Tag: Manufacturers

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MarketOrders News

MarketOrders Co-Founder invited to moderate National Technology News roundtable

Our COO Sukhi Jutla was invited to a private event to moderate a roundtable discussion on the topic of ‘’Success in the data-driven supply chain’’ at City Social, Tower 42 on the 10th of October.

Sukhi has extensive experience in digitising supply chains and has also written numerous articles on this topic. Her experience enabled her to lead an engaging discussion with 20 hand-selected high profile people who work as chief digital officers and supply chain experts from FTSE 250 companies.

Topics focused on the rise of artificial intelligence, the need for more entrepreneurialism within supply chain systems and the use of blockchain in shipping products on time.

The official writeup and pictures will be released in due time by National Technology News, who hosted the event.

See below for the topics that were discussed.

 

Topics:

Whilst the UK’s global trading routes face unprecedented political uncertainty in the form of Brexit and trade wars, the manufacturing sector is also tackling widespread digital disruption.

With digitised supply chain technology and an influx of new data rapidly gaining ground over outdated systems, businesses are turning to the Internet of Things (IoT), Electronic Document Management (EDM) and Robotic Process Automation (RPA) to ensure they can track this proliferation of new data sources and ensure compliance with changing customs and trading rules during and after Brexit.

However, as they attempt this, fragmentation, manual processes and legacy infrastructure have meant that many businesses are failing to harness the commercial potential locked within their data.

As a result, they are struggling to keep up with their supply chain partners and competitors in an increasingly connected world.

But global supply chains are also coming increasing regulatory pressure as well as board demands to do more with leaner infrastructure. As a result, it has never been more urgent for manufacturers to view their data in real time, and drive efficiencies from factory to shop floor in order to stay ahead.

This roundtable explored how companies are using new technologies to digitise their supply chains and overcome Brexit-related disruption by tracking orders across borders and improving overall business performance.

 

Topics for debate:

  • How can predictive analytics and alert systems help flag potential risks and forecast changes in supply and demand?
  • What role will IoT, machine learning and blockchain play in supply chain transformation?
  • How can integrated information systems help maintain compliance with changing customs and trading regimes after Brexit?
  • What are the risks involved in implementation of RPA?
  • How can data-driven supply chains help businesses prepare for Brexit-related disruption at the border?
  • What is the benefit of real time visualisation of data to track supply chain processes?
  • How can automated data flows improve communication between supply chain partners?
  • What are the challenges around integrating data management systems with existing EDM infrastructure?
  • How is merger and acquisition-related disruption holding up supply chain connectivity and digitisation?

 

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MarketOrders News

MarketOrders at the International Jewellery London (IJL) 2019

The International Jewellery London (IJL) is the pre-eminent annual destination for the best of British fine jewellery, as well as leading brands from around the globe.

It is the global meeting place for the jewellery trade so it’s only natural that MarketOrders attended. Our COO & Co-Founder Sukhi Jutla was also asked to speak on a panel about The Future of Fine Jewellery.

In this blog post, she gives her personal take on the IFL and the key takeaways points and trends she learned as well as an overview of her panel talk.

About IJL No alt text provided for this image

The IFL is an annual event held in London over the course of 3 days. There were a number of seminars, talks and workshops talking about the new trends and technologies emerging in the jewellery industry.

The exhibition featured a catwalk show showing the latest jewellery designs, an inspiration theatre talking about how to embrace technologies to improve customer experiences and the knowledge Hub where I was speaking.

The key themes at IFL focused on: 

  • The future of lab-grown diamonds
  • The Future of Fine Jewellery
  • Jewellery trends for 2020
  • How to embrace systems and tech to deliver the ultimate shopping experience
  • Sustainability in the jewellery trade

 

MarketOrders point of viewKrystian Ozog also came along and he looks after our customers at MarketOrders as our Chief Customer Care Officer

Walking around the Olympia exhibition centre with the most beautiful and dazzling jewellery collections looking back at you made me think even deeper about how MarkterOrders can best serve the industry and more specifically, help our retailers.

