In this blog, we take a closer look at how the e-commerce boom is affecting different segments of the supply chain. This blog will help you gain an understanding of e-commerce, 2 way supply chain, the effect of e-commerce on the supply chain, and how it has become a critical part of today’s business.
Supply chain in simple words means the movement of raw material to the factory and the final finished goods to the consumers. This function has been a critical part of the manufacturing industry for ages and is an integral part of the complete product manufacturing set-up. Every enterprise typically manufacturing has a fully integrated supply chain management division ensuring smooth production of goods and seamless as well as timely delivery to the consumers. With the advent of e-commerce, this function has taken an all-new meaning where the functioning of the supply chain can actually ruin or build an enterprise.
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|Popular Supply Chain Management Courses||Popular Project Management Courses|
|Top Operations Management Courses||Top Product Management Courses|
E-Commerce is generally defined as the buying and selling of goods or services over the Internet; it is a commercial transaction conducted electronically on the Internet. Ecommerce has given space and benefit to the firms to establish their market presence and augment the current market position by providing an inexpensive and well-organized distribution for their products or services.
Learn – what is Product Management?
This kind of model is advantageous both for the firms as well as the consumers. Firms save costs on building brick-mortar stores, hiring staff, and other administrative costs. On the other hand, consumers take the benefit of shopping from home and choosing from a wide variety of products. They can buy a product without going to the market or hunting innumerable stores for that one product.
Check out E-commerce and Retail courses.
Supply chain and E-Commerce
E-Commerce is the buying and selling of goods over the Internet. Besides payment between the two parties, it is the movement of goods that also needs to happen in a correct and timely fashion. Hence the need for a supply chain. For businesses to boom in the time of E-Commerce, it becomes the most critical aspect that needs to be quick, uninterrupted, and secure.
The competition is fierce as there are not one or two but hundreds of E-Commerce firms fighting for market share, each identifying and developing unique selling and delivery strategies.
Explore the concept of Quality Management.
Consumers today want quick results. If they can order and have a good delivered at their doorstep today, they would not want to wait for 2 days to have it delivered. They would go with a firm that offers quick and hassle-free delivery.
Understand – what is Project Management?
The 2 way supply chain
E-Commerce works on a 2 way supply chain business from the warehouse to consumer and consumer and back. Yes, an E-Commerce firm offers flexibility to the consumers. They can return a product in case it’s faulty or not of their choice. This in turn leads the companies to also plan and support a reverse chain of getting it back from the consumer to their warehouse.
You may also consider the following courses:
- Logistics and Supply Chain Management courses
- Management Courses
- Marketing Courses
- Sales Courses
- Operations Courses
Critical and Important
The supply chain has indeed become a critical part of today’s business. Initially associated with only manufacturing firms it is now an integral part of all enterprises and especially in the online sale business. There are huge scope and demand for talented professionals in these industries and they are also paid well. A career in this field is indeed an extremely profitable and lucrative option with the boom of E-Commerce.
In case you have recently completed a professional course/certification, then