| |AUGUST 202019THOUGHT CENTRALast is never an history ­ at least in Business. Trends and projections are normal. Present day reliance on data analytics too reflects the same ­ from buying behaviours to purchasing powers to predicting future, across economies and sec-tions of economies. Thanks to computing power, segmented micro-analysis is today possible and expected to assume larger signif-icance in the realm of Business.Reverse protectionism seen today is to be assumed natural. Considering Global trade as a closed loop, in the Cycle of Trade develop-ing is akin to developed at some point of time. This brings economies at equal footing, elimi-nating need for WTO interventions, existence of which is supernatural today.AGRICULTURE TO IOT ERAContribution of agriculture still is significant to GDP. Thanks to Industrial revolutions, mechanisation has helped reduce depen-dency of population on Agriculture ­ First Shift. Economy moved from Agro to Industrial, while capacity was the king, and out put largely dependent on Labour. As industrialisation grew and the World going through few recessions, brought in perspective the need for Quality. In came the Consumer Era.Consumer needs and wants for quality products and services dictated outputs. Need for controls on human interventions to eliminate process errors was realised. This brought in scientific management and process control based on statistical approach, relevant forever. Capability studies continue to determine quali-ty levels expected and people can think of defect levels in PPTs (Parts per Trillion). DPMOs (Defects per Million opportunities) is widely used, especially is safety critical industries. QMS AND CPAAs quality superseded quantity, management systems became important over production. Globalised trade necessitated uni-form quality standards ­ ISOs came into existence. Automotive industry felt insufficiency in ISO and brought in QS standards. As technology evolved and consumer protection laws became strin-gent, both ISO & QS have evolved and have assumed their new avatars ISO 2015 and IATF. Similar to automotive, there are many industry specific standards like FDA, API, AS9100, etc...CPA (Consumer Protection Acts) have played vital roles in shaping such standards to eliminate human hazards to the possible extent. Failures do happen; however, traceability has ensured con-tainment and protection. Business World transformed from being reactive to proactive and tries to become predictive through FMEAs (Failure Mode Effect Analysis) and Risk analysis. Statistics and Data Analytics help in these endeav-ours, though success may vary due to extraneous factors.INFORMATION ERA IT revolution made consumers spoiled for choices, alongside eco-nomic and industrial growth. Information available at fingertips made Consumers better educated and knowledgeable about prod-ucts/ services making them choosier. Quality became non-nego-tiable and given. Consumers started yearning for more than quali-ty and availability of information made it easier for to analyse and assess options.LPG ­ Liberalisation, Privatisation and Globalisation acceler-ated onset of Information Era. It opened Global Markets for Indian IT Professionals and Organisations. This brought in new breed of consumerism and spending culture as affordability enhanced. Mi-cro segmentation and positioning of products and services became important to satisfy this new generation.Traditional industries, though are drivers of economy, became driven by IT, leveraging of which brought in better control of Busi-ness and Management. Tools like ERP through BPR (Business TRACKING SHIFTS ­ TRENDS THAT MATTER Dr. Nithyanandan Devaraaj, CEO ­ Foundries, CRI GroupDr. Nithyanandan Devaraaj, CEO ­ FoundriesP
< Page 9 | Page 11 >