E Commerce

Electronic 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. Business activities that are strong candidates for conversion to e-commerce are paper based, time-consuming, and inconvenient for customers.  This is why some of the first business processes that companies converted to an e-commerce model were those related to buying and selling. A wide variety 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. Business-to-business (B2B) is a term commonly used to describe commerce transactions between businesses, as opposed to those between businesses and other groups. Business to business e-commerce involve many buyers and sellers because they bring together a large number of buyers and sellers into one trading community. It is argued that B2B e-commerce offers potential advantages for developing countries because it reduces transaction costs in general, and e-commerce transaction costs are less sensitive to distance than in traditional marketing channels. Also, it is assumed that B2B e-commerce is predominantly organized around e-marketplaces in which decisions to buy or sell can be made online. Business to consumer is a form of e-commerce in which customers deal directly with an organization and avoid intermediari ...
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