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Oct
27

Addressing the Emerging Trends in Service Operations

When sustainability is the only panacea for the existence of a business, we believe one can create a massive change. To further understand the importance of sustainability for a business, In 2013 FIIB started a campaign with a strong belief that OPERATIONS is the core of all business organizations. Every year OPEX Conclave accentuates the importance for better operational activities in an organization in order to sustain in the growing competitive economy. Extending this initiative we are coming back with the theme of EMERGING TRENDS IN SERVICE OPERATIONS.

FIIB operational excellence conclave

Operational excellence tools & techniques are progressively being used by companies in the “Service”  industry businesses like Banks, Insurance Corporations, Hospitals, Tour & Travels etc. These tools help solve over arching problems like low productivity, inadequate service level, high cost of customer care and too much “waste”, that hamper the day to day operations of a business,  and help them maximize value for customers over time. Various emerging trends in service operations are adoption of mobile technology, integration of cloud solutions, targeting the tech-savvy guests on social media etc.

For today’s service providers, change continues to come at a faster rate. This accelerated change comes as no surprise, given that service providers operate at the epicenter of virtually all the significant technological and business trends that have emerged in recent years. Service providers and their customers are now operating in an application economy, an environment in which applications play an increasingly integral role in the services, operations, and success of an organization. Given the fundamental and fast nature of change that’s been occurring, the reality is that the approach that may have worked for a service provider in the past may not be sustainable in long term.

With global competition at such a dynamic level, any day lost without operations improvement jeopardizes a company’s economic position; status quo and simply leads to failure. To outpace this competitive environment, companies are implementing strategies to establish competitive advantage as a low-cost producer or as a standout through product differentiation. The overall strategic intent is the creation of systems with resources that are capable, flexible and reliable to a performance level that establishes distinctive competencies in quality, efficiency, innovation and responsiveness. This distinctive competency thereby establishes a greater value for both the customer and shareholders.

Thus, Operational Excellence is the need of the hour across the various sectors of global business. OPERATION EXCELLENCE Conclave (28TH OCTOBER, 2017 organized by the students of FIIB of SIGMA CLUB), in the past had been duly addressed by speakers like Mr. MansinghJaswal, Global customer manager at DHL, Mr. Ajitsingh, supply chain manager at Walmart, Mr. Biswadeep Ghoshal, Department manager at Future Group and much more. This year, we will try to understand the sustainable operational initiatives that companies are undertaking to keep abreast of competition and learn how to be sustainable.

 

  • Student Entry by Kanav Dhingra, Class of 2019

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