Quarter Life Crisis !!

It is when you stop going along with the crowd and start realizing that there are many things about yourself that you didn't know and may not like. You start feeling insecure and wonder where you will be in a year or two, but then get scared because you barely know where you are now.
You start realizing that people are selfish and that, maybe, those friends that you thought you were so close to aren't exactly the greatest people you have ever met, and the people you have lost touch with are some of the most important ones. What you don't recognize is that they are realizing that too, and aren't really cold, catty, mean or insincere, but that they are as confused as you.
You look at your job; and it is not even close to what you thought you would be doing, or maybe you are looking for a job and realizing that you are going to have to start at the bottom and that scares you.
Your opinions have gotten stronger. You see what others are doing and find yourself judging more than usual because suddenly you realize that you have certain boundaries in your life and are constantly adding things to your list of what is acceptable and what isn't. One minute, you are insecure and then the next, secure.
You laugh and cry with the greatest force of your life. You feel alone and scared and confused. Suddenly, change is the enemy and you try and cling on to the past with dear life, but soon realize that the past is drifting further and further away, and there is nothing to do but stay where you are or move forward.
You get your heart broken and wonder how someone you loved could do such damage to you. Or you lie in bed and wonder why you can't meet anyone decent enough that you want to get to know better. Or maybe you love someone but love someone else too and cannot figure out why you're doing this because you know that you aren't a bad person. One night stands and random hook ups start to look cheap. Getting wasted and acting like an idiot starts to look pathetic. You go through the same emotions and questions over and over, and talk with your friends about the same topics because you cannot seem to make a decision. You worry about loans, money, the future and making a life for yourself... and while winning the race would be great, right now you'd just like to be a contender.

We call it the "Quarter-life Crisis."

T1: Relationship between input, output and efficiency in our life

Macro Perspective

Mathematically speaking, Efficiency = Output/Input

Let me explain how, we can replicate the above simple formula in our real lives too.

Efficiency is a very important facet which we Indians generally ignore, we keep pumping more and more input, without checking the variation in output, and hence excess input in terms of time, energy, etc. is wasted, which we otherwise would have invested somewhere else.

We should actually try to measure our efforts and outcome thereof in terms of efficiency, and our endeavor should be to keep increasing the same.

In my opinion there are only two methods to increase our efficiency,

i)                    Increase the numerator (Output +)

ii)                   Decrease the denominator (Input -)

It to be noted that the limit of measurement of efficiency is between 0 to 100% (since it is a ratio or percentage to be precise)

Micro Perspective

Some finer points to explain above two methods:

-          The output parameter that is fixed is success or failure.

-          The input parameter that is fixed and constantly running (i.e. increasing the denominator) is time.  (It is to be noted that time is the most important parameter, having highest weight age in efficiency determination.  Einstein even proved time having a separate dimension altogether)

-          All mortals like us have to pass through above most important parameters.

-          Broadly, output is bi-dimensional or binary, i.e. either success or failure.

-          There are jargons like partial success or partial failure, juggling the efficiency between 0 to 100.

-          Input is multi-dimensional, i.e., time, energy (both physical, emotional), opportunity cost, etc.

Cases Studies

-          There are certain cases wherein output is so big that any amount of input considering successful achievement of output will make efficiency = 100%.

(Of course remembering time as a limited factor)

Ex: Successful achievement of one’s life objective. i.e. preparing and successfully achieving one’s goal of becoming an IAS officer.

(It is to be noted that generally life’s objective varies, during different phases of lifecycle. In such cases, input time is defined as phase duration time)

-          There are cases wherein output is fixed. So our endeavour in such cases should be to get the output in least amount of input/efforts and of course time.

Ex: Fixed monthly salary against a repetitive and learning stagnation job. In such cases our effort should be to get the output (salary) in least amount of efforts and office time. Extra time should only be devoted for learning or earning and nothing else.

-          There are cases wherein output is directly proportional to input. In such cases, identity the target output (as it is infinite) and act as per the same.

