Disintermediation of traditional chemical intermediary roles in the Electronic Business-to-Business (e-B2B) exchange world

The traditional chemical distribution industry is a multi-billion dollar business and with the introduction of Electronic Business-to-Business (e-B2B) exchanges to the global chemical industry there is some concern about the future roles of traditional intermediaries (TI). The objectives of this research paper are to investigate the possibility of disintermediation of roles of TI by e-B2B exchanges and to identify the value adding role of TI as perceived by chemical distributors and buyers. If these value adding roles may be the key to future survival for TI in the marketplace. International data collected from e-B2B exchanges, chemical distributors and buyers are used. Content analysis of e-B2B exchanges was conducted while survey questionnaires were used for distributors and buyers using a cross-sectional approach. The research shows that whilst the e-B2B exchanges have a role to play in the chemical supply chain management there were still sub-functions which the buyers viewed that the TI could offer to them. So the supplier-buyer relationships could be maintained between the buyers and the TI, at least for the time being, until newer business models of e-B2B exchanges begins to compete with the TI's to offer these sub-functions. The research holds valuable implications for TI in the chemical industry regarding the need for differentiation with a view building new competences to survive the encroachment of their traditional business base by e-B2B exchanges. The impact of e-B2B exchanges on TI in the chemical industry has not previously been studied in-depth. This paper provides new knowledge and makes a contribution by providing evidence of evolution in the chemical distribution channels. © 2010 Elsevier B.V. All rights reserved

Business-to-business marketplaces for freight transportation

Thesis (M.Eng.)--Massachusetts Institute of Technology, Engineering Systems Division, 2000.Includes bibliographical references (leaves 52-54).Business-to-business (B2B) marketplaces bring together buyers and sellers in different industries using the Internet to conduct or facilitate business transactions. Among these new intermediaries or "infomediaries" are several firms that address spot market transactions and long-term contract negotiations for truckload, airfreight, ocean and intermodal shipments. Most of the initial activity in freight transportation has focused on the highly fragmented truckload sector. Currently, none of these firms process enough shipments to constitute critical mass or a self-sustaining business model. Without liquidity, B2B marketplaces that rely solely on an exchange cannot present a viable alternative to existing transportation intermediaries, such as brokers and forwarders, since shippers' orders cannot be frequently matched with carriers' capacity. Channel mix and domain expertise are the critical strategic mobility barriers for B2B marketplaces. Firms must make strategic decisions early about whether to include or exclude existing intermediaries and also how carriers' direct sales forces may be displaced. The service offering must either reinforce or replace the basic functions of intermediaries. Technology leadership in applications critical to shippers (e.g., shipment consolidation, mode selection and combinatorial bidding) is a proxy for domain expertise and will largely determine a company's ability to differentiate its offerings and form a broad versus narrow line. Shippers will receive the greatest benefit from B2B marketplaces and Internet-based transportation management systems present the best opportunity for value creation. This research examines indirect channels for freight transportation and the specific functions performed by existing intermediaries. Trading models are categorized and four case studies of truckload marketplaces are presented. Frameworks are provided for channel structure and strategic groupings.by Marc D. Boyle.M.Eng

The Internet and the Future of Financial Services: Transparency, Differential Pricing and Disintermediation

