LAKSHYA- A BEACON OF KNOWLEDGE, OCTOBER EDITION, 2022

Lakshya is an initiative by Club Kaizen which is our monthly supplement designed for people who dare to think above the average and believe in connecting the dots. In an age where technology has taken over every sphere, information is abundant and data is omnipresent, we have conspired to bring to you a collection of thoughtfullycreated and carefully curated pieces of work bysome 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.

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 include

Certified Supply Chain Analyst (CSCA).

Certified Demand Driven Planner (CDDP).

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.

EDITOR’S LETTER

“If you have knowledge, let others light their candles in it."

Welcome to the 54th edition of “LAKSHYA”, our monthly supplement designed for people whotake 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 reputedorganizations andinstitutions all acrosstheworld.Thearticlespublished through Lakshyaaims 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 improvetheirwritingskills,itwouldalsocreatean environmentforthemto enrichtheirthoughtprocess 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:

Dipashri

From the

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

CORPORATE ANGLE

Kotak Mahindra Bank Relationship Manager

Product Lifecycle Management in the Digital Age

The lifespan of IT products

Each IT product has a lifecycle, from cradle to grave. An integrated process of product lifecycle management (PLM) is required to ensure that business solutions are created that contribute to company success. Instead of assessing quality at the end and wasting time, money, and effort trying to rectify errors, PLM must be frontloaded with quality measurements if it is to be successful. The organization needs a new, integrated method of inter-person collaboration using pertinent, adequate, and integrated tools to achieve to minimize effort and work toward implementing the business solution in a way that inspires confidence in the achievement of the business value, both in the short and long term.

This is true for conventional digital systems as well as systems that employ robots, artificial intelligence, or any other cutting edge technology. Managing the tasks during this lifetime is frequently very difficult. In the case of digital manufacturing equipment, the product lifespan is relatively lengthy.

Cradle

The process of developing a new digital system frequently entails a wide range of tasks that can be carried out sequentially or concurrently. There should be quality control tasks like testing included in this list. Early quality measures, such as assessing requirements, designs, models, and/or user stories, are crucial for accelerating development.

Use

Systems in the manufacturing sector could have a protracted maintenance phase during which modifications need to be watched carefully. To capture all pertinent information about the development process, numerous alternative methods are employed in product lifecycle management. All dataconnections and exchanges arefrequentlydifficult processes thatinevitablyrequire theusage of technology. The adoption of AI powered solutions holds great promise for enhancing this process

Mr. Anurag Shrivastava

monitoring as well as the effectiveness of the activities involved in quality control and the product lifecycle as a whole.

AI powered dashboards allow for continuous system monitoring throughout its lifecycle and can indicate when an activity's impact exceeds previously defined thresholds or tolerances.

Grave

Every digital system will eventually be retired. Although turning off (parts of) a digital system might appear like a simple task, retiring a system is a difficult procedure. There are operational and informational components to digital systems. also known as the OT and IT. The IT component is affected when an OT portion (hardware) is changed (software). For instance, the IT component keeps using new OT technologies.

Making sure there is a new system, translating the pertinent content to it, and preserving the system's history are all part of retiring hardware. The word "migration" is frequently used in this context.

In initiatives involving migration, AI is useful. When old data is stored in raw form, AI can be useful for revealing it. Another name for this is digital archaeology.

Digital Archaeology and Testing:

Information technology is evolving at an accelerating rate, and thus accelerates the rate at which goods, systems, and technologies are being retired. The technology used in storage is one aspect. Companies must be able to maintain their systems of record accessible for a specific amount of time due to legal requirements. The actual amount of time varies dependingon the nation and the business, but a decade is rather typical. In the 1970s, when all administrative tasks were performed manually, maintaining an archive was simple. Just keep the ledgers in a secure location, then recover them upon request and deliver them to the appropriate entity, such as the tax office. Today, maintaining an administrative system functional for ten years is a really difficult undertaking. Just ten years ago, the CD ROM took the place of the Diskette (or floppy disc), and today it's difficult to find a computer with a CD ROM drive. The software is still another factor. Companies frequently change their ERP software or database systems. They may still have the data once such a system quits, but they lack the software to understand it.

Interpret the data

Often, reading data from an antiquated storage medium requires the use of ancient technologies. Recently, we learned about anintriguing exampleinwhich awebsitefrom thelate1990s was restored utilizing the tape drive of a computer museum.

The rescue is provided by artificial intelligence once the data is accessible. The relationships and links in the data are identified using machine learning, particularly supervised machine learning that incorporates business expertise.

In this manner, it is possible to recreate a retired system.

We want to make sure the conversion of its data is accurate before the retired system is fully rebuilt. The initial phase of testing for these kinds of circumstances is called digital archaeology. The conversion and verification of small sums. Domain expertise is incredibly helpful in this situation.

With older systems, the absence of domain knowledge is not an uncommon circumstance. In this situation, machine learning algorithms search for connections in RAW data and compare it to pre existing datasets. We are now using machine learning to give us information about possible conversion outcomes. To determine if the conversion makes sense or not, human verification is still required. If everything is okay, the following stage can begin, and extensive conversion occurs. Following this step, tests are run to ensure that the conversion process proceeded smoothly.

Product Lifecycle Management

The lifecycle of a product consists mostly of four interconnected operations.

the four segmented comprehensive approach to developing and putting into practice business solutions.

This all inclusive approach aids in our improvement. The two areas of improvement are as follows: Throughout the whole product lifecycle, control and enhance product quality. Enhance the effectiveness and efficiency of the lifecycle process's activities.

To prevent waste of any form, a key Lean product management idea is put into practice. The appropriate strategy for product lifecycle management can be selected by concentrating on product risks and business risks. Just enough time and money are invested at each stage of the lifecycle to attain the desired level of quality.

This quality management strategy makes it possible to shift left and enable early quality. Shifting left means bringing quality operations to an earlier stage of the product life cycle. This is accomplished bythe application of numerous measures, methods, and approaches in product lifecycle management. Examples of techniques and strategies include testing, examining, and test driven development. The integration of all technologies needed to manage and monitor the product throughout its lifecycle is an illustration of a crucial measure

About Author:

Anurag Shrivastava has completed his MBA in Marketing in 2022 from ICFAI Business School, Hyderabad. He is currently working as a Business Loans Relationship Manager in Kotak Mahindra Bank.

Mr. Kushal Saraogi

Merkle Sokrati

Associate Manager

Innovation in Manufacturing

Protecting innovative techniques and methods in manufacturing

Your inventions in manufacturing are a great benefit. They might improve the efficiency of your company or differentiate it from the competition. As a result, it is crucial for the success of your company that you:

Encourage innovation within your company

Preserve any new techniques or concepts that you develop proprietary.

Intellectual property (IP) rights are the fundamental weapons for defending unique and inventive concepts and methods. Patents, copyright, designs, and trade secrets are a few of these rights.

1. Patents in manufacturing

The patent is the primary form of protection for a produced good or component of a good. You can use patents to safeguard the technical and functional characteristics of unique items you create.

Additionally, original, inventive manufacturing procedures are patentable. While making an innovation, you should think about patenting it. Patenting gives you the legal authority to bar your innovation's unauthorized production, use, importation, and sale. If routinely renewed, an awarded patent may be in use for up to 20 yrs. A patent also enables you to provide licenses for the use of your innovation, which can bring in royalties and serve as a significant source of income for your company.

2. Copyright in manufacturing

Copyright, which can be used to protect literary and artistic works that you or your employees produce, computer software, and other works, is another approach to safeguard your intellectual property in manufacturing. These creations can include composing music, artwork, computer programs, and instruction manuals. Any sound recordings, broadcasts, or movies that your business produces can be protected by copyright.

You have the right to control how your original works are copied, modified, published, performed, or broadcast as well as licensed or sold to third parties for use in exchange for a fee or royalty.

3. Design in Manufacturing

The two basic methods for safeguarding designs are unregistered design rights and design registration.

Every time your original design is documented in a document, you automatically have the right to do so. Depending on when the product was initially sold or manufactured, it lasts either ten or fifteen years and guards the shape or configuration of your product against direct imitation. The appearance of a product, including its lines, contours, colours, shape, texture, materials, and ornamentation, is protected by registered designs. The rights are more robustly protected against infringement, start to exist upon registration, and continue for up to 25 years.

4. Trade secrets in manufacturing

Trade secrets are important corporate assets. They can be used in conjunction with or in place of other intellectual property rights, such as patents, designs, trade names, and copyright, to give businesses a competitive edge in the market.

Trade secrets have an endless lifespan as long as you don't reveal them.

Trade secrets include knowledge

The formula for Coca Cola, search engine algorithms, client databases, and sales techniques are a few examples of trade secrets.

The use of trade secrets

Trade secrets can be used to safeguard knowledge you don't want to share or an invention that doesn't fit the requirements for patentability. For instance, it would be impossible for someone else to determine the components and composition of a food product, medicinal product, or perfume only by looking at the product itself. A trade secret may offer the appropriate level of protection in certain situations.

Keep in mind, however, that trade secrets do not provide exclusivity or prevent someone else from independently discovering the same (or similar) product or technique.

Infringement of trade secrets

Keeping an idea private can be the greatest way to safeguard it. However, it could be challenging for you to maintain a trade secret's secrecy within your company. Make sure that everyone engaged signs a non disclosure agreement if it's required to divulge information (or portions of it) to partners or other members of your business (NDA).

You can file a lawsuit against them for breach of confidence if, after signing the NDA, they disclose the information to anyone without your consent.

All of the following conditions must be met to prove a breach of confidence:

The information must possess a quality of confidence.

There must have been a stated or inferred obligation of confidence.

The information must have been used without authorization.

About Author:

Kushal Saraogi is currently working as an Associate Manager at Merkle Sokrati. He completed his MBA for ICFAI Business School in 2022.

