Final exam Essay Example | Topics and Well Written Essays - 2500 words

Final exam - Essay Example The chain can be single layered Advantages of inter-organisational system in supply chain management For this kind of system the advantages are many. Like in the case of electronic data interchange (EDI) system. Each and every department of the system comes to know about the development Challenges of inter-organisational system in supply chain management Managing different motives and interests: If the objectives of the links of the chains are different from each other, then it becomes difficult to co-ordinate the process. If the objective of one organisation is to cost minimisation and play in volume and the other one’s policy is no compromise with quality and serving the niche market. Then it becomes complicated. Difficulty due to geographic differences: If the links of the chain are scattered across the globe the logistics becomes tough. There are cases where one component of raw material is ready and another component is not then the work gets stalled Answer-2 Digital econ omy is economy driven by digital technologies. It is basically Internet economy or ecommerce. In this system, internet or online channels are being used to do business and getting payment. Different kind of transactions takes place. It can be Business to Consumer (B2C), Business to Business (B2B) or Government to Consumer (G2C). Online retail businesses are the examples of B2C model. Organizations like e-Bay or Amazon .com are following the model. Here retail consumers buy goods and services online and make the payment too in online through cards or bank transfer. In the case of B2B the transaction takes place between two business entities. Metal junction is the example of it. When a sovereign makes payment may be salary, pension or other to the consumers directly, that comes under G2C. Due to many reasons the growth of digital economy is taking place. 1990 onwards companies shifted to e commerce Multi-channel: To develop the business, organization wants to tap maximum possible chan nels. Apart from conventional ways of doing business, they are trying a new avenue. Low cost virtual market: Online market is not the actual market rather a virtual market. It is being loved by the younger generation. As it does not require maintaining the establishment or infrastructure of the shop or the market it requires less cost compared to actual physical market. Accuracy and Quick Response: In the online business intermediaries have a role to play. Neither business owner nor end buyers like to go through intermediaries. As direct communication is taking place, accuracy and quick response is ensured. That saves cost from both ends. Online Banking and International and Multiple-Currency Banking: Online banking has revolutionised the system of online transaction. When the system came where international multiple currency transaction took place it became the whole process further easier. Debit card and credit card have become part regular life. Even today no good organisation is there who does not have a digital wing. For some it is an online selling unit or for some it is only a website .However, Digital economy is the future of the world. As the number of internet user is increasing day by day it is expected that the online business will surpass the physical business volume soon. Answer -3 Client department is one of the most vital departments among organizations. Hardly any organization can survive without servicing their clients. Business always runs with the help of repeat customer.