MGT4542 Emerging Trends in Enterprise Applications
Assignment 1: Case Study Analysis
Assignment Questions
Ques 1:
Business Process Diagram
Figure 1: Business Process Diagram of Bakery Ltd.
(Source: Self-made, 2023)
Ques 2
Integrated Information System
Based on the case study analysis of Bakery Ltd., it is noticed that the company is facing major planning, production, recycling and distribution issues due to a lack of communication and a properly integrated information system. Hence, Enterprise resource planning (ERP) is the need of an hour for Bakery Ltd. as ERP provides a comprehensive approach to companies for managing important business activities such as planning, purchasing and inventory control (Hess et. al. 2016). The case study elaborates on the fact that despite two level checks in the planning system, forecasting goes wrong. Due to this, retailers fail to share necessary promotion details launched by the brands that have consecutively declined the forecasting accuracy. To tackle the current issue, ERP software can be implemented in the company that will not only enhance business reporting in real-time, but the software will also provide an integrated database for all the future business operations.
At the same time, Kane et. al. (2015), highlights better customer service as one of the major advantages of ERP software that will allow Bakery Ltd to access larger customer information that can improve on-time delivery and accuracy of customer service. After implementing an integrated information system such as ERP, the company will also be able to maintain better communication opportunities with various retailers and other manufacturing owners in the UK’s bread manufacturing business. The reason being ERP is known to build effective collaboration by improving productivity and employee satisfaction, which in return will build a meaningful relationships with different clients. Hence integrating ERP would be a practical step in mitigating inefficiencies related to manufacturing, planning, forecasting and distribution (D., Evans, 2017).
Report
Introduction
The present case study highlights the lack of integrated information systems and planning strategies that have consistently lowered sales profit and revenue in the last few years. Based on this, the below report has been designed that illustrates emerging digitalisation strategies and the importance of digital transformation in every business today.
Digitalisation and steps of the digitalisation strategy
The decision to implement digital transformation in any business venture needs appropriate accounting understanding and digital transformation steps that allows building objectives and business strategies for growth and development.
Step 1: Identifying the objectives
When thinking of transforming a business digitally, it is necessary to develop clear objectives and goals for accomplishment. When objectives are clear, the digital transformation strategy enhances customer experiences by understanding their needs and requirements (Katuu, 2021). Additionally, the digital transformation step creates cost-effective business operations with new technology. Therefore, defining objectives plays a key role.
Step 2: Focus on customer needs
The purpose of digitalisation in Bakery Ltd. is to identify customer value by focusing on their needs. Hence to have a successful digital tool for growth, the company needs to take into consideration the ever-changing customer demands. Once these demands are prioritised, different activities can be planned accordingly. For example, it is noticed that the company needs to be able to manage customer demands due to improper communication and a different set of rules for each outlet. Therefore building a strong communication platform through leveraged digital tools is necessary to cultivate a positive relationship between retailers, manufacturers and customers.
Step 3: Establishing new processes
Every business needs transformation timely because without changing business functions, no objectives or initiatives for growth will be able to help the organisation succeed. Therefore, reorganising the process to coordinate with the digital transformation initiatives is necessary for any business firm (Rafiei & Ricardez-Sandoval, 2020). To establish new processes effectively, Bakery Ltd. can take updates and ideas from its employees to get support and benefits.
Step 4: Choosing technology wisely
Not every technique works for every business. Therefore selecting appropriate technology is necessary as the chances of optimisation and growth increase. From the data provided in the case study, it is observed that due to a lack of communication between retailers and manufacturers, the retailers are not able to convey promotion details which in turn has impacted the revenue. Hence, there is a greater need to adopt technology that optimises the process and delivers greater accuracy in future.
Suite of technologies to transform the business
The future of every business is digitalisation. Hence selecting a suite of technology for transforming Bakery Ltd. is necessary.
