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Running a Business in the Metaverse: Virtual Services, For the Win

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The metaverse is a network of the 3D world that can be accessed using a virtual reality headset. It is a virtual universe that offers unlimited possibilities. It is estimated that the metaverse would be an $800 million market by 2024. It is no wonder that top corporations are investing in it.

A question arises on how you can run a business in the metaverse. Virtual workplaces are already a reality, thanks to remote work. Virtual services such as virtual reception – including phone answering – like those provided by www.virtualreception.com.au can be offered as a precursor to running a business in the Metaverse.

Using VR givng presentation to clients
photo credit: Tima Miroshnichenko / Pexels

Remote Work and Virtual Services

Remote work is a powerful concept that allows people to work from anywhere. They no longer need to be physically present at an office to work. They can work from home or anywhere else. A question that arises is – what about a virtual office?

At present, virtual workers work from some corner of the home. This may even change from time to time. The metaverse now makes it possible to have an infinite office that has 3 types of virtual workspaces.

1. Private virtual office

With virtual reality headsets on, you can enter your private virtual office where you do your work. You can define your virtual surrounding while being able to see the physical world around you. Productivity tools can be used directly from the virtual office.

Let’s assume you need to attend a virtual meeting. With a tap of the screen, you can open the virtual meeting app and continue the meeting from your virtual office. This is the reality that seeks to transform the way we work.

2. Shared workspace

Some people find it difficult to remote work because they prefer working in a shared space with others. A close and collaborative shared workspace allows for greater productivity. Now, this can be done virtually using a shared virtual place. You can enter the shared space as a virtual avatar.

Sit in your own private office and be part of the shared workspace with others. Interact with them through your VR headset and watch the interaction in the virtual world. This is a great way to simulate an office space and ensure the best collaborative efforts.

3. The infinite office

The infinite office is a virtual office concept that goes to the next level. It takes your office just about anywhere, be it your home or even in a park. Just imagine, you are sitting on a park bench soaking in the warm sun and enjoying the pleasant weather. If you have a meeting scheduled in 5 minutes, you can continue it from the park.

All you need to do is use the VR headset to activate your virtual workspace right in front of you. You don’t even need a keyboard or a screen. You can activate work apps using a gesture. The infinite office is at a conceptual stage. But it won’t be long before it becomes a reality. When it does happen, it will truly take the world of work by storm. Working in the metaverse will become a reality.

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Working in The Virtual World

The virtual world allows you to create a virtual avatar of yourself. Your virtual avatar will work in the shared space with others. An entire office can be created in the virtual world. This will allow you to get the best benefits of a virtual workplace with a real workplace. In fact, this has already become a reality.

A Korean company Zigbang has created a VR office spanning 30 floors and the avatars of employees can move around the office. As they encounter other avatars, their mike would be activated. They can then have a real conversation through the virtual world. This can make communication more effective. This was a drawback in remote working and with virtual communication enabled, the virtual workplace would be more effective.

Young people in workplaces would enjoy creating virtual avatars of themselves. They can allow their creativity to run amuck as they create an avatar of themselves. They can make the avatar look how they want it to be.

How Would The Metaverse be?

The metaverse is different from VR (Virtual Reality) and AR (Augmented Reality). There would be many changes that are significant. Devices like the mouse and keyboard would no longer be needed. Voice would be the main way in which communication happens. Voice instructions would help operate the metaverse.

The main feature of the metaverse is the use of virtual assistants. Virtual assistants would play an important role in the metaverse. Their primary interface would be a voice and not commands typed on the keyboard. People are ready to use voice today, thanks to Siri and Alexa. Voice commands are used on mobile phones and computers.

Voice search has become popular on Google with many people preferring speaking to Google rather than typing. Smart speakers have today become the norm. It is estimated that the smart speaker market would be worth more than $61 billion by 2024. The integration of smart speakers with Artificial Intelligence is making virtual assistants more useful.

Work in the metaverse
photo credit: Kampus Production / Pexels

Takeaway

In the virtual world of business, people would talk to virtual assistants using voice. Virtual assistants would have a major role to play in all types of businesses going forward.

It would be important to understand who or what a virtual assistant would be in the metaverse. A virtual assistant can be a software program or can even be a person who helps and guides users in the metaverse. The program can be AI-powered. When real people function as virtual assistants, they would be those who are skilled or specialized in the area of work.

