LAKSHYA- A BEACON OF KNOWLEDGE, JULY EDITION 2022

Lakshya is an initiative by Club Kaizen which is our monthly supplement designed for people who dare to think above the average and believe in connecting the dots. In an age where technology has taken over every sphere, information is abundant and data is omnipresent, we have conspired to bring to you a collection of thoughtfully created and carefully curated pieces of work by some bright aspiring minds of ICFAI Business School, Hyderabad on the current trends and hot topics in the field of Operations Management and their relevance in different Industries.

Everything is growing at the pace of nanoseconds and hence it is quintessential to know about every minute change in the ecosystem. With Lakshya we aim to present our readers with compact yet explicit articles on vivid topics such as the Internet, Banking, IT, IoT, etc. A fair share of this edition focuses majorly on the banking systems and payment gateways. With the constantly evolving technology, it will be interesting to ponder over changes that could be seen soon.

We look forward to providing the students with some valuable insights and inculcate the passion for reading once again within our readers.

Lakshya is an amazing platform for readers as well as aspiring readers to showcase their talent and pen down their thoughts which in turn will be a gold mine for information for the students of not only IBS but from the outside world too.

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OUR KNOWLEDGE PARTNER

Club Kaizen is privileged to have The International Supply Chain Education Alliance (ISCEA, USA) as the Knowledge Partner from Lakshya’s 24th edition.

To be a single source for Total Supply Chain Knowledge through Education, Certification, and Recognition is the mission of ISCEA. Many workshops/events are conducted by ISCEA to improve the knowledge of manufacturing and service industry professionals.

ISCEA provides a platform to explore leadership potential to the aspiring leaders in the supply chain industry while developing the skill sets and knowledge desired by corporations, through SCNext (ISCEA Young Supply Chain Professional Association).

Some of the internationally recognized certification programs developed by ISCEA include1. Certified Supply Chain Analyst (CSCA).

2. Certified Demand Driven Planner (CDDP).

3. Supply Chain Case Competition.

To know more about ISCEA, visit http://www.iscea.net/india.

We look forward to working with ISCEA in spreading knowledge and reaching greater heights together.

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EDITOR’S LETTER “If you have knowledge, let others light their candles in it."

Welcome to the 51st edition of “LAKSHYA”, our monthly supplement designed for people who take that one extra step to reach perfection. To step above the average, one needs to strive for excellence.

That is exactly what we aim to achieve here. Preaching continuous improvement since its inception, Club Kaizen brought forward this magazine, which enables young writers to garner a platform where they can learn, grow and re-learn new things every day. A magazine is a tool that aids students and professional managers to get deeper insights into the current trends and latest happenings around the world.

Lakshya is an amalgamation of articles from corporate professionals, faculties, and students from reputed organizations and institutions all across the world. The articles published through Lakshya aims to provide a hands-on experience from great minds and business leaders who wish to inculcate theoretical concepts and strategies with practical implementation. We all collectively wish to bring in the best, organic and fresh ideas from the young pool of budding managers as well.

Also, the most important aspect of a magazine is that it provides a platform for students to enhance and improve their writing skills, it would also create an environment for them to enrich their thought process where they research and write articles.

We hope that you like this issue and please let us know if there are any areas or topics that you'd like us to address in upcoming editions. Please write to us and become a part of this discussion.

Email ID: kaizenclub.ibs@gmail.com

Mustafa Maqbool Events Manager Club Kaizen – IBS Hyderabad Batch 2021-23

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CONTENTS S. NO.

TITLE

PAGE NO.

1

From the Mentor’s Desk

5

2

Impact of Blockchain Technology on Logistic and Supply Chain Management

7

3

Zero defects in quality management

10

4

Warehouse automation: Rise of warehouse robots

15

5

How Big Data & Analytics are revamping Third-Party Logistics

19

6

Future Of Supply Chain: Seamlessly overcoming the challenges

22

7

Entrepreneurship for Supply Chain Management & Logistics

26

8

Productivity and it’s Role in Shaping Economies and Businesses

29

9

Operations in Health care

32

10

E-commerce conclave - omni channel model: Future of Ecommerce

35

11

Impact of outsourcing on a company's operational performance

39

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From the Mentor’s Desk In the era of competition, students must be prepared for the ever-changing business environment. Knowledge creation plays an important role to learn to tackle the dynamic nature of business.

I appreciate and congratulate the initiative of club KAIZEN for bridging the gap between the corporate world and academia through LAKSHYA which is an excellent platform where industry practitioners, academicians, and researchers can share their knowledge and experience, acting as a beacon guiding students to reach their goal.

My best wishes to Club KAIZEN in their endeavor of knowledge creation through LAKSHYA.

Dr. Nishit Kumar Srivastava Mentor, Club Kaizen

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CORPORATE ANGLE

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Mrs. Meghna Rastogi Apple, California QA Analyst Impact of Blockchain Technology on Logistic and Supply Chain Management

Digitalization seems to have had a significant impact on the supply chain's general outlook recently, as observed in many different industries. Many subjects, including customer and supplier relationship management, corporate resource planning, and cloud solutions for the Internet of Things, continue to dominate our agenda within the context of the digital transformation idea. Managers in this field must take the initiative and seize the opportunities provided by digital technology in order to meet the sector's constantly expanding requirements and to obtain a competitive advantage as this transformation becomes an unavoidable phenomenon. However, this change calls for a crucial mindset shift and a strategic transformation that goes beyond the technical.

Therefore, before such a significant transformation, it is always crucial to consider whether the relevant technology gives the firm a competitive edge and whether it is required for the value chain.

Although it is not yet fully developed, Blockchain is one of the technological developments that should be actively watched in this context because it will both compete in a competitive environment and utterly force us to modify the way we conduct business in the context of value chains.

What is Blockchain?

A distributed database-based digital technology called the Blockchain offers encrypted process tracking and permits the processing and storage of data using a special methodology. A single transaction involving one or more participants is the fundamental working principle of a blockchain.

This could be a transaction involving payments, but it could also involve the transfer of knowledge, which is one of the three essential flows in supply chains. Since the Blockchain technology is constructed on a chain model, data are typically not kept in centralized databases. Instead, they are delivered to distributed computers in a computer network without being connected to a single hub with the aid of cryptographic technology that can be traced but not cracked.

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Application of the Blockchain Technology in Logistics and Supply Chain Management 1. Supply Chain Solutions •

Monitoring the presence and status of the materials on the supply chain: One of the key business issues that has to be resolved is the lack of visibility of data regarding the movement of materials through the supply chain. Incorrect data entry, data transport disruptions, and human error are all part of this issue. Blockchain networks have the advantage of not being subject to human error because they are automated and run without human involvement (data entry, data processing, etc.). Additionally, blockchain enables data sharing without requiring each entity's systems to be changed, enabling enhanced product traceability across several partners, locations, and facilities. As a result, the data on a product's lifecycle may be viewed by all stakeholders, which will speed up the supply cycle (Accenture, 2018).

Since delays directly impact the quality of customer service, Blockchain eventually has the potential to boost customer happiness by giving on-time data to many stakeholders and shortening the order-to-product cycle time. It will also lessen the Bullwhip effect by demonstrating a continuous flow of information.