Almost everyone I spoke to said their biggest issues were with not being able to communicate enough to the end consumer. 

With most of the products being created by designers, suppliers and manufacturers who are often removed from the consumer on the high street, it can be hard to see what products are selling and why some items don’t sell. 

Without some sort of communication with the end consumer, it can be difficult to truly provide what the consumer needs.

This is why MarketOrders exists; to bridge that gap. By only placing orders from retailers, suppliers will only produce items that are needed.

Retailers are best placed to place orders as they face off to the customer on a daily basis. They understand what sells and what won’t.

By placing personalised orders on-demand, retailers can be confident that they can sell their stock and not have to meltdown items that don’t sell or be stuck with inventory on shelves.

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The Future of Fine Jewellery Panel 

If you missed my panel talk here are the key highlights from my panel.

I was joined by Naomi Newton-Sherlock, the Creative Director at Domino and Daisy Grice, a jewellery designer. Chairing the panel was Asha Pitt from the Professional Jeweller.

Note: MarkeOrders has a profile feature in Septembers edition of the Professional Jewellery which you can check out here on page 78.

 

 

On Millenials and jewellery trends….No alt text provided for this image

  • Millennials shop in different ways. They are not looking to buy a product but an experience. So can retailers keep up with these changing consumer demands?
  • It’s no longer seen as fashionable to buy expensive jewellery if demi-stones look just as good and are half the price. Millennials are image-conscious and want to be able to keep up with changing fashion trends without the costs involved.
  • Consumers and Millenials, in particular, are looking for convenience and personalisation. They are not buying a product but experiences as they value experiences more highly.

 

What advancements should the jewellery industry be embracing?Our visionary CEO of MarketOrders was also in attendance at the IFL to look for new trends.

  • Retailers are no longer selling a product but an experience.
  • Consumers value individual attention, customization and personalisation as opposed to mass-market customer service.
  • Retailers and designers need to think about how best to reach their customers and listen to what they are asking for

When it comes to responsible jewellery manufacture, do consumers really care? 

  • If given the choice, most consumers would opt for the responsibly sourced jewellery but retailers say this is still a small proportion of their sales simply because not enough suppliers are providing this due to the extra costs involved.
  • Perhaps if consumers voted with the pounds in their pockets then things could potentially change.
  • However, responsibly sourced jewellery is still more expensive and not enough consumers feel they want to pay extra for this.

Demi-fine / semi-fine jewellery continues to grow as a market segment; should fine jewellers be concerned?

  • Not necessarily. Most retailers are now stocking an array of different types of jewellery so that they can cater to all consumers.
  • In order to stay ahead it is vital retailers notice and adapts to consumers changing demands otherwise they risk being left behind.

Q) How can technology improve the consumer experience and industry margins?

 

  • Without a doubt, it is imperative the industry embraces technology to better serve their consumers.Our Chief Customer Care Officer, Krystian Ozog relaxes on a chair after a busy conference!
  • Retailers need to have omni-channels, different ways to reach their consumers and give them different options to see and buy their products.
  • Make the purchase an experience and not just a transaction.
  • The jewellery industry is no longer competing with other jewellery but with other products. Jewellery used to be a popular gifting idea but now it’s competing with the latest iPhone, tech gadget or luxury holiday!

I hope you enjoyed this roundup summary of IFL, looking forward to next year!

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MarketOrders News

How MarketOrders is pioneering ‘Smart Retailing’ in the gold jewellery industry

 

Today, retail shopping involves one of two options; you either buy products online or walk into brick and mortar stores.

These days however more and more people want their goods to be delivered faster and cheaper to their doorsteps which continue to put pressure on traditional retailers or brick and mortar outlets.

But when online shops can’t quite deliver, the customer needs to go to the store themselves and this experience can be very frustrating. Therefore this cannot be the only option.

So let us introduce a new form of retailing called ‘Smart Retailing’ being pioneered by my company, MarketOrders. We are shaping up a new type of retail experience by combining the best of both online and offline retailing for the gold jewellery industry.

At MarketOrders, we call this a converging platform. Our platform is helping to redesign traditional stores into smart retail stores. We help retail jewellers to embrace new technology to enhance their traditional retail stores.

eCommerce and the high street don’t have to fight for sales. Instead, we help our retail jewellers discover how they can use digital tools like MarketOrders to help reach more customers by ordering smarter and cheaper.

Even though the world is becoming more digitised, there is still demand for in-person purchases. People don’t just want to buy a product. They want to buy an experience, especially when it comes to high-value items like gold and diamond jewellery.

Retail stores can embrace this growing trend through what we call ‘Smart Retailing’ and we are already helping traditional gold jewellery retailers to adapt to the new digital world in new and creative ways.

 

photo credit: https://pixabay.com/en/jewelry-necklace-shop-windows-1159685/

 

MarketOrders, proof of concept (POC)

So let’s start with your experience when you visit any gold jewellery shop if you have been to one. It takes hours for you to choose and pick that perfect item for your loved ones.

You might not like the design or style or maybe it’s too expensive. It could also be a dull experience if you are having to get the attention of store staff and they are not being particularly helpful!

You could purchase the item online however that is also not a perfect experience. You may want to touch the item, feel it and try it on. The item may also need to be made to order and can’t accommodate a suitable delivery window in time.

 

photo credit:https://pixabay.com/en/handshake-hands-laptop-monitor-3382503/

 

Introducing the MarketOrders hyper-local mobile commerce vision

From our experience, we have seen that most customers prefer to buy local especially when it comes to jewellery.

Now through the MarketOrders platform and its hyperlocal mobile commerce, everything will be customised the way you want (business owner and end consumers) and the experiences will be powered with technology. This will help the customers to make more informed choices and improve efficiency.

The MarketOrders platform allows the retailer or their customers to pick and choose what they want, when they want and at what price they want.

Purchasing gold jewellery is still operating in a very traditional way. The process was designed decades ago. The retailer has to visit the suppliers to find designs that suit his customers needs based on gut feelings as nothing is digitised or data-driven.  This costs time and money and is an inefficient process.

MarketOrders redesigns this experience by bringing universal designs onto our platform. Retailers can view the products they want with no sales pressure to buy, no need to travel to the suppliers on the other side of the world and no longer having to leave the business unattended. Retailers can also purchase from one source instead of multiple distributors which is also time-consuming.

MarketOrders allows retailers to browse what they want and check the price suitability before placing the order and make a request to deliver or pick up at a particular time.

All the small traditional retailers can get a unique makeover by using the MarketOrders platform.

Most brick and mortar jewellery retailers have not changed the way they operate since the mid-eighties and these stores are the lifeblood of many localities and communities. Today they need to be more convenient to cater to today’s shoppers and satisfy their experiential desires.

 

The real transformation that MarketOrders will bring is digitising the traditional store.

The technology that MarketOrders is building will help traditional retailers with the analytics of their store. This will help decide what products they need, how much they need, who is their customers and etc.

This means the local stores will be better enabled to serve the needs of the local customers. The possibility for small brick and mortar shops are endless with MarketOrders where we are helping to reimagine the stores the way their customers want to shop. Smart Retailing is the future for the gold jewellery industry.

 

Connect with us:

Web: https://marketorders.net/
Facebook: Facebook: https://www.facebook.com/marketordersofficial/
Twitter: https://twitter.com/Market_Orders
Instagram: https://www.instagram.com/marketorder/
LinkedIn: https://www.linkedin.com/company/market-orders/

Contact details: [email protected]

 

Written by CEO & Founder, Ram Krishnna Rao

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MarketOrders News

Why the future of retail sits at the intersection of e-commerce and the physical retail shop?

 

The digitisation of Gold Jewellery Industry on MarketOrders platform becomes location agnostic and open to global gold jewellery industry which can constantly evolve by investing in and building Unique IP that will add value for every participant on the platform.

 

In order to make MarketOrders a strong marketplace for the gold jewellery industry, MarketOrders must continue to invest heavily in machine learning, blockchain technology and data – analytics capabilities to gain and gather intelligence from trade data flow.

 

 

MarketOrders enhances the intersection of e-commerce and physical retail stores. Retailers understand that strong customer engagement can only be achieved by implementing new innovation and new technology. This realization causes retailers to think about the need to innovate. They are constantly seeking to evolve and innovate. To execute this vision of an in-store experience powered by technology, retailers need to leverage the capital-skill set of both infrastructure and operations which can cost them a fortune.

 

Keeping in mind that retailers are prime for fresh ideas and new approaches, MarketOrders platform introduces new technology to retailers to help elevate the customer experience and create an incentive for shopping offline and driving purchase intent by increasing the visibility of demand  by allowing retailers to discover product of relevance, reduce shoppers frustration and help create pleasing experience and increasing chance of customer delight.

 

We believe that the future of retail sits at the intersection of e-commerce and the physical retail shop. MarketOrders will bring and enhance these two experiences into a seamless integrated and complementary approach.

 

 

The ultimate goal of MarketOrders is to help retailers to leverage real-time placement for retail stores which will create a concentrated and consolidated Marketplace with retail-user interface integration with a unique point of buying. This will enable and optimize retail buying to be unique, personalized and enable customisable experiences and pushes retailers to know who is their customer in the rise of the experience economy.

 

Today, the world is entering a new phase of globalization where digital technology is rapidly changing the nature of doing business. MarketOrders platform is adopting the technology to digitize the entire end to end supply chain of the gold jewellery industry in this new world across physical and digital commerce by bringing a centralized hub and digitising it.

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

How MarketOrders is using a three-pronged strategy approach to centralise the gold jewellery industry

 
In the previous post, we touched upon how MarketOrders is using a three-pronged strategy approach. These are centralisation, creating unique IP and e-commerce. In this post, we deep dive into each of these approaches and show why the gold industry needs to adopt a centralised platform.

 
The first strategy as an entry point is to create a centralized platform for the entire Gold Jewellery Industry This will allow retailers visibility and to conduct trade securely. These include discovering new jewellery designs and managing their common audit trail between counterparties on a single platform. In the first instance, MarketOrders platform allows retailers and manufacturers to buy and sell gold jewellery and grow their business.

 
Gold jewellery retailers and manufacturers do not have resources such as expertise and capabilities to digitize their retail shop offerings. This is why its essential to have a digital marketplace. Once retailers get used to trading online, MarketOrders platform can expand quickly to emerging countries and expand the gold jewellery business growth digitally. Global buy, Local sales.

 

 

photo credit: https://pixabay.com/en/handshake-hands-laptop-monitor-3382503/

 

The Second pronged strategy of MarketOrders is by creating Unique IP as a value-adding component of the platform. This includes our unique ‘On Demand Order Aggregator’ system via our smart router system and data-driven supply and demand scoring system.

 
This IP will serve as a unique and inimitable differentiator. As the density of the platform increases, developers can create more attractive IP for MarketOrders platform, which will create higher demand and leads to a greater usage of the platform. This will create a virtuous circle.

 
The third pronged strategy is by MarketOrders providing centralization and concentrated digitize commerce for the Gold jewellery industry. It also can leverage its position to allay fears among traders on the platform.

MarketOrders is a non-manufacturer and non-retailer to allay competitive fears among traders who are using MarketOrders Platform.

 
All these three strategies establish  MarketOrders platform as the dominant standard to digitize Gold Jewellery commerce.

 

 

 Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

How the gold jewellery industry can adopt a centralised platform strategy

 
The gold jewellery industry is a very ancient industry. It is as old as civilisation itself and its one of the few industries which haven’t been revolutionised by the use of technology…until now that is!

 
MarketOrders is on a mission to bring unity and centralisation to this fragmented industry.  And for the gold industry to become digital, they must first be bought into centralisation.

 
To understand this better, let us consider planes and passengers. For example, when there is no airport, just imagine the scenario. Planes land in any available space to land the aircraft and board the passenger and head back to the destination.

 
Now, this situation would cause havoc in the aviation industry. The passenger has to go to any landing space of aircraft NOT knowing which destination the plane will head back to. And this happens because there is no visibility of demand and supply.

 

photo credit:  https://pixabay.com/en/aircraft-landing-reach-injection-513641/

 

Now, apply this scenario of an airport or hub to that of a centralised platform. You now have total visibility of what planes are available and how many passengers want to take a flight. The passengers will have visibility of which aircraft are at which terminals. They will know what time the planes will leave and which destinations they are heading in.

 
The airport concept serves as a centralised mechanism, not just as a centralised infrastructure connecting passengers, planes and destinations but also providing retail offerings such as shops, restaurants and shopping mall experiences.

 
MarketOrders can leverage a similar system by providing a centralised hub for the gold jewellery industry. This would enable multiple participants such as manufacturers and retailers to collaborate in many ways.

 
As an initial adoption of strategy in building the first ever concentrated market via centralization, MarketOrders is using a three-pronged strategy approach. These are centralisation, creating unique IP and e-commerce. In the next blog post, we take a deep dive into this unique approach.

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

Why the gold jewellery industry must adopt a platform strategy

 

The gold jewellery industry is a very ancient industry. It is as old as civilisation itself when early humans would gift gold and adorn it on their bodies. From day one it has had a cultural and personal significance. And thousands of years later, it still remains an untapped and fragmented market where technology has yet to make it smark on this industry worth $175 billion dollar industry.

 

photo credit: https://pixabay.com/en/sculpture-museum-perth-gold-digger-1104196/

 
Today, this industry still operates in a highly fragmented and scattered manner. As a result, the industry must re-invent itself as a hub suited for the digital world.

 

Today in digitally dominated economies, marketplaces offer customers the opportunity to connect with one another. The Gold Jewelry industry must adopt this approach of a centralized marketplace. In a way, the marketplace is the most ancient way of trading goods. And this is also where the digital age has gravitated towards – a marketplace that is truly global in scale with thanks to technology.

 

A digitised centralised platform will act as a key advantage for sellers and buyers by allowing them to connect through a digitally initiated platform.

 

Today, digital technologies are changing the nature of globalization. The digital economy is driven by the rapid growth of a digital transformation and it’s happening at a breakneck speed.

 

photo credit: https://pixabay.com/en/bitcoin-money-virtual-market-3137984/

 

The MarketOrders platform will be an engine of innovation for gold jewellery retailers specifically and retailers in general SME’s as it will allow them to participate in international trade without the need to invest in their own technology-driven supply chain.

 

In the changing landscape, gold jewellery retailers and the entire industry needs to re-imagine and re-invent its position in centralised platforms and leverage its current strength in physical gold trade retailing to create a new digital trade.

 

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

Q& A with the founders of Marketorders

 

Today’s blog is a quick fire Q&A with the Founders, Ram and Sukhi. They talk about what MarketOrders does, how they came up with the idea of digitising the gold trade industry and the defining moment that changed it all.

 

 

Tell us what your business does in fewer than 25 words:

MarketOrders in an online marketplace helping to connect independent jewellery brands directly to manufacturer’s around the world to source the best products at the best price.

 

 

How did you come up with the idea?     

The founders have been in the gold jewellery market for over 15 years and saw how inefficient and archaic the processes and systems are in the gold industry where it is still run in a very traditional manner and only 4% of transactions occur on-line.

 

We found in our previous business that we were still taking orders manually and found there was no online or curated destination for jewellery retailers to be able to source the products they needed. So we decided to help the retailers by accepting multiple small orders from many retailers and aggregating their orders. This aggregated order was then sent to the manufacturer who could accept larger orders and give us bulk discount savings. These savings are then passed back to the jewellery retailers.

