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Technology and Innovation

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15 views1 page

Technology and Innovation

Uploaded by

kartikeymittal107
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Technology and Innovation

Technology and innovation play a crucial role in improving operations management by making
processes more efficient, cost-effective, and adaptable. Here’s how they help:

1. Digital Transformation and Data Analytics


a. Nike uses data analytics through its apps and online platforms to gain insights into
customer behaviour, preferences, and purchasing trends. Predictive analytics helps in
accurate demand forecasting, optimizing inventory levels, and ensuring timely
product availability.
b. Operational Impact: Enhanced data visibility improves inventory accuracy, reduces
waste, and aligns production with demand, making operations more efficient.
2. RFID Technology for Inventory Management
a. Nike employs RFID technology to track products in real-time across warehouses and
stores. This supports Nike’s omnichannel approach by providing accurate, up-to-date
inventory information.
b. Operational Impact: RFID minimizes stockouts, optimizes inventory across channels,
and supports efficient order fulfilment, including initiatives like Buy Online, Pick Up
In-Store (BOPIS).
3. Advanced Manufacturing Techniques
a. Innovations such as FlyKnit, which uses precise knitting to reduce waste, and 3D
printing for prototyping, enable Nike to accelerate product development and reduce
material costs.
b. Operational Impact: Advanced manufacturing reduces production time, lowers
waste, and supports Nike’s sustainability goals, driving efficiency across the supply
chain.

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