5 Machine Learning Techniques with Python

Are you interested in learning some machine-learning techniques with Python? Do you want to explore the amazing world of data science and artificial intelligence? If yes, then you are in the right place!

Imagine using the power of machine learning to train a computer to identify faces, forecast market prices, identify illnesses, or even create beautiful music. With Python as our reliable ally, we can open up this fascinating intelligence world. The possibilities are endless.

You might wonder, “Why Python?” In addition to being the preferred language for data scientists and top IT organizations globally, Python is a great choice for novice programmers and seasoned experts due to its elegance and simplicity. Python will therefore be your dependable travel companion, whether an experienced programmer or a novice taking your first steps into coding.

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In this blog, we will share five machine-learning algorithms in Python that you can use to solve real-world problems and have fun. 

Let’s get started!

What are the top Machine Learning techniques in Python?

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  • The Charm of Linear Regression

One of the most well-known supervised Python machine learning algorithms, it keeps track of continuous characteristics and makes predictions based on that information. By fitting the best line, it demonstrates a link between dependent and independent variables. The linear equation Y=a*X+b, sometimes called the regression line, depicts this best-fit line. 

In the given equation,

  • Y: dependent variable
  • a: slope
  • X: Independent variable.
  • b: Intercept

Imagine having the ability to predict future trends based on historical data. Linear regression is like having a crystal ball for predicting continuous numerical outcomes. It’s perfect for tasks like estimating sales, forecasting weather, or predicting your favorite sports team’s chances of winning the championship!

  • Enchanting Decision Trees

Decision trees are like magical flowcharts that help computers make decisions based on input features. They are incredibly versatile and can be used for classification and regression tasks. 

A decision tree is created by continually posing queries to the partition data. The decision tree algorithm’s objective is to improve predictability at each level of partitioning so that the model is constantly updated with knowledge about the dataset. 

It is a Supervised Machine Learning method. However, classification rather than regression is its primary use. The model uses a conditional statement to compare key attributes as it moves through the decision tree using a specific instance. Depending on the outcome, the more significant characteristics are nearer to the root as it descends to the tree’s left or right child branch. 

  • The Sorcery of Support Vector Machines

Support Vector Machines (SVM) are like magical wizards that can perform classification and regression tasks. They are excellent at drawing decision boundaries and are widely used in image recognition, text classification, and medical diagnosis.

One of Python’s most significant machine learning algorithms is supervised classification, or SVM, which draws a line dividing your data into several groups. We compute the vector to optimize the line in this ML algorithm. This will make sure that each group’s nearest point is also the one that is the farthest away from it. This is nearly always a linear vector, although it can be anything else.

  • Bewitching Naive Bayes

Naive Bayes is like a mystical potion that works wonders in text classification, spam filtering, and sentiment analysis. It’s based on the Bayes theorem and assumes that features are independent of each other (hence the “naive” part). But don’t let the simplicity fool you; it’s a potent technique!

A supervised machine learning method called Naive Bayes is utilized for categorization problems. One of the reasons it is sometimes known as a Naive Bayes Classifier is because of this. It is predicated on the idea that characteristics are unrelated and have no association. However, this algorithm is called “naive” because these presumptions are false.

The Bayes theorem, which is used in this procedure, states:

p(A|B) = p(A) . p(B|A) / p(B)

This is

  • p(A): Probability of event A
  • p(B): Probability of event B
  • p(A|B): Probability of event A given event B has already occurred 
  • p(B|A): Probability of event B given event A has already occurred
  • Enigmatic K-Nearest Neighbors

This Python machine-learning technique focuses mostly on classification but also includes regression. This approach for supervised learning compares distance using a typical Euclidean function while considering various centroids. It then evaluates the findings and assigns each point to a group to best position it concerning all nearby points. 

It categorizes fresh situations by employing a majority vote of k of its neighbors. The case it assigns to a class is the one its K closest neighbors share the most. It makes use of a distance function for this.

The Final Words

Although you now understand the fundamentals of five effective machine-learning strategies, remember that learning is a lifelong process. The subject of machine learning is constantly developing and is teeming with intriguing new developments. Embrace the thrill of staying curious, exploring new algorithms, and continuously enhancing your skills.

