What is the relevance of e-business solution? How does it help in cutting costs or increasing efficiency?
Electronic business (e-business) is undoubtedly a tool using which any company can significantly reduce its costs and increase efficiency. The level of transparency brought about by e-biz tools help augment the relationship between supply chain partners. Earlier, it used to take a month to complete the monthly financial report. But now it takes only three days to do the same job. Has the company adopted e-business solutions for the supply side of the business process? What was the purpose behind it? We have adopted a component of e-biz tool, in the form of an extranet for suppliers. The prime driver for adopting the supplier extranet was to have improved relationships with our suppliers and, subsequently, improve the supply chain business processes. As a result, we have gained in terms of reduction in inventory carrying. An improvement of around 50 per cent has been achieved in terms of inventory days. How much time and investment was required to adopt e-business solutions? We had spen
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