Ops Diaries 2017: Day 6: “Demystifying Operations”: Ms. Nivedita Konduri, Manager at Dr. Reddy’s Laboratories

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On 11th November 2017, a notable alum of TAPMI, Ms. Nivedita Konduri started the lecture by discussing the elective subjects with students. She explained how certain subjects are intellectually stimulating and how students can apply the concepts in their workplace. She then spoke about her summer internship experience and how it helped her to broaden her horizons.

Explaining the concept of Procure-to-Pay, she said it is an essential part of any business in today’s world. The P2P process includes obtaining raw materials to provide products or services to the customer. She discussed the SAP and ERP models of the procurement process. Moving on to discuss the various ways of data interpretation, Ms. Konduri explained the importance of case studies, spreadsheets, and presentation. Data analysis is one of the most important aspects of any job. It includes data cleaning, crystal clear calculations and categorizing data according to value and volume.

She also advised students about the importance of having certain certifications such as SCPro Certification, Certified Supply Chain Professional and Certified in Production and Inventory Management. She also emphasized on participating in competitions which helps in the practical understanding of the subjects and also, network with students from other business schools.

Discussing Supply Chain Management, she elaborated on the processes of sourcing, planning, logistics, and strategy. She gave the students a glimpse into the role of an Operations Manager in manufacturing and non-manufacturing sectors. In the manufacturing sector, the role would typically include production planning, capacity planning, inventory management and manufacturing strategy; whereas in the non-manufacturing sector, the roles would include functional and management consulting improvement projects, quality control, and operations excellence.

Coming to the end of her lecture, she answered queries from the students. It was a very enriching and fulfilling session.

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Ops Diaries 2017: Day 6: “Operations Management in Financial Services”- Mr. Midhun Rajagopal, Management Consulting Analyst, Accenture Strategy

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On 11th November 2017, Mr. Midhun Rajagopal addressed the students at TAPMI regarding operations management in financial services. He started the session by giving a brief about his work experience across various companies. He briefly described why operations management is important for financial services, citing examples from his work experience. He said that 80% of the problems that arise in financial firms are related to operations. He listed out three different cases of operations management playing a major role in financial services from his work experience and promised to walk the students through the same sequentially.

The first example he quoted was the process transformation journey for a large global bank. He mentioned the problem statement for this client, which was to reduce its operational and technological costs. He gave a brief of the methodology followed, which included re-engineering the process, defining process hierarchy, standardizing process across all geographies and mapping detailed end to end target state process for all functions of the bank. He then explained the outcomes of these processes, few of which were mapping 1600 activities across all functions, standardizing process across 29 countries with 80% commonality, reduction of operational and technological costs by 27% etc. He mentioned the key operations concepts used in this project which was access mapping, business process re-engineering, process standardization and to be mapping.

He then moved on to the next project which was to enhance customer service guarantee for a leading Indian NBFC. The problem statement here was to increase its market share in lending business by offering supreme customer experience through faster and transparent loans processing. He briefly explained the methodology followed, which included redesigning the loans processing flow, developing a BPM workflow solution, developing a comprehensive MIS for management reporting, supporting the client to roll-out the revamped process in key branches, training the staff and ensuring process adherence. He then listed out the benefits due to this process which was standardized process flow, better oversight of branch operations and enhanced customer experience.

The third example mentioned was to optimize client due diligence for a multinational bank. Moving on to the methodology he briefly explained the “as is CDD (Customer due diligence) process” and “To be CDD process”. He then listed out the benefits received through this process, few of them were: Standardized screening process, FTE reduction, reduced vendor licenses, reduced training costs, reduced screening touch time and improved screening quality. He listed out the key operations concepts used in this process, which were capacity planning, functional specialization, touch time reduction and stakeholder management.

The enriching session ended with Mr. Rajagopal engaging the students in an interesting Q&A session which facilitated a healthy flow of ideas.

 

Ops Diaries 2017: Day 2: “Modern Day Operations and Supply Chain Management”- Mr. Arun Bhat, Assistant Manager, Coffee Day Beverages

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On 28th October 2017, Mr. Arun Bhat addressed the student fraternity at TAPMI regarding the changing trends in operations. Mentioning about the industrial revolution characterized by mechanization which took place in the 18th century, he said that we have come a long way with Internet of Things marking the trend of the industries today. Industry 4.0 concentrates on providing critical data about the operation chain even before any breakage in linkage takes place. Timely Data Analysis informs us regarding the bottle neck of the process. Talking about his organization, he said that with a market share of 80% Coffee Day vending is a good example of Business to Business operations.

Explaining about the modern-day supply chain management, he said that requirement (Indent) information goes to the procurement team and eventually reaches the Main Warehouses and Branch Stores. The technicians at the stores transfer the data to Rework Centers and the extracted information is passed on to the Data Entry operators. These operators in turn send the extracted useful information back to the requirement teams.

Citing an example he said, that the data on workforce planning is procured from the data centers which helps recruiters in understanding the prospective candidates before hiring them. The data also helps isolate non-productive machinery and this information ensures improvement in the supply chain. He also gave illustrative  insights on the Bullwhip effect and how  it affects the whole supply chain. To reduce the inefficiencies in the supply chain, preventive maintenance is performed in fixed intervals whereas intuitive measures are taken based on IoT feedback. Both aim at preventing breakdowns and scheduling timely maintenance.

The enriching session ended with Mr. Bhat engaging the audience in an interesting Q&A session which facilitated a healthy flow of ideas.

OPS DIARIES: DAY 2: Mr. Karthik Koppula, Assistant Manager at Sequel International Logistics

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On 28th October 2017, in a highly interactive discussion by Mr Karthik Koppula, a TAPMI alumnus himself (Batch 2014-2016), covered major aspects of the multidisciplinary field of Operations Management. Students were given an overview of the various operations functions such as planning, organizing and supervising in the contexts of production, manufacturing or the provision of services.

He elaborated on these functions by giving examples from his own experience as Assistant Manager at Sequel International Logistics, which focusses on the delivery of high monetary value consignments such as jewellery, among others.

He detailed the challenges involved with handling the logistics of the same such as security, damage, stringent regulations, on-time delivery, cost and manpower.

He also illustrated the operations concepts of bottleneck, Hub and Spoke Model, Travelling Salesman Problem, Milk run concept etc by citing examples that the students could relate with.

Further, he elaborated on what his typical work day looks like, with wide-ranging activities such as Remote Operations Management, HR activities, Financing activities, Cost, Customer Relationship Management and coordination between all the divisions.

The impact of GST on the logistics sector was also examined.  “For the logistics sector, GST is the next big thing”, he opined, stating that the sector stood to gain the most from GST as it would reduce costs.

Mr Karthik also reminisced about his days at TAPMI, as a member of the “Logistics Committee”, which taught him humility as well as people management skills. He believes that the experiences that he gained from TAPMI have placed him in good stead in his career.

Finally, he gave the students tips on the placement process for Operations Management specific roles.

Finomenal 2017: Day 2 : Valedictory Ceremony

 

WhatsApp Image 2017-10-29 at 6.02.31 PM.jpegOn 29th October 2017, Finomenal 2017 came to an end with its valedictory ceremony. This year’s Finomenal was centered on the theme Govern, Strengthen and Transform. It gave a platform to bring together 13 industry experts from various domains with students from 13 different colleges. The flagship events were Echo – the guest lecture series, roundtable discussions and Accretion 1.0 where 35 teams brainstormed on mergers and acquisitions and top 6 teams competed in the final round.

The esteemed guests for the day Mr.Saurabh Sharma, Mr. Mitul Desai, Mr. Aditya Agarwal, Mr. Jayna Gandhi, Mr. Ganti Murthy and Mr. Adtiya Gadge gave their closing remarks and shared their experience about Finomenal and Tapmi Institute.

