A Study On New Technology Platforms And Process For Procurement

Characteristic features of the selected platforms

• Internet of things (IoT): Internet of Things is defined as the type of system where more than one system is connected to the internet for different types of purposes such as communication and transmission of data without human intervention.
• Virtual Reality (VR): It can be defined as the type of artificial environment developed with the support of a computer system and presented to the users in such a way it creates a sense of acceptance among them.
• Artificial Intelligence (AI): It is the branch of computer science which deals with intelligent machines having capabilities like understanding, decision making and learning. They are capable to solve any type of generic question and work according to the requirement.

Characteristic features of the selected platforms:

• Benefits of using IOT: The standardization of the devices with the enterprise, secured bidirectional data transmission process and management of the distinctiveness of device end points are the principal characteristic features of IOT (BU?KOVÁ and FUSKO 2018).
• Benefits of using Virtual Reality: The wide range of application such as engineering services before development period, high end graphics in computer gaming industry, enhanced marketing procedures helping in increasing productivity and recruitment processes in various organisations (Berg and Vance 2017).
• Benefits of using Artificial Intelligence: The different benefits of artificial intelligence are its application in the combat operations in the army, marketing strategies of bigger corporations and different types of daily life activities such as banks and healthcare. It increases work efficiency, accuracy and reduces the cost of training and operations (Brynjolfsson, Rock and Syverson 2017).
• Industries which uses the selected platforms

• Industries using the Internet of Things: The characteristics feature of the IOT enhances its applications in the sectors such as ICT industries, petroleum industry and mining industry.
• Industries using Virtual Reality: The benefits of virtual reality can be observed mostly in sectors such as automobile industry, aerospace industry, tourism industry, retail industry, finance industry, manufacturing industry and film and entertainment industry.
• Industries using Artificial Intelligence: Artificial intelligence is a foremost strength to the most organisations, and is found in multiple industries such as healthcare industry, finance industry, transportation industry and also in the military units.

Recommendations for implementation of a new platform

Based on the study on the existing web technologies, developers identified the importance of implementing new technology which can substitute the existing technologies with better efficiencies and enhanced productivity, the overall process includes the strategies involving software engineering models, challenges faced by the stakeholders implementing them, resistance to change and the effective degree of product marketing. With the continuous development in the web technology all around the world new advanced platforms are regularly introduced every now and then.

The application of the fifth generation in the mobile technology department in the coming years, it is surely going to be a significant step in the development of the smart city concept. The impressive specifications of this new technology will be the key reasons behind global acceptance. The faster and more effective features such the faster broadband speed, high spectrum band, higher latency, 8K video streaming, higher mobility rate and lower energy consumption rate which are absent in the third or fourth generation network will be the key factors of implementation of the new technology. For the implementation of this new technology, the communications and media authority all over the world allocated new spectrum bands (Shafi et al. 2017).

Task 2: Process of Procurement Reasons for selecting Artificial Intelligence:

The chosen platform is actively used in our daily life so there is a need to study its existing features so that there is a scope of improvement for it. It helped the reduction of human effort in a variety of activities such as banking and combat military operations. The time required to perform any type of work got reduced with the application of this technology along with that efficiency also improved to a significant extent because of that. The capability of an Artificial system to complete any type of trivial such as traffic control and fraud detection task put them in a superior position compared to the other technologies. For improving the quality of services by the organizations, various kinds of organizations use the artificial intelligence systems as the systems support the creation of the algorithms that replicate the real-life logic used in decision making.

Feasibility study on Artificial Intelligence

            The application of this platform has provided us with great facilities but on the other hand, there are few issues such as job loss, lack of judgment calls, huge financial support required throughout the life cycle of an AI-based system and security measures. Unlike human beings AI-based systems cannot be enhanced with experience, it only works according to certain algorithms. So it can be understood that like every other platforms AI also have different types of benefits and drawbacks (Ruiz-Lombera et al. 2017).

List pricing of the selected platform:

 Listing the prices of the artificial intelligence systems is one of the major challenges of the organizations because a huge amount of updated resources is necessary to build those systems and maintain them. The pricing should be done in such a way considering the present market conditions. With the involvement of artificial intelligence, list pricing can also be done using the AI systems. The concept of perfect pricing is very relevant as it helps the users in revenue management of any organization. The list pricing techniques can be impacted by different proper utilization of the data science teams.

Lead time of the selected platform:

 It is one the most important criteria in the evolvement of the artificial systems all over the world as many types of complexities arises in between the initiation and completion of a production process. The leading time of an artificial intelligence system depends on different types of factors such as resources and human ethics (Lei et al. 2017).

The procedure for determining procurement:

The determination of the procurement starts with the most essential steps for identifying the basic requirements of the new system and ends with the final product delivery keeping in mind with the present market conditions. The steps are as follows:

• Step 1: The exact product requirement of the end result should be understood in the first phase of the process by all parties.
• Step 2: Identification of all the critical aspects which are need while the production process gets underway.
• Step 3: The source option of the product need to be obtained in the primitive stages only in order to avoid future complications.
• Step 4: The production bodies of the organization should be investigating about the all the relevant information so that they can set the best price and terms of their final product.
• Step 5: There should be clarity between the services of the buyers and the sellers regarding the pricing of the products and additional commitments.
• Step 6: This step of the procurement cycle is choosing the efficient method for product delivery; it can be both in online and offline mode.
• Step 7: Follow up of the product delivery process is very important as delays may have an influence on the reputation of the association and their services. It also includes the issues such as delivery times, deadlines and payment methods.
• Step 8: The details of the entire process of the transaction should be stored and maintained efficiently so that there is no issue concerning payment of taxes anything among the stakeholders during the annual audit procedure.
• Step 9: All the parties involved in the same business cycle should be having same invoice payment approvals in the form of agreements which provides a sense of security for all of them. This methodology is useful in solving different types of discrepancies which occurs due to many ineffective and unprofessional ways.

User Acceptance form

Project specification

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Reference

Berg, L.P. and Vance, J.M., 2017. Industry use of virtual reality in product design and manufacturing: a survey. Virtual Reality, 21(1), pp.1-17.

Brynjolfsson, E., Rock, D. and Syverson, C., 2017. Artificial intelligence and the modern productivity paradox: A clash of expectations and statistics. In Economics of Artificial Intelligence. University of Chicago Press.

BU?KOVÁ, M. and FUSKO, M., 2018. INTERNET OF THINGS. InvEnt 2018: Industrial Engineering–Invention for Enterprise.

Lei, H., Ganjeizadeh, F., Jayachandran, P.K. and Ozcan, P., 2017. A statistical analysis of the effects of Scrum and Kanban on software development projects. Robotics and Computer-Integrated Manufacturing, 43, pp.59-67.

Ruiz-Lombera, R., Piccolo, A., Rodriguez-Cobo, L., Lopez-Higuera, J.M. and Mirapeix, J., 2017, April. Feasibility study of strain and temperature discrimination in a BOTDA system via artificial neural networks. In Optical Fiber Sensors Conference (OFS), 2017 25th (pp. 1-4). IEEE.

Shafi, M., Molisch, A.F., Smith, P.J., Haustein, T., Zhu, P., Silva, P.D., Tufvesson, F., Benjebbour, A. and Wunder, G., 2017. 5G: A tutorial overview of standards, trials, challenges, deployment, and practice. IEEE Journal on Selected Areas in Communications, 35(6), pp.1201-1221.

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