Charlesthompson's Weblog

Benefits of Use of Technology in Sports

charlesthompson — Sat, 30 Apr 2011 11:13:29 +0000

Technology has brought about a significant change in the world of sports. In the earlier days, whatever decision was made by the match officials was considered the last word. Despite the efforts made by the sports governing bodies through out the world, some mistakes are still existing. The technology tries to remove the element of human error in the sports. Today, in the world of sports, technology has become a part and parcel of the entire event. Technology is also useful in broad casting the sports events through out the world at the same time. The use of technology in sport is aimed to increase speed, competitive edge and spectator interest.

The application of technology for the sports can be classified broadly in two areas:

Sport specific application, specially in the case of sports equipments
The technological advancements in sports which are considered to be path breaking

In the modern era of sports, technology plays an important role in training and competition. This has been possible through various valuable additions, like, creation of new sports, modern equipments, modern facilities used for conducting the sports, the equipment used by the sportsman, safety part of the equipments, the training support, computers and so on.

The techniques used in one game may not fit the other one, like the umpire decision review system, hot spot, hawk eye, etc., used in cricket may not be suitable for foot ball.

There are some arguments against the use of technology in sports mainly because it slows down the game and high costs of these techniques, which makes it unaffordable for some sports governing bodies.

Types of Technologies Used in Manufacturing Industry

charlesthompson — Fri, 29 Apr 2011 11:13:12 +0000

Today, most of the products manufactured use various types of technologies in the process of manufacturing. The usage of high-tech machinery increases the accuracy and speed of manufacturing. This also lowers the cost of production.

There are different types of technologies used to manufacture a product. Some of the techniques are here under:

RFID:
RFID is an excellent business tool that helps manage supply chains, increase margins and profits, and decrease costs. RFID system consists of a radio-enabled device that communicates with a tag or label, which contains an embedded single chip processor and antenna.
Implementation of RFID technology in manufacturing and distribution environments can deliver:

Smoother-running business environments
Increased input and productivity
Reduced costs, leading to more competitive pricing
Shorter order cycles
Faster shipping
Better inventory management
Reduced labor costs by reducing the workforce needed for tracking and inventory management
Increased revenues
Better customer service

Computer-integrated manufacturing (CIM):
Here, computers control the whole production line. Best example is, in the production of cars robots undertake much of the work, reducing the need for labor.

Artificial Intelligence (AI):
AI enables information integration for decision making from conceptual design, engineering, planning, scheduling, fabrication, testing, shipping, and customer service. Expert systems, artificial vision and voice recognition also comes under Artificial Intelligence.

Computer-Integrated Manufacturing (CIM):
Computer-Integrated Manufacturing is an overall process that stresses the goals of computer use for factory automation.

Benefits of CIM systems include:

Increased efficiency by simplifying the work by the process of automation.
Improved utilization of production facilities.
Reduced investment in production inventories with the help of Just-In-Time practices.
Improved customer service.

Use of biotechnology in pharmaceutical manufacturing:
With the use of biotechnology many products like human insulin, growth hormone, human blood clotting factors etc., are produced by using bacteria. Today many pharmaceutical companies are producing variety of drugs based on biotechnology.

Benefits Of Technology in Medicine

charlesthompson — Thu, 28 Apr 2011 11:05:02 +0000

Personal computer, Internet and wireless communications revolutionized the medical profession. With the help of these technologies doctors will be able to treat larger group more easily and effectively than ever before. A doctor can also maintain the track record of a patient in the data base of his PC.

A researcher at the Stevens Institute of Technology in New Jersey has created breakthrough new medical technology based on sound waves. The use of sound for healing is considered a branch of vibrational medicine. But this new technology does something different. It’s called time-reversal acoustics. When it commercializes, it allows doctors to see inside the patients’ bodies, conduct non-invasive surgeries and pinpoint the destruction of tiny tumors or kidney stones, all without a single cut from a scalpel.

Another type of technology used in medicine is Nano technology. It is employing of nano particles to deliver drugs, heat, light or other substances to specific types of cells. This technique reduces damage to healthy cells in the body and allows for earlier detection of disease. Buckyballs a type of nano particles are used to trap free radicals generated during an allergic reaction and it blocks the inflammation that results from an allergic reaction.

