GLOBAL E-COMMERCE PROBLEMS AND THE SOLUTION TO THEM

chikky08 (46)in #blockchain • 6 years ago (edited)

INTRODUCTION
Globally, e-commerce has become a multi-billion dollar venture. It is estimated that by 2025, the value of e-commerce could climb above 300 billion US dollars. That is staggering! That means that e-commerce will be bigger than the economy of many countries around the world.

However, like every lucrative venture, e-commerce is plague with many problems. Most of which are avoidable under proper managerial condition.

PROBLEMS
Some of the problems include:
● supply chain problem: the supply chain in today's e-commerce world is cumbersome and lacks transparency.

● Inventory problem: detailed and proper record in th supply chain is lacking. Inventory management in the current system is expensive and tedious; and in some instances, non-existence.

● Inadequate monitoring of products and services: tracking and recall of goods and services is highly difficult in today's e-commerce industry.

Without proper tracking of goods and services, detection of fake and counterfeiting products become almost important. In 2016, about 460 billion dollars worth of fake goods were bought and sold. This is due largely to the inability of the e-commerce sites to properly monitor such occurence. Amazingly, some of the world’s e-commerce giants like Aliexpress, Amazon, ebay, Alibaba etc top the list.

Additionally, the shortcomings in the supply chain system cannot be effectively managed without proper monitoring and tracking regime from the point of order to the time the consumer receives the product.

SOLUTION

Solution to the current e-commerce problems
A new company called VANIG has come up with innovative solutions that will revolutionise the e-commerce world. The solutions will not only eliminate most of the problems but also ensure that consumers enjoy more for less.

Vanig has come up with a robust solution to problems facing the e-commerce world.

Firstly, the firm designed an ingenious way to reduce the high number of middle men in the e-commerce system thus reducing the cost incurred by consumers. Hence, ensuring that consumers get quality product with less cost.

Vanig utilises blockchain technology. This technology ensures that inventory problem is solved permanently. It ensures that information like consumer ID, vendor ID, purchase data, product ID, distribution agent ID, unit price, tax, number of unit, date shipped and so on, are available to all the parties involved.

The benefit of this is enormous. First, It ensures that any anomaly in the supply chain is detectable and traceable. Counterfeiting can also be detected through information provided.

By integrating radio frequency identification (RFID) with vanig’s system, goods can be monitored in real time. Thus giving consumers control over their products.

Through the combination of advance technology and robust managerial expertise, the company is positioned to clean up the ills in the e-commerce business.

SUCCESS FACTORS

Why do I think Vanig will make success of its operations?
● Solution providing: businesses deal with human. In order to ensure successful human-business interraction, such contact must provide solution to an existing problem or meet existing needs.
TOKEN INFORMATION
Website : https://vanig.io/?utm_source=btt&utm_medium=bounty&utm_campaign=toplink

white Paper : https://vanig.io/latest-whitepaper

ANN : https://bitcointalk.org/index.php?topic=3252952

Facebook :https://facebook.com/vanigplatform

Twitter :https://twitter.com/vanigplatform

Telegram : https://t.me/VanigPlatform

The e-commerce industry is plagued with lots of ineffectiveness and avoidable errors. These are what prompted Vanig to design an elaborate system to combat such ineptitude.
PARTNERS

● Technology: is the driver of successful businesses in the 21st century. Vanig employs the best technologies in her operations.