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(Nikkei BP Group)

(No.1 High-Tech News Site in Japanese)

  • Samsung Electronics to Purchase Raw Materials Online
  • March 8, 1999 (SEOUL) -- In a bold move to expand its business on the Internet, Samsung Electronics Co. said it will begin to purchase products and raw materials online.
    "We have ordered all our subsidiaries, both at home and abroad, to shop for all needed goods through the Internet," a company official said.

    "As a result, we expect to cut expenditures by an annual 270 billion won. Also, the system will allow the company to hold 30 days worth of inventory, instead of the current 65 this year, and drop the number to 15 days in the year 2000," the official said.

    To make the process easier, Samsung will establish a "glonet" system, which links its 37 domestic branches and seven overseas units, some time this month.

    (Maeil Business Newspaper, Korea)

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    Updated: Fri Mar 5 13:24:15 1999 PDT