Group 1

OPERATION MANAGEMENT

Varun Agrawal 01
Prashant Bhutoria 11
Falguni Gupta 21
Manish Kumar 31
Rhythm Arora 41
Sidharth Shah 51
Virtual Reality
in the
Global Context
 Virtual Reality has gradually, in the recent times become
one of the newest technological tools for direct
Scenari communication with customers. More and more companies
are encouraged to take this form of communication up to

o
build upon and improve the virtual reality technology.

STATISTICS
According to a report by
market research firm
Transparency Market
Research it was estimated
that there is an exponential
CAGR of 92.5% over the
period between 2016 and
2024, increasing to
$547,207.68 million by 2024.

3
 Today a customer is looking to buy a product which they can
spot and is attractive or interesting to them at first glance.
Applicati With online shopping becoming a popular preference, it’s a
huge challenge for retailers to keep the customers

on on
interested.
Virtual Reality addresses exactly to that demand of the
customers and helps brands build a better connect as well as

Retail collect data of their potential customers with the new trend
called experiential
Experiential marketing
Marketing has
become one of the most
important marketing
approaches in todays world.
VR AND AR are very
promising tools which will
help customers experience
the product in offer at the
comfort of your sofa.
New technologies like heads-
up display, head-mounted
display, 3D printers etc we
can see that using VR and AR
will not only increase the
awareness of the brand and
product to the customers but
will make the customers
interact and experience the
product itself.

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 Blockchain
in the
Global Context
 Blockchain being a platform where data can be

Scenari stored and viewed by everyone but controlled

by none, gives a lot of scope for its application
into any industry.
o
Current Utility
Currently being utilised only
in regards to bitcoin as a
currency it can be seen how
effective blockchain structure
is. We can see a more
digitally integrated economy
on a global level, something
that could enhance economic
growth and decrease poverty.
Scope
Blockchain has huge
potential in any market/
industry that takes it up such
as,
▫ Financial Institutions like
banks, lenders etc.
▫ Retail Industry.

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 Understanding how Blockchain system works

Applicati gives us an understanding about the scope and

impact it can have on the retail industry.

onof
Block Inventory Management Faster Decision Making

Chain in When a blockchain structure

will be put in place every
inventory movement is
Blockchain will facilitate a
faster decision making since
the individuals will have the

Retail recorded right from the

manufacturer, whole seller,
data of inventory in either
the retailer, whole seller or
manufacturer thus helping in
retailer etc.
efficient and timely flow of
goods which reduces the
costs of inventory storage for
the company.

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 Block THE INTERNET OF VALUE
What if there was not just an internet of information but an
internet of value? Assets can be transferred for the first time
Chain peer-to-peer without an intermediary. This is ‘blockchain’. It
represents the fourth industrial age and will change the nature of

Revolutio corporations.Blockchain has the power to change the nature of

corporations. It is critical that every investor understands this
new technology and its implications. For the first time in history
n assets can be transferred peer-to-peer without an intermediary
using an internet of value.

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 THE POTENTIAL OF THE SECOND ERA OF THE INTERNET

The second era of the digital revolution is here, and it has the potential to
change everything about the way we interact around the world. The
technology behind this new revolution is called ‘blockchain’ – the underlying
technology behind cryptocurrencies like bitcoin and ether. Using cryptography,
some clever code and collaboration, blockchain creates a decentralized
network with trust built into the system. This represents nothing less than the
second generation of the internet, and it holds vast promise for businesses,
societies and individuals around the world. In turn, this will impact
investments.
WHAT IS  GLOBAL PAYMENT
THE SYSTEMS
POTENTI
AL  VERIFYING LAND TITLES

IMPACT?  DATA PROTECTION

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 ▫ Making more informed purchases: The customers

Applicati
get to know their product better and hence the buyer
conversion rate increases.
▫ Unique brand Identification: It increases customer

on of engagement and gives buyer more clearer picture as to

why to purchase. It also helps the brand to stand out as
there aren’t many brands offering this kind of a retail

Virtual ▫
experience.
Information Transfer: Customers can get knowledge
on plethora of topics related to the product with help of

Reality in ▫
virtual coupons.

In store engagement: VR can be used by the

Retail customers to navigate inside the store, gain more

information, and try the product virtually which fosters
in store engagement.

▫ Product Customization: One can see how product will

look like in different setups and hence through this
vision customer can better customize the product as per
their needs.
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 Experiential campaigns: VR adds a better emotional
connect with the product as customer can experience the
product before purchasing it.

Applicati Visualization: Conversion rate becomes

customers can see and feel the product.
higher as

on of VR/AR manuals: More interactive manuals and guides make

the experience more alluring for the customer.

Virtual Low-cost visualisation of high cost assets: High cost

assets often incur loss at times because of customer

Reality in
hesitation to buy. Giving them a virtual experience will help
them develop products at lower cost and increase conversion
rate as well.

Retail Developing flagship store: Using VR headsets the entire

look of the store can change. This will not just take visual
merchandising to the next level but also help reduce cost.

Warehouse planning and In-store Navigation: AR can be

used to improve navigation and help in the management of
stock and inventory.
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 Virtual stores and at-home try-on: We can take e
commerce segment of the retail store to another level by
enabling digital try on facility. This can drastically help in

Applicati increasing sales.

Space optimisation in store: The space in the store can be

on of optimized too as the storage would double up if we keep VR

headsets to create spaces apart from already physically
existing spaces.

Virtual Training workshops: The money on training the staff can

be saved too if we use VR in retail as the experience can

Reality in simulated using this powerful technology.

Lo-fi testing: The risk can be mitigated by testing various

Retail situations in different setups using VR.

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 Objective: To use Virtual reality to enhance retail shopping
experience of a customer especially in a mall.
Solution: To go about this we can develop an application on

Case mobile phones wherein we can have the concept of treasure

boxes placed at different locations at store where in each

Study: VR
treasure box would act as a discount coupon which one has to
find. This is somewhat based on the lines of the famous AR
game Pokémon go.

in Retail The customer experience can be further enriched by creating

dedicated spaces in the mall where in one can put together the
things purchased virtually and see if they fit well together.
Something like this has been done by the famous furniture
brand Ikea, they have created a place called “Ikea Place”
where customers can collect all the furniture virtually and see
how this fits well. This fits well for products which are bulky
and cannot be moved easily.
We can also have the concept of “Magic Mirrors” wherein one
can see clothes they are purchasing in different lighting and
setups and virtually have an idea how they look on them. This
will reduce line outside trail rooms, save time of customers
especially in malls where there is a lot of footfall. 14
 ▫ Virtual Reality is about the complete immersion of
Virtual audiences in a simulated world that will let you delve
into new environments and process information in a 3-
Reality in Dimensional space.
▫ The main challenge for India to delve into virtual reality
Indian is to move away from mainstream consumer sector and
move to alternative technologies.
Scenario ▫ Since, a very few companies in India are into virtual
reality there is a vast opportunity in Virtual Reality
sector. Virtual reality goes far beyond into the world of
retail, manufacturing, healthcare, education,
engineering, architecture and entertainment.
▫ To make an impact of virtual reality in India we first need
to look at more basic issues – connectivity and stable
networks. These two issues are most important for the
growth of any high functioning technology sector. If
these primary matters are addressed on time, Indian
markets can expect to see great demand in the
development of VR solutions across industries.
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 ▫ Future of businesses in virtual reality will boom in years
Virtual to come. Investing in Virtual Reality is not only a novel
idea but businesses see tremendous future in the virtual
Reality in reality industry and expect equally beneficial returns.
▫
Indian The Indian market would be highly benefitted in the
virtual reality industry. VR Games and VR in the
education sector has already had a small head-start over
Scenario other industries.
▫ From Education, to training young medics and engineers,
to providing immersive entertainment options. Virtual
Reality has begun to alter the course of mainstream
technology.
▫ If the bigger players see potential in the VR sector and
invest at least a part of their efforts towards the
development of VR tech and solutions, then the VR
industry will flourish.

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 ▫ Virtual Reality has a wide scope of growth in retail
Scope of industry. Retailers have rolled out consumer-facing
applications that let them virtually try on clothing,
Virtual makeup, and accessories. Memomi, a smart mirror
technology company, has developed solutions that
Reality in support all three scenarios, from sunglasses to
sundresses. Sephora has made a virtual mobile app.
Indian ▫ There is a scope of a shoppable VR experience soon. But
in the end, for an office-bound executive, VR is going to
Scenario shine light into parts of the business that an executive
doesn’t get to see often enough, like far flung retail
stores.
▫ One important thing to consider regarding the potential
of virtual reality technology in a specific retail sector is
whether that certain category is mature for it.
▫ The success of Automotive industry is because the
sector has been closely related to technology and
innovation. In Furniture and Home Design, virtual spaces
can move customers’ imagination and be used in
planning. 17
18
 ▫ To simplify the communications of supply chain in
Blockchain an organization, Blockchain Technology has
stepped in. Areal-time digital ledger of
- enabled transactions and movements for all participants
in their supply chain network are gained through
Supply ‘Blockchains’. Blockchains in supply chain will
save you from money, time and efforts on several
Chain fonts which also helps to redefine your business.
The Blockchain technology invented for supply
chain management is “Blockchain 101”