Your newly gained knowledge in Machine Learning with Python opens the doors to various professional prospects and exciting initiatives, from forecasting stock market trends to detecting diseases, from making tailored recommendations to transforming industries.

But let’s not lose sight of the fact that machine learning is about more than just models and algorithms; it’s about making a difference in the world. 

Early and mid-career professionals may gain a firm foundation in the dynamic field of data science and machine learning by enrolling in the “Certificate Program in Data Science and Machine Learning,” which is presented in collaboration with iHUB DivyaSampark (TIH) @ IIT Roorkee and Imarticus Learning. 

This in-depth 5-month data science course, created by acclaimed IIT professors, covers data mining, gives you Python-based machine learning tools, and allows you to use data-driven insights to spur organizational success. Enroll now to embark on a transformative journey of learning and upskilling with Imarticus Learning Machine Learning online course with Python.

Keep learning, keep growing, and keep reshaping the world with Python and Machine Learning!

6 Pros And Cons Of Tableau Data Extracts V/S Live Connections

The main goal of Data Analytics and Visualisation is extracting insights from raw data. You have to connect and interact with data from many sources to derive meaningful results. Businesses worldwide use a tool like Tableau to get this job done. One of the most powerful tools in this domain, Tableau, offers two ways to interact with data. To learn more about this domain, you can always pick a data science course that can boost your career in data science to new heights.

Join us as we unveil the meaning of these two methods. By navigating through the pros and cons of each method, you will realise the true potential of data visualisation.

Let’s get started!

What are Data Extracts?

Simply put, Tableau creates a condensed version of data called data extracts. They are stored separately from the source. These data extracts are minor in size as they only contain data required for visualisation.
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Pros of Data Extracts

Flexible Data Modelling: You get more power to customise data extracts. Through this mechanism, you can perform the following actions.

Creating calculated fields

Performing custom calculations

Defining hierarchies within the extract

Enhanced Security and Data Governance: Extracts provide a layer of security for your data. Through its encryption, you can protect your data with a password while sharing it with external parties. This capability helps you in cases where you are strictly expected to comply with privacy regulations.

Local availability: Data extracts can be locally stored on your system. You can work on them without connecting to the source. Data extracts provide flexibility as you can manipulate and shape data without an internet connection.

Cons of Data Extracts

Data Latency: You can expect data latency as the extracts are locally available. You will have to refresh the extracts to reflect the latest information in your insights and visualisations. This results in a significant delay between when data was changed in the source and when it was updated in the extract

Complex Extract Creation: Creating extracts requires more steps than a live connection. Beginners might need help to perform the following tasks for extract creation.

Defining data connection settings

Selecting data fields

Configuring filters

Managing data refresh schedules

Data Duplication: Extracts are stored locally. If you don’t refresh them frequently, discrepancies could occur with the source. This leads to confusion and unreliable analysis.

What are Live Connections?

Unlike data extracts, live connections are dynamic. Through them, you can interact with data in real-time. When you establish a live connection, Tableau retrieves data from the source whenever you interact with the visualisation.

Pros of Live Connections

Reliable Analysis: The generated analysis is trustworthy as you always work with real-time data from the source. Any changes in the source are instantly reflected in the visualisation.

Centralised Data Governance: Tableau establishes a direct connection to the data source. Tableau enforces the access controls and security protocols of the source. Thus, you can maintain centralised security protocols and governance.

Real-time Collaboration: Live connections allow multiple users to work with the same data source. They can access and interact with the visualisations in real-time.

Cons of Live Connections


Strain on Data Source: You should use a data source sparingly. This can strain the source because of repeated requests. Others accessing the same source could observe decreased performance.

Compatibility Concerns: Tableau and the data source must run on the latest updates. The versions they are operating on must be compatible with each other. Any update on Tableau requires changes in the data source as well.

Limited Data Shaping: Unlike extracts, live connections do not allow customisations. You may have to perform calculations and transformations in the source before visualising in Tableau.

Learn more from a Data Science Course. 

If your business requires insights from real-time data, work with “live connections.” However, “data extract” is your go-to mechanism if offline availability is your priority. Learn more about it by taking a Data Science course. Imarticus Learning offers many courses from top educators to make you job-ready. For any inquiries, connect with us through chat support on our Contact Us page. Our training centers are conveniently located in Mumbai, Thane, Chennai, Pune, Bengaluru, Delhi, Gurgaon, and Ahmedabad.

Frequently Asked Questions

Why is Tableau used in data science?

Tableau stands out as a leading tool in business intelligence (BI), aiding users in crafting various visual representations such as charts, graphs, maps, dashboards, and stories. With a rich set of distinctive and compelling features, Tableau has earned its popularity by empowering users to visualise and analyse data, facilitating informed business decision-making effectively.

Tableau is suitable for what kind of data?

Renowned as the forefront solution in contemporary business intelligence, the Tableau platform seamlessly extracts data from diverse sources and transforms it into actionable insights swiftly and effortlessly.

What topics are involved in the data science course?

A beginner-level Data Science course syllabus encompasses fundamental and advanced principles in data analytics, machine learning, statistics, and programming languages like Python or R.

The Importance of Effective Procurement Management

Effective procurement management is an unsung hero who holds enormous power in a world where organizations continuously compete for success. Imagine a master conductor creating a seamless symphony of cost reductions, supplier negotiations, and supplier relationships.

That is the power of procurement management, the unsung force that powers businesses and helps them reach new heights. It’s the key component that turns average companies into leaders in their field. 

Purchases of products, services, or other works from an outside source are made through the procurement process, which is frequently done through a tendering or competitive bidding procedure. The phrase may also describe a legal duty to “procure” to “ensure” something is done. This kind of purchasing is known as government or public procurement when a government agency uses it.

So fasten your seatbelts and come along on this fascinating ride as we explore “The Importance of Effective Procurement Management.” Prepare to see how an unsung hero may alter a company’s course by strategically constructing a picture of success. 

Significance of Efficient Procurement Management

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Directing and managing the many procurement-related operations is referred to as procurement management. It comprises the procedures needed to manage the procurement of products and services, write purchase orders, and even maintain records. 

It’s your responsibility as a procurement manager to achieve the highest return on the money spent on the equipment, office supplies, raw materials, and other supplies needed to run a firm. Every size of organization needs effective procurement management. Money may be saved, productivity can be increased, and danger can be decreased. 

The role of procurement in reducing operational costs and streamlining operations

A career in digital supply chain management has great potential for success. From entry-level jobs to senior management positions, it https://imarticus.org/a-guide-to-pursuing-a-career-in-supply-chain-management/provides a range of options. The need for supply chain managers is considerable, and employment opportunities are anticipated to increase.

  • Streamlining Operations and Reducing Costs

One of the primary reasons why effective procurement management is crucial for businesses is its ability to streamline operations and reduce costs. Organizations can optimize their supply chain, eliminate inefficiencies, and enhance productivity by implementing robust procurement practices. Through strategic sourcing and negotiation, procurement professionals can secure favorable pricing and contract terms, resulting in cost savings for the company.

Moreover, effective procurement management helps minimize the risks associated with poor-quality goods or services. By conducting thorough supplier evaluations and quality control processes, businesses can ensure they receive products and services that meet their standards, reducing the likelihood of costly defects, delays, or rework.

  • Supplier Relationship Management

Establishing and nurturing strong supplier relationships is another significant aspect of effective procurement management. Collaborating closely with suppliers enables businesses to access valuable market insights, innovative solutions, and new product developments. By maintaining healthy supplier relationships, organizations can enhance their competitiveness and gain a competitive advantage in the marketplace.

  • Strategic Decision-Making

Effective procurement management provides valuable data and insights that enable informed decision-making. Through robust procurement processes, businesses can gather market intelligence, analyze trends, and identify opportunities for cost savings or process improvements. Procurement professionals can leverage this information to develop strategic sourcing strategies, select reliable suppliers, and make informed purchasing decisions that align with the organization’s objectives.

