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[Video] How Domino’s tech stack helps them deliver on time
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Ever wondered how Domino’s uses its tech stack to dominate pizza delivery? In the first episode of The Observability Blueprint, New Relic CEO Ashan Willy sits down with Matthias Hansen, Group CTO of Domino’s Pizza Enterprises to learn how the company leverages observability and AI/machine learning to deliver satisfying digital customer experiences, and hot pizza.
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How organizations can develop great leaders
Only McKinsey Perspectives
Today’s most important leadership traits Brought to you by Alex Panas, global leader of industries, & Axel Karlsson, global leader of functional practices and growth platforms
Welcome to the latest edition of Only McKinsey Perspectives. We hope you find our insights useful. Let us know what you think at Alex_Panas@McKinsey.com and Axel_Karlsson@McKinsey.com.
—Alex and Axel
•
Challenging times. It’s not easy to lead a global organization in today’s fragmented world, McKinsey’s global managing partner, Bob Sternfels, and coauthors acknowledge. Leaders are contending with a growing number of disruptions: the authors estimate that the number of critical issues CEOs and top teams typically focus on has doubled in the past ten years. Even so, organizations that treat leadership development as a core capability can raise their overall resilience and improve their odds of withstanding future shocks.
—Edited by Belinda Yu, editor, Atlanta
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by "Only McKinsey Perspectives" <publishing@email.mckinsey.com> - 01:16 - 9 Dec 2024 -
The week in charts
The Week in Charts
Supply chain resilience, investing in insurance, and more Share these insights
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:50 - 7 Dec 2024 -
GRAB 3 FREE 1 !!! UNDERSTAND SHIPPING PRACTICES, DOCUMENTS AND PAYMENT SYSTEM (15-16 Jan 2025)
GRAB 3 FREE 1 !!!
Please call 012-588 2728
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FACE-TO-FACE PUBLIC PROGRAM
UNDERSTAND SHIPPING PRACTICES,
DOCUMENTS AND PAYMENT SYSTEM
Venue : Dorsett Grand Subang Hotel, Selangor (SBL Khas / HRD Corp Claimable Course)
Date : 15 Jan 2025 (Wed) | 9am – 5pm By SH Yeo
16 Jan 2025 (Thu) | 9am – 5pm .
LEARNING OBJECTIVES:
By the end of the interactive session, the learning curve achieve will enable the following:-
a) UNDERSTAND the parties involved in shipping operation and its relation to one and another
b) UNDERSTAND the rule of delivery and risk transfer in shipping operation
c) UNDERSTAND the responsibility and liability of all the parties in a shipping operation
d) UNDERSTAND the key documents required for shipping operation
e) UNDERSTAND the difference type of bill of lading and the type of bill of lading issue out for the different payment or contract made between buyer and seller
f) UNDERSTAND the incentives available to importer and exporter in Malaysia for efficient international trade
g) UNDERSTAND packaging best practices and clause in contract to protect a buyer interest
h) UNDERSTAND the different category of cargoes in shipping
i) UNDERSTAND the process of shipping for import and export
j) UNDERSTAND the different method use to calculate import duties and sales tax
k) UNDERSTAND the type of payment system in shipping operation
TRAINING METHODOLOGIES:
This training will involve the following area to enhance learning:
a) Power point presentation
b) Quiz session for every module completed
c) Discussion on subject of learning
d) Facilitating by trainer to enhance understanding of subject matter
e) Notes will be provided
f) Pre test and Post test will be given to participants to gauge learning before and after training
PARTICIPANTS GROUP:
This training program is highly recommended for employees in purchasing, sales and marketing and logistics and other operational areas.
