Components of Commercial Value Chain
February 12, 2025
The economics of the music industry has been radically changed in the past two decades or so. Ever since the internet became a reality, music could be shared for free. The entire industry faced the onslaught of the latest developments in web technology. Companies like Napster encouraged piracy and allowed users to download and share […]
Inventory procurement, storage and management is associated with huge costs associated with each these functions. Inventory costs are basically categorized into three headings: Ordering Cost Carrying Cost Shortage or stock out Cost & Cost of Replenishment Cost of Loss, pilferage, shrinkage and obsolescence etc. Cost of Logistics Sales Discounts, Volume discounts and other related costs. […]
Demand Planning: The objective of this function is to create a demand plan, based on historical sales data. The demand plan resulting from this function is the starting point for Supply Planning. The demand plan contains forecasted demand for an item, using standard forecasting methods. If the past data is inappropriate or insufficient, the forecast […]
The fishbone diagram, which also goes by a couple of other names like the Cause and effect diagram and the Ishikawa diagram is one of the seven basic tools of quality management. It has wide ranging applications in almost all six sigma projects. The Fishbone diagram is a simple but highly effective tool in problem […]
Total Quality management refers to a continuous effort of management along with the employees of a particular organization to improve the quality of products and services. Businesses need to emphasize on quality of their products rather than quantity to survive the fierce competition. Remember in today’s scenario, there is no dearth of competitors in the […]
Emerging platforms are new technology developments and business models for which a theory is yet to be formulated, and yet there are rapid, radical innovations happening in their field.
In this article, we will learn about one such platform - Cloud Computing by doing a critical assessment of its current trends, appreciate the challenges in implementing it and gain a perspective on how this technology impacts business outcomes.
Cloud computing is a suite of tools which enables companies to lease their digital assets somewhere ‘in the cloud’. So unlike the ‘on-premise’ data centers, the location of computers, applications and databases that employees are using is unknown.
The point is to free companies from details and ‘rent’ whatever is needed from the cloud. They don’t need to buy and thus the IT expenses are switched from fixed capital to operating expenses.
Let us clarify some jargons that are often used in tandem with the cloud terminology. The offerings of the cloud can broadly be categorized into the following:
Apart from doing away with purchasing and installing massive data centers and making information available on web browsers, cloud has several benefits:
The IT department has to perform the repetitive task of creating a folder for each user and granting them the required access. If the folder details are to be shared with anyone else, the requisition has to again be routed via the IT department. In contrast, a cloud environment can enable self administration of accounts.
The cloud is still in its infancy stage and hence is an emerging platform. There is a fast increase in the number of cloud vendors; they are trying to be creative and segregate their offerings. In times ahead, there are expected to be transformative changes in this field and wider acceptance of the technology.
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