The Internet has had a profound effect on the financial service sector, dramatically changing the cost and capabilities for marketing, distributing and servicing financial products and enabling new types of products and services to be developed. This is especially true for retail financial services where widespread adoption of the Internet, the standardization provided by the world-wide web, and the low cost of Internet communications and transactions have made it possible to reach customers electronically in ways that were prohibitively costly even 5 years ago; indeed, pre-Internet attempts at the online distribution of retail financial services were outright failures in the mid-1980s. The concurrent growth and de-facto standardization of Internet-enabled personal financial management software (e.g., Quicken and Microsoft Money) have also contributed to an increasing array of low cost and potentially richer ways to provide information and transaction services to customers. The growth in Internet-enabled products and service has been rapid in some sectors and slower in others. Retail brokerage has seen a dramatic change with more than 15% (Salomon Smith Barney, 2000) of brokerage assets now managed in on-line trading counts, and substantially more if "traditional" brokerage accounts and mutual funds with on-line access are included. Similarly, approximately 10 million US customers currently use on-line banking (O'Brien, 2000) and 39 of the top 100 banks offer fully functional internet banking (ePayNews, 2000). Many banks and brokerages are on their second or third release of their on-line delivery platform. Credit cards, while not radically transformed in operational aspects of the business, have begun to have some volume of new origination on-line. In addition, leading credit card companies such as Capital One Financial have been some of the largest "traditional" companies in the use of Internet advertising (see www.adrelevance.com, 1999). More regulated and complex financial products such as mortgages and insurance have had some origination volume on the Internet (an estimated $17Bn of mortgages will be originated and ~$400mm in insurance premiums will be sold online in 2000). For these sectors, the adoption of on-line origination has been much slower and concentrated in entrants, rather than incumbent firms. However, despite the small level of originations, the Internet has become a significant and growing source of product information - it is estimated that about 10% of insurance customers and 15% of mortgage customers have used the internet to shop for these products (Forrester, 1998; McVey, 2000). This may ultimately affect product purchase and pricing structure, irrespective of the delivery channel. Internet companies have also played a role in many other segments of the industry such as financial information and news, rating and comparison services, and even some areas where one might think the Internet would have a less significant role, such as financial planning and investment banking. While the continued growth rates are uncertain and the penetration for the more complex products has not yet been shown to be widespread, it is safe to conclude that the Internet will play a significant role in consumer financial services for a large subset of customers, and that this role will be significantly different across different sub-sectors of the financial industry. In discussions of the Internet impact on the financial services sector, the emphasis has often been placed on the direct cost-saving effects of using the Internet to provide transaction services. These potential cost savings are indeed significant and in the long term may lead to significant creation of value. However, there also substantial barriers to realizing much of this value. In some industries, such as the credit card industry, many of the potential gains from automation have already been realized, and in others, the gains may be concentrated in only a few areas of the value chain. For products which are sold through branches or agents (banking, mortgage and insurance), realization of cost savings will require a difficult and time consuming redesign of the retail delivery system. Finally, many of these efficiencies are accompanied by improved customer convenience. To the extent that consumers respond by consuming more services, particularly those that generate costs but not revenue, overall costs may not be substantially reduced. This has been the experience of previous innovations in retail financial service delivery such as automated teller machines (ATMs). Computers, and more recently the Internet, are best described as "general purpose technologies" (Brynjolfsson and Hitt, 2000), like the electric motor or the telegraph (Bresnehan and Trajtenberg, 1995). For general purpose technologies, most of the economic value they create is associated with their ability to enable complementary innovations in organization, market structure, and products and services. However, at the same time, these complementary changes are often disruptive to the existing structure of an industry (Tushman and Anderson, 1986; Bower and Christensen, 1995), leading to significant redistribution of value among industry participants and between producers and consumers. To understand the true impact of the Internet on the financial service industry, it is therefore necessary to identify how the Internet affects the critical drivers of industry structure, and how it enables or necessitates changes in products and services. This will necessarily be difficult, as it is hard to isolate the contribution of the Internet separately from the effects of other complementary innovations, and to distinguish Internet effects from other of long-term industry trends and exogenous factors. While obtaining precise numerical estimates of the productivity effects will be hard, in many cases the direction and general magnitude of the impact on productivity, profitability and consumer surplus (consumer value) will be clear. We see three principal issues that will determine the transformation of retail financial services: Transparency, or the ability of all market participants to determine the available range of prices for financial instruments and financial services; Differential pricing, in which finer and finer distinctions must be made among groups of customers, setting their prices based upon the revenue streams they generate, the costs to serve them, and their resulting profitability; Disintermediation or bypass, in which net-based direct interaction eliminates the role previously enjoyed by financial advisors, retail stock brokers, and insurance agents. Each of these will affect the roles to be played by financial service providers, the sources of profits available to them, and the strategies they may choose to pursue in order to earn those profits. However, different financial products will be affected differently by each of these issues in both the nature and the magnitude of the effect. In addition, these factors are often interdependent - for example, differential pricing is often a necessary response to increasing price transparency to prevent erosion of margins, and the ability to deliver sophisticated (although typically not complex) pricing strategies to customers may be affected by the incentives and structure of the distribution system. For these reasons, we will organize the remainder of the paper around the discussion of these effects as they apply within different sectors in financial services. The emphasis of our analysis will be on the primary sectors in retail financial services: credit cards, deposit banking, mortgages, brokerage, and insurance. Our focus is the retail segment because it has been the most radically transformed by the Internet to date, primarily because the retail business has the most to benefit from the reduction in customer interaction costs, the ability to reach mass markets, and the reduction in the role of geography in determining the strategies of financial services providers. Much of the computing- and communications-enabled transformation in the relationships among financial institutions or between financial institutions and consumers of wholesale financial services (for example, brokerage houses and exchanges, or large firms and their commercial lenders) have already occurred or were well underway before the Internet was commercialized. For these markets, the economics of computing and networking were still favorable under previous generations of technology. Many of the commercial financial services that are likely to be transformed by the Internet, at least in the medium term (3-5 years), are those that closely resemble retail services (such as commercial mortgage, short term lending, leasing, cash management, and the like). That is not to say that business to business (B2B) e-commerce opportunities do not exist in the financial sector - only that many of the medium term opportunities that are directly a result of the Internet are closely analogous to changes in the retail sector, and the others are probably more closely related to organizational and market innovation rather than a result of ubiquitous and low-cost communications technology.