OUTLINE OF WORKSHOP
Module 1 – Parties in Shipping Operation, Responsibility and Liability
- Parties in Shipping Operation
- Buyer and seller responsibility
- Freight forwarder and carrier responsibility
- Exclusion issue
- Freight broker versus Freight Forwarder
- NVOCC versus Ocean Carrier
- Chartered shipping operation
- Quiz session
Module 2 – Type of Cargoes in Shipping
- FCL versus LCL cargo and documentation difference
- Type of box containers for ocean and air freight
- Flat rack container
- Bulk Cargo versus Neo Bulk and Break Bulk cargo
- RORO operation versus LOLO operation
- Quiz session
Module 3 – Bill of Lading, Insurance and other Documents in Shipping
- NVOCC and Freight forwarder BL versus Carrier BL
- Different type of Bill of Lading
- Negotiable versus Non Negotiable Bill of Lading
- Bill of Lading issued for Letter of Credit
- Blank endorsed Bill of Lading
- Packing list and Invoice best practices and purpose
- Delivery note versus packing list
- Type of Custom document used in shipping
- Cargo insurance, the different type available
- Quiz session
Module 4 – Customs Role and Responsibility and Trade Incentives
- Customs role and responsibility
- Method of calculating import duties and sales tax
- Harmonized Tariff code
- MIDA trade incentives
- Free Trade Agreement purpose and rule of origin
- Temporary Export and Import scheme
- Quiz session
Module 5 – Rule of Delivery for Shipping Operation
- Understand Risk Transfer and Delivery point using Incoterms
- Title document
- Responsibility and liability of seller and buyer in the process of delivery
- Freight agent responsibility in ensuring proper delivery in shipping
- When Force Majeure apply in shipping operation
- Quiz session
Module 6 – Payment in International Trade and Role of Shipping Parties
- Different types of Payment method in international trade
- Selection of Incoterms in shipping to secure payment
- Shipping company and Freight forwarder role in the payment process
- Quiz session
** Certificate of attendance will be awarded for those who completed the course
ABOUT THE FACILITATOR
SH Yeo
Academic & Professional Qualifications
Certified HRDF Trainer (TTT certificate number 4669)
Certified Professional Trainer and Facilitator (University Malaya, Malaysia)
- Diploma in Human Resource Management (UK)
- Diploma in Production Management (USA)
- MBA in Supply Chain Management (USA)
- 33 year of management experience in supply chain and operation
- Trainer & consultant since 2008
Mr. Yeo is a very experienced supply chain and operational manager. During his working career, spanning over 33 years, he has held various positions as following:-
1987 - with International Paint (later known as Akzo Nobel International Paint) as a Storekeeper
1989 to 1992 @ Warehouse Executive
1992 to 1993 @ Warehouse Manager
1993 to 1998 @ Production Manager
1998 to 1999 @ join Melandas as a Logistics and Purchasing Manager.
1999 to 2004 @ join Dian Creative as a Material Manager
2004 to 2006 @ join Joubert SA Malaysia as Purchasing Manager
2006 to 2008 @ Procurement Manager
2008 to 2019 @ Supply Chain Manager and Company Director
His major achievements include the following:-
a) Increase productivity in the production department by providing intrinsic and extrinsic motivation to the employees from 1993 to 1998.
b) Making major decision to advise a MNC company to drop LMW warehousing scheme and adopting MITI PC1 and 2 exemption system to help company to be more competitive in the local and oversea market in 1998.
c) Co coordinating Kastam licensing and reporting to solve company reporting and licensing issue with Kastam
d) Establishing control and procedure and bringing awareness to employee on important of supply chain control in 2004 until 2019 and achieving 100% shipment performances to customers
e) Involve in negotiating with a major customer from Europe to secure new contract and beside visiting overseas suppliers for performances improvement and selection of new suppliers
f) Carry out new product development by working with engineering and design team and suppliers, including spending on site at supplier premise to solve new product design issue
g) Introduced new procedures in warehouse and operation for better control of operation and reporting system
h) Managing and conducting cost reduction management program from 2008 to 2013 and reduce cost for the company by up to RM6.5 mil.
i) Involve in managing suppliers contract and involving in proposing and drafting new contract and contract renewal for suppliers from 2008 until 2019 (early retirement) by working with suppliers and internal stakeholders with guidance from legal expert.
j) Managing Non Disclosure Agreement with suppliers to protect company intellectual property
(SBL Khas / HRD Corp Claimable Course)
TRAINING FEE
2 days Face-to-Face Public Program
RM 2,250.00/pax
(excluded 8% SST)
Group Registration: Register 3 participants from the same organization, the 4th participant is FREE.
(Buy 3 Get 1 Free) if Register before 6 Jan 2025. Please act fast to grab your favourite training program!We hope you find it informative and interesting and we look forward to seeing you soon.
