Project Deliverable 1: Project Plan Inception E-Commerce ✓ Solved

4 Project Deliverable 1: Project Plan Inception E-commerce St

Opportunity E-commerce is growing rapidly all over the world. The e-commerce business has come to solve the problem of manufacturers and merchants. It is estimated that internet-based firms and companies have an average rate of returns of about 9%. Online transactions and businesses require physical goods, processing goods, shipping the goods, and processing the payments for goods delivered. The above processes can prove to be a vast tussle to any online business.

Both the merchants and manufacturers need to have a system or a company that is taking care of this extra work that comes with online transactions.

Solution The e-commerce company will position itself strategically between manufacturers, web hosting companies, online payments companies, credit cards, and payments agencies such as banks, online buyers, and finally, online merchants. The proposed online system will work to ensure that workers. The system will be user friendly and accessible using various devices and platforms available in the market. The functionality of the system, user-friendliness, ease of doing business, and limited charges of importing and exporting for merchants and customers will indeed prove to be the best e-commerce website in the market.

The system will provide a win-win solution to all business partners and parties involved. Markets The e-commerce numbers are rising now and then with the growth of technology and mobile phone users. The report done in 2019 shows an estimate of 2 billion used online. In the same period, e-retail sales passed the 3.5 trillion-dollar mark. Internet buyers and sellers choose from various platforms.

The market will be vast for our website will be accessible all over the world. The company will partner with international delivery companies and airlines to ensure that our products are distributed to our clients in other countries and continents. Company Information System Both hardware and software are crucial system requirements for an excellent e-commerce system. The system should be able to handle transactions. The technical condition of an e-commerce system requirements should consider traffic the system expects to run, storage capacity, database, and hardware server.

To fully get the hardware system requirement, one will have to ask himself various questions: RAM and CPU expected usage, the number of users expected on the website, and the expected growth of the system. Another consideration to make when choosing the server to buy is the number of API integrations connected with the system. This will also increase the workload and affect the server performance of the system. E-commerce websites and networks work best in relational databases rather than using document databases. Examples of databases used by the course include MYSQL, MS SQL, Oracle database system, and IBM Informix.

The differences between the above database are the owners and providers. Some are open source like MYSQL, while others have to pay to use them like IBM Informix. The security of data should also be considered when choosing the database model to use. The company will have to use a model with scalability for the company users will double in a short time. The online presence and traffic will exponentially grow as marketing continues.

The security of the system should be taken care of by the company hosting the course. The best model for the system would be a hybrid. Some system functionalities should be hosted by the company while other services should be taken care of by the cloud providers. Hybrid systems are cost-effective and also easily manageable.

Paper For Above Instructions

In recent years, e-commerce has become a foundational component of modern retail, revolutionizing the way goods and services are exchanged. The rapid growth of the internet and technology has enabled e-commerce platforms to emerge that facilitate smoother transactions between manufacturers, merchants, and consumers. The primary goal of this project plan is to develop an e-commerce startup company that effectively addresses the challenges faced by traditional retail and provides a seamless, efficient online shopping experience.

Identifying the Opportunity

The opportunity that our e-commerce startup seeks to exploit is built on the observation that manufacturers and merchants face numerous challenges in the realm of online sales. Many businesses struggle with logistics related to shipping, handling online payments, and managing goods inventory. According to a report by Statista (2020), global e-retail sales reached approximately $4.28 trillion in 2020 and are expected to grow to more than $5.4 trillion by 2022. This growth signifies that consumers are increasingly favoring online shopping; thus, businesses must adapt their strategies to remain competitive.

Strategic Positioning

Our e-commerce platform will strategically position itself between several critical stakeholders—manufacturers, web hosting companies, online payment systems, and merchants. By streamlining these interactions, we can create an integrated solution that reduces friction and enhances the user experience. Our objective is to build a user-friendly interface that is accessible across multiple devices and platforms, thereby ensuring ease of use for all parties involved.

System Requirements

To develop an efficient e-commerce platform, technical specifications regarding both hardware and software are vital. A robust system should handle anticipated traffic and processing demands. Factors such as expected user load, RAM, CPU specifications, and storage requirements must be meticulously planned. According to Appedology (2020), the efficiency of an e-commerce system heavily relies on the selection of an appropriate database. Relational databases like MySQL and MS SQL are preferred, as they are better suited for handling complex transactions in a secure environment. Ensuring data security will be paramount, given the sensitive nature of personal and financial information exchanged online.

Hybrid Systems Implementation

The proposed e-commerce system will adopt a hybrid model, in which some functionalities will be hosted on servers owned by our company, while others will leverage cloud-based solutions. This approach not only offers cost advantages but also enables scalability as our user base grows. Hybrid systems provide the flexibility required to adapt to future technological developments and changing market dynamics (Linatoc, 2020).

Market Potential

The potential market for our e-commerce platform is substantial; with an estimated two billion online users globally, the opportunities for growth are immense. By partnering with international delivery services and airlines, we can extend our reach to customers across different continents, ensuring timely delivery of products. Moreover, conducting effective market research can help identify specific consumer preferences and enhance our product offerings, further drawing customers to our platform.

Conclusion

The inception of an e-commerce startup presents a unique opportunity to address persistent challenges in the marketplace. By developing an integrated platform that emphasizes ease of use, strategic partnerships, and robust systems capabilities, we can position ourselves for success in an increasingly crowded online landscape. Executing this project plan effectively will be crucial to harnessing the tremendous growth potential present in the global e-commerce arena.

References

  • Appedology. (2020). Hardware And Software Requirements for E-Commerce Websites. Retrieved from [URL]
  • Linatoc, J. (2020). Build an Ecommerce Database Schema. Retrieved from [URL]
  • Statista. (2020). E-retail sales worldwide from 2014 to 2022. Retrieved from [URL]
  • Chaffey, D. (2019). Digital Marketing: Strategy, Implementation, and Practice. Pearson.
  • Laudon, K. C., & Traver, C. G. (2020). E-commerce 2020: Business, Technology, Society. Pearson.
  • Kourouthanasis, P. (2021). E-Commerce Strategy: How to Build a Profitable Online Store. Shopify.
  • Wang, Y., & Zhang, Y. (2012). The Impact of E-commerce on Supply Chain Management. International Journal of Information Systems and Supply Chain Management.
  • Laudon, J. P., & Laudon, K. C. (2020). Management Information Systems: Managing the Digital Firm. Pearson.
  • Berthon, P., Pitt, L., & Watson, R. T. (2011). E-Commerce: A Strategic Perspective. Journal of Business Research.
  • Hajli, N. (2014). A Study of the Impact of Social Media on E-commerce Adoption. Internet Research.

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