The Pros and Cons of E-commerce Today - 1795 Words

THE PROS AND CONS OF E-COMMERCE TODAY Introduction Electronic Commerce or e-commerce refers to a wide range of online business activities for products and services(Rosen, 2000). E-commerce (or electronic commerce) is defined as the buying and selling of goods and services conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems. (Anon, n.d.). It also refers to any type of business transaction where the parties interact electronically rather than†¦show more content†¦This is considered virtual because one doesnt have to physically stock the products in a show room where the customer comes to view them. All the business needs to do is have adequate pictures of the product along with a description on their electronic store for their c ustomers to view. This allows the business to stock a wide range of products, and in some cases, they don’t have to physically stock the products. As e-commerce has evolved, businesses are now able to connect their back-end systems to the order processing systems of their suppliers. As a result, they no longer need to maintain large amounts of inventory to fulfill their customers’ needs. This interfacing between the e-commerce business and its suppliers means they never need to face an out-of-stock situation for normal demand. (It is however possible if an exceptionally high demand arises). Because of this interlinking, procurement can become faster, transparent and eventually cheaper. b. Additionally, since the business doesnt have to have a physical store, it can cut down on overheads and thereby reduce on costs since they do not need to employ customer facing staff to assist the customers in a store because functions such as checkout, billing, payments and inventory management are automated. c. Advertising and marketing costs can be reduced by using search engines, social media and pay-per-click (such as with Google) to driver consumerShow MoreRelatedBackground. In The Fast Changing And Increasingly Connected1321 Words   |  6 Pagesas Alibaba and Amazon, rely on the technological innovations and advancements to build their business models and capitalize on them (Burinskiene, 2013). Alibaba was founded in 1999 by a group of 18 people led by Jack Ma. The company provides an e-commerce platform for global sourcing and trading of millions of products in more than 40 categories in more than 190 countries (Alibaba, n. d.). At the end of 2016, the company reported a revenue of $7.669 billion, an increase of 54% year-over-year (AlibabaRead MoreThe New Healthcare Reform Essay919 Words   |  4 Pagesallowing its entire people to receive proper medical attention regardless of income sounds like the fix-all problem for America. The question is why is it not an option? Canada has a universal healthcare plan which reaches its 33 million people. The cons to this program means the doctors are paid on a scale and there is less medical equipment which means longer waiting times for special technology. No deductibles or co-pays are required though. The life expectancy for Canada is a combined, six yearsRead More Internet Taxation Essay example1349 Words   |  6 Pagesâ€Å" Internet Taxation,† both the pros and cons concerning Internet taxation are mentioned to establish both views concerning the issue facing the United States people. The conservative or con side on taxes mainly uses logos argument to make their point. 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