Converge
Fifteen of the world's leading high technology companies and global supply chain participants collaborated to form Converge - an independent online marketplace based in the US.
Download as PDFThe Situation
Converge represents the largest online trading community for 180 global high-technology
product families, with the logistics and operations capability to buy, sell and
move products. In excess of 20,000 trading partners can access more than 10 billion
items valued at over $30 billion via Converge.
Envisioning a world in which inventory is consigned to history, founder members had a simple vision for Converge: “by the industry, for the industry”
Business Issues
High technology is among the world’s most global sectors - only initiatives that
match that scale can succeed. Converge was potentially one of the world’s largest
B2B (Business to Business) marketplaces, and the vision for Converge was for:
- Buyers to transact and collaborate with suppliers and reduce inventory
- Suppliers to reach new customers and markets and reduce cost
- Brokers, Dealers and Distributors to enter a high-velocity, high-liquidity, global market with minimum investment.
Starting from a full suite of online auction tools, Converge was committed to Open standards so that its service offerings could be easily extended for:
- trading services for online procurement
- order collaboration for integrated fulfilment
- supply chain planning for enhanced inventory visibility
- transport and logistics for aggregated, allocated and managed shipping
- design collaboration to support the entire cycle
- financial and member services for online invoicing, secure transmission, credit control and payment solutions.
