Assignment 1 Essay Example | Topics and Well Written Essays - 500 words - 11

Assignment 1 - Essay Example It changes the contract operations from paperwork such as T&C, proofs of delivery, paper invoicing, and contractual documentation to a paperless system. Contract administration becomes automatic because e-commerce is automatic and consequently reduces most manual work that slows down business operation. Evolution of e-commerce enables organizations to focus on customer responsiveness, satisfaction, and performance based on demand and supply (Smith, 2003). The Network Edge integrates infrastructures of buyer and seller that make it easy for multiple buyers and sellers to link up and interact online. E-commerce, therefore, consolidates the functionalities in the transactions the parties involved in business contracts. E-commerce enhances how procurement professionals handle legal rights and steps of creating a valid business contracts and agreements. It raises the stake by presenting accountability of integrity to lawyers, purchase agents, and negotiators. Consequently, through e-commerce integration, clients get high-quality delivery and at the correct prices. Resources and transaction velocity is another e-commerce trend that will change the rules of businesses. It raises customer expectation in levels of service and information availability through speedy marketing and advertisement. Although e-procurement does not support group purchasing for the organizations, it has numerous benefits. Technological change in the 21st century such as e-procurement addresses inefficiencies such as unnecessary buying. Unnecessary buying includes fraudulent, airheaded, and spending without proper scrutiny. E-procurement will change procurement cycle costs that are reducible through efficiency. In addition, positive changes will as well be evident in breach of already negotiated contracts. The other e-commerce trend that the business contracts will enjoy is e-sourcing. E-sourcing is a web-enabled process in which the company