ChemConnect Unveils New E-Commerce Negotiation Tools and Services.Business Editors/High-Tech Writers DUSSELDORF, Germany and SAN FRANCISCO--(BUSINESS WIRE)-- Oct. 25, 2001 Exchange Floor Innovations Replicate rep·li·cate v. 1. To duplicate, copy, reproduce, or repeat. 2. To reproduce or make an exact copy or copies of genetic material, a cell, or an organism. n. A repetition of an experiment or a procedure. Chemical and Plastics Industries' Business Processes Online; Members Increase Postings, Closing Both Buy-Side and Sell-Side Transactions Even Faster and More Profitably ChemConnect Inc., the company that provides the only end-to-end end-to-end a pattern of anastomosis in which severed ends are matched and united, in contrast with other patterns such as end-to-side or side-to-side. Usually applied to anastomosis of the intestine. e-commerce solution for buyers and sellers of chemicals and plastics worldwide, today unveiled a wide range of new online negotiation tools and services on its Exchange Floor, the global online marketplace with over 7,000 companies as Members. The advanced features and functionality reconfirm re·con·firm tr.v. re·con·firmed, re·con·firm·ing, re·con·firms To confirm again, especially to establish or support more firmly: reconfirmed the reservations. the company's commitment to -- and success in -- replicating Members' daily business processes online. The company reported that participation and active negotiation rates are increasing as Members take advantage of the new buy-side and sell-side e-commerce opportunities. Developed and implemented following extensive consultation with Members, the new tools and services announced today are designed to maximize efficiencies, lower costs, and help Members reach the best market prices, with both new and long-term trading partners. Since the introduction of features, including the ability to post requests for quotes, proposals and new suppliers, easy messaging capabilities, and expanded company identification options, active negotiations have more than tripled. ChemConnect also revamped its Exchange Floor pricing model, introducing tiered levels of subscription pricing that allow companies unlimited access to the Exchange Floor for a specified period of time. Among major companies signing subscriptions for unlimited access are BASF AG BASF AG German chemical and plastics manufacturing company. Founded in 1865, BASF (the full German name means “Baden Aniline and Soda Factory”) was part of the chemical cartel IG Farben from 1925 until 1945, when the latter was dissolved by the Allies. and DSM 1. DSM - Data Structure Manager. An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output. . "We are sure that ChemConnect's Exchange Floor and their auction tools will accelerate and support the realization of DSM's goals to ensure, that within a few years, a significant percentage of our sales and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. is being accomplished online as articulated ar·tic·u·la·ted adj. Characterized by or having articulations; jointed. by our CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Peter Elverding," said Miel de Vos De Vos. For persons thus named, use Vos. , Purchasing Manager A Purchasing Manager is an employee within a company, business or other organization who is responsible at some level for buying or approving the acquisition of goods and services needed by the company. Chemicals and Raw Materials of DSM. "An immediate value to us has been the ease with which we are able to extend our supplier base and the communication with potential new suppliers." "One of the new features that really helps us with our online negotiations is knowing which companies are bidding on our business," said Mrs. Diana Moussa, coordinator for ChemConnect issues in the Raw Materials Purchasing Department Noun 1. purchasing department - the division of a business that is responsible for purchases business department - a division of a business firm of BASF AG. "By the same token, we want companies to know who we are when we post our buy and sell opportunities. ChemConnect understood our needs and made the changes. As a result, we've increased our use of the Exchange Floor over the past three months." "We're using the improved functionality to move faster to take advantage of new suppliers in emerging markets," she added. "Being able to post requests for new suppliers, along with RFIs, and RFQs on the Exchange Floor, we're able to source new markets with greater certainty and leverage connections to get the best competitive price much faster than was previously possible." "We listened to our Members and acted according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. their wishes," said John Robinson Several notable individuals have been named John Robinson: Politicians
Innovations, Tools, and Opportunities New features on ChemConnect's Exchange Floor, which are designed to speed and optimize optimize - optimisation online negotiations, more closely replicate daily business processes for chemicals and plastics buyers and sellers: -- Non-anonymous negotiation: Companies initiating activity (hosts) have the option to identify themselves online. The hosts always know the identity of any bidder with whom they're negotiating, and the identities of individual bidders remain unknown to all other Members, including other bidders. -- Automated Request for Quotes (RFQ): Wider online RFQ capabilities include the option to limit negotiations to targeted companies the Members already do business with, or open negotiations to all ChemConnect's 7,000 Member companies. RFQ options include criteria such as volume rebates and price caps. -- Online account management: Users manage their personal contact lists for RFQ distribution, review their historical ChemConnect activity, and store and attach documents -- including expanded product information, financial terms and conditions, and logistics information -- right online at ChemConnect. -- Product branding: Sellers have the option to identify their product's brand name in their posting or bid to differentiate it from other companies' products. -- Request for New Suppliers: Allows companies to announce their interest in finding new suppliers for products. -- Private negotiation: Once a host and bidder enter into negotiations, all communication between the two parties becomes private thereby limiting price transparency. Other bidders see only the host's initial activity (posting) and original bids submitted. And, with an easy messaging tool, the host and bidder can send private messages to each other online -- recording all the communications between each other. About ChemConnect ChemConnect, Inc. provides the only end-to-end e-commerce solution for buyers and sellers of chemicals and plastics worldwide. At the front end of the transaction cycle, Members work with ChemConnect to develop effective sourcing and sales plans. To facilitate fast and effective transactions, ChemConnect offers the broadest set of online negotiation tools; each designed to meet particular business requirements. ChemConnect's tools makes it easy for its Members to negotiate with their existing partners as well as establish valuable new relationships. At the back end of the transaction cycle, ChemConnect provides a single point of contact for order fulfillment Order fulfillment (in BE also: order fulfilment) is in the most general sense the complete process from point of sales inquiry to delivery of a product to the customer. Sometimes Order fulfillment , logistics, invoicing in·voice n. 1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill. 2. The goods or services itemized in an invoice. tr.v. , and the monitoring and tracking of transactions. For more information visit www.chemconnect.com. Note to Editors -- ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners. |
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