•

Facilitating interaction between multiple parties: A significant difficulty that affects the traceability of information along the chain is the exchange of information across the many supply chain stakeholders. Sharing information efficiently across the several stakeholders engaged in supply chains will be a crucial benefit in assuring traceability and lowering inherent risks because blockchain offers immutable and irrevocable qualities. Additionally, in the future, quick and transparent Blockchain will offer the required information access.

2. Transportation Solutions •

Removing transportation intermediaries: 95 percent of transportation businesses are categorized as SME's if they just have a few trucks in their fleet. This makes it difficult to match shippers and carriers, which results in delays in shipments. As a result, supply chain intermediaries who are responsible for approving the documentation for shipments, including that for planning, coordinating, and providing services, are frequently to blame for shipping delays. By capturing crucial shipping data produced by sensors attached to all parties involved in transferring things from one location to another, the Blockchain will present a chance to do away with transportation intermediaries. Due to an excessive reliance on paper transactions, the Blockchain will also lower processing and administrative costs.

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•

Supporting the use of autonomous vehicles: Traceability technologies are used in blockchain solutions to instantly digitize the identity of the equipment. Blockchain might offer a chance to acquire data from the equipment and regulate it by utilizing the sensors and timely sending the current info.

This chance will also present prospects for deploying intelligent autonomous vehicles. For instance, businesses can immediately sign contracts with a logistics service provider about the rental of self-driving cars using smart contracts on the Blockchain. They can also pay both the supplier and the charging station. Blockchain also keeps track of information like traffic and weather conditions as autonomous vehicles go to various locations. Other vehicles connected to the Blockchain network can access these data, making autonomous vehicle systems more dependable and quicker. In the long run, combining Blockchain technology with self-driving cars could help to lower transportation costs and congestion on the roads.

Concluding Remarks A dynamic and competitive corporate climate has made the subject of how to convert linear relationships into various network relationships a focus of supply chain management (SCM). In this situation, blockchain technology can provide answers to the issues the multi-actor logistics industry is currently experiencing. If logistics systems can be integrated with a transparent and reliable information network like Blockchain, prejudice and triviality can be reduced while maintaining data trust, and all stakeholders can work together in a trusted environment. This qualitative research has revealed both the positives and drawbacks of blockchain technology. Block chain technology, in particular, gives us accessibility everywhere to develop a decentralized management that can manage your information and data flows swiftly and reliably. It provides unrestricted access to any process carried out in any block chain. Parties can safely execute their transactions and all necessary transactions can be completed in a short amount of time.

About Author: Meghna Rastogi is currently working in Apple, California. She has 13 years of experience in the software and telecommunications industries, QA Analyst and Certified Scrum Master. Excel at having productive interactions with the product management team, project managers, and developers. Self-driven, able to handle multiple tasks, quick to pick up new skills, and committed to meeting deadlines and customer expectations for software projects.

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Mr. Sharabh Attray Capital Assets Exchange and Trading, Osaka (Japan) Global Inspection Specialist & Account Manager Zero Defects in Quality Management

The quality of goods and manufacturing processes can be improved in numerous ways today thanks to digital technology and CPPS systems. For instance, a production line that collects and analyses massive volumes of digital data improves the fast and precise detection of defects and problems.

Additionally, they give manufacturers the ability to detect and foresee potential flaws so they can take corrective action to assist prevent quality problems or lessen their effects. One of the most wellknown applications of quality management is what is conveniently referred to as predictive quality.

To ensure that no defective items leave the production site, it is also possible to integrate proactive and corrective tactics from other disciplines (such as maintenance, logistics, and process control).

Zero Defects Manufacturing and quality management provide manufacturing businesses with considerable financial and qualitative advantages. However, they are also important forces behind sustainability. For instance, early defect detection eliminates quality problems and reduces scrap.

Like how data-driven process control chooses settings to prevent defective goods, waste reduction is facilitated. Another notable illustration is scheduling the maintenance or repair of an asset according to the best time of day. By doing this, the asset is used to its full potential while reducing the likelihood of failures that produce waste and scrap. These tactics can be applied at several levels, such as the level of a single asset (such as machinery or production lines), the level of a production process (such as across several production lines), and the level of production for an entire facility. Combining techniques at several levels and applying closed-loop control can result in significant sustainability benefits. The latter goes beyond merely identifying the issue and uses control mechanisms to prevent or lessen it. In general, these techniques are particularly effective instruments for sustainable manufacturing because they assist both the economy and the environment.

Zero Defects: The Theory and Implementation The principle of zero flaws guarantees that a project has no waste. Waste includes all ineffective procedures, resources, personnel, and so forth. The elimination of waste is the process of getting rid of anything unproductive and non-value-adding from a project. By removing waste, a process of 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

improvement is sparked, which reduces expenses. The idea of "getting it correctly the first time" to avoid expensive and time-consuming corrections later in the project management process is common with the zero defects hypothesis.

You can use the following techniques to put a zero defects strategy into practice: •

Manage process changes efficiently: When you determine that your company should adopt zero defects, be aware that this will probably need a significant shift from the methods that have long been considered the best. Follow the four fundamental tenets of change management to manage a zero-defect approach. As follows: 1. Understand the Change 2. Plan Change 3. Execute Change 4. Communicate Change

Consider the standards of excellence that your clients have: While it's crucial to design systems that enable zero defects, when necessary, don't go overboard if the end user won't care.

Incorporate quality into performance expectations: Provide your employees with incentives for coming up with zero-defect solutions by rewarding them when they succeed.

Adopting the poka-yoke: Poka-yoke, which is pronounced "POH-kay YOH-kay," was created more than 50 years ago by a Japanese industrial engineer named Shigeo Shingo and means "avoid unintended mistakes." Poke-yoke focuses on developing systems that make errors virtually inescapable or, if they are, at the very least, simpler to identify and fix.

Prioritize ongoing improvement and efficiency: You must be proactive if you want a flawless product. With this strategy, each team member constantly assesses the robustness of their preferred processes and looks for methods to enhance and increase their efficiency. By incorporating the zero defects mindset into the corporate culture of your company, you can encourage your employees to achieve this.

Measure your quality efforts: It is critical to express your team's progress through the bottom line.

Create baseline measures to help you understand the financial impact of flaws on your business and later quantify the advantages of correcting them.

Track the progress of your team: Include feedback-generating mechanisms in your processes, procedures, and systems. As a result, you can react rapidly when errors occur.

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The Principles of Zero Defects The implementation of the zero defects hypothesis in actual projects is based on four components.

1. A state of quality is one in which requirements are met. Therefore, having no flaws means that the project has met all the requirements as of that point.

2. Accurate on the first try. Instead of correcting issues later, quality should be incorporated into the process from the start.

3. The value of something is quantified financially. Waste, output, and revenue all need to be evaluated in terms of their effects on the budget.

4. Performance should be measured against acknowledged standards as closely as feasible to perfection.

Zero Defect Manufacturing Implementation Fortunately, modern advancements like artificial intelligence and machine learning can assist businesses in raising the calibre of their products while lowering (if not eliminating) flaws.

Implementation is separated into the following two groups: Detection: The accountable parties conduct tests, examine the results, look for weaknesses, and, if necessary, fix them. Simply said, identify the issue and resolve it.

Prevention: Investigate potential process variations, as well as ways to make the processes better and deal with any unwanted deviations. In other words, observe how things are done, consider what can go wrong, and attempt to avert issues by implementing adjustments.

While the ZDM concept has been around for over a decade, Industry 4.0 enables its practical and cost-effective realization.

Industry 4.0- and Zero-Defect Manufacturing The industrial sector has sought to attain Zero Defects Manufacturing for many years, but it has only recently been realized that this objective is feasible due to the emergence of Industry 4.0.

The application and adoption of new technologies in the sector have made it feasible to build more thorough controls that enable the discovery of flaws at any point in the production process.

Information digitization also has a significant impact because it has made it easier to store, organize, and share information. By utilizing these technologies, it is thus possible to identify defects and analyse the data gathered to ascertain their origins and potential remedies.

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Benefits of Zero Defects Manufacturing Zero Defects Manufacturing implementation in the manufacturing process can require a significant initial effort because new systems and programs must be used, as well as calibrated to perform the desired functions. However, once the defects are removed, a handful of benefits are realized: Error prevention: It is feasible to identify the sources of defects and take action to stop the development of further defects in the future by identifying defects in various process steps.

Prevent Defects: Some of the used machines or instruments likely have defects that have occurred due to wear and tear or other factors. Before it creates more issues, it will be possible to replace or fix it after it has been found.

Cost reduction: It will be feasible to stop using defective products by spotting them early, saving the resources that would have been needed for the rest of the production process. Additionally, such things might be repairable so they can still be marketed.

Better Image: A better impression is given to the public and potential customers by reducing the number of defective products.

Pros and Cons of Zero Defects When building items to customer requirements, waste and cost savings are the obvious benefits of obtaining a zero-defect level. Zero defects equate to increased customer loyalty and happiness, which inevitably boosts sales and profits.

However, a team could end up striving for a flawless process that is unachievable if they have a zerodefect goal. The time and money invested in achieving zero defects may harm performance and lower employee happiness and morale. When you consider the entire supply chain including other manufacturers who might have a different definition of zero defects, there may potentially be detrimental effects.

Conclusion In the end, the pursuit of zero defects is a commendable goal in and of itself, and most businesses find that the benefits exceed the drawbacks. Companies can enhance procedures and foster a culture of continuous service improvement by aiming for strict yet acceptable standards of defects.

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About the Author: Sharabh Attray, working as an Account Manager for an American company which is Capital Assets Exchange and Trading company here in Osaka, Japan. I graduated from DIT University, Dehradun.

He has been working in Japan for over 4 years now and has worked in Aerospace, Energy and Semiconductor industries within Engineering domain. As he loves working with people more than machines, he moved to International Sales & Marketing role, honing his customer service, negotiation, presentation and management skills.

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Mr. Chandra Sekhar Kandukuri Woolworths, Melbourne (Australia) Inventory Manager Warehouse Automation: Rise of warehouse robots

Automation of the movement of inventory into, within, and out of warehouses for delivery to clients is known as warehouse automation. A company can reduce labor-intensive tasks that require repeated physical labor, manual data entry, and analysis as part of an automation initiative.

Here are the numerous types of warehouse automation, which have become more prevalent as technology has progressed through time: Goods-to-Person (GTP): The best way to boost productivity and ease traffic is via good-to-person fulfillment. Conveyors, carousels, and vertical lift systems fall under this category. The pace of warehouse picking can be doubled or tripled when GTP systems are used effectively.

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Automated Storage and Retrieval Systems (AS/RS) are a type of GTP fulfillment technology that entails automated systems and tools including material-carrying vehicles, tote shuttles, and miniloaders to store and retrieve materials or goods. Applications for high-volume warehouses with limited space frequently use AS/RS systems.

Automatic Guided Vehicles (AGVs): The onboard processing power of these mechanical automations is modest. These vehicles travel a predetermined path across the warehouse using magnetic strips, wires, or sensors. AGVs can only be used in big, straightforward warehouse locations with this navigation scheme. AGVs are not a suitable fit for complicated warehouses with a lot of foot traffic and limited space.

Autonomous Mobile Robots (AMRs) are more adaptable than AGVs and employ GPS systems to design efficient paths through a given warehouse. AMRs can safely maneuver in dynamic situations with a lot of human traffic thanks to their sophisticated laser guidance systems, which are used to detect obstructions. They are simple to implement quickly and straightforward to program with routes.

Pick-to-Light and Put-to-Light Systems: These systems guide warehouse pickers where to place or pick up certain items by using mobile barcode scanning devices synchronized with digital light displays. In high-volume settings, they can significantly reduce walking, searching, and human error.

Voice Picking and Tasking: This voice-directed warehousing technique, sometimes referred to as pick-by-voice, makes use of mobile headsets and speech recognition software. In order to instruct warehouse workers on where to pick up or store a product, the system generates efficient pick pathways. By doing away with handheld gadgets like RF scanners, this strategy allows pickers to focus on their work more safely and effectively.

Automated sortation systems: use RFID, barcode scanners, and sensors to detect products on conveyor systems and direct them to a warehouse location. In order fulfillment, businesses employ automated sortation systems for order receiving, picking, packaging, and shipping.

Emergence of Warehouse Automation Without a shadow of a doubt, the emergence of warehouse robotics has fundamentally changed how warehouses operate and transformed the warehousing sector. First off, it greatly facilitates the movement of big products inside warehouses. As a result, it helps to lessen reliance on the labor force. Today's fast-paced e-commerce environment presents warehouse managers with a variety of logistical difficulties 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

The warehousing sector of the economy consists of a number of repetitive, process-oriented, and error-prone tasks. By removing the human element from processes like picking, packaging, putting away, receiving, etc., automation in this industry can make them much more straightforward, accurate, and productive. Robots free warehouse employees from their most tedious and repetitive activities, increasing staff retention and operational productivity.

They enable warehouse managers to concentrate on crucial business functions like consumer care and upkeep. Robotics also makes it possible for a secure workspace. They protect the workers from mishaps involving machinery, large pieces of equipment, and hazardous working conditions. Last but not least, deploying warehouse robots enables the warehousing sector to operate around-theclock. In the current era of online shopping, this is highly important. Fully automated warehouses without a human crew are the way of the future.

One explanation is the pandemic's emphasis on the necessity of supply chain resilience.

Approximately 80% of retailers want to strengthen the reliability of their supply networks.

Resistance to robots and automation, both of which can increase supply chain agility, has decreased during the past year. It has become obvious that businesses can't solve problems the way they solved similar problems in the past as consumers expect more options, lower costs, and faster deliveries— and are able to change their spending patterns with a mouse click. They must reinvent their logistical processes by identifying the secret route that will enable them to be affordable, adaptable, and resilient.

Due to the relatively little investment needed to adopt robotics, many providers choose to lease robots for a number of years, which usually fits with third-party logistics (3PL) providers' agreements with their clients. Additionally, leasing the equipment enables businesses to scale up or down as necessary.

Robotics Supports E-Commerce The pandemic has helped the e-commerce industry. In fact, it has presented operators of warehouses and distribution centers with a significant logistical issue. Warehouses are using robotics more than ever before to handle the situation and satisfy growing client needs. As a logistics service for businesses in the fashion, footwear, activewear, and general merchandise industries, National Logistics Services (NLS) collaborates with numerous brands whose online sales increased as a result of the pandemic.

NLS implemented 27 full-time Chuck robots to service its customers. Chuck quickens the pace of labor by automating the selection of "eaches" for online orders. Chuck shortens the time between picks yet the operation of selecting a product from a shelf and placing it in a package often doesn't change. Chuck does this instead of a picker moving materials to the processing sections. Chuck also moves the carts, cutting down on walking time and increasing production even further. The Chucks' artificial intelligence also improves productivity. Each Chuck is familiar with the layout of the facility and is able to determine the best picking and packing orders. Chucks can also be simply moved between NLS's locations as needed.

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After adopting the robots, NLS may experience increases in picking productivity of 50% to 75%.

Robotics in warehousing provides a competitive advantage and is a wise decision to set oneself apart from the competition. In addition to all of this, one issue caused by the labor scarcity and rising demand was successfully solved by warehouse robotics.

Countering Misconceptions Although there are increasing applications of robots and other automating technology, some misconceptions still exist. One of these is the assertion that "robotics is still not ready for prime time." But the increasing number of successful applications shows that robots aren't just for research labs anymore; they're now in use. Some people believe that integrating robots necessarily results in workforce reductions and the removal of racking or other equipment. Robots can frequently coexist with a company's current organizational structure, and employees can be redeployed. Although picking is frequently what warehouse robots are most known for, they can also perform a variety of tasks, such as returns, replenishment, and sorting.

Ensuring Success There are a few crucial steps in the deployment of robotic solutions. Finding the ideal system for your needs is the first step. "One robot does not fit everyone" Different robots may be required for various tasks. Companies should identify workflows and plan to automate them with the purpose of constant improvement rather than focusing on perfection from the start. The provider of the technology should make this possible while also ensuring dependability. Where possible, practical solutions should support do-it-yourself modifications. Let's say a business needs to alter the third shift's material flow. An employee can decide against making the adjustment if doing so necessitates calling the vendor to have the robots' programming changed. A solution must be put into use, with any necessary mock data deployments, in order to be properly tested. If it is consigned to a back corner and is kept separate from the main workflow, it cannot be tested. You must put it into use, run it, observe how it functions, make any necessary adjustments, and wait for the machine learning algorithm to pick up new information from various instances or circumstances that may arise while it is in use.

About Author: Chandra Sekhar K an Inventory Manager working in Woolworths at Melbourne, Australia. He handles business development operations for enhanced productivity and operational efficiency. He is an dedicated and detail-oriented finance graduate committed to the teamwork that leads to a team’s success. Focused on continual professional and personal growth, including the improvement of business and economic knowledge.

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Mr. Shamik Bhardwaj Best Western International Inc., Arizona (US) Senior Analyst How Big Data & Analytics are revamping Third-Party Logistics

Third-party logistics (3PL) warehouses are having trouble navigating the steady stream of data coming in from around the globe and organizing it all. The ability to successfully use big data has never been more vital to operations. The influx of information and data from various sources has made it difficult for 3PL suppliers to find some organization. They need to develop a detailed plan for utilizing the data. The majority of individuals are trying to predict how analytics will impact corporate operations in the present and the future.

More data-driven decisions are necessary for future success. Big data will be crucial for third-party logistics in all areas. According to the 2021 Logistics Industry Report, 84 percent of third-party logistics and 81 percent of shippers must employ big data to improve the efficiency of their supply chains.

Where Does the Data Come From?

For big data to function successfully, it needs accurate information. However, you might be curious to know where the 3PLs get their data from. The following is a list of the many sorts of data that 3PLs use to manage their operations, provide the highest degree of customer care, and please their clients.

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Digital barcodes

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Organizations and conventional operating systems

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Order information from marketplaces and shopping carts

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GPS/location information

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Information from social media

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Advertising data

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Website browsing patterns

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All of the aforementioned data sources contribute to the advancement of big data and automation technology, which benefits manufacturing, warehouse requirements, logistics, and last-mile delivery.

Speeding Up the Last Mile With cellphones that have GPS and the internet, last mile analytics offer the following useful information. Sensors and scanners can be used by shippers to inspect the entire delivery process, including the difficult last mile. Here is an illustration of a situation: A delivery vehicle with a GPS sensor drives to a downtown area to complete the delivery. Close to the delivery location, the driver stops the car, takes the package, and makes his way to deliver the package on foot. The delivery person's GPS-enabled smartphone then takes control and continues to stream data. Everything is tracked, including the delivery's duration and success rate. All of the information gathered is valuable to the final consumer, the brand and the logistics provider.

Multi-tiered systems are frequently used in big cities, such as smaller distribution centers that are dispersed throughout neighborhoods, predetermined parking spots for delivery drivers, and even areas where relatively small delivery vehicles are more useful than large trucks, the patterns created can be examined in order to better optimize deliveries for speed and success.

Improved Customer Service with Big Data Any firm that improves customer service benefits. Big data technology provides a window into the thoughts and feelings of consumers about a business. The feedback can then be used to enhance the business or brand.

Customer input should always be used to enhance the company's overall customer experience.

Businesses frequently ask their consumers via social media networks what time they anticipate receiving their orders after placing them. In order to guarantee that the orders are fulfilled within the time frame given by the clients, the data gathered can be used as a target.

Supply chain automation and 3PL warehouses The objective of making logistics a fully automated operating process is being moved forward by the combination of big data and automation technology. Through a range of data streams and types, big data enables automated systems integrated with warehouse management system software to operate successfully. Amazon, which continues to be a leader in supply chain logistics, is in charge of the orange KIA robots. Automation is in place at all of their fulfilment centers. Amazon even uses unmanned drones to deliver packages if you live less than 30 minutes from an Amazon facility. Uber is yet another pioneer researching automation with autonomous vehicles.

As innovation evolves, automation and the future of delivery go hand in hand. Humans will always be part of the last mile of delivery, especially in metropolitan areas where delivery drivers can use scooters or bikes to navigate the crowded city streets 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

Big Data and Automation A thriving logistics business is aware of how important customer happiness is. Every experience is recorded either positively or negatively to see whether customers are actually happy. For simple tasks, a bot driven by artificial intelligence (AI) can be quick and effective. They respond quickly to the most frequently asked queries. However, there are times when a customer needs a real person with actual skills. Although AI cannot communicate empathy, by accelerating and streamlining the entire process, they significantly increase customer happiness. Huge volumes of data could be better understood with the help of AI. The preferences of your clients and the objectives of your business, among other factors, will influence how artificial intelligence forecasts and even suggests the ideal alternative. AI will enable you to choose which client contacts are best handled by a bot and which ones need your direct attention. Stronger connections and insight are made possible by predictive analytics, machine learning, and AI integration throughout the employee and customer experience, allowing your staff to engage with customers and build brand loyalty more successfully. Customers have high expectations, and the logistics sector is very competitive. AI recognizes and understands potential clients or customers to decide how to interact.

Conclusion Big data analytics will be the future of logistics. 3PLs must learn how to correctly evaluate and comprehend the data in order to gain insight. Data offers insight and the best solutions to enhance every part of the supply chain's operations, from warehousing to last-mile delivery. Undoubtedly, the changes will boost productivity and bring in a period of high consumer satisfaction.

About Author: Shamik Bhardwaj is working as an senior analyst at Best Western Hotels & Resorts. He has 3 years of experience as an Software Developer with a demonstrated history of working in the information technology and services industry. Skilled in Product Lifecycle Management ( Teamcenter ), Python (Programming Language), C++ and Java. Developed an in-house product for organization by pursuing knowledge on and implementing Machine Learning algorithms. Currently developing low code mobile as well as web applications for client on Mendix Studio Pro.

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Mr. Akash Kankanwadi Sine- A Honeywell Company, Australia Customer Operations Specialist Future Of Supply Chain: Seamlessly overcoming the challenges

The logistics of supply chains are constantly changing, and the year 2020 brought about changes that most consumer goods firms weren't acclimated to. In 2022, businesses must face fresh obstacles if they want to succeed in the cutthroat e-commerce industry. A move to online retail, a rise in consumer confidence, unmet demand, and accumulated savings all combine to create a huge potential for firms that are digitally native.

Overview In 2021, significant weather events, port congestion, and industrial delays were among the most frequent supply chain problems (including hurricanes, tornadoes, wildfires, and more). Additionally, there were a lot of outliers to deal with, such as new COVID varieties and manufacturing closures.

Despite having to deal with several natural occurrences and outside influences, many retailers found creative ways to keep their revenue flowing and their customers satisfied.

Some companies switched to backorder sales, while others decided to work with domestic vendors rather than overseas ones. The problems with the supply chain were not resolved by these reforms, but they did provide brands more negotiating power and enabled them to profit during a challenging (and frequently unpredictable) retail year.

Supply chain challenges The COVID-19 epidemic is still causing new, unexpected obstacles to both productivity and profitability in the supply chain ecosystem. The following supply chain issues will be the major ones for product-based companies worldwide in 2022.

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1. Lack of resources Due to a sudden increase in consumer demand unlike anything before, there has been concern about insufficient inputs ever since the pandemic started. Even now, with the supply of many parts and materials being limited, merchants and suppliers are having difficulty meeting this demand. A brand's capacity to maintain its growth in light of these limited inputs is heavily reliant on working capital to get through these slow times and ramp up for peak seasons.

2. Rising freight costs Contrary to earlier predictions, container shipping has become significantly more necessary throughout the pandemic. Global lockdown measures have caused a spike in e-commerce purchases, which has led to a rise in the need for imported raw materials and manufactured consumer items.

3. Shifting consumer mindsets The epidemic has also significantly altered consumer attitudes and habits, lowering the bar for delivery times and raising the standards for a satisfying customer experience, for example. The difficulty lies in building a flexible supply chain that can use automation to maximize fulfillment and easily meet increased demand.

4. Restructuring There is no denying that restructuring is having a significant impact on contemporary retail brands.

This procedure may involve reshoring, switching suppliers, or forging agreements with whole new carriers, among other options. The difficulty with restructuring is determining when a change is necessary and how to implement it as smoothly as feasible.

5. Inflation Businesses must be ready for cost increases connected to the acquisition of raw materials, finished goods, and more as long as inflation persists. As a result of these rising costs, your product-based business may experience excess or surplus inventory, rising storage costs, narrower margins, and decreased income.

Overcoming supply chain issues 1. Maintain liquidity in your company - Secure your company with easy access to funds. After all, having cash on hand can frequently mean the difference between having enough merchandise to meet demand and running out.

2. Add more sourcing variety to your supply chain strategy - Increase the diversity and abundance of your sourcing, potentially even geographically, to benefit your supply chain.

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Building different supplier partnerships make it simpler to be more adaptable and take advantage of a market that is continuously changing.

3. Boost demand forecasting - Automating the computation of these measures is the greatest technique to boost forecasting. To avoid stockouts or inventory shortages, e-commerce sellers are always attempting to strike a balance between their inventory levels, warehousing expenses, and client demand.

4. Stay resilient - Retailers who stay resilient in the face of supply chain challenges have the best chance for success. Your business will be better able to respond to unforeseen events and make any necessary strategic pivots if you maintain flexibility.

Conclusion In order to improve their bottom line and keep their client base during the past few years, businesses of all sizes have had to rethink their operating tactics. Brands are, in some way, strengthening their resilience against future shocks and mending their fault lines via SCM transformation in the midst of the global crisis and supply/demand issues. Not only has the pandemic increased the demand for greater supply chain optimization, but also for quicker decision-making.

About Author: Akash Kankanwadi a supply chain and logistics expert who is currently working in Sine-A Honeywell Company at Adelaide, South Australia. He enjoys taking on new challenges to sharpen his analytical and decision-making skills as he is a quick learner. He possesses knowledge of operations management, supply chain management, and CRM.

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EMERGING MANAGERS

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Ms. Apurva Sheth Masters in Global luxury goods and service, 2021-2023 Politecnico di Milono, Italy Entrepreneurship for Supply Chain Management & Logistics Entrepreneurship is a broad term defined as “the pursuit of opportunity beyond controlled resources” It is a definition that has been widely accepted until now because it fully encompasses what is required of a person interested in starting as a budding entrepreneur—breaking down your definition of makes it much easier to understand what kind of business you want to begin with. Entrepreneurs play a key function in any economy, the use of their capabilities and initiative is essential to expect wishes and produce excellent new thoughts to market. Entrepreneurship that succeeds in taking over the dangers of making a startup is rewarded with profits, fame, and persistently increased opportunities. Entrepreneurship that fails consequences in losses and much less incidence withinside the markets for the ones involved. Entrepreneurship as a socio-economic and organizational phenomenon has attracted increasing attention from academics, corporations, governments, and society over the past years. Both the practice of social entrepreneurship and supply chain management is evolving in. The idea that the elements of supply chains, from suppliers by suppliers to customers by customers, can be used in a business is strong. We call this emerging concept entrepreneurial Supply Chains and believe that companies should proactively implement and practice it. But since this is a new concept, maybe we should set the stage to explain exactly what we mean.

Entrepreneurs capture an opportunity this is often fleeting. There is constantly a threat that a person thinks of it or has the approach to behave on it earlier than absolutely everyone else.

"Pursuit" implies the experience of urgency wanted to attain the goal. Many entrepreneurial elements are timesensitive, so it calls for wondering quickly. Going in addition to the definition, they used "opportunity" to check with the general idea.

When it comes to the technique of converting raw materials into products that can be used by consumers, then the entrepreneur knows the supply chain. Within an organization, the supply chain encompasses numerous functions “along with inbound and outbound transportation, warehousing, and inventory control. Sourcing, procurement, and supply management also fall under the supply chain umbrella. forecasting, production planning and scheduling, order fulfillment, and customer service are also part of the system”.For an entrepreneur's business to be successful, he must closely control his supply chain and continuously deliver his quality products and outlets to customers on time.

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A company's style for its network of supply chain partners reflects the company's pursuit of imaginative associate degree opportunities to create supply chains with the best value in terms of agility, capability, and alignment. This study develops a framework of inquiry that proposes that an organization with a business network of supply chain partners, characterized by strong and highly diversified relationships, enjoys high levels of relative learning, trust, and integration, and is more competitive than The 3 Relational Competency styles practice positive impact on the agility, adaptability, and alignment of the supply chain. The framework provides a theoretical platform to guide future research and engage with entrepreneurship in the supply chain.

Supply chain management works by coordinating procurement, providers, manufacturing facilities, retailers, distributors, and customers as they move along through the production, sales, and purchasing cycles. the supply chain needs active management because it is influenced by several factors on the far side of the company's management corresponding to Gas costs and environmental conditions. once an organization is responsive to these factors, it will manage them a lot more effectively. With effective SCM, inventory, production, distribution, sales, and supplier inventory are tightly controlled.

SCM suggests dominant prices at each step and delivering the products to customers as presently as possible. it's assumed that each product available exists due to the various participants within the supply chain.

When done effectively, supply chain management helps a company gain a competitive edge by getting products to customers faster. Here are some ways SCM can do this without requiring the company to lower prices: •

SCM lowers the cost of doing business- This is achieved by reducing purchasing and production costs. For example, if you own a grocery store and buy tomatoes directly from the grower, you save yourself the expense of buying products through a third party. Buying direct from the source saves you money and gets groceries to your shelves faster.

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SCM creates partnerships that can support future growth- As a grocery store owner, forming strategic partnerships with farmers early in your business operations allows farmers to expand their operations as you expand yours.

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SCM helps to align product supply with market demand- If you buy tomatoes directly from the farmer, you can better negotiate and adjust the number of tomatoes you buy each season using the grocery store example.

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SCM enables more efficient and effective customer service- This happens because customers receive their products quickly and as promised. For example, if the farmer takes the tomatoes straight to his supermarket, the product is likely to be fresher and less damaged than if it went through an outside supplier before reaching his shelves.

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Example of SCM Understanding the significance of SCM to its business, Walgreens Boots Alliance Inc. is determined to convert its supply chain with the aid of using making an investment in the era to streamline the whole process.

For numerous years the corporation has been making an investment and revamping its supply chain control process. Walgreens became capable of using huge information to assist enhance its forecasting abilities and higher manipulate the income and stock control processes.

This consists of the 2019 addition of its first-ever Chief Supply Chain Officer, Colin Nelson. Its function is to enhance consumer delight because the corporation will increase its virtual presence. Beyond that, in 2021, it introduced it might be presenting loose two-hour, same-day transport for 24,000 products in its stores.

Why is Supply Chain Management Important?

Supply chain management is vital as a result it will facilitate the success of numerous business goals. For example, dominant production processes can improve product quality, and reduce the danger of remembers and lawsuits, whereas serving to create a powerful client brand. At the same time, controlling transit procedures can improve client service by avoiding pricey bottlenecks or periods of excess inventory. In general, supply chain management offers various opportunities for corporations to boost their profit margins and is especially important for companies with giant and international operations.

Conclusion SCM competition incorporates a positive impact on SCM strategies by demonstrating the link between quality ability and economical alignment of the organization. Delivering products to their customers effectively and expeditiously is the concern of SMEs. because of international competition, the purchaser has additional data and alternatives to change to a different company wherever their desires and wishes are met. The necessity for communication is the need to stay in society with folks who share similar values (values of Orthodox culture, traditions, family)

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Mr. Parth Shah MSc Strategic Marketing Management, 2022-23 Aston University, England Productivity and it’s Role in Shaping Economies and Businesses Simply explained, productivity measures how much economic value is increased for a given amount of time and labor. Productivity increases profitability because a company can now manufacture more goods at the same price. Additionally, advances in technology have the potential to increase production.

This is why productivity is so important for the economic development of countries and enterprises, as well as for raising the value of people who can now demand higher wages because they are creating more with less effort. Efficiency improvements are a guaranteed way to boost earnings in these tough economic times without adding to costs because the market and demand are weak.

Importance of Productivity in Business Business growth is important because it enables a company to increase or maintain its competitiveness in the marketplace while also meeting its commitments to shareholders, customers, suppliers, employees, and the government (through taxes and regulations). Without productive employees, this is impossible to do.

One of the key management issues is employee productivity, and almost every company has created processes for gathering, analyzing, and reporting productivity data. The more the company fosters a culture where quality is continuously improved, downtime is decreased, and inputs of labor, materials, energy and acquired services are increased, the more the company will profit.

According to studies, there are two areas where increased productivity is felt: Business advantages and Microeconomic advantages1. Business advantages •

Increased profitability- If your company is more productive, it suggests that activities are being completed with higher quality while utilizing fewer resources,

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such as time, people, and money. Your organization will be able to save a lot of money if you can execute work to a high degree while utilizing fewer resources. The majority of businesses ultimately exist to generate profit and money.

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Reduced operational costs- Increasing business efficiency has the additional benefit of most likely lowering operational costs for the organization. They are essentially the expenses connected with the regular upkeep and management of a corporation.

Payroll, rent, and the cost of items sold are a few examples of operational expenses.

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Improves customer service- Most of the time, increasing efficiency has positive effects on all areas of the business, including customer service. Customers benefit as well from improved, more effective, and efficient systems and operations. This could imply that the goods or services are of a higher caliber or that they are delivered more swiftly.

2. Macroeconomic advantages •

Environmental benefits- When people are ineffective, the ecosystem suffers. Having a plan and finishing activities faster results in less electricity being used. Time, money, and resources are all wasted when there is no focus. A happier and healthier work environment is produced when people are more productive.

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Increased competitiveness- An advantage for a firm comes from completing tasks faster, more effectively, and better than rivals. Productivity growth promotes competition growth. With decreased operating costs, the company can offer goods and services at a cheaper cost than its rivals, increasing the value added to the customers.

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Increased Prosperity - No matter how big or small a firm is, its success contributes to economic growth and a rise in living standards. According to the World Bank, SMEs account for up to 40% of GDP and up to 60% of all employment in emerging nations.

These companies' contributions to the economy will increase as they become more productive and inventive.

How Productivity Has Helped in Maintaining Competitiveness Western countries were the forerunners of several breakthroughs, including the steam engine, automated vehicles, and railways, which made it simpler for them to create more, move their goods, and reach their destinations quickly. Following the Second World War, the developed world realized it had the required economic foundation to propel itself into the leading position in the global economy, which led to the next wave of productivity growth. They were able to take advantage of technology by developing the assembly line and mass production of items.

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With the advent of computers and the quick spread of desktop computing made possible by technological advances and discoveries like microprocessors and the personal computer, the third wave of productivity enhancement was born. The globe, and the west, in particular, gained from the information revolution as ordinary chores were automated, freeing the people to engage in more value-adding activities. This is comparable to the first two waves of innovation.

It is important to keep in mind that by being more productive, you would have an advantage over your co-workers, whether you are just starting your career or are already in the workforce. As can be seen from each wave of productivity increases, it is always the smartest, most cunning, and most innovative firms which reap the benefits.

Conclusion Business productivity is crucial and may be increased by process optimization, technological investment, innovation, and staff commitment to delivering high-quality work on time. Your firm can expand and prosper if the necessary factors are there and you have a well-defined strategy. It must be highlighted that life and work should be viewed as a continual learning process rather than as a place where one grows accustomed to one's current situation. One must therefore add value to their organization and control their destiny to avoid becoming redundant. This will prevent from falling victim to the ebbs and flows of fortune and fate.

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Mr. Rohit Wadhawan PBD healthcare management program, 2022-2024 Cape Breton University, Sydney (Canada) Operations in Health care

What is health care operations?

Health care operations consist of the administrative, monetary and legal sports of a sanatorium, forte practice, ancillary care company or remote health service center. Fitness care experts want to get a manage on operations due to the fact, at minimal, they enable running the business.

Why health care operations management matters?

Both the health care industry and healthcare software program are tremendously various in terms of provision of care and groups served, which makes health care operations control a beast unto itself.

Proper operations control is essential.

The product or service that a business enterprise offers effect the manner it must behavior operations management. In fitness care practices and facilities, operations management is accountable for facility oversight, group of workers capability and transport of the pleasant care feasible.

Some examples of health care operations consist of patient case control, coordination of care within and without a practice, economic management, and clinical exercise human assets.

How operations management is leveraged in health care?

Health care operations takes a variety of forms. As noted above, health care operations span the spectrum of administration to care shipping. Underneath are example regions that benefit from operations management.

Medical care management- The fitness care enterprise is a service industry, so it makes feel while groups make a concerted attempt to standardize protocol to improve performance. Enhancing clinical care control can bring about reduced readmissions and stepped forward affected person-company relationships.

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Risk control- Medical practices improve while providers mitigate and optimally manage chance.

Examples of danger in a fitness care putting range from affected person or body of workers accidents to ballooning costs of highly-priced services. Hospitals can leverage predictive analytics generation to cut down on extravagant or extraneous charges even as striving for advanced affected person delight.

Financial control- Fitness care operations control deals with decreasing and optimizing fees in a scientific business enterprise. Scientific practices and hospitals have many issues controlling expenses. Price issues can come from useless treatments or medication prescriptions, treating uninsured sufferers, or budget discounts that immediately impact the era, gadget and salary sources of clinical personnel.

What is operational excellence in health care?

“Operational excellence” is a term that comes up whilst you speak about effective and efficient health care operations. Health care providers are devoting greater time and assets in the direction of improving clinical operations. When operational excellence is chased, groups see economic advantages and increases in body of workers productivity. Medical operational excellence typically starts at the pinnacle (for example, with needs from stakeholders), however depends at the mind-set and behaviors of workforce at every organizational level.

Operational excellence leads health care companies to reach and preserve aggressive gain within their enterprise. By means of developing and maintaining operational excellence, scientific body of workers are primed to productively reply to sudden adjustments in management without compromising their organization's give up goals. At the cease of the day, medical excellence immediately translates to imparting patients with a complete and pleasant revel in.

While practices, hospitals and clinics obtain operational excellence, any trade in manner can bring about increased operational performance, discount of medical variability and maintained or maybe advanced care nice. Meaning centers and scientific specialists can keep up with industry and technological trends, ensuring modernized practices that may offer the pleasant take care of patients, irrespective of analysis, scientific needs or the supply of medical offerings.

Reduce inefficiencies with health care operations answers Innovation of health care technology drives industry tendencies that require evolving and adapting of set fitness care methods, protocols, law and strategies. Health care operations management is a place that undergoes alternate on every occasion patient and enterprise expectancies change.

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Irrespective of what fitness care operations software your facility chooses to put in force, it's going to assist you address and remedy inefficiencies which are preventing your medical staff from doing what they may be trained to do: care for the affected person.

Data Capture- Shooting and reporting on facility and patient facts is tough. Electronic health data and clinical verbal exchange software program help a bit, however in case your exercise isn’t interoperable, you’re caught with disparate resources of statistics needing to be reconciled. Effective data seize helps compliance and auditing, drives key business decisions and prepares your enterprise for any crises.

Reduction of medical variability- Scientific variability influences the delivery of care and guarantees accurate stock stages, deliver fees and workflows. Whilst scientific variability is decreased, each aspect of a clinical agency will gain. Those benefits will affect both body of workers and patients undoubtedly.

Effective EOC - Environment of s of care (EOC) in health care is made of 3 factors: the physical space and format of the health care facility, the equipment used to help shipping of care and constructing operations, and the people that make up hobby within the facility. All three elements make contributions to a fantastic affected person experience, from pre-visit to remedy to post-visit.

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Mr. Yash Bansal MSc Marketing, 2021-2023 Queen Mary University of London E-commerce conclave omni channel model: Future of E-commerce

When it comes to sales, omnichannel retail (also known as omnichannel commerce) focuses on offering a smooth consumer experience regardless of whether the customer is purchasing online via a mobile device, a laptop, or in a brick-and-mortar store. This integrated approach differs from multichannel strategies, where the numerous touchpoints function independently of one another. In other words, an omnichannel strategy eliminates barriers and centers the consumer experience.

What is the difference between omnichannel and multichannel?

Customers can purchase your product through several online and offline channels through multichannel commerce. You communicate with your customers on social media, over the phone, and in person. Your online visibility is strong, and your clients are aware of where to find you. The use of several channels is already a terrific way to increase brand engagement.

Like the multichannel commerce strategy, omnichannel commerce also occurs across a variety of channels. Omnichannel cannot exist without multichannel. Omnichannel commerce connects all channels, which is a significant difference. This indicates that your customer's experience is consistent across all platforms.

Benefits of Omnichannel Commerce In the existing environment, an omnichannel strategy is increasingly taking hold as the norm. 74 percent of retailers have either started working on their omnichannel strategy or have already put it into practice. Companies that have not yet begun to consider an omnichannel strategy are moving slowly.

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Cohesive message - Having multichannel e-commerce has many advantages, one of which is that it gives your customers a consistent message about your business. The messaging is same no matter where a customer encounters your brand.

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Understanding your customer journey - With omnichannel e-commerce, your business may gather and combine client data from several channels. When you combine these data, you get a complete picture of the types of customers who are interested in your brand and their behavior, giving you the ability to tailor your customer experience.

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Better Customer Experience - What do your customers anticipate? A unified experience comes in first place on the ranking. Nine out of ten consumers, according to UC Today, prefer an omnichannel experience with seamless service across communication channels. The necessity for seamless integration from one touchpoint to another is growing along with the number of touchpoints. Whether it's a social media advertisement, an email newsletter, a push notification on a mobile device, a conversion with your chatbot, or a direct conversation with your retail employees. The barriers between channels in a firm are dismantled, giving the customer the freedom to communicate with a business in a method that comes naturally to them.

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Better Data Collection - Retailers who can track their customers across many channels can provide a better experience for their customers. The omnichannel strategy enables businesses to learn how to develop deals and content that will motivate their customers to spend more frequently, both online and in physical stores.

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Improve inventory turnover - It's possible that retailers may no longer lose customers because an item is out of stock. Businesses gain from omnichannel strategies by having a better understanding of their inventory and the flexibility to fulfil requests from any location.

Businesses find it simpler to optimize stock levels and create more intelligent replenishment procedures when they adopt an omnichannel strategy.

Disadvantages of omnichannel •

More channels open the door to online competition - Competition with other retailers or brands will always be difficult. The number of competitors increases as you provide different sales channels. Customers can take out their phones and compare products if they see anything they like in a showroom. There aren't many solutions to this issue besides offering incentives to clients to choose you. You might attract more customers by giving loyal customers discounts or by giving online shoppers and store pickup customers a particular percentage off.

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Omnichannel relies on open communication - Open, direct channels of communication are beneficial for business, but they are often challenging. An omnichannel system won't function

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if various systems can't communicate with one another. A communication strategy should be developed, and all communication channels should use the same IT system. While ironing out the kinks could be difficult at first, the effort will be worthwhile since with time and experience, the process becomes simpler.

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Multiple channels lead to weaker margins - It would seem that omnichannel would have better profit margins. Each channel, though, has a cost. It costs money to store, package, and distribute inventory from several locations.