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 ▫ To transact in a transparent, secure and efficient
What is way is done through digital ledger which is known
as Blockchain101.Backbone of every business is
Blockchain Supply chain. Whether you sell goods online or you
can also offer payments in digital cryptocurrency,
101? the product need to be moved with little friction
from the source to the customer. But in today’s
world, supply chain has become complicated. So to
make supply chain management easy we have
enabled Blockchain 101.

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21
Blockchain ▫ Initiate a secure transaction.
▫ Verify transaction through the
101 Steps: chain.
▫ Encode new data in the
blockchain.
▫ Archive data in distributed blocks.
▫ Send funds and receive
confirmation.

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 ▫ Transparency:
▫ Honest transparency is promoted by shared
database i.e. Blockchain.
Advantages ▫ Security:

of ▫ Secure “blocks” are used to build Blockchain

Technology. The secure blocks are the copies of
the documents which is chronologically linked
Blockchain and stored to the previous blocks.

for Supply ▫ Streamlined Operations:

▫ All the data is on cloud automatically, so
anyone in the supply chain team can access
Chain and verify the data at point of time.

Manageme ▫ Analytics:
▫ Blockchain also offers complex solution to

nt analyze the data that is uploaded thus

Blockchain is more than a storage technology.
▫ Customer Engagement:
▫ To boost customer satisfaction, analytics are
also used. Retailers can access the blockchain
technology to see whether the product will get
delivered on time at their shop
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 Ikea Place, which was launched in US, allows users to place virtual

Case : Ikea furniture into their own home to see how everything might look
once it is assembled. Ikea had a 3D function in its catalogue app for a
few years now, however the scale was somewhat questionable, and it

Ikea required a physical copy of the paper catalogue to work.

In contrast, the new Ikea Place app is mandated & said to be 98%
accurate in scale, rendering 3D images to react the light and shade –
Place ultimately giving consumers a much more realistic and surface
portrayal.
Q.Will Ikea place can inspire consumers to buy using Virtual reality?
I think Ikea Place will be effective in this sense, especially during the
pre-purchase phase when a lot of deliberation or uncertainty tends
will lead to shopper abandonment. With furniture especially Ikea’s
self-assembly furniture being somewhat of a guessing game in terms
of the end result, the AR tool will help shoppers to make more
informed decisions, which could increase sales through the
application.
As well as functional elements, the app also looks like it will provide a
lot of inspiration, enabling users compare over a lot of Ikea items to
see how different furniture might look in the same space making a
difference.
 Cosmetics retailer Sephora didn’t wait around for ARKIt – its
‘Virtual Artist’ app has been available via its main app since earlier
this year i.e. from 2017.Instead of furniture in homes, the AR & VR
Case : technology lets beauty consumers to see what certain products
might look like on their own face when applied. To do so, it uses

Sephora Modiface technology to scan lips and eyes, before overlaying

different lip colours, eye-shadows, false lashes and so on.
The main aim of the app seems to be to boost ecommerce sales,

Virtual with beauty consumers typically driven in-store due to doubts

about what products will look like in real life.

Artist Q. The e-commerce world always comes with an adverse that the
lack of touch and feel misses. Will Sephora virtual artist can disrupt
this ideology?

Well taking things into wider dimension, the front end of the
leading cosmetic market always believes that the things they
deliver is best in the class and segment and should be effectively
delivered to the consumer. By effective delivery of the cosmetic
product to the consumer not only means to delivery the product to
them but also make sure that the consumer should be aware of
the product and how their skin type suits it.
 Using virtual reality, Sephora virtual Artist makes it believable
Case : before purchasing their product. A basic idea of how well it can
be executed to your type when consumed. It makes possible
Sephora various aspects of cosmetic industry to delve and make the
customer more centric towards what they are suppose to buy and
Virtual confirms that their remains no clue in their mind about the
product before they actually transact.

Artist
Thank You