Business-to-business electronic commerce : disintermediation and channel conflict

Thesis (M.Eng.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 1999.Includes bibliographical references (leaves 93-96).by Juan Jose Cue.M.Eng

Factors affecting the organisational adoption of blockchain technology in australia : a mixed-methods approach

Blockchain (BCT) is an emerging technology that promises many benefits for organisations, such as disintermediation, data security, data transparency, a single version of the truth, and trust among trading partners. Despite its multiple benefits, the adoption rate of BCT among organisations has not reached a significantly high level worldwide. The present thesis addresses this issue in the Australian context. There is a knowledge gap in what specific factors, among the plethora of factors reported in the extant scholarly and commercial literature, affect Australian organisations while deciding to adopt BCT. To fill this gap, this thesis uses a mixed-methods approach known as sequential exploratory mixed methods. In this approach, the research starts with a qualitative phase as an initial phase followed by a quantitative phase. During the qualitative phase, data were collected through semi-structured interviews of the BCT experts and decision-makers working with the ifferent Australian organisations that adopted or were in the process of adopting BCT. The Technology, Organisation, Environment (TOE) framework, based on the qualitative interpretative approach, was used as a theoretical lens during the qualitative phase. The qualitative data were analyzed using the thematic analysis technique with the SQR NVivo software. The analysis shows that the different factors, belonging to the technological, organisational, and environmental contexts, affect the organisational decision to adopt BCT in Australia. The technological factors include perceived benefits, perceived computability, perceived complexity, perceived disintermediation, and perceived information transparency; organisational factors are organisational innovativeness, organisational learning capability, top management support; environmental factors consist of government support, standards uncertainty, competition intensity, and trading partners readiness. The qualitative analysis also shows the direct and moderating effect of the perceived risks between the relationship of the identified factors and organisational adoption of BCT. Based on the findings of the qualitative phase, the thesis develops a theoretical conceptual model, which shows the relationship between the factors and the organisational adoption of BCT. To increase the external validity of the developed conceptual model, the thesis started a quantitative phase with the administration of an online survey for data collection. Certain criteria were set to screen out the irrelevant participants in the survey. During this phase, hypotheses were proposed for the relationship of the factors identified in the qualitative phase and the organisational adoption of BCT. The survey data was analyzed using the PLS Structural Equation Modelling (SEM) technique with the SmartPLS 3 software. The quantitative analysis confirms the findings of the qualitative phase that the perceived benefits, perceived compatibility, perceived information transparency, perceived disintermediation, organisational innovativeness, organisational learning capability, top management support, competitive intensity, government support, and trading partner readiness have a positive effect on the organisational adoption of BCT. Whereas the perceived complexity, standards uncertainty, and perceived risks have a negative effect. The analysis also shows that the moderating effects of perceived risks are significant in the relationship of perceived compatibility, perceived information transparency, perceived disintermediation, organisational innovativeness, organisation innovativeness, competition intensity, and organisational adoption of BCT. Contrary to the qualitative findings, ‘perceived risks’ has no moderating effects on the relationship of perceived benefits, organisational learning capability, top management support, government support, trading partner readiness, and the adoption of BCT. The thesis has both theoretical and practical contributions, which are useful both for theory development and decision-making for the adoption of BCT in Australia. Theoretically, this thesis contributes to the existing IT adoption literature in several ways. Firstly, the thesis provides empirical evidence about the factors affecting organisational adoption of BCT in Australia. This is the first in-depth sequential exploratory mixed methods research that bridges this knowledge gap in the extant literature. The identification of such factors is important, particularly for the Australian government and organisations interested in the value creation of BCT. Second, the thesis reports the effect of new factors, namely, perceived information transparency, perceived disintermediation, organisational innovativeness, organisational learning capability, standards uncertainty, trading partner readiness, and competition intensity on BCT adoption that are exclusively identified in this research. Third, this thesis confirms the findings of the past studies that the factors of perceived benefits and perceived compatibility, perceived complexity, and top management support have an effect on the organisational adoption of BCT. Fourth, according to the best of the authors' knowledge, this is the first research that has used the qualitative interpretive research approach to investigate the organisational adoption of BCT. Therefore, the thesis confirms the suitability of the qualitative interpretive research approach for BCT adoption. Lastly, most of the researchers have used the TOE framework in either in qualitative or quantitative research. This thesis proves its validity in mixed methods research as well. The thesis's practical contributions are discussed in chapter 7.Doctor of Philosoph

