Constrat, the consulting and strategy consortium of Xavier Institute of Management, Bhubaneswar (XIMB), hosted its annual conclave-‘Stratonomics’. The theme for the conclave this year was ‘Digitization of value chain and Industry 4.0’. The panel of speakers included Mr. Debashish Mahapatro, CEO, Verve Consulting and MD, Eastbrook Landholdings; Mr. A Karthik, GM (Programs), Ashok Leyland; Head-Product Management (Trucks) and Mr. Sovit Biswal, Sr. Manager, Corporate Strategy and Planning, Tata Steel. The discussion was moderated by Dr. Sanjay Mohapatra, Professor of Information Systems at XIMB.
Dr. Sanjay Mohapatra initiated the discussion by speaking about web 4.0 and the role of students in the 4th web. The first speaker, Mr. Debashish Mahapatro spoke about technology making lives easier and illustrated this by stating an example of 3-D printing. He also spoke about the paradigm shift in technology and metamorphosis of conventional methods into new models. He mentioned about big data and the challenges faced in using and managing data. Mr. A Karthik spoke about the evolution of the three key drivers for digitization namely – Connection, Flexibility and Agility. According to him, Connections is about communicating which has seen a significant shift from a unidirectional medium to a bidirectional and accurately measurable one. He spoke of refinement of customer requirements due to this shift. Flexibility is ease of configuration in analytics. Agility is simulation and scenario planning in building a new architecture to link products, customers, services and dealership. Mr. Sovit Biswal started off with a video on how the world would evolve in the next 15 years and what impact technology would have on our lives. He spoke about digital strategy and industry 4.0 which included big data, cloud and augmented reality. He stated that there will be a lower energy price globe in the future owing to the advancement of technology in the field of energy.
The discussion was followed by a Q&A session and prize distribution to the winners of Consilium – Constrat’s white paper writing competition. The conclave concluded with a vote of thanks by Dr. Amar K J R Naik, Professor, Strategic Management at XIMB.
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