Winners of various competitions held across these two days were declared and awarded. The team from Tapmi Manipal emerged as Bloomberg Champions 2017 and SIBM Bangalore was the runners-up. In the section wars of hashtag challenge, section 1 emerged as the winner, winners of accretion were IIM Calcutta( Shubham Ranka and Vinay Sheoran)  and of govern it right which was an intra-college event were Ambrish and Nadan.

The event was concluded by the convenor of Finance forum with his vote of thanks to all the guests, committees, faculties and the students for the making of Finomenal 2017 a phenomenal event.

Finomenal 2017: Day 2: Coffee, Cookies and Conversations – Special Edition with Mr. Aditya Gadge, Founder of Priwexus

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On 29th October 2017, Mr. Aditya Gadge interacted with students from PGDM (BKFS) where he started by explaining what wealth management is. Wealth management includes investing, budgeting, planning, resource allocation and how each family member’s needs are taken care of during this process. The major difference between handling wealth in Western countries and India is the kind of relationship one has with the clients. In Western countries, one handles their wealth and then expects them to be friendly. In India, one has to become their friend and then they trust one with their wealth. This is mainly because you are handling wealth not only for them but also for their future generations.

There are 3 teams of wealth management which includes advisory, products and compliance. It is all about juggling multiple things and adapting to changing situations. The prerequisite for wealth management is knowledge of the products. According to him, “Wealth management is always about knowledge; if you have that, money will follow”. Another important trait is to have extremely good people skills. A wealth manager does not have a typical 9 to 5 job; his business is conducted mostly outside the office.

He then discussed alternative investments which can be defined as investments in any other funds except debt and equity. SEBI has started a very good initiative with Alternative Investment Funds being introduced. There are hundreds of opportunities opening up with investments in the movies business, art and real estate. With over 350+ Alternative Funds already set up, these funds provide an opportunity for individuals to invest money in.

The scenario in India is currently changing and the world is looking at us. The scope of wealth management is huge with per capita income as well as the standard of living increasing.

Most business families in India are in the 3rd generation who are financially literate individuals and understand the importance of wealth managers. At Priwexus, they are focusing more on the future generation. The aim is to create a peer to peer network of high wealth individuals which not only caters to top 100 business families but also Tier 2 and 3 families who were outside the purview up until now. He ended by saying, Wealth management is a changing and dynamic field; one always has to be on top of their game”.

Finomenal 2017: Day 2: “Banking in a time of Change” – Mr. Aditya Agrawal, Joint Vice President, TransUnion CIBIL Limited

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29th October 2017: Mr. Agrawal, in his lecture on “Banking in a time of change”, dwelt on the changing face of Indian financial institutions, driven by the technological advancements and change in customer preferences that we see today.

Quoting Frances Hodgson Burnett, “At first, people refuse to believe that a strange new thing can be done…then it is done and all the world wonders why it was not done centuries ago”, he said that disruptions in technology are transforming the banking sector. Banking is increasing turning to customer-centric models, he continued, and people are turning to their apps on their mobile phones or websites to handle their banking needs.

He then explained the evolution of the banking channels- traditional banking with physical channels gave way to digital channels, with 247365 access to services and focus on personalization. Today, advanced data analytics combined with AI empowers financial institutions with strategies to enhance the customer experience.

In India, the evolution of a new digital landscape built on JAM (Jan Dhan Yojana, Aadhar, and Mobile), is paving the way for greater financial inclusion.  The increase in payment banks, however, will increase competition in rural and semi-urban sectors, where traditional banks have to offer superior customer service and competitive products to stay ahead.

Mr. Agrawal also devoted a significant portion of his talk explaining the relevance of the emerging field of blockchain technology in banking. The blockchain is essentially a distributed ledger where each block contains a timestamp and holds batches of individual transactions with a link to a previous block. It creates secure alternatives to time-consuming banking processes, particularly with regard to online transactions.

The speed with which modern technology has developed has meant that the traditionally slow-moving financial institutions have to remain relevant to customers and competitive in the marketplace. With companies such as Google and Amazon venturing into fin-tech space, banks face more competition and bigger challenges. It is therefore imperative for financial institutions to evolve with time, becoming flexible enough to keep up with the demands of today’s society.