Additionally, procurement teams can contribute to cross-functional initiatives and drive innovation by collaborating with other departments, such as finance, operations, and marketing. They can provide valuable input on product design, cost optimization, and sustainability, ensuring that the organization’s procurement activities align with its strategic goals.

  • Enhancing Risk Management

Effective procurement management also plays a crucial role in enhancing risk management within organizations. Procurement professionals are responsible for evaluating suppliers’ financial stability, ethical practices, and compliance with regulatory requirements. Businesses can mitigate the risks associated with unreliable suppliers or potential legal issues by conducting thorough due diligence.

What are the benefits of efficient procurement management?

Supplier collaboration in procurement is a strategic approach that emphasizes fostering strong and mutually beneficial relationships with suppliers. Beyond the typical buyer-supplier relationship, it creates a partnership based on mutual respect, openness, and goals.

  • Save money: By negotiating better pricing with suppliers, effective procurement management may help you save money on your purchases. This might free up resources that could be used for other initiatives, including marketing or R&D.
  • Enhance effectiveness: You may enhance the effectiveness of your procurement process by using effective procurement management. This may result in shorter turnaround times, fewer mistakes, and a better-organized procedure.
  • Reducing risk: You may lessen the chance of supply disruptions or price hikes by using effective procurement management. This may help safeguard your company against monetary losses and guarantee that you have access to the goods and services when you require them.
  • Build connections: Effective procurement management may create and maintain strong connections with suppliers. 

The Final Words

Effective procurement management is paramount for businesses seeking to thrive in a competitive market. Organizations can achieve operational excellence, drive growth, and maintain a competitive edge by streamlining operations, reducing costs, nurturing supplier relationships, making strategic decisions, and enhancing risk management. 

Investing in a well-defined procurement strategy and empowering skilled professionals in the field can yield significant long-term benefits for businesses across industries. Organizations can unlock opportunities, mitigate risks, and position themselves for sustainable success by prioritizing effective procurement management.

The Professional Certification in Supply Chain Management and Analytics, provided in collaboration with CEC, IIT Guwahati, and business pioneers, offers a cutting-edge educational experience designed for anyone looking to succeed in the operations and supply chain sector. Imarticus Learning, renowned for its expertise in professional education, brings you this cutting-edge certification program that equips candidates with the necessary skills and knowledge to excel in this dynamic field.

This credential equips professionals to make strategic, operational, and tactical choices based on data-driven insights by incorporating Supply Chain Analytics into the curriculum. People with a mix of process and analytics skills are in high demand in today’s quickly changing supply chain management environment. This qualification serves as a catalyst, enabling you to qualify for in-demand positions.

Top Tools for Effective Project Management

Whenever there are multiple heads involved, especially in a remote setup, streamlining tasks can get hectic, which is why a lot of organisations prefer using project management tools. If you aspire to have an excelling project manager career, having knowledge of these tools can give you a competitive edge in the industry. 

Let’s analyse why project management tools can boost your productivity and efficiency to complete organisational duties while taking a deep dive into learning which are the best project management tools!

Why do Businesses Resort To Project Management Tools? 

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While advancing time and increasing inclination towards technology is definitely a reason why project managers are transitioning from traditional to modern project management approaches, we should also consider the benefits of using project management tools. Some of these are:

  • They help make projects more efficient.
  • Declutter work and help keep information at easy disposal. 
  • Offer integration with other technologies used in the company.
  • Has better recording and tracking facilities, reducing the chances of misplacing information. 

These are also the reasons why you would learn to use these project management tools as a part of a general management training program aiming to enhance your project management skills. 

Top Project Management Tools For Efficiency 

To help you navigate the best tools in business, let’s navigate these 8 project management tools that are used across SMEs to MNCs to enhance efficiency. 

1. Asana

Asana is a project management tool suitable for enterprise companies. The tool has an intuitive user interface that is easy to use. The templates are highly customisable and are great for visualising a project timeline. 

The tool’s integration is quite vast and can be integrated with other applications like Slack, Google Calander, Dropbox, Outplanr, Unito, etc. 

2. Trello

Trello is best for businesses that don’t require managing a complicated project and much visualisation. The tool has a Kanban-board style, where one can build project tasks under different boards with labels. 

The pros of this tool are that it is uncomplicated, has a drag-and-drop facility, and can be used with power-ups like calendar views, Google Drive, and quick file sharing. Its most popular feature is Butler, which helps automate preset groups of tasks. 

3. Workzone

This is one of the oldest web-based software used for project management since 2000, which helps us understand the fact why it is so minimal and fluff free. It creates a project dashboard where task statuses and subtasks, due dates, and assignees are visible. 

4. Monday.com 

It is an online tool mostly used by small businesses and offers a broad spectrum of apps. The third-party collaboration facility makes it easier for team leaders to add as many third-party agents as they want, with the ability to customise their access rights. 

It has an Open API architecture that allows adding custom integration. It is best for businesses that primarily work with freelancers and agents. 

5. Jira

Businesses or projects that have an agile approach often use this software. The agile approach is where the business often performs dynamic tasks like shipping, launching, announcement-making, hosting Q&A sessions, etc. 

The projects that use a Scrum process are also a great fit for this tool as it helps a team to form and iterate quickly. 

6. Airtable

Rather than being a conventional project management tool, Airtable is software that lets businesses build their very own project management tool with little to no coding. It is mostly used by businesses that prefer overseeing the backend activities of their project management software. 

7. Wrike 

Wike is software for businesses that are primarily focused on managing clients. The tool has stackable storage and security that is uncomplicated. The software creates common storage for clients and companies where both parties can access information. 

8. Smarsheets

As the name suggests, it is a smarter version of traditional spreadsheets and is usually used by businesses that have been using spreadsheets for a long time to manage their projects and are more comfortable working with that layout. However, unlike the traditional spreadsheet, this tool has more options to explore, like time tracking with a timesheet. 

Final Thoughts 

If you are planning to start a career in project management or already pursuing one but wish to update your knowledge, you should definitely consider the 22nd General Management Program IIM Ahmedabad, offered by Imarticus. This IIM general management program is specially designed to enhance one’s managerial capabilities and prepare them for senior general management responsibilities. 

Therefore, if that is something that interests you, register now.

What are the Benefits of Investing in a Leadership Program?

Step into a world where ambition meets opportunity, passion collides with innovation, and leaders are crafted with precision and purpose! 

The demand for extraordinary leadership has never exceeded today’s fast-paced, constantly-changing corporate environment. Climbing the corporate ladder isn’t the only goal; creating industry revolutions, motivating teams, and making a lasting impression on the globe are.

Investing in a leadership program starts a chain reaction affecting more than just your personal goals and career. As a strong leader, you become a force for good change within your company and society. Your potential to inspire greatness in those who follow in your footsteps will result from your influence, vision, and capacity to empower others.

This blog post will unveil the Executive Leadership Program Benefits, showcasing the incredible advantages of investing in a leadership program. This life-changing adventure will mold you into the leadership rock star you were meant to be. 

Prepare for an exciting expedition that will unlock your hidden potential and propel your career to brilliant new heights, fasten your seatbelt, light your inner fire, and get ready to explore!

What are the advantages of investing in a leadership program?

Various attributes are included in leadership skills for career growth, enabling people to succeed in their professional endeavors. Communicating effectively is crucial because effective leaders must do it with empathy and clarity. Strong decision-making skills are crucial because they allow leaders to face problems with assurance and guide their teams to success. 

Since the corporate environment is always changing, executives must embrace change and take advantage of new possibilities. Encouragement of innovation promotes creativity and ensures that businesses remain competitive in fast-moving markets. Equally important are conflict resolution skills, which enable leaders to handle differences constructively and preserve a positive work atmosphere.

Importance of Leadership Training for Personal Growth

Leadership development increases a person’s capacity to function in organizational leadership roles. The implementation of an organization’s plan is facilitated by leadership positions that foster alignment, capture the attention of others, and develop their talents. 

  • Enhanced Decision-Making Skills

Leaders are often faced with critical choices that can significantly impact the success of their teams and organizations. Through structured training and real-life simulations, participants in leadership programs can develop their ability to confidently make informed and strategic decisions.

  • Improved Communication and Interpersonal Skills

Effective communication is the cornerstone of leadership. A leadership program provides a platform for individuals to improve their communication and interpersonal skills. Participants learn to articulate their ideas clearly, actively listen to others, and foster a positive and collaborative work environment.

  • Enhanced Emotional Intelligence

Emotional intelligence is a crucial trait for any leader. Stronger connections and improved team spirit can result from understanding and controlling emotions in oneself and others. Leadership programs often include modules focusing on emotional intelligence, helping participants become more empathetic, approachable, and supportive leaders.

  • Increased Self-Awareness and Personal Growth

Leadership programs encourage self-reflection and self-awareness. Participants are allowed to identify their strengths, weaknesses, and areas for improvement. By recognizing their personal growth areas, individuals can take targeted actions to become better leaders and reach their full potential.

  • Effective Conflict Resolution

Conflict is inevitable in any workplace, but a leader’s ability to manage and resolve conflicts can significantly affect team dynamics. Leadership programs often include training in conflict resolution, equipping participants with the skills to address conflicts constructively and maintain a harmonious work environment.

  • Empowered Employee Engagement

Investing in a leadership program benefits the leaders and the entire workforce. Effective leaders inspire and motivate their teams, leading to increased employee engagement. Engaged employees are more productive, loyal, and dedicated to achieving the organization’s goals.

  • Nurturing Innovation and Creativity

Leadership programs encourage out-of-the-box thinking and innovation. Participants are exposed to various problem-solving techniques, creative brainstorming sessions, and ways to foster a culture of innovation within their teams. This nurturing of creativity can lead to groundbreaking ideas and solutions that propel the organization forward.

  • Enhanced Adaptability

Adaptability is vital for survival and success in today’s rapidly evolving business landscape. Leadership programs often incorporate activities that challenge participants to adapt to change and uncertainty gracefully. This ability to embrace change can help leaders steer their teams through challenging times with resilience and determination.

  • Building a Strong Network

A leadership program provides an excellent opportunity to build a network of like-minded individuals. Participants can connect with peers from diverse industries and backgrounds, share experiences, and gain valuable insights. 

  • Long-Term Organizational Benefits

Lastly, investing in leadership development yields long-term benefits for organizations. Well-trained leaders can foster a positive work culture, attract top talent, and retain skilled employees. Additionally, effective leadership reduces employee turnover, boosts productivity, and contributes to overall organizational success.

The Final Words

Investing in a leadership program can be a game-changer for individuals and organizations. The benefits of enhanced decision-making skills, improved communication, emotional intelligence, and adaptability contribute to the growth and success of leaders and their teams. 

Moreover, nurturing innovation, empowering employees, and building strong networks create a positive and thriving work environment. By understanding the Leadership Development Program Advantages, individuals and organizations can unleash their complete potential and attain unprecedented success in the constantly changing business landscape.

The General Management Programme for executives has been a flagship executive offering by IIMA in Dubai since 2010, with over 20 batches completed. Imarticus Learning is honored to have worked with IIMA to create this outstanding product. The goal of the general management program, which was created and customized for the area, is to improve participants’ managing skills and position them for future senior general management positions. 

Given the circumstances, a piece of the program will be delivered in person in Dubai. At the same time, a different part will feature an immersion campus experience at the IIM Ahmedabad Campus in India. A thorough and beneficial learning experience will be provided for the remaining sessions through live, interactive virtual classrooms.

So, take the first step toward becoming a better leader or empowering your workforce by enrolling in a leadership program today!

7 Metrics to Measure Supply Chain Performance

Measuring supply chain performance is crucial for every business organisation as it helps identify areas of improvement, optimise efficiency and enhance overall productivity. In order to achieve the same, various industries deploy multiple metrics and key performance indicators. Such include perfect order index, supply chain cycle time, and inventory turnover, among others. 

With that being said, here is a detailed article highlighting the seven most effective metrics to help evaluate your supply chain performance. 

Inventory Turnover

Simply put, inventory turnover refers to the total number of times your entire inventory has been sold during a specific period of time. The formula for the same goes as follows,

Inventory turnover = Cost of goods sold/ Average inventory.