The virtual assistant can make your life easy in the metaverse. They can help you keep track of your work and remind you of the things to do. They can even help you in your personal life with cooking, fitness tips, and even dating advice. Virtual personal trainers and virtual child care providers would be available to help you in the metaverse. These virtual assistants will be able to do more in the virtual world than in the real world.

Entrepreneurship

SAP Plant Maintenance: Everything You Need to Know

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Most plant operators today perform various duties and tackle many challenges. If not handled right, these challenges could lead to disasters, such as downtimes, production losses, and higher operational costs. So, it would help if you kept the operations smooth as a SAP plant manager or operator by mitigating the risks involved.

For this, you can use SAP Plant Maintenance (PM,) explicitly designed to handle the challenges of modern plants and help operators manage things efficiently, leading to better optimization.

Steel machine maintenance
photo credit: Kateryna Babaieva / Pexels

Here, you will learn about the core components of SAP PM, its benefits, and operations.

What is SAP Plant Maintenance?

You can integrate the core components of SAP Plant Maintenance to other modules, including Material Management (MM), Quality Management (QM), Production Planning, Sales and Distribution, Finance, Controlling, and HR (Human Resources).

SAP PM allows you to automate the tasks involved in these processes, including maintenance and repairs. Besides this, it also lets you manage assets by documenting, identifying, and handling issues with them. For these tasks, you can use the following three modules to plan maintenance tasks and manage technical objects, equipment, workflow notifications, and orders.

Moreover, you can also integrate SAP PM with other modules. The data is always up to date and helps trigger functions in the processes as required. Besides this, you can record problems, plan labor and material procurement activities, and settle costs.

Why Do You Need SAP Plant Maintenance?

Every plant operator must ensure that all the processes and components function smoothly to reduce downtimes and operational costs. So, to manage the plant successfully, you will need a stringent regime that is efficient and optimizes plant equipment effectively. SAP Plant Maintenance helps in this by:

1. Identifying Conditions

You can preschedule the inspection process so that SAP PM can establish the equipment’s current condition.

2. Restoring Functions to Optimal State

After inspecting the condition of plant equipment, you can schedule SAP PM to perform repairs as required to restore functioning to an optimal state. The optimal state, in this case, would be to carry on without any interruptions.

3. Maintaining Current Conditions

You can also schedule SAP PM for regular plant maintenance to minimize breakdowns. In this process, SAP Plant Maintenance locates possible weak spots in the equipment and regularly inspects them, performing minor repairs, if required.

Objectives of SAP Plant Maintenance

SAP PM ensures that all the equipment in the plant functions smoothly, without any interruptions. Also, by offering continual support, Plant Maintenance makes sure that all systems are always up and running, thus, minimizing disruption in the production process.

The cost incurred due to breakdowns can be significantly high. However, SAP Plant Maintenance ensures no such breakdowns occur and helps prevent productivity losses.

Drinks production plant in China

Benefits of SAP Plant Maintenance

SAP PM is helpful for specific users, including Maintenance and Operational Managers, Maintenance Staff and Technicians, Production Line Workers, and Purchase Departments.

1. Maintenance and Operational Managers

SAP PM helps Maintenance and Operational Managers get the information they need regarding equipment performance and maintenance requests. The modules can help simplify the entire maintenance process and the decisions concerning reporting work plans, work in progress, and work completed. Moreover, the management can also benefit from Plant Maintenance. They can use them to plan the budget required for equipment maintenance, including replacement, recording maintenance history data, and the relative costs involved in these processes.

2. Maintenance Staff and Technicians

SAP PM can help Maintenance Staff and Technicians smoothen the processes, making them more efficient.

3. Production Line Workers

Production Line Workers can use SAP PM to manage maintenance problems and improve the overall efficiency of production processes.

4. Purchase Department

SAP PM helps purchase departments buy the equipment required, including spare parts, to help ramp up the production process.

Final Thoughts

All businesses have production processes, and they will need to implement stringent measures to ensure that the plant functions smoothly. SAP PM helps with this by providing a comprehensive solution to manage the production and maintenance processes by mitigating the risks involved.

