The Enterprise resource commerce is self explanatory, which means Enterprise resources or information ( procurement, Accounting, Production, Shipment, Quality control, Quotations) , conducting commerce with outside entities using information or out puts (sale pricing of a commodity) .
Now let us look at the components in ERC(which is a unique concept) along with its brief explanation
The Explanatory Formula For ERC, is as Follows:
ERC = E Commerce + Enterprise resource planning
E Commerce portals are commonly involve an electronic display of inventory with an interface to the commercial end which is Financial gateway.
ERP component in ERC involves Forecasting the demand based on usage, Repeat delivery or blanket order processing, Order replenishment or communicating demand to the customers, Material planning. This can be applied to Manufacturing firms which can directly sell to End users ( who always require smaller quantities ) with out a need for #Stockists, promoting Cashless transactions and Non Stocking supply, a foundation for Lean Commerce.
The ERC can be termed as an Intelligent ERC when it is coupled with algorithms which predict Buying patterns based on Buyer demographics ( intelligent forecasting) or factors dictating buying patterns ( Economic environment, Geo Political situations, National Business Policies and climates, seasonal fluctuations, Supply levels in the market etc).
This Intelligent Forecasting leads to an ERC becoming an #Intelligent ERC, which will conduct automatic communication to the E Store suppliers resulting in automatic E Store stock displays and automatic demand adjustment based on sales. In brief the Intelligent ERC means a Robotic E Commerce Portal, this will be the future and can be in operation as early as 2020.
This operates with least Human Intervention which means we may have lesser needs for Supply Chain personnel, expediters, Stocking Locations, Accountants the E Commerce will be Further Automated and we can simply call ERC as a Supply Chain Management Robot.
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