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- iHaveNet.com: Small Business Guide
Real Small Business
The Internet has made it easier than ever for small businesses to track down and work with high-value suppliers. Whether a company needs a carton of printer paper, or is looking to create strategic relationships with key industrial product suppliers, the Internet provides a range of cost-effective options that can help a business purchase more efficiently. Your business can use Web-based purchasing to:
Locate new suppliers
The global nature of the Internet allows your business to locate a broad range of suppliers that can provide you with the greatest value.
Through search engines and other Web tools, you can find information on specific products or services, and reach out to suppliers you otherwise would not be able to track down. Electronic marketplaces aggregate suppliers of a specific product or service (such as health insurance) or within a particular industry, helping you locate one who can best meet your needs. Online business-to-business directories -- such as the Web site of the Thomas Register -- are searchable databases that can be used to hunt for suppliers of tens of thousands of products.
Comparison shop
With a list of suppliers in hand, you can access the Internet to gather additional information that you can use to compare vendors.
Search through Web sites to locate pricing, payment terms, delivery options, and other critical data to help you make informed purchasing decisions.
Explore new procurement methods
The Web has created several new ways for small businesses to buy goods and services.
Aggregators, for example, allow small businesses to post their specific needs for certain services such as health insurance or long-distance phone service, receive bids from suppliers who can meet those requirements, and then choose the best solution. Similarly, online auction sites such as eBay now offer a large number of business and industrial products such as office equipment, industrial supplies, construction gear, laboratory equipment, and more. This can be a cost-effective way to locate both used and surplus equipment.
Improve efficiency
Using the Internet can improve procurement efficiency.
Paper catalogs can be replaced by online catalogs. Purchase orders can be created and sent to suppliers electronically, reducing the time and effort involved in placing orders. Many Web sites allow you to jump immediately to frequently purchased items, saving you time on subsequent orders and invoices. Staples, for example, has a feature that lets you create lists of the product categories you visit most often. These features not only boost ordering speed, but can also reduce procurement errors that are common with paper invoices, further increasing efficiency.
Track performance
Using Web-based purchasing tools can help your business track its spending and purchasing activity.
Data captured by an Internet-based procurement system can be used to analyze purchasing activity, helping you see where your money is being spent. In some cases, this data can be linked directly with your business' accounting software, streamlining your record keeping and helping you keep closer tabs on your cash flow. Finally, buyers can also use this data to gauge supplier performance, which helps businesses link up with those partners who are most beneficial to their strategic goals.
Check out these articles intended to help you out with your business purchases:
Small Business Guide
- Starting Up Your Business
- Coming Up With a Winning Business Idea
- Common Startup Mistakes
- The New Rules for Startups
- Business Incubator FAQs
- Naming Your Business
- Researching Your Business
- Your Personal Savings
- Registration, Licenses, and Permits
- Getting a Tax ID Number
- Fast-Growth Startup Resources
- Structuring Your Business
- Overview: Corporations
- State Offices of Incorporation
- Incorporate Out of State?
- Writing a Partnership Agreement
- Choosing a Board of Directors
- Basics of a C Corporation
- Basics of an S Corporation
- Basics of an LLC
- Basics of a Sole Proprietorship
- Basics of a Non-Profit Corporation
- Basics of a Professional Corporation
- Basics of a General Partnership
- Basics of a Limited Partnership
- Your Company's Public Relations
- Elements of a Successful Public Relations Campaign
- How to Use Your Press Coverage Effectively
- Press Releases
- How to Write a Successful Press Release
- Sample Product/Service Press Release
- Sample Commentary Press Release
- Sample Event Press Release
- Sample Tips Press Release
- Sample Personnel Press Release
- Effective Competitive Analysis
- Managing Purchasing to Maximize Cash Flow
- Top Six Pricing Mistakes Businesses Make
- How to Avoid Lowering Your Prices
- Bidding Basics
- Hiring Staff
- Creating an Effective Job Description
- Do You Know How to Pick Them?
- Little-Known Hiring Resources
- Classifying Contract Workers
- Tips for Successful Interviewing
- What You Can't Ask in a Job Interview
- New Hire Paperwork
- Small Business Insurance
- Types of Insurance for Small Businesses
- Small Business Insurance FAQs
- Insurance Resources for Small Businesses
- Home Office Insurance: Myths & Realities
- Small Business Resources
- Government Resources for Small Business on the Web
- Resources for Women Entrepreneurs
- Fast-Growth Startup Resources
- Small Business Security Resources
- Taking Time Off
- Your Pre-Vacation Checklist
- How to Take a Vacation
- Learning to Delegate
- Getting Away When You Can't Get Away
- Preparing for Tax Season
- Year-End Planning Tax Savers
- 10 Ways to Pay Less in Tax
- 25 Common Business Deductions and Expenses
- Avoid These Common Errors and Audit Triggers
- Understanding the Home Office Deduction
- Corporate Income Taxes Primer
- Employment Taxes Primer
- Sales Tax Primer
- Sole Proprietorships and Partnerships Tax Primer
- How to Get a Filing Extension
- Year-End Reconciliation
- Getting the Most from Your Accountant
- Developing Accurate Financial Projections
- Cash Flow
- 10 Ways to Help Increase Your Cash Flow
- Cash vs Accrual Accounting
- Bookkeeping and Record Keeping Basics
- Quick Ways to Get Through a Cash Crunch
- Projecting Cash Flow
- Cash Flow Triage
- Getting Funding
- Cash Flow Through Factoring
- Small Business Investment Corporations (SBIC)
- Traditional Funding Sources
- Non-Traditional Funding Sources
- Your Company's Credit
- How to Read a Business Credit Report
- Credit Terms Glossary for Your Small Business
- How to Protect and Improve Your Business Credit Rating
- Give Your Business the Financing Edge
- Employee Compensation
- Employee Benefits
- Bonuses: How To Be Fair
- Workers' Compensation Q&A
- Keeping Workers' Compensation Costs Down
- Payroll Management Choices
- Key Elements of Payroll
- Working with a Payroll Service Provider
- How to Create a Business Plan
Starting Your Own Business - How to Benefit from Online Procurement
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