LAKSHYA- A BEACON OF KNOWLEDGE, DECEMBER 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.

1| 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

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.

2| 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

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

Welcome to the 44th 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

3| 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

CONTENTS

S. NO.

TITLE

PAGE NO.

1

From the Mentor’s Desk

5

2

COVID 19 and Employment of Women in Informal Sector of the Indian Economy

7

3

The Influence of Information Technology on The Manufacturing firms in India

11

4

Wisdom of Frugality

14

5

Cloud Computing Investment Increased in Supply Chain Management

18

6

Dominance of E-commerce on The Supply Chain Management

22

7

Inventory Management And Control

25

8

Digital Facility Layout Planning

28

9

How Can Industry Influence Women to Pursue Supply Chain Management?

32

10

Reverse Logistic

35

4| 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

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

5| 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

FACULTY’S INSIGHTS

6| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Dr. Laila Memdani Associate Professor, Department of Economics, IBS Hyderabad COVID 19 and Employment of Women in Informal Sector of the Indian Economy The first case of the COVID-19 disease was identified in December 2019 in the Wuhan district of China. The virus was found to be highly infectious and the number soon started multiplying. In India, the first case was reported in January 2020, in the state of Kerala. By March 2020 (when a lockdown was imposed), India had recorded 536 cases. The Government of India imposed 14 days’ lockdown on March 24, 2020, after a 14-hour curfew. All businesses came to a standstill.

Those working in the organized sector of the economy moved from offline to online business, but even in the formal sector, service sectors such as airlines, tourism, and hospitality were badly hit.

The informal sector of the Indian economy suffered the most.

Within the informal sector, women were the worst affected by the lockdown and the post lockdown opening up of the economy. In fact, those sectors which were affected during the lockdown slowly revived post lockdown, but the employment of women in the informal sector did not. Even in cases where it did, the rate of revival was very slow.

Formal And Informal Sectors Of The Economy The Indian economy can be studied in two distinct sectors, organized (formal) and unorganized (informal). The activities of the formal sector are taxed and monitored by the government and are included in the Gross Domestic Product (GDP). The formal sector represents all those jobs with specific working hours and regular wages, where the worker’s job is assured. Workers in the formal sector are organized and are employed by the government, state, or private sector enterprises. The formal sector includes large-scale operations such as banks and other corporations.

On the other hand, the informal or unorganized sector is the one in which the employees or the workers do not have regular working hours or wages. The formal sector is legalized and the workers have social protection and economic security and have certain incentives while those in the informal sector do not enjoy such privileges. Employees in the informal sector do not have any paid leave and no medical insurance either for themselves or their families. The informal sector mostly includes people below the poverty line. They do not have any social security net. They include rag pickers, moneylenders, brokers, maids at home (domestic workers), etc.

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

Table 1 gives the data on the employment status of men and women. We find that only 20.6% of females are own account workers and 42.3% are helpers in household enterprises. If the company belongs to her family, then she is an unpaid helper. Only 9.5% of the total number of working women have regular wage employment.

Table I Employment Status of Men vs. Women

Source: Periodic labor force survey available on http://mospi.nic.in/sites/default/files/publication_reports/Annual_Report_PLFS_2019_20.pdf

Impact Of Covid 19 On Women Employment In Informal Sector The Institute of Social Studies (ISST) conducted a survey in 2020 in Delhi to study the impact of COVID 19 on the income of women informal workers. The survey found that the income of almost all informal workers was severely impacted due to COVID (Refer to Figure I).

Figure I Impact of COVID on Different Categories of Informal Workers

Source: Chakraborty, S. (2020). COVID-19 and women informal sector workers in India. Economic & Political Weekly, 55(35), 17-21. From ISST survey sample size was 176 in Delhi

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

The same survey also found that job recovery for informal workers, particularly women, was delayed much more than for the formal workers. Figure II shows that overall, 11.3% of informal workers did not make any recovery during the unlock phase. While for men this figure was 7.6%, for women it was 49%. Only 15.8% women reported no effect due to COVID and the subsequent lockdowns. For men, the lagged job loss was 4.2% while for women it was 10.7% Figure II Employment Recovery Post Lockdown

Source: Chakraborty, S. (2020). COVID-19 and women informal sector workers in India. Economic & Political Weekly, 55(35), 17-21. From ISST survey sample size was 176 in Delhi

Conclusion Women not only suffered because of loss of jobs during the pandemic, they also suffered when they and their family members became infected with the virus during the first and second waves. Being in the informal sector, they did not have any medical insurance and treatment was expensive.

Government hospitals beds were not available and during the second wave, beds were hard to come by even in private hospitals.

References: https://ourworldindata.org/coronavirus/country/india About Author: Dr. Laila Memdani is an Associate Professor with IBS has demonstrated history of working in the higher education industry. Skilled in Analytical Skills, Economic Research, Banking, Financial Economics, and teaching. Strong education professional with Doctorate in Economics and MA with ECONOMETRICS as specialization from Hyderabad Central University.

9| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

CORPORATE ANGLE

10| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Mr. Omkar Ravan Sr. Project Engineer, Sparkline Equipments Pvt. Ltd., Pune The Influence of Information Technology on the Manufacturing firms in India Information technology is essential in all industries, whether they are manufacturing or serviceoriented. I’m working as a Project Engineer for Sparkline Equipments Pvt Ltd. in Pune for 5 years.

Datascan Clarity, an information technology solution, is used by the company as an Enterprise Resource Planning software. The system includes fully integrated customized ERP software that runs across multiple locations and multi-user networks. Various industries use enterprise resource planning to manage day-to-day business activities such as accounting, procurement, project management, risk management, compliance, and supply chain operations. It operates on the basis of a central database that receives data from various departments within a company. ERP is a software application that automates business processes and provides insights and internal controls by utilising a central database that collects inputs from the firm's departments.

Team leaders receive cross-departmental insight after information is aggregated in that central database, allowing them to assess numerous scenarios, uncover process improvements, and achieve significant efficiency gains. As a result, individuals will spend less time digging for data, resulting in cost savings and increased productivity. If industries do not use information technology, it becomes more labor-intensive, time-consuming, and costly to the company.

ERP software that is customised to meet the needs of a small business pays off big time, making these systems indispensable for businesses of all sizes and industries. For the past quarter-century, many of the world's most well-known and successful companies have relied on ERP. This software is now frequently designed and priced to meet the needs of enterprises of all sizes. Simply said, an ERP system facilitates a company's people, processes, and technology to work together.

It features integrated modules for accounting, inventory management, and customer relationship management. An ERP allows businesses to store, view, and analyse data in a single location. When it comes to planning and coordination, an ERP is also a valuable tool. Employees may examine live inventory and client orders, compare supplier purchase orders, and estimate future demand. They can make adjustments if necessary to avoid complications. Because workers may check on the state of other departments to inform their own decisions, ERP software enhances communication and 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

teamwork. It was created with Indian operating conditions in mind. It can gracefully handle common scenarios such as vendors sending material against several POs, one bill against multiple shipments, and a variety of other peculiarities.

ERP frameworks work on the basis of a well-defined, consistent plan. Data entered by one division is immediately available to approved clients throughout the company. This consistent design aids in keeping everyone on the same page. Let's imagine a neighbouring food delivery chain has multiple locations that frequently share stock and personnel. As the quality, deals, and representative data from various locations are included into the ERP system, they are organised to show where place they originate from. Across divisions, information is then weaved into business cycles and job processes.

Pioneers can see whether one region is doing better at avoiding deterioration than a sister site a few towns away and try to figure out why, while activities can confirm that putting up levels match traffic patterns. Money can be used to compare deals with rentals to help leaders decide whether or not to combine.

When a company uses business systems from a variety of vendors, integrations are frequently possible, allowing data to flow seamlessly into the ERP. This information might then be used to assist any cycle or work process throughout the ERP example.

This information technology aids the organization's inter-departmental communication. Once the customer's order has been confirmed by the salesman. The programme is updated with a copy of the purchase order as well as other information. A code for the project is generated. The Project Engineer then takes over the project and oversees it until it is commissioned at the customer's end, while also keeping track of payment. An order acceptance letter is issued to the customer, presenting the project engineer as a point of contact for any questions or updates.

The project engineer convenes a meeting and informs all departments of the project's information, as well as collecting deadlines from other departments. The product is designed by the design team, and the BOM is entered into the ERP system. A purchase order is generated whenever any raw materials are in short supply. The drawing will be released to the production department for manufacture after the customer approves the design, after manufacturing quality control, packing, and the logistic/dispatch team. The project engineer has access to the project's manufacturing budget as well as other costs. The system keeps track of the amount of working hours spent on a project. All information for the Production department, including available inventories and the need to buy fresh raw materials, are stored in the ERP system.

The ERP system records the employee's entry and exit times for the Human Resource department.

The amount receivable and due are indicated in the ERP system for the Accounts department. In one line to say, ERP is the information centre for all the activates in the firm.

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

About Author: Omkar Ravan is currently working as a Senior Project Engineer at Sparkline Equipments Pvt. Ltd., Pune. He has demonstrated a history of working in the industrial automation industry. Skilled in AutoCAD, Microsoft Excel, Microsoft Word, Microsoft PowerPoint, and Project Engineering. Strong engineering professional with a Bachelor of Engineering - BE focused in Mechanical Engineering from Gogte Institute of Technology, BELGAUM.

13| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Mr. Sibasish Patanaik Product Manager Bajaj Allianz Life Insurance Company Ltd., Pune Wisdom of Frugality

“I think frugality drives innovation, just like other constraints do", says Jeff Bezos. Quite rightly so.

The 'Wisdom of frugality' is the way ahead for overcoming the economic slump that the world is facing right now. Before advancing further let us first ask ourselves, what is the Wisdom of Frugality'?

For a layman it's spent less but spend effectively (perhaps a go-to mantra for every Indian middle class!) India has been setting new standards when it comes to the concept of frugality. Indian Space Research Organization's Mars Orbiter Mission is a fitting example as to how judiciously economy can be managed efficiently. The cost of the mission is a mere fraction of the money spent by the other three countries those who have achieved the same feat. Kudos to ISRO! The modern concept or the phenomenon deals with our response three basic questions: •

Are we overspending on lesser valued goods?

•

Do we spend judiciously on goods we need and not on surpluses?

•

Do we define quality by brands?

The case of ISRO We explore into a field where cost effectiveness becomes imperative; the space science field. This specific field has garnered lot of attention in the recent days. From Serge Brin's ProjectX to Elon Musk's SpaceX the demand for advancement in space science is for real. But the question is 'WHY?' Why is there a sudden shift in focus towards an area which has not much to amuse the economists and the corporate setup?

Well, the answer is pretty clear. Today's generation is driven by technology. Advancement in technology is a measure of a country's growth. India's ISRO ranks 6th among space power agency in a list headed by USA, Japan and Russia. The battle for supremacy in space technology is the battle 14| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

to gain economic strides. A county with better space research is expected to move up in the global innovation index and is hence bound to catch the eyes of investor hunting for technology hotspots.

In Asia while China National Space Administration (CNSA), the space research organization of China has made big claims to their future space expeditions, ISRO has been setting benchmarks for the world to follow by its effective cost-effective missions. CNSA had an annual estimated spending of $6.1 billion whereas ISRO's annual spending had stood at $1.2 billion in the year 2013 according to reports by OECD. ISRO has been widely appreciated for its cost-effective frugal innovations and is continuously reducing cost of Missile launches thanks to its ability to obtain component from US. China has been losing much of its market due to its bitter relation with the US and has to bear a hefty cost to incur components.

The frugal approach has so far seemed to be a stand out achievement of sorts for India but the recent failure of Chandrayan-2 could just send the think-tank into retrospection. One of the reasons cited for the failure of the mission was the use of cheaper processors and sensors thus a drawback when it comes to frugality.

So, when it comes to frugality, economies can blossom if the frugal practices are followed. However, reduction in cost shouldn't come at the price of effectiveness. The balance between cost and efficiency is the key to taking big strides in the technologically evolving world.

