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Global eXchange Services and ChinaECNet Establish B2B Exchange for Chinas $80 Billion Electronics In

Thursday 18 March 2004 15:24 CET | News

Business Commerce, the Hong Kong subsidiary of Global eXchange Services and ChinaECNet have signed an agreement to jointly develop and establish a B2B electronic transaction exchange, named "e-Hub" by ChinaECNet, to greatly enhance information exchange between original equipment manufacturers (OEMs) in Chinas world-leading electronics industry. Among the countrys most ambitious logistics and procurement exchange platforms, e-Hub will connect Chinese electronics OEMs with other China-based manufacturers as well as international customers and suppliers, employing RosettaNet and XML standards-based technologies. ChinaECNet - the countrys leading digital media and e-commerce network, dedicated to the nations electronic manufacturing industry - is a joint venture between the China Centre for Industry Information Development (under the Ministry of Information Industry), Avnet, Inc. and Global Techmart, Inc. Global eXchange Services operates one of the largest B2B e-commerce networks in the world, managing 1 billion transactions annually for more than 100,000 trading partners. The company provides software, hosted solutions and consulting services to streamline vital supply chain operations for organizations of all sizes around the world and across every major industry. Automating business-critical procurement and supply chain processes, ChinaECNet and Global eXchange Services will jointly establish the e-Hub as a supply chain digitization platform for Chinas electronics industry. e-Hub provides manufacturers and buyers with a standards-based transaction exchange that enables manufacturers to source, purchase and track inventory much more effectively. This increases supply chain efficiencies, reduces expenses and expedites time-to-market for new products. China is the worlds third largest manufacturer of electronics and IT products, and the largest producer of program-controlled telephone switches, mobile phone handsets, and color televisions and monitors. Due to increasing globalization, the electronics industry has been experiencing a dis-aggregation of the supply chain. In response, companies are integrating their supply chain systems and digitizing their inter-enterprise processes in order to increase efficiencies, reduce costs, and create competitive advantage. Under the agreement, Global eXchange Services will supply and service the B2B process integration solutions needed for the operation of the e-Hub, which is based on the newest technology and international standards such as RosettaNet and XML, to provide interoperability with other trading communities worldwide.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce