Individual essay dang gia bao AEn T321WSB 6 21000444

SCHOOL OF Western Sydney University ASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Dang Gia Bao UNIT AND TUTORIAL DETAILS Unit name: Academic English Tutorial group: Individual Essay Lecturer or Tutor name: Mr Gabriel Ryan Student ID number: Unit number: Tutorial day and time: 21000444 AEn-T321WSB-6 Mon – Tue – Thu 8am-11.30 am ASSIGNMENT DETAILS Title: Discuss the benefits of E-commerce in supply and demand relationship Length Due Date : 1319 words date: 02/02/2022 submitted: 02/02/2022 Home campus (where you are enrolled): Vietnam DECLARATION I hold a copy of this assignment if the original is lost or damaged I hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment I hereby certify that no part of this assignment or product has been submitted by me in another (previous or current) assessment, except where appropriately referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit No part of the assignment/product has been written/produced for me by any other person except where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned I am aware that this work will be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking) Student’s signature: Dang Gia Bao Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not been signed 1 ARO 00380 08/15 Discuss the benefits of E-commerce in supply and demand relationsip Dang Gia Bao Western Sydney University 2 AEn-T321WSB-6 Mr Gabriel Ryan 3 In the last few decades, there have been significant developments in digitalization Hence, numerous industries have been transforming into online businesses, and conventional items like traditional marketplaces are progressively being forgotten as they no longer keep up with technological advancements Convenience is valued highly in today's world, so consumers' need for e-commerce rises However, if supply is not flexible, this may easily lead to an imbalance between supply and demand, making it impossible to connect The assertion was confirmed during the COVID-19 epidemic, when customers faced a pandemic period during which businesses were forced to close due to social distancing, leaving them with the dilemma of seeing their vital products and personal care become gradually reduced Furthermore, because of the advent of e-commerce, during this time, FMCG companies on e-commerce platforms have tried their best to satisfy customers' needs for products, (Chaudhary, 2020) A study by Kim (2020) demonstrated that after the COVID19 outbreak, web traffic to online electronics merchants has surged by 16 percent According to the World Trade Organization, this is a chance for e-commerce to preserve the global economy The creation of e-commerce is the key to usher in a new age of remarkable scientific and technological growth, allowing collection and order to link more readily and build a balanced and long-term supply-demand connection This article will discuss the benefits of e-commerce on supply, demand, and its relationships The ongoing Fourth Industrial Revolution has become a driving factor for global ecommerce growth it is progressively drawing supply because of the benefits it provides, and it is gradually becoming an unstoppable trend that no country can resist According to Whelan & Msefer (1996), supply is described as a seller's activity dictated by their willingness and capacity to supply 4 things and a limitless quantity of a particular good or service available to customers, (Kenton, 2019) The first advantage that e-commerce can provide is that it allows providers to extend their consumer base Customers are no longer confined to a single region or nation but rather the entire world Mason and Harris (2005) claimed that e-business has offered a global platform for individuals and enterprises to network, communicate, contract jobs, and gather data As claimed by (Havinga et al., 2016), Alibaba, a Chinese e-commerce platform, has given services for firms in more than 240 nations worldwide to interact and trade globally Furthermore, Shopee's total average monthly users topped 200 million in 2019, making it the most popular online marketplace in seven nations and the largest e-commerce platform in Southeast Asia, (Heng, 2019) Similarly, some suppliers have built up virtual trade sites on the network platform to continually refine the conventional business structure to meet the trend better and enhance the company's breadth and size In line with Capgemini Consulting, Internet merchants could treble their profit margins or cut prices by 12% compared to other retailers by removing the