INFORMATION TECHNOLOGY AND THE INTERNATIONAL TRADE

INFORMATION TECHNOLOGY AND THE INTERNATIONAL TRADE

By

Miss P. PIRAKATHEESWARI, a professor of Commerce

Sri Sarada College for Women (Autonomous), Salem – 16.

Introduction

  Computerization has changed the way we work in the world. No aspect of the business has not been touched by information technology (IT) revolution. This is particularly true of the international law firm where people in different parts of the world, trading with others. International business activities include manufacturing, transport, land, customs and excise duties, the operation of ports, maritime transport, customs clearance and shipping, etc. During these operations, a large number of documents are created and exchanged, many of these documents or information it contains are repeated, while the creation and dissemination of these documents before the advent of computers. hundred hours of work are lost in the repetitive operation, innovations in information technology have revolutionized international affairs, the use of technology in handling and processing of information. Especially in large organizations can save time, reduce costs, and reduce labor and manual data transfer has become not only obsolete but also irrational.

Domains

In international affairs today, there is a maximum value in the following areas:

1. E-procurement

2. Electronic Marketing

3. e-logistics

A modern company aims to maintain a competitive advantage in the market. Contributes to this competitive advantage through their tools for various applications. By adapting these tools in various fields of activity, the organization can gain many advantages in terms of access to a client or a vendor anywhere in the world, the speed of operations, reduce the power rights, etc due to the possible scope of Internet shopping and sales, regardless of geographic location. Internet banking helps the rapid processing of payments and settlement accounts. A website can be a virtual showroom where products can display, demonstrate and sell. This site may also provide a variety of after-sales advice and suggestions, start discussion forums, solicit feedback from our customers and to educate the customer. Computer applications such as Electronic Data Interchange (EDI) also has enabled logistics operations paperless.

1. Electronic Procurement

E-procurement mainly comprises a series of interrelated methods to improve the recruitment process through the use of electronic systems and processes. The need of electronic procurement in the fact that in the globalized world, a manufacturer can provide inputs such as raw materials, components, equipment and supplies in any the world. The manufacturer is in constant supply that can provide quality materials at competitive prices. The Internet has become a favorite hunting ground of the best deals. Small Businesses can purchase tickets through various websites that sell a variety of items. However, for large organizations, procurement and is a systematic process to describe. Here, companies use automated applications to simplify the purchase of production and production of goods and services.

All e-procurement process can be divided into three main components: pre-sales purchasing and payment activities. Pre-sales activities can start with a request for purchase (RFP) generated by the service user and sent to the purchasing department. The platform electronics allows to plan activities to pre-purchase supplier prequalification process. Vendors are invited to register their interest in a presentation established. They are asked to provide information about the organization, resource availability as labor, equipment and monetary resources. letters of recommendation their bankers to help determine its position in the market. A list of current customers were also asked to rate their market base. Selected Providers are recorded and when there is a requirement of their services, a Request for Quotation (RFQ) is sent to them. In case of very large orders, vendors are invited to offer in a bidding process. tools for evaluating the bids to determine the most suitable offers. A number Using the reverse auction company in the announced the conclusion of the auction on your site and ask their suppliers for deals before the deadline. Tenders are then opened and evaluated, before the contract was awarded to the selected supplier with best bid. This process is called a reverse auction, because in this case, the auction for the purchase instead of a sale.

Benefits of electronic procurement

1. Reducing costs
2. Reducing cycle the time of purchase
3. A wider range of suppliers
4. Low rates of assets acquired
5. Reducing costs transaction
6. Less human error
7. Better relationships with suppliers
8. Better compliance with regulations

2. E-Marketing

Internet has changed the way in which the property in exchange for money. It has broken down geographical barriers between buyers and sellers. The Internet allows a manufacturer in India to sell their products to a customer anywhere in the world by the World Wide Web. What is necessary, however, that the buyer have Internet access and has the know-how and the desire to shop online.

Internet provides a very effective platform for marketing mail or e-marketing. E-marketing is to use digital technologies to help sell their products or services. This is different from a traditional market where vendors display their products and buyers can touch and feel the products and negotiate with suppliers. In case of e-marketing, sellers can post photos, videos and specifications of their products. In most cases, prices are also displayed so that buyers have a clear idea about the product and price.

