Future Perspectives Of E-Commerce - 550 Words

The Development And Future Perspectives Of E-Commerce (Term Paper Sample) Content: THE DEVELOPMENT AND FUTURE PERSPECTIVES OF E-COMMERCEName:Class:12th August, 2013 E-commerce is the conduction of business and commercial affairs through electronic means. Electronic means ensure that companies are competitive and efficient in terms of production. The high level of e-commerce in the current business environment has not come instantaneously, but, there has been continual evolution. The centre of this evolution is technological advancement and globalization, two factors that have reduced the world to be in the form of a business village due to the ease in which operations are done. A sense of enhanced competition exists between various companies as they struggle to cope up with the high demands of the technology era. This essay outlines the development and future perspectives of e-commerce. Being a large topic, the evolution of supply chain management is discusses as a component of e-commerce.Supply Chain Management (SCM) is a concept in e-commerce con trolling the movement of goods into and out of a company. Various companies (supply chains) synergize their efforts for a successful venture, so that at the end there is free-flow of goods from the producer to the customer. Previously, supply chain management was more of a manual affair characterized by inefficiency and customer dissatisfaction. With time, trends have changed, and this venture has been transformed into an efficient and successful venture. The contemporary information and technology revolution has spearheaded the success of most companies. By so doing, SCM has also been changed positively. There is automation and a sense of technology about the whole process. The Internet further ensures that business operations have gained momentum and become faster. Online trading companies began from the late 1990s, thereby enhancing technology in the business arena. With each year, paper transactions are becoming obsolete affairs. Technology connects various companies globally, Manufacturers, suppliers, retailers and consumers now connect with ease, and this has made SCM a more successful venture than in yester years. Previously, some companies dominated the domestic arena, but, with globalization, new companies continue entering the fray. There is no monopoly of affairs for this reason. All these factors also affect customer preference. Previously, customers had limited products, but due to massive competition, there is a wide array of products to choose from. Customers now demand quality services and fast delivery, failure to which they seek the services of other companies. The advent of top notch technology in the supply chain has totally changed good handling and service remittance in the commercial sector. Manufacturers now handle a big volume of goods and services. The challenge exists in companies being able to keep up with the fast pace of globalization and technological advancement. Supply chains now must be equipped with high level technology a nd competent members of staff. Failure to do this compromises their performance. Monopoly in business is now an obsolete affair. Companies must now embrace competition. Companies intending to thrive in business must be ready to adjust to the harsh economic realities of the cont...