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General Motors, one of the founders of Covisint, is using the e-marketplace to enable its buying community to dramatically reduce procurement costs Reducing procurement costs The automotive industry has long shown an interest in the potential of e-marketplace technology. With a slowdown in vehicle sales predicted this year due to the softening economy, Ford Motor Company, GM, DaimlerChrysler, Renault, Nissan and Peugeot-Citroen have placed increased pressure on their 150,000 suppliers to trade more transparently and introduce cost efficiencies across the supply chain. GM has taken a lead in this technology and is enabling its buying community to reduce procurement costs through its e-marketplace portal, Covisint (www.covisint.com). The marketplace gives buyers online access to over 400 suppliers and allows users to access other e-marketplaces through the Global Trading Web™, the world's largest business-to-business (B2B) trading community. To operate efficiently, B2B e-marketplaces need to establish liquidity fast. They need many buyers and suppliers from day one. For that to occur, Covisint needed a robust, scalable platform so that it could trade effectively with a large number of suppliers. After evaluating technologies from i2, Ariba and Commerce One, Covisint chose Commerce One to be its technology partner. GM had already had experience of the Commerce One MarketSite platform through another marketplace called GM Trade Exchange. It chose to use MarketSite again and bought Commerce One’s procurement and auction applications, all running on Microsoft’s enterprise platform.
Approximate Word count = 909
Approximate Pages = 3.6
(250 words per page double spaced)
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