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Hello, I am looking for someone to write an article on Vital Features of Digital Economy Driven by Digital Technologies. It needs to be at least 2000 words.
Hello, I am looking for someone to write an article on Vital Features of Digital Economy Driven by Digital Technologies. It needs to be at least 2000 words. Inter-organizational system (IOS) is the structure that smoothens the process of automatic information flow between organizations. It is broadly used the supply chain management. For instance, here the back-end department automatically comes to know what the requirement is and what is to be done by observing the performances of front end department. In the system, it keeps the connecting balance between the sale of a finished product and the raw material procured. The chain can be single-layered.
Advantages of the inter-organizational 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.
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 organization is to cost minimization 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 .  .
The digital economy is an economy driven by digital technologies. It is basically an 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 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. The metal junction is an example of it. When a sovereign makes payment maybe salary, pension or other to the consumers directly, that comes under G2C.
Due to many reasons, the growth of the digital economy is taking place. 1990 onwards companies shifted to e commerce
Multi-channel: . To develop the business, the organization wants to tap maximum possible channels. 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 the actual physical market.
Accuracy and Quick Response: In the online business intermediaries have a role to play. . Neither the business owner nor end buyers like to go through intermediaries. . As direct communication is taking place, accuracy and quick response are ensured. That saves cost from both ends.
Online Banking and International and Multiple-Currency Banking: Online banking has revolutionized the system of the online transaction. When the system came where international multiple currency transactions took place it became the whole process further easier. Debit card and credit card have become part of regular life.
Even today the no good organization 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, the Digital economy is the future of the world. .