Ex: A practicing doctor etc. who may earn in proportion to his invested inputs i.e. time, however, he has to also look for balancing his other needs also.

WiTricity - Wireless Electricity

Our  forefathers marveled  at  the  invention  of  glowing  light  bulbs  by

Thomas  Edison  in  1879.  However,  to  us  21st  centurions,  the  light

bulb  is  nothing  out  of  the  ordinary.  When  computers,  cellphones,

laptops, iPods, etc. were invented our antennas tweaked. Now this is

what  you  call  invention!  However,  as  time's  progressing  we  are

getting used  to  these devices.  In  fact, charging all  these appliances

has become so very cumbersome.

 

Each  appliance  has  its  own  set  of  chargers,  and with  every  family

member owning their cellphones, the drawers are overflowing with all

sorts  of wires. How many  times  have  you wished  if  there  could  be

some way to do away with all the wiry clutter? When you are on the

way to work and your cellphone beeps in hunger for a battery charge,

haven't  you wished  for  your  cellphone  battery  to  get  'self  charged'.

Well your plight has been heard by doctor 'WiTricity'. 

        

What is WiTricity? 

WiTricity is nothing but wireless electricity. Transmission of electrical

energy  from one object  to another without  the use of wires  is called

as WiTricity. WiTricity will ensure that the cellphones, laptops, iPods

and other power hungry devices get charged on their own, eliminating

the need of plugging them in. Even better, because of WiTricity some

of the devices won't require batteries to operate.

 

 What's the Principle behind WiTricity? 

WiTricity  -  Wireless  Electricity,  these  words  are  simpler  said  than

done.  The  concept  behind  this  fascinating  term  is  a  little  complex.

However, if you want to understand it, try and picture what I state in

the next few lines. Consider two self resonating copper coils of same

resonating  frequency  with  a  diameter  20  inches  each. One  copper

wire  is  connected  to  the  power  source  (WiTricity  transmitter), while

the other copper wire is connected to the device (WiTricity Receiver). 

The  electric  power  from  the  power  source  causes  the  copper  coil

connected  to  it  to  start  oscillating  at  a  particular  (MHz)  frequency.

Subsequently, the space around the copper coil gets filled with nonmagnetic

radiations.  This  generated magnetic  field  further  transfers

the power  to  the other copper  coil  connected  to  the  receiver. Since

this coil is also of the same frequency, it starts oscillating at the same

frequency as the first coil. This is known as 'coupled resonance' and

is the principle behind WiTricity.

 

The Brain behind WiTricity? 

Prof.  Marin  Soljacic  from  Massachusetts  Institute  of  Technology

(MIT),  is  the one who has proved  that magnetic coupled  resonance

can be utilized in order to transfer energy without wires. What's even

more  interesting  is  how  he  came  about  this  idea. Soljacic,  just  like

any  of  us  was  fed  up  of  his  'low  battery'  beeping  cellphone  and

wondered  just  like  any  of  us  if  there  was  a  way  to  get  rid  of  this

'charging  problem'. However,  here  is where  the  difference  between

Soljacic and any of us comes in. He didn't just stand there wondering,

instead  he  tried  to  figure  out  if  there  existed  any  physical

phenomenon which could be of some help. He remembered Michael

Faraday's discovery of electromagnetic  induction  (1831) and used  it

to come up with WiTricity.

 

MIT's Experiment: 

In 2007, Marin Soljacic led a five member team of researchers at MIT

(funded by Army Research Office, National Science Foundation and

the Department of Energy) and experimentally demonstrated transfer

of electricity without the use of wires. These researchers were able to

light  a  60W  bulb  from  a  source  placed  seven  feet  away,  with

absolutely  no  physical  contact  between  the  bulb  and  the  power

source. 

The  first  copper  coil  (24  inches  in  diameter) was  connected  to  the

power source and  the second was connected  to  the bulb, and were

made  to  resonate at a  frequency of 10 MHz. The bulb glowed even

when  different  objects  (like  a wooden  panel) were  placed  between

the two coils. The system worked with 40% efficiency and the power

that  wasn't  utilized  remained  in  the  vicinity  of  the  transmitter  itself,

and  did  not  radiate  to  the  surrounding  environment. 

 

Is WiTricity a New Concept? 

No, this concept of wireless electricity is not new. In fact it dates back

to  the  19th  century,  when  Nikola  Tesla  used  conduction-  based

systems  instead  of  resonance  magnetic  fields  to  transfer  wireless

power.  Further,  in  2005,  Dave  Gerding  coined  the  term  WiTricity

which  is  being  used  by  the  MIT  researchers  today. 

Moreover, we  all  are  aware  of  the  use  of  electromagnetic  radiation

(radio  waves)  which  is  quite  well  known  for  wireless  transfer  of

information.  In  addition,  lasers  have  also  been  used  to  transmit

energy  without  wires.  However,  radio  waves  are  not  feasible  for

power transmissions because the nature of the radiation is such that

it spreads across the place, resulting into a large amount of radiations

being wasted. And  in  the  case  of  lasers,  apart  from  requirement  of

uninterrupted  line  of  sight  (obstacles  hinders  the  transmission

process), it is also very dangerous.

 

What's so Unique about Soljacic's experiment?

 What Soljacic's  team  has  done  is  that  they  have  specifically  tuned

the transmitting unit to the receiving device. The transmission is also

not hindered by the presence of any object in the line of sight. If the

object to be charged is in the vicinity of the WiTricity source, then the

energy transfer will undoubtedly take place.

 

In  this  'coupling  resonance'  system,  the  electric  energy  that  is  not

used  up  by  the  receiver  does  not  get  radiated  into  the  surrounding

environment,  but  remains  in  the  vicinity  of  the  transmitter.  This

ensures safety as well as minimal wastage of power. One of the five

researchers, Dr. Aristeidis Karalis says that their coupling resonance

system  is  one  million  times  more  efficient  as  compared  to  that  of

Nikola Tesla.

 

 Why was WiTricity not Developed before?

 It  is often said  'necessity  is  the best  teacher' and can be applied  in

this  case  as  well.  Only  in  this  century,  has  the  need  for  wireless

electricity emerged so rapidly, spearheaded by the agony caused by

the  cumbersome  charging  of  endless  devices.  Earlier  people  didn't

need it, so they didn't think about it.

 

How Safe is WiTricity?

 Human beings or other objects placed between  the  transmitter and

receiver  do  not  hinder  the  transmission  of  power.  However,  does

magnetic coupling or resonance coupling have any harmful effects on

humans?  MIT's  researchers  are  quite  confident  that  WiTricity's

'coupling resonance' is safe for humans. They say that the magnetic

fields  tend  to  interact  very weakly with  the  biological  tissues  of  the

body, and so are not prone to cause any damage to any living beings. 

What's the Future of WiTricity? 

MIT's WiTricity is only 40 to 45% efficient and according to Soljacic,

they  have  to  be  twice  as  efficient  to  compete  with  the  traditional

chemical batteries. The team's next aim is to get a robotic vacuum or

a laptop working, charging devices placed anywhere in the room and

even  robots  on  factory  floors.  The  researchers  are  also  currently

working  on  the  health  issues  related  to  this  concept  and  have  said

that  in  another  three  to  five  years  time,  they  will  come  up  with  a

WiTricity system for commercial use. 

WiTricity, if successful will definitely change the way we live. Imagine

cellphones, laptops, digital camera's getting self charged! Wow! Let's

hope  the  researchers will  be  able  to  come  up with  the  commercial

system soon. Till then, we wait in anticipation!

Procurement Outsourcing

Overview
Procurement outsourcing is the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Procurement categorisation and vendor management of indirect materials and services are typically the most popular outsourced activity.

