1. Vendors could have a wider access to customers across the globe.
2. This helps to minimize the cost of operating business due to direct distribution of goods to end consumers thanks to minimum invention of intermediaries.
3. Vender could interact with multiple buyers and sellers.
4. Business concerns could orient marketing efforts towards targeted customers.

1. Shippers (Users of logistics),
2. Suppliers (of logistics services),
3. Carriers(rail, road, air, water, pipeline, rope-way),
4. Warehouse providers,
5. Frieght Forwarders,
6. Terminal Operatros (ports, .stevedores etc),
7. Government (regulator of logistics).

SL. No.1 Characteristics Factoring Forfaiting 1. Basis of financing Financing is dependent on exporter's credit standing. Financing is dependent on the availing bank's financial standing 2. Cost Cost is borne by the seller. Cost is borne by the overseas buyer 3. Suitability For transactions of short-term maturity period. For transactions of medium-term maturity period 4. Extent of Financing Only a certain per cent of receivables factored is advanced. Full finance is available. 5. Risk Risk can be transferred to seller All risks are borne by the forfeiter

Impact of E-commerce on buyers:
1. Buyers could have a Global access to information about variety of products and services available in the market.
2. They could buy the products/services round the clock from anywhere in the world.
3. The prices of the product bought through E-commerce tend to be relatively lower than those purchased physically in the conventional shops due to offers and discount, etc.
4. Electronic and software products could be downloaded immediately after purchase through e-commerce mode.
5. Buyers can bargain and negotiate better terms and conditions with respect to Buying knowledge products.

Logistics Management to Supply Chain Management:
1. Logistics Management deals with the efficient management of a static gap between demand and supply whereas Supply Chain Management tries to identify the dynamic nature of the value creation itself such as responsiveness, quality and design.
2. Hence, it aims for an effective management response over the longer run.
3. SCM focuses on profit maximization rather than cost minimization.
4. LM activity is supply driven and SCM is more demand driven.

Logistics is used for the following decisions:
Product design, Plant location, Choice of markets/sources, Production structure, Distribution/Dealer network design, Location of Warehouses, Plant Layout and Logistics, Allocation Design, Production Planning, Inventory Management-Stocking Levels, Transportation-mode Choice, Shipment Size and Routing Decisions, and Transport Contracting, Packaging, Materials Handling, Warehousing Operations.

Factoring Process:
1. The firm enters into a factoring arrangement with a factor, which is generally a Financial Institution, for invoice purchasing
2. Whenever goods are sold on Credit basis, an Invoice is raised and a copy of the same is sent to the factor.
3. The debt amount due to the firm is transferred to the factor through assignment and the same is intimated to the customer.
4. On the due date, the amount is collected by the factor from the customer.

There are primarily two types of franchising:
Product/ trade name franchising:
1. In this type, the franchisee exclusively deals with a manufacturer's product.
2, Examples include Kidzee, French Loaf outlets.
Business format franchising:
1. When a franchisor awards rights covering all business aspects as a complete business package to the franchisee it is called as business format franchising.
2. Examples are McDonald's, Pizza Hut.

(i) Full service factoring or Without recourse factoring :
When a factor agrees to provide complete set of services which includes financing, maintenance of sales ledger, debt collection at his own risk, and providing Consultancy services as and when necessary, it is called as full servicing factoring.
(ii) With recourse factoring:
(1) When the factor does not undertake credit risk, it is known as with recourse factoring.
(2) In case the debtor fails to make the payment on due to date, it is assigned back to the firm by the factor.
(3) Here the responsibility of collecting the amount lies with the selling firm.
(ii) Maturity Factoring :
In this type, the factor agrees to finance the firm only after collecting the amount on maturity from debtors.
(iv) International Factoring :
When the claims of an Exporter are assigned to a financial institution and the finance is advanced on the basis of export invoice it is called as International factoring.

A core activity involves experience, expertise, efficiency and even investment in the field of specialization.
Non- Core activities can be outsourced to outsiders who are specialists in their area of operation.