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by "sump@otcmsb.com.my" <sump@otcmsb.com.my> - 11:56 - 7 Dec 2024 -
EP141: How to Ace System Design Interviews Like a Boss?
EP141: How to Ace System Design Interviews Like a Boss?
They are the most critical components to crafting successful software systems.͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ Forwarded this email? Subscribe here for moreRedpanda Streamfest: Learn the latest in streaming data and AI (Sponsored)
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This week’s system design refresher:
How to Ace System Design Interviews Like a Boss?
My NEW book, Coding Interview Patterns, is now available on Amazon
Who are the Fantastic Four of System Design?
Unicast vs Broadcast vs Multicast vs Anycast
How Does VISA Make Money?
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How to Ace System Design Interviews Like a Boss?
Follow this 7-step process to do well in a System Design Round
Requirements Clarification
In the first step, clarify functional and non-functional requirements. Ask questions to understand the core features of the system as well as non-functional aspects such as data volume, availability, scale, etc.Capacity Estimation
Next, estimate the capacity of the system. Focus on attributes like the number of users, traffic, storage/memory needs, and compute and networking requirements.Create High-Level Design
Break down the system into components such as client apps, servers, load balancers, databases, etc.
Start with drawing a simple block diagram that shows these components and their potential interaction with each other. Focus on the data flow.Database Design
Model the data and choose the right database type for the system. Once done, focus on the database schema.Interface Design
Next, focus on the interfaces to the system. This could be API endpoints or event models exchanged between the various components of the system. Also, choose a communication approach such as REST, GraphQL, gRPC, or an event-drivenScalability and Performance
Address the scalability, performance, and latency aspects of the system by suggesting techniques that will be used. For example, vertical and horizontal scaling, caching, indexing, denormalizing, sharding, replication, CDNs, etc.Reliability and Resiliency
Lastly, address the reliability and resiliency of the design. Identify single points of failure and mitigate their impact.
Over to you: What else would you add to the process?
Proactive performance monitoring using New Relic AI (Sponsored)
Managing complex technology stacks and ensuring continuous uptime are critical challenges for modern engineering teams. Reacting to issues after they occur often results in costly downtime and frustrated customers. The solution? Proactive performance monitoring. With New Relic AI, you can move from reactive to proactive monitoring by leveraging AI to foresee problems before they happen, identify trends, and resolve issues faster.
My NEW book, Coding Interview Patterns, is now available on Amazon
My new book, Coding Interview Patterns, is now available on Amazon!
I’ve been working on this book for 1.5 years with my co-author, Shaun Gunawardane.
Our goal is to help you understand the underlying patterns of each coding problem, so you don’t have to grind through 100s/1000s of them.
We’ve also included 1,000+ diagrams to help you quickly grasp the reasoning and logic behind a solution within 5–10 minutes.
I hope this book achieves its goal.
Who are the Fantastic Four of System Design?
Scalability, Availability, Reliability, and Performance.
They are the most critical components to crafting successful software systems.
Let’s look at each of them with implementation techniques:Scalability
Scalability ensures that your application can handle more load without compromising performance.Availability
Availability makes sure that your application is always ready to serve the users and downtime is minimal.Reliability
Reliability is about building software that consistently delivers correct results.Performance
Performance is the ability of a system to carry out its tasks at an expected rate under peak load using available resources.
Over to you: What are the other pillars of system design and strategies you’ve come across?
Unicast vs Broadcast vs Multicast vs Anycast
These are 4 network communication methods you must know.
Unicast
Unique sender and a single receiver.
For example, communication between two people in a party.
Used in protocols such as HTTP, FTP, and SMTP.Broadcast
Single sender and multiple receivers.
For example, a person at a party stands up on a podium and shouts a message to everyone. However, it doesn’t mean that every receiver gets the message.
Used in Address Resolution Protocol, DHCP, and NTPMulticast
Sender to a specific group of devices in a network. This is a specialized case of broadcast routing.
For example, a member of the group talks and listens to other members of the group within a party.
Used in IPTV and video conference applications.Anycast
Sender to a single device or a specific group of devices.
For example, saying thank you to one host out of a group of hosts organizing a party. All other hosts also expected to receive the thank you note.
Used in DNS querying and CDNs.
Over to you: Which approach have you used?