Biotechnology is also used in the medical field to develop various types of low cost drugs that cures many diseases.

Computers are the excellent means for storage of patient related data. Computers can efficiently keep track of prescriptions and billing information. Medical journals, important medical documents, research and diagnosis papers and reference books can be stored in an electronic format. Many of the modern-day medical equipment are enabled with small, programmed computers. Computer software is used for diagnosis of diseases. Modern methods of scanning and imaging are largely based on the computer technology. Medical professionals can communicate with each other with in minutes, even though they are from different countries via internet.

Medical field is the only field which can use the technology in both ways i.e., in a positive and in a negative way. Usage of technology can create wonders for human welfare at the same time can destroy the humans. It is very easy to misuse the medical technology.

Benefits Of Technology For a Business

charlesthompson — Wed, 27 Apr 2011 11:02:22 +0000

Technology plays an important role in the functioning of every business. It provides the tools on which a company will run. With the introduction of new communication technologies, the use of computers and Internet, enabled the business to do its operations more easily. It can be said that without technology, many businesses would no longer be able to function. It will take lot of time, efforts and huge amount of resources for doing basic functions of the business without using the technology.

Benefits:

Track Information:
Generally to track the information the business uses a business accounting software package. The information can be exchanged with in the organization with the help of intranets and data can be exchanged electronically which in turn helps the managers to review the information. Business software allows electronically transferring of information which is used to enhance their decision-making process and make important changes to improve its financial position.

Mobility is improved:
Wireless information technology and many personal digital products have allowed companies to improve the mobility of its managers and employees in the business environment.

Potential:
Information technology helps the business to develop a computer program that is tailored according to the needs of the business to meet the current business operations. These customized programs allow companies to create business technology using current consumer information technology and it gives the company a competitive advantage.

Increase Sales Opportunities:
The increase in the sales can be achieved by placing ads in the websites which usually operate 24/7 through online sales. Companies can create a virtual storefront that is always open and available to consumers.

Advertising Strategies Are Developed:
Companies are using information technology and websites as a new advertising strategies for their business. Social networking websites have proved to be an effective method to reach the younger generation. Companies can also display their ads on third party websites.

The business uses technical tools like Land line telephones, cell phones, smart phones, video and web conferencing, social networking sites, fax, desktop, laptop, software, browsers, internet service provider, E-mail etc.,

Although there are number of benefits a business has by using the technology, there are some downsides. According to the United Nations University, wide usage of technology has led to increased dependency. In addition, according to the Small Business Bible, the advent of technology has led to a decline in the skill level of the end users.

Benefits of Information Technology in Banking Sector

charlesthompson — Tue, 26 Apr 2011 10:57:46 +0000

Apart from doing traditional business like collecting the deposits from the public and lending the money to individuals or organizations, banks now-a-days provide services to all types of customers like individual account holder and company accounts and also to the non customers. The range of services offered differs from bank to bank depending mainly on the type and size of the bank.

Information Technology enables new product development, better market infrastructure, implementation of right techniques for control of risks and helps banks to extend their markets geographically. Internet has emerged as an important medium for delivery of banking products and services.

E-Banking:
E-banking was introduced in UK and USA in 1920s. It is the process of performing banking activities through the internet. The e-bank offers following services to the customers:

Mobile Banking:
With increase in usage of mobile phones and cellular services, several banks have introduced mobile banking which allows customers to perform banking transactions using their mobile phones through internet. Mobile banking is very helpful to people who travel frequently and enables them to keep track of their banking transaction.

ATM (Automated Teller Machine):

It provides the customers with facility of withdrawing the money 24 hours a day, 7days a week through their Debit cards.
Brings down “Cost of Banking” for the customer over a period a period of time.
On-line purchase of goods and services including online payment for the purchases done.
Credit cards and Debit cards
E-Cheques
Telephone Banking
Electronic Data Interchange (EDI)
DeMAT Accounts
Electronic Funds Transfer
MICR Cheques

Information technology is the major advent in the field of technology which is used for access, process, storage and dissemination of information electronically. So, banks are efficiently using this technology in their operations and providing a wide range of services to their customers.