Education and Frugality The next big sector that comes to the mind is the education sector. The cost of education has multiplied manifold in the last few years. With unemployment rising and the job opportunities shrinking education seems to be the best way to earn a fortune. The demand for quality education has led to the surge in the cost of education. Right to education is preached, propagated and, schemes are implemented but no step has been taken to ensure quality education to all. At a time where education is almost free in most countries in Europe there's a need to have a frugal approach i.e. lower the cost of education, to lower the risk of brain drain of talent pool and to create a case for meritocracy in the system. So, how do we tackle this unwelcoming situation?

A food for thought for every youth in the nation The education industry has seen a sea change when it comes to digitization and digitalization. The cost of a degree courses and professional courses have sky rocketed in last few years. Having said this, there digitalization has made roads into the industry and has helped facilitate the commoners with convenience to study at their own pace and acquire skillets without spending much. The virtual classroom setup has been one such development which has revolutionized the industry. This development has made quality education accessible to knowledge seekers in the most remote parts of the country. Thanks to the cheap internet education costs have come down & platforms like Khan Academy and YouTube have provided free and quality education to the ones who needed it the most.

However, one facet of this industry that has over the years have created a fuss and has become some kind of a luxury is, Primary Schooling. The fees have skyrocketed in the past few years without much 15| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

change in the quality of education. Infrastructures have only been the only difference. Government schools have been looked with lower esteem and are still brimming with lower level of infrastructure.

According to reports, child's education is one of the major expenses for an Indian household.

There's a need to make schooling affordable without compromising on quality of schooling. Is it the education system that needs a revamp or is it the infrastructural add-ons that needs to be minimized?

I keep it open for the thinkers to tinker.

Being frugal can boost process innovation, increase operational efficiencies and bolster economies.

There’s a need for now and for the future, to go the frugal way with a heavy emphasis on productivity.

About Author: Sibasish Patanaik is currently working as a Product Manager in Bajaj Allianz Life Insurance Company Ltd., Pune. He has done by MBA from Indian Institute of Management, Sambalpur. He keeps a keen interest in trading and has a certificate in Financial Markets issued by National Stock Exchange. He follows advertisements and latest marketing gimmicks, and is certified in digital branding and advertising by Hubspot Academy.

16| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

EMERGING MANAGERS

17| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Mr. Raj Kumar Nath MBA,2021-2023 IIM Raipur Cloud Computing Investment Increased in Supply Chain Management

Cloud computing is one of the recent technologies that is helping the world in managing its vast source of information. The technology is growing rapidly and is creating impact on some of the major segments of the corporate world. One of the most important domains that is supply chain management which has been hit hard by the pandemic is on the rise. Supply chain management is looking for new horizons and is adopting the recent technologies to strengthen its spread. Cloud computing which is adopted by many supply chain companies is still on the buzz in acquiring new users to its portfolio. According to the MHI 2021 report done in collaboration with Deloitte shows that around 54% of the companies are planning for an adoption of cloud computing for their supply chain management. The survey also shows that the early adopters of cloud computing are increasing their investment in technology to meet advanced requirements of the suppliers and consumers. Due to agile growth in e-commerce the need of advanced technology is required to scale up the supply chain and also to reduce the operating lead time.

Why it is needed?

Due to the sheer rapid growth of data in today's world, advanced cloud storage technology is required to make the best decisions for businesses. Companies value real-time data requirements and strong predictive analysis in order to get a competitive advantage in the market. Cloud computing aids supply chain optimization by addressing difficulties such as shipment delays, contractor issues, and geographic barriers. This contributes to the organization's supply chain being more efficient. Sharing data and storing vital information builds a bridge between two persons or organizations, allowing them to conduct efficient end-to-end communication. This technology is more appealing to the younger generation, who are all responsible for a company's supply chain management. There has been a generational transition in the last few decades, as well as a movement in technical advancements.

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

CLOUD-BASED SUPPLY CHAIN MANAGEMENT Two or more parties are linked via the provision of cloud services, relevant information, and finances in a cloud supply chain. Companies should first establish the technological requirements for transferring supply chain operations to the cloud before switching from a traditional supply chain to a cloud supply chain. This transformation process may be carried out utilizing the cloud lifecycle, which is a multi-step improvement lifecycle that allows the transformation process to be assessed and improved on a regular basis. However, before doing so, businesses should consider all of the aspects when evaluating the use of cloud technology in their supply chain. Before making the key choice to go to the cloud, questions concerning the changes, benefits, and issues that supply chain stakeholders encounter when employing cloud computing should be thoroughly answered.

Cloud Computing in Supply Chain Activities 1. Forecasting and Planning Cloud-based systems are intended to help businesses improve their service levels by coordinating the supply chain network's partners (retailers, suppliers, and distributors), all of whom play a critical role in demand forecasting. These platforms may collect sales data through the internet, do basic analytics, and generate more accurate statistical demand estimates for all supply chain partners as a result. As a result of this procedure, the Bullwhip effect, or information distortion across different stages of the supply chain, may be significantly reduced, allowing all stakeholders to be aware of the genuine demand volatility they must deal with. EDI (Electronic Data Interchange) and forecast execution applications are combined into a single multi-party platform in cloud demand and order planning systems. As illustrated in Figure 2, when clients place orders, distributors transfer the evidence to the press cloud, making it available to the whole supply chain at the same time.

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

2. Sourcing and Procurement Sourcing combines procurement operations and the identification of acceptable suppliers with the purchase, reception, and examination of incoming commodities (Schrödl & Turowski, 2011). In this situation, cloud-based systems may work as a database, storing several data points about various suppliers, resulting in considerable savings for businesses that deal with a large number of them. As a result, businesses may choose their suppliers based on their capacity to supply the right raw materials or semi-products in accordance with the end product's standards and meet deadlines.

Furthermore, cloud-based solutions enable businesses and suppliers to establish contracts, resulting in a significant improvement in contract administration.

Benefits Following, the main positive implications of cloud-based supply chain management, namely Cost efficiency, simplification, flexibility, visibility, scalability and sustainability are discussed.