How Does VISA Make Money?
Why is the credit card called “the most profitable product in banks”? How does VISA/Mastercard make money?
The diagram below shows the economics of the credit card payment flow.1. The cardholder pays a merchant $100 to buy a product.
2. The merchant benefits from the use of the credit card with higher sales volume, and needs to compensate the issuer and the card network for providing the payment service. The acquiring bank sets a fee with the merchant, called the “merchant discount fee.”
3 - 4. The acquiring bank keeps $0.25 as the acquiring markup, and $1.75 is paid to the issuing bank as the interchange fee. The merchant discount fee should cover the interchange fee.
The interchange fee is set by the card network because it is less efficient for each issuing bank to negotiate fees with each merchant.
5. The card network sets up the network assessments and fees with each bank, which pays the card network for its services every month. For example, VISA charges a 0.11% assessment, plus a $0.0195 usage fee, for every swipe.
6. The cardholder pays the issuing bank for its services.
Why should the issuing bank be compensated?The issuer pays the merchant even if the cardholder fails to pay the issuer.
The issuer pays the merchant before the cardholder pays the issuer.
The issuer has other operating costs, including managing customer accounts, providing statements, fraud detection, risk management, clearing & settlement, etc.
Over to you: Does the card network charge the same interchange fee for big merchants as for small merchants?
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by "ByteByteGo" <bytebytego@substack.com> - 11:36 - 7 Dec 2024 -
Top 10 reports this quarter
McKinsey&Company
At #1: The next big arenas of competition Our top ten reports this quarter look at the state of fashion, small businesses, retail banking in the AI era, and more. At No. 1, McKinsey's Chris Bradley, Michael Chui, Kweilin Ellingrud, Michael Birshan, and coauthors explore 18 business arenas of competition that could reshape the global economy and generate $29 trillion to $48 trillion in revenues by 2040.
Share these insights
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Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Top Ten" <publishing@email.mckinsey.com> - 10:27 - 7 Dec 2024 -
Fw: Rebuild WordPress Website
Hi,
Just following up on my previous email to see if you're still interested in exploring a website update or any of our web services. Let me know if you’d like to set up a quick call to discuss your needs.
Looking forward to hearing from you!Best Regards,Violetta smith
From: Violetta smith
Sent: Sunday, August 25, 2024 11:22 AM
Subject: Re: Can We Schedule a Time to Talk?Hi there,Are you considering a website update? We offer comprehensive services including design, redesign, development, and maintenance.Our expertise includes:- Website Design
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by "Violetta smith" <Violettasmith27@hotmail.com> - 08:15 - 7 Dec 2024 -
How do you foster meaningful connections with stakeholders?
Only McKinsey Perspectives
4 characteristics of effective communication Brought to you by Alex Panas, global leader of industries, & Axel Karlsson, global leader of functional practices and growth platforms
Welcome to the latest edition of Only McKinsey Perspectives. We hope you find our insights useful. Let us know what you think at Alex_Panas@McKinsey.com and Axel_Karlsson@McKinsey.com.
—Alex and Axel
•
Crucial relationships. For CEOs today, managing a broad range of relationships is a vital skill. Before becoming CEO of Microsoft, for example, Satya Nadella didn’t fully appreciate “how multi-constituent the world really is,” consisting of shareholders, team members and employees, and customers and governments. The capability to balance stakeholders’ needs is one of the defining characteristics of a great CEO, McKinsey research finds. Yet not all leaders have mastered that talent, McKinsey senior partner Kurt Strovink and coauthors share.
•
Engage effectively. To cultivate diverse relationships, leaders should start with a deep understanding of their organizations’ unique purpose and their stakeholders’ motivations and goals. With this information, CEOs can craft core narratives and adapt them to make messages meaningful for different audiences. Consider four characteristics of successful stakeholder engagement, and read CEO Excellence and The Journey of Leadership to learn the practices of top CEOs and discover leaders’ personal and professional experiences.
—Edited by Belinda Yu, editor, Atlanta
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by "Only McKinsey Perspectives" <publishing@email.mckinsey.com> - 11:09 - 5 Dec 2024 -
Mastering Modern Authentication: Cookies, Sessions, JWT, and PASETO
Mastering Modern Authentication: Cookies, Sessions, JWT, and PASETO
Authentication serves as the first line of defense in ensuring the security of applications and the sensitive data they handle.͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ Forwarded this email? Subscribe here for moreAuthentication serves as the first line of defense in ensuring the security of applications and the sensitive data they handle.
