LAKSHYA- A BEACON OF KNOWLEDGE, NOVEMBER EDITION, 2021

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 43rd 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

AARATRIKA LAHIRI VICE-PRESIDENT Club Kaizen – IBS Hyderabad Batch 2020-22

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CONTENTS S. NO.

TITLE

PAGE NO.

1

From the Mentor’s Desk

5

2

Emerging Trends in Operations in the Post Pandemic World – An Indian perspective

7

3

Ghost Kitchen: Operationalization & Optimization

10

4

Operations Management Challenges in Startups

15

5

Omnichannel Strategy: Customers don’t worry about anything other than choice and convenience

16

6

The Gaming Industry: Does it make gamers renowned today?

21

7

Impact of GST on Supply Chain

25

8

Cryptocurrency a way forward

28

9

Implementation of E-logistics in Supply Chain Operations

31

10

Use of Procurement Analytics Method in Companies Daily Operations

33

11

Role of IT in Supply Chain Management

36

12

Importance of Service Design in Operations Management

40

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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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FACULTY’S INSIGHTS

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Ms. Chetana G Krishna Assistant Professor, Department of HR & Soft Skills IBS, Hyderabad Emerging Trends in Operations in the Post Pandemic World – An Indian perspective

The Covid-19 outbreak has impacted businesses in several areas like marketing, human resources, operations, supply chain, financial management, customer engagement and risk assessment.

Essential services like pharmaceutical, healthcare, energy, telecommunications, IT, ecommerce and food and beverages will however continue to remain in demand, though their business models or operations might experience a revamp.

The Fitch ratings have predicted that the Indian economy will shrink by 5% in FY 2021 and it has now become imperative that businesses have to accept the new normal, reanalyze and recalibrate the new ways of working. The emerging trends to operate in the post pandemic world are: 1. Adoption of digitization The pandemic has accelerated not only the adoption of digitization but gained customer acceptance through contactless delivery of goods through ecommerce platforms like Amazon, Flipkart, Big Basket, Dunzo and Zomato and services like financial transactions through PayTM and Google Pay to name a few. It has helped in localization of some industries like electronics manufacturing and opened new markets for digitally enabled startups like Meesho and PayNearBy. Other companies which have grabbed this opportunity are TutAR which has developed augmented reality classrooms to make learning more engaging and an AI-algorithm based radiology images company, Qure.ai made healthcare accessible and affordable.

Organizations are also in the process of developing new digital tools to manage day-to-day hybrid and work-from-home operations for other organizations.

2. Reconfiguration of supply chains The pandemic showcased the fragility of the supply chain systems and dependence on China in the manufacturing sector. It made global business leaders to think India as an attractive destination which can supply to western economies; for example, Facebook, Google, Intel, Qualcomm, Silver Lake and Vista Equity invested more than $15 billion in Reliance Jio. Over 1000 companies have shown interest to invest in India of which 300 have been actively pursuing 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

in sectors like mobiles, electronics, medical devices, textiles and synthetic fabric. Korean companies are eager to set up units in iron and steel and hospitality sectors. Foxconn, POSCO and Hyundai steel want to open their production centers in India. Multi-tier supply chains and the availability of 5G network has enabled companies to manage their production and distribution, inventory and logistics.

3. Recruitment and HR management of remote workspaces Job opportunities opened up for gig workers in the nonurban areas as digitization led to remote workspaces. This has empowered companies to obtain diverse skills and expertise without relocation of the employee. Undue overhead costs like office rents, travelling expenses will reduce and virtual interactions will replace face-to-face meetings. HR department needs to apply technology to review the virtual logins and logouts, track work performance, monitor emails, chats, internal communication, assess employee engagement, team collaboration and collect employee health and safety data. Companies need to work on developing a culture of employee inclusiveness to acquire loyalty and employer branding.

4. Fostering learning through online platforms The World Economic Forum had indicated that a major disruption in the labor market will be observed in 15 developed and developing countries leading to a net loss of 5 million jobs and creation of millions of new jobs. Companies need to foster upskilling and reskilling of employees through online learning platforms to remain relevant to the current KSAs and aid them towards career growth.

5. Compliance to new consumer behavior patterns Consumers adjusted to a new lifestyle due to government instituted lockdowns and social distancing norms which is expected to continue even after the pandemic eases. This has compelled retailers to utilize omni-channel marketing strategies to cater to both the online and offline shoppers. OTT platforms and live virtual events are providing entertainment at home.

Wellness, nutrition, music, art and dance classes have turned to online platforms. EdTech platform Biju’s is providing individual learning options for students through online tuitions.

6. Rise of social enterprises A study conducted by University of Strathclyde on entrepreneurship after Covid-19 found that social commitment was the highest in Indian entrepreneurs (among 23 countries) and there was an increased consciousness on social and environmental impact among Indian consumers as well. Several sustainable products were developed majorly in sectors like agriculture, healthcare and sanitation. For example, Maker’s Asylum developed healthcare products like oxygen concentrators and air purification respirators. REVIVE – a grant-based financing model was introduced by Samhita Collective Good Foundation to support entrepreneurs from the informal sector during the pandemic.

The Covid-19 has disrupted many industries like airlines, tourism and hospitality, construction and others. These companies need to work on rapid transformation of their business models and strategies to remain viable in the new normal. An overhaul of systems and skills may be required 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

to be indigenously planned and executed. Though digitization is inevitable, innovation is another factor that will drive growth, cater new opportunities, beat competition and create value to its customers.

References: 1. https://www.gartner.com/smarterwithgartner/9-future-of-work-trends-post-covid-19 2. https://www.ghd.com/en/perspectives/ten-emerging-trends-shaping-our-new-future.aspx 3. https://thescalers.com/business-trends-emerging-in-the-post-covid-world/ 4. https://www.weforum.org/agenda/2021/07/five-post-covid-trends-among-indiasentrepreneurs/ 5. https://economictimes.indiatimes.com/small-biz/sme-sector/top-five-business-trends-to-lookout for-after-lockdown/articleshow/83659312.cms 6. https://redeure.com/2021/06/03/how-india-is-driving-business-away-from-china About Author: Prof. Chethana is an engineering graduate (EEE) with post graduate diplomas in Business Management and Communicative English with 25 years of training experience. She has been associated with ICFAI Business School since 2013 as an Assistant Professor and teaches BBA and MBA students.

She has contributed to the Flexible Learning Program (The Academic Wing) of IFHE by writing content for text book, workbooks, case-lets and PEP notes in courses related to HR and Business Communication. She has published a case in ICMR and written seven articles in national and international journals.

She designs management development programs in Business Communication and Soft Skills for various sectors like paper, power, railways, defense, banking and government institutions. Her experiential training methods and customized activity-driven workshops have been appreciated widely.

She is an avid reader and her areas of research include the impact on business communication due to technology and social media. She also wants to read and explore how soft skills has taken prime attention in the industry in the post pandemic scenario.

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Dr. Surjit Kumar Kar Associate professor, Department of Marketing & Strategy IBS, Hyderabad Ghost Kitchen: Operationalization & Optimization Ghost Kitchen? These are also known as cloud kitchen or dark kitchen or at times as even deliveryonly kitchen. It’s a new trend and practice followed in restaurant and food delivery industry. Online shopping, delivery and payment have become buzz words in people’s lives in many parts of the globe. The demand-supply-capacity equations are getting re-adjusted across economies. Covid-19 related fear has given rise to contactless operations in many industries all over the globe. Food industry and restaurant is a hybrid service where tangible and intangible dominance is almost equitable. Fine dine restaurant are known for strong brand patronage due to the unique delicacies they offer. However, given the pandemic scenario least possible contact the better. Consumers want the same delicacies at the comfort of their house, whether for family retreat or any get together. This offers new challenges to restaurant industry to offer similar values. Online food delivery apps may backwardly integrate to food processing as their private labels. Growth and business expansion to multiple cities in less time, and branding would work as success factors. Thus, quick roll outs of standardized kitchens are the only way. For such operational convenience, there has been a rise in the concept and practice of ghost or shared or cloud kitchens. This article explores the task and broad environment of ghost kitchen operations and optimizations in an Indian context, and regulatory challenges. Delivery-only formats in restaurant industry are not just operationally brilliant ideas, but can be more economic and consumer friendly.

These can operate at fast pace as outsourced partners as well. Human errors and service lapses can be avoided given minimal people to people contact. Investments can be friendlier for entrepreneurial ventures.

A Disruptor? Real estate cost in prime location in a city/ town, man power cost, and other operating costs for running a restaurant have been rising very fast leading to many ventures succumb prematurely. With or without pandemic, the demand for food delivery has been rising stupendously high. Smartphone penetration, digital economy and consumer confidence have collectively impacted this trend in a positive way.

Ease of use and payment, varieties at display, meaningful promotions, brand assurance, and faster grievance redressal are fueling such growth. On top of all, a new sense of inclusiveness, family10| 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

bonding and companionship is a higher value addition, at the comfort of house. The price-qualityservice triad is undergoing a whirlwind in the digital era, with changes in business models.

‘Experience’ is now getting redefined. Pandemic has compelled Industries to change their perspectives and go that extra mile to find out what would be of value today to consumers. Ghost kitchens are in many ways reckoning with these facts.

A Venture? An entrepreneurial venture looks immensely feasible in this context. Without much investments in of deep assets, the business can be operationalized. Keeping the basics shallow, the model can still be made feasible. The choice of location for a ghost kitchen is important because of operational cost and convenience. It does not require a store façade and thus no extra spending on infrastructure is required. The menu item prepared by skilled chefs through SOPs is for pickup for delivery. With no much physical front office and facility management, the format thrives on efficient back-end process integration. However, digital interface offered to users (UX) becomes a key. Ghost kitchen concept leverages out of its low-cost model, and efficiency in its logistics and fulfillment.

Online and social media promotion makes it redundant to look for prime locations unlike physical restaurant. Revision of menu is faster, making it easier for new product introduction with benefits of limitless possibilities. Adapting to changing consumer aspirations on virtual platforms helps such deliver only model to exploit current market potential quickly. The market orientation demand a shift in focus from newness to nowness.

Operationalization? A rental or leased or owned space is first and foremost requirement to prepare order for delivery. Kitchen equipment can vary from simple and basic types to complex, mechanical or automated types. The brand has to make prominent presence across multiple delivery apps, websites, and social media channels. Manpower planning and bit route map planning is a must for daily operations. This task has been easier with rise in the number of online food delivery apps, who can do it more professionally. Such kitchens ideally should have future facility expansion scope.

Order placement by customers can be seamlessly integrated to kitchen’s digital dashboard. The kitchen manpower management is a science and an art, making Kitchen shop floor management crucial for success of such business format.

Accuracy in order fulfillment is an absolute lookout to safeguard brand from possible dilution. Online reputation management team can check on the feedback on a continuous basis and take necessary measures as would be needed in stray incidents of lapses. Logistics and fulfillment can be outsourced to partners/ vendors, and ghost kitchens may stay focused on their core competencies.

Illustrations? ‘BigSpoon’ is an Ahmedabad-based ghost kitchen venture started in 2019 by Kapil Mathrani and Poojan Thakkar, with funding from venture capitalist firms like NB VC (Dubai), CreedCap Asia, Zed Capital, and few noted angel investors. With a promising expansion plan, it is currently a multi-brand and omni-channel business model. Another venture named Qwikpik Technology- a Mumbai-based startup founded in 2016 by Hitesh Ahuja, Rahul Kumar and Reuben Ghosh owns and operates Ghost Kitchen brand ‘Yumlane’. At an early stage it was funded by Jetty Ventures, Singapore; followed by RB Investments and Orios Venture Partners, and few angel investors.

Profitability? Delivery-only kitchens thrive on low cost and high revenue models. Costs can be 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

reduced more efficiently as effective optimization on overheads, labor and raw material costs can be planned. Premium pricing and positioning can be tried with franchised brands. Cross subsidization across products can be possible by offering various promotions to maintain a healthy profitability.

In any case, this model is better in competitiveness and profitability than traditional dine-in restaurant, except for the segment looking out for freak out. Geo and micro level targeting can optimize the model even more.

Optimization? There are many proprietary softwares, e.g., POSist, UrbanPiper, Petpooja, ALGO, APICBASE, Cuboh, DinePlan, Flipdish, Foodics, GOFRUGAL etc which offer end-to-end Food and Beverage Management platforms. These ERP solutions offer back of house process integration in the key areas such as billing, menu management, CRM, inventory Management, procurement & activity planning, analytics, KPIs and Managerial dashboards etc. Many such software solutions can be used to integrate multi-site and hotel chain restaurants, catering businesses, and ghost kitchen networks. The delivery orders can be streamlined to a single dashboard on a PC or Tablet or even phone by these softwares. Onsite team for fulfillment can monitor error free dispatch for delivery. A better served customer becomes a brand ambassador via its online reviews and ratings. For better operations of ghost kitchens, menu can be simplified for easy packaging and handling. Specialization and effectiveness of the business model develops with experience obtained from serving every single order. The local trending cuisine can be identified easily from simple database analysis. Non-core activity centers e.g., Cleaning, maintenance, and security are usually outsourced. Multi-concept Model? Being a digitally connecting model, ghost kitchens can target different segments differently.

This may increase its visibility on food ordering apps. Ghost kitchen can help flourish creativity of its staff.

Cost-Benefit? Unlike physical restaurants, ghost kitchens require small capital to start, but provide high growth opportunity. The operational costs can be minimized to a great low. Physical restaurant formats consume approximately 30-35% of revenue on manpower. In ghost kitchen, this can be reduced significantly. The risk-return tradeoff is beneficial. Cross-subsidization scope can be created by dealing in multiple brands and new cuisines. It’s easy for a ghost kitchen to forwardly integrate and start physical restaurant. However, it's difficult other way round in the perspective of possible brand dilution. The payback period can be shortened.

Online on Rise? Unlike physical restaurant where location and store front appearance is key, ghost kitchens rely on online consumer buying behavior on internet platforms, such as company's website or app, or on any other social media/ affiliate site. Thus, web traffic supersedes actual foot falls in its importance. Thus, web mining and data analytics, customer service recovery management, and loyalty management (or CRM) are a must to do processes. A behavioral shift is happening in India and beyond where shopping experiences are not anymore constrained by usual touch and feel factor, and is getting virtual even for big ticket items.

Formats? Ghost kitchens can be operated in various different formats based on their shape, size, SOPs, and specialization. Commissary kitchens- can operate on leased infrastructure temporarily on need based/ pay per use arrangements, without having to own them. This can help in supplying to a fleet of food trucks especially when demand is at peak. Commercial kitchens- are kind of larger 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

commercial kitchen infrastructure that can be hired on lease entirely or a part thereof by restaurants or catering companies for large scale/ bulk order fulfillment. Incubator kitchens- or pop-up kitchens, are small dedicated but attached part of a restaurant especially designed for serving online orders.

These can be operated as a kiosk or a food truck. It helps in efficient handling of online orders without disturbing the core focus on traditional format, as it can offer drive-throughs pickups by customers.

Kitchen pods- are smaller formats that may usually come in container form to cook anywhere and serve small orders. This format may not be as effective as other formats.

Way forward? Ghost kitchens can be operated by restaurant owners, food truck operators, business format franchisee operators, or it can be a part of a chain. Being present in a central business district area is desirable with respect to brand visibility, although is not a business mandate. This is because of the flexibility that a ghost kitchen can be an outsourced partner of a restaurant.

References: 1. https://www.youtube.com/watch?v=_Dt4biV7pto 2. https://www.youtube.com/watch?v=loH-X_uNWJo 3. https://yourstory.com/2021/08/funding-alert-cloud-kitchen-startup-bigspoon-pre-series-a/amp 4. https://www.techcircle.in/2020/07/14/cloud-kitchen-platform-yumlane-gets-1-mn-from-jettyventures 5. https://www.cloudkitchens.com/blog/ultimate-guide-to-ghost-kitchens-in-2021 6. https://one2menu.com/post/how-to-optimize-your-ghost-kitchen-for-search-engines 7. https://www.thefoodcorridor.com/2019/12/05/everything-you-need-to-know-aboutcloudkitchens-aka-ghost-kitchens-in-2020/ 8. https://upserve.com/restaurant-insider/online-ordering-statistics/ 9. https://www.qsrmagazine.com/consumer-trends/restaurants-2021-takeout-and-delivery-nowessential-customers About the Author: Dr. Surjit Kumar Kar is an Associate Professor in the Department of Marketing & Strategy at IBS Hyderabad. He is an avid researcher, an invited peer reviewer of journals, a marketing management and entrepreneurship consultant, a corporate trainer, and above all a humanitarian. He has successfully guided a scholar to earn PhD Degree. He mentors Admire – The Official Advertising & Branding Club of IBS Hyderabad. He does research in areas like Customer Knowledge Management, Qualitative & Quantitative Marketing, Marketing Analytics, and Product Innovation & Design Thinking. In his free time, he likes to sing and record, read novels, travel to places of national importance, and play sports like table tennis and cricket.

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CORPORATE ANGLE

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Mr. Subhabrata Paul CIO, Co-Founder at CarePlix (CareNow Healthcare) Operations Management Challenges in Startups In recent years, the Indian start-up ecosystem has really begun and are available into specialize in its own—driven by factors like massive funding, emerging technology, and a growing market. Over the last year, India has added almost three unicorns each month, and also the pace of growth within the startup ecosystem has increased by over 15% year-on-year. These statistics are very interesting and inspiring for people to begin a brand-new venture but we've got seen around 9 out of 10 startups fail before they will even start generating revenue. There are multiple reasons behind these failures but one in every of the key reasons is poor operations management.

Let’s read a number of the important operational aspects which are challenging for startups, Hiring & People Hiring is one in every of the foremost challenging job for a startup. it's the maximum amount difficult to rent the right candidate as retaining the nice fit. A startup is also born from a concept, but it’s the those who build and grow it. So, it’s super important that a correct team is there to require things forward. But what happens afterward ? It’s the People Operations that comes into picture. For an early stage startups, it's vital that people management is taken seriously to retain their resources and maintain a good workplace. The founders may create the prototype of a car but it’s the team who finally builds it and keeps the machines running.

Legal & Compliances Many startups don’t realise the importance of legal and compliances to run the organisation, which cannot be visible initially but in later phases they face consequences which aren't good for the organisation. Every sector includes a set of defined rules and legal regulations but many of the founders start building their ideas with none prior knowledge of those regulations and legal compliances. This a serious concern, and even established companies face such problems. as an example, recently Facebook announced the shutting down of their famous face recognition system deleting more than 1 billion user records after the Federal Trade Commission fined a record $5 billion for violating a state law.

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Technology & Data Security Technology is rapidly changing and hence selecting the proper tech stack is incredibly important for startups. An evolvement of a replacement technology can obsolete many dependant products. as an example, in recent days we became quite accustomed to bluetooth earphones and now even the phone companies are producing phones with none audio jack. So now imagine a startup who just came up with an earphone with jack, they're now left with just one option, that's to adopt the latest technology and rebuild their product. While the technology plays a critical role, data security is that the other which must taken very seriously. due to a loose business structure, many startups are liable to data breaches and malware attacks. Moreover, since startups have limited capital to figure with, they can not afford a brilliant powerful infrastructure to forestall data breaches.

Financials Measuring every detail about the financials is extremely important to manage finances and balance cash flows. to stay the show on, following your financial model is very crucial. Every part like revenue run rate, average revenue per user, customer acquisition rate, churn rate, and operational expenditures should be achieved as per the target. Achieving the target revenue will help the startup grow within the subsequent rounds of investments further as in increasing the corporate valuation. Looking deep into the financial modal, there are several financial operations that are important for a startup like managing the books, payrolls, invoices, employee claims and credit returns from GST, VAT, etc.

About Author: Subhabrata Paul is the Co-Founder, CIO at CareNow Healthcare Pvt Ltd and Co-Founder, CEO at Naaksh Web Solutions having 9+ years of experience working with MNCs and startups. He is mostly associated with UI/UX and product designing, he has successfully designed multiple products for various leading organisations as well as for his own startups. Currently he is in healthcare domain, building innovative technologies around device less vitals monitoring bringing a digital revolution in healthcare and wellness space.

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Mr. Shivam Agrawal Operations & Business Solutions Analyst, NoPaperForms Omnichannel Strategy: Customers don’t worry about anything other than choice and convenience

Omnichannel is an approach to user engagement and promotion in which a business provides access to its products, offerings, and support services to its customers or potential customers across all channels, platforms, and devices.

Rather than offering support only on their desktop website, for example, a business offers support through Facebook Messenger, live chat, email, and phone. Taking an omnichannel approach to marketing, sales, and service strategies offers many benefits.

Advantages 1. Greater reach With omnichannel retail, marketing, or service strategy in place, you’ll be reaching your customers wherever they are. They now not ought to search and search to seek out you. Regardless of where they are, your team or your product are solely a click, an email, a right away message, or a telephone call away.

2. Augmented profits If and once your prospects are able to buy, they’ll find it abundant easier to form an acquisition if they'll find your product on multiple platforms and channels. Providing multi-channel retail expertise additionally ensures it’s easier for them to get from you once more or renew their subscriptions, securing revenant revenue.

3. Boosted customer satisfaction Your customers are happier within the long run if they feel they need many strategies to achieve your customer service and sales teams or if they'll purchase your product simply notwithstanding their device or most popular platform. Customer satisfaction is that the key to reducing customer churn and keeping them returning to you for his or her needs.

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Omnichannel Retail Omni-channel retail refers back to the approach of setting your services and products up on the market on all channels and systems for the motive of growing reach, lowering friction, and boosting sales. An omnichannel retail experience will consist of brick-and-mortar stores, app-primarily based options, and online systems.

For instance, a clothing brand may promote its merchandise on its website, app, Instagram’s “Shopping” tab, and Amazon, in addition to brick-and-mortar stores.

Omnichannel retail especially applies to retail-primarily based business-to-consumer (B2C) industries which include clothing, consumer goods, meals, beverage, and others. Business-tobusiness (B2B) corporations can simulate an omnichannel retail surrounding via way of means of permitting possibilities to request demos, ask for quotes, or agenda consultations throughout numerous channels and systems.

For instance, you may create an application that permits possibilities to excursion your product on their phone, you may upload a “Request Consultation” button for your Facebook profile, and you may use Facebook Messenger to offer quick quotes.

Whether in a B2B or B2C surroundings, omnichannel retail is maximum effective whilst paired with an omnichannel advertising strategy.

Companies use an omnichannel advertising technique to align their messaging, goals, objectives, and layout throughout every channel and device. Omnichannel advertising may be a treasured asset for organizations that might be seeking to supply a higher customer experience.

Omnichannel Marketing Omnichannel Marketing is a marketing strategy that uses multiple channels to reach customers.

Omni-channel marketing refers to the practice of promoting a company's products and services across all channels, devices, and platforms by using unified messaging, cohesive visuals, and consistent collateral. With omnichannel marketing, you can reach customers wherever they are with a relevant and on-brand offer.

Omnichannel marketing allows marketing teams to deliver a more effective brand message by combining the strengths of each communication channel. They can also reach out to targeted buyers at the right time, increasing the likelihood of converting them into leads.

To Build an Omnichannel Marketing Campaign An omnichannel marketing strategy uses the same messaging, visuals, and positioning statements across all channels, platforms, and devices. It provides customers with a consistent brand experience by ensuring that your brand is presented consistently across platforms.

Remember that omnichannel marketing campaigns have a positive impact on your sales and service 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

departments as well. Why? Customers will know to expect a similar experience for their shopping and customer service experiences if you are present on all of the channels and platforms they use.

1. Start with the basics: Your internet site and social media channels.

Creating an omnichannel experience is a gradual process. You don’t want to be anywhere all at once; you’ll get there in time. Start together along with your internet site and social media channels and nail the ones down earlier than shifting directly to different platforms. Ensure that you’re posting continually and attractive with customers who attain out to you through the one's channels.

If you continually have interaction with customers on Instagram however don’t solution on Facebook, they’ll notice. Focusing on one and neglecting the alternative will make your brand appearance inconsistent and unprofessional.

2. Create an app if needed.

Depending on your enterprise and product, you could now no longer want to take this step. But in case you promote patron merchandise or provide a SaaS tool — or ought to advantage from imparting an app otherwise — bear in mind developing an app.

If you’re a small corporation, you could lease a contract with a Freelance developer to create an app.

Just make sure to have a valid motive for imparting an app and to assume through each functionality.

3. Seek to resolve for the consumer each step of the manner.

When you upload a brand-new channel on your omnichannel strategy, do it for the motive of fixing for the consumer at each step of the manner.

It’s now no longer only for your corporation to get greater visibility or with the intention to make greater sales — even though the ones are truly tangible advantages of setting up an omnichannel strategy. But it’s additionally approximately ensuring your consumer has an easy, issue-unfastened experience. The intention of fixing your clients’ needs to tell your messaging in every channel and the manner you have to interact with customers on the one's channels.

4. Use identical messaging in the course of channels, however, be careful about using boilerplate content To create regular enjoyment, use identical messaging in the course of channels. For instance, if you’re strolling an ad on several social media platforms, you’ll want that ad to have identical messaging. You can extrude the wording a bit, so long as the overall messaging is identical. Be careful of overusing boilerplate content, however. You can also additionally run into replica troubles that would bring about being penalized via search engines like google and yahoo and other social media platforms. Don’t certainly reproduce and paste the entirety left and right. Instead of 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

persevering with using the same real phrases, create a regular brand voice that helps you to integrate it up without looking inconsistent.

5. Give customers a device- and platform-suitable CTA Every time you've got interaction with customers on wonderful channels — whether or not or now no longer it’s on an advertisement, a natural post, a personal message, a phone call, or an electronic mail — you need to prevent the engagement with a CTA. That CTA has to, of course, be device- and platform-suitable. For instance, a social advertisement has to bring about a mobile website, now no longer the computing device version of your site. You must close to your e-mail with a link to time desk a meeting, now no longer with a link that triggers an automatic app download (your customer won't be the use of a mobile device to check their electronic mail). Ensure that the CTA doesn’t throw off the purchaser and only extends the seamless experience you’ve already provided.

About Author: Shivam Agrawal has completed his MBA from IBS Hyderabad Batch 2021 and He is currently working in NoPaperForms in Business Solutions and Operations. He has past experience in Service Management in Cognizant for an International Client. He has around 2 years of work experience in Service and Operations Management in ITES.

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Mr. Samanway Sen Software Engineer at CGI The Gaming Industry: Does it make gamers renowned today?

How do you spend your leisure time? What charges you up from your routine stress? Well, I can say each one of us has a unique style of spending me-time. I love gaming and it is a gift to myself that I enjoy unboxing after a long day at work. I am sure many do that. Entertainment has a broader picture for each individual. But, does gaming earn the same love and eminence globally? Or is it just you and I who think that it is the obvious term which everyone perceives equally? Is the gaming industry being underappreciated? The answers to these questions vary hugely. Let us study and play the game.

A tour to Video Game culture The video game industry is the leading and most lucrative entertainment industry in the market with 2.81 billion gamers around the world giving rise to global revenue generated standing at $159.3Bn. Gaming has been growing across all devices and platforms around the world in jetting revenues. The industry has had a significant influence on internet culture increasing the popularity of mobile games (besides console and PC). This sector does not necessarily accommodate the games or players that frequently dedicate time and effort to playing video games, but also those players that participate less frequently and often through more casual games.

Did you ever imagine that the gaming industry would blossom as is today? Do you remember the very first video game that you played? No matter how old you were then, but I bet you never thought the pass time activity back then would create huge figures in the economy today. The industry was messing around with Pong joysticks in their basements in the 1970s and ‘80s. Little did we know that the Gen X foundation would turn out to be the bedrock of today’s gaming industry and instant cultural phenomena.

How big and wealthy is the gaming industry?

From the Arcade boom to the boom in the home consoles and PC games, the gaming industry rapidly grew to rival and surpass film and television. As per the latest findings from the gaming market analyst firm Newzoo, the gamers globally are sorted into 3 types of players. Mobile gamers constitute 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

2.6 billion counts, PC gaming players constitute 1.3 billion counts, and console gaming players add up to 729 million of the counts. The revenue generated by these segregations is as follows: $77.2Bn, $36.9Bn, and $45.2Bn respectively. But do these figures help raise the economy equally around the globe? No, not all countries get help from their gaming community.

Frequent gamers, occasional gamers, and gaming on a smartphone are the categories of the online survey conducted by Statista Global Consumer Survey on a game-popularity basis. Vietnam was the country with the highest number of adult gamers where 94% of Vietnamese adults games at least occasionally, falling under the mobile gaming category. Besides Vietnam, the other developing countries like Nigeria, the Philippines, Thailand, Indonesia, Colombia, and Peru reported the highest numbers of adults saying they played video games. Saudi Arabia saw the highest number of frequent gamers constituting 25% of adults. Japan, a country traditionally associated with video games, had one of the lowest engagement rates for gaming among adults. In the U.S., the highest number of adults reported gaming on consoles instead of on computers and smartphones.

The countries that topped the chart on the basis of their revenue approximations are based on a combination of primary consumer research, transactional data, quarterly company reports, and census data. The revenues are based on consumer expenses in each country. China, the US, Japan, South Korea, Germany, the UK, France, Canada, Italy, and Spain are the 10 on the chart. These countries are in the sequence of decreasing order of their population, internet population, and revenues (USD) generated. Highest standing at $44,263M with China and Spain going with $2,460M. Gaming Technology Technological advancements made it easy and possible to game from pretty much anywhere to everywhere. Our phones, which are mainly becoming the popular form of entertainment on the planet. The composition of gaming equipment and technology gives rise to the following genres.

Console Gaming: Console gaming is the authentic and probably most well-known form of digital gaming. Back then, Nintendo and Sega ruled the market for consoles. And today, Xbox and PlayStation have become the most popularly accepted consoles that offer millions of players the dexterity to experience the best in gaming technology. In the early days, consoles were simple joysticks just enough to run simple games like Pong. Now, consoles like the new Xbox Series X have specially designed microchips that accommodate image processing technique and power efficiency as optimum as possible.

PC Gaming: PCs gave a meteoric rise in gameplay with more than 1.2 billion people using computers as their gaming tool of choice. My gaming choice suits the same, though. Gaming PCs are all about quality and efficiency. Gaming computers have their own dedicated RAM space, GPUs, and cooling systems that help to efficiently run games in real-time. These amassed computers can handle graphically demanding games and can even make it easier for streamers who need a reliable system to manage gaming at a high level and live-streaming their gameplay at the same time.

VR/AR Gaming: Virtual reality (VR) and Augmented reality (AR) are meant to put you right in the 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

middle of the action to make them feel like you are actually part of the game. VR offers gamers the ability to step into magical worlds and do everything in computer-generated environments, while augmented reality adds digital influences to real life. The best example of AR in gaming is “Pokemon Go.” Using a smartphone, Pokemon seekers are able to find and capture virtual Pokemon throughout their everyday lives in the real world.

Mobile Gaming: Mobile gaming sums up to an estimate of 45% of the total market share of the gaming industry with almost one-third of the global population having played a gaming app. What is making mobile gaming so popular? It is easily accessible and has games for every type of gamer.

Gaming as portrayed by India: Gaming is loved by many Indians and precisely the millennials. India’s online gaming industry is a gift to start-ups and their ecosystems. Video gaming is now opening a whole new opportunity for the sector in India. Our country being the second most populated country also holds the record of having the maximum number of youths, which means we are contributing a huge amount of time towards the world Gaming revenue. Presently, there are about 400+ established Indian Gaming companies that are flourishing in our country by continuously developing and distributing quality games to their users. But to keep up the pace, the gaming market is looking for a growing number of skilled assets.

And this is the point where the industry is facing limitations.

There are a lot of talented young minds who are passionate about video games, but only a quarter of them think they can really make a career out of it. There hides a significant number of reasons behind this sceptical approach towards the Gaming industry. Gaming is still a luxury in India; meaning, it is just not affordable with what you buy a console or a PC. PC games are cheaper but the hardware that comes along is expensive, while the consoles are relatively cheaper but the games are expensive.

Next comes the misconception about this industry. People still assume gaming to be an unproductive way to spend your time. Lack of awareness leads the industry to still be underrated among many segments of our country. But besides all the darks, the treasure to dig is that this enterprise is the biggest employment sector of the future. The nascent essence in this sector is now a global hub ready to absorb investments.

About Author: Samanway Sen is a Software Engineer currently working in CGI. He previously worked with Tech Mahindra for the leading pharmaceuticals giant GSK. He has around 4 years of work experience in Information Technology. His functional domain is Business Intelligence and Data Warehouse. He also received accolades from his organization for continuous and commendable work delivery.

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EMERGING MANAGERS

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Mr. Kanishk Premi Global Business Management, Seneca College of Applied Arts and Technology, Toronto, Ontario 2021-2023 Impact of GST on Supply Chain

GST has a far-reaching impact on the business of any organization. It not only alters the way taxation of goods and services takes place, the concept of intra state and inter-state supplies, to the method of taxation, system of allowance of ITC, quantum of ITC and to its accounting and filing of returns. Thus, every area of business will require a relook under the GST environment.

Supply chain includes sourcing and its logistics. Sourcing includes procuring /manufacturing; goods and services. Both could be out of imports, inter-state, local / domestic purchases, stock transfer / inter branch etc.

Tax burden The cost of tax is inbuilt in pricing of any goods or services. Typically, in the product cost includes; taxes like the CST, Central Excise Duty, Cess, Service Tax, etc. paid on inputs. Similarly, in case of services; the taxes paid on inputs required to provide services, other input services are also embedded in cost of service. Of course, to the extent of the allowance of input tax credit and / or cenvat credit under the respective legislation reduce the incidence or the burden of taxation on input. Thus, to the extent of the taxes which are not eligible either as input tax credit / Cenvat or abatement(s) results into cascading of tax.

Base price and the change therein Under the GST, the main objective is to do away with cascading of tax by providing seemless transfer of input tax credit to all levels of distribution of goods and services. Therefore, the base price on which the taxation would apply would undergo change necessitating the reworking of pricing with both supply / vendors as also customer / client.

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A simple example will make this regard will be helpful.

Pre-GST

Post-GST

Base Price

87.5

Excise

12.5

Base Price

87.5

GST @ 28%

24.5

100 VAT @ 13.5%

13.5 113.5

112

It can be seen that the base price on which the excise duty was levied would become the base price on which the levy of GST would arise. This is because the entire element of the duty/tax is now eligible for input tax credit leaving no burden of tax on onward distribution. Base price has to change because, excise duty, cess, service tax etc. levied / charged by his vendors is now available as ITC. The change in the pricing with the vendor would also require that the price charged by the supplier to this customer / client would also rework. For example; where a builder and developer has awarded a contract to a contractor for providing and fixing aluminium glass windows during the pre-GST period, the builder would demand for reworking of the contract price considering the GST now to be levied. In this case, the contractor will have to calculate the incidence of tax which was factored into by him as cost (which was not available then as ITC and/or CENVAT credit) in the pre-GST period and compare it with the ITC now available in GST on such inputs of goods and services. This will give idea of reduction and/or increase in the tax due to introduction of GST. Obviously, before working out the incidence of tax in the transaction, the contractor will have to also demand the reduction in incidence of tax which the vendor would have factored in his pricing for supplies made to him/the contractor. Thus, the GST would require both the customer and supplier and its vendor to re-examine the indirect tax structure and base value on which such taxes to be levied.

Obviously, this involves internal computation and workings; both, by vendor and supplier and also by vendors of the vendor and so on. True, this chain reaction would require some time to settle out and, in the transition, there could be some cases where some partners in the supply chain may get benefited or impacted adversely. Surely, as GST settles down, the economics of demand supply and resultant impact on pricing will force the constituents of supply chain to rework out pricing / cost and offer their goods and services.

With the implementation of GST, manufacturers have shifted towards tailored supply chain models as per customer requirements. The removal of stock transfer benefits has helped in increasing the share of direct dispatches for medium and large-sized dealers. A supply chain management online certification can be an effective runway towards successful customization of supply chain management.

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Superior Inventory Management After the elimination of multiple state-level taxes, the stock points optimised and reduced the channel inventories. Now there are few transits stays and this helps in advancing lead times and also reduces inventory levels at stocking points. With more potential for consolidation, warehouse management has also become more efficient. To better understand the impact on superior inventory management, a supply chain management online course can be immensely helpful.

A Decrease in Incoming Logistics Costs The impact of GST can also be seen on direct out of the state procurements and logistics costs. This has helped the manufacturers to expand their vendor based outside state boundaries and alter the sourcing models profitability.

Cash Flow Management for Export Businesses Due to GST, the tax exclusion benefits have continued with minimum effect on the bottom line of the economy and a streamlined tax system in place has promoted more exports.

Modified After-sales Distribution Models GST implementation has significantly affected the spares market due to an increased need for storage and retail penetration. With modified after-sales distribution models, progressive businesses have developed their distribution footprint while also offering high-quality service at lower costs.

Overall, the logistics and supply chain management industry have been touted as one of the primary beneficiaries of GST implementation. To begin with, there are more compliance and adjustment costs because the frequency of filing returns has increased for businesses. Further, to claim the input tax credit, compliance is expected from every single party across the value chain.

This has hurt the profitability of the industry in the short-run, but in the long-run, operational efficiency is bound to enhance. To further enhance your supply chain management skills, a supply chain management online certification aims to equip participants with the required depth and balance of technical and managerial competencies to succeed in this domain.

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Mr. Rishabh Khandelwal MBA, 2020-2022 IBS Hyderabad Cryptocurrency a way forward Is the bitcoin tsunami a destructive tsunami that will obliterate the financial system, or is it a rich opportunity that should be pushed to profitable shores? Even after accounting for major variations, the current value of $35,876, the first cryptocurrency, bitcoin, trades at $0.08 when it was founded in 2009, which is enough to make jaws drop and eyes roll.

What is it about cryptocurrencies that makes it so valuable despite the fact that it has no intrinsic value? Cryptocurrencies like Ethereum and Bitcoin trade at levels previously unimaginable for an intangible piece of software. While this may appear perplexing at first, closer examination reveals that print money has no fundamental worth. After the gold standard was abandoned as a basis for valuing fiat money in the 1930s, a country's central bank became the sole determinant of its value. As a result, the RBI sets the value of the rupee, and it can simply devalue it against the dollar or issue additional money.

The value of the rupee, however, remains consistent due to many influences on demand and the centralised form of its regulation, as is true of most fiat money from stable countries. On the other hand, it raises the question of whether a currency whose value may swing from $58,000 to $30,000 based on a tweet from Elon Musk can be considered stable.

Demand and supply, media forecasts, and finite coin mining determine the value of bitcoin. It has no central authority that authorises and keeps a record of the database or determines its worth because it is built on blockchain technology and a decentralised distributed ledger system. Despite the banking system being one of the oldest organisations backed by the central government, the lack of an intermediary has not slowed the growth of cryptocurrencies, which have developed on a peer-to-peer network, are freely marketable by individuals, and provide the owner direct control. Its convertibility into fiat currency is also at the request of persons who are perfectly willing to take it as tender in exchange for a debt discharge.

Because of the worries of the state-regulated banking sector, there is a lot of doubt about the role of cryptocurrencies in the official economy going forward. Recently, the Chinese government, among others, has threatened to tighten down on crypto-exchanges in the face of mounting financial system 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

leakages. In contrast, El Salvador became the first government to fully integrate Bitcoin into its financial system and accept it as legal cash. Several governments fall somewhere in the middle, acknowledging cryptocurrencies in a limited capacity but limiting its use. India is at a fork in the road and must choose which course to take.

As with most big technology advances, India viewed cryptocurrencies with mistrust but did little about it between 2008 until 2018, when the Reserve Bank of India issued a circular prohibiting bank from allowing customers to deal in bitcoin. That action was taken in the absence of legislation prohibiting cryptocurrency trade, effectively making cryptocurrency illegal but imposing a surrogate prohibition on its official commerce. As a result, cryptocurrency exchanges have relocated outside of India, and people interested in trading bitcoin have done so from outside the nation.

The Supreme Court overturned the RBI's circular in Internet and Mobile Association of India v RBI, allowing crypto-currency to be traded and converted into fiat currency through the conventional banking system, which had never been considered unlawful in India. However, as with most things, the Supreme Court's judgement did not bring an end to the situation. The recent experience with bitcoin cross-border trading in violation of foreign exchange standards serves as yet another critical reminder that regulation, rather than prohibition, is the way to go. The Enforcement Directorate has issued a warning to the cryptocurrency exchange WazirX for allegedly violating foreign exchange legislation.

Rather than imposing a blanket or surrogate prohibition, recognising that Indian authorities are fully within their powers to prosecute the unauthorised and unlawful use of cryptocurrencies is the best approach to serve all stakeholders and is preferable in the long term, even from the aspect of tax collection. Allowing interested traders to enter the market via legal and regulated channels would alleviate many of the concerns around bitcoin transactions. The prohibition of bitcoin is likely to encourage further investment on the illegal market, resulting in even more leakages from the formal economy.

India can learn a lot about how to regulate cryptocurrencies from countries beyond its borders. While the European Union has warned about the hazards of cryptocurrencies, it has allowed their use by regulating them. Cryptocurrency trading is also legal in the United States, the United Kingdom, Canada, Brazil, and Russia, among other countries. People who trade in cryptocurrencies in the United States, for example, must adhere to centralised regulations and register with certified entities to implement anti-money laundering measures, keep relevant records, and report to FinCEN. It is possible to manage the entire market holistically to avoid sponsoring criminal acts like as terrorism by actively monitoring such reports.

Most of these problems can be alleviated by appropriately built safeguards. Simple controls, such as allowing only trade through exchanges and limiting deposits and withdrawals, can mitigate the risk of cryptocurrencies destabilising the economy. Volatility can be regulated in the same way that the stock market does by setting limitations on the number of sales and purchases as a percentage of the total ownership. While there have been discussions on cryptocurrency regulation in India, as well as various policy papers, they have not yet resulted in a formal rule.

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A law currently before Parliament proposes criminal penalties for cryptocurrency mining, holding, selling, trading, issuance, disposal, or use, while also introducing the Digital Rupee as the RBI-backed digital currency. However, a ministry press statement stated that even if a bill was introduced to allow the RBI to develop a Digital Rupee, cryptocurrencies would not be criminalised. The bill has yet to be introduced. Furthermore, high-ranking government officials, including the Finance Ministry, have made favorable statements to the media on the subject, casting a glimmer of hope, although not without the typical policy shocks.

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Mr. Manvendra Chauhan Vats MBA, 2020-2022 IBS Hyderabad

Implementation of E-logistics in Supply Chain Operations The explosion of e-commerce and the network economy has accelerated the development of new commercial applications and offered significant market potential. Various new e-commerce models have drastically altered the commercial environment and the methods in which businesses compete.

Because of the potential provided by internet commerce, many modern businesses have switched from brick-and-mortar to click-and-mortar operations. The fast growth of Internet and communication technology has hastened the use of e-commerce (EC) technologies by modern small and medium-sized firms (SMEs) all over the world. It is gaining traction across the world, and its effects are being seen in all sectors of the economy, particularly in manufacturing and service SMEs. Nonetheless, the bulk of Taiwanese SMEs are still behind the global information technology (IT) revolution and lack the crucial core competency to benefit from EC as a commercial channel.

From customer service to new product design, an e-logistics system may assist SMEs in all aspects of their operations. It enables new web-based business procedures for contacting and interacting with customers, such as online advertising and marketing, online ordering, and online customer care, among others. It may also save expenses in areas like order management and interfacing with a wide range of suppliers and trade partners, as well as other areas where considerable overheads are generally added to the cost of goods and services. It is vital to guarantee two-way communication between suppliers and customers on all areas while developing an e-logistics system. This study proposes a cyclic-process model for the development of e-logistics systems for SMEs to assist them establish EC capacity based on the aforementioned views. SMEs can effectively integrate the cash, business, material, and information flows throughout the upstream and downstream of their supply chains by implementing e-logistics systems with EC technologies in business processes among strategic business partners; this is necessary to transform them from an isolated island into an integrated cooperative-competitive value network. Through the adoption of e-logistics for businesses' EC capability in their own supply chain, SMEs can thus seamlessly communicate and cooperate with their alliance partners just like virtual organizations in the supply chains.

Most modern businesses must build strong EC skills in order to strengthen their dynamic innovation capabilities, meet their business objectives, and improve their competitiveness. However, implementing and measuring the effectiveness of such skills remains a challenge in reaching the aim of efficient customer service. Why should SMEs employ EC technology to build an e-logistics 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

system? To begin, consider the procedures of a supply chain in a small business. A small company supply chain is a complex network of enterprises and serial business operations for obtaining raw materials, converting them into intermediate and completed goods, and delivering the finished items to clients. It may link a multitude of suppliers, manufacturers, distributors, retailers, and customers in order to provide items and services from the point of origin to the point of consumption. In the supply chain, goods begin as raw materials, then transition to intermediate products, and lastly to completed goods. The finished goods are sent to distributors, who then distribute them to merchants and customers. Returns are flown from the purchasers to the sellers in the other direction. The supply side of the supply chain is for a manufacturing-oriented SME that has to buy some raw materials, components, and intermediate goods from suppliers so that the organisation may utilise these parts or raw materials to manufacture products or offer services. Materials, information, and money travel in both directions through the supply chain. Inaccurate or late information can lead to supply chain inefficiencies such as component shortages, unused manufacturing capacity, excessive inventory, or high transportation costs. The downstream portion of the supply chain, on the other hand, is a demand side for a company that needs to capture information about customer or retailer requirements and then use that information to plan production for scheduling, inventories, human resources, research and development, finance, and sales. As a result, challenges with outbound logistics and information management emerge downstream of a supply chain. Furthermore, enterprises must systematically handle inbound logistics and information management in the supply chain's early stages; as a result, e-commerce technologies or enterprise systems may play a crucial role in SMEs' supply chains.

Implementing e-logistics solutions to increase the efficacy of business operations is becoming a major problem for SMEs in order to properly enable e-commerce.

There are four cycle phases in the conceptual model. The first step is to identify the supply chain issues that SMEs face. Second, SMEs must setup their IT infrastructure in order to establish which business processes must be converted and which EC technologies and/or enterprise applications must be chosen and installed. Third, we propose three phases of development to clarify the scopes of supply chains that may be integrated; next, in the integrated stage of the e-logistics systems plan, various IT components were used. Finally, we provide relevant views for evaluating and analysing e-logistics system performance. This conceptual model might give useful suggestions to help SMEs establish their own core EC competency by recognising the benefits of adopting e-commerce to stay competitive in the marketplace. The structures of e-logistics systems may help SMEs in many sectors of business, from customer support to new product development. It enables new web-based business operations for contacting and interacting with consumers, such as online advertising and marketing, order taking, and customer support. It may also save expenses in areas like order management and interfacing with a wide range of suppliers and trade partners, as well as other areas where considerable overheads are generally added to the cost of products and services.

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Ms. Anamika Bhardwaj MBA, 2021-2023 IBS Hyderabad Use of Procurement Analytics Method in Companies Daily Operations

The practice of employing quantitative methodologies to obtain actionable insights and outcomes from data is known as procurement analytics. It entails gathering and analyzing data in order to enable factbased decision-making and obtain a competitive advantage. It usually reports on what has happened in the past and makes estimations based on historical data using predictive analytics to predict what will happen in the future.

Procurement analytics uses quantitative methodologies to obtain meaningful insights and outcomes from data to provide companies and firms with a better visualization of their procurement budget.

Predictive analytics software gathers data from multiple sources, both internal and external, and organizes it in procurement dashboards. They enable businesses and organizations to use procurement data to make informed decisions and obtain strategic, competitive benefits.

Need for Procurement Analytics Companies need actionable insights from their data now more than ever to boost performance across the board. Leading firms are only now beginning to tap into procurement's wealth of data to impact the business in ways it couldn't before. They're analyzing preferred supplier compliance, contract usage, and buying channel distribution to address savings leakage. For example, they’re also using new insights to create the most effective category plans; fair market pricing evaluation to maximize savings; analysis of consumption patterns to reduce overall spend; and preferred supplier compliance, contract usage, and buying channel distribution to address savings leakage.

These executives are empowered to make considerably better business decisions through intelligent augmentation and do so more quickly through intelligent automation by applying analytics to the millions of data points they already have. As a result, they're improving cost savings, lowering operational costs, and lowering risk—all of which are desirable outcomes for any business.

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The procurement analytics process: 1. Data consolidation and extraction To begin, you'll need access to all of your pertinent data, which should be stored in a single database.

As previously stated, this might include both internal and alternate, or external data. The data extraction process entails removing all faulty or obsolete data from a database, resulting in a consolidated database with clean data that is easy to understand and analyze.

2. Data cleansing, categorization, and enrichment The next step is to sort your information into distinct groups. Accurate data classification allows your company to manage data more efficiently across departments by combining all purchase data into a single taxonomy that highlights global spending trends. At this point, you can add alternate data to your sets. You should also define the scope of your research. Procurement analytics procedures come in a variety of shapes and sizes, as explained further below.

3. Reporting and analysis You may now analyze your data after it has been categorized. Among the many other benefits of procurement analysis discussed above, this should offer chances to reduce costs, increase the efficiency of your supply chain, and flag risks or issues.

Types of procurement analytics processes: a) Descriptive analytics The objective of descriptive analytics is to provide you with a detailed picture of what happened in the past. You may gain a better understanding of your previous procurement performance and use it to drive future decisions and uncover difficulties or inefficiencies. b) Diagnostic analytics Diagnostic analytics, like descriptive analytics, aims to explain why something happened in the past.

For example, if descriptive analytics uncovers a cost inefficiency in the past, diagnostic analytics can assist you to figure out why it occurred. You may then be able to rectify the problem to improve future performance. c) Predictive analytics Predictive analytics is a method of forecasting procurement performance based on existing data trends and patterns. As a result, predictive analytics may be able to assist you in evaluating various business scenarios. d) Prescriptive analytics Predictive models based on procurement data are used in prescriptive analytics. This type is used to help businesses make better decisions by using data-driven insights.

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Advantages of Procurement Analytics 1. Financial Metrics Procurement analytics can aid in working capital optimization. It also aids in the control of overspending by comparing the purchase order value or budget with the actual invoice. Procurement analytics can also be used to analyze "Incoterms" to find cost-cutting options.

2. Pricing Metrics Procurement analytics can assist companies to figure out if they're paying different costs for the same service or product in different geographies or divisions. It aids in the identification of price variations by division or geography. It also aids in the analysis of spend or price development to see whether there is an increase in expenditure for an SKU or category and whether this is resulting in a lower per-unit cost.

3. Compliance Metrics Procurement analytics aids firms in identifying any deviations from agreed-upon KPIs and processes.

These can't always be avoided, but they can certainly be managed because they always come with a greater price tag. Procurement analytics also detects spending from non-preferred and unapproved vendors. It also assists in the detection of fraud by examining indicators such as spending near approved limits and high spending without a point of sale.

4. Supplier Base Metrics Procurement analytics assists firms in better understanding the performance of their existing supplier base and identifying chances to further integrate by utilizing more global contracts and securing better prices. Furthermore, procurement analytics aids in the analysis of a territory or division that has amassed a large supplier network over time. It assists in utilizing existing suppliers' regional reach to get global competitive rates.

Implementation of procurement analytics Organizations have the ability to respond to changing situations with Oracle's newest collection of procurement analytics. Executives can easily identify productivity improvement possibilities across the procure-to-pay process using Oracle Fusion ERP Analytics while making decisions that cause the least amount of disturbance.

In finance and procurement, this prebuilt, cloud-native analytics solution eliminates the need for arduous data modification. With ready-to-use KPIs and interfaces with Oracle Cloud apps, users can quickly receive comprehensive visibility into procurement performance and company-wide costs.

The clear interface is simple to use for business users, and a semantic layer behind the scenes makes it simple to enhance procurement analysis using third-party data sources. Oracle's procurement analytics feature, like all Fusion Analytics Warehouse modules, combines diverse data sources for the user, speeding cross-functional analysis. These capabilities, when combined with Oracle Procurement Cloud services, give procurement departments the tools they need to revolutionize business processes through

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Ms. Ananya Tayde MBA, 2021-2023 IBS Hyderabad Role of IT in Supply Chain Management

Regardless of where they are in the supply chain, businesses suffer a variety of issues. Businesses can cope with a variety of supply chain management difficulties by utilizing information technology.

What is a supply chain?

From the procurement of raw materials through their use in product manufacturing to distribution and sale to consumers, a supply chain comprises the entire process of creating and selling commodities. It's a group of businesses that includes suppliers, manufacturers, shippers, distributors, and retailers who collaborate to make logistics, inventory management, and transportation as seamless as possible.

IT in supply chain management The importance of IT in supply chain management (SCM) cannot be overstated. IT gives the tools to gather important data, break it down for proper analysis, and execute it for optimal supply chain efficiency. Data is crucial to supply chain effectiveness because it serves as the foundation for decisionmaking by supply chain management.

Real-time or near-real-time data is essential for effective supply chain management. Decision-makers may plan, manage, and adapt operations to fulfil goals in procurement, inventory, manufacturing, and other areas with information about the various phases of the supply chain.

Why is technology important in supply chain management?

In the last few decades, business operations have been digitalized, and it has become a need rather than an option. What's to stop you? IT integrates numerous supply chain procedures carried out by diverse companies. It eliminates bottlenecks and improves the efficiency of corporate processes.

Particularly in manufacturing, companies are getting closer to attaining on-time procurement, shorter inventory, and increased efficiency. IT enables enterprises in the supply chain to meet consumer demands.

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The Role of IT in SCM: IT has left its imprint on the world. Nothing is left undisturbed. It's no surprise that it now has control over every facet of a company! The following points show the importance of information technology in supply chain management.

1. Integrated and Coordinated Supply Chain Only when a supply chain is properly linked and coordinated can it function effectively. This critical task is performed by IT, which brings in numerous technologies and combines them to optimize the supply chain. Data collecting is now possible, as well as much easier and more accurate, thanks to these technologies. As a result, precise and extensive data analysis is possible, resulting in good business decisions.

2. Increased Productivity All entities in the supply chain benefit from a smooth flow of information, innovative technologies, and excellent communication. It acts as a catalyst for product mobility. Instead of going back and forth, IT provides a continuous link that transmits the necessary data.

3. Cost Reduction IT allows for the most efficient use of resources and assets. To investigate patterns, old data is taken, and technology is employed to analyse it to improve performance. When resources are utilized to their full potential, costs are reduced.

In a supply chain, IT plays a larger role since it encourages all stakeholders to use their resources in the most cost-effective way possible. When information technology is applied properly, overall costs drop dramatically.

4. Product Improvement IT is made up of tools and programs that can be utilized to raise awareness early on. In a market where customers are continually looking for something new, the product will either have to change or become obsolete. You must incorporate product enhancement and innovation sooner rather than later if you want to stay in business. IT can be used to validate the type and amount of product improvement.

5. Supply Chain Visibility The information allows supply chain managers to see the complete supply chain. Managers leverage the flow of information from one collaborator to the next, as well as the impact it has on others, to make strategic decisions.

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The Functional Roles: There are three functional functions of IT in supply chain management, in addition to the core responsibilities stated above. These are the following: 1. Transaction Execution The number of transactions between supply chain actors is minimized when information flows efficiently between them. IT improves the efficiency of data exchanges that are repeated. For delivery verification, order processing, billing, and dispatch guidance, this information is generally sufficient.

2. Collaboration and Coordination The flow of information is given through IT. This facilitates better planning, coordination, and collaboration among all players. Forecasting demand allows for future planning, and order monitoring makes knowing the physical location of each order a reality. Neither of these activities would be possible without the use of technology.

3. Decision Support Good decisions do not appear anywhere. They are and should be, data-driven. IT is a significant help in decision-making. It can take even the most complex data and turn it into easy-to-understand graphs and reports. IT provides decision help to all managers in this situation.

Walmart's successful supply chain management When you visit your local Walmart, you are experiencing one of history's most significant logistical and operational achievements. This worldwide retail powerhouse, according to Supply Chain Digest, has over 11,700 outlets under 59 brand names, employing 2.3 million people in 28 countries, and processing an average inventory of $32 billion.

With figures like these, having a strong supply chain management strategy and system is essential. The company as a whole is dedicated to a business model that eliminates supply-chain costs, allowing customers to save money and live better lives.

Walmart has evolved into the world's largest and most powerful retailer in the previous two decades, with the highest sales per square foot, inventory turnover, and operating profit of any discount retailer.

Looking at Walmart's stock history information makes it simple to comprehend the company's growth and impact in the retail business. During its evolution from a small store to a global powerhouse, the company has become synonymous with the concept of good supply chain management.

Fewer links in the supply chain: Supply chain management of Walmart contributed to its success even in its early years. It's supply chain 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

innovation began with the omission of a few links at the start. Sam Walton operated many Ben Franklin franchise businesses before creating the first Walmart in Rogers, Arkansas in 1962. He carefully procured bulk goods and brought it directly to his stores.

Walmart started working directly with manufacturers in the 1980s to save costs and enhance supply chain management.

Under a Walmart supply chain model known as Vendor Managed Inventory, manufacturers became responsible for controlling their items at Walmart warehouses (VMI). As a result, Walmart expects to be able to fill nearly all of its product orders.

In 1989, Walmart was named Retailer of the Decade, with distribution costs estimated at just 1.7 percent of sales, far cheaper than competitors Kmart (3.5 percent) and Sears (3.7 percent) (5 percent).

The company's supply chain has only gotten more efficient since then.

Conclusion The key to good Supply Chain Management is information technology. Data plays a crucial role in connecting the entire supply chain, from start to finish. IT technologies serve as a vital communication link between all parties, allowing them to operate independently while still coordinating their efforts.

Information technology's importance in supply chain management cannot be emphasized. It's the thread that binds everyone and everything together. It is crucial!

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Mr. Nitesh Kumar Gautam MBA, 2021-2023 IBS Hyderabad Importance of Service Design in Operations Management

Service design aims to design services and make them more responsive to the needs of service users and clients. It examines all the activities, infrastructures, communications, people, and hardware components involved in the service to improve both the quality of the service and the interactions between the provider and its customers. Service design is used both to create new services and to improve the performance of existing services.

In 1982 the term "service design" was coined by Lynn Shostack. They believed that service design was the responsibility of marketing and operations management. It has been proposed that a company develop a “service blueprint” that details the processes within a company and how each process interacts with other processes. Although this service plan was initially used only for service design - it has now become a tool to also manage operational efficiency. The matrix is useful in that it reveals many variables and constraints of a particular service system. It can be used to identify the particular focus on an operation, or it can help assess the needs of workers within the system.

As Matt Beale, from the Carnegie School of Design says; “Design is about making things good (and then better) and right (and fantastic) for the people who use and encounter them.”

Service Design provides a systematic and creative approach to: •

Meeting service organizations’ need to be competitive

•

Meeting customers’ rising expectations of choice and quality making use of the technologies’ revolution, that multiplies the possibilities for creating, delivering, and consuming services

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Answering the pressing environmental, social, and economic challenges to sustainability

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Fostering innovative social models and behaviors

•

Sharing knowledge & learning

Service design is the activity of planning and organizing a business's resources (people, props, and processes) to 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

1. Directly improve the employee's experience, and 2. Indirectly, the customer's experience. The Concepts like customer experience, customer understanding, customer orientation, uniform service quality, service promise, and value proposition are basic concepts of service design, without forgetting the business resources.

Nature of Services: •

Tangible service: The service you can see and take or measure. like a haircut, taxi service.

•

Intangible service: The service you can't measure. Or see u only can feel it...like in a restaurant, the politeness of a server or smile to the guest by this the guest can feel satisfied but this can't be seen and measured

The benefits of service design: •

Products and services are designed for users and the buying customer group

•

Closer cooperation between departments

•

Producing a positive customer experience

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Carrying out things wisely by offering customers value

•

Strengthen customer focus

Service System Design Matrix: The service system design matrix defines the relationship between sales opportunity and production efficiency as measured by the amount of human interactivity. This is the matrix indicating the degree of client/server contact from the lowest contact (email contact) to the highest contact (full face-to-face personalization). It is a very useful tool for understanding the different elements of a service system.

The matrix establishes the relationship between three key service factors and how these factors relate to production and service delivery.

It classifies six main types of service delivery systems, from simple mail contact to full face-to-face personalization. The matrix is useful in that it reveals many variables and constraints of a particular service system. It can be used to identify the particular focus on an operation, or it can help assess the needs of workers within the system.

There are many very successful services designs innovations. Some of them have changed entire industries: McDonald's satisfies the urge to eat quickly and easily In the 1940s, Dick and Mac McDonald saw what bothered visitors to the then-popular drive-in bar.

USA: it was mostly overflowing menus and long waiting times. They developed a concept that avoided 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

both of these weaknesses: the offering focused on the bestsellers Hamburger and Apples. At the same time, they have optimized their restaurant's processes and premises so that only 30 seconds elapse between ordering and delivery of the food. A customer journey map specifies all interactions. The film "The Founder" shows this process very impressively. The brothers sketch their restaurant with chalk on a tennis court and imitate the individual work steps in order to further improve them. The biggest fast-food chain still has this urge to continually optimize the customer experience. In 2003, for example, the company began equipping restaurants with self-service terminals. This innovation not only increased customer convenience but also enabled the company to take more orders.

Service Blueprint A service blueprint is, in essence, an extension of a customer journey map. A customer journey map specifies all of the interactions that a customer will have with an organization during the customer lifecycle - service design goes a step further and looks at all of the physical and digital interactions that support interactions with the customer. customers and adds a little more detail to the mix.

The blueprint is usually represented in a diagram based on swimming lanes (each lane is assigned to a specific category) with related interactions between the lanes (using arrows to represent the workflow).

Blueprints may be any beneficial shape of a diagram that elicits the services' scope. Storyboards are regularly the favoured device however there's no requirement for this and architects must select the device which fits them and the challenge best.

Service Design Methodology Morelli proposed in 2006 that service design methodologies must function in three directions: • The actors at the service need to be diagnosed and described with admiration for the service. This may be executed through the usage of analytical equipment.

• The service eventualities must be described. Then consumer instances must be evolved and sequenced to mirror the interactions with the actors.

•

The service must then represent the usage of diagrams and written factors as required to reveal all of the bodily components, actors, interactions, and sequences. The device for assessment can incorporate social studies, ethnographic research, anthropology, and so on those regions provide a splendid wide variety of equipment and care must be taken to pick the proper device for the service layout challenge.

•

Design equipment is used to create the blueprint of the service and the person and trends of the interactions that fall inside it. This equipment includes (however isn't restricted to) the improvement of service scenarios and uses instances. This equipment are much like the ones hired in software program layout and UX designers must have little hassle adapting to them. It is really well worth noting that during service layout that equipment that equipment tends to be broader in scope and accommodate management strategies (consisting of Kaizen, Just-In-Time - JIT, Total Quality Management - TQM, etc.).

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Care must be taken while deciding on management strategies as in lots of service structures consumer interactions are too loosely described to be compelled into the slim direction of quality management.

Conclusion: The design of the service aims to make the services more responsive to the needs of the users and customers of the service. Examine all the activities, infrastructure, communications, people, and hardware components involved in the service. Service design is used both to create new services and to improve the performance of existing services to enhance the customer experience.

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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.

SHRISTI SHARMA JOINT SECRETARY - KORE Club Kaizen – IBS Hyderabad Batch 2020-22

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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.

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