The forward auction system awards the highest bidder the material. Retrieved 21 December Mjunction Services – The Economic Times”. The company has more than employees and 20 locations throughout the country offering a wide range of eSelling, eSourcing, eTendering, eFinance and Knowledge services across a diverse range of industries. Business challenge story Establishing digital marketplaces Starting with the steel industry and moving onto other verticals, like coal and tea, mjunction seeks to make commodity markets more efficient, and it uses technology to do it. The steel plant, on the other hand, is able to get the best prices for their materials and liquidate their stocks very quickly. Establishing the e-auction service was neither quick nor easy.
Subsequently, it moved into new areas of business and now offers eSelling, eSourcing, eFinance, and knowledge services across diverse industry verticals. Increases operational agility and responsiveness to rapid changes in the marketplace. Steel industry mjunnction India. This page was last edited on 21 Mayat Noindexed articles Articles for deletion Use dmy dates from May Use Indian English from May All Wikipedia articles written in Indian English Pages using deprecated image syntax All articles that may have off-topic sections Wikipedia articles that may have off-topic sections from May Smallest bidders can transact business here.
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Principle caase management 4. This system can be a model for other online marketplaces. Oberoi views mjunction as a market disruptor, changing age-old practices in the tea marketplace, for example.
This document is current as of the initial date of publication and may be changed by IBM at any time. Mjunction is an ISO Initially focused on steel, Mjunction rapidly expanded to new business lines and now offers e-Finance, e-Selling, e-Sourcing and e-Knowledge services for various goods such as steel, coal, automobiles and tea 3.
Business volume of the company in terms of transactions has increased stuey Rs Retrieved 21 December Views Read Edit View history.
From Wikipedia, the free encyclopedia. The forward auction system awards the highest bidder the material. Founded in February and headquartered in Kolkata, mjunction Services, Ltd.
Retrieved from ” https: If that platform could also facilitate transfers in a secure and transparent environment, that marketplace would be much more powerful. Oberoi estimates that his company runs about online steel, tea and coal auctions per day on average, though the number may vary from to Business challenge story Establishing digital marketplaces Starting with the steel industry and moving onto other verticals, like coal and tea, mjunction seeks to make commodity markets more efficient, and it uses technology to do it.
The challenge Companies searching for alternative uses or buyers for their waste, or pushing by-products up t.
This solution needs to be reliable and scalable to handle the wide range of auctions that may occur in a given day. Not all offerings are available in every country in which IBM operates.
Mjunction was established to help redesign and improve business processes of a supply chain or an industry. Retrieved 16 May Archived from the original on 18 November In order to operate more effective online auctions, mjunction sought a solution to bring new applications to market faster. Transformation mjunction optimizes and quickly scales its infrastructure to bring new applications and auctions to market faster using IBM PureApplicationTM System.
Price transparency presents significant challenge in the exchange of secondary materials consumption. View more client stories or stufy more about IBM Cloud.
Mjunction: Establishing Price Transparency
The Challenge Online business-to-business secondary material marketplaces are often operated by private compa. Produced in the United States of America, January This wide variance requires that mjunction optimize and quickly scale its infrastructure. Augmenting this issue, confidence in the quality of the material is not as strong as it is for primary materials due to established control and assurance processes.