• Electronic
exchange:
– Electronic
forum
where
manufacturers,
suppliers,
and
competitors
buy
and
sell
goods,
trade
market
information,
and
run
back‐office
operations
• Private
exchanges:
– Owned
and
operated
by
a
single
company
• Consortium-‐operated
exchanges:
– Run
by
a
group
of
traditionally
competing
companies
with
common
procurement
needs
• Independent
exchanges:
– Open
to
any
set
of
buyers
and
sellers
within
a
given
market