves a vertical market • Requires industry knowledge and relationships n Horizontal (e. g. MRO. com, Adauction) • Provides same function across industries n Which one will win?

URL’s www. Commerce. One. com n www. Ariba. com n www. Tradex. com n URL’s www. Commerce. One. com n www. Ariba. com n www. Tradex. com n www. Free. Markets. com n www. Vertical. Net. com n www. Plastics. Net. com n

Case 1 - Plastics. Net n n Operator of vertical trade communities for the Case 1 - Plastics. Net n n Operator of vertical trade communities for the plastic industry Founders came from plastics instead of technical background Goes from a BBS to B 2 B communities High-margin transactions: 5— 10% commission

Case 2 - Free. Markets Online Inc. n n n n Pre-select qualified suppliers Case 2 - Free. Markets Online Inc. n n n n Pre-select qualified suppliers Assess, evaluate & short list Conduct global online auctions Helping companies with RFQ for custom components 3000 companies from 45 countries participate in Operates about 70 different vertical industries $7 million in 1998 commissions

Case 3 - Aeroexchange A consortium for 13 airline companies n offers airframe, avionics, Case 3 - Aeroexchange A consortium for 13 airline companies n offers airframe, avionics, maintenance services, and general goods and services n With web-based applications n

Case 4 - Covisint Created by Ford, GM and Diamler. Chrysler n For trading Case 4 - Covisint Created by Ford, GM and Diamler. Chrysler n For trading automobile related goods and services n Attracts 20+ buyers and suppliers, such as Nissan, Renault and BASF. n

Case 5 - Exotar Formed by Boeing, Lockheed Martin, Raytheon and BAE Systems n Case 5 - Exotar Formed by Boeing, Lockheed Martin, Raytheon and BAE Systems n For aerospace and defense industry n

Case 6 - DELL n n Michael Dell started his computer business in 1984 Case 6 - DELL n n Michael Dell started his computer business in 1984 Dell Computer’s growth n n n 1985 1990 1993 1996 – $6 million - $500 million - +40%, but faced operating loss - $7. 8 billion Dell’s direct sell (started in 1997) n n n Order-shipping process 36 hrs vs. regular 75 -100 days Reduced suppliers from 204 in 1992 to 47 13 -day inventory Cash flow cycle reduced to 24 hrs comparing to Gateway 16. 5 days and Compaq 35 days. Direct monitor shipping from suppliers

Efficiencies of B 2 B Electronic Marketplaces n A survey conducted in spring 2000: Efficiencies of B 2 B Electronic Marketplaces n A survey conducted in spring 2000: Only 1% companies are conducting ebusiness through their websites. n 80% B 2 B processes are still manual, and 20% considered automated are actually not yet. n

B 2 B Efficiencies n n n n n Administration costs Search costs New B 2 B Efficiencies n n n n n Administration costs Search costs New markets Maverick purchasing (buying occurs outside the normal channel) Joint purchasing System integration (with the legacy system) Supply chain management (from push marketing to pull marketing) Collaboration (Outsourcing product design), joint channel of distribution Middlemen (the new service particularly for small business)

B 2 B’s Attributes Huge market opportunity n Financially light business model n Scalable B 2 B’s Attributes Huge market opportunity n Financially light business model n Scalable n Acquisition cost effect n Sticky products n Multiple revenue stream n

How B 2 B Companies Make Money? Sales of products n Service and maintenance How B 2 B Companies Make Money? Sales of products n Service and maintenance fee n Transaction fee and listing fee n Advertising n

Peer-to-peer E-Commerce n P 2 P history n n n Napster was set up Peer-to-peer E-Commerce n P 2 P history n n n Napster was set up as a network of PCs with a central server acting as a clearinghouse. It primarily facilitated exchange of MP 3 files and grew to be popular in a very short time. Although Napster has suffered in the lawsuit against its copyright problem, a large number of other P 2 P networks are flourishing without centralized servers. So, no target to be attacked. E. g. Gnutella by Nullsoft, shares all type of information. Freenet by Ian Clarke, is a more efficient decentralized P 2 P platform.

Why P 2 P So Hot? n n n It provides a technology that Why P 2 P So Hot? n n n It provides a technology that allows people search for and retrieve files from individual computers around the world. A June article in Fortune magazine dubbed file sharing “the hot idea of the year, ” alerting investors to a trend that would “revolutionize infotech and reinvigorate the PC industry. ” P 2 P will likely seep into B 2 C and B 2 B ecommerce and fuel demand for the services.

The Power of P 2 P n The key idea of P 2 P The Power of P 2 P n The key idea of P 2 P is decentralization with two characteristics: Load balancing (like distributed cashing) n Effective searching (e. g. Infra. Search) Users are active in P 2 P, while in a typical Internet application users are passive and not provide information to the network. n n

P 2 P in B 2 B n Using P 2 P in B P 2 P in B 2 B n Using P 2 P in B 2 B can avoid problems rooted in the web-based centralized e-market architecture.

Issue for P 2 P in B 2 B Distributed authentication n Confidentiality n Issue for P 2 P in B 2 B Distributed authentication n Confidentiality n Standards n Information asset protection n Peer qualification n B 2 B Services charged for P 2 P n

Key Comments on P 2 P in B 2 B n n n Standards Key Comments on P 2 P in B 2 B n n n Standards are critical How P 2 P drives real value in B 2 B The borderless economy will be accelerated by P 2 P changes the Internet as the Internet changed computing It is difficult to maintain security It is hard to make profit from P 2 P

Will P 2 P Companies Thrive or Die? Optimists: “P 2 P is going Will P 2 P Companies Thrive or Die? Optimists: “P 2 P is going to be the computing paradigm in the future. ” n Detractors: “P 2 P companies will never make good revenue because the essence of file sharing is contrary to file selling and profits. ” n

Online B 2 B Growth n n n Total US B 2 B non-service Online B 2 B Growth n n n Total US B 2 B non-service trade will rise from $11. 5 trillion in 2000 to $15. 1 trillion in 2005. The Internet's share of total US B 2 B trade will soar from 3% in 2000 to 42% in 2005. Internet trade will grow more than 20 times in five years from $336 billion in 2000 to $6. 3 trillion in 2005. In 2004, online trade will represent over 50% of total B 2 B commerce. By 2005, Net Markets will account for 35% of Bto-B online commerce as compared to 2% in 2000.

B 2 B Trade Forecast B 2 B Trade Forecast

Models for Trade Between Buyers and Sellers Models for Trade Between Buyers and Sellers

Net Market Online Trade Penetration, by Industry Net Market Online Trade Penetration, by Industry

Online Trade Forecast: Top Five Industries Online Trade Forecast: Top Five Industries

B-to-B Online Trade Forecast B-to-B Online Trade Forecast

Mapping Online Potential of Industry Segments Mapping Online Potential of Industry Segments

Factors Driving Online Trade Adoption Factors Driving Online Trade Adoption

Stock Price (Commerce One) Stock Price (Commerce One)

New Economy Crisis? Nasdaq Crash Hi-tech Investors lose confidence 90% Dot COMs go bankruptcy New Economy Crisis? Nasdaq Crash Hi-tech Investors lose confidence 90% Dot COMs go bankruptcy VCs Reduce investment Venture capital companies (VC) are hurt

The Future is Brilliant Information Technology will continue to exert profound influence in economy The Future is Brilliant Information Technology will continue to exert profound influence in economy growth n The fluctuation will be finally stabilized. n