Benefits of E - Marketing

1. 24 * 7 connectivity – The buyer may access the vendor website 24 hours a day, 7 days a week.
2. Less expensive – e-commerce sites can be launched with a very small budget. The costs are the costs involved in Web development, rental web space, hosting and site maintenance expenditure costs.
3. Global – The biggest advantage of the company in the Internet is its scope global.
4. Online Payment Facility – The buyer can make online payments by credit card. This service streamlines operation, ensuring that the vendor payment.
5. Measuring effectiveness – Putting a counter on the site, the seller may have the number of visitors to the site and the number of buyers who actually made the purchase online.
6. Ease of use – The Buyer should not leave the comfort of home or office to purchase goods online. Payment can be made with a mouse click and the products can not be delivered door buyer.
7. Ease of Use – Most e-marketing sites are very easy to use. Buyer is guided through various procedures for acquiring the property line. Many providers have established call centers to be in live contact with the buyer.
8. Personalized service – Site visitors are generally advised to register themselves so that each time they visit the site, they are recognized and provided appropriate services.
9. Creating consumer databases – The seller can maintain a database name, age, address, gender, contact numbers and important dates such as birthdays and anniversaries of online shoppers.

3. Electronic Logistics

e-logistics is the use of Web technologies to support the process of managing storage and transport. E-logistics can distribute torque optimization of routes with inventory tracking and monitoring information.

In international trade and distribution, computerization is slowly but surely stick your hand on all aspects of the business. From the PC business has been available through the Department of Commerce, electronic credit cards, documents as telecommunications equipment, cargo reservation, testing and documentation system, e-freight rates, automated payment of freight loss and reports of computer damage.

There is a large scope of IT application in logistics. In fact, modern supply chains are held together by force team thanks to its ability to transmit huge amounts of data quickly, or make global data available to speed up decision-making.

Because of the advantages offered by IT, many logistics service providers are planning to handle most of their business transactions electronically. In addition, exporters are already using for various activities ranging from e-purchases of goods transport services depend on the network.

Electronic Tools Important  

Shipping companies are willing to encourage their customers to use Internet and have developed a set of tools attractive. The biggest advantage of these tools is that shippers and shipping companies gain by using them. Here are some important tools:

• electronic receipt of information on vessel schedules
• Tracking and tracing of goods
• Project Bill-distance shipping (B / L) Print
• Single data entry of reports
• Exception reports
• make a offer online, etc.

1. Receive e Boat Schedule Information

Shippers may visit a portal logistics to ensure the delivery schedule different routes and choose what suits their supply chains the best. This saves time and effort of shippers. Companies lines also have advantages not informing individual shippers on their travel plans. Currently, the only limitation of this system is that not everyone keeps Portal information on each shipping line, nor all the shipping companies to provide updated information on their sites or related websites.

2. Monitoring and tracing of cargo

The greatest benefit of shippers benefit both the e-logistics is concerned, is the follow-up and tracking of cargo. With e-connectivity they need to spend less time on the research on the status of your shipment and significantly improve its visibility in the chain supply. However, several sites offer different services.

3. Bill of Lading remote printing

The main advantages of this service are to reduce production costs and distribution companies. transmitter gain is fast and error-free reception documents. More and more shippers using this service and require the transmission Simplified transport documents. One reason for this is free transmission load error. Shipping companies normally send the invoice shipment within 48 hours of sailing ships.

4. input reports individual

With the documents aligned system, the format of shipping documents are different standardized. With your information once in a document that will automatically align all the documents. This system saves the repetitive data entry and saves time and costs.

5. Exception information

Carriers around the world, working tirelessly to produce quality products, they also want delivery times reliable. Exception reporting by the shipping company contributes to the sender if there is deviation from the instructions, has been given to the company shipping.

6. In the virtual auction

For ocean freight rates from various shipping companies, the consignor must submit a separate application each sender. Online bidding allows the sender to send consultation rate as shipping many as you want at the touch a button. Today, in an era of streamlining, mergers and acquisitions, the overall needs of the shipper are increasingly complex. online bidding helps to obtain competitive quotes for shipping companies operating in various routes. These multinationals maintain databases dating to choose the lowest rates competitive in different ways.

Conclusion

The technology is evolving at a rapid pace. Several aspects electronic commerce, such as e-procurement, e-marketing, e-logistics use a range of technology products. The life cycle of technology products is very short. We live in an era based on knowledge, where everyone has access to information through the Internet and a variety of other sources of information. However, the market is dominated by the need to translate information into knowledge and use knowledge to improve productivity and efficiency of their business. India had position envied for its leadership in the field of information technology. A series of business solutions in India to develop applications around the world. However, These applications take some time to be implemented in India itself.

About the Author

Miss. P. PIRAKATHEESWARI, Lecturer in Commerce,
Sri Sarada College for Women (Autonomous), Salem – 16.

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