Moreover, integrating SAP PM with other modules helps such as Materials Management, Quality Management, Sales and Distribution, Finance, Control, and Human Resources, can help achieve maximum overall efficiency.

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Entrepreneurship

You Deserve the Buzz – 6 Strategies to Attract Earned Media Mentions

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Your growing business probably relies on multiple digital marketing and advertising channels to grow its audience, drive conversions, and increase sales. You also probably spend more on these channels than you’d like. And the ROI isn’t always there — “feast or famine” is the norm in this business.

There’s another strategy you should consider: attracting earned media mentions.

True earned media doesn’t drive conversions and revenue directly because there’s no built-in conversion function. These mentions stand apart from your sales funnel.

Brand mentions

And yet earned media has higher potential ROI than any paid digital marketing or advertising channel. That’s because successful mentions not only build buzz but convey credibility. Channels you touch directly can’t do this because savvy prospects know you have a heavy hand in them.

Want to make earned media work for your growing business? Use these strategies to attract more organic mentions and build quality buzz around your brand.

1. Focus on Your Origin Story

Your origin story might be old news to you, but it’s compelling to others. Focus on the parts that set you apart from your fellow founders — specific instances of adversity earlier in your business journey or before, for example.

Make sure your story is relevant to where you are in the present day, of course. This profile of Steve Streit, founder of pioneering neobank Green Dot, is a great example — a clear through-line from Streit’s challenges  early in Green Dot’s growth to his current successes.

2. Give “Friendly” Interviews That Are Likely to Be Published

Streit’s profile is also an example of a “friendly” interview: a media encounter that’s likely to result in publication. (You’re probably aware that many media interviews never produce anything tangible.)

It’s not easy to find friendly interviews. Search for your closest competitors online (or entrepreneurs you consider peers — they don’t have to be competitors) and look for positive media mentions in smaller, niche publications that seem hungry for content. Focus your pitches there.

3. Make Yourself Available on HARO

Help a Reporter Out (HARO) is the best digital platform for people seeking earned media exposure in high-value outlets. Create a source account (not a reporter account) and provide as much detail as possible about what you can offer. Then, sign up for relevant query emails and respond quickly when you see an opportunity.

Public Relations agency

4. Build Your Own Media List (Local and Niche Are Best)

HARO isn’t perfect, and you can’t count on PR pros adding you to their own source lists before you’ve attracted significant earned media attention.

So get a head start by building your own media list. The highest-value targets are local outlets and niche publications relevant to your industry. Both tend to have high content needs and lower standards (no offense) for sources. Pitch them when you have a truly compelling piece of news to share — but less is more here, or you risk turning them off.

5. Draft and Send “Articles for Consideration”

This is a controversial idea, and it does require more work on your end, but it can absolutely pay off. For various reasons, most true earned media publications won’t run prewritten articles, but some do pull quotes from them or use them as context (with attribution). So the time spent drafting these pieces could be offset by the time saved not sitting for interviews.

6. Be Active and Eye-Catching on Twitter

Finally, have an active presence on Twitter specifically, even if you’re not familiar with or a fan of the medium. As the media’s favorite social media platform, it’s a necessary evil.

Don’t Expect Them to Do All of the Work

Earned media is not a totally passive investment. As we’ve seen, you have to do a lot of work upfront to attract even one mention, and any one mention isn’t guaranteed to gain traction with your prospects.

But that doesn’t mean you shouldn’t try. Investing in earned media now, as you’re growing, helps build a baseline of credibility and visibility that you’ll be glad you had.

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Entrepreneurship

Why Real-Time Tracking is Essential for Efficient Supply Chain Management

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With the massive increase of online shops and shoppers in the digital marketplace, the number of shipping and delivery options also grows. Online consumers enjoy being able to track their packages and watch as they get closer to their destination. Apart from the serotonin boost, it gives the customers waiting for their parcel.

Why is real-time tracking essential, especially in having a more effective supply chain management? Read on to find out.

Package delivery

What is Real-Time Tracking?

A real-time tracking system, sometimes called Real-time locating system (RTLS), is a tracking method that utilizes or uses GPS together with logistics databases to track or identify the exact track and location of any parcel at any given time.

The collected data, through the help of GPS and logistics databases, are updated in real-time for immediate access and assessment. The process of real-time tracking allows the customer to obtain information about the whereabouts of their parcel in the whole supply chain.