Cost Efficiency Cloud computing technologies may be utilized efficiently in supply chain management since the resulting financial benefits are significant. Cloud services, unlike traditional in-house ERP (Enterprise Resource Planning) systems, do not need any software or computer power ownership because they are provided by third parties (public clouds). As a result, supply chain management software capital expenses can be converted to operating costs, improving a company's cash flow.

The only prices that businesses must pay in order to purchase cloud-based systems are an activation charge and a usage fee that changes depending on the degree of cloud service consumption.

Flexibility There are a range of apps for the complete supply chain that may be housed on one single cloudbased platform, ranging from demand forecasting to warehouse or transportation management.

Furthermore, supply chain participants might use standard devices to access such a platform from their own environment or firm, independent of their location. To put it another way, cloud apps can be operated from anywhere. This extensive network connection allows the whole supply chain to be more agile, allowing enterprises to swiftly enter new markets with new products and services.

Visibility Visibility allows numerous supply chain partners to communicate in real time. Companies will be able to see supply chain events as they happen and, as a consequence, react with any potential difficulties or deviations from plans (GT Nexus, 2009). As a result, visibility is a critical problem for 3PL service providers, as it not only aids in the coordination of operations and the management of many clients, but it also allows the customer network to have a clear perspective of the entire system (Gillis, 2011). Cloud-based solutions may give real-time inventory and shipment visibility, as well as better logistics tracking.

20| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Scalability Supply chain stakeholders may more precisely regulate their system capacity by using cloud computing. Companies require sufficient capacity during periods of high demand in order to fulfil their customers' demands. As a result, they should possess the necessary database for the entire year utilizing common on-premises systems in order to respond to the high demand for a short period of time. Companies may now modify their capacity automatically according to their demands and scale their processing power based on demand variations thanks to the arrival of cloud technology (Zhou et al., 2012). Companies can, for example, utilize hybrid cloud to deescalate their in-house capacity up to the limits of predicted low demand and use cloud-based capacity for abrupt demand spikes, as shown in Figure 3. (M&E Team, 2009).

Sustainability Cloud computing is a new type of 'green' IT that may help businesses improve their operational efficiency, lower their energy expenses, and reduce their environmental effect (Scott & Watson, 2012). Many experts, however, question if the benefits of going to the cloud are real or if it is just about outsourcing environmental effect to the service provider (Aboodetal., 2010). The virtualization provided by cloud technology, which leads to a significant gain in energy efficiency by utilizing the economies of scale associated with a large number of enterprises using the same cloud infrastructure, might resolve such a debate (Garg & Buyya, 2012). CO2 emissions per user are significantly reduced when utilizing cloud platforms vs in-house systems, according to Aboodetal. (2010), because cloud technology allows numerous firms to utilize the same infrastructure. Companies might, for example, improve their inventory routes based on real-time occurrences and so minimize emissions that are damaging to the environment, thanks to visibility.

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

Ms. Anuka Chakraborty MBA,2021-2023 IBS Hyderabad Dominance of E-commerce on The Supply Chain Management Electronic commerce is a network that enhances and improves the company's performance. It's used in every aspect within the organization whether it was externally or internally. As a result, if companies use technology in the supply chain, their relationships with suppliers and customers will be improved in a variety of ways. It also allows for the exchange of data without the need for investment, as well as the loss of money and time. Also, businesses come more flexible in managing the information that goes between them, the suppliers, and clients in addition to the movement of the products. This will lead to better client service and low operating costs. With the use of commerce, clients can buy products, track delivery orders and shipments, and pay for the product directly. It also allows companies to record details of each pallet, parcel, and item that is being packed. Electronic commerce can help companies enter and know what is demanded to be ordered or packed ahead of time. The implementation of technology in the force chain will reduce the need for manual intervention and paperwork which leads to high effectiveness.

How it evolved throughout the decade Over the last decade, technology, knowledge, and transportation have advanced and improved. With the high rate of competition and technological elaboration, businesses should be able to implement and use unique strategies, tools, deals, and channels of distribution that aren't complicated. Thus, by integrating e-commerce and with supply chain activities, a company can be capable to take raw materials and elements also manufacturing and distribute the goods to retailers or customers on time and at the right place without desertions. This will lower the cost and increase customers’ satisfaction.

Strategies for E-commerce business If you don't have a strategy in place to handle the flow of consumers and orders, managing your supply chain with an integrated e-commerce business might be tough. As a result, think about the following techniques for optimizing your e-commerce operations:

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

● Increase warehouse capacity and proximity to customers The closer your warehouses are to customers, the faster you can fulfill orders straight to consumers or brick-and-mortar merchants. ● Reduce shipping costs Because you'll be saving money through automation and increased warehouse capacity, offer free delivery on orders over a specific amount, as well as incentives to bundle items, such as price discounts and free shipping. ● Integrate an order management system Your order management system (OMS) should be integrated with your eCommerce store, physical locations, and ERP. As a result, the entire order management process is automated, working in tandem with each link of the supply chain to ensure customer satisfaction. ● Kit items The process of automatically manufacturing and storing bundled items together is known as kitting.

You won't have to spend extra time putting the bundle together and shipping it out if customers bundle items online and place an order. ● Automate invoicing With online invoicing, your customers can pay online and access all necessary payment documentation at any time. Orders will move more quickly through the supply chain as invoices are processed more quickly.

How E-commerce helps in supply chain E-commerce allows the business to facilitate any inter-organizational messages and reduces time intervals with additional cooperation. Thus, a business can fluently communicate with different departments or with others. companies immediately which won't beget detention in the production chain., There's a growing volume of literature on Internet channel operation strategies in the electronic commerce period. Utmost concentrates on the competitive pricing decisions and channel collaboration problem, in which the manufacturer sells products through physical stores and its Internet store. This is called the double-channel force chain.

