January 19, 2001, 12:00 AM

Best Buy Joins Online Exchange

Don Davis

Editor in Chief

Best Buy Co. has become the latest retailer to join the WorldWide Retail Exchange, the Internet business-to-business marketplace founded last month by Kmart, Target, Safeway and various international retailers. The venture's founders says the open marketplace will help retailers and suppliers make business decisions closer to the time of consumer demand, thus reducing costs.

"The open exchange provides an equal opportunity for all participants to benefit from the business process functionality and standardization of information offered within the exchange,'' says Marc D. Gordon, Best Buy's chief information officer.

Best Buy says it will use the exchange for the procurement of merchandise, supplies, equipment, infrastructure and other business-related goods and services from participating suppliers.

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement