Electronic Commerce
Friday, December 10, 2010|
adminElectronic commerce, commonly known as e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage.
The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail as well.
Electronic commerce is the use of computers to facilitate the firm’s operations
- internal (finance, marketing, manufacturing, ...)
- external (customers, suppliers, government, ...)
Electronic Commerce Benefits
- Improved service, especially to customers
- Improved relationships to suppliers and the financial community
- Increased return on stockholder and owner investments
Electronic Commerce Constraints
- High costs
- Security concerns
- Immature or unavailable software
New Electronic Commerce Era
- Instead of specialized software, firms are designing systems to use Internet Browsers
- Making a common interface for customers and electronic commerce partners
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Management Information System
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