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Business Process Optimization
Tags :
business process optimization, business information technology, business process consulting,
Industry :
IT Services
Functional Area : Business Processes |
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About "Business Process Optimization" topic:
For years organizations have used various tools and business intelligence techniques to analyze data about completed business processes and the effectiveness of their transactions. While these approaches have gradually improved from using data that is days and weeks old, to near-real-time information, the fact remains that managers are still analyzing business results in retrospect. We will be discussin on how to combine business activity monitoring and analysis capabilities with business process management which translates into business optimization: organizations are able to transcend reactive tactics and engage strategic, analytical and proactive management.
1 trends
, 6 insight
, 7 debates
, 2 idea contests
, 1 question
on topic: "Business Process Optimization"
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Originally presented at Reliability 2.0 by Henry Ellmann Reliability started with Physical Assets, and now spreads into all business endeavours some decades ago in the Maintenance environment. Lately it is being realized that expanding the Reliability concept into other –or all– business areas, major benefits can be achieved. Half a century ago, when Quality issues were introduced, (Juran, Demming) at first “quality” was thought of as the “quality of a product”. Soon the “quality” concept grew into “total quality”, when it was realized that to achieve product or service quality, everything in the organization has to respond to the “quality concept”. Now a similar situation arises with the ...
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taranath joshi
| Commented
| 3 years ago
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Good article. A theoritical approach with a good mixture of TQM (Total Quality Management) concept, RCM (Resource Conservation Management) and of course Reliability. The reliability is always analysed on the basis of the criticality, be it a...
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Devi Kaladeen
| Commented
| 3 years ago
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Thanks for the referral. Reliabilty is an aspect of quality. Anyway I like the example above.
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varsha
| Commented
| 3 years ago
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Although the terms reliability and quality are often used interchangeably, there is a difference between these two disciplines. While reliability is concerned with the performance of a product over its entire lifetime, quality control is concerned...
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Insight: "Reliability Beyond Maintenance" deleted from your view.
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Yes
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Akinori Koyama
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"Yes"
| 1 year ago
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I have a robust ability in researching, conceiving, and developing winning business plans. As a chapter of the business plan in sight, I also develop thorough Sales and Marketing Plans accordingly. In addition to strategic management, I have...
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Debate: "I am a job-seeker ! I need your help if you can !" deleted from your view.
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Yes
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No
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George Varghese
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"No"
| 2 years ago
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Obama's visit has opened many field of co-operation and openings. We should wisely utilize the presence.
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SHRIKANT MANOHAR DANKE
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"No"
| 2 years ago
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Why it should affect in India?
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Debate: "Will Obama visit to India effects recruitment business in India?" deleted from your view.
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Yes, Software or consulting indulge in such will be helpful
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No it's easy
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Sujatha srivastava
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"Yes, Software or consulting indulge in such will be helpful "
| 2 years ago
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Yes nowadays the businesses are going more broader, which makes it difficult to maintain and track. So we need to take the support of softwares or other consultants who are specialized in this. This will help to develop and grow the business in a...
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M.B.MALANI
| Argues in support of
"Yes, Software or consulting indulge in such will be helpful "
| 2 years ago
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Technology changing every day so it is difficult to update all and high level technology is there so difficult to maintain because it require skill workers.
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Debate: "Is maintaining and updating business process difficult for industries?" deleted from your view.
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Simple idea on a language is not enough.
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No
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Er. Ratnajit Chakma
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"Simple idea on a language is not enough."
| 2 years ago
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Deeply Knowledge is very important in development sectors of technologies.
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Debate: "Simple idea on a language is not enough." deleted from your view.
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Unskilled management may learn to gain expertise over time.
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Skilled persons given the respective field of operation.
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Rajendran Mariagnanam Mariagnanam
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"Unskilled management may learn to gain expertise over time."
| 2 years ago
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If families are intact along with business then business will be intact. Self-centered families will be a bane on family business
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SHRIKANT MANOHAR DANKE
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"Skilled persons given the respective field of operation."
| 2 years ago
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Yes, skilled persons should gave first preference.
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Sheetal Jadhav
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"Skilled persons given the respective field of operation."
| 2 years ago
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According to your description given, if a family is starting business where they have no prior experience then its a bane, just because they think they all have invested in it they should also be part of the business. Getting skilled people to...
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Debate: "Family business, boon and bane." deleted from your view.