It is a key metric that helps to assess how efficiently an organisation manages its inventory. For example, a high inventory turnover rate signifies that inventory is sold quickly with minimal excess stock. Simultaneously, a low inventory turnover rate indicates weak sales performance and inefficiencies in the supply chain process. However, inventory turnover benchmarks usually vary across different industries. 

By keeping track of this inventory turnover rate, organisations can identify potential issues in their inventory management, optimise stock levels and improve the overall efficiency of the entire supply chain process.

Perfect Order Index

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Perfect Order Index is another key metric used to assess the error-free rate of the entire supply chain design. It is a composite metric, meaning it takes into account various factors such as on-time delivery, complete shipment, error-free documentation, and accurate product selection, among others. To calculate the Perfect Order Index (POI), we use the below-mentioned formula,

POI= (Number of Perfect Orders/Total Number of Orders)* 100

The higher the POI, the greater the number of orders that have been fulfilled accurately and completely, leaving no room for any form of error. By using this metric, business organisations can identify all the weaknesses in their supply chain processes and take the necessary action to rectify them.

Cash To Cash Time

Cash-to-cash time, also referred to as C2C, is another key metric deployed by various organisations to measure supply chain performance. It represents the time utilised by a company to convert its investments in inventory and other inputs into cash flow from sales. It primarily comprises three supply chain measurements, namely,

  • Days of inventory
  • Days of payables and 
  • Days of receivables

A shorter C2C time indicates an efficient supply chain performance, meaning that companies can quickly turn their investments into cash, leading to improved liquidity and financial stability. Contrarily, a greater C2C time reflects inefficiencies in inventory management, payment collection, and supplier retention. 

Fill Rate

Fill rate signifies the actual percentage of customer demand that any business organisation can fulfil from its available inventory without any backorders or stockouts. Reviewing this metric regularly helps companies to measure their supply chain performance, specifically in terms of order fulfilment. 

Let’s explore a small example of how we can calculate the fill rate.

Say, a company has received a total number of 100 orders, out of which it has been able to fulfil 95 orders without any backorders. Then the fill rate would be,

Fill Rate (%) = (95/100) *100 = 95%.

Gross Margin Return On Investment 

Gross Margin Return On Investment, commonly referred to as GMROI, enables businesses to evaluate the profitability of their inventory investments and assess the efficiency of their inventory management practices. In order to calculate GMROI, we use the following formula,

GMROI = (Gross Margin/Average Inventory Cost) * 100

Here, Gross Margin refers to the difference between the total sales revenue and the Cost of goods sold. On the other hand, Average Inventory Cost is the average value of inventory held, during a specific duration of time, such as a month or a quarter.

Warehousing Costs

Warehousing, as we all know, is by far one of the most important components of the whole supply chain process. Therefore, monitoring the Cost of the same is equally essential as it helps to provide valuable insights related to cost optimisation and process improvement. While calculating warehousing costs to measure supply chain performance, we take into consideration multiple factors, such as, 

  • Labour Costs
  • Inventory Holding Costs
  • Material Handling Costs
  • Transportation Costs and
  • Utility Costs, among others.

By thoroughly scrutinising the warehousing costs, enterprises can make data-driven decisions to streamline all their operations while simultaneously reducing costs and enhancing the overall supply chain performance.

Customer Order Cycle Time

Customer order cycle time, as the name suggests, refers to the total time taken from when a customer first places their order to the moment the order gets delivered to the customer’s doorsteps. It serves as a crucial metric for measuring supply chain performance, as it is directly related to customer satisfaction and loyalty. 

A shorter customer order cycle time can enhance a business’s overall competitiveness, resulting in increased customer retention and loyalty. In addition to this, it also plays a crucial role in identifying any bottlenecks or inefficiencies in the supply chain process.

Conclusion

Ensuring an efficient supply chain performance is important for every business, regardless of the industry type. It not only helps to enhance operational efficiency but is also effective in reducing costs and driving the overall success of a business, especially in today’s dynamic and competitive marketplace. To achieve the same, you can refer to the above-mentioned seven metrics that help to fully understand the supply chain performance of your business. 

