FIN4320_Lecture_17_ECommerce_and_Technology(51p)

FIN4320_Lecture_17_ECommerce_and_Technology(51p) -...

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Electronic Commerce &  Information and Technology  Management
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Basics of Electronic Commerce Definitions Electronic Commerce The electronic exchange of business information from one company to another Electronic Data Interchange (EDI) Mechanism for moving electronic business data in a standard format from one company’s system to another
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Basics of Electronic Commerce Different Types of E-Commerce Business-to-Consumer Business-to-Business Purchasing from suppliers Selling to customers Billing and payment
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Basics of Electronic Commerce Traditional EDI Electronic Data Interchange Cross-Industry EDI Very broad, covers basic needs in several industries Industry Convention EDI More specific standard used within an industry Proprietary EDI Independent standard developed by a company for its own use Most are moving to standardized EDI
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Basics of Electronic Commerce Traditional EDI Electronic Funds Transfer and Financial EDI EFT is the transfer of value ACH Credit or Debit Wire Transfer FEDI is the transfer of business information and/or value Payment Initiation and Remittance Information Lockbox Information Invoice EDI is the transfer of information Price Information Shipping Information
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Basics of Electronic Commerce Traditional EDI Factors Influencing the Use of EDI Reaction to a Request from Customer or Supplier “Forced” to use with major trading partner(s) Referred to as EDI spokes Cost Savings and Greater Efficiency Reduces costs Facilitates outsourcing Re-Engineering First in industry to do it to be more productive Often large manufacturers or retailers
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Evolution of E-Commerce Key Issues in E-Commerce Development Technological Deployment Legislative Evolution Social Acceptance Future Development of B2B E-Commerce
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Evolution of E-Commerce Benefits Improved Productivity Reduced Cycle Time No mail delays JIT inventory systems Lower Error Rates Improved Cash Forecasting Acknowledgment You know the other party received the order
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Evolution of E-Commerce Costs Loss of Payment Float Software Hardware Communications Directly or through Value Added Network (VAN) Security
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Evolution of E-Commerce Costs Education and Training Gaining Trading Partner Support Getting trading partners to use EDI Negotiating with Trading Partners
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Evolution of E-Commerce Barriers to E-Commerce Convenience and Tradition of Paper-Based System Versatility of Check Processing System Dual Systems May be Required Initially E-Commerce Capability of Banks Increasing number can handle more complex EDI transactions
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EDI EDI Standards Development of EDI Standards Accredited Standards Committee X12 (ASC X12) Standards of American National Standards Institute (ANSI)
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FIN4320_Lecture_17_ECommerce_and_Technology(51p) -...

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