Digital marketplaces have revolutionized industries such as retail, hospitality, finance etc. They have numerous benefits such as:
- low capital costs as inventory is handled by suppliers;
- optimised supply chains as they can self-correct supply as demand-increases;
- reduced errors in constructions, buying or replacing the right products and installing them in the right way
- increased transparency as buyers can make informed decisions when they evaluate options on performance, cost, and availability.
Today, within the construction sector procurement is a slow, labour-intensive and generally cumbersome process. This is because digital marketplaces are just coming into existence. The emergence of such digital marketplaces creates a huge opportunity for the industry to improve its productivity and…