Virtual Market Using Logistics Optimization

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Executive Summary

In this paper the authors have proposed an idea called virtual marketplace that effectively utilizes the widespread and vast cellular phone infrastructure and the recent advances in sensor technology, leading to tremendous cost and time saving. This idea takes virtual markets to a new level of evolution, with unparalleled customer convenience, speed, quality assurance and reliability. Almost every item such as books, electronic goods, milk, vegetables, televisions and food items can be traded using this virtual market. Some of the key features are: Wireless communication-enabled real-time inventory and logistics optimization, quality control, delivery people-human employees to pick up and deliver products and real time authentication of transactions.

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