physical shop and associated running costs of usual merchants Furthermore, the expansion of e-commerce will lower the need for physical store space because suppliers anticipate that instead of physical store ecommerce will diminish the need for physical storage space Companies might pay a trivial fraction of their budget in website development and administration after spending a substantial amount of money on space, employees, or storage, (Baen, 2000; W, C, L, & W, 2000) The benefits and popularity of e-commerce are undeniable today, and it has become an essential instrument for both supply and demand Likewise, the demand here is defined as the rate consumers want to buy a product (Whelan & Msefer, 1996) The buyer's rights are considerably expanded with e-commerce Customers can select things, obtain information, compare costs, purchase goods from any source on the Internet, and request that vendors supply goods that meet 5 their specific needs For instance, as claimed by (Havinga et al., 2016), Taobao, China's largest ecommerce website, owns small retailers with more than 800 million items and over 80 million daily visitors Furthermore, if a buyer is fortunate enough to purchase on special days, over 10,000 supplies provide half-price things E-commerce also aids demand sources in reducing search time by improving customers' access to information and identifying the most competitive rates for items or services (Gupta, 2014) Moreover, customers benefit from the ease of e-commerce since they not have to spend time visiting stores or waiting for payment and so on, they can stay at home and use a computer to access the Internet and order the goods they desire for themselves in a few simple steps E-commerce also employs rich, intuitive interfaces to deliver human-like service interactions around the clock, seven days a week (Jun, Ha, & Johnson, 2020, p 264) According to research by (Sawhney, 1999), Amazon's advantages to a single consumer are about the same whether there are 100 customers or even 100 million because the value to the buyer is mostly time The convenience of e-commerce also resides in the fact that the goods will be delivered to the desired location as quickly as possible, at any time and from any site Alibaba's e-commerce platform is also working on a 24-hour delivery service unaffected by the distance between the vendor and the buyer, (Havinga et al., 2016) Before investing in any platform, including e-commerce, it's critical to understand supply and demand since the relationship is the foundation for success The advantages of e-commerce for the supply-demand relationship, on the other hand, are substantial The ineligible business now can trade without an intermediary, saving money According to (Mehta & Mehta, 2020), e-commerce benefits farmers by allowing them to sell food directly to wholesale purchasers such as corporate supermarkets, restaurants, and agribusinesses As a result, suppliers not have to worry about paying more money to get their items into the hands of demand sources, and demand sources not 6 have to worry about being duped into buying unorthodox phony goods This is also evident when looking at the World Trade Organization's (2009) clothing export statistics, that China accounts for 34% of total global exports while Indonesia accounts for only 1.9% It can be argued that Indonesian SMEs (small and medium enterprises) have successfully marketed their products abroad through ecommerce Furthermore, with the growth and integration of artificial intelligence into e-commerce, suppliers are using analytic approaches to analyze their consumers' wants to market what they require According to Soni (2020), almost 90% of customer contacts will be completed without human intervention by the end of 2021 Well-known websites like Amazon, eBay, Netflix, and Monster utilize these systems, in which purchasers input information such as owners and preferences, and electronics providers respond appropriately to ideas tailored to their requirements, benefiting both parties (Le & Liaw, 2017) Likewise, instead of importing many items, merchants may utilize consumer demand analysis techniques to choose what to provide and how much to offer to avoid block inventory and minimize risk To conclude, e-commerce has become the phrase that everyone understands today, and it has emerged practically everywhere It has a clear benefit for the supply-demand relationship Although there are advantages and disadvantages, if one considers clear-sightedness, it is clear that it is progressively altering the world for the better and more