E-Commerce-In Vogue
E-commerce can be more than a technology, and if used and implemented as a strategic tool, it can provide organizational gains.
E-commerce is one of the most exciting economic and technological trends of recent years. It provides a new marketplace, more opportunities to sell and market the product, and greater competitive advantages. E-commerce if used as a strategic tool can provide organization benefits through gains in productivity, market share or even bottom line profitability.
On generic conditions, e-commerce refers to any process of delivery of information, products, services or payments via telephone lines, computer networks or any other means. To this definition, we can also add any support for business transactions provided over a digital interface because most firms use the web as a format to work through intranets and extranets. E-commerce is not just a new technology but a new way of doing business.
The “E” word, as someone put it recently, has overshadowed all other letters of the alphabet in the world of business.
A manufacturing company, say an automotive accessory unit, can adopt e-commerce as a way of linking itself forwards and backwards into its supply chain. At its simplest level, this means being electronically available to vendors, dealers and end-users 24 hours a day. An email connection is a good place to start. It can be developed into a route for electronic data interchange as a next step. The most important and frequently wanted information for any manufacturer or dealer is the order status. When the next supply can be expected with certainty is the question uppermost in the minds of any downstream partner in the supply chain relationship.
The impact of e-business on the working of organizations extends far beyond the traditional definition of commerce, although the impact on different sectors and firms is bound to be varied.
The most fundamental and the first is the change in attitudes towards sharing information. To work really well, e-commerce demands information literally at your fingertips. At the click of a mouse, for example, the automobile manufacturer should be able to find out sources, prices and delivery schedules of all sorts of components. For this to happen, his production schedules and plans must be transparent to the vendors. Their production capabilities should be similarly transparent to the car or truck maker. This is just one example.
The key to reducing transaction costs is reduction of time to access, compare bargain and finalize contracts for selling and buying. The machine provides access and incredible speed with ease, and equally to all those who acquire it. How well it is exploited depends on the parties to the transaction appreciating the value of time and prompt information to both sides. This is precisely where the Government influenced sectors will have a significant advantage.
E-commerce can be more than a technology, and if used and implemented as a strategic tool, it can provide organizational gains.
E-commerce is one of the most exciting economic and technological trends of recent years. It provides a new marketplace, more opportunities to sell and market the product, and greater competitive advantages. E-commerce if used as a strategic tool can provide organization benefits through gains in productivity, market share or even bottom line profitability.
On generic conditions, e-commerce refers to any process of delivery of information, products, services or payments via telephone lines, computer networks or any other means. To this definition, we can also add any support for business transactions provided over a digital interface because most firms use the web as a format to work through intranets and extranets. E-commerce is not just a new technology but a new way of doing business.
The “E” word, as someone put it recently, has overshadowed all other letters of the alphabet in the world of business.
A manufacturing company, say an automotive accessory unit, can adopt e-commerce as a way of linking itself forwards and backwards into its supply chain. At its simplest level, this means being electronically available to vendors, dealers and end-users 24 hours a day. An email connection is a good place to start. It can be developed into a route for electronic data interchange as a next step. The most important and frequently wanted information for any manufacturer or dealer is the order status. When the next supply can be expected with certainty is the question uppermost in the minds of any downstream partner in the supply chain relationship.
The impact of e-business on the working of organizations extends far beyond the traditional definition of commerce, although the impact on different sectors and firms is bound to be varied.
The most fundamental and the first is the change in attitudes towards sharing information. To work really well, e-commerce demands information literally at your fingertips. At the click of a mouse, for example, the automobile manufacturer should be able to find out sources, prices and delivery schedules of all sorts of components. For this to happen, his production schedules and plans must be transparent to the vendors. Their production capabilities should be similarly transparent to the car or truck maker. This is just one example.
The key to reducing transaction costs is reduction of time to access, compare bargain and finalize contracts for selling and buying. The machine provides access and incredible speed with ease, and equally to all those who acquire it. How well it is exploited depends on the parties to the transaction appreciating the value of time and prompt information to both sides. This is precisely where the Government influenced sectors will have a significant advantage.
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