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In economics, disintermediation is the removal of intermediaries in a supply chain, or "cutting out the middlemen". Instead of going through traditional distribution channels, which had some type of intermediate (such as a distributor, wholesaler, broker, or agent), companies may now deal with every customer directly, for example via the Internet.〔 Disintermediation may decrease the cost of servicing customers and may allow the manufacturer to increase profit margins if total costs are actually decreased by eliminating distributors or resellers. Disintermediation initiated by consumers is often the result of high market transparency, in that buyers are aware of supply prices direct from the manufacturer. Buyers may choose to bypass the middlemen (wholesalers and retailers) to buy directly from the manufacturer, and pay less. Buyers can alternatively elect to purchase from wholesalers. Often, a business-to-consumer electronic commerce (B2C) company functions as the bridge between buyer and manufacturer. To illustrate, a typical B2C supply chain is composed of four or five entities (in order): * Supplier * Manufacturer * Wholesaler * Retailer * Buyer It has been argued that the Internet modifies the supply chain due to market transparency: * Supplier * Manufacturer * Buyer ==History== The term was originally applied to the banking industry in 1967; disintermediation occurred when consumers avoided the intermediation of banks by investing directly in securities (government and private bonds, and stocks) rather than leaving their money in savings accounts. The original cause was a U.S. government regulation (Regulation Q) which limited the interest rate paid on interest bearing accounts that were insured by the Federal Deposit Insurance Corporation. It was later applied more generally to "cutting out the middleman" in commerce, though the financial meaning remained predominant. Only in the late 1990s did it become widely popularized. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「disintermediation」の詳細全文を読む スポンサード リンク
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