Keeping track of the packages released by the company brings a lot of impacts not only on the company’s reputation but also on the effective management of its supply chain.

The primary objective of real-time tracking is to provide transparency so necessary alternative routes can be taken when dilemmas and problems occur.

Supply chain management (SCM) includes product development, sourcing, production, and needed information systems and logistics to coordinate these activities. A chain and network of suppliers are made to manage the supply chain that transports products, raw materials, and suppliers.

How Does Supply Chain Management Work?

Supply chain management encompasses all aspects of the manufacturing process, from the procurement of raw materials to the delivery of finished items. Keeping operations operating smoothly is an essential part of supply chain management to provide customers better value and stay ahead of the competition.

According to supply chain management (SCM), most products on the market result from many companies working together to produce them.

Contrary to popular belief, firms are now starting to recognize the importance of supply chains as a strategic asset. Using supply chain management, businesses can deliver goods faster, guarantee that items are always accessible when required, eliminate quality concerns by doing regular quality checks, and make returns easier, eventually increasing value for both the business and its consumers.

Supply chain manager managing warehouse

How Can Real-Time Tracking Help Improve the Efficiency of Managing the Supply Chain?

Real-time tracking of any parcel or package delivery plays a vital role in the whole supply chain management.

It Reduces the Risk of Loss

Having real-time updates regarding the parcel’s precise and accurate location can help identify whether the package is going through heavy traffic or delays. Through this, alternative routes, solutions, and other necessary measures can be taken to handle the traffic.

On the company’s end, the supply chain is also being monitored by the corporation’s stakeholders.

Real-time tracking provides transparency and accurate information, which improves the reliability and good reputation in both the customers’ and the stakeholders’ mentality.

When deliveries are delayed, the company’s following the best alternative route would also leave a good and better impression regarding the company’s handling and management of a crisis.

It Enhances Effective and Productive Decision-Making

A supply chain manager must have good decision-making skills in taking movement or decisions related to the company’s goods and services.

Gathering the necessary information from the real-time tracking and assessment of these data will help the decision-maker identify the best solution or alternative way to the problem.

In line with the reduction of loss, real-time tracking also improves the ability of a company to arrive at a sound decision when delays occur.

Since real-time monitoring allows the company to find issues in no time, the company will be able to manage the problem and provide profoundly suitable solutions promptly before the situation worsens.

A deliberate method of processing the data obtained through real-time tracking will define alternatives and organize the information into thoughtful decisions.

Having a sound judgment amidst the technological errors and delays would also bring about good impacts and impressions of the company to the stakeholders, clients, and future customers.

On the other hand, arriving at a wrong and inappropriate decision can result in adverse consequences, even risking existing customers and clients.

It Practices Transparency and Improves Customer Service

Customer service is among the most pivotal components of the logistics and the management of the supply chain. Without customer service, the company would be unable to attract customers and sell its goods and services.

Real-time tracking would practice transparency, which in turn produces trust and goodwill. Aside from this, it also protects the company’s reputation among its business partners, prospects, investors, employees, and stakeholders.

Transparency also leads to better customer service since the customer would prefer to be involved in the overall process concerning their product. Customer service plays a vital role in improving the supply chain.

Good relations with the customer through exemplary customer service would also create a good image for the company.

What Do These Mean?

In a general sense, real-time tracking would improve the supply chain management efficiency since most customers value transparency as it is typically associated with openness and honesty. In addition to this, any crises that will arise during the shipment process will be immediately determined and resolved.

Despite being deployed in several places, having real-time tracking through GPS still allows the company to have direct control and management over the vehicles carrying the parcels.

Together with increased productivity, this also reduces other costs that may be triggered when problems arise. As a result, comprehensive supply chain management would become more efficient and effective.

Supply chain

Conclusion

Efficacious supply chain management primarily relies on precise and fast-tracking products, from raw materials to goods or services. Information and data concerning the parcel’s whereabouts benefit the customer, company, and stakeholders. Thus, companies need to have a reliable and transparent shipping partner.

Tive allows you to track your packages through GPS anywhere in the world. With transparency as our priority, Tive would lessen your worries and boost your excitement in waiting for your order to reach your doorstep.

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