convenient This article discusses various advantages that e-commerce provides for supply and demand, particularly in terms of their interaction In terms of supply, it allows businesses to reach out to a wide range of clients worldwide, and it is inexpensive to create an online store E-commerce also provides an easier and more comprehensive range of products for demand sources Furthermore, it has two significant advantages for the supply-demand relationship: suppliers can now run their own companies without paying extra 7 for intermediaries, and businesses can now employ e-commerce analytic tools to analyze client wants to sell what they need Based on the advantages mentioned earlier, it is reasonable to conclude that the benefits e-commerce provides to the supply-demand connection will be essential components in developing a more robust economy Reference list: Burke, R R (1997) Do You See What I See? The Future of Virtual Shopping Journal of the Academy of Marketing Science, 25(4), 352–360 https://doi.org/10.1177/0092070397254007 Chaudhary, H (2020, July 31) Analyzing the Paradigm Shift of Consumer Behavior Towards ECommerce During Pandemic Lockdown https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3664668 8 Papers.ssrn.com Gupta, A (2014) E-commerce: Role of E-commerce in today's business International Journal of Computing and Corporate Research, 4(1) Havinga, M., Hoving, M., & Swagemakers, V (2016) Alibaba: A Case Study on Building an International Imperium on Information and E-Commerce Multinational Management, 13–32 https://doi.org/10.1007/978-3-319-23012-2_2 Heng, S K (2019, Sep 04) Singapore: Speech by Mr Heng Swee Keat, deputy prime minister and minister for finance, at the grand opening ceremony of Shopee headquarters building, 03 sep 2019, 10.30 am at Shopee headquarters building Asia News Monitor https://www.pmo.gov.sg/Newsroom/DPM-Heng-Swee-Keat-at-the-Grand-Opening-ofShopee-Headquarters-Building Kenton, W (2019) Supply Investopedia https://www.investopedia.com/terms/s/supply.asp 9 Kim, R Y (2020) The Impact of COVID-19 on Consumers: Preparing for Digital Sales IEEE Engineering Management Review, 48(3), 212–218 https://doi.org/10.1109/emr.2020.2990115 Le, T., & Liaw, S.-Y (2017) Effects of Pros and Cons of Applying Big Data Analytics to Consumers’ Responses in an E-Commerce Context Sustainability, 9(5), 798 https://doi.org/10.3390/su9050798 Mason, K., & Harris, L C (2005) Pitfalls in evaluating market orientation: an exploration of executives' interpretations Long Range Planning, 38(4), 373-391 https://doi.org/10.1016/j.lrp.2005.04.007 Mehta, S., & Mehta, U S (2020, April 14) Enable e-commerce to disable Covid-19 The Economic Times https://economictimes.indiatimes.com/blogs/et-editorials/enablee-commerce-to- disable-covid-19/ 10 10 Moertini, V S (2012) Small Medium Enterprises: On Utilizing Business-to-Business e-Commerce to Go Global Procedia Economics and Finance, 4, 13–22 https://doi.org/10.1016/s22125671(12)00316-4 Sawhney, M & Kaplan, S (1999), The emerging landscape of business to business E-commerce Business 2.0 Magazine https://www.researchgate.net/publication/228357013_The_Emerging_Landscape_of_Busine ss_to_Business_E-Commerce Soni, V D (2020, July 11) Emerging Roles of Artificial Intelligence in Ecommerce Papers.ssrn.com https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3648698 Whelan, J., & Msefer, K (1996) D-4388 ECONOMIC SUPPLY & DEMAND https://ocw.mit.edu/courses/sloan-school-of-management/15-988-system-dynamics-selfstudy-fall-1998-spring-1999/readings/economics.pdf 11 11 Yun, J L., Ha, S., & Johnson, Z (2019) Antecedents and consequences of flow state in e-commerce The Journal of Consumer Marketing, 36(2), 264-275 http://dx.doi.org/10.1108/JCM-102015-15799 Zhang, D., Zhu, P., & Ye, Y (2016) The effects of E-commerce on the demand for commercial real estate Cities, 51, 106–120 https://doi.org/10.1016/j.cities.2015.11.012 12 12 ... 08/15 Discuss the benefits of E-commerce in supply and demand relationsip Dang Gia Bao Western Sydney University 2 AEn- T321WSB- 6 Mr Gabriel Ryan 3 In the last few decades, there have been significant... Towards ECommerce During Pandemic Lockdown https://papers.ssrn.com/sol3/papers.cfm?abstract_id= 366 466 8 8 Papers.ssrn.com Gupta, A (2014) E-commerce: Role of E-commerce in today's business International... Marketing, 36( 2), 264 -275 http://dx.doi.org/10.1108/JCM-102015-15799 Zhang, D., Zhu, P., & Ye, Y (20 16) The effects of E-commerce on the demand for commercial real estate Cities, 51, 1 06? ??120 https://doi.org/10.10 16/ j.cities.2015.11.012