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Volume 02, Issue 01, April, 2013

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In this issue Book Review Student Articles Puzzles & Events Feedback at octaphi@jgu.edu.in

Almost all quality improvement comes via simplification of design, manufacturing, layout, processes, and procedures - Tom Peters It eases a project manager for “Project Management, Achieving Agile Manufacturing and Allocated stock accountability, controlling and cost cutting Competitive Advantage” by Jeffrey K. with respect to Project Management of any project. It further explains the The term ‘agile’ describes a manufacturing Pinto, 2007 [ISBN: 0130092339] impact and significance of a WBS and cost organization which aims to be as competitive as Jeffrey K. Pinto, the author, centres with example and also links it to possible in what is often an unpredictable in this edition has impressed the successful tools of MS project and environment. An agile manufacturer is able to upon the practices and Primavera. After imparting a WBS, how a use its resources and adapt to change and experiences to create a particular budget is allocated towards a uncertainty very quickly. Agile manufacturers holistic approach towards particular activity and how the costing of aim to turn in the market into positive Project Management. He each activity is interlinked to each other. opportunities by producing a wide variety of stresses equally on All the terminology and relations are different products which directly match the knowledge of leadership, team building, explained and stated in this context. The requirements of customers. negotiation along with the traditional importance of scheduling an activity in any practices of planning, scheduling, project WBS and identifying the lead time for control and termination to build a great base proper functioning of any project are next for students’ as-well-as professionals explained. The stresses on Resource practicing in this area. This book creates a management as a key for success, and any unique identity to its reviewers. negligence can lead to a constraints that Growth and prosperity of any business affect a project are next explained. Further, lies in its effective project management. Aim it focuses on project team building, conflict here is to enhance project management and negotiations as they are the only knowledge of an individual starting from driving forces within all tradition tools. traditional practices to better management And timely evaluation helps to control the practices. Numerous real life scenarios in project to meet deadlines and in cutting the terms of situational cases and simulation are extra cost due to delay. Thus the author has This concept is closely related to lean tried to cover the whole scenario and manufacturing, in which the goal is to reduce also presented. requirements of a project management and The book prospects start from a grass root equally justified the topic by promoting a waste as much as possible. Allocated stock level enlightening the need for project function of management for the success of refers to parts, components or finished products management to the project termination. It any project. The author provides a which have been reserved either for a particular describes project life cycle, its various stages comprehensive outlook of administrative, job, or for a particular customer, but have not and the purpose of benchmarking in technical and organizational elements for yet been issued or despatched. organization. Further, it elaborate on the the success of project management. This change in structure of organization and that book will definitely evoke students and better strategic management can lead to professionals and lift them to relook project effective project management practices. management through managerial and Along with the practices, it also reflects on financial prospects. the financial concepts that are vital to any This book has enhanced my knowledge project. It employs financial and option and has set a benchmark to relate every analyses to evaluate the potential for any aspect as a value chain. The topic on new project. Further, it deals with the theory of Constraints i.e. eliminating the influential role of leaders who are weakest chain concept should have been emotionally balanced and have the capability focused more. In short, it is a book that to take a firm decision for the success of any one must always refer while practicing the REFERENCES: “Key concepts in operations management”, by project. It also elaborate on the scope project management. Jonathan Sutherland & Diane Canwell. management as it is the function of - Book Review by http://www.uoguelph.ca/~dsparlin/aggregat.htm controlling a project in terms of goals and Abhay Kumar Singh, 12 JGBS http://www1.ximb.ac.in/users/fac/Surya/surya.nsf objectives through the processes of http://customcable.ca/lean-versus-agile-production/ conceptual development, full definition, execution & termination. It provides the foundation upon which all project work is It was very inspiring to see such an amazing work being done by Octaphi. I am following and based and is therefore the culmination of reading every issue, since its inception. Most of all I like its puzzle part. I hope Octaphi and its team would maintain same quality of work in future. All the best. - Venkat Tushar Burle, 11JGBS predevelopment planning.

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OCTANE-The Octaphi Newsletter

For previous issues visit: http://issuu.com/octaphi/docs Crossword Puzzle Answers for Vol .2, Issue 1 crossword: 1. Quality, 2.Operations, 3. Orderwinner, 4. Productivity, 5. Andon

Reinvention of Inventory Management Through Radio Frequency Identification Device and Electronic Product Code The inventory management is the backbone of supply chain & Operations management, cost can substantial to store and move inventory. Innovative methods such as just in time inventory control can save costs and move products and service to customers more quickly. Thus inventory management in simple is all about knowing what is on hand, where it is in use and how much finished product result. Today companies are developing new technologies and capabilities to manage product and capital asset inventory using some new technologies such as Radio Frequency Identification Device (RFID) and Electronic Product Code (EPC) RFID removes the need for labour intensive inventory cash and EPC provides a unique identification number corresponding to the specific item. Together these two technologies are changing the business strategy and new Inventory Technologies and deliver an unthinkable business result in all major section of logistics, warehouses, transport, retail chains etc.

Submission by May 01, 2013 to octaphi@jgu.edu.in Clues:

(R2): An order that cannot be satisfied (R7): A quantity of goods and materials, often a stock (C3): A constraint that limits the utilization of capacity (C5): Goods carried by large vehicle (C6): A Japanese word used to control the flow of production Club Activities

An improved inventory management is necessary to meet increasing demand of quality regulation and market requirement. Together RFID and EPC are ideally built as a single solution but each contributes its own cost and benefits. Thus understanding the distinction and complimentary as parts of RFID & EPC will help in adopting these technology and achieving the greatest return. RFID latest new technology is based on RFID Tags & RFID Readers. Used together the RFID & EPC enable benefits for assets and product inventory management up and down the entire supply and distribution chain. These two together are putting focus on the new benefits of previously impossible Improvement in inventory management. These play a traditional role in the warehouse, in the stock down and on store shelves management. Also in managing the inventory equipment in a given tracks and location of capital assets. - V.Vinay Raju, 12 JGBS

Octaphi Dash Board Achievements of the club. Octane Volumes & Issues Events Snapshots Trophies

We proudly say that our Octaphi blog reached 1013 page views at the end of March’13. Visit us: www.octaphi.blogspot.in

I am a regular reader of Octane and enthusiastically looking new experiments of Octaphi OM Club. The Newsletter covering all recent trends and aspects of OM activities, and is very much helpful to understand operations management sector trends and updates. Apart from that puzzles, quiz etc. also maintaining high quality and making people more interested in that subject. - Hari Narayan Perikamana, 11 JSIA

Editorial Board: V.Vinay Raju (12 JGBS) Amir Subhani (12 JGBS) Saroj Koul (JGBS) Contact: octaphi@jgu.edu.in

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OCTANE, VOL-2,ISSUE-1  

Quaterly Newsletter from Jindal Global Business School, Sonepat, Haryana. India.

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