Outsourced procurement teams allow companies to benefit immediately from experienced procurement specialists support & expertise. This avoids the creation of an internal team (new resources) and the required time for that team to structure itself, its processes and its expertise.

Outsourced procurement is therefore an available solution for companies who : - Have no internal competencies but want to quickly benefits from procurment action (Cost reduction, suppliers and contract management...) - Have internal procurement expertise (department) but want to outsource activity on specific area(s) like indirect materials and services. - Consider Procurement as not a non strategic / core function and want to have it managed by a procurement service provider - Want to develop quickly a procurement function to deliver savings, with a willingness to internally develop this function in the mid term
Procurement Outsourcing is being thought of in a big way in automobile manufacturers in India and China because with increasing number of cars being produced every passing day more man hours are required in trivial issues like timely delivery of materials. Hence Procurement team cannot concentrate on its core competency of negotiations and vendor selections.

Procurement categories

Procurement specialists usually split procurement activities into two parts:

1. Direct procurement. Direct categories are all goods purchased by the company which directly enter into the production process of that company. For the food industry as an example, ingredients and packaging will be the key direct procurement categories.
2. Indirect Procurement. Indirect categories are all the goods and services that are bought by the company to enable its activity. This entails a wide scope, including marketing related services (media buying, agencies), IT related services (hardware, software), HR related services (recruitment agencies, training), facilities management and office services (Telecoms, furniture, cleaning, catering, printers), or utilities (gas, electricity, water)...etc

Procurement services providers (PSP)

Specialized procurement service providers are dedicated to procurement and have developed a strong expertise in procurement and procurement outsourcing, mainly in indirect procurement. Additionally, several consulting companies offer procurement outsourcing services in a limited manner, mainly focusing on strategic inputs or recommendations.Procurement services providers will usually ask for a fixed remuneration against commitment to saving delivery. Some providers also work on incentives or performance related fees (% of savings). Apart from procurement outsourcing, PSPs will offer other services like spend analysis or opportunity assessments.

E-PROCUREMENT II

Since the late 1990's and the Internet boom, the promise of e-procurement as a way of saving companies as much as 60% on their bottom line has been much discussed but rarely achieved. However, most companies can see results that live up to those expectations if they use specific implementation strategies and avoid falling into some common e-procurement pitfalls that may undermine their implementation.

E-procurement refers to the purchase of goods, and even services, via the Internet for business purposes. For example, if a company needs a new fax machine, a representative could go to the local office supply store and purchase the equipment, but he may end up paying more than necessary and his purchase would be more difficult to track, particularly if that business is part of a larger company with multiple offices. With an e-procurement system, purchases can be regulated and tracked more efficiently so unnecessary or extravagant purchases are nearly eliminated. Plus, an e-procurement system streamlines the purchasing process because employees no longer have to take time away from their schedule to go to the store and shop around. Instead, they can go online, place the order, and get back to work. Some companies that have put e-procurement systems in place have seen as much as a 25% decrease in waste and a savings of millions of dollars annually.

While the benefits of an e-procurement system may be significant, companies must carefully adopt the system if they want it to be successful. One adoption strategy that has worked for other businesses is simply to take it slowly. Instead of attempting to bring all business purchases online immediately, companies bring different categories of purchases online one at a time. For instance, a business may begin by buying its stationary supplies over the Internet, then its computer equipment, and eventually its temporary staff.

The incremental approach to e-procurement implementation has several benefits. For one, the approach allows the staff to become familiar with the system and with using the system for necessary purchases. Additionally, it gives suppliers the chance to adopt the appropriate technology.

Another important implementation strategy is to determine beforehand the specifications for all of the products and services required by the business. Generally, this process involves determining what type of ink cartridges the printers require, what brand of ink pens are used, what style of desk chairs are needed, etc. While this step may seem time-consuming, it prevents employees from using the e-procurement system to make unnecessary purchases for items such as palm pilots, leather chairs, or expensive writing instruments.

