Electronic transaction processes on agrifood markets: experimental experiences and evaluation

Electronically supported transaction processes may lead to efficiency gains and cost reductions enhancing the operational effectiveness. Electronic trade systems improve coordination between buyers and sellers and increase transaction efficiency. The paper shows an exemplary agrifood market with a comparatively high level of inefficiency where electronic trading could benefit participating enterprises. The benefits derive from improved transaction efficiency, which is shown in experiments by comparing traditional transaction processes with electronic trading in an SME market. The experimental results show major gains in transaction process efficiency for both buyers and sellers in electronic trading. The experiments further covered the support of interactive media in online negotiations. The level of excellence was best for video support.