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