Identification and realisation of the benefits of participating in an electronic marketplace : An interpretive evaluation approach

Electronic marketplaces have proliferated as use of the Internet has become widespread in business. A rapid growth in the number of marketplaces, followed by a period of stringent consolidation, as market makers develop a greater understanding of effective business models, has resulted in a climate of uncertainty and confusion. As with many aspects of e-commerce the drive towards participation is fuelled less by strategy planning than by a fear of lagging behind competitors or losing first mover advantage. In this climate of uncertainty organisations often bypass effective evaluation of the benefits that can be realised from participation in e-marketplaces, thereby exacerbating the process facing them and hampering effective decision-making. Evaluation is perceived as a fraught subject within the Information System field, and particularly within the business community which adheres to tried and trusted, albeit often inappropriate, methods such as financial or technical evaluation. The difficulties involved in effective evaluation of systems are well documented; these will increase as systems become more pervasive throughout organisations and those of their trading partners. Calls for a more holistic approach to evaluation are increasing, based on a developing appreciation of interpretive methods of research within the Information Systems discipline. However, the understanding that the social, political and cultural factors affecting and organisation have an impact on the uses and advantages of systems is by no means universal, and empirical evidence of this view is only slowly emerging. This research examines the benefits that can be realised from participation in an electronic marketplace by taking an interpretive approach to the evaluation. It examines the nature of electronic marketplaces to provide clarity to a confused and dynamic environment. The study then focuses on the development of evaluation studies within the IS discipline to identify how an effective evaluation method for assessing the benefits of e-marketplace participation can be achieved. An empirical examination of an organisation’s participation in an electronic marketplace is used to identify the benefits that are realisable and the issues that impact on them. The case study is conducted through an interpretive lens, using a content, context, process (CCP) approach based on existing IS literature. This enables a crucial understanding of the internal and external environments influencing the organisation and its realisation of potential benefits. To allow for the range of interpretations and reflections required to fully address the complexity of the issues involved in such a case study, a variety of research influences such as dialect hermeneutics, critical realism and case study theory are drawn into the research model. The case study organisation’s motivation for participating in an e-marketplace was primarily cost savings. Over the two years of the study, several more potential benefits were identified, such as supply chain efficiencies, greater market awareness and a widening of the supplier base. However, the organisation’s commitments to its local and regional communities, its need to retain status and some consideration of existing relationships needed to be balanced against the gains that might be realised. In some cases the organisation chose to forgo a potential benefit in favour of socially or politically motivated actions. Cultural factors also influenced their actions, particularly as they moved towards extending participation in the marketplace to gain from a global sourcing strategy. The contribution of this research lies in two areas. Firstly, it was existing evaluation literature to development a framework for the evaluation of benefits in the complex area of electronic marketplaces, thereby extending and informing the call for more inclusive and interpretive evaluation studies. Secondly, the research contributes empirical evidence to support the recognition of benefits to be gained from electronic marketplaces and shows how the realisation of the economic benefits is impacted by the social, political and cultural factors that influence an organisation

Factors affecting the organizational adoption of blockchain technology : extending the technology–organization– environment (TOE) framework in the Australian context