EMERGING MANAGERS

Inventory management is a critical component of any organisation. In fact, it is regarded as the skeleton of supply chain management. Inventory, also known as stock, is the goods produced by a business organisation at any given time for the purpose of selling or manufacturing. Thus, inventory management is simply the management of these goods. The managers must ensure that the goods are priced reasonably and that there is always enough stock available. If the organisation holds too much stock at any given time, it will be unprofitable because the cost of holding will be too high, reducing profitability. The value of money foregone in order to purchase the stock will be too high, the space occupied bythe stock will be large, and the management of that stock will be expensive. On the other hand, holding too little stock at any given time will result in insufficient stock, as it may result in stock outs, which may result in lost sales.

One of the goals of inventory management is to ensure that the retailer has the necessary information to manage and maintain proper merchandise when placing orders, shipping goods, handling them in thewarehouse, andmanagingothercosts.Theretailermustfirstdeterminetheinventoryrequirements and then set organisational goals. He should then be able to provide the proper replenishment techniques and provide a report on the inventorystatus at the end of a fiscal period. The report should contrast actual and predicted inventory levels. Furthermore, the manager should be able to track inventory movement to ensure no losses occur. Using the various reports, the manager should be able to reconcile the inventory balances at regular intervals.

Case Study: Apple’s Inventory Management

Apple Inc.has oneofthemost advancedinventorymanagementsystems in theretail industry.Apple's success is based not only on the innovative products it sells, but also on its ability to manage inventory. Although inventory for technology products such as iPhones depreciates quickly, the company has avoided the problem of poor inventory management. Apple employs an Inventory Turnover formula, which indicates the number of times inventory can be disposed of, either through sale or replacement, in a given time period. In 2011, Apple was the best technology company in inventorymanagement thanks to this formula. In fact, Apple sold everyiPad it produced in 2011. The secret to success is also hidden in reducing inventory to only what is needed. There are no surplus warehouses at thecompany.Applealso has alimitednumberofcomponentsuppliers in orderto avoid

Mr. Amar Agarwal MBA, 2022 2024 Indian Institute of Management, Sirmaur Inventory Management is the backbone of Supply Chain Management

overstocking and the costs associated with stock holding. These suppliers then compete with one anotherto supplyApple with thecomponents. Suchmeasures enabledAppleto receivenewinventory every five days, down from nearly six months in the late 1990s. Even when a competitor announces a new product that has the potential to devalue the available inventory, the company is never caught with excess products in stock. Apple can also synchronise data from multiple warehouses to improve supplier relationships. Furthermore, it accurately predicts and forecasts demand and sales, allowing it to avoid holding excess stock.

Conclusion

Supply chain management is an extremely important aspect of business operations. It is critical in assisting an organisation in gaining a competitive advantage and maximising customer satisfaction. Because of the increased level of competition, the role of supply chain management in business has become more important in today's business world. As a result, there is a greater need for businesses to ensure customer satisfaction. Inventory management is critical to achieving customer satisfaction because it is the backbone of supply chain management. Inventory management, through EOQ and JIT, assists in reducing supply chain management costs as well as forecasting inventory levels. Furthermore, inventory management is an effective tool for risk management in an organisation through the maintenance of safety stock. Inventory management allows supply chain management to achieve its most basic goals. As a result, it can be argued that inventory management is at the heart of supply chain management and that organisations must embrace it in order for supply chain management to be successful. In other words, without inventory management, organisations cannot easilysucceed in a supplychain. Infact, it serves as thefoundationfor all othersupplychain activities such as transportation, manufacturing, and distribution.

What is the WMS, or warehouse management system?

Itis apieceofsoftwarethataidsinmanagingandcontrollingdailywarehouse operations.Theoptimal picking and shipment of orders are guided by warehouse management solutions, which also offer guidance on inventory replenishment. The enterprise resource planning (ERP) system, which is a whole new level of the system with numerous solutions integrated with it, or a single application with a single solution, can both include this smart warehouse management solution.

Using a man held/portable device interface, users of WMS can manage various warehouse management duties through a centralized system. This ensures little to no losses while also making warehouse operations effective and simple. A clever warehouse management system improves customer service significantly and opens the path for every product with features for production or re order. These elements are part of the company's objectives, but for the client, they just mean that they can receive the product without any delays or mistakes.

What are the functions of a smart warehouse management system?

The transfer and storage of materials in a warehouse are managed and tracked by the system. There are other procedures involved, such as shipping, receiving, or storing the materials that are integrated with other supply chain systems. Transparency is guaranteed throughout your business and administration through the system. Today, the system's functionalityhas greatlyincreased, and it now controls a varietyof tasks with sophisticated coordination with material handlingequipment and yard management.

While numerous timing mistakes are observed during shipment, the system aids the business in managing or eliminating them. An expedient solution enables businesses to fulfill orders more quickly and instantly track ordered products inside the warehouse.

Ms. Meghali Duklan MBA, 2021-2023

IBS Hyderabad Warehouse Management System

Key Benefits

To manage various warehouse processes, smart warehousing mainly relies on artificial intelligence (AI), the Internet of Things (IoT), and robotics. Now that we are clear on what a smart warehouse is, let's examine some advantages in more detail:

Improve Accuracy

Maintaining inventory accuracy is one of smart warehousing's most important advantages. A centralized system allows you to manage various warehouse activities and keep track of inventory flow in real time. You can receive correct information and offer solutions across your supply chain and logistics network thanks to this accessibility.

IoTsensorscan beused to detect faults in warehouseoperations, whicharesubject to manyprocesses. To save costly repairs, they monitor the health of the machines and provide a warning if anything is affected.

Increase Transparency

In supply chain businesses, a lack of transparency is typical and frequently causes operational losses. Businesses can watch and manage inventory as it flows through the warehouse by incorporating warehouse visibility.

The better it gets at resolving difficult queries, the more businesses are aware of the activity. To prevent supply chain problems, it is essential to provide warehouse transparency. It helps you maintain the right inventory levels and reduces the chance of shortages.

To solve these issues, businesses can employ smart warehouse solutions that incorporate RFID and telematics software. While gathering information about vehicles, they can also keep track of vehicle movements by scanning tags.

Improve Efficiency

One significant benefit of a smart warehouse system is task automation. It shortens the time that workers typicallyneed to finish a task. Additionally, these solutions reduce manual work so that more jobs that benefit people are the main focus.

Errors are decreased, and potential dangers that can result in accidents are removed. Automation quickens warehouse operations and guarantees that orders are filled without delay within a specified time range.

Reduce Costs

Implementing smart warehousing lowers labor and fulfillment expenses. When a substantial part of the warehouse management system combines with automation, the need for human labor is subsequently reduced, which ultimately optimizes time. This decrease further lowers operating expenses.

By picking, packing, and shipping correct orders, technologies including automated guided vehicles (AGVs), inventory scanning systems, and automated order processing increase order accuracy.

Strengthen Customer Service

A bad client experience is one of the major problems that most organizations encounter. The only thing keeping your firm afloat is excellent customer service. Fast shipping, lower costs, and fewer order returns can give you an advantage over your rivals thanks to smart warehousing. By meeting client expectations, these solutions boost brand loyalty and promote customer happiness.

What kinds of smart warehouse management are there, and where does it fit in?

Although there are many different kinds of smart warehouse management systems, each has advantages and disadvantages, some of the most well known and extensively used ones are listed below:

Standalone System

Supply Chain Modules

Enterprise Resource Planning (ERP) Modules

Cloud based

There are various WMS kinds, from straightforward, uncomplicated systems to more intricate ones that are ideal for huge warehouses. You need to search for many elements that may affect when choosing a WMS system that is better suited for large warehouses. You will receive raw materials into your warehouse management system from a fully integrated solution. It will make it easier to track the products when they are in the warehouse or on the move. For truck routing, final products that have been selected and sent are tracked in the shipping system or Transportation Management System.

What qualities should a smart warehouse management system (WMS) have?

Chooseastraightforward system becausetheyaremost suitedforlargewarehouses. Therearevarious elements to take into account when choosing your system, including the following:

Advanced Features Warehouse Dimensions Customer Needs Cost

If you are currently using a Smart Warehouse Management System version that makes you unhappy, schedule aconsultation to determinethesolution thatwill best serve your needs forthe next five years and beyond. Choosebetweenthe Basic, Intermediate,andAdvancedsoftwarelevels; eachhas its own set of features.

Toyota Motor Corporation's vehicle production system, often known as a "lean manufacturing system" or a "Just in Time (JIT) system," has become well known and studied throughout the world. This production control system was built based on many years of continual improvement, with the goal of producing the vehicles ordered by customers in the quickest and most efficient manner possible, in order to deliver the vehicles as soon as feasible. The Toyota Production System (TPS) was founded on two concepts: "jidoka" (loosely translated as "automation with a human touch"), in which when a problem occurs, the equipment immediately stops, preventing defective products from being produced; and the "Just in Time" concept, in which each process produces only what is needed at the time. Based on the fundamental ideas of jidoka and Just in Time, TPS can efficiently and swiftly create high quality automobiles one at a time, fully satisfying client needs.

Toyota's competitive strength and distinctive advantages stem from TPS and its cost cutting methodology. Toyota's future existence depends on thoroughly perfecting these qualities. The company utilizes these initiatives and improve their human resources to create ever better cars that customers will enjoy.

When an irregularity occurs, a machine must come to a safe halt, according to Jidoka. To achieve jidoka, systems must be built and improved by hand until they are reliable and safe. First, human engineers methodically hand build each new line component to high specifications, then gradually simplify its operations through incremental kaizen (continuous improvement).

The value added by the line's human operators eventually vanishes, implying that any operator can utilise the line to accomplish the same result. The jidoka system is onlythen integrated onto actual production lines. As this process is repeated, machinery becomes simpler and less expensive, while maintenance becomes less time consuming and less expensive, allowing the production of simple, slim, flexible lines that are adaptable to fluctuations in demand. Handwork is the foundation of engineering competence in this procedure. Machines and robots do not reason or evolve on their own. Rather, they evolve as we transfer human knowledge and talents to them. In other words, craftsmanship is attained through learning the fundamentals of

Mr. Sudhanshu Pareek

in Toyota

production through manual labour and then implementing them on the factory floor to continuously improve. The essence of Toyota's jidoka is this cycle of improvement in both people abilities and technologies. Jidoka advancement in this manner contributes to both manufacturing competitiveness and human resource development. Human wisdom and inventiveness are required to provide customers with ever better vehicles. Going forward, the shall remain consistent in their commitment to constantly developing human resources who can think independently and implement kaizen.

Improving productivity

Making only ” what is needed, when it is needed, and in the amount needed”- JIT Producing quality products efficiently through the complete elimination of waste, inconsistencies, and unreasonable requirements on the production line (known respectively in Japanese as muda, mura, muri).

In order to fulfill an order from a customer as quicklyas possible, the vehicle is efficiently built within the shortest possible period of time by adhering to the following:

When a car order is received, production instructions must be delivered as soon as feasible to the beginning of the vehicle production line.

The assembly line must be stocked with the requisite number of all necessary parts in order to assemble any type of ordered vehicle.

The assembly line must replace the used parts by retrieving the equal amount of pieces from the manufacturing process (the preceding process).

The preceding process must be stocked with a small number of all types of parts and manufacture only the number of parts that an operator retrieved from the following process.

Origin of the Toyota Production System A production system fine- tuned over generations. The Toyota Production System (TPS), which is built on the principle of eliminating all waste in order to find the most effective techniques, has its roots in Sakichi Toyoda's automatic loom. TPS evolved over many years of trial and error to enhance efficiency based on the Just in Time idea pioneered by Kiichiro Toyoda, Toyota Motor Corporation's founder (and second president).

Excess inventory, superfluous production steps, and poor products are all examples of waste. All of these "waste" aspects interact to produce more waste, eventually affecting the corporation's management.

Sakichi Toyoda's automatic loom not only mechanised previously manual labour, but also put the ability to make decisions into the machine itself. Sakichi was able to rapidly improve productivity and job efficiency by removing both defective items and the associated inefficient practices.

Kiichiro Toyoda, who inherited this attitude, set out to achieve his belief that "the optimal conditions for making things are formed when machines, facilities, and people collaborate to contribute value without producing waste." He devised procedures and techniques for reducing waste between operations, as well as between lines and processes. As a result, the Just in Time approach was born.

TPS has evolved into a world renowned production method through the concepts of "Daily Improvements" and "Good Thinking, Good Products." Even now, all Toyota manufacturing divisions are working around the clock to improve TPS to assure its continuing evolution.

Today, the Toyota spirit of monozukuri (creating things) is known as the "Toyota Way." It has been embraced not only by enterprises in Japan and the automobile industry, but also in production operations around the world, and it is still evolving.

Client input is fundamental for any business. Showcasing the most complimenting input, and you might have the option to make a customer go for a purchase. Urge more clients to leave a survey, and you'll further develop Google positioning. Analyse it, and you'll have the option to further develop the issues you didn't think your business had.

The following are six simple methods for integrating client criticism into your business technique:

1. Measure execution

On the off chance that you have previously begun estimating your business' exhibition, you understand what a distinction this makes. Knowing your LTV, ROI, and CPA is significant for understanding whether you're truly bringing in cash or should be concerned. These details are perfect for figuring out the fundamentals. To propel significantly more with examination, toss in CSAT and NPM in with the general mish mash. CSAT, the Customer Satisfaction Score shows how much are the clients cherishing your item. A straightforward study asks your client how blissful they are with the item on a scale from 1 to 10. You can do it on your site with applications like HubSpot frames or send a Google Form to pamphlet endorsers.

2. Make a client venture map

Client venture planning can likewise profit according to knowing the point of view of the clients. What the vast majority get off base while they're outlining the client venture is making an excursion they need to see, not the excursion that exists.

Anamika Bhardwaj

Hyderabad

Feedback and its integration with Marketing

At the point when you make a guide of how clients connect with your business, recording all collaborations, positive or negative is significant. Once in a while, a client needs to make an activity with your business, and they simply don't succeed. The guide ought to mirror tha

Checking the most boundless grievances or doing individual meetings with an emphasis on what issues did a client experience would get the job done. On the off chance that you're focusing on an unfamiliar crowd, you can use one of the chances of VPN to get much more profound into it.

3. Become proactive about open correspondence

PR is more than presenting a public statement to a news organization. In the exceptionally digitized world that we live in, all that you do online is public correspondence. Each time you get a negative remark on the web, even on a site you have hardly any insight into, it's an advertising issue.

There are two methods for taking care of this issue, neither of them includes attempting to get that survey erased. Both do include becoming proactive about open correspondence. The primary way is to motivate your clients to leave more audits. The chances are the negative survey won't look as amazing when there are such countless great ones going with it.

It's in every case great to build the quantity of surveys you get, yet there's another way. A way that is seemingly more valuable for your business.

Getting a negative survey on a stage where you can impart to the client presents an ideal PR opportunity. Answer the client. Apologize for causing them bother, vow to deal with that later on, or offer a gift as an indication of expression of remorse.

4. Utilize social evidence in promotions

Individuals trust surveys similarly as their companions. On the off chance that you have gotten a lot of good surveys, you can involve them in promoting. You've likely seen it done on numerous sites. Most web based business sites currently have a segment that contains tributes. In any event, that is viewed as great practice since having that segment can build your change rate by 34%. The issue is that a great many people are not utilizing the maximum capacity of client surveys. To make it work, you need to make the surveys more private. Add a photo of the commentator, notice their name, and make a point to add a connection to their profile via virtual entertainment or possibly an Instagram handle.

5. Help your position on Google

These are by all accounts not the only spots where client criticism can prove to be useful. Google has its very own survey arrangement so it's just normal that they use it as a positioning variable. It's not satisfactory whether Google surveys impact positioning on SERP, yet it is a positioning sign for neighbourhood search.

Each time you search a nearby question on Google, you see the guide with a rundown of organizations first.

How high your business will come up on this search relies upon many variables like the nearness to the client and the quantity of statements with the area address. Client audits are one more significant element on this rundown.

In the event that you urge your clients to leave positive surveys on your Google My Business page, this little step could help your SEO endeavors a considerable amount. Print out a little card with an encouragement to leave a survey and a QR code that prompts your GMB page. Place it close to the counter or at all tables in the event that you run a café.

6. Have client centred conceptualizes

The last tip may not be pretty much as common sense as the initial five, yet it tends to be significantly more advantageous over the long haul. You can fix efficiency issues and further develop transformations even without client criticism, despite the fact that it would be a lot harder. This piece, you can't manage without it.

Perusing client criticism, particularly bad remarks and ideas, can be eye opening. It's not ensured to deliver results like clockwork, however occasionally, you'll see a remark that will allow you to comprehend your client base further.

A client making sense of their sentiments about the buy will provide you with a thought of what feelings you ought to zero in on in promoting. A client telling about the issue they settled or neglected to tackle with your item will provide you with a thought of how to fix it or even make another item.

Automation Testing in Quality Assurance

Introduction

The software development life cycle (SDLC) component of quality assurance (QA) entails employing automated testing tools to conduct tests on the product under development and to compile and present the results.

Many of the time consuming tasks that manual testers traditionally performed are now handled by automation testing. When software is produced, tested, and deployed continuously rather than in stages, it is very helpful for continuous integration and continuous delivery.

Coding and testing were traditionally viewed as separate steps in the software development process, but automated QA makes testing more frequent, making it simpler to identify issues as you go.

Stages in the automated QA testing process

1. Establish the scope

Consider the goals of the testing process first, then do a feasibility study. Which tests can be automated, and which ones need human intervention? Additional considerations include finance, manpower, and expertise.

2. Select a tool for automation

You need a tool that meets your needs, but your decision will also be influenced by the web app's technology. There are many options for automation solutions, so weigh cost, usability,

Ms. Swetha J Nair MBA, 2021 2023

IBS Hyderabad

intuitiveness, and adaptability before making your decision. Make sure the QA team is given instructions on how to make the most of the tool selected.

3. Create a plan.

In addition to selecting an appropriate framework for the test cases to operate in, the QA team should develop a test plan that outlines the project's methodology and ultimate goal. Standards, testingequipment, and commonpractices shouldall beincluded in the framework.Data driven, keyword driven, linear scripting and modular testing are examples of popular test automation frameworks.

4. Create the atmosphere

It is important to set up the ideal testing environment and increase test coverage across various scenarios. The test team will plan and keep track of environment setup tasks like setting up hardware and software and creatingtest bed scripts. Consider using a companylike Global App Testing to assist with this process since it can be time consuming.

5. Compose a play.

QA engineers will now create test scripts based on actual requirements and industry best practices. Scripts must be structured, reusable, and simple enough for a third party to comprehend.

You can write your automated test scripts and test online apps across several browsers using open source tools like Java and Python, Selenium WebDriver, Appium, and Android Monitor.

6. Carry out the tests.

GUI (graphical user interface) testing and API testing are the two primary methods for automating QA testing. With software like TestComplete, GUI testing tries to replicate the user experience. Each iteration can test a distinct program feature or operate the same way every time.

The application programming interface is tested using APIs. With a focus on evaluating end to end transactions and individual components, it is used to evaluate internal and external third party APIs.

Advantages of QA Automation

Reduces the time and cost of testing

Repeated software testing is needed for continuous application releases to thoroughly test each feature and fix any flaws.

The entire process is slowed down by manual testing, which may delay the delivery of updates to your consumers. Automation testing is used as a result. This is a situation where QA automation is useful. With automated testing, the same test scripts may be run repeatedly on various hardware and software configurations. Similar to this, automated scripts can be used to save time by running "all day and night." Automation tests are quicker than human testers. Thus, it can cut down on testing expenses as well as time.

Increase in product quality

Businesses can broaden the scope of their testing process with QA automation. QA teams may now simultaneously execute thousands of automated test cases across numerous platforms and gadgets. However, "human" or manual testing is constrained and unable to "thoroughly" test things.

Applications' internal file structure, data tables, and memory contents can all be examined in depth through automation testing. The final software product's qualityand functionalitymaybe enhanced as a result. Similarly, every element of an application may be tested using automated regression testing. For manual testing, this can be very tough.

Better use of resources

Members of the QA team can use automated testing to increase their product testing expertise. Withouttheneedforhumanintervention,automationtestingenablestheexecutionoffunctional and regression test cases. Automation of QA tests lessens the need for a sizable QA crew to be present. Asa result,hiringandtrainingsoftwaretesters regularlymaytakeless timeandmoney.

With automated testing, skilled QA resources can be used to develop better test cases, raising the calibre of the final product. This indicates that theyare devotingless time to tedious, routine test procedures.

Suitable for CI/CD and DevOps

Manual testing is challenging to manage as software code complexity rises or as the number of test cases rises. Automated testing aids in resolving this issue. Development businesses find it

considerably simpler to transition to Continuous Improvement & Delivery (or CI/CD mode) with QA test automation. Continuous testing is made easier by automation, which is essential for DevOps.

Disadvantages of QA Automation

Cost

Automated testing may be more expensive to implement if your program is not finished. Additionally, writing good test cases involves the input of experts, which might raise your upfront expenditures. There is no way to skip that step without endangering the integrity of your entire construction. Because of this, your initial investment will be higher than that of slower, less thorough options.

User Experience Point of View Missing

You cannot obtain the user experience POV through automation testing. By combining manual testing with automation testing, you can combat this.

Loss of Control

Updating test cases as the test code expands essentially involves pausing and beginning the QA phase and relinquishing control.

Need for Sector Specific Knowledge

Security and regulatory compliance are two examples of unique needs that must be considered during the QA process in some sectors. This has been observed, particularly in the financial services sector. You must be aware of how an API will function on all relevant browsers, platforms, and systems in addition to following industrystandards for performance and security testing.

The financial services sector is more dependent on integrated API testing than others due to the requirement for fundamental stabilityand adaptabilityas well as the highest levels of consumer data protection. However, delaying your QA process till the last stage of manual testing, such as GUI, can hinder the development of a reliable core naturally.

Conclusion

Overall, automated testing is a great approach to speed up the testing process and provide a greater degree of accuracy while saving your business time and money. Additionally, it allows

you to increase test coverage and frees up the QA staff to conduct more sophisticated testing, which results in products of higher quality.

You will still need to choose the appropriate tools and design, build, and maintain the tests; automation won't do everything for you. Also, keep in mind that manual testing will always be required to some extent.

Despite common misconceptions, testing and quality assurance have a bigger influence on the success ofthefinishedproduct thanbugfindingalone.QAengineersbringvalueto thesoftware and guarantee its top-notch quality because they have a thorough understanding of both the client's business and the product itself. Additionally, by making use of their in depth product expertise, testers can give value to the consumer through extra services like hints, instructions, and product manuals. This lowers the cost of ownership and boosts corporate productivity.

Understanding Operations Management (OM)

Utilizing employees, supplies, equipment, and technology as resources is part of operations management. Depending on customer needs and the capabilities of the business, operations managers develop, produce, and distribute goods to customers.

Operations management deals with a variety of strategic challenges, such as choosing the size of industrial facilities, project management techniques, and information technology network architecture. The management of inventory levels, including work in process levels and the procurement of raw materials, quality control, materials handling, and maintenance regulations are further operational concerns.

Operations management involves analysinghow raw materials are used and makingsure there is little waste. To decide when and how big of an inventory order to process and how much inventoryto have on hand, operations managers use a variety of calculations, including the economic order quantity formula.

Operations and Supply Chain Management (OSCM)

Inventory management across the supply chain is a crucial component of operations management. The term "operations and supply chain management" refers to this process (OSCM). One must be able to comprehend the processes that are fundamental to what a company does and get them to flow and function harmoniously in order to be an effective operations management professional. In depth knowledge of logistics is necessary for the coordination required to set up company processes effectively.

Mr. Vishal Kumar MBA, 2021-2023

IBS Hyderabad Operations Management: Factors and Approaches

An expert in operations management is aware of regional and global trends, consumer demand, and the production resources that are at their disposal. In order to meet customer expectations, operations management takes a timely, cost effective approach to the procurement of commodities and the employment of manpower. Inventory levels are checked to make sure no surpluses are present. Finding suppliers who offer the right products at fair pricing and can deliver the product on time is the responsibility of operations management.

The distribution of goods to clients is a sizable aspect of operations management. This includes making sure that the products are delivered within the predetermined deadline. In order to make sure that the products fulfill their expectations for functionality and quality, operations management frequently follows up with customers. Operations management then provides the pertinent data to each department for use in process improvement based on the feedback it has received.

Because it may be used for effective and efficient work that ensures the potential of meeting the overall business objectives and achieving successful performance, operations management is essential for anyfirm. To demonstratethis point,it canbeusefulto thinkabout howthemost common goals can be accomplished:

Profitability

Maintain control over costs to prevent them from exceeding income. Operations management oversees logistics, inventories, production, and quality. By doing this, it makes sure that the number of customers who are eager to purchase the goods given rises and that their loyalty increases, which has an impact on profit. Costs are reasonable and production is effective. The management of inventory ensures that raw resources are suitable for finished goods. Last but not least, transportation is inexpensive and does not harm goods.

Customer service

Maintainingclientpleasureisimportantformaintainingrevenue.Operationsmanagementmakessure that communication with customers is maintained so that the business may get their input and modify its goods and services to meet shifting needs and desires.

Employee retention

Create a productive workplace that has a favourable impact on retention. Operations management makes sure that the employees share the company's values and that there are possibilities for continued education, performance enhancement, and career advancement.

Change management

Make sure the business is innovative and capable of overcoming obstacles. Operations management requires the identification of key changes and their necessity. Employee reactions to the changes are taken into account, and staff members are urged to put them into action

TQM and Six Sigma are two operations management methodologies that make it possible to deliver products of constant quality. They thus guarantee profitable business and devoted clientele. Without them, businesses risk having financial issues and losing ground to rivals as a result of unhappy customers. Operations management is therefore essential for the effectiveness of an organisation and its capacity to achieve its objectives.

External Environmental Factors

Fast fashion sector external environmental elements have an impact on operational management and related decision making. For illustration:

Reaching clients is impacted by competition. It forces business owners to create distinctive products and enhance brand recognition.

Some products may not be able to sell because of government regulations, thus business owners may need to look elsewhere or reduce the number of products they offer.

Natural forces could restrict available resources and drive policymakers to change their expenditure goals.

Managers must obtain knowledge on social and cultural influences in advance to guarantee that products match customer needs as they can influence the color and style of clothing worn by customers.

Age and sex are two demographic parameters that determine the target market and the products most likely to be purchased.

Due to technological advancements, business leaders must employ new tools to develop products. Additionally, they assume that employee training is necessary.

Approaches to Operations Management

The following methods can be used to practise operations management:

Six Sigma

It is a quality focused process improvement method. It necessitates locating and resolving problems in production and other business operations. Project selection, charter development, resource allocation, change execution, and evaluation are all things that leaders handle.

Lean production management

It is a set of guidelines that must be followed over the long term in order to transform organisational operations. Customer value, ongoing improvement, and people are the main priorities. Leaders act as coaches who direct teams and offer direction to accomplish objectives.

Queuing

This procedure has an impact on end user waiting times. Team productivity is ensured by leaders, which streamlines business processes. Customers don't have to wait for the things they need as a result because everything is handled promptly.

What Is an Example of Operations Management?

In the healthcare industry, operations management is common. The current healthcare system overuses pricey, technical, and treatment that is based on an emergency. Due to uninsured patients, high healthcare bills frequently get unpaid. Taxpayers, people with health insurance, and healthcare institutions themselves are burdened by the presence of services in pricey environments.

The Bottom Line

Simplyput, operations management (OM) is the process of implementingcorporate strategies created to achieve optimum efficiency in order to maximize profits. Operations managers use productivity and structure inside the process to accomplish their main objectives.

The key to a successful operations management (OM) process and, by extension, the success of the business is balancing the effective use of resources, including people, materials, equipment, and technology.

ABOUT US

The word “Kaizen”, where “Kai” = change, “Zen” = good, signifies change for the better. In its birthplace Japan, the word Kaizen is imbibed as a process that many small continuous changes in systems and policies bring effective results than few major changes. This methodology applies to every department across different sectors.

Kaizen TheOfficialOperationsClubofIBSHyderabadhasalwaysbeenaspiring“ConstantChange ad Evolvement”. We, as an organization work to inspire and aspire to the student community for the betterment of the future.

KORE Kaizen’s Operations and Research Entity, one of our primary wings provide the students with a platform to improve and hone their technical competencies to meet the changing demands of the organizations. KORE’s sphere of influence includes Case Based Research, Consultancy, Live Projects, and Workshops.LAKSHYA,aninitiativeofKOREfocuses on improvingthereader's knowledgeabout Operations Management by providing insights in the form of articles on various operation techniques followed by different companies and also updating the emerging trends in the communities.

ANAMIKA BHARDWAJ EDITOR IN CHIEF KORE Club Kaizen IBS Hyderabad Batch 2021-23

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