The e-marketplace--implemented by Commerce One Global Services and Nihon Unisys, a systems integration specialist and an application service provider--enables Japanese utility companies to buy and sell machine parts, materials and office supplies online.
According to a joint statement by Commerce One and SAPMarkets, MarketSet aims to provide powerful applications and integrated business services for collaborative design, planning, procurement and analysis between trading partners.
This promises suppliers seamless interfaces with buyers, exposure to new markets and more standardized processes. Buyers, too, will gain access to new suppliers and benefit from a streamlined supply chain process and lower operating costs.
"To win in this era of accelerating competition, companies need to focus on cost reduction and the rationalization of the procurement process. MarketSet will provide an environment in which our customers can more effectively collaborate with suppliers and manage inventories, while driving costs out of the procurement process," said Japan e-Market president and CEO Harunobu Matsusaka in the statement.
Japan e-Market estimates that its client companies will procure US$3 billion worth of goods and services by the fifth year of operation.
Investors in the e-marketplace include Tokyo Electric Power Co, The Kansai Electric Power Co Inc, Mitsubishi Corporation, Toshiba Corporation, Hitachi Ltd, and Nihon Unisys Ltd, among others.