Despite taking these precautions when implementing an e-procurement system, many companies still find that they must also work hard to avoid some common pitfalls. One of the biggest problems these companies have found is that employees simply refuse to use the system. Implementing the system slowly and providing the necessary training can help employees feel more comfortable with e-procurement and more inclined to make sure of the system. Another common problem is that many companies do not have a plan in place to deal with purchasing items that are not available through the online suppliers. When this occurs, these businesses usually fall back on using the corporate credit card and the local office supply store which undermines the benefits of e-procurement. Instead, these businesses could explain to their existing online suppliers what goods or services they require, then allow those suppliers the opportunity to meet those needs for them.

The bottom line is that e-procurement systems can be effective at reducing waste and saving money, but special steps must be taken to effectively implement the system and to avoid the types of problems that can hinder the successful adoption of e-procurement systems.

E-PROCUREMENT TRENDS

Reverse auctions are one of the most prominent trends in procurement today. While this approach to finding suppliers simply wasn't feasible a decade ago, today it has allowed both businesses and vendors to reap some significant benefits. In a reverse auction, the buyer creates a listing of the company’s specific project needs. For example, if the company needs to purchase spools of wire from a supplier, then the company would detail the exact specifications and quantity of the wire they required. The buyer then posts this listing of requirements and invites potential vendors to give quotes on the cost of fulfilling those needs. Essentially, the vendors are competing against one another so lower quotes have an advantage. At the end of the auction, the buyer then chooses a winner based on several important factors, including cost, delivery time, and vendor reputation.

Reverse auctions and their popularity have had a tremendous impact on both manufacturers and on suppliers. Manufacturers have been able to streamline the vendor selection process and have made it easier on themselves to select the right supplier for each project. These auctions have also played a critical role in the increase of offshoring. Reverse auctions have also forced suppliers to find new ways of staying competitive. Since price is not the only factor, vendors have been forced to bring more added value to their goods and services, such as extra warranties, training, or other options.

Despite their profound impact, reverse auctions aren't the perfect solution for every project. They do have some weaknesses, as well as a number of strengths that have caused them to become a dominant force in modern procurement. In order to determine whether reverse auctions are the best strategy for a business, both the pros and the cons need to be weighed.

Reverse auctions do offer a number of advantages. First, they do open up competition. Many manufacturers are today doing business with vendors they never knew existed a year ago simply because they were located on the other side of the globe. By allowing businesses to expand their horizons, reverse auctions have given them the tools to truly find the best and most affordable suppliers. Another strength of reverse auctions is that they speed up the entire procurement process. While before, the buyer has to create a complex RFP, distribute it to potential vendors, wait for their responses, then sift through each of their proposals individually in order to make a decision, today the entire process can be completed in 3-7 days instead of weeks or months.

Regardless of these benefits, reverse auctions still fall short in some areas. Because reverse auctions seem to emphasize cost over other qualifications, many buyers may choose the lowest bid only to find out that the shoddy workmanship, low quality products, and slow delivery times cost them more in the long run. Reverse auctions can also be detrimental to the supplier-buyer relationship that is essential for some goods. For example, if only a handful of vendors can provide the raw materials a company needs, and that company places the project up for auction instead of simply using its long-term vendor, chances are that they will lose the goodwill of that vendor and will find it difficult to work with them again. Furthermore, when only a small number of vendors can provide a specific good or service, reverse auctions do not always deliver cost savings and can sometimes cost the buyer more.

Most businesses feel that the strengths of reverse auctions outweigh their weaknesses, hence the reason why they are so popular. Another method of online procurement that works well in some industries is trade exchanges. In trade exchanges, a number of separate companies in a specific industry join together to create specifications for suppliers. Large suppliers are then allowed to participate in the vendor selection process. Unlike reverse auctions, which are open to almost any size vendor, trade exchanges are usually limited to the big players in the field. Many successful trading exchanges are often set up by several large players in an industry.