Whether it’s a personal banking app, a corporate platform, or an e-commerce website, effective authentication mechanisms are needed to verify the identity of users and safeguard their access to resources.
Authentication ensures that only authorized users gain access to specific data or actions within an application. Without proper authentication, applications are vulnerable to unauthorized access, data breaches, and malicious attacks, potentially resulting in significant financial loss, reputational damage, and privacy violations.
In addition to security, authentication plays a critical role in the user experience. By effectively identifying users, applications can provide personalized services, remember user preferences, and enable functionalities like Single Sign-On (SSO) across platforms.
With evolving threats, implementing secure and efficient authentication is more challenging than ever. Developers must navigate between competing priorities such as:
Security: Ensuring protection against different attack types like session hijacking, token theft, and replay attacks.
Scalability: Supporting millions of users without compromising performance.
User Experience: Maintaining ease of use while applying strong security measures.
To tackle these challenges, developers rely on various authentication mechanisms. In this post, we’ll explore multiple authentication mechanisms used in modern applications and also study their advantages and disadvantages.
Fundamentals of Authentication...
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by "ByteByteGo" <bytebytego@substack.com> - 11:37 - 5 Dec 2024 -
Dive into the data: The State of Observability in Europe report
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November 2024What is your observability standing in Europe? Our State of Observability report holds the largest, most comprehensive research done on the topic. Explore deep insights into ROI, AI adoption, developer velocity, and business impact across Europe and the world.Download now Mastering sales season with observability
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Free SEO review from our UK-based team of experts
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What HR experts can do to put employees first
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McKinsey Talks Talent Brought to you by Alex Panas, global leader of industries, & Axel Karlsson, global leader of functional practices and growth platforms
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Under pressure. Between the COVID-19 pandemic, the Great Resignation, and a volatile business environment, HR professionals are grappling not only with rising employee stress and dissatisfaction but also with their own work-related challenges. That’s according to McKinsey’s Brooke Weddle and Bryan Hancock and Wendy Miller, McKinsey’s chief people officer for North America, who explain that HR often feels caught between caring for employees and meeting organizational expectations. This tension may lead to underdelivering care to employees at a moment when workers’ needs are at an all-time high, Miller reveals.
—Edited by David Weidner, senior editor, Bay Area
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Introducing Remote’s new integrated solution for managing global benefits.
Introducing Remote’s new integrated solution for managing global benefits.
Global Benefits, Seamlessly Integrated with PayrollHi MD,
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The secrets to e-commerce success
Re:think
The habits of highly successful e-commerce companies FRESH TAKES ON BIG IDEAS
ON E-COMMERCE
E-commerce leaders do things differentlyE-commerce has been around for more than a quarter century, but many companies still have trouble generating real profits from it. Yes, almost every company has a website, an online shopping experience, and some social media presence, but those are really just trappings. The companies that are most successful with e-commerce don’t treat it like a bolt-on application or channel to their regular business (an all-too-familiar outcome); they embed it into the core of their business.
Embedding e-commerce into the core of the business means integrating digital into how companies develop, market, and sell products and services to customers wherever they search and shop. Companies that are successful at this don’t think primarily in terms of how to build experiences around their channels, but instead how to use their channels to create the best—and most profitable—experiences. This thinking leads to a profound commitment to next-generation commerce based on integrating capabilities—technology, talent, strategy, operations, marketing, and sales—into a coherent operating model.
Leading companies (those growing at ten percentage points above the market average) commit to next-gen e-commerce. They are prudent with their spending but cutting costs is not their top priority. Instead, they invest in technology (generative AI is the top priority for 20 percent of leaders, while less than 5 percent of laggards make a similar push), talent, channel integration, and shopping-event days, like Black Friday and Cyber Monday.