How companies benefited from e-commerce Businesses that are enforcing and shifting to electronic commerce have been appreciatively affected in terms of success and profitability. This shift has opened the door for new technologies and payment styles that businesses started to take advantage of. With the times, the development and enhancement in the technology from electronic credit card processing machines to pay-by-phone systems had made it easier for consumers to use credit to buy what they want or need. Thus, this caused the credit cards company to profit a lot from this sale. In addition, customers can now fill out an application on a 23| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

website and be suitable to pre-order products or have pre-approved automobile loans without the need to interact or be faced to face with a human being. Due to this, a high number of customers started to favor buying online and companies make use of this to gain a competitive advantage.

Companies that are implementing this technique Globalware Solutions, Inc. and Jda Software Group, Inc. are two examples of these businesses.

Globalware Solutions Inc. is a full-service provider of supply chain management solutions, including software development and e-commerce-related applications. These assist suppliers with digital printing, product documentation, distribution, data management products, inventory tracking, sales, and shipping data. While Jda Software Group Inc. provides services that assist retailers in ensuring that products or items arrive at the store on time. Furthermore, the company offers cloud database software for integrated supply chain planning and assists businesses in managing everything from raw materials to finished product delivery.

Advantages Also, using e-commerce makes it easy for businesses to directly reach a wide range of customers by selling products and supplying services over the internet. Thus, integrating e-commerce in the supply chain will beget the elimination of the retailers in the channel of distribution which allows the business to directly vend and deliver the products to the customers. This leads to quick deals. Businesses may be able to reduce the impact of uncertainties by implementing electronic commerce. E-commerce is making SC more flexible and effective because of the advancements of supply chain collaboration’s which help to exclude unwanted information.

Conclusion Electronic commerce and supply chains have become an important part of today's world, as well as a critical component of success. Companies will face numerous delays, breakdowns, or mistakes in delivery if the supply chain is not clearly structured. Businesses, on the other hand, can easily track the flow of shipment and delivery, reach a wide range of customers and markets, and gather information with the implementation of e-commerce. This had created numerous opportunities for businesses as well as the development of new types of business.

24| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Ms. Smrati Solanki MBA, 2021-2023 IBS Hyderabad Inventory Management and Control

All the functions performed in a business are interlinked with each other. Key functions like supply chain management, logistics and inventory form the backbone of a business. Failure to manage them could lead to disastrous losses.

So then, what is inventory? Surely defining it is not the problem.

Inventory, by its very nature, is – dynamic. Inventory management requires constant and careful evaluation of external and internal factors and control through planning, organizing, and proper control. Most of the organizations have a separate department called inventory planners who continuously oversee, control any deviations from the standardized plans and review inventory by carefully scrutinizing plans relating to production, finance, and procurement.

A business at times may face certain operational challenges in inventory management. Current trends have made businesses outsource inventory management to third party service providers. Therefore, inventory in such situations would be managed not only by the company’s system but also by the service provider’s system. Inventory management thus becomes an important function especially in such situations where multi-locations and multiple service providers are involved.

Inventory control is also essential as part of the operational process. Inventory is divided into two dimensions. On one hand, it is physical, including physical transactions and inventory movement.

Inventory, on the other hand, can be identified by the book stock and system stocks that are kept.

This involves the use of inventory control mechanisms to ensure that the book and physical supplies are always coordinated.

Inventory in its flow states is always moving throughout the supply chain undergoing various transactions at multiple locations. As a result, inventory control and visibility across the network, including transit inventory, become critical.

Inventory audits and cycle counts are used to maintain inventory control. An inventory audit entails checking the records, stocks, and transactions, as well as matching physical stocks to book stock.

25| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

The cycle counts are of three distinct kinds - daily cycle count, quarterly& half yearly cycle count and wall to wall cycle count which is a mandatory end-of-year audit of the remaining inventory tallied with the numbers maintained in the books of accounts. Businesses build up inventories as safety stocks to cover for inefficiencies in internal systems. As a result, stock accumulation might arise as a means of circumventing supplier inefficiencies. When vendors are unreliable and raw material supply cannot be guaranteed, a tendency to keep buffer stocks in the form of raw materials or semimanufactured inventories develops.

In some circumstances, inventory accumulation occurs due to inferior quality. The cost of quality can be blamed for the increase in inventory costs and subsequent inventory storage costs. If the quality of the items produced is not consistent, they will be rejected, resulting in an increase in rejected goods. Often businesses are caught in the cycle of procurement of inventory while trying to release the left-up stock as efficiently as possible.

At times, production delays can result in inventory build-up. Production delays can be caused by a variety of factors, including poor product design, inefficient production layouts, production halts due to breakdowns, and lengthy process durations. Apart from these factors, there could be a myriad of additional issues involving people and management that result in slackness on the shop floor.

These inventory build-ups not only inhibit operating capital and raise the costs of storing stocks, but they also conceal weaknesses that could pose a major threat to the company. Management should be on the lookout for any such stockpiles, analyze and resolve the issues that may arise. Moreover, inventory is vulnerable to loss, theft, pilferage, and shrinkage over time. If not used within the shelf life, it might also become obsolete and deteriorate with time. As a result, inventory levels are always on the minds of not only finance controllers, but also senior management.

Inventory management is a crucial activity performed by planners to balance inventory holdings and maintain optimal inventory levels. Excess inventory increases inventory expenses and has a detrimental effect on the company's financials because it hinders working capital. Under inventory, on the other hand, can have an impact on market share.

Let us talk about how a highly popular retailer ZARA maintains its inventoryThe brand is known for its ability to swiftly and in lesser amounts offer new clothing to stores. Store managers order clothes twice a week at specified times, and fresh garments come twice a week on time. Zara achieves this by controlling a larger portion of its supply chain than most shops, and by keeping most of its production in-house. Its competitive advantage is its supplier network. The company only commits to 15 to 25% of a season's line six months in advance. The inventory management software used by Zara allows shop managers to communicate with customers about what they are looking for, as well as what they like and dislike. Based on the facts, Zara's designers continue to sketch. The organization uses inventory optimization models to predict the quantity to be delivered to a single retail location twice a week.

26| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

We understand that any customer order that is not fulfilled because of a stock out is a bad indicator.

As a result, finding a tight balance in maintaining lean inventory necessitates clever planning and continual inventory monitoring, as well as swift decision-making.

Thus, a strict vigilance and careful consideration of all the processions along with proper maintenance of the storage and warehousing facilities is required to maintain a healthy operational cycle of inventory. Afterall, if the spine of business is not set straight, the framework of the business is bound to dwindle and fall.

27| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Mr. Swagat Pattnaik MBA, 2021-2023 IBS Hyderabad Digital Facility Layout Planning

Facility layout planning has long been an important part of the design process for manufacturing systems. The introduction of CRAFT in 1963 was the most significant breakthrough in terms of offering a realistic quantitative solution to designing difficulties. Most previous approaches to the layout problem were non-quantitative, consisting of a set of checklists to be employed during the designing process. The layout challenge was treated as a quadratic assignment problem with area limitations, and CRAFT gave a way to heuristically solve it. It became possible to employ more computationally complex heuristic processes and to examine both static and dynamic features of a layout as computer capabilities improved. Extensions have recently been examined, including the multi-floor facility layout challenge and the influence of layout on the lifespan of production systems.

While some recent facility layout work reflects the continuous development and application of more efficient computing methods to the layout problem, other recent work has focused on the changing character of modern production systems. Today's manufacturing systems are typically built to be reconfigurable, modular, and integrated with modern material handling systems. They must often be adaptable and scalable in order to respond to changing demand at a reasonable cost. All of these developments have prompted the inclusion of emerging technologies, notably recent advancements in sensor technology, to be able to gather data about a production system automatically so that it may be used efficiently in a facility re-layout process.

What is FLP? Facility layout planning (FLP) is a set of design concerns that includes the positioning of items in a physical space that constitute industrial production systems. Because they are one of the most essential design considerations in business operation strategies, and because of their well-documented effects on production system costs, efficiency, and productivity, this topic has received a lot of attention in science. In this regard, the current study provides a scientific literature review on FLP from the standpoint of operations management.

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

Factors affecting Facility Layout Several elements impact the design and execution of facility layouts. These characteristics differ by industry, but they all have an impact on facility layout. These factors are as follows: • • • • •

The overall objectives of the company should be considered while designing the facility plan.

Processes and technology require the most area possible.

To avoid catastrophes, a good safety precaution must be taken.

The organization's overall management strategies and future orientation Digital Technologies for Layout Planning

1. 3D Mapping Three-dimensional (3D) modeling of an item or environment is defined as a process that begins with data collection and ends with a graphically interactive 3D virtual model on a computer. Though many people think of 3D modelling as the process of transforming a measured point cloud into a triangulated network or textured surface, it is actually the process of reconstructing objects or the environment. In the past, scholars in the disciplines of graphics, vision, and photogrammetric were very interested in 3D modeling of things and the environment. As digital 3D models become more widely used, 3D modeling has become a critical and basic process in inspection, visualization, navigation, object identification, and categorization Three-dimensional (3D) modelling of an item or environment is defined as a process that begins with data collection and ends with a graphically interactive 3D virtual model on a computer. While many people conceive of 3D modelling as the process of converting a measured point cloud into a triangulated network or textured surface, it is more accurately described as the process of rebuilding objects or the environment.

In the past, scholars in the disciplines of graphic, vision, and photogrammetry were very interested in 3D modelling of things and the environment. As digital 3D models become more widely used, 3D modelling has become a critical and basic process in inspection, visualization, navigation, object identification, and categorization. The information obtained from 3D scans has primarily been used for quality control in production and operations management, and has been applied in a wide range of industrial application areas, including automotive manufacturing for car body deformation measurement, supplier part control, and tracking and management of manufacturing machinery and processes.

2. Indoor Positioning System (IPS) An indoor positioning system (IPS) is a system that allows a mobile device to establish its location and make that information available to position-based services. These location-based services can be beneficial in a variety of settings, including hospitals, where the location of equipment must be known in order to effectively use medical resources, supermarkets, where customers want to know the quickest path to the desired products, and large museums, where tourists want to know the location of the artworks, they are interested in. Those procedures that can benefit the most from this approach are logistical processes.

29| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

3. Motion Capture System (MoCap) and Immersive Reality (IR) Manufacturing systems have seen constant modifications in recent years, beginning with the rise of globalization and mass customization, in order to meet market demands. Flexible production and assembly systems are, in reality, essential to deal with unpredictably changing market conditions, such as quick changes in product demand and the launch of new items on a regular basis. In particular, the structure and configuration of these systems must be varied depending not only on the product to be produced, but also on the operator who will operate in them, taking into account human diversity aspects (gender, age, body measures, physical capabilities). The inertial Motion Capture System (MoCap) is of high interest. Inertial MoCap is a system in which inertial measurement units (IMUs) are attached to the operator's body and communicate with a computer through a Wi-Fi connection, delivering data regarding joint angles, body segment orientation, and position. It is preferable to the traditional optical sensor-based MoCap since it does not need a camera and it is more precise in detecting movement. Inertial and optical MoCap have recently been merged into a Motion Analysis System (MAS). The MAS was tested in an industrial case study of a gearbox assembly process, with results indicating that the newly developed system was able to provide the most accurate representation of body postures and movements, overcoming the shortcomings of optical MoCap (tracking occlusion) and inertial MoCap (tracking occlusion) (joint positional drift over recording time). All of these systems, however, necessitate the construction of workstations, at least as prototypes, meaning substantial expenses (i.e., prototype manufacture or acquisition costs, space utilization costs, and sta_ costs).

Results The influence of 3D mapping, IPS, MoCap, and IR technologies in layout planning has been assessed, with a particular focus on their impact on the creation of sustainable facilities. The impact of new technologies on the three pillars that make up the sustainability idea, namely environmental, social, and economic, has been evaluated in particular, enabling the following conclusions to be drawn.: • On the department, machine, and workstation levels, all of the technologies reviewed here minimize the time, effort, and costs associated with the five-step layout design procedures.

• In terms of the social pillar, MoCap and IR are particularly appealing since they allow for a humancentered workplace design that enhances worker ergonomics and decreases tiredness.

• A more efficient and dynamic department and machine arrangement has a positive influence on the environment by reducing the demand for new buildings and transportation.

As a result, the introduction of new technologies is of significant interest, and their potential role in the development of sustainable facilities warrants more examination. Most crucially, future connection with dedicated software will allow for continuous monitoring of the layout's sustainability performance, allowing for the creation of completely dynamic patterns. The utility and effectiveness of these technologies, as well as their spatially dependent applications (whether in virtual or real space), are 30| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

intrinsically related to the complexity of the geographic data used in the applications. This is because the amount of spatial detail on which technologies function is influenced by spatial complexity, and this element has to be investigated more. Finally, future studies should look at the possibilities for developing and analyzing data-driven key performance indicators, as well as their possible use in connection with applied technologies and industrial applications (like process industry, discrete manufacturing, warehouses, etc.).

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

Ms. Kashish Tyagi MBA, 2021-2023 IBS Hyderabad How Can Industry Influence Women to Pursue Supply Chain Management?

Companies have made attempts to bridge the much-discussed supply chain talent gap in recent years.

Admittedly, supply chain has become an extremely important component of corporate management and strategic transformation, and the competencies necessary for the future are considerably different to those required in the past.

A key to bridging the gap is identifying and utilizing the latent potential of women in today’s supply chain. This significant gap is why reform must be implemented that includes women at all levels and provides possibilities for women to thrive.

Being a female in a male-dominated business has long been a barrier for women in the supply chain industry, but those figures are beginning to shift. According to a survey conducted by Gartner and Achieving Women's Excellence in Supply Chain Operations, Management, and Education (AWESOME), an organization dedicated to developing women's supply chain leadership, just about 39 percent of full-time supply chain personnel are female, up from 35 percent in 2016.

With an increased emphasis on workplace equality, the supply chain and manufacturing industries ought to be more inclusive of women and help pave the way for other sectors to attract talent at all levels. A more inclusive, diversified workforce enables companies to be more agile, innovative, and resilient.

Females have a great potential to succeed in the supply chain business because it is currently a maledominated area with possibilities for advancement. The gender gap can be addressed by examining the factors that may impact a woman's decision to major in supply chain management and eventually seek a career in supply chain.

Emphasizing Inclusive Hiring Efforts Recruiting more women is the very first step toward developing the workforce of the future.

Concentrating on internships and entry-level opportunities is a great way to begin. Filling your pipeline through partnerships with supply chain programmers at business colleges with at least 40% female student involvement is one way to achieve this.

32| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Targets can be set to bring in a broad group of candidates for interviews, including many women, when you have a new position vacant. To eliminate unconscious bias, the recruiting supervisors should be made up entirely of women, since they are more likely to spot prospective female talent. Companies may broaden the talent pool by developing women-focused talent retention initiatives and striving to eliminate inadvertent prejudices by engaging more women in the recruiting process itself.

Raising awareness of gender imbalance In general, the supply chain and logistics sectors continue to be dominated by men at both the national and local levels. The low visibility of females already working in the business is a significant barrier to attracting more women into the field. Industry organizations and councils believe that continued outreach activities are needed to enlighten women about the possibilities available in the business and to attract more women to the sector.

The industry must improve its marketing to women in order to raise their awareness, such as through career/job fairs, ad campaigns targeted exclusively at women, collaboration with post-secondary academic institutions, and symposiums for students and parents.

Employee benefits that will entice women When looking for a job, both men and women prioritize criteria including a competitive income, a robust benefits package, and prospects for advancement. However, in order to attract the best female talent, one must think outside the box and provide advantages and programmers that are especially tailored to women.

On-the-job training and executive leadership programmers that connect women with corporate executives are excellent methods to demonstrate the commitment to assisting women in growing and advancing their careers. Flex time and work-from-home options are especially useful for women who are planning to establish a family and want to strike a work-life balance.

Provide mentorship programmers with learning opportunities Structured mentorship programmers are one of the most valuable offerings that an organization can have, and they are even more valuable in industries where women have historically been underrepresented. Ensure that each person is paired with someone who will assist them in enhancing their strengths — mentorship programmers are most effective when matches are established based on the participants' unique characteristics and skill sets, rather than gender alone.

Encourage the value of mentorship in advancing women's careers, and provide resources to female employees who are interested in finding a mentor outside of the workplace but are unsure where to begin. This will also aid in long-term retention, as employees who feel supported by their employer are more loyal.

33| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Making strides to Nurture Women are expected to constitute a significant proportion of supply chain and manufacturing professionals over the next ten years, thus there is a strong need to provide them with equal opportunities at all levels, particularly in leadership positions.

Taking the strategies outlined above will be critical to creating an inclusive workplace and recruiting more women to this expanding sector. One may effectively bridge the gender gap in supply chain and logistics by modifying the entry-level recruitment strategy and building an atmosphere that supports internal talent development.

Supply chain and logistics organizations can help bridge the industry's gender gap by implementing these strategies, increasing workplace inclusivity while maintaining a competitive edge in today's changing industrial landscape.

Conclusion: It is certain that attitude in terms of compatibility, perceived behavioral control in terms of efficacy, and subjective standards impact young women. Companies are striving to diversify their workforces and make their workplaces more inviting to women and families. This will not only result in more females into the supply chain sector, but it may also benefit in the recruitment of supply chain majors of any gender. It's an exciting moment to work in supply chain management since there will be a significant need for logisticians in the coming years. As discussed previously, the gender disparity between males and females in the profession is considerable. Women make up just 5% of supply chain executives. To actually prosper and make an impact in the world's most pressing challenges, the industry will need a new generation of capabilities, which will necessitate a diverse and equitable direction. Companies and consumers are becoming more mindful of how corporations do business and who they collaborate with.

As a result, businesses have a chance to demonstrate the beneficial impact that diversity and inclusion have on a supply chain and the whole organization. People want to work with and for organizations that value diversity. Individuals are paying more attention to supply chain diversity and holding organizations responsible for their policies throughout the hiring process. When it comes to inclusion, businesses should take the lead and make a positive impact that is recognized throughout the industry.

A more varied and inclusive workforce that includes both men and women might generate more ideas for innovation. It is possible to gradually incorporate more women into the supply chain management industry by establishing associations that encourage young women to pursue the field.

34| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

Mr. Somashekhar Chougale MBA, 2021-2023 IBS Hyderabad Reverse Logistic Reverse logistics is a type of supply chain operation during which goods are returned from end user to merchandisers or manufacturers. After an end user receives a product, processes like returns and recycling necessitate reverse logistics.

Reverse logistics begins with the end customer and works its way back through the force chain to the distributor or from the distributor to the manufacturer. Reverse logistics can indeed see processes during which the end user is answerable for the product's final disposal, like recycling, refurbishing, or resale.

The thing is to either recoup or get relieve of the product's value. Returns are worth nearly a trillion bones worldwide every time and come more common as ecommerce has grown.

The pretensions of reverse logistics are to recover value and insure reprise business. In- store purchases are returned at a rate of lower than 10%, whereas particulars ordered online are returned at a rate of a min. of 30%. Reverse logistics is employed by canny businesses to extend client fidelity and reprise business while minimizing return losses.

Reverse Logistics Process The reverse logistics process entails managing returns also as copping redundant goods and accoutrements. the tactic is also answerable of dealing with any plats or emendations. Reverse logistics varies by assiduity, and there are colorful profitable impulses for perfecting reverse logistics management. In the libation assiduity, as an illustration, the reverse logistics process makes use of empty valve holders. Beverage manufacturers want to reclaim the price of their holders by reusing them. This necessitates transportation planning, shipping cargo operation, and vessel cleaning. Reverse logistics is employed within the assiduity to maneuver and reclaim rescued accoutrements to new locales. because the construction assiduity adopts further sustainable waste- reduction practices, there's a chance to avoid wasting plutocrat by using reverse logistics.

In the food and beverage industries, reverse logistics is shamefaced of returning packaging accoutrements and pallets. Companies must also pander to rejected food shipments. Rejections can beget logistical issues like food spoilage and enterprises about tampering. The Reverse Logistics Association is developing secure, quick, and dependable login (SQRL) codes for packaging to give detailed product information and address these logistical challenges.

35| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

5

Way to Good Reverse Logistics:

1. Return Processing: When a client indicates that they bear to return a product, the return process begins. This step should include return authorization and determining the condition of the wares. This procedure also includes scheduling return shipments, approving refunds, and replacing imperfect goods.

2. Handle Returns: When a returned product arrives at your position or a centralized processing center, check it to work out the type of return. (Note If reverse logistics has been optimized, you should know where the wares should go before it arrives.) Kind products into the coming orders for disposal fix, resell as new, resell as a return, reclaim, scrap, or refurbish.

3. Continue to Move Returns: Shoot fixable particulars to the form department to hash back your diurnal waste.

4. Repair: Move the returned item/ outfit to the repair area after reviewing it and determining whether it a frequently repaired. However, vend any corridor which is suitable to be vended, If within the least possible.

5. Recycle: Any corridor or products that you just can’t fix, exercise or resell should be transferred to the realm for recycling.

Types of Reverse Logistics The colorful forms of reverse logistics are also observed as reverse logistics factors. they are concerned with returns operation and return policies and procedures (RPP), also as remanufacturing, packaging, unsold goods, and delivery issues. Plats, repairs, and wares withdrawal are samples of reverse logistics.

Reverse Logistics Components 1. Returns operation This process deals with client product returns or precluding returns within the primary place. These conditioning should be quick, easy to manage, visible, and simple. Guests estimate a company supported its return and re-return programs. Are-return is that the alternate time an item is returned.

These returns constantly spark extended return programs, like offering store credit. for illustration, suppose a client purchases a returned product on concurrence, brings it home, and discovers it's broken. Typically, the shop policy wouldn't accept the return, but it does provide a store credit for the defective product. Are-return can also do when a seller rejects a return and returns it to the purchaser without furnishing a refund. This script is possible with custom- made particulars.

2. Return policy and procedure (RPP) The RPP is also a company's return programs that it shares with its guests. These programs must be clear and harmonious. Workers must also follow them.

36| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

3. Remanufacturing or refurbishment Remanufacturing, refurbishing, and revamping are all samples of reverse logistics operation. These conditioning involve the form, rebuilding, and revamping of products. Companies recover exchangeable, applicable corridor or accoutrements from other products, which is observed as part cannibalization. Revamping entails disassembling, drawing, and reassembling products.

4. Packaging operation It's a type of reverse logistics that focuses on reusing quilting accoutrements so on cut back waste and disposal.

5. Unsold goods Unsold goods reverse logistics handles return from retailers to manufacturers or distributors. These styles of returns are that the results of poor deals, obsolete force, or a delivery refusal.

6. End-of- life (EOL) When a product reaches the tip of its useful life, it is not useful or functional. the wares might not meet the wants of the client or get replaced by a further modern, better interpretation. End-of- life products are constantly reclaimed or disposed of by manufacturers. These products can pose environmental challenges for both manufacturers and countries.

7. Deliver Failure When deliveries fail, motorists return products to sorting centers. The products are also returned to their point of origin by sorting centers. While it's uncommon, some sorting centers may have staff available to figure out why a delivery failed, correct the issue, and resend.

8. Settlements and leasing When a small quantum of outfit's parcel or reimbursement contract expires, the company that owns it can remarket, reclaim, or redeploy it.

9. Repairs and maintenance In some product agreements, guests and enterprises conform to take care of or form outfit if problems arise. In some cases, the company sells repaired damaged returned products to a special consumer.

37| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y

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

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

LAKSHYA is an academic print and is not for any commercial sale. Reliability and Responsibility, for sources of data for the article vests with the respective authors.

Please feel free to drop in your suggestions at kaizenclub.ibs@gmail.com KORE: Kaizen’s Operations & Research Entity.

Kaizen – The Official Operations Club of IBS Hyderabad All Rights Reserved

Designed by

39| K A I Z E N ’ S O P E R A T I O N S & R E S E A R C H E N T I T Y