Electronic Commerce is defined as the buying and selling of products and services over the internet but there are many more aspects. Electronic Commerce is more than just handling purchase transactions and funds transfer over the internet. Electronic commerce is a system that includes not only those transactions that center or buying and selling goods and services to directly generate revenue but also those transactions that support revenue generation.E-Commerce :
Such as generation demand for those goods and services, offering sales support and customer service or facilitating communications between business partner.
Advantages of E-Commerce :Faster buying/selling procedure as well as easy to find products. Buying/selling 24/7 More reach to customers, there is no theoretical geographic limitations. Low operational costs and better quality of services. No need to physical company set-ups. Easy to start and manage a business Customers can easily select products from different providers without moving around physically.
Advantages : E-Commerce provides several advantagesLower Cost to the E-Merchant : The entire financial transaction will eventually become electronic, So, Sooner conversion is going to be lower on cost. It makes every transaction through E-Commerce payment a lot cheaper. Economy : By any standard, E-Commerce is economical. Unlike the brick and mortar environment, thee is no rental of physical store space, insurance or intrastructure investment. Higher Margins : E-Commerce also enables us to move better with higher margin for more business safety. Higher margin also means business with more control as well as flexibility and save time when manual transaction are done electronically. Better Customer Service : E-Commerce means and quicker customer service, Web based customer service makes customers happy. Customer have direct access to their accounts over the web, it saves times. Quick Comparisons Shopping : E-Commerce helps consumers to comparisons shop.Automated online shopping assistants called hopbots Net stores and find deals on everything from appleas auce to printer ribons. Productivity Grains : E-Commerce means productivity grains.Weaving the web throughout an organization means improved productivity. Teamwork : E-Commerce means working together. E-Mail is one example of how people collaborate to exchange information and work on solutions. Growth in knowledge Markets : E-Commerce helps create knowledge markets.Small groups inside big firms can be funded with seed money to develop new ideas. Information sharing, Convinence and Control : Electronic market places improve information sharing between merchants and customers, control is another major driving factor. Customization : Digital products are highly customizable. They are easy to recognise, revise or edit. Coupons and Deals : With every online business wanting you more and more coupons ans deals can't be avoided which are totally great for customers. Rise in Sales : By not managing a storefront any business will have more sales online with a higher profit margin.
Some Major Application of E-Commerce :(1) Supply Chain Management (2) Procurement And Purchasing (3) Online Marketing And Advertisement (4) Online Auction (5) E-Banking (6) Online Publishing (7) Video On Demand (8) Online Booking(Ticket, Seat Etc) # Supply Chain Management : A supply chain is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of these materials into intermediate and finished products and the distribution of these finished products to customers. There are four major decision areas in supply chain management : (1) Location (2) Production (3) Inventory (4) Transformation(Distribution) There are both strategic and operational element each of these decision areas. # Procurement and Purchasing : Procurement refers to the overall process of acquiring a product or service. (i) Specifying the requirements to fullfill the need (ii) Identifying potential suppliers (iii) Soliciting bids and proposals (iv) Evaluating bids and proposals (v) Awarding contracts or purchase orders (vi) Tracking progress and ensuring compliance (vii) Taking delivery (viii) Inspecting and inventorying the deliverable (ix) Paying the supplier (x) Identifying a need # Online marketing And Advertisement : Term referring to the internet and e-mail based aspects of a marketing campaign, such as banner ads, e-mail marketing, search engine optimization, pay-per click, and other tools. Also referred to as "online advertising". # Online Auction : Offer the general public the opportunity to bid electronically on a wide array of assets. The auctions are completely web enabled allowing all register participants to bid on a single item or multiple items within specified timeframes. # E-Banking : E-banking includes familiar and relatively mature electronically based products in developing markets such as telephone banking, credit cards, ATMs, Internet banking and direct deposit. It also includes electronic bill payments and products mostly in the developing stage, including stored-value cards (e.g smart cards/, smart money) and internet based stored value products. Among the products offered are : (i) Fund transfer and payment systems. (ii) Securities placement and understanding and capital market activities (iii) Securities trading and (iv) Retail banking. # E-Tailing/E-Retailing : E-Tailing is the selling retail goods on the Internet. It is the most common form of business-to-consumer(B2C) transaction . # Online Publishing : Electronic publishing includes the publication of newsletter magazine and database and other promotional materials, e-books and the like, making information available for use over computer networks. (i) Low cost (ii) Universal Access (iii) The independence of time and place and (iv) Ease of distribution # Video On Demand : Video on demand is a system where a viewer can watch their favorite videos and movies. The viewer select the movie using telephone call, SMS and web page. # Online Booking : Booking or reserving any travel tickets, events(sports match, musical performance etc) and hotel rooms using n electronics communications
A blog is a personal online journal that is frequently updated and intended for general public Consumption. Blogs are defined by their format : a series of entries posted to a single page in reverse-chronological order. Blogs generally represent the personality of the author or reflect the purpose of the website that hosts the blog.Blog :
Encryption is the conversion of electronic data into another form called ciphertext which cannot be easily understand by anyone except authorized parties. Encryption does not of inself prevent interception but denies the message content to the interceptor. The purpose of encoading a message so that it can be read only by the Sender and the intended reciplent. Encryption systems often use two keys.Encryption :
Public key cryptography is based on the concept of a key pair. Each half of the pair(one key) can encrypt information that only the other half (the other key) can decrypt. One part of the key pair, the private key is known only by the designated owner, the other part, the public key is published widely but is still associated with the owner, key pairs have a unique feature-data encrypted with one key can be decrypted only with the other key in the pair.Public Key Encryption :
In Other Words, it makes no difference if you use the private key or public key to encrypt a message, the recipient can use the other key to decrypt it.Private Key Encryption :
Encryption or encoding information to prevent it from being read by unauthorized parties has been the main use of cryptography since its early beginnings julius caesar for instance used an alphabetical code when communicating with his field commenders.The basic concept of how information is encrypted :
For encryption to work properly, both the sender and receiver have to know what set of rules(called the cipher) was used to transform the original information into its coded form(often called cipher text). Encryption is based on two components an algorithm and a key. A cryptographic algorithm is a mathematical function that combines plain text or other intelligible information> An algorithm is difficult to devise and can be used with multiple keys.
