The two parties can exchange information, including specific data and necessary reports, in a quick and efficient manner. With the aid of this procurement method, information is exchanged more efficiently than with the use of traditional communication channels, and the overall organizational processes are better supported (Best Price Computers, 2010).
f) Electronic data interchange
The electronic interchange of data was the first process of electronic communication, dating back at least two decades, and being itself older than electronic commerce. Electronic data interchange refers to the communications underwent by two or more economic agents in the scope of completing their business operations.
The electronic interchange of data is generally occurring between two economic agents, in which case it is called B2B communications (business to business). The interchange of data is commonly characterized by the exchange of information within the virtual community of data which would traditionally be found in five categories of business documents: "invoices, purchase orders, requests for quotations, bills of lading and receiving reports" (Schneider, 2010).
g) Online marketplaces
Last, the online marketplaces represent virtual communities which bring together buyers and sellers. Within these virtual communities, parties involved in business and trade operations can exchange information, and collect data on the services needed / provided as well as other important features.
An important component of the online marketplaces is represented by the presence and usage of software. In other words, the online marketplaces use software applications to ensure that the participating parties are able to adequately exchange and use information. This situation often raises additional complexities as the marketplace would have to purchase the software applications, incurring as such additional costs. These costs associated with the electronic procurement method would be reflected in the service delivery to the users, meaning for instance that the participants in the online marketplace could be required to pay a membership fee (e-Commerce, 2011).
The final two methods of electronic procurement are simplistic presentations of the wider process in the meaning that the reality presents the individual with various combinations between electronic data interchange and online marketplaces. Countless methods of electronic procurement are created through the combination of the two,...
E-Commerce Communications Electronic commerce or e-commerce is the term used to describe all forms of information exchange and business transactions based on information and communication technologies. There are different types of formal definitions of e-commerce, but the wide scope involved has resulted in many definitions focusing on only certain aspects. A fairly comprehensive definition covers e-commerce from four different perspectives (Kalakota and Whinston, 1997, p.38) - communications, business process, service and
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However, during the little more than 10 years of this research line, contradictory results have been found (Brynjolfsson, Hitt, & Yang, 2002). From the 1970s to 1980s, those companies that invested more in IT suffered a relative setback in the work factor productivity indexes. This paper will discuss the relationship between IT and competitive advantage in following content. We believe that IT is necessary to improve competitive position of
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