Hyper-Local Marketing: The demand for IoT devices is extremely high, the reason being through IoT devices, identifying customer needs is easy, which is beneficial for hyper-local marketing. By adopting hyper-local marketing tools, the company can use geolocation data for growth and development (Lalić, 2020).
Data Analytics: Bakery Ltd. necessarily needs to implement data analytics in its system to grow its brand with time. With growing business competition and changing customer habits, the way to reach the maximum customer limit is through data analytics. Through data analytics, the company’s marketers will be able to personalise customer interaction.
AI-based automation: Over the last few years, AI has made tremendous development in supporting marketing strategies through smart voice assistants and search abilities. AI is a big technology of the 21st Century. Therefore on applying AI automation, Bakery Ltd, will be able to deliver better customer services by keeping up with its demands.
Challenges and solutions in adopting new technologies
Transforming any business digitally comes with various disadvantages initially; however, the company must integrate steps to overcome the same and conduct smooth operations.
Improper systems and procedures: Newly integrated technology can be beneficial; however, people operating them need to operate them with correct procedures, which restricts them from utilising their full potential (Li et. al. 2021). The above problem can be solved by providing additional training to the new technical staff to operate them with the right procedures.
Lack of monitoring: Monitoring a large amount of data after implementing a new digital tool becomes tiresome for many IT officials. Therefore, a lack of data results in missing out on progress and objectives required to meet short- and long-term goals.
Failing to win the staff over digitalisation: The majority of the staff in any commercial sector fails to accept the new technology because they have been adjusted to prior mechanical and manual operations. Hence, to develop acceptance in the minds of employees, their minds need to be inculcated with the benefits of the newly adopted digitalisation in the future (Li et. al. 2021). By doing so, they will feel more enthusiastic and motivated to use the technology.
Potential impact of the intervention
As stated by Shaikh, Sharma & Karjaluoto (2020), the digitalisation business model greatly enhances operational efficiency, which results in better productivity, planning, distribution and customer service. At the same time, when business operations are automated, it saves time by providing already gathered data from different sources, which otherwise is a time-consuming process. Therefore, to a large extent, adopting the digitalisation model by Bakery Ltd. would be a convenient step today and in future.
The next potential outcome of the above intervention would be driving the business through data insights. Collecting vast data from multiple sources physically is tedious and often leads to human errors (Gill et. al. 2022). However, when the process is guarded with technology, it optimises the speed and allows the user to collect, select, store and use the data appropriately. Hence, every business, small or large, necessarily needs to understand the benefits of digitalisation in coming years.
Conclusion
It can be concluded from the above report that steps for effective digital transformation such as understanding the objectives, choosing the right technology and establishing new processes contribute towards enhancement of business and helps in its growth and development. Overall, the report signifies the vitality of technological advancement that not only increases operational efficiency but will also enhances productivity.
References
D., Evans, Nicholas. (2017). Mastering Digital Business: How powerful combinations of disruptive technologies are enabling the next wave of digital transformation, BCS Learning & Development Limited, 2017. ProQuest Ebook Central, https://ebookcentral.proquest.com/lib/mdx/detail.action?docID=4717225
Gill, S. S., Xu, M., Ottaviani, C., Patros, P., Bahsoon, R., Shaghaghi, A., … & Uhlig, S. (2022). AI for next generation computing: Emerging trends and future directions. Internet of Things, 19, 100514. https://www.sciencedirect.com/science/article/pii/S254266052200018X
Hess, T., Matt, C., Benlian, A., & Wiesböck, F. (2016). Options for formulating a digital transformation strategy. MIS Quarterly Executive, 15(2). https://www.taylorfrancis.com/chapters/edit/10.4324/9780429286797-7/options-formulating-digital-transformation-strategy-thomas-hess-christian-matt-alexander-benlian-florian-wiesb%C3%B6ck
