E-Business Exhibits Strong Growth in Q4 of 2002
Feb 9, 2003
According to the latest ISM/Forrester Report On eBusiness carried out in early January 2003, online procurement increased After a flat Q3. The average firm purchased 10.5% of its indirect materials on the Net, an increase of 1.5% over Q3 2002. At the same time, online direct materials purchases jumped 2.9% to 9.4%.
Eighty-six percent of large-volume buyers reported using the Net to procure direct materials. This was a 14.3% rise over Q3. These big buyers purchased an average of 13.4% of their total direct materials using the Net in Q4, which is a significant increase from 7.0% in Q3.
Small-volume buyers and manufacturers also made online purchases. In Q4 2002, 18.3% of small-volume buyers purchased goods through an online auction, a sharp increase from 9.3% in Q3. Manufacturers also showed an increased interest in online auctions, as the percentage using this tool grew from 22.1% in Q3 to 31.3% in Q4.
Buyers continued to increase their use of procurement tools. Forty-three percent of buyers reported using enterprisewide procurement tools in Q4, up 6.7% from Q3. Growth was led by a significant jump by both manufacturers and small-volume buyers.
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