Types and Benefits of Information Technology

charlesthompson — Mon, 25 Apr 2011 10:54:23 +0000

Technology today is used in every business to improve the efficiency and competitiveness of the business. Due to the development of IT, different processes in the business are very easy to perform now compared to the past, this is achieved by replacing the typewriter, books, letters, envelopes, the post, address book, etc. with a single device called Computer.

There are many types of information technologies available which can be applied in a business to get benefits. They are:

Computer-aided manufacturing (CAM):
In this system the machinery is controlled by the computer. This reduces labor costs. It is more accurate and faster and has the ability to work at any hour of the day.

Computer-integrated manufacturing (CIM):
Here, computers control the whole production line. Best example is the process of production of cars where robots undertake much of the work, reducing the need for labor to perform boring, routine tasks.

Computer-aided design (CAD) :
Computers are used to help design products with the help of computer generated models and 3D drawings. These are called as prototypes.

E-commerce:
In this type the business functions, like, selling and buying are done through the internet, it helps in business to enlarge its market. The business is kept opened 24 hours a day with the help of e-commerce. The Internet also helps in recruitment purposes. Job vacancies can be advertised which are targeted to the right candidate. The cost of advertising through this is less when compared to print media.

This information technology helps the business in following ways:

Increases the productivity
Helps in scheme development
Planning for the resources
Ensures smooth running of business
Improves the quality of service or product
Reduce the costs and avoids wastage of resources

Finally computers and technology makes the businesses to function more effectively, run efficiently and helps to plan and manage time, money, expenses, debt, credit, capital, investments etc.

Types of Technologies for Education

charlesthompson — Sun, 24 Apr 2011 10:46:30 +0000

Educational technology helps in study and practice of learning and improving performance by creating, using and managing appropriate technological processes and resources. The term educational technology is associated with instructional theory and learning theory. Learners and teachers are the people who employ educational technologies to explore ideas and communicate meaning.

Many schools are implementing new technologies in the classroom which make the learning process more effective and more entertaining. There are various types of technologies currently used in classrooms. They are:

Class website: By designing a proper web page for the class room, teachers can post homework assignments, student work, famous quotes, trivia games, and so much on the website. In today’s society, children know how to use the computer, hence, they can easily access the information posted on the web site.

Class blogs and wikis:
Blogs allow students to maintain a running dialogue, such as a journal, thoughts, ideas, and assignments. Wikis allow multiple members of the group to edit a single document and create a truly collaborative and carefully edited and finished product.

Wireless classroom microphones:
Normally children make lot of noise in the class room. With the help of microphones, students are able to hear their teachers more clearly. This technology is useful for both children and teachers as it protects the teachers from speaking loudly and damaging their vocal cords.

Mobile devices:
Mobile devices such as clickers or smartphone can be used to provide the possibility for professors to get feedback on their lectures.

White Board:
White board is the combination of computer screen and the projector, it is the basic type of technology used in schools that makes education an interactive process. Movable objects, sounds, and pictures can make the lessons as well as teaching interesting and easy to understand.

Projector:
A projector is again one of the types of technology that has wide applications in the classroom. Teachers can show students many documentaries, short study films, or power point presentations. This is one of the types of technology used in psychology, biology, chemistry, engineering, etc.

Sound Amplifiers:
Sound amplifiers are very useful and are widely used in big classrooms. Sound amplifiers are useful as they make the teacher audible to all the students.

Software and Computers:
With a computer in the classroom, teachers can demonstrate a new lesson, present new material, can explain to the students how to use new programs, and show new websites. Students can access books, notes, dictionaries, encyclopedias on PCs with the help of Internet technology and special educational software.

All the above technologies together have totally revolutionized the whole education system in the modern world.

Know About Just In Time Supply Chain Management

charlesthompson — Sat, 23 Apr 2011 12:01:50 +0000

In the supply chain process, just in time (JIT) refers to the inventory strategy that is useful in getting the return of investment (ROI) and improves quality and efficiency through reduction of process inventory and the related costs. The company which used just in time technique for the first time is Ford Motor Company where the raw materials are not kept in storage but they are sent directly to the production site and this technique was later used by the Japanese automaker Toyota in the Toyota Production System.

