B2B Integration : A Practical Guide to Collaborative E-commerce

XML Standards for E-business 197
• Manufacturers and distributors will accelerate the speed of product
availability to the buyers, decrease their inventory levels, raise
productivity, have faster response times and thus be cost effective.
• Using RosettaNet's electronic component technical dictionary (ECTD),
manufacturers can make an immediate announcement of a new product
and discontinuation of an existing product to all buyers and B2B
exchanges. This is especially relevant in an industry where the
product life cycles are very short.
• RosettaNet PIPs ensure the accuracy of transmitted data, eliminate
redundant data entry at multiple points in the supply chain and
facilitate more accurate planning and forecasting than before.
• RosettaNet helps in streamlining just-in-time (JIT) reporting among
all partners in the supply chain cycle. Usually the cost of generating
multiple reports for multiple trading partners is very significant.
Companies can reduce this cost as the product definitions become
standardized.
• Buyers can do a comparative study and analysis of the different
product lines from multiple vendors. RosettaNet makes the information,
like the catalogs, available to buyers in a uniform format from
suppliers, making it possible for buyers to do an orange-to-orange
evaluation of the product pricing, contract terms, availability and
delivery dates.
• Based on the above-described uniformity, buyers can shorten their
procurement cycle and make it standardized.
• Buyers and sellers will not be married to each other for a lifetime.
They can engage in dynamic, flexible trading-partner relationships.
• RosettaNet also standardizes the money lending process between
partner companies and financial institutions. All the lending processes
can be tracked on a real-time basis.
To exploit the benefits of standardization, RosettaNet solution has to
be widely adopted and integrated into enterprise applications by all
large companies (if possible — all companies) in the respective sectors.
7.2.4. RosettaNet embraced by software vendors
Several leading software and application server vendors in the B2B
space are providing packaged solutions to help companies implement