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User Friendly
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Developer Friendly
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Leena Pawar
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"User Friendly"
| 3 years ago
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Hi Vidya, I think a web designer should develop their design by keeping the user in mind. Because they are the one who are gong to use it. So it would be better if you develop something that is user friendly. Thanks :)
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Adarsh V Peter
| Argues in support of
"User Friendly"
| 3 years ago
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Designing for the web means designing sympathetically with the way people actually use the web, not how we think they should. You should be able to look at the home page of any site and figure out what the site is about within four seconds. If...
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Debate: "How should a Web/Graphic designer work? Please give your valuable feedbacks ;)" deleted from your view.
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Is it beter to go for Interface
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Abstract class
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Jigar Dinesh Mehta
| Argues in support of
"Is it beter to go for Interface"
| 3 years ago
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When you are designing an entity which can have more than one implementation, the goal is to concentrate on behaviour.So When you have a common implementation, use abstract classes, with which you can enforce an implementation hierarchy and avoid...
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Debate: "About OOPS" deleted from your view.
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Lets Analyze our Business Unit Business Management is a challenge in today’s corporate world; a number of business units are going down and other are fighting for survival. Reason is lack of environmental scanning and knowledge about organizational competency. Today’s era, business units are more focused on short term goals and immediate process. 1. Vision All great organizations are vision oriented. The leader should be visionary, the captain of the ship, the man who used to drive the organization. Vision directs the organization and point out exact destination point but vision should be practical. It’s always suggested by management philosophers; Visionary should be a neutral one who lo...
Insight: "Business Analysis" deleted from your view.
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Situation: You have just been promoted as a Project Manager. Your job is to ensure that you enable your project to run successfully without you. You have been given freedom to make systemic and proce...
Answer: "Make your self redundant?" deleted from your view.
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Nicholas Carr's article "IT Doesn't Matter" (Harvard Business Review, May 2003) challenges the value proposition for IT. He argues that as companies become more dependent on IT for their day-to-day operations, so the emphasis switches to managing availability, reliability and security. As such, businesses should manage IT as a commodity. Do you subscribe to the Carr view? Do you align IT with the business in a purely supportive role? But innovations within IT continue to create possibilities and options for businesses that did not exist before. But where IT engages the business, pro actively and as an equal, companies will be able to continue to deliver strategic advantage through IT. The following will be useful in assessing the level of business engagement: - to whom does the IT function report in your business? For example, the Board (where the CIO/IT director is a Board member), the CEO (who has a business development focus), the COO (who has a business operations focus) or the...
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The Chartered Accountants have engaged themselves in the audit of Insurance Companies since long. With the transition in the insurance sector, the horizons for their contribution have broadened. There has, emerged a king-size pool of opportunities that the Chartered Accountants can explore and apply their professional wisdom and experience to. The structure of an insurance company, generally, comprises the Operating Department, Administrative Department and the Finance Department. The Operating Department generally performs the basic functions pertaining to the designing of products, marketing thereof, servicing the insured, management of portfolio, etc. The Administrative Department looks after the day to day affairs of the company. The Finance Department backs the operations and administration of the company by accounting for the transactions, streamlining the flow of funds, materializing the management decisions, etc. The Administration Department as well as the Finance...
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Many companies are turning to a new kind of enterprise resource planning software. This new model is much more affordable, provides faster return on investment, is easier to implement across an enterprise, provides superior connectivity and is highly configurable. Browser-based, open-source ERP applications hold many advantages over the traditional legacy based software systems of the past. They are easier to modify and customize, for one. This ease of configurability opens up the door to agility - changing the software system to take advantage of new opportunities or changes in the market for optimal positioning. The software can change as quickly as the company can. This new type of ERP is not "open source" in the usual sense of the term. The meaning of open source for this type of application is that the source code is modifiable, but not available to the general public. It is modifiable by the provider or the individual buyer. This is advantageous to buyers with IT resources...
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Neural networks in financial engineering Neural networks have shown considerable successes in modeling financial data series. However, a major weakness of neural modeling is the lack of established procedures for performing tests for misspecified models, and tests of statistical significance for the various parameters that have been estimated. This is a serious disadvantage in applications where there is a strong culture for testing not only the predictive power of a model or the sensitivity of the dependent variable to changes in the inputs but also the statistical significance of the finding at a specified level of confidence. Rarely is this more important than in the case of financial engineering, where the data generating processes are dominantly stochastic and only partially deterministic. Partly a tutorial, partly a review, this paper describes a collection of typical applications in options pricing, cointegration, the term structure of interest rates and models of...
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