Additionally, if you wish to gain more insight into managing the supply chain process or if you want to pursue any C-suite roles related to this industry, you can refer to various supply chain analytics course available online.

One such includes the Executive Certificate Programme for Strategic Chief Operating Officers, offered by Imarticus in collaboration with IIM Raipur.

It is a comprehensive 10-month supply chain management program specifically designed for candidates who wish to upskill their strategic, operational, and technical skills related to this field.

Python: The Beginner’s Guide to Learning a Powerful Programming Language

Have you ever wanted to create your apps, games, websites, or software? Do you feel intimidated by the complexity of coding and the endless possibilities of technology? If so, you are not alone. Many people interested in programming feel overwhelmed by the information and skills they need to learn.

But don’t worry; there is a solution: Python. Anyone may learn Python, a straightforward, adaptable, and well-liked programming language. Python has been created to be simple to read, write, and comprehend. It offers a comprehensive library of modules and packages that may assist you with practically any work, straightforward and consistent syntax, and a wealth of built-in capabilities.

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This blog will demonstrate why Python is the ideal programming language for newcomers. By the end of this post, you’ll have a strong foundation in Python knowledge and a zeal for coding.

Why Python?

Python is one of the most widely used and loved programming languages worldwide. A high-level, all-purpose programming language is Python. Its design philosophy strongly emphasizes code readability through off-side rule-based considerable indentation.

Python has dynamic typing and uses garbage collection. It also supports programming paradigms, including object-oriented, procedural, functional, and structured programming. 

But what makes Python so special?

Here are some of the main reasons why Python programming for beginners is ideal :

  • Python is easy to learn. Python has a simple and expressive syntax that resembles natural language. It uses indentation to structure code blocks, which makes it more readable and elegant. Python also has fewer keywords and rules than other languages, which means less memorization and confusion.
  • Python is versatile. Python can be used for various applications, such as web development, data analysis, machine learning, artificial intelligence, automation, game development, and more. This means you can choose the best approach for your problem and learn different ways of thinking.
  • Python is powerful. Python has a rich set of built-in data types, functions, and operators that can easily handle complex operations. Python also has a huge collection of external modules and packages that extend its functionality and provide ready-made solutions for common problems. For example, you can use NumPy for numerical computing, Pandas for data manipulation, Matplotlib for data visualization, Django for web development, TensorFlow for machine learning, PyGame for game development, and many more.
  • Python is fun. Python is not only a practical tool but also a creative medium. You can use Python to express your ideas and imagination in code. You can create interactive games, animations, art, music, or anything else. You can also explore the fascinating world of computer science and discover new concepts and techniques that will challenge and inspire you.

Python Demand in the job market 2023

By 2023, there will be a tremendous need in the job market for those with Python knowledge. Python has become a popular programming language for various businesses and occupations. Its adaptability, simplicity, and breadth of uses have helped make it popular with employers worldwide.

How to learn Python as a beginner?

Python: A potent programming language for learners

Learning Python is a fantastic experience. It starts with a straightforward curiosity or inspiration. Python may have caught your attention because of its versatility and power. You want to learn more and explore your creative potential with this potent language.

You set off on your trip. You watch videos, read tutorials, and enroll in courses. Variables, data types, operators, and control flow are all things you learn. As you create straightforward applications, Python’s potential becomes apparent.

However, Python is more than simply a language, as you learn more about it. It’s a technique for handling issues and thinking. It’s a method for producing items that are both attractive and practical. Mastering Python basics from scratch is a challenging but rewarding journey.

Learning the basics of Python requires time and work, but it is ultimately worthwhile. You’ll be able to create Python programs that are effective and strong if you have a firm understanding of the fundamentals.

  • Start with the fundamentals. Avoid attempting to absorb everything at a time. Start with the basics, and add to your knowledge as you go.
  • Exercise often. Practice is the key to learning Python. Even if it’s only a simple application, make an effort to write some code every day.
  • Build initiatives. Building projects is one of the greatest methods to learn Python. This will enable you to put the ideas you’ve learned into practice and discover how they might be used in actual situations.
  • Never hesitate to seek assistance. Ask for help if you run into trouