January 19, 2001, 12:00 AM

Best Buy Joins Online Exchange

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 powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Puneet Mehta / Mobile Commerce

Keeping the creepiness out of mobile marketing

A mobile marketing expert offers five tips to retailers on how to approach new marketing ...

FPO

Jacques van der Wilt / E-Commerce

How to quickly improve your ROI on Google Shopping

Don’t just track category ROI. Look at ROI by product to maximize profits. Just one ...

Advertisement