Word: processing
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Dates: during 1990-1999
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Bezos & Co. conceived an entirely new way of thinking about the ancient art of retailing, from creating a "flow experience" that keeps customers coming back to Amazon's website to read product reviews or one another's "wish lists," to automating as much as possible a complex process that starts when you hit the patent-protected "1-Click" buy technology and ends when your purchase is delivered to your door. The Coffeyville center, for instance, is part of a nationwide distribution network specially designed to handle e-commerce. Half a dozen warehouses like it have been strategically placed...
...being a seller stuck in low-traffic, low-price Bismarck or a buyer shopping in high-cost Manhattan. Auctions also minimize transaction costs ("friction" in e-commerce-speak) and eliminate the need to operate bricks-and-mortar stores. Online auctions "wring out the inefficiencies in the supply-chain process," says FairMarket CEO Scott Randall. They also benefit from Metcalfe's Law (named after Robert Metcalfe, the founder of 3Com Corp.): the value of a network increases by the square of the number of people on it. Every time a conventional online retailer adds a new user, it's just...
...residents' union can give interns a stronger voice to negotiate more humane work schedules and can force hospitals to the bargaining table," wrote TIME contributor Dr. Ian Smith about the board decision last month. Now that process appears to have started - and for America's patients, better-rested, less-harried residents could be just what the doctor ordered...
Triantafillou said this term's council has "accomplished a great deal," but added that it needs to include more Cantabrigians in its lawmaking process...
...need to listen with open minds to those who feel intimidated by the political process," she said...