Procurement Solutions derived from the Power of Internet

One day without internet, and I start feeling as if I am put on an alien planet. Can’t imagine a single day without phone by my side.

Technology has taken center stage in our lives be it work or pleasure. Websites like Facebook and LinkedIn have entered our personal space the way it was considered impossible once.

Even in business environment, many developments take place each day on vendor and customer management front. Many online portals give option to access vendors for buying, selling or comparing goods– Alibaba, Indiamart are among them.

Lets try to understand how such portals can help hospitality industry.

From Supplier's point of view:

• Such portals can help suppliers in a number of ways:
• Online trading portals can help the suppliers in finding buyers as per his / her core competence. Suppliers can bargain and can command best price for their products.
•  Suppliers can network with premium buyers and can easily enter their good books.
• Suppliers can interact / chat with buyers in real time.
• Suppliers can easily understand client requirements and customization.
• On-line platform gives an add-on advantage of showcasing portfolio to multiple buyers at the same time. Hence, overcoming the constraints of marketing on the go.
• Suppliers can better manage their inventory levels by knowing client requirements before hand.
• Supplies can save valuable time in receiving requirements, follow – ups and consignment fulfillment.

From Hotel's point of view:

• Hotels get easy access to thousands of suppliers pan India. They can understand price trends and latest designs with just a click.
• Using feedback and referrals given to suppliers by fellow hoteliers, hotels can make more informed decision
• Hotels can do in depth analysis of supplier competency and experience
• Hotels can save time and money wasted in offline supplier search
• Faster information dissipation in raising orders, design customizations / updates etc.
• Online sourcing has better turnaround time. Hotels can ask for much more than just 3 quotes (current industry standard)
• Communication is the life line of any organization. Online ecosystem ensures better and faster communication system.

Internet is here to stay. Slowly but steadily online ecosystem is becoming the status quo. 

Its best for us that we embrace it in procurement as well and open the world of new possibilities with the power of Internet.

Future of Hospitality Industry in India

As per latest reports, India can overtake China in 2015 to become the world’s fastest growing major economy and can widen the gap further in 2016 (refer to the link for complete details.)

Today India is at a position where the whole world is keeping an eye on her every step. And trust me friend, India is taking each and every stride in her growth with flair. When one talks about flair, first thing that comes to my mind is Indian hospitality.

If I talk about numbers, hospitality backs 6.23 % to country’s GDP and 12.4% to the total employment. 

But mere numbers can’t capture the grandness and scale of this beautiful industry. From the iconic Taj Mahal Palace to the grandeur of Leela Palace Udaipur, India has gems of hotels whose shine attracts guests from across the world.

But all this is just what the present has to offer. Only one can guess what secrets future has in store.

Let’s look at key influencers to the growth of Indian hospitality:

Globalization: 

The “world is flat” like Mr.Thomas L.Friedman describes in his famous book.

Humans are getting more wander some than migratory birds !!

This calls for the need of supercilious quality of service, customized to the needs of new age travelers. Who knows, maybe one day you will be able to book a 5 star for few hours based on your visiting needs.

At the same time, Indian professionals are making their roar heard across the length and breadth of the world. No matter where Indian travelers go, they remain Indian at heart. We command our Khakra and Jalebi sitting on Mt. Rushmore, and the world obliges.

Government Initiates: 

The Indian government realizes the potential Hospitality has in store.

Dr. Mahesh Sharma, the Minister of State of Tourism, Culture and Civil Aviation, has taken up charge of improving cleanliness and safety levels of India Tourism.

Government has come up with “Electronic Travel Authorization (ETA)” scheme that will aim at raising Hospitality to new heights.

Adding cherry to the cake, FDI will put growth of hospitality in India on an expressway.

New avenues of growth: 

Any industry in the world rests on a simple game of demand and supply. If the demand rises, so does supply and thus growth.

With the increase in disposable income and middle class gaining strength, hospitality seems ever so promising.

Moreover, Indians have distinguished demands and tastes, and when we go abroad, it reflects in the services we ask for.

Hotels will have to keep abreast of these demands and make provisions to add “wow factor” in their services.

This will be general rule for all kinds of hotels, be it an airport hotel, business class hotel or a general lodge/ timeshare hotel.

Innovative Operation-Models:

Change is the only permanent today.

 As the industry grows, there will be need for more innovative operation-models to accommodate industry wide  changes.

There are some practices happening today, that guarantee better operation-models tomorrow. Some of these practices include:

• Plan – Do – Check
• It is an age old model with proven results. However, planning each move before-hand comes with experience.
• Understanding Customer
• As customer is the one who will be finally making use of your services, it is best to understand his / her needs before designing any service. As such, hotels across the world are investing heavily to better understand changing needs of global guests
• All Inclusive growth model
• An all inclusive growth model will benefit everyone. As such, hotels are making conscious efforts to keep their employees motivated. A happy employee ensures hotel can adapt to the changing needs of guests

Overall, future of Hospitality looks as bright as pole star in night. 

Let’s enjoy this journey to the fullest!