Due to COVID-19 pandemic and one of its kind in history, a worldwide lockdown of economic activities, The world economy is staring at a prolonged global recession, the first and obvious impact on global recession is job loss across industries.
The organization will need to reprioritize their business objectives and survival would be the first and foremost choice for companies of all sizes, For companies to survive, they will need to reduce the cost to retain existing consumers, Since consumers too are affected due to job losses, they too will prioritize if not cancel their procurement in the near term and they may expect to pay less for the same products and services than they used to pay Pre COVID-19 situation.
The IT professional in end-user organizations will need to once again need to earn their role, position and need to earn their paychecks. Survival of the Fittest shall be more relevant than ever before in history for both companies and their employees.
To combat this situation and come out triumphant, IT leaders need to identify and grab every opportunity to optimize cost and facilitate improvement in revenue for their organization and present each qualified opportunity to management as a Project.
Opportunities must possess the following qualifying criteria;
- It needs little or no budget from the organization.
- The benefits of projects must be estimated, measured and published
- It must directly contribute towards cost optimization and or improvement in revenue.
A typical Small and Medium size enterprises can adept to open source software to reduce per user per year licensing cost, One can imagine significant savings for a typical SME of staff strength of 100 employees.
In order to come out triumphant, IT leaders need to identify and grab every opportunity to optimize cost and facilitate an increase in revenue for the organization and present each qualified opportunity to management as a Project.
One of the use cases, A CIO can implement for manufacturing organizations to reduce cost and improve the quality of its products.
Every company constantly thrives to deliver the zero-defect product at the lowest price in the market to survive in a competitive business environment, any shortcomings and or faults in the finished product increase cost due to rejection and or rework.
Typically, Quality processes involves measuring of pre-defined quality parameters values against standard values desired, if there is any deviation beyond tolerance limits in actual values V/s standard values of quality parameters, the entire batch will need to be rejected this will result into outright rejection and or reworking resulting into cost wastage.
However, most of the time, the quality parameters are measured at finished product stage by shop floor quality staff manually and or are measured semi-automatically and so the probability of defective product going through the entire production process unnecessarily and contributing to cost leakage.
Quality of finished products depends on input raw materials, other inputs, and environmental conditions such as temperature, humidity, etc, and most of the time these are not monitored or are monitored manually during the production.
CIO can propose leveraging an IIoT, digital dashboard, to provide real-time information to production and quality teams, a real-time view of production and quality parameters and its values so that they can preempt any issues and can take preventive actions detrimental to the quality of the finished product. Further, it can be programmed to take preventive actions such as maintenance of appropriate temperature and humidity at all the time using sensors and other IoT technology components.