Information Technology In Business Essay

2219 words - 9 pages

IntroductionIn a recent article (Anon 2005) it was stated that the Internet has revolutionized business, it has played an instrumental role in transforming the world into a global market and creating what is being called "digital economy". Internet has created opportunities for company to expand their markets, reduce costs, improve efficiency, increase satisfaction and collaborate with partners as well as with competitors. Business-to-Business (B2B) e-commerce is one area where companies can achieve many such efficiencies.B2B e-commerce can be defined as "doing business electronically" or business that is conducted over the Internet. It is most commonly associated with buying and selling information, products and service via the Internet or through the use of private network shared among business partners. B2B e-commerce can also be defined as exchanges of structured messages with other business partners over private networks or Internet to create and transform business relationship. (Wise R., and Morrison D., 2000. Beyond the Exchange: The Future of B2B, Harvard Business School).Of the different classification of e-commerce, business to consumer, consumer-to- consumer, consumer-to-business, business-to-government) B2B e-commerce is the largest and fastest growing. According to Gartner Group, B2B trade is expected to reach $8.5 trillion by 2005 while purchases made via B-2-B e-commerce in the United States are expected to increase at an annual growth rate of 68 percent between 2001 and 2005.The chief executive of Motion Industries has asked the author to write a position paper on key development of B2B e-commerce and its implications on the organization. The position paper will include a review of the current position with regard to B2B and recommendations for the best way forward.Background and Current Situation B2B E-commerce at Motion IndustriesBackground of Motion IndustriesMotion Industries is North America's largest distributor of industrial maintenance, repair and operation replacement parts. Motion Industries distributes bearing; mechanical, industrial automation, electrical, pneumatic and hydraulic power replacement parts; hose and rubber products and industrial supply products. The company has more than 450 operations including nine distribution centers and serves more than 150,000 customers including automotive, chemical, food, beverage, wood and lumber, iron, oil, pulp and paper, steel and textile industries. The supply chain at Motion Industries is shown in Figure 1FIGURE 1: Supply Chain of Motion IndustriesBUY SIDE SELL SIDECurrent Situation B2B E-commerce at Motion IndustriesBetween 1999 to present, Motion Industries has made steps to improve its B2B exchange by1. Replacing its Value Added Network (VAN) Electronic Data Interchange (EDI) network with that of Internet EDI.2. Implementing an Intranet3. Creating a Internet website4. Introducing Email as a form of communicationElectronic Data Interface (EDI)EDI is the electronic...

Find Another Essay On Information technology in business

Information Technology in Society Essay

1892 words - 8 pages Introduction In recent years there has been a big change as revolution in the computer and communication world and all the signs are that technological development and employ of information technology (IT) will continue go on with a fast velocity. Advocating and accompanying the impressive developments in the power and continue employ of latest information technologies has been the communications’ declining cost consequently of both

Information Technology in Construction Essay

1773 words - 7 pages to all parties involves. The relevant inspection and review regarding the project completion need to be done appropriately. IT APPLICATION THROUGHOUT CONSTRUCTION PROCESS Computing and communication technology, also commonly known as Information Technology (IT) have been radically transforming the way we live, learn, work and play. There were tremendous growths in the development of IT applications in construction process since 1980s. Today, a

Information Technology in Education

2844 words - 11 pages Group 4: Alysha Harbour, Susan Noureddine Gerrick Phillips, Azenette Galvan, Yuheng Lai Information Technology in EducationThe greatest first educational application has been around since the 1960's and still is growing. Information Technologies is a great way to help inform students about hardware, software, applications and many important things useful in many school systems today. People that do not have certain software or hardware on

Integrating Information Technology Into Business Operations

1390 words - 6 pages Operating any business without the application of information technology in the modern business world is actually impossible. The world has gone digital and in every sector of economy, entrepreneurs are busy applying information technology systems to run their businesses smoothly. Nevertheless, the invention of information technology and its entrance into business arena has seen, customers demand better services whenever they do business or

Information Technology in Clinical Research

2046 words - 8 pages randomization, electronic data capture and clinical data management to business intelligence and data warehousing. Team collaboration workspace such as SharePoint services and survey systems are also included (Boston Children’s Hospital, n.d.). Clinical Trial Participation Award (CTPA) provides another example for information technology in facilitating clinical trial participation. CTPA was one of the recommend initiatives by the American Society of

