Impact of the Internet on Busi
Business-to-business (B2B) transactions were (and still are for some companies) based on a complex network of inter-connections, with every connection being different for each supplier or buyer. Errors of transactions, such as stock quantity and type, were commonplace. However, the Internet has provided a means, compared to EDI (Electronic Data Interchange), in making transactions flawless, easier and more profitable. "The Internet and the World Wide Web provide significant opportunities to make business-to-business more effective and efficient. The impact ranges from cutting the cost of paper and mailing, to shortening the time-to-market of products due to better supply-chain management"Segev has provided the most appropriate explanation of just what the Internet is doing to business-to-business commerce. The Cisco Systems Inc. website is a prime example of what can happen when the barriers of information, product and services are eliminated. [1] Before the website the order and delivery system seemed almost primitive.(2) 1 in 3 were rejected due to errors,
[1] However Cisco had to spend $15m in 1 year on enhancements, maintenance and up-keep of the site. The Internet has allowed for the provision of information on (and the ability to purchase) products from many companies. (1) maximum order-to-delivery is 3 days, (2) impossible to enter mistakes on order, (3) a delivery date can be provided by 1 hour of the submittal,(4) orders, payments and reconciliation of returns against invoices can be tracked. [6] On the business-to-business commerce: Selling of products (e. The increase in absence of the more traditional slow paper ordering system has reaped benefits for everyone involved. Their savings have amounted to $230m a year. Their most significant to date was that of intelligo. They accounted for only a small fraction of the Internet Commerce [which amounted to $433billion worldwide] in 2000 and are not representative of all B2B Internet commerce, which grew substantially in 2000". The problem as arisen due to companies rushing to start e-marketplaces without any clear strategy. Following the lead of companies such as Cisco and Dell may not be feasible for some companies. [7] These marketplaces vary, from selling business products and services; e. [4]With, "E-marketplaces handling as much as half of this commerce". com, [3] "E-marketplaces bring together suppliers pre-approved by each buyers' purchasing department, ensuring employees don't but the wrong item and trimming the cost and time it takes to process orders". [5] Its purpose was to increase efficiency during procurement and sales of goods.
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