Kane, G. C., Palmer, D., Phillips, A. N., Kiron, D., & Buckley, N. (2015). Strategy, not technology, drives digital transformation. MIT Sloan Management Review and Deloitte University Press, 14(1-25). https://sloanreview.mit.edu/projects/strategy-drives-digital-transformation/
Katuu, S. (2021). Trends in the enterprise resource planning market landscape. Journal of Information and Organizational Sciences, 45(1), 55-75. https://www.ceeol.com/search/article-detail?id=987414
Lalić, D. (2020). the Usage of Enterprise Social Networks for Productivity Improvement. Emerging Trends in Industrial Engineering. https://www.academia.edu/download/85133343/c822a2ad-35c6-49f4-ab73-8e7dfb8de8c2.pdf
Li, Y., Shi, S., Wu, Y., & Chen, Y. (2021). A review of enterprise social media: visualisation of landscape and evolution. Internet Research, 31(4), 1203-1235. https://www.emerald.com/insight/content/doi/10.1108/INTR-07-2020-0389/full/html
Rafiei, M., & Ricardez-Sandoval, L. A. (2020). New frontiers, challenges, and opportunities in integration of design and control for enterprise-wide sustainability. Computers & Chemical Engineering, 132, 106610. https://doi.org/10.1016/j.compchemeng.2019.106610
Shaikh, A. A., Sharma, R., & Karjaluoto, H. (2020). Digital innovation & enterprise in the sharing economy: An action research agenda. Digital Business, 1(1), 100002. https://doi.org/10.1016/j.digbus.2021.100002
Watada, J., Roy, A., Kadikar, R., Pham, H., & Xu, B. (2019). Emerging trends, techniques and open issues of containerisation: a review. IEEE Access, 7, 152443-152472. https://ieeexplore.ieee.org/abstract/document/8861307/
Assignment 2: Research report
Introduction
The technological landscape process determines emerging technologies relevant to the innovation goals of a business enterprise. Artificial intelligence, or AI, is one such technology mainly used by various businesses and industries (Borges et. al. 2021). This report discusses a detailed understanding of AI in five businesses, its working, application and future potential. This advanced technology is chosen for this report as it aids in productivity and efficiency and enhances customer experience. The market of AI is expanding at a CAGR of 38.1% by 2030 (Howarth, 2023). Thus, this research report outlines five businesses that use this emerging technology and how it helps resolve a specific problem.
Discussion
Businesses must deal with a lot of data and information while addressing major threats and risks related to the external business environment (Enholm et. al. 2022). In such a scenario, automating the business functions and processes while utilizing available technologies becomes important. Companies can adopt specific technologies to deal with particular issues or implement innovation.
One such business using AI to enhance the efficiency of its products is Google. Google has been developing artificial intelligence for over two decades. The company continuously improvises its products and provides efficiency by implementing artificial intelligence. For example, the artificial intelligence implemented behind Google maps helps analyse data to offer up-to-date information regarding delays and traffic conditions. This sometimes also proves helpful in avoiding traffic jams. Artificial intelligence in Google maps automatically updates various things, such as speed limit and business hours, so that people can see the latest information regarding the world daily. Apart from this, another improvisation done by artificial intelligence is on YouTube. This product of the company also uses artificial intelligence to automatically generate various captions for videos and make them easily accessible to a wide range of audiences (Burr, 2023). Furthermore, numerous small and large businesses globally rely on Google ads to find customers and to develop their business. The company makes it even easy with the implementation of artificial intelligence. This technology has the potential to automatically reformat the landscape of advertisements into square or vertical shapes based on what someone is constantly watching on the YouTube application. The company is constantly working on this emerging technology and using it maturely and responsibly so that most of the benefit can be attained. This makes the products of the company even more useful to people and makes them excited about what comes next.
Another biggest problem in the banking industry is a fraud, and customers are keen to resolve this issue. Concerning this, various businesses in the banking industry are using artificial intelligence. one such bank is HSBC, and this UK-based financial holding company is considered the seventh largest bank globally in terms of assets. The company has introduced this technology into its compliance process, which is helpful in various ways, such as fraud identification. Artificial intelligence can determine complex fraudulent patterns and reduce false positives by consolidating large volumes of data, whether it be an IP address, usage pattern, phone number or geolocation tagging (Future Digital Finance, 2023). Moreover, this technology also works for getting in-depth knowledge of customers, which is also beneficial for the business functions of a bank or financial institution. This is done as it ensures linkage detection between customers, accounts and concerned parties that help institutions to completely understand the risk of doing business with a particular party. Moreover, AI works to identify bribery and insider trading by evaluating a variety of sources of information, including messages, emails, phone-call and expense reports.
Moreover, it has been identified that Vodafone is dealing with the problem of procurement transparency and increased expenses. Thus, to deal with this issue, the company is efficiently utilising artificial intelligence to reduce costs and accelerate procurement transparency. For this reason, the company has implemented a new cloud-based platform that focuses on streamlining business operations to a specific technology called process mining technology (Worldwide Business Research, 2023). This mainly relies on machine learning and artificial intelligence to extract the data from the IT system of the company and construct a detailed visual representation of how the company performs its functions.
The biggest need of the customers these days is that they want the companies to understand their requirements and preferences. In order to deal with this issue of customers, Sainsbury came up with artificial technology intelligence to identify what customers really want. It has adopted a machine learning platform to better understand the changing customer taste and preferences. Sainsbury’s commercial and technology team has allied with Accenture to develop a platform that helps the retailer tap into the latest eating trends. This is getting increasingly shaped by online conversations instead of traditional advertising. It can be stated that the food sector is facing rapid disruption, and this technology has a lot of potential in it (Chiu et. al. 2014).
Generally, at supermarkets, many people face the problem of empty shells because the retailers face trouble in identifying the products that the consumers most need. Therefore, by identifying this challenge and the urge to come up with a solution, Morrisons, a supermarket in the United Kingdom, has started using artificial intelligence technology to drive sales by stocking its stores. About driving efficiency and enhancing customer service Morrisons has deployed a system that uses artificial intelligence technology to predict what inventory is needed at different company stores. This artificial intelligence algorithm is a useful technology to reduce the gap on shelves (Giaconia & Chamas, 2022). The algorithm can easily predict when a particular product will be in high demand and whether the store is stocked accordingly.
From the above analysis, it has been identified that different types of businesses operating in different industries efficiently adopt this specific technology to resolve their business problems and the problems facing consumers. The working of artificial intelligence technology is different per the issue, providing numerous advantages to businesses (Chien et. al. 2020). Based on this evaluation, I feel technology has attracted much attention in the last few years. As the application of this technology is increasing in every industry, I feel that artificial intelligence is the future of various businesses as it is changing the world for the better. However, I feel that it is also evident that a variety of risks and challenges are also associated with this technology, such as consumers’ privacy, biased programming as well as danger to employment. Technology is replacing human jobs and their manual work, threatening their employment. Therefore, companies must also deal with this issue while acquiring the benefits of artificial intelligence. However, considering the future of artificial intelligence, I believe this will transform how businesses are conducted presently. This technology is starting to make what was once called impossible, for example, driverless cars.
Conclusion
In conclusion, it can be stated that this technology will certainly be a part of the future because as this is developing, the world will see new business applications, start-ups, the consumer uses and the creation of some new job opportunities. The application of this technology in business these days is someone making the business functions and work process easy, which is beneficial.
References
Borges, A. F., Laurindo, F. J., Spínola, M. M., Gonçalves, R. F., & Mattos, C. A. (2021). The strategic use of artificial intelligence in the digital era: Systematic literature review and future research directions. International Journal of Information Management, 57, 102225. < https://www.sciencedirect.com/science/article/abs/pii/S0268401219317906>
Burr, J., (2023). 9 ways to use AI in our products. [Online]. Accessed through: https://blog.google/technology/ai/9-ways-we-use-ai-in-our-products/#:~:text=The%20AI%20behind%20Google%20Maps,your%20world%20every%20single%20day Accessed on: 20th March, 2023.
Chien, C. F., Dauzère-Pérès, S., Huh, W. T., Jang, Y. J., & Morrison, J. R. (2020). Artificial intelligence in manufacturing and logistics systems: algorithms, applications, and case studies. International Journal of Production Research, 58(9), 2730-2731. < https://www.tandfonline.com/doi/full/10.1080/00207543.2020.1752488>
Chiu, C. M., Wang, E. T., Fang, Y. H., & Huang, H. Y. (2014). Understanding customers’ repeat purchase intentions in B2C e‐commerce: the roles of utilitarian value, hedonic value and perceived risk. Information systems journal, 24(1), 85-114. < https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1365-2575.2012.00407.x>
Enholm, I. M., Papagiannidis, E., Mikalef, P., & Krogstie, J. (2022). Artificial intelligence and business value: A literature review. Information Systems Frontiers, 24(5), 1709-1734. < https://link.springer.com/article/10.1007/s10796-021-10186-w>
Future Digital Finance, (2023). HSBC. [Online]. Accessed through: < https://netfinance.wbresearch.com/blog/hsbc-artificial-intelligence-strategy-to-beat-money-launderers> Accessed on: 20th March, 2023.
Giaconia, C., & Chamas, A. (2022). GAIA: Great-Distribution Artificial Intelligence-Based Algorithm for Advanced Large-Scale Commercial Store Management. Applied Sciences, 12(9), 4798. < https://www.mdpi.com/2076-3417/12/9/4798>
Howarth, J., (2023). 57+ Amazing Artificial Intelligence Statistics (2023). [Online]. Accessed through: https://explodingtopics.com/blog/ai-statistics Accessed on: 20th March, 2023.
Worldwide Business Research, (2023). How Vodafone is Using Data and AI to Cut Costs and Boost Procurement Transparency. [Online]. Accessed through: < https://procureconmarketing.wbresearch.com/blog/vodafone-data-ai-cost-procurement-transparency> Accessed on: 20th March, 2023.
Appendix
Company background
| The company is the largest subsidiary of Alphabet Inc. and was founded in 1998. | |
| HSBC | This is a British multinational bank and financial services holding company that serves worldwide. |
| Vodafone | Vodafone group plc is a British telecommunications company founded in 1991. |
| Sainsbury | It is the second-largest chain of supermarkets in the UK, founded in 1869. |
| Morrison’s | Morrison’s is the fifth-largest supermarket chain in the UK and is founded by William Morrison. |
Assignment 3: Group presentation: Future of Manufacturing
Introduction
This presentation is based on how adopting technology can improve a business organisation’s performance and productivity. For this reason, the topic of the future of manufacturing has been chosen, and it is further bifurcated into different tasks, such as the evolution of the industry and the adoption of cloud computing in automobile manufacturing.
Evolution of chosen industry
The process related to manufacturing changed dramatically in the 18th century when products were no longer handmade, and machines were used instead of that. As the manufacturing places factories started growing bigger and businesses were able to spend more money on producing goods, the process became more sophisticated. The use of interchangeable parts and the mechanisation of production meant that manufacturing goods became easier and the entire process could be more cost-effective (Bottani & Vignali, 2019). The scientific and technological evolution has helped manufacturers streamline their production of processes, delivering high-quality products and innovating at a faster rate.
Industry segment and likely impact of technology dynamics
Considering specifically, the automotive manufacturing industry comprises the ability of organisations and companies involved in designing, developing, manufacturing, selling, marketing, modifying, and repairing motor vehicles. The Automotive industry is considered one of the world’s largest industries in the context of revenue. The use of human-machine interface, machine learning, artificial intelligence and the internet of technology are some of the crucial technological trends in the automotive manufacturing industry. These technologies strengthen the use and development of various vehicles, including driverless and electric cars (Sarfraz, Hong & Kim, 2021). With the use of technology, the manufacturing of automobiles has become easier and has reduced the cost of production to some extent by increasing the overall production volume.
