FACULTY’S INSIGHTS
6| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Unlocking the Benefits of Energy Sharing Through Peer-to-Peer Trading
Introduction:
Energy sharing is an emerging trend and a significant development in the field of renewable energy. It is an innovative way to access and share clean energy, while also improving sustainability and reducing reliance on traditional energy sources. With the rise of peer-to-peer
Dr. Manish Kumar Assistant Professor, Department of Operations Management and IT IBS, Hyderabad.
7| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
(P2P) trading and other energy exchange models, it is now possible to facilitate energy sharing between households, businesses, and larger entities. This article will explore the concept of energy sharing and peer-to-peer trading, and discuss the benefits and opportunities that come with this novel approach.
Generating Energy using PV
PV systems use solar panels, which are collections of solar cells typically made of silicon and set on a rigid flat frame. Strings and arrays of solar panels are created by connecting solar panels in series and parallel, respectively. The quantity of DC that solar panels produce determines how good they are. Solar panels should be cleaned of any dirt, debris, or snow on a regular basis, and electrical connections should also be checked. Any shadow on a solar panel can considerably lower its power output since photovoltaics suffer from shade. Although a solar panel's performance will vary, it typically has a guaranteed power output life expectancy of between 10 and 25 years.
Introduction to Energy Sharing and Peer-to-Peer Trading
Energy sharing is the concept of transferring energy between entities or individuals, usually through a distributed energy system. It allows renewable energy sources, such as solar and wind power, to be shared among many users, making it easier for communities to access clean and affordable energy. Peer-to-peer trading, or P2P trading, is a type of energy sharing system that enables individuals to buy and sell energy from each other, without the need for a third-party intermediary. It is an innovative approach to energy exchange, which has become increasingly popular over the last few years.
Benefits of Energy Sharing
The benefits of energy sharing are numerous. One of the key advantages is that it allows individuals toaccess clean energyat alowercostthantraditionalsources. It also encouragestheuseofrenewable energy sources, which can help reduce carbon emissions and improve sustainability. Additionally, energy sharing enables households and businesses to trade excess energy, which can help reduce energy costs and provide an additional source of income. Finally, energy sharing can help to create a more connected and collaborative community, as it encourages individuals to cooperate andshare resources.
The Basics of Peer-to-Peer Trading
Peer-to-peer trading is a relatively simple concept. It involves individuals or businesses acting as buyers and sellers of energy, without the need for a third-party intermediary. In order for it to work,
8| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
users must have access to a platform that facilitates the exchange of energy. These platforms usually use blockchain technology to ensure that all transactions are secure and transparent. Once a user has signed up to a platform, they can then look for energy buyers or sellers. The seller can set the terms of the transaction, such as the price and the amount of energy to be exchanged. Once a buyer and seller have agreed on the terms, the transaction can take place. The buyer then pays the seller directly, with the platform taking a small fee as payment.
Understanding How to Sell Solar Energy
Selling solar energy is an increasingly popular way to make money when it comes to peer-to-peer trading. Solar energy is a free and renewable energy source, and can be used to generate electricity for households and businesses. In order to sell solar energy through a peer-to-peer platform, users must first have access to a solar panel system. Once the system is installed, users can then connect it to the platform and begin selling their excess energy.
Peer-to-Peer Energy Trading Platforms
There are a number of platforms available that enable individuals and businesses to engage in peerto-peer energy trading. These platforms use blockchain technology to ensure that all transactions are secure and transparent. Additionally, the platforms provide users with access to real-time energy data, allowing them to make informed decisions about their energy purchases. Some of the most popular platforms include Power Ledger, Sun Exchange, and SolarCoin.
Case Studies of Peer-to-Peer Energy Trading
In order to gain a better understanding of peer-to-peer energy trading, it is important to look atrealworld examples. One such example is the Brooklyn Microgrid, a community energy sharing platform that allows local energy users to trade energy with one another. Additionally, the city of Singaporehas recently implemented apeer-to-peer energytrading platform to help reduce electricity costs and encourage the use of renewable energy sources.
Renewable Energy Trading and the Future of P2P
Peer-to-peer energy trading has the potential to revolutionize the way we access and use energy.As the technology continues to develop, it is likely that more and more individuals, businesses, and municipalities will begin to engage in energy trading. As a result, it is expected that renewable energy sources, such as solar and wind power, will become increasingly commonplace.
9| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
The Benefits of Enabling Peer-to-Peer Trading
Peer-to-peer trading has a number of benefits for energy users. It provides an efficient and costeffective way to access clean and affordable energy, while also reducing reliance on traditional energy sources. Additionally, it encourages collaboration and energy sharing between individuals andbusinesses,creatingamoreconnectedandsustainablecommunity. Finally, it enablesindividuals to generate additional income by selling their excess energy, further incentivizing the use of renewable energy sources.
Conclusion
Energy sharing and peer-to-peer trading are two innovative approaches to accessing and sharing energy. They provide an efficient and cost-effective way to access clean energy, while also encouraging collaboration and sustainability. As the technology continues to evolve, it is expected that more and more people will take advantage of these opportunities, helping to further reduce our reliance on traditional energy sources.re individuals, businesses, and municipalities will begin to engage in energy trading, unlocking the full potential of energy sharing. With the rise of peer-topeer trading, it is now possible to facilitate energy sharing between households, businesses, and larger entities. This article has discussed the concept of energy sharing and peer-to-peer trading, and explored the benefits and opportunities that come with this novel approach.
About author
Dr. Manish Kumar completed his B.Tech in Mechanical Engineering from Biju Patnaik University of Technology, Orissa, India, in 2011 and M.Tech in Industrial Engineering and Managementfrom Indian Institute of Technology (Indian School of Mines), Dhanbad, India, in 2013. He obtained his PhD in Industrial Management from Indian Institute of Technology (Banaras Hindu University), Varanasi, India, in 2017.
He is currently working as an Assistant Professor in Operations & IT Department at ICFAI Business School, Hyderabad, India. Before that he worked under the central government (MHRD-NPIU) project as an Assistant Professor in Mechanical Engineering Department at Bhagalpur College of Engineering, Bhagalpur, India. He has published a number of research papers in peer reviewed journals and conferences, and also he has successfully completed two MHRD sponsored projects. His areas of interest include Energy Policy, Energy Economics, Optimization and Decision Science
10| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
11| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
CORPORATE ANGLE
Mr. Sumeet Jain
Hotstuff Events and Repro Pvt
Logistics Management: How It Can Help Your Business Gain a Competitive Edge
Logistics management is a complex but essential process for businesses looking to gain a competitive edge. It involves the coordination of resources, people, and information to ensure that goods and services are delivered efficiently and on time. By streamlining this process, businesses can reduce costs, increase customer satisfaction, and maximize profits. Logistics management not only helps you stay ahead of the competition, but it also allows you to focus on what you do best: providing the highest quality products and services to your customers. By developing an effective logistics management strategy, businesses can ensure that their clients receive their orders on time, in the desired condition, and at the lowest possible cost. This will give them the edge they need to stay ahead of the competition and succeed in their respective industries.
What is logistics management?
Logistics management is the process of planning and executing the flow of goods and services between the point of origin and the point of consumption. It is also referred to as supply chain management, distribution management, or transportation management. While logistics management can be looked at as a single process, it is actually a network of interrelated disciplines, such as procurement, inventory management, production planning, distribution, inventory control, warehousing, and transportation scheduling. Logistics management is a critical component of any business’s operations. It covers all aspects of the supply chain, from procurement to delivery, to ensure that products are delivered as efficiently and cost-effectively as possible. This includes managing inventory, making sure that production is maximized and does not exceed demand, and reducing supply chain costs through effective transportation management.
Ltd. HOD-Events
12| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Benefits of logistics management
1. Improved customer satisfaction - Customers are more likely to remain loyal to a company that provides reliable, consistent service. A logistics management strategy can improve customer satisfaction, helping your business to retain its current customers and acquire new ones.
2. Reduced costs - By streamlining your logistics management strategy and operations, you can reduce your costs across the board, which can be a significant competitive advantage.
3. Increased sales - You can increase sales by optimizing supply chain operations, including inventory management and transportation schedule.
4. Competitive edge - A logistics management strategy that is designed to maximize efficiency can give your business a competitive edge over your competitors. This is especially true if you specialize in a niche industry that requires precise delivery of products or services.
5. Improved employee morale - By improving operations and logistics, you reduce the amount of stress that your employees face on a daily basis. This can improve their morale and reduce employee turnover, which can cost your business money.
6. Reduced supply chain risks - A well-managed logistics management strategy reduces supply chain risks and liabilities. It also allows your business to minimize the amount of money and other resources that are tied up in inventory.
7. Opportunity for growth - A streamlined logistics management strategy can give your business the opportunity for growth that it has been looking for, allowing you to take on larger contracts and increase revenues.
8. Improved image - Customers are more likely to view your business as reliable and trustworthy when you have a streamlined logistics management strategy in place. This can help to improve your company’s image.
Elements of effective logistics management
1. Inventory management - Having the right amount of inventory on hand is crucial to the success of your business. Having too much inventory tied up in goods that will not be sold can result in decreased profits or even losses. If a customer orders a product that your business does not have in stock, you may not be able to fill the order. Conversely, having too little inventory available can cause problems and negatively affect your bottom line.
2. Production planning - Production planning is the process of forecasting demand and determining how much product you need to produce. This is often referred to as the “production forecast.” The production forecast is an essential element of logistics management because it is tied to inventory management.
3. Distribution - The process of getting your goods from the point of production to the point of sale or distribution to customers. Having an effective distribution system in place will allow you to minimize transportation costs and maximize efficiency.
13| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
4. Transportation scheduling - Transportation scheduling refers to the process of choosing which transportation methods to use and when to use them.
5. Warehouse management - Warehouse management refers to the process of selecting a warehouse location, staffing the warehouse, and ensuring that the warehouse is well stocked with inventory.
Developing an effective logistics management strategy
1. Find and understand the weak points in your current logistics management strategy. You can do this by conducting an audit of your current system. Once you have identified the weak points, you can begin to develop a strategy to correct them.
2. Focus on the long-term goals and objectives of your business. Look to expand your business and make sure that it has the capacity to succeed over the long term.
3. Identify your core competencies. This will help you identify what your business does best and what it is most knowledgeable about so that you can focus on those areas.
4. Partner with logistics management specialists. Working with logistics management specialists can help you to develop an effective strategy and keep your business on track to success.
5. Develop an implementation plan. A well-developed plan will help you to avoid the mistakes that can be made when developing a strategy without a plan.
6. Follow through and revise as needed. Once your logistics management strategy is in place, follow through with it and make necessary revisions where needed. This will help you to make the most of your strategy and put your business on the path to success.
The importance of customer service in logistics management
Customer service is a key component of logistics management. It is important to establish a good relationship with your customers from the moment they initiate contact with your business until the delivery of their product. Establishing trust and confidence in your business and products is crucial to building a successful customer base. This can be accomplished by offering prompt responses to customer inquiries, shipping products on time, and providing exceptional customer service. The quality of the products that you ship and the time frame in which you ship them have a significant impact on customer satisfaction. Shipping products on time and in the condition that they are promised can go a long way toward building trust and gaining customer loyalty. There are various tools and technologies that can be used to improve customer service in logistics management. These include tracking systems, communication apps, and customer service software.
14| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Automation and technology in logistics management
Automation can reduce the amount of human error in operations, such as inventory management, distribution, and transportation schedule. It can also help to increase productivity and reduce the amount of time that certain tasks take to complete. This can help to improve customer service by reducing the number of errors and improving the speed with which orders are fulfilled. Technology can also help to increase fleet utilization by monitoring driver and vehicle performance. The use of technology in your logistics management strategy can improve customer service. It can also be used to improve your company’s image. The use of technology also allows you to have better control over your operations, which can help to reduce costs. This can be especially helpful for businesses that offer low-cost items.
Logistics management software
Logistics management software is computer software used to manage logistics and other aspects of supply chain management. It includes tools for collaboration, capacity planning, customer relationship management, inventory control, warehouse management, transportation schedules, and more. Logistics management software can be integrated with other software to create anend-to-end solution for your business. This software can help to improve collaboration, improve customer service, and reduce costs. If your business is involved in the supply chain whether it’s importing or exporting goods or selling products online then you need logistics management software to keep things running smoothly. Logistics management software is used to manage the flow ofgoods and information throughout your supply chain. Using this software, you can manage inventory, track shipments, and communicate with customers.
About author
Sumeet Jain graduated with a BCom from SN College in Mumbai. Having worked in the events sector for more than ten years, he has perfected his crisis management, operations, major vendor management, etc. abilities. He has worked with Inch by Inch Productions Pvt Ltd, NeoNiche Integrated Solutions Pvt Ltd, and Robust Events. He is now the HOD-Events at Hotstuff Eventsand Repro Pvt Ltd.
15| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Ms. Xingxing Deng
HUL, South Asia
Supply chain analyst
Thoughts about Supply chain predictability for globalized manufacturing
This is thoughts from myself, based on what has happened in the world and experience how management assess the risks and make decision to bring great value to supply chain resiliency strategy.
Supply chain resiliency
Why resiliency?
Supply chain flexible (agile mindset) to delight our customers all over the world. The concept of supply chain resiliency is a strategy being “promoted” in manufacturing companies for at least decade. Over years, acquisition becomes quicker, as well as deliver more high-tech products to align with rapid market growth in most aspects of digitalized lifestyles. I would say that there has been some effort to many companies to optimize supply chain process through upgrade enterprisesystem to tackle purchasing- production-distribution. Peak demand due to Covid19, pushing companies starting to think about build more predictability supply-demand model to minimize supply chain disruption which results in significant cost impact and line downs (various supply chain articles you would get some indicative figures.)
Manufacturing process globalized
Globalised manufacturing is not something new things to talk about. We see benefits to developed countries in terms of overall economy impact and specialised talents for certain specific product required. Factory in economic zones to reduce duty/tax etc.
Today company face challenges on competition on subcontracted capacity and high turn over rate on manpower. Just to image, with inaccurate forecasts (let us say overestimated), the subcontracted components still haveto bemanufactured as percontracts, thoseexcess portion will stayas inventory
16| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
cost(this part of costs have a risk to become a slow moving parts, with associated operation costs to be paid for nothing, I would say the value could be vital).
Every forecast has its risks (for operation, it is even more challenge, especially if it outsourced), and what we need to think is to how to minimize it. This deep dive on process is essential, especially when there is complexed production process and business rules being defined due to acquisition.
Distribution centre – centralization, decentralization
Locations are what company think of distribution strategy. Customers(consumers) are globalized regardless of B2B, B2C. Supply chain people would start to target based on where its customers stay and build up its distribution centre, this might be close factory itself or close to subcontractors or even isolated. With those options in mind, company starts to worry, shall I build one master DC (distribution centre) or multiple DCs? is there a need to automate the receiving- shipping process when volume increase? Etc.
So next step is to think about how we can make a predictable decision on short term/ long term decision on DC (let us say it is outsourced warehouse with reliable license) option? Current volume, future volume, operation supporting costs (equipment, manpower, building rental, management fee, warehousing fee. etc). potentially, without predictable data/ information, it would result in loss in investment on DC strategy.
Political at regional level, country level
Nature of manufacturing globalization is unavoidable to be impacted by regulatory. BREXT, China /US cold war, as well as custom regulatory changes, etc.
You just simply can’t send over your product if your supply chain footprints are covered in those countries. So, next question would be, do we have alternative right now? and can I get to know the potential impact on overall now? furthermore, interconnective among countries also bring unforeseen rising on supply chain disruption.
Disaster or Natural disaster
Covid 19 teaches a lesson to the whole world that digitalization is an unstopped trending to use alternative solution to live daily and adjusted to this new Norm.
Ukraine war (ongoing) happen, which is a definite loss in some customers and company itselfreally can’t do anything about that. I believe that manufacturing company also learned a lesson on supply chain risks mitigation.Apart from direct customerdemandand operation cost loss. Evendrivefurther fuel pricing raising for nine months (it is still a variable cost factor)
17| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Afterall, how is the impact? what else can we do to recover quicker from loss from supply chain perspective?Adecisionurgetobemadewhichdrivemanycompaniesstartto thinkofanalyticsupply chain to be able to visualize the impact and make a data driven decision.
Industrial 4.0
Basically, this is an automated processes solution by connecting different platforms to centralize supply-demand process, beneficial to management to get alive supply chain information, therefore they can really see supply chain is healthy or not. Process experts/analyst would be able to visualize potential impact on backlog.
Manufacturing companies started to realise how significant to make a data driven decision as well as optimize (or simplify) operation process. This is a new way of thinking about how to manage supply chain to keep competitive in the industry.
Stilllong way to go formanufacturing companies for changing mindset managing supply chain. New tools we are using won’t be replacing human(talent) thinking completely, it has the same logic on how our logic works, which shows high value in generic or standardized logic impose. Companies still need people to really think out of box and summarize insights from data they see, therefore finding opportunity to enable changes. So as supply chain professional, new skills to be required acquired are “playing” analytic tool, complex data analysis, process analysis, creativity thinking, industrial knowledge.
Supply chain predictability with logistics
Logistics act as fundamental components to connect all chains. Quicker and faster is the KPI to measure turn over. Mostly we want to know when the components ship, when to arrive, any potential delay or missing shipment would result line down or sales order unfulfilled as promised. Companies are ready to enter generation of industrial revolution, investing new way to manage supply chain (industrial 4.0). In my opinion, manufacturing industry is mature, the next focus is to mitigate interconnected risks.
About Author:
Xingxing Deng, A versatile and skilled professional with excellent hands-on experience in Logistic/Supply chain management, experienced in Material management and warehouse management. An assertive person with outstanding interpersonal, negotiation and people management skill.
18| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
EMERGING MANAGERS
19| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
E-Procurement Tools and Their Benefits
E-PROCUREMENT- The process of purchasing goods and services electronically through an online platform is known as e-procurement, sometimes known as electronic procurement or online procurement. The procurement process is streamlined by the use of technology, from sourcing and purchasing to paying and delivery. By removing the need for paper-based processes and enabling businesses to bargain better prices with suppliers, e-procurement can also help to cut costs. The electronic recording of all transactions and communications can help promote transparency in the procurement process.
Why is E-procurement necessary?
Efficiency: The procurement process is automated and streamlined with the help of e-procurement solutions, which makes it quicker and more effective. They lessen the possibility of mistakes and delays by enabling real-time tracking of orders, invoices, and payments.
Cost savings: E-procurement technologies can assist in lowering expenses related to manual operations like printing, shipping, and data entry by automating the procurement process. Additionally, they make it simpler to compare costs and suppliers, facilitating better contract negotiations and lowering overall expenses.
Greater compliance: E-procurement solutions can guarantee that all procurement procedures are followed in line with all applicable laws, rules, and policies. This lessens the possibility of penalties and other legal repercussions.
More openness: E-procurement platforms give a detailed account of all procurement activity, including who made the purchase, what was acquired, and for how much. This openness contributes to the fairness and transparency of the procurement process.
Enhanced collaboration: Better communication and collaboration between procurement teams, suppliers, and other stakeholders are made possible by e-procurement solutions. This makes it easier to make sure that everyone is on the same page and pursuing the same objectives.
Mr. Katta Anudeep MBA, 2022-2024
IIFT - Kolkata
20| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
E-procurement tools
Request for quotation (RFQ) tools: These tools let businesses get prices from several suppliers for particular products or services. RFQ tools can save businesses time and effort by assisting them in determining the best value for their money.
E-sourcing tools: With the help of these tools, businesses can control the entire sourcing procedure, from the identification of possible suppliers to the choice of the best one. Organizations can use esourcing solutions to simplify the sourcing process and make sure they are receiving the best value for their money.
E-catalog tools: Employers can build and maintain user-friendly electronic catalogues of products and services using these tools. Organizations can standardise their procurement procedures and lower the risk of mistakes and omissions by using e-catalog solutions.
E-auction tools: By using these technologies, businesses may hold online auctions and obtain the best pricing forgoods and services. Organizations can savetimeand money by using e-auction tools, which can also increase the level of bidding competition.
E-invoicing tools: Using these tools, businesses may manage their invoices electronically from the time they are issued to when they are paid. Organizations can lower their administrative expenses and increase the effectiveness of their accounts payable procedures by using e-invoicing systems.
Benefits of E-procurement
Greater efficiency: E-procurement systems can significantly reduce the time and effort needed for procurement activities, including asking for quotes, issuing purchase orders, and monitoring delivery. As a result, businesses can concentrate on what they do best and increase productivity as a whole.
Greater accuracy: E-procurement solutions, which may enforce rules and norms and offer a clear audit trail of all transactions, can help decrease errors and omissions in procurement procedures.
Greater transparency: E-procurement solutions can offer real-time transparency into the whole procurement process, from the sourcing of products and services through the payment ofinvoices. This can assist organisations in tracking progress, identifying areas for development and ensuring that deadlines are met.
More transparency: E-procurement platforms enable for the sharing of information and documents amongst all parties involved, which can help promote transparency in the procurement process. This can lower the possibility of fraud and corruption and increase confidence between businesses and their suppliers.
Improved collaboration: E-procurement solutions can make it easier for teams and departments within an organization to work together as well as between the company and its suppliers. This may facilitate improved cooperation and communication, which may ultimately result in betterresults.
21| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Increased cost savings: By streamlining procedures and automating manual chores, e-procurement technologies can assist businesses in lowering their procurement expenses. They can also assist businesses in negotiating better rates with suppliers because they can give a more precise and current picture of an organization's procurement needs.
Challenges in E-procurement
Complexity: Setting up and maintaining e-procurement systems can take a lot of time and effort due to their complexity.
Cost: Setting up an e-procurement system can be costly, particularly for smaller firms that might not have the funds to do so.
Security: Data breaches and hackers are two security risks that might affect e-procurement systems. To protect sensitive information, it is crucial to make sure that the proper security measures are in place.
User adoption: It can be difficult to convince staff members to utilize the e-procurement system, especially if they are accustomed to conventional procurement procedures. To guarantee that staff can utilize the system efficiently, it is crucial to give adequate training and assistance.
System integration: E-procurement platforms must be able to work with other platforms like accounting and inventory control software. It can be difficult to guarantee that these systems can operate in unison.
Vendor adoption: Some suppliers could feel uneasy utilising an e-procurement system and might prefer conventional ways of acquisition. It can be challenging to convince vendors to use the system.
Compliance with regulations: E-procurement systems must adhere to a number of laws and standards, including GDPR, PCI DSS, and ISO 27001. Obtaining compliance can be difficult.
22| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Mr. Taranjeet Singh
MBA, 2022-2024
GREAT LAKES INSTITIUTE OF MANAGEMENT
Operations Management
Operations management is the control of a company's organizational structure, operational procedures, and financial goals. It describes the administration of tasks necessary for a company to operate successfully daily, such as:
• Directing several divisions and setting objectives
• Process supervision and streamlining
• Balancing income and expenses
• Formulating plans
Working on logistics and manufacturing
Everything a firm does, including its success and whether it makes a profit, is supported by its business operations. Operations management must make sure that procedures are effective, the correct people are hired, equipment is suitable for the job, and the physical locations of the firm are lucrative, morally sound, and safe since poor business operations might jeopardize its sustainability. The firm benefits from effective operations management. Being an operations manager, purchasing manager, or another comparable post in operations management is a leadership position. People in these positions manage several teams or departments, integrate managerial and administrative duties, and direct day-to-day activities inside the company. Depending on the firm and the exact function, duties might vary, but in general, a person involved in business operations is accountable for:
• analyzing, creating, and putting into practice business processes
• Managing supply chain and logistics procedures
• monitoring manufacturing, distribution, and quality control
• control and evaluation of financial budgets
• making strategic judgements and discussing corporate strategy with other senior staff members
23| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
• managing employees
• assisting HR with recruitment efforts
• establishing connections with customers and suppliers
Operations management is a discipline that originates from solving management problems in a factory environment, but since the mid-20th century, researchers, teachers and Practitioners begin to apply knowledge from the field to support service operations. A factory manager plays an important role in a company. Under the umbrella of Operations, he has five components.
Operational strategy, project management, people and team leadership, finance, and data analytics. The Ops Authority program develops an operations manager's expertise and teaches him to become an expert in five areas. Technical skills are taught, but there is also an emphasis on developing softer skills such asensuring a growth mindset and leadership skills, which are valuable to managers' operation management. These steps help students take the next step in their careers and leave them with marketable skills. How operation managers can increase the profitability of your business:
1. They improve organizational design
An operations manager integrates the vision of the CEO. Organizational design is about understanding where a company is going and who needs to be on the team to get them there and what those roles entail. By designing and documenting the business functions such as sales processes, IT management, project management, to name a few, the more streamlined the company.
2. Through operational strategy
Operations Managers deliver products or services to customers, whether they organize a specific project ormanagean entireoperations department. Anoperational strategyis guidanceforaparticular product or service, resulting in superior customer service delivery.
3. Through project management skills
All projects must be delivered on time and within budget, and strong organizational skills are partof an effective operations manager. There are many steps in the project and many parts that need to be adjusted. Having an experienced operations manager on your team ensures smooth delivery.
24| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
4. Monitoring KPI’s
Operations managers need to measure meaningful KPIs to measure efficiency, productivity, metrics related to the sales cycle, and other important things. Knowing the key KPIs you measure in your business and developing strategies to keep them at peak efficiency will help your business grow and move forward.
5. Have a solid financial sense
Operations managers need to understand the financial aspects of business operations. This includes monitoring the company's financial situation, including budgets. Projects carried out by companies must be profitable, and controlling that profitability is essential.
The bottom line is that good Operations Managers and Operations Directors are valuable assets to any organization that efficiently and effectively manages back office activities. Reduce waste by streamlining processes and procedures and effectively monitoring workflows. An integral member of the team, they make your business profitable and help your business run smoothly.
The growth of the service sector
In recent decades, firms in the third sector of the economy, i.e. services sectors, have increased their relative share in job creation and economic importance. Gallie (1991) pointed out that before World War I, about 80% of people were employed population is manual labour, but in 1987 non-manual workers accounted for half of the jobs. With the growing importance of service delivery, service operationsmanagement hasbecomeimportantinthepracticeoforganizations,andarelevantresearch topic in broader scope (Smith et al., 2007). According to Ricci and Rachid (2013), from 1994 to 2000 employment in the service sector increased by 141.3%, in addition to a decline in manufacturing. In 2007, according to the same author, 31.7% of formal employment was in the service sector.Heineke and Davis (2007) argue that the service sector has grown significantly by the end of the 20th century, to the point that 80% of jobs in the United States were provided by service companies. This rapid growth is caused by several factors, such as changes in people's lifestyles, deregulation and the availability of better infrastructure, based on new information and communication technologies. As Heineke also pointed out and Davis (2007), once the service sector exceeds 50% of the economy, occurred in the 1950s, researchers, especially economists, began to examine the characteristics of services andto adapt and applyoriginal conceptsto them developedtomanageproductionoperations.
A wave of outsourcing has continued to propel the movement in this direction, manufacturing companies are starting to use specialized companies with lower costs and better quality if it is done in-house. Activities such as property security, cleaning, construction maintenance, industrial canteens, and logistics have been entrusted to external service providers (Fitzsimmons and
25| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Fitzsimmons, 2010). Almeida (2004) identified this trend, stating: that between 1977 and 2000, there was an increase of more than 15% in the service sector in Europe and Japan, and similar growth in the United States. Service activity increased accompanied by a 20% reduction in the manufacturing sector in Europe and the United States, and 11% in Japan. Mechanization, automation and standardization have also contributed to an increase in the relevance of service delivery (Almeida, 2004). Investigative studies related to the transition from an industrial society to a service society The company has been around for decades. Sullivan (1982) pointed out the challenges and requires research on service management according to certain characteristics service characteristics such as intangibility, inseparability, heterogeneity, and easily damaged. Machuka et al. (2007) conducted a detailed review of the service studies works in major operations management journals: International Activity Magazine & Production manager; Journal of International Production Economics; International Journal of Production Research; Operations Management Log (JOM); Produce and Inventory management; and the Journal of Operations and Production Management (POM). Surname found that 7.5% of articles published were related to service activities management. At the same time, Smith et al. (2007) conducted an empirical evaluation of the productivity of researchers and organizations in managing service activities in journalism published in 5 major scientific journals: Manufacturing and service activities Management; Management Science; Operational research; OJM; and Pom. They made a map 463 articles were published between 1990 and 006 and found that the proportion of service operation management increased from 7.0% in 1990 to 17.2% in 2006. Chase and Apte (2007) discuss the role of services in the national economy and the importance of scientific research on the subject, emphasizing the importance of teaching operations manager in universities to handle service operations. Recently, Jung et al. (2015) developed a theoretical study related to socially responsible service activities management (SRSOM), can be defined as service management activities related to social responsibility and legal, ethicaland environmental issues. Theauthors also referto otherstudies published inthe past 20 years thatdiscuss SRSOM demonstrate that interest in the topic has grown exponentially over the years.
26| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Mr. Aftab Raza
MBA, 2022-2024
IBS Hyderabad
Global Supply Chain in a Post-Pandemic World
A plethora of factors including US-China trade wars and the demand-supply deficit due to the Covid19 crisis are forcing manufacturers across the globe to reassess and re-design their supply chain. There is a constant pressure to generate employment, increase production, reduce risk-dependent resources, and re-think lean inventories and just-in-time replenishment, which can be impeding in a global economy with the raw material shortage. There is a need to build a resilient supply chain without sacrificing competitiveness by determining potential disruption, assessing potential alternatives, and addressing vulnerabilities by diversifying your raw material procurement. Exploring technologies – automation, AI, 3-D printing, ERPswhich can streamline the process – decreasing cost and increasing flexibility.
Changing Global Landscape
The supply shortage that started in China due to Covid-19 and the global economic shut-down that followed exposed the vulnerabilities and shortcomings of supply chains across the globe as trade restrictions wereimposed. This coupledwith theUS-China trade warlead companies acrosstheglobe to implement lean strategies to minimize inventory containing global supply and implement just-intime principles. The challenge remains to continuously re-evolve the supply chain and maintain competitive customer-oriented pricing.
Strategies to a robust supply chain
To adapt to the ever-changing global landscape the firms should undertake the following suggestions to make their supply chain more robust meanwhile mitigating risk: Assemble-to-Order (ATO) in case of specialized products
27| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Product manufacturing with emerging technologies often requires specialized technical skills and expertise; it’s not possible for a single supply chain to have the breadth of capabilities to produce everything itself. Hence, manufacturers turn to suppliers/subcontractors who are specialized in such products or components, providing flexibility according to customer needs and the ability to incorporate the latest technology. However, dependency on a single supplier may leave you vulnerable.
Accessing risk and vulnerabilities
The process involves mapping suppliers as a low, medium, and high risk going to the grass root levels – analyzing how quickly can you recover with an alternative in case of a supply shock, days of sustenance in case of raw material deficit. Overall it’s an assessment of flexibility and dependence of your firm’s supply side. It can be addressed by diversifying your sources or re-engineering your inventory management.
Diversification of supply base
Thewell-knownrisk-hedging techniqueis toadd moresources in locations not vulnerable tothesame risk i.e., diversifying the supply base across the globe, not just a single one. The US-China tradewar has inspired firms to implement the “China plus one” state. Firmsirms across the globe are looking for alternatives for production just in China; however, this will require considerable time and investment.
In general, firms should have a diverse portfolio of suppliers so that they can be averse to the risk of a supply crunch.
Enhanced inventory management
Firms across the globe should implement a lean inventory management technique implementing justin-time EOQ principles to avoid opportunity cost loss and obsolescence risk. However, firms should maintain an intermediate inventory or safety stock in order to avoid the risk of shutting down incase of a severe supply shock, like in the recent pandemic. Thus, firms should weigh between costs of storage and the risk of obsolescence with the advantages of maintaining a safe stock.
Incorporating technology
Companies with a global footprint have the advantage of implementing state-of-the-art production processes and manufacturing units whenever they decide to expand. These technologies help lower costs, increase the flexibility of production and provide economy of scale. The major technologies that help transform the supply chain are:
28| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Automation: As automation comes into acceptance along with its decreasing costs, increasing amounts of processes in supply chin are being automated. It ensures precision, reduces labor requirements, and ensures quality control. The pandemic has enhanced prospects of automation as social distancing is not just a need but a necessity.
New processing technologies: Cutting-edge techniques and equipment require less raw materials, produce less waste, are less capital-intensive, and are less expensive t operate. They will require smaller batch sizes economically cutting costs and increasing output.
Additive Manufacturing: This process incorporates 3-D printing dramatically reducing steps required to produce complex metal shapes and blueprint models. Rapid advancement in this tech helps produce an array of items in much higher quantities.
Artificial Intelligence: AI is used across the globe to forecast demand for inventory management, increase efficiency, discover better- cost-effective ways of transportation, and in risk mitigation.
Enterprise Resource Planning: ERP provides a centralized platform for all operations of a supply chain. ERPs have now transformed to meet needs at global levels- SAP provides a platform for businesses across the globe to interact on its B2B integration further through ARIBA; it has streamlined the vendor system through e-procurement.
Conclusion
The global landscape is ever-changing, managers across the globe should introspect their respective supply chains making them more resilient and flexible, building a trusted base of suppliers and vendors that help mitigate supply disruption and support business continuity. Firms should incorporate emerging technology to make the entire supply chain more streamlined and resilient meanwhile gaining a competitive edge. We expect to see increased investment in digitization to enhance critical supply chain planning capabilities using AI-driven predictive analytics. The managers should leverage the existing capabilities across the globe while building a robust and riskevasive supply chain that tackles future disruptions bound to occur.
29| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Asheer MBA, 2022-2024 IBS Hyderabad
Unlocking the Secrets of Samsung Group's Supply Chain and Operations Management
In recent years, Samsung has become a household name that has been integrated into every facet of people's everyday life. From televisions and smartphones to home appliances, the Samsung Group has become an integral part of our lives. But what lies behind the success of this global technology giant?Here are few insights that will be taking a closer look at the secrets of Samsung Group's supply chain and operations management over the past few decades.
Mr.
30| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Introduction to Samsung Group
The Samsung Group is a multinational conglomerate based in South Korea. Founded in 1938 by Lee Byung-Chul, the company has grown to become the world's largest technology company, with a presence in over 80 countries and a workforce of over 300,000 people. The Samsung Groupconsists of over 60 companies, including Samsung Electronics, the world's largest consumer electronics manufacturer, and Samsung Heavy Industries, the world's second-largest shipbuilder. The Samsung Group has seen tremendous success over the past few decades. In 2018, the company reported a revenue of $221 billion, making it the third-largest company in the world. Samsung has becomeanindustry leaderin theconsumerelectronicsmarket, andthecompanycontinues toinnovate and expand its product portfolio.
Understanding the Samsung Group's Supply Chain
The success of the Samsung Group is largely due to its efficient and effective supply chain. The company has a global network of suppliers and partners to ensure that its products are produced and delivered on time. The Samsung Group has a variety of supply chain strategies in place to manage its production and delivery process.
The Samsung Group has a centralised procurement system in place, which helps the company to obtain the best quality materials at the lowest possible cost. In addition, the company has a multi-tier supplychain, which enables it tosourcematerials from multiplesuppliersandensurethattheproducts are delivered on time.
The company also uses technology to manage its supply chain. The Samsung Group has invested heavily in automation and technology to improve its supply chain efficiency and reduce costs. The company uses advanced software systems to monitor and manage the entire supply chain process, from the procurement of raw materials to the delivery of products to customers.
Overview of Samsung Group’s Operations Management
The Samsung Group's operations management is akey factor in the company's success. The company has implemented a number of processes and systems to ensure that its operations are efficient and effective.
The company has a robust system of quality control in place, which helps to ensure that its products are of the highest quality. The Samsung Group also has a strong focus on cost control, which helps to keep production costs low and ensure that the company is able to offer competitive prices to its customers.
In addition, the Samsung Group has implemented an effective inventory management system. This system helps the company to ensure that its products are available when needed and that they are delivered on time. The company also uses advanced software systems to track inventory levels and ensure that products are delivered on time.
31| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Examining Samsung Group's Global Strategy
The Samsung Group's success has been driven by its global strategy. The company has a presence in over 80 countries, which has allowed it to tap into new markets and reach more customers.The Samsung Group has implemented a number of strategies to expand its global presence. The company has invested heavily in research and development to ensure that its products are of the highest quality and are competitive in the global market. The company also focuses on innovation and customer service, which has helped it to build a loyal customer base.
The company has also implemented a number of strategies to ensure that its products are available in all countries. The Samsung Group has established a number of local offices and has partnered with local distributors to ensure that its products are available in different markets.
Benefits of Samsung Group's Supply Chain and Operations Management
The Samsung Group's supply chain and operations management has had a number of benefits for the company. The efficient and effective supply chain has enabled the company to source materials at the lowest cost and ensure that its products are delivered on time. The company's operations management has also enabled it to maintain high levels of quality control and ensure that its products are of the highest quality.
In addition, the company's global strategy has enabled it to tap into new markets and reach more customers. This has helped the company to expand its customer base and increase its revenues. The company has also been able to reduce costs and offer competitive prices to its customers, which has helped it to remain profitable.
Challenges Faced by Samsung Group
Despite its success, the Samsung Group has faced a number of challenges in recent years. The company has faced increasing competition from other technology giants, such as Apple and Huawei. This has led to increased pressure on the company to remain competitive in the market. In addition, the company has faced a number of challenges with its supply chain and operations management. The company has faced issues with sourcing materials and ensuring that its products aredelivered on time. The company has also faced challenges with its inventory management system, which has led to delays in product delivery.
Solutions to Challenges Faced by Samsung Group
The Samsung Group has implemented a number of solutions to address the challenges it has faced. The company has invested heavily in technology and automation to improve its supply chain and operations management. The company has also implemented a number of strategies to ensure that its products are available in all countries. The company has invested in research and development to ensure that its products remain competitive in the global market. In addition, the company has
32| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
implemented a number of strategies to reduce costs and offer competitive prices to its customers.
The Impact of Samsung Group's Supply Chain and Operations Management
The impact of the Samsung Group's supply chain and operations management has been significant. The company's efficient and effective supply chain has enabled it to source materials at the lowest cost and ensure that its products are delivered on time. The company's operations management has also enabled it to maintain high levels of quality control and ensure that its products are of the highest quality.
In addition, the company's global strategy has enabled it to tap into new markets and reach more customers. This has helped the company to expand its customer base and increase its revenues. The company has also been able to reduce costs and offer competitive prices to its customers, which has helped it to remain profitable.
Conclusion
In conclusion, theSamsung Group's supply chain and operations management havebeen instrumental to its success over the past few decades. The company has implemented a number of strategies to ensure that its supply chain and operations are efficient and effective. The company has also invested in research and development to ensure that its products remain competitive in the global market. The company's global strategy has enabled it to tap into new markets and reach more customers, which has helped the company to expand its customer base and increase its revenues.
33| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Mr. Dhruv Rami
MBA, 2022-2024
IBS Hyderabad
A Comprehensive Guide to Implementing Competition-oriented Dynamic Pricing in the E-commerce Industry
The e-commerce industry is highly competitive and dynamic, with businesses constantly looking for innovative ways to attract customers and generate higher profits. One of the most effective strategies to increase profits and gain a competitive edge is through competition-oriented dynamic pricing. This pricing strategy is focused on adapting to changing market conditions in order to maximize profits. This comprehensive guide will provide you with an in-depth look into what competitionoriented dynamic pricing is, why it is beneficial for your business, and how to successfully implement it. By the end of this guide, you will have a thorough understanding of how to use this powerful pricing strategy to increase your profits and gain a competitive edge.
Benefits of Competition-oriented Dynamic Pricing
Competition-oriented dynamic pricing allows you to constantly change your prices according to your competitors. This allows you to maximize profits during times when demand is high, and minimize the risk of losses when supply outweighs demand. In other words, competitive price monitoring allows you to set prices based on what your competitors are charging. This ensures that your prices don’t fall below the point at which you are making a profit. Competition-oriented dynamic pricing is a great strategy to adopt if you are competing in an industry where prices are constantly changing. Businesses that operate in industries like hotels, airlines, car rental services, clothing retail, and healthcare, can greatly benefit from this pricing strategy.
34| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Analyzing the Competition
The first step when implementing competitive price monitoring is to analyze the competition. You can do this by monitoring your competitors’ prices, as well as their marketing activities, through tools like online scanners or price trackers. You can also use these tools to keep track of the demand of your products or services, as well as their inventory levels. Once you have an idea of how your competitors are pricing their products, you can use this information to determine the prices of your own products. You can then use automation tools to set up rules to automatically update the prices of your products in real time.
Developing a Pricing Model
Once you’ve analyzed your competitors, you can start developing a pricing model to help you determine the prices of your products. You can use a variety of factors to determine the prices of your products, such as the costs of production, the demand for your products, and the price at which your competitors areselling their products. You should consider adding a premium to yourproducts’ priceto account forthecosts ofmarketing andselling yourproducts. Whileit’simportant toconsider the variables mentioned above, you also need to take into account the seasonality of your industry. For example, if your industry is seasonal, you might want to consider adjusting your prices during off-peak seasons to maximize your profits.
Setting Prices in Real-time
Setting your prices in real-time is one of the most important parts of competition-oriented dynamic pricing. It helps you maximizeprofits by setting your prices above thepoint at which you are making a profit. You need to set your daily, weekly, or monthly average prices based on market conditions, inventory levels, and product demand. You should also consider adjusting your prices based on external factors like weather, holidays, and special events. You should provide discounts as an incentive to customers to buy your products, especially when they are in high demand. You can offer discounts on shipping fees, gift cards, or other incentives to attract customers and drive more sales. You should also consider raising your prices when demand is low and inventory is high, or when the season is over. For example, if you are a retailer selling winter clothing, you might want to lower the prices of your winter clothing during the summer, when demand is low and supply is high.
Monitoring Price Changes
While setting your prices in real-time is important, you also need to monitor price changes. You can do this bysetting a price threshold. For example, if thepriceof aproduct drops below a certain point, you can manually adjust the price of the product. You should also consider monitoring price changes in your industry. This will help you determine if your pricing strategy is working as expected. If you
35| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
notice that a particular product is constantly falling below your price threshold, you can manually adjust the price of the product.
Strategies to Increase Profitability
In addition to changing your pricing model, you can also increase profitability by adjusting your inventory levels. You can do this manually or by automating the process. If a particular product is selling well and demand is high, you can increase the supply of the product by ordering more inventory. On the other hand, if a product is not selling well and has low demand, you can reduce the supply of the product by holding or canceling the order. Another strategy is to change your distribution channels. You can consider expanding your distribution channels or entering new markets where demand is high. You can also consider reducing your distribution channels if demand is low.
Adopting Automation & AI-based Tools
Competition-oriented dynamic pricing requires you to constantly monitor your pricing and change it accordingly. In addition to manually monitoring your pricing, you can also automate the process using automation and AI-based tools. There are a variety of pricing automation tools available, each of which has its own set of features and functionalities. This automated approach to changing your prices can save you a lot of time, allowing you to focus your attention on expanding your business. There are also automation tools for inventory management. This can help you avoid manual errors and keep track of your inventory levels.
Measures to Prevent Price Manipulation
You should always be aware of the risk of price manipulation. This is a risk that exists in almost every industry, especially when you are setting your prices in real-time. You can reduce the risk of price manipulation by adjusting your pricing model, such as adding a premium to the price of your products. You can also use price verification software to prevent price manipulation. This software can automatically detect price changes made by competitors, helping you respond quickly and eliminate the risk of price manipulation. You can also manually monitor your prices and competitors’ price changes. You can do this by logging into your online store and reviewing your competitors’ pricing. When you log in, you should keep an eye out for suspicious price changes, whether they are above or below your price range.
36| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
Conclusion
Competition-oriented dynamic pricing is an effective strategy that can help you maximize profits andgain acompetitiveedge.This strategyallowsyouto constantlymonitoryourcompetitors’prices, as well as the demand of your products. It also allows you to set your prices in real-time based on the above information. Competitive price monitoring can be challenging, especially when your competitors are also using this strategy. In such a scenario, you need to be vigilant and constantly adjust your prices.
37| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
MBA, 2022-2024
IBS Hyderabad
Airbus Company Systems and Operations Management
Systems and operations management's main goal is to ensure that an organization's business operations are carried out effectively and with the least amount of resources possible to support the achievement of business requirements. It is typically an illustration of a management approach that tries to transform available business resources into successful results with the goal of ensuring customer pleasure. Systems and operations management plays a vital role in Airbus and its integration into business in a variety of ways. Some of the management positions for systems and operations at Airbus are listed below.
The creation of a new ideology necessitates a successful strategy from the design stage through the execution stage. To ensure that Airbus continues functioning in an efficient manner without endangering the lives of the passengers, such an approach was necessary during development. The idea of management control and coordination is the first aspect of systems and operations management that is advantageous to Airbus. This seeks to guarantee the accomplishment of organizational objectives in a timely and effective manner without endangering the overall organizational operation. The rising delays experienced by Airbus during the Airbus launch areone of the most obvious issues.
Airbus experiences major production delays, which are demonstrated by things like delivery delays, a lack of a solid implementation strategy that leads to a deviance from the initial concept of developing huge aircraft, and finally a launch delay that lasted for roughly a full year. Customer discontent as a result may have been brought on by inefficient systems and operations management techniques. The goal of management coordination and control is to make sure that the organization has a methodical approach to what it wishes to develop. It is an essential part of the planning stage that Airbus needed to ensure the successful construction of their aircraft. The executive’s control and coordination involve sending different regulatory controls and assessments before a significant choice is made at the hierarchical level.
Ms. Shivangi Jain
38| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
The second job of the frameworks and tasks of the executives inside Airbus is to guarantee that there is adaptability in the execution of the business activities. This is significant in reengineering the plan of an item to suit the necessities of an association's clients. Adaptability is basic for business firms to assess the item's adaptability and creation volume. With respect to this, Airbus didn't lead an inside and out needs investigation of its client necessities prior to setting up an arrangement to develop an enormous airplane. Afterward, it strayed from the first intention to focus on the plan of more modest jumbos. Frameworks and activities the executives guarantee that an association conveys the idea of adaptability during the execution of business cycles to oblige future changes, without expecting to return to the beginning stage.
The third job of tasks the executives at Airbus is that guarantees the upper hand of the firm. Creation delays and undiscovered expectations significantly influence how potential clients see a firm's viability. Thusly, Airbus ought to convey viable creation control ways to deal with wiping out client disappointment because of inadequate creation systems. This implies that the tasks methodology is an essential idea that Airbus needs to take care of for the firm to upgrade its seriousness in the ongoing carrier market. Richard Pursue, a noticeable business writing writer, contends that tasks the executives is a significant idea that endeavors ought to consider while undertaking their everyday business processes.
Coordinating frameworks and tasks the board with the business assumes a critical part in quality administration, execution of the executives, and the plan of hierarchical methods and strategies (Checkland and Poulter 2006). Subsequently, frameworks and activities the executives, through encouraging execution of the board, essentially influences the association's general achievement. Strategies and techniques guarantee that the execution of business processes is finished using negligible assets to foster a more beneficial item or resource. The acknowledgment of this is through a decrease of the above creation costs.
How the Airbus information systems and operations management should be updated to support and improve their business efficiency
Data frameworks are a significant part of the general business structure. This is on the grounds that they give roads through which the different faculty in the firm can approach data that is significant in the everyday running of the business. The data frameworks of a given business endeavor should be cutting-edge to work really in the ongoing industry climate. The Carrier business is one such model that requires a refreshed data framework because of the unique idea of the client base and the always-changing client necessities. The accompanying area frames how the Airbus dataought to be refreshed to offer the necessary help and upgrade generally speaking business effectiveness.
One of the critical methodologies to refresh the Airbus data framework is through utilizing Data Innovation. Incorporating IT with the business processes for the association is quite possibly the most valuable procedure that a firm can send to improve worker efficiency and work with the
39| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
company's general proficiency. There are different benefits related to the improvement of the handling of flight information. This infers that airplane makers and firms managing flight administrations want to take on and incorporate new-age PC advancements to work with the control of the flight and the administration of aerodynamic information. The execution of a viable airplane data framework is a significant procedure in guaranteeing that the execution of business cycles of Airbus is compelling.
Thereconciliation of ITinto thedataframeworks and tasks theboard will cultivateproficiency, offer the expected help through upgrading the administration of airplane activities and give a road through which the firm can gather information connected with the airplane in a computerized structure in this manner working with simple information examination systems by the association. Moreover, sending new-age PC models will effectively make a stage through which the firm can robotize its basic creation processes, subsequently lessening potential blunders that might emerge during airplane production. The accompanying diagram shows how incorporating IT with business processes offers help and upgrades productivity.
One more technique in refreshing the data framework and the board processes is to convey the utilization of powerful choice emotionally supportive networks. Navigation is a significant part of the business firm, this suggests that viable dynamic methodologies are hence expected to make the firm a triumph. Thus, the consideration of choosing emotionally supportive networks in the frameworks and tasks the board arrangement for Airbus would kill a portion of the dangers related to unfortunate dynamic methodologies in the firm.
Choice Emotionally supportive networks can be executed in the framework utilizing suitable programming applications, with the target of the general acknowledgment of the association's objectives, in this way expanding the productivity of the firm and offering essential help in the dynamic cycle at the firm. Alan Pilkinton and Jack Meredith, conspicuous business diary donors challenge that compelling direction is a key achievement factor that a business venture should coordinate with its tasks; this suggests that Airbus likewise needs to refresh and execute successful dynamic methods utilizing Choice Emotionally supportive networks in its data and frameworks the board strategies.
Another technique that Airbus can convey in refreshing its data frameworks and activities the executives is through the coordination of the plan with the assembling system. This expects to guarantee the disposal of divided structures in the assembling processes at Airbus, which eventually brings about wiping out assembling deferrals of the airplane. For example, inner contentions and the need to keep harmony between its plants in France and Germany ought to be managed for the frameworks and tasks the board can bring about the company's proficiency and efficiency. Airbus ought to involve a similar plan and programming in assembling its airplane in both the assembling plants in France and Germany. The assembling system needs an update in a way that works with the
40| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
smoothing out of the planning cycle with the assembling system through the end of transitory and wasteful assembling procedures.
This effectively kills postpones in the assembling of the airplane. It is basic that Airbus keeps a smoothed-out assembling process for the firm to end up successfully and boost key viewpoints like efficiency. As per configuration reports delivered by CNN travel, which is a free communicating organization possessed by Time Warner media, which named the 2010 Carrier Quality Rating, one of the critical reasons for defer in the production of airplanes via airbus is an assembling cycle that needs a mix of the plan with the assembling methods. Subsequently, this system assumes a critical part in the disposal of deferrals related to airplane makes. The diagram underneath portrays how coordinating the plan with the assembling system lessens creation delays at Airbus.
41| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
ABOUT US
The word “Kaizen”, where “Kai” = change, “Zen” = good, signifies change for the better. In its birthplace Japan, the word Kaizen is imbibed as a process that many small continuous changes in systems and policies bring effective results than few major changes. This methodology applies to every department across different sectors.
Kaizen–TheOfficialOperationsClubofIBSHyderabadhasalwaysbeenaspiring“ConstantChange ad Evolvement”. We, as an organization work to inspire and aspire to the student community for the betterment of the future.
KORE – Kaizen’s Operations and Research Entity, one of our primary wings provide the students with a platform to improve and hone their technical competencies to meet the changing demands of the organizations. KORE’s sphere of influence includes Case-Based Research, Consultancy, Live Projects, andWorkshops.LAKSHYA, aninitiativeofKOREfocuses onimprovingthereader's knowledgeabout Operations Management by providing insights in the form of articles on various operation techniques followed by different companies and also updating the emerging trends in the communities.
ANAMIKA BHARDWAJ EDITOR IN CHIEF - KORE
Club Kaizen – IBS Hyderabad
Batch 2021-23
42| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
LAKSHYA is an academic print and is not for any commercial sale. Reliability and Responsibility, for sources of data for the article vests with the respective authors. Please feel free to drop in your suggestions at kaizenclub.ibs@gmail.com
KORE: Kaizen’s Operations & Research Entity.
Kaizen – The Official Operations Club of IBS Hyderabad
All Rights Reserved
Designed by 43| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y