 

Without MarketOrders, small retailers cannot access the products and prices the large manufacturer reserves for larger orders and clients. And the manufacturers also benefit by getting more orders from more customers. MarketOrders allows a more efficient way to manage the supply/demand issues that many small retailers and SMEs face.  

 

photo credit: https://pixabay.com/en/dropshipping-oberlo-shopify-3264486/

 

 

What makes your business different from the competition?    

MarketOrders is the only online curated destination for the gold jewellery industry where every step of the process is online. Our customers, the retailers, can order products online, pay online and the products are delivered to their door.

 

All our competitors are still working in a hybrid version where only some of the processes are on-line and the rest is very manual and hence time-consuming which can lead to a lot of delays.

 

By bringing the entire supply chain online  MarketOrders is able to bring greater visibility to the supply and demand of gold jewellery products. We can also collate data and use those insights to help our customers. For example, retailers can track which products sell the most at certain times throughout the year and we can even use this data to do predictive orders.   

 

                          

Who are your clients/customers? How many do you have?

MarketOrders is a 2-sided marketplace so we work with both the jewellery retailers (SMEs) and the manufacturers.

Currently we serve retailers based in the UK and work with manufacturers abroad (Hong Kong, Singapore & Dubai).

Our focus is on serving the gold, diamond and precious metals jewellers in the B2B space.

 

photo credit: https://pixabay.com/en/jewelry-necklace-diamond-ring-3213722/

                            

 

Key moments

 

 

What’s been the most challenging thing about starting your business so far? 

The gold industry is extremely traditional and operates largely off-line. The only way to break into this market is by trust. It took us years to build solid relationships with manufactures and retailers. This took a lot of time and effort to develop but was worth it. Because this is the only way to really understand the problems your customers are facing.

 

Gold is an emotional product; people use it to look beautiful or use it as an investment for their security, so there is a huge amount of trust involved in every transaction. You need to prove that you are providing gold of a premium quality, be very clear and open as to where it is sourced from and to be able to deliver the products on time. So building that deep trust with each one of our customers had to be done in person and was challenging as it took many years to do.                

 

What was your breakthrough moment?   

When we realised we could aggregate multiple small orders from multiple retailers and aggregate them to a larger singular order so the manufacturer could accept the orders and give us bulk discount savings.  This solved 2 problems; allowing smaller retailers to access these large manufacturers and get more designs and products at a lower price and also allow manufacturers to increase their capacity utilisation as their machinery was often left idle as they needed minimum orders to produce the products. For the first time, the gold industry was now on-line and had an on-line presence.             

 

 

What is your goal for your business?

To create the largest and most trusted marketplace for the supply and provision of gold and associated products and take it to an IPO.

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

Why is the B4B model so important in today’s digital consumer world?

 

Mobile technology and the Internet have empowered consumers in a way that they are now more informed about market offers than the retailers trying to sell to them. Changing their minds or switching providers is now as easy as clicking a mouse. 

The combination of commoditization and the empowered customer makes it even more important to have a Consumer Centric Culture where the experience of purchasing is just as important as the product that has been purchased. (Check out the last post to learn more about the Consumer Centric Culture).

 

 

Therefore, business owners must be able to buy the products they need in order to customise their customer’s requirement and be able to compete effectively in todays ‘experience economy’.

 

photo credit: https://pixabay.com/en/computer-laptop-business-office-3246121/

 

From B2C to C2B

Today’s era is no longer B2C but C2B. The consumer drives the transaction. Therefore, the B2B concept of “Make, Ship, Sell” is no longer applicable and is instead replaced by the B4B concept which allows retailers to buy “On Demand”.

 

 

The B4B model encourages manufacturers to stop thinking about how they can sell more products and start thinking about understanding and actively working with retailers to arrive at a specific end result. Manufactures should be working for retailers, not the other way around.