A digital certificate is an electronic "Passport" those allows a person computer or organization to exchange information securely over the internet using the public key infrastructure. An attachment to an electronic message used for security purpose.The most common use of a digital certificate is to verify that a user sending message is who he or she claims to be and to provide the receiver with the means to encode a reply.A digital certificate authenticates the web credentials of the sender and lets the recipient of an encrypted message know that the data is form a trusted source. A digital certificate is issued by a certification authority(CA).Digital Certificate :
Digital certificates are used with self-signatures and message encryption.
Digital certificates are also known as public key certificates or identity certificates.
RSA Algorithm :The Rivest-Shamir-Adleman(RSA) algorithm is one of the most popular and secure public-key encryption methods. The algorithms capitalizes on the fact that there is n no efficient way to factor very large(100-200) digit numbers. using as encryption key(e,n) the algorithm is as follows 1.Represent the message as an integer between 0 and (n-1). Large messages can be broken up into a number of blocks.Each block would then be represented by an integer in the same range. 2. Encrypt the message by raising it to the eth power module n. The result is a ciphertext message C. 3. To decrypt ciphertext message C, raise it to another power d module n. The encryption key (e,n) is made public.The decryption key(d,n) is kept private by the user.The keys for the RSA algorithm are generated the following way : (i) Choose two different large random prime numbers p and q. (ii) Set n equals to p*q[(n=pq)] where n is the modules for the public and private key (iii) Choose any large integer, d, such that GCD(d,(p-1)*(q-1)) = 1 (iv) Find e such that e8d = 1(mod((p-1)*(q-1))) Rivest shamir and adleman provide efficient algorithms for each required operation.
The data encryption standard (DES) is a common standard for data encryption and a form of secret key cryptography which uses only one key for encryption and decryption public key cryptography(PKC) uses two keys i.e. one for encryption and one for decryption.DES uses a 56-bit key and uses the block cipher method which breaks text into 64-bit blocks and then encrypts then.DES :
3DES :Triple data encryption standard(DES) is a type of computerized cryptography where block cipher algorithms are applied there times to each data block.The key size is increased in Triple DES to ensure additional security through encryption capabilities.Each block contains 64 bits of data, There keys are referred to as bundle keys with 56 bits per key.There are three keying options in data encryption standards : 1. All keys being independent. 2. Key 1 and key 2 being independent keys. 3. All three keys being identical. key option #3 is known as triple DES. The triple DES key length contains 168 bits but the key security falls to 112 bits.
International Data Encryption Algorithm is an encryption algorithm developed at ETH in Zurich, Switzerland. It uses a block Cipher with a 128-bit key and is generally Considered to be very secure.It is considered among best publicly known algorithms. In the several years that it has been in use no practical attacks on it have been published despite of a number of attempts to find some. IDEA is patented in the United states and in most of the European Countries.IDEA uses 52 subkeys, each 16 bits long. THe plaintext block in IDEA is divided into four quaters.IDEA :
SCM and CRM.Briefly Explain them :SCM : Supply Chain Management (SCM) is the management of the flow of goods and services. It includes the movement and storage of raw materials, work-in-process inventory and finished goods from point of consumption. A supply chain, as opposed to supply chain management, is a set of organizations directly linked by one or more upstream and downstream flows of products, services, finances or information from a source to a customer. Supply chain management flows can be divided in three main flows. (1) The Product Flow (2) The Information Flow (3) The Finances Flow The product flow includes the movement of goods from a supplier to a customer as well as any customer returns or service needs.The information flow involves transmitting orders and updating the status of delivery.The financial flow consists of credit terms, payment schedules and consignment and title ownership arrangements. There are two main types of SCM software : Planning applications and execution applications.Some SCM applications are based on open data models. CRM : Customer Relationship Management (CRM) is an approach to managing a company's interaction with current and future customers.CRM is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting customer retention and driving sales growth Common feature of CRM software includes : (1) Marketing Automation : CRM tools with marketing automation capabilities can automate repetitive tasks to enhance marketing efforts to customers at different points in the lifecycle. (2) Sales force automation : Also known as sales force management, sales force automation means to prevent duplicate efforts between a salesperson and a customer. (3) Contact center automation : Designed to reduce tedius aspects of a contact centre agents job contact center automation might include pre-recorded audio that assists in customer problem solving. (4) Geolocation Technology or Location Based Services : Some CRM systems include technology that can create geographic marketing campaigns based on customer physical locations, sometime integrating with GPS apps.