Firm and area of improvement
Toyota is one of the most well-recognised companies operating in the automobile manufacturing industry that develops and manufactures automobiles and related products, including vehicles and engines. The company is recognised for manufacturing high-value cars, vans and trucks that efficiently set the standard for durability and long-term receive value. The company is a Japanese multinational manufacturer producing around 10 million vehicles annually. However, the company is dealing with the problem of building 10.6 million cars in 2023 (Kelsall, 2023). The reason behind this is the continued supply chain issues and the increasing global cost that is leading the company to struggle to achieve its ambitious manufacturing target. The supply chain issue is one of the key improvement areas of the company, which needs detailed and strong attention because it is creating numerous challenges ahead.
Potential issues and suggestions
The suggested way for technology that Toyota can adopt is cloud computing. However, the company uses various technologies in its business process. Still, it can focus on adopting cloud computing specifically in the supply chain management in the most effective process (Williams, 2010). the influence of technology in supply chain management can be best considered and seen in bringing the AI and cloud system altogether. This uses the market indicators and past trends to attain various processes, such as powering the automation process and getting real data regarding shipments. However, the potential issues associated with this technology or that can arise from this technological adoption involve privacy-related risks. Therefore, to deal with this problem, the potential suggestion for the company is to utilise encryption, focusing on safety and data security at every level as well as ensuring the safety of the supply chain and confidential information.
Another risk or issue is the complex application or the lack of understanding (Novais, Maqueira, & Ortiz-Bas, 2019). To deal with this problem, the suggestion is to train the team members or the supply chain team members so that they can easily understand the new concepts and make them aware of the same.
Conclusion
Based on the presentation, it can be summarized that the implementation of technology can prove beneficial for Toyota as it can help improvise the overall supply chain management issues. However, the problem of this technological adoption can be dealt with by training the team members, developing a sense of confidence and emphasising safety, security and data confidentiality at every stage.
References
Bottani, E., & Vignali, G. (2019). Augmented reality technology in the manufacturing industry: A review of the last decade. Iise Transactions, 51(3), 284-310. < https://www.tandfonline.com/doi/full/10.1080/24725854.2018.1493244>
Kelsall, H., (2023). The Biggest Problem with Toyota’s Plan To Build 10.6 Million Cars In 2023. [Online]. Accessed through: < https://www.hotcars.com/biggest-problem-with-toyota-2023-car-production-plan/> Accessed on: 20th March, 2023.
Novais, L., Maqueira, J. M., & Ortiz-Bas, Á. (2019). A systematic literature review of cloud computing use in supply chain integration. Computers & Industrial Engineering, 129, 296-314. < https://www.sciencedirect.com/science/article/abs/pii/S0360835219300701>
Sarfraz, M. S., Hong, H., & Kim, S. S. (2021). Recent developments in the manufacturing technologies of composite components and their cost-effectiveness in the automotive industry: A review study. Composite Structures, 266, 113864. < https://www.sciencedirect.com/science/article/abs/pii/S0263822321003251>
Williams, M. I. (2010). A quick start guide to cloud computing: moving your business into the cloud. Kogan Page Publishers. < https://books.google.co.in/books?hl=en&lr=&id=XHVYIziE3tgC&oi=fnd&pg=PR3&dq=Williams,+M.+I.+(2010).+A+quick+start+guide+to+cloud+computing:+moving+your+business+into+the+cloud.+Kogan+Page+Publishers.+&ots=7Vj3WvDXok&sig=UJ6ouyOmP0u3p9uxsBxIpyjjZYc&redir_esc=y#v=onepage&q=Williams%2C%20M.%20I.%20(2010).%20A%20quick%20start%20guide%20to%20cloud%20computing%3A%20moving%20your%20business%20into%20the%20cloud.%20Kogan%20Page%20Publishers.&f=false>
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