Supply chain management is thought to be a chain of highly inflexible events that have managed to get the products out of the company. This has in turn put the companies at loss due to the firm manufacturing plans and theoretical shipping schedules.
The Internet has proved to be a medium that has stopped the above problems from occurring. A supply chain management that is supported by the internet assists companies in the following ways:
- It avoids disasters that might cost the company.
- It reduces the above the head administrative.
- It reduces the unnecessary record and hence assists in the deposition of capital.
- It decreases the number of people and hands that are involved in the manufacturing of goods and are ultimately responsible for its delivery.
- It eradicates outdated processes of business.
- It harvests cost-cutting and benefits that produce revenue.
- It speeds up the rate of production and the response to the customers.
- It acquires profits with high profits on the finalized goods.
The above points conclude that due to e chain supply management, a company can save a lot, improve its customer services and prevent the inventories from getting wasted. For this, it is very important to take care of the internal settings rather than extending the business on the internet; on a larger scale.
Collaborative Commerce
Collaborative commerce can be defined as The online collaboration that takes place employees, competitors, and business partners, etc who might belong to a trading firm or a segment of the industry. This is an efficient and effective method that can increase the chances of the progress of a firm or company be it big or small.
Collaborative commerce is expected to assist companies in building long-term relationships and at the same time reducing the cost that is used up in cooperation matters. It is the experts’ thinking that collaborative commerce is bound to make it easier for small-scale companies to merge or maintain a partnership with the larger companies since the use of an internet server can serve as a data transmitter. It may reduce the requirement of costly private networks or electronic information exchange.
Collaborative commerce has the potential to increase the pace of the cycle of business. For instance, a reputable automobile company that can mechanize the load of paperwork might increase its effectiveness by dealing with all the suppliers in a standardized manner. But this would not work very efficiently since all the flow of paperwork cannot be possibly automated.
Most companies that excel in the human resource department often use collaborative commerce as a source to use to screen the employees and disseminate the information to their clients. (Kenneth, 2004)
Online Auctions and Portals
When an individual thinks about shopping, the first thing that comes to their mind is two options. They are online portals and online auction centers. Both the options are equally beneficial depending on the nature of the customer. While online auction stores are famous for their cheap products, online shopping stores are popular for their quality products, instant delivery, and their availability. These being the reasons, people either go for online shopping stores or online auction stores. However, there are a few more things that an individual needs to be aware of before opting for either of the above-mentioned options.
If a person thinks and believes that he is good at bidding, he should opt for the online auction stores. There is a chance that you might win a quality product at a cheap price however it often happens that the products that a person wins in an auction are rather cheap but used, second-hand, disguised, and of low quality. Hence it should be made sure that the product one is purchasing is new.
If a person is in a hurry to purchase an item, he should opt for the online stores so that they do not pick the wrong or used product. It is also safe to shop from these stores because they have low-risk chances. (Gary, 2008)
Online Community
The online community has two names namely; virtual community or e-community. It is a group of people, who interact with each other through different Media such as newsletters, telephone, emails, or messages. This is not a face to face communication and it is normally common in social, professional, educational, and other classes.
There are many uses to be a part of an online community. They are mentioned as under:
- Instead of planning a meeting at a coffee shop or mall, you can simply assemble at a website. This is more convenient in terms that it does not require the other person to go through the hassle of traveling.
- Instead of having a one-to-one conversation, you can communicate through posting messages to the other person.
- The community does not bind an individual to e there at a specific time. It is always on irrespective of the time. Therefore an individual does not have to pre-plan a meeting or even wait to meet people. They can just log on at whenever time they are free.
- Rather than keeping track of the venue and meeting spots of meetings, events, etc an individual can attend all of the above without going anywhere.
Digital Media
Digital media combines the concept and facilities of digital technology and creativity. There are several sources of a digital library. (Peter, 2007) Some of them are mentioned below:
- Interactive media
- Digital video and production of the film
- Web design
- Creation of images
- Digital photography
- Design interface
- Digital animation
- 3D modeling
- Digital sound technology
- Graphic designs that can be printed as well as used for the internet
References
Gary. Schneider. (2008) Electronic Commerce. Cengage Learning.
Kenneth. (2004) E-Commerce: Business, Technology and Society. Pearson/Addison Wesley.
Michael. H.Hugos. (2003) Essentials of Supply Chain Management. John Wiley and Sons.
Peter. Jordan. (2007) Digital Media. Career FAQs.