List three of the objectives of a private industrial network.
The objectives of a private industrial network may include to:
• develop efficient industry-wide purchasing and selling business processes
• develop industry-wide resource planning to supplement enterprise-wide resource planning
• create increasing supply chain visibility so that the inventory levels of buyers and suppliers will be known to the participants
• achieve closer buyer-supplier relationships, including demand forecasting, communications, and conflict resolution
• foster operations on a global scale
• reduce industry risk by preventing imbalances in supply and demand, including developing financial derivatives, insurance, and futures markets
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