ITM 350 Chapter 1: ITM 350 Chapter 1 Notes.docx
Document Summary
Internet is a global network based on a common digital communication standard. Trading exchange is an online marketplace, usually on a website, that enables suppliers and customers to carry out their business electronically, often using auctioning techniques. The supply chain is the set of processes that encompasses purchases of raw materials or resources through to the final delivery of a product or service to the end consumer. A bank having automated teller machines (atm s) E-business is often defined as any business carried out in electronic form. Electronic data interchange (edi): a structured way of creating electronic forms that can be transmitted between trading partners to execute business transactions without the need to generate any paper. E-business: is the strategic use of technology, particularly the internet, to integrate and streamline the business processes, enterprise applications, and organizational structure of a business to create a high- performance model.