Leading companies bring top tech and e-commerce talent in-house. Agencies and vendors will always have a role. But in-house experts who know how to build things—data engineers, software engineers, cloud engineers—give the business the speed and flexibility to innovate at a pace that can keep up with the changes in customer behavior and market dynamics. That’s because successful e-commerce is intensely cross-functional (teams with a range of experts across the business who work together) and end-to-end (functions including R&D, logistics, and customer service that all need to work together to deliver a complete customer experience). “Almost 20 percent of business leaders are planning to spend more than $100 million on e-commerce technology infrastructure, compared with about 8 percent of laggards.”
Bringing in the right talent is a big challenge, because companies tend to fall into a few traps. The first is that they aren’t sure about what they’re trying to achieve so they’re not sure what kind of talent they need. The second is that companies don’t look for the best person for the job but rather the best person for the job who fits the pay band they have in place. Getting good talent is expensive, but companies often focus on the cost without understanding the benefit. Paying for top talent is actually a good deal because these people can deliver better results more quickly, and also attract better talent in turn.
If companies want to bring in top talent, they need to give them cutting-edge technology to work on. Relying just on monolithic e-commerce systems is a sure way to chase away the best talent, who want to work on technologies that can help build their skills. Almost 20 percent of business leaders, in fact, plan to spend more than $100 million on e-commerce technology infrastructure, according to our analysis (compared with about 8 percent of laggards).
In practice, this focus means having a technology architecture that embraces “MACH” development principles (microservices; API-enabled; cloud-native software as a service; and “headless,” where front-end design is decoupled from back-end systems). Open-source technologies meet many of these criteria, providing developers with significant control and flexibility. As AI and gen AI become more important, the critical ability won’t be so much how to build technologies from scratch but how to combine them so they can operate cost effectively at scale.
The power of advanced technologies is starting to bear some real fruit when it comes to e-commerce. One European bank, for example, implemented an AI program to understand why customers were opening accounts. In one hour, the program recommended 80 personalized marketing campaigns to target similar cohorts of potential customers. The team narrowed down the options to 40 campaigns, 38 of which ended up being successful. That kind of success rate is unheard of and a sign of how much value AI can generate in e-commerce when it’s well developed and deployed.
It's easy to become enamored of today’s modern technologies in terms of what it can do for e-commerce, but it’s critical to remember that it’s never just tech. Effectively developing, deploying, and improving tech programs requires companies to rewire how they work. How companies develop meaningful strategies, work across wider swaths of the organization, use their data more effectively, and scale programs to different regions, products, or customers are all critical building blocks for creating value.ABOUT THIS AUTHOR
Arun Arora is a senior partner in McKinsey’s Paris office.
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Roger Roberts on AI trust
Companies can take an ethics-driven approach to building AI trust by deciding not just what they can build with AI, but what they should build. A strong governance model defines core principles and puts them into practice.
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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 01:13 - 4 Dec 2024 -
Guest Post Contribution Inquiry
Guest Post Contribution Inquiry
Hi,
I’d like to pitch David Maricich, President and Chief Creative Officer of Maricich Health, as a contributor for Odoo. David is a visionary leader and healthcare entrepreneur who has dedicated over 20 years to consulting on healthcare innovation, branding, marketing, and communications.
David can provide valuable insights into effective healthcare marketing during major transitions, such as mergers and acquisitions, and can share strategies for reaching diverse target markets and enhancing public health campaigns. Additionally, he is keen to discuss the transformative potential of artificial intelligence in healthcare marketing and innovative strategies for unlocking growth potential in healthcare organizations.
Here are possible topics we’d like to contribute:
- Future-Proofing a Legacy: The Role of Innovation in Multi-Generational Companies
- How to Bring Innovation & Change Without Losing Legacy Values in Your Business
- Adapting to Cultural Fluidity: Strategies for Connecting with Evolving Consumer Identities
- How Marketing Leaders Can Drive Transformation in Stubborn & Traditional Enterprises
- Less is More: How Focused, Specialized Positioning Can Unlock Business Growth
Here are some of his writing samples:
- Could Marketing in Schools Help Save America’s Health? - MM&M Online
- Why the Healthcare Ecosystem Matters - DTC Perspectives
Let me know if any of these topics are of interest to Odoo!
P.S. I coordinate the content for Maricich Health and our contributor posts. David will be the one writing the piece, and I will coordinate edits.
--
by "Ricardo Gonzalez" <ricardo.g@zupo.co> - 12:51 - 4 Dec 2024