Building a successful omnichannel strategy Practical advantages of the omnichannel strategy include better inventory management and increased operational effectiveness. However, it's also crucial to keep in mind that an omnichannel approach gives companies the freedom to be innovative with their branding and marketing. After all, they're building a big canopy of unified channels, so whenever possible, a company's own voice should be emphasized.

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Focus on increasing personalized services - Customers need businesses to comprehend their requirements and objectives in the contemporary environment, where personal connection is of the utmost importance. Any effective omnichannel approach should start by using data from CRM systems and in-store technology to personalize the consumer experience.

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Focus on creating memorable in-store experiences - Already, stores are being reinvented, and this trend is anticipated to pick up speed. Offering in-person experiences that engage customers and strengthen the brand is what stores will be doing in the future. Consider the voice of your business and the kinds of experiences that could reinforce it in interesting, worthwhile ways.

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Incorporate interactive technology - Business leaders anticipate that interactive technologies will enhance the in-store experience by increasing engagement and giving customers useful information, according to the Core sight report. According to 22% of respondents, connecting with customers through AI, AR, and VR is crucial.

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Map the entire customer journey - Make sure there are only green lights and no dead ends.

When developing an omnichannel strategy, be careful to consider how the customer will interact with the various touchpoints. Are all of the channels optimized to make the consumer the center of the experience.

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Invest in consumer insights - Utilize useful data to optimize your omnichannel experience.

In the modern environment, data reigns supreme and serves as the basis for the personalization needed to develop an effective omnichannel strategy. Make sure you have the appropriate resources to develop a data-driven plan.

Future of Omnichannel An omnichannel approach has been emphasized by many companies, but really putting it into practice has proven to be more difficult. Leading businesses, however, have a different viewpoint, and a lot of them have already made investments in omnichannel capabilities to place the customer at the center of their operations.

Generally speaking, long-term objectives like: •

Addressing new client demographics

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Customer lifetime value is rising

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Raising operational effectiveness

Businesses and consumers are now able to interact in better, more logical ways thanks to omnichannel experiences. Smaller organizations must change to keep up with larger organizations because companies like Amazon, Disney, and Starbucks have set the standard for omnichannel experiences.

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Mr. Vibhor Gupta MS in Information systems management, 2021-2023 WP Carey School of Business, USA Impact of outsourcing on a company's operational performance Outsourcing is an emerging business trend that has shown to be quite beneficial for companies trying to save expenses while increasing production. Outsourcing routine and low-value work to off-shore corporations frequently reduce costs, extends capacity, and boosts growth in many enterprises. This article examines situations in which outsourcing may be advantageous to a firm and situations in which it may do more harm than good. When a business decides to outsource, it eliminates the need to invest time and money in infrastructure development. Instead, they may put that money toward marketing and R&D, which are more aligned with core company operations that lead to higher valueadded services. For organizations to gain a competitive advantage, a variety of factors must be taken into account, including increased competitive pressures, business challenges, resource constraints, technological complexity, task specialization, the acceleration of environmental changes, future uncertainty, price increases, excessive organization growth, and legal considerations. One of these techniques is to concentrate on core talents while delegating or outsourcing the majority of duties.

So, in order to get the capabilities to perform activities while also providing desirable services to clients and allowing enterprises to respond to a variety of needs, outsourcing strategy is an essential instrument employed by many modern firms.

A corporation may choose to outsource a certain task, operation, or process for a variety of reasons.

Non-revenue generating functions like administration and customer service may be outsourced in order to focus on revenue-creating corporate operations that can increase profitability and sales.

Outsourcing allows a company to leverage on its strengths by allowing employees to focus on their core activities and long-term strategy.

Choosing an outsourcing business that specializes in the process or service that the organization wants to carry out may help the company achieve a more productive, efficient, and frequently higherquality service. Specific responsibilities are delegated to organizations that specialize in that industry. For instance, businesses frequently outsource their shipping operations. They could contract with an outside company to package and deliver shipments to clients. As each duty is delegated to businesses that focus solely on that respected subject or department, this might result in enhanced efficiency.

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Outsourcing can help a corporation free up funds for investment in other areas of the business by reducing costs. Outsourcing corporate functions such as customer service, accounting, administration, and HR-related activities can result in significant cost reductions. This is primarily due to lower wage rates in nations such as India and the Philippines than in the rest of the world.

These countries also have less tax constraints and are generally less expensive to operate, resulting in cost savings for international organizations.

When a company outsources certain components of business processes, accountability for those processes is transferred to the outsourced vendor. They are now in charge of all hazards associated with that process, and because they are specialists, they can better reduce those risks. For example, if a company outsources its logistics services, any problems encountered in LMD are the responsibility of the outsourced organizations. This is one of the primary reasons why most multinational businesses have outsourced their delivery services.

Outsourcing entails giving a third-party direct control over a corporate function or process. As such, it has a few drawbacks. Companies, for example, may have issues when outsourcing a business process since feedback and reporting occur on a weekly, if not daily, basis. This may not be sufficient, especially if the delivery is delayed or the quality falls short of expectations. Measures cannot be implemented as quickly as they could if the department was run in-house.

Outsourced firms frequently work with a wide range of clients and serve the expertise demands of numerous enterprises at the same time. Outsourced suppliers may easily lose track and attention, resulting in lackluster performance on organizational responsibilities. The possibility of losing confidential information and sensitive data is possibly the biggest drawback of outsourcing corporate procedures. When outsourcing divisions like human resources or customer service, the third party is frequently informed of sensitive information that can be readily stolen or provided to the wrong people. When negotiating outsourced negotiations, it is essential to have reliable safeguards against data loss and confidentiality agreements since corporations take intellectual property very seriously.

Although cost-effective, off-shore outsourcing has its own set of problems that any organization intending to outsource its non-essential business functions must carefully consider. These difficulties may manifest as hidden expenses, linguistic and cultural concerns, poor quality, and a lack of client attention. Whether to outsource or keep things in-house is a critical choice that may frequently make or destroy a company.

Apple is one such company which began with the basic desktop, quickly became a crucial pioneer, and then drastically transformed the worlds of music and mobile phone technology. Apple, which is now valued at more than $1.3 trillion, is nothing if not inventive, and millions of customers vouch for its products and ecosystem. While Apple creates wonderful things, it does not make or manufacture them completely on its own. Apple is another firm that outsources, and it relies on many partners in the United States, Asia, and the Far East to provide hardware and services. In some situations, these connections date back decades.

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Apple is able to focus on its core competence - inventing excellent things that people want to use by outsourcing its supply chain and production facilities. However, this partnership benefits both parties. Apple obtains the ability to concentrate on their core competencies. The partners benefit as well since they are aware that Apple is always inventing and evolving. These firms are aware that Apple will release new products on a regular basis. Reasons for outsourcing include cost reduction, increased emphasis on core business, and capacity constraints. Apple has a good understanding of its assets. Furthermore, Apple understands that outsourcing is about developing connections and ensuring that both sides profit. Apple has effectively navigated a mutually advantageous partnership, and it is a relationship that has benefited all of us.

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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 – The Official Operations Club of IBS Hyderabad has always been aspiring “Constant Change 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, and Workshops. LAKSHYA, an initiative of KORE focuses on improving the reader's knowledge about 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

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