 

 

Applying the B4B concept, MarketOrders built the platform to bring “visibility of supply and Demand” for both retailers and manufacturers by “Digitization” of the entire gold jewellery industry by centralisation. A central network platform will successfully help to map out customer needs and desires which will help retailers to practice and implement a customer centric culture in return.

 

 

MarketOrders will help retailers to discover what their customers want, create greater density with designs and selection, a transparent system and increase the ability to tap into global sellers directly and faster, which will allow speed to market.

 

 

Now, using the B4B concept, business owners will be surrounded with a customer-inspired culture. In today’s digital customer era, creating a customer centric culture is and should be a top priority for all businesses, especially independent small retailers, in order to thrive in today’s customer first world.

 

The future is centralisation

Centralisation allows data and insights to be collected from every transaction. These insights can help grow the business of the participant on the platform with greater engagement to their customer closer. The building of technology embedded on the MarketOrders platform is focused on customer experience and the customer focus is at the heart of the snowball effect.

 

 

When you add the B4B concept with a centralised network, we will help small businesses to be in better control of their success at scale.

 

photo credit: https://pixabay.com/en/jewelry-manufacturing-manufacturing-1381501/

 

Why does the gold jewellery industry need centralization?

By centralizing the supply chain in the gold jewelry industry, it gives both retailers and suppliers a greater level of visibility in terms of where to source the best products they need.

 

 

The B4B model allows the technology to be built around the customer and helps small business owners understand their customer needs. For once, there will be the ability to see buying trends within the gold markets and this data can be used to generate deep insights for retailers to help drive their business success through better decisions making. These data based insights will drive greater adoption for more business growth and ultimately lead in helping achieve targeted business outcomes.

 

What do you think of the rise of the B4B economy? Post your comments below.

 

Written by CEO & Founder, Ram Krishnna Rao

 

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MarketOrders News

How Marketorders is Enabling The Future Of Independent Retailers through Centralisation on a Global Scale

 

MarketOrders is a marketplace-connecting retailers to manufacturers. We call this a Business-For-Business concept (B4B).

 

What makes this approach different from traditional Business-To-Business (B2B) is that retailers are at the heart of key decisions on the MarketOrders platform.

 

Volume buyers are no longer the only ones with purchasing power. We champion the smaller retailers by helping them to get access to the manufacturers and products they need at the best possible price.

 

Our platform has been created on a secure base layer featuring On-Demand, Order-Aggregation processes.

 

Multiple orders from various different retailers are pulled together via our Smart Router mechanism. This becomes the primary source of business value as physical processes are turned into real-time data flow amongst a network of retailers and manufacturers. This allows the business owners to achieve economies of scale.

 

Why should retailers use the MarketOrders Platform?

Here are a few reasons as to why we believe retailers would benefit from using our platform that has been designed with the retailers specifically in mind.

 

  1. No central point of failure.
  2. Support global scaling.
  3. Lowering cost and enhancing quality.
  4. Increase communications and sharing best practice.
  5. Brings transparency on price, purity and supply chain.
  6. Business practice becomes faster, relevant and cost effective.

 

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photo credit: https://pixabay.com/en/earth-globe-future-forward-golden-422758/

 

How does the MarketOrders platform work?

 

MarketOrders aims to be a single, unified and centralised platform creating the ultimate marketplace for the gold jewellery trade industry.

 

The aim of the marketplace is to consolidate the entire supply chain vertically from back-end production to front-end consumption across a network of retailers and manufacturers around the globe.

 

This allows the ‘middleman’ to be cut away from the process bringing greater efficiencies to the supply chain.

 

 

MarketOrders not only empowers the independent retailers (SME’s) but also makes it possible for them to be in.

 

MarketOrders is ushering in a digital revolution for traditional brick and mortar jewellery shops. This will allow them to face other digital challenges such as online jewellery shops and be better able to compete with the rise of the experience economy.

 

This article was written by Ram Krishnna Rao, CEO MarkerOrders