Abhishek is an experienced System Engineer with a demonstrated history of working in the information technology and services industry. His interest lies in learning about the operations involved in manufacturing as well as service industry and how IT could be utilised to streamline their processes. He is passionate about project management and have a rich experience of its application in service industry.
From conducting payment and audits to tracking inventory and assets, blockchain technology will enable greater supply chain efficiency than ever before. Those swanky clothes, that colorful smartest phone, that distracting T.V., ever wondered how they were delivered to your home or to the nearest brick and mortal store? The answer is supply chain. A supply chain is the network of all the individuals, organisations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user. The supply chain segment involved with getting the finished product from the manufacturer to the consumer is known as the distribution channel. Managing today’s supply chains is extraordinarily complex. With globalization, supply chain have spread to various areas, serving people like never before.
The procurement department is responsible for making strategic decisions about purchasing. Total public purchase is around $9.5 trillion, which equals 13% of the total global GDP. Thus, CPOs around the world have a huge opportunity to gain a competitive edge by decreasing their purchasing costs. Organizations employ different methodology to decrease cost, one of them is Spend Analysis.
Computers and IT have revolutionized the human race. We have never been this smart, connected to everything and had solutions to every single complex problem. The Moore law states that the number of transistors in a dense integrated circuit doubles every two years, and this has decreased in size to as small as 37.5mm x 37.5mm for a 2.7 GHz processor. Supply chains can be easily optimized using tremendous computing power of computers, which are capable of solving complex algorithms for routing, forecasting, network designing and inventory optimization. The more computing power, the faster the algorithms can be solved. Thus, increased computing power has indirect impact on cost, quality and time of any supply chain.
Virtual reality (VR) and augmented reality( AR) have drastically evolved throughout time. Virtual reality (VR) is an artificial, computer-generated simulation or recreation of a real life environment or situation. It immerses the user by making them feel like they are experiencing the simulated reality first, primarily by stimulating their vision and hearing. Augmented reality (AR) is a technology that layers computer-generated enhancements atop an existing reality in order to make it more meaningful through the ability to interact with it. AR is developed into apps and used on mobile devices to blend digital components into the real world in such a way that they enhance one another, but can also be told apart easily.