Milestones - Ops Strategy

Models, Analytics, Strategies. Numbers and graphs whizzed by as I sat at the MILESTONES event listening to the talented teams presenting their analysis on how to improve the performance of Suguna chicken in the poultry industry. And to judge the event, we had one eminent alumni, Rakesh Rajora, Vice president, Global Operational excellence lead at Accenture.

Suguna Chicks from NITIE, Khushboo and Pragya, ( the only all women team) presented a deeply thought out sensitivity analysis on how the price of the feed affects the cheating behavior in the farmers and why the incentive schemes should be modified to alter that behavior. Team Famous from FMS, Abhinav & Ayesha followed next with their well calculated regression models proving 12 month cyclicity. As Rakesh pointed out at the end, their strategy revolved around 2 anchoring points 1) long term contracts with suppliers of feed and 2) long term contracts with poultry farms.

The team from ISB of Biya & Ashwin followed next with their great out of the box ideas. They suggested buffering through relying on processed chicken, avoiding prize volatility through short futures contracts and penalty for farms with high mortality rates. They also presented an alternative ownership model which shall help reduce the agency problem in this industry.

Matching the import to demand of processed chicken with a 13 week lead time shall give 40% improvement in profits - Aditya Gupta and CPT from IIMB proved this point and many others as they presented on issues in pricing, incentives and supply chain. They talked about the need for cluster farming to reduce expenses in transportation and supply chains.

After the round of graphs and models, it was a welcome change to see the colorful and attractive slides from Gopal Kapoor and Akash Gahni from MDI. They had their share of graphs also but they looked nicer in their presentation.

During all these presentations, we had a great amount of learning as Rakesh gave his insights on various concepts such as Swarm intelligence, CRM, ERP, SCM, floatilla, soft selling etc. He also talked about the importance of talking to the people who are actually in the field to take their inputs on the subject. As a concluding remark, he explained the importance of applying the theoretical frameworks we learn in the classes to the actual field issues and of continuous learning. I am sure the participants got great value as they got a new mentor in Rakesh.

The out of the box thinking presented by the team from ISB fetched them the first prize and the team from IIMB followed next to win the second prize. All in all, this was a wonderful event which provided great return on time spent :)

Operations Simulation Game

2:30 in the noon and you would expect people to be enjoying their siesta. Guess what, you were wrong!!! The Operation simulation game began in earnest and witnessed overwhelming participation, with over 53 teams taking part in it. L-12, the venue for the event was jam-packed, with eager participants filling every nook and corner of the room. There were couple of teams of exchange students as well who took part in the game.

An interesting production problem about predicting demands for two products A and B and accordingly deciding the production schedules was presented to the participants. The game was held in a dynamic format with each of the teams planning out their production schedules for a single month only after which the actual demand for that month was informed to them. The goal was to decide the firm’s production strategy for the whole year while keeping the costs at a minimum. With laptops not being allowed for the game, people had go back to the old-fashioned way of punching numbers into their calculators and furiously scribbling on sheets of paper.

The interactive format kept the teams on their toes as they had to come up with their production schedules within short time frames of 3-5 minutes. Competition was intense as hardly anyone took a breather for 1 ½ hours, the entire duration of the event. The game culminated on a high note after 12 intense rounds of production planning, with the teams eagerly waiting for the results which are to be announced soon. Without doubt, all the operations enthusiasts experienced what the game promised to them, “Happy Planning”.

IIMB presents its business fest Vista!

Emerging Economies. Emerging Realities.

 IIMB's business fest Vista is schedule for October 10th, 11th and 12th this year.  Through its plethora of events, Vista will explore the Emerging Economies phenomenon and more importantly, will focus on the realities that are emerging.

So what exactly is the theme all about?

 The rise of  economies in the Asian and South American continents was much touted as the beginning of the end - of the hegemony of the global superpowers like the United States. These countries caught the imagination of the behemoths in various industrial sectors, which in turn set up shop in these fledgling economies. A wave of acquisitions and innovative corporate structures emerged as these economies grew from strength to strength.

However, the picture is not quite so rosy today. The emerging economies are plagued with problems, and are struggling to live up to their names. 

Where does Vista come in?

 ‘Emerging economies. Emerging Realities’ is the theme of the 2008 edition of Vista, the business fest of IIM Bangalore. The theme explores the beginnings of the ‘Emerging Economies’, their ascension to global importance and now, their struggle to keep their exalted positions in the midst of a worldwide upheaval.

 For India, this reality check is of paramount importance. With unprecedented economic growth coupled with the recognition from the powers that be, India seemed to be growing into a force to be reckoned with. The realities today, however, point elsewhere… the spectre of inflation and the instability of the political system have slipped a cloak of gloom on its once - splendid future. Will India emerge from this fog? Will it regain its former resplendence?

These, and more, are some of the questions that Vista 2008 will seek to answer. 

Keep reading this blog for important updates on Vista, inside info on the Vista team and the flurry of activities leading up to one of the biggest business fests in this part of the world!!