Careers In Information Technology IT

1937 words - 8 pages Viewpoints Resource Center. Gale. Apollo Group. 3 Aug. 2008 As the demand for qualified Information Technology professionals continue to increase in demand from an array of fortune five-hundred companies, government, and even medium to small businesses, so will the dependency of IT services. These companies and business have become more aware of the crucial impact that IT services have in keeping programs working efficiently for them. Hence, there

Implementing Change in the Public Sector Information Technology and Business Transformation

2126 words - 9 pages are seen as an end in themselves instead of being part of a wider process to meet departments and agencies overall business objectives. There is widespread recognition that technology in itself does not bring about efficiency (Lenk 1997). IT may provide the core mechanism for information flow and may therefore be an essential element in any business improvement but the processes undertaken by an organisation need to be transformed or

From your perspective, what are the two most problematic pitfalls inherent in business information technology?

563 words - 2 pages From your perspective, what are the two most problematic pitfalls inherent in business information technology?Security is certainly number one in my list for obvious reasons. My company's important and potentially confidential data must remain mine. Initially, copies of important files were transferred to disk or magnetic tape but with the advent of the computer modem and subsequently the Internet, ease of access by unauthorized parties seeking

Information System Technology - How General Electric conducts business using Information Technology

579 words - 2 pages Information Technology comes in.Constant updates of the Information Technology structure allow a large enterprise such as GE, which has thousands of individually numbered assets, requiring an effective, efficient method of monitoring assets. Assets can include a wide variety of items ranging from an engine in a forklift to the forklift itself to the truck on which the forklift loads goods to be shipped to the computer used to track the shipment.The

Implications of Information and Communication Technology for Business

1941 words - 8 pages Implications of Information and Communication Technology for Business Time and geographical factors have a huge affect on the communication methods we use. In the business world time is money, and no matter how far u need to communicate to, it normally has to be done quickly and efficiently. This is where Information Systems (IS) and Information Communication Technology (ICT) have a huge impact on businesses nowadays

Business information technology on predictive analytic models questions answered

1181 words - 5 pages differencing in information. They use existing data to project what information or event will appear next. By analyzing the information on past postoperative patients, Blue Cross Blue Shield of Tennessee's neural network can help predict what resources future patients will need and how long their recovery time and hospital time will be. They can use the information to figure how much it will cost them and what they have to charge to make a

Similar Essays

Information Technology In The World Of Business

1573 words - 6 pages Information Technology in the World of Business Technology has greatly altered the structure and operation of all industries. For the management of any existing business the central question is not whether technology will be relevant to your business, but rather what will we need to do to profit from that change. Technology is evolving many aspects of business and it creates many new business opportunities. During the last ten years

Information Technology And Small Business Essay

675 words - 3 pages AbstractInformation technology can play an important role in helping a small business to succeed. By investing in appropriate equipment and technology, a small business operator can grow productivity and reach new markets. Learning about technologies is important. Planning for acquisition and upgrade of equipment and technology is important. Understanding the useful economic life of equipment and planning for upgrades in line with your business

How Information Technology Affects Business Essay

881 words - 4 pages years ago. We can talk face to face with people while being continents apart, we can find information we need at the touch of a couple of buttons, and in return have become more productive, proficient, reliable, and better planners. Because we have increased our productivity, and improved our performance due to the technology, we have become more profitable as a result.Resources:Ebert, R.J., & Griffen, R.W. (2005) Business essentials (5th ed.) Upper Saddle River, NJ, Prentice Hall.Rooster Graphics International. (2000). Internet use by small business. Retrieved September 29, 2006, from Rooster Graphics website:

How Does Information Technology Change In Business Environment?

1915 words - 8 pages competitive. Market boundaries have become larger and barriers to entry have diminished. In the current turbulent economic environment today's modern organisations must closely examine the way they currently do business not only to remain competitive and profitable but also to simply remain in business (Cameron & Philip, 2001). Information technology is now providing business entities with basic as well as progressive business tools that will enable