Blockchain technology (BCT) has been gaining popularity due to its benefits for almost every industry. However, despite its benefits, the organizational adoption of BCT is rather limited. This lack of uptake motivated us to identify the factors that influence the adoption of BCT from an organizational perspective. In doing this, we reviewed the BCT literature, interviewed BCT experts, and proposed a research model based on the TOE framework. Specifically, we theorized the role of technological (perceived benefits, compatibility, information transparency, and disintermediation), organizational (organization innovativeness, organizational learning capability, and top management support), and environmental (competition intensity, government support, trading partners readiness, and standards uncertainty) factors in the organizational adoption of BCT in Australia. We confirmed the model with a sample of adopters and potential adopter organizations in Aus-tralia. The results show a significant role of the proposed factors in the organizational adoption of BCT in Australia. Additionally, we found that the relationship between the influential factors and BCT adoption is moderated by “perceived risks”. The study extends the TOE framework by adding factors that were ignored in previous studies on BCT adoption, such as perceived information trans-parency, perceived disintermediation, organizational innovativeness, organizational learning capa-bility, and standards uncertainty. © 2021 by the authors. Licensee MDPI, Basel, Switzerland

Bricks Plus Bytes: How Click-and-Brick Will Define Legal Education Space

Herein, I present a number of technological, commercial and profes- sional scenarios that cumulatively suggest that the law school of the near future must be re-engineered and become what is known in e-commerce as "click-and-brick" or "click-and-mortar.' In a click-and-brick law school, distributive learning techniques will fill much of the space, supplementing traditional class experiences and substituting for many others. But a true click-and-brick will also integrate distance learning methodologies, reach- ing out to remote students, enabling collaboration with off-campus faculty and consuming remote content. I draw this not entirely happy conclu- sion from analyzing the commercial and technological forces that are si- multaneously energizing and threatening traditional legal education, and from my belief that, properly re-engineered, the traditional law schools can retain their relevance and continue in their role as the guardians of the intellect of the law. In the sections that follow, I first address the qualitative and institu- tional arguments frequently raised against such non-traditional legal edu- cation (Part II). I then suggest that the law school of the future will be quite a different place from the one we are familiar with, both because of the implications of the new enabling technologies (Part III) and because law school space is no longer a self-contained, autonomous and insulated environment (Part IV). I argue that, before we can aspire to a sustainable click-and-brick model, we will be forced to make some significant changes to how we fill our virtual and physical law school space (Part V). Finally, I suggest that, in designing our click-and-brick model, we pay particular at- tention to the ways in which law practice is being reshaped, and suggest other areas where the law school curriculum will require major re-tooling to be relevant to the Information Age (Part VI)

Strategies for E-Commerce Adoption in a Travel Agency

In 2016, online travel sales increased 8%, resulting in profits increasing to over 565 billion U.S. dollars. Traditional travel agencies in brick-and-mortar storefronts are facing challenges related to competing with online travel agencies (OTAs), attracting new customers, and retaining existing customers. The purpose of this qualitative case study was to explore the e-commerce processes, business models, and strategies that leaders of traditional travel agencies use to compete with OTAs. The study sample consisted of 8 travel professionals from 3 small travel agencies located in the mid-Atlantic region of the United States. The conceptual framework for this study was Rogers\u27s diffusion of innovation theory. Data for the study were derived from semistructured interviews, review of travel agency documents and websites, and review of interview transcripts. Data analysis and methodological triangulation included coding, organizing, interpreting, and summarizing data to identify themes. Four themes emerged: the effect of e-commerce on travel agents\u27 performance, competing with online travel agencies, marketing strategies to attract and retain customers, and e-commerce processes used in travel agencies. Fifty percent of travel agents\u27 business declined, and performance decreased because customers used OTAs or e-commerce websites to purchase vacations. Travel agents specialized in niche\u27 travel destinations to compete with OTAs. Travel agents differentiated products and services to attract and retain customers. Leaders may use the findings to develop strategies, improve business processes, and profitability, thereby, increasing revenues, creating jobs, and providing income for families

A Critical Investigation into Identifying Key Focus Areas for the Implementation of Blockchain Technology in the Mining Industry

Thesis (PhD)--University of Pretoria, 2023.The value of digital information is ever-increasing as more companies utilize digital technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) to gain deeper insight into their business operations and drive productivity gains. It is therefore important to safeguard and ensure the integrity of digital information exchange. Blockchain technology (BCT) was identified as potentially providing the mining industry with a trusted system for securely exchanging digital value. However, there is little evidence or understanding of how/where BCT can be implemented and what benefits the industry could obtain. This research study provides a fundamental understanding of what the technology is in order to identify the associated capabilities and potential application benefits for the mining industry. From a technology push perspective, blockchain capabilities are used to evaluate how the technology’s value drivers map to the mining industries core value chain processes. This was done to identify potential focus areas within the mining enterprise for further research and development of blockchain applications.ARMMining EngineeringMEngUnrestricte