Just in time technique uses a series of signals referred to as Kanban. These can be visual signals, but are generally tickets, which tell production processes when it is necessary to make the next part. When the stocks in the warehouse reaches to the safety level, new orders should be placed. JIT helps to maintain space in the warehouse and also decreases the costs. The adaption of the just-in-time (JIT) inventory principles by the companies makes production operations more efficient, cost effective and customer responsive. Companies can have the competitive advantage when compared to the competitors by effectively implementing JIT principles in the supply chain. JIT reduces the set up time for the company in which it is implemented which allows the company to reduce or eliminate inventory for change over time. With the help of JIT, flow of goods from warehouse to shelves also improves and it also increases the emphasis on the supplier relationships.

One drawback of Just in time is that the re order level is determined by the previous demand and if the demand for the inventory rises above that amount for the production of final products, then inventory will be depleted a lot faster than usual and might cause customer service problems.

How To Develop a Lean Supply Chain Management

charlesthompson — Fri, 22 Apr 2011 12:00:45 +0000

Companies have large number of areas in their supply chain processes where waste can be identified in terms of time, money and inventory. Lean Supply Chain Management is a processes used by the companies to reduce and eliminate the wastes and non value added services in the supply chain process. Value added activities are those activities that increase the value of the product down the supply chain. The purpose of a lean supply chain is to meet the 5R’s of logistics, namely, inventory, that is the right product in the right quantity in the right condition at the right place at the right time.

To create a lean supply chain companies should

Practice a lean supply chain management which reduce their procurement function so that each vendor has one point of contact, one contract and offers one price for all locations.
Companies have to look at the routing, billing of the materials purchased and the manufacturing processes where there is a possibility of making improvements.
Companies should assess for gaps or redundancies that create time, which is a key waste.
Warehouse processes should be examined to find areas of eliminating waste of resources and non value added steps.
The companies should look at their transportation where they can improve the process.
Incorporate technology, such as supply chain execution technology, as part of the process improvement.
The firm should focus on the entire supply chain process for identification of non value added activities rather than focusing on transportation or warehousing.
Collaborate with the supplier and demand performance from the supplier.
Streamline the process for unnecessary complexity and unnecessary suppliers and service providers.
Get ready for the changes in the lean supply chain regarding to the changes in the technology used in the process.

Lean supply chain management requires a business to observe the processes carefully to remove the wastage which ultimately helps the company to use its resources optimally, increases the company’s competitiveness and also improves the profitability of the company.

Know About The Strategic Supply Chain Management

charlesthompson — Thu, 21 Apr 2011 12:00:23 +0000

The supply chain of a business functions at three levels strategic, operational, tactical. At the strategic level, business makes high level strategic decisions which reflects the over all corporate strategy that the business is implementing. The strategic management decisions taken by the business covers the components of supply chain like product development, customers, manufacturing, vendors and logistics. Strategic decisions also involves decisions regarding information technology chain operations and make or buy decisions.

Product Development:
When the product life cycle matures or there is decrease in the sales then there is a need for developing the new product. Generally senior managers defines the strategy for developing the new product which is offered to the customers by the company. These strategic decisions may include the need to acquire another company or sell existing businesses. While making decisions for the product development, the decision makers should also keep the company’s over all objectives in the mind.

Manufacturing:
Based on the forecasting and sales estimation, the company should take the strategic decisions regarding manufacturing and the technology to be used in the manufacturing. The decisions involves whether to build new manufacturing units or to expand the existing units. The environmental factors influence the strategic decisions with regards to the manufacturing.

Customers:
Company while taking strategic decisions on products to be manufactured has to consider the issues like the market segment, potential buyers in the segment, and the price that the customer is ready to pay for the product or service.

Suppliers:
Companies should be very conscious while taking the strategic decisions on the suppliers or vendors because reducing the amount spent on the purchases has the direct effect on the profit of the organization and at the same time the company’s policies regarding the quality can’t be ignored.

Logistics:
The strategic decisions on the location of the manufacturing units, warehouses, distribution centers and mode of transportation and also logistic functions has greater effect in the success of the supply chain. The design and operation of the network has a significant influence on the performance of the supply chain.

The strategic decisions are the important decisions for a company as they determine the company’s supply chain direction and these decisions are to be taken in such a way that they help in the achievement of over all objectives of the company.

By analyzing all the above factors, one can conclude that the strategic supply chain management has a key role to play in a business success.