Question

nalyze the different technology applications in purchasing and determine which is the most valuable to the greatest number of users. Explain your rationale. Anticipate what technologies will appear in the next ten (10) years and the impact they will have on the purchasing function. Provide (theoretical) examples to support your response.

Answer 1

The most famous purchasing application in today's market is e - commerce. It had simplified the purchasing market by connecting consumers and sellers. Sellers can directly sell their products to consumers without any interference of retailers / shopkeepers and reducing many middlemen from between which reduces the prices of consumers. It actually raised the aggregate demand in the economy while the shopkeepers and retailers are not happy with this market as their income have reduced. In the last 5-7 years, it has achieved great momentum that they have a customer base now.

In the next 10 years, with the help of automation, cutting edge technology, e-commerce will be so advance in future such that they will automatically detect one individual preference and order clothes for them whenever they need it. They will automatically match the combinations of clothing and apparels for you as per your likes / dislikes. Food ordering applications will automatically order food for you when you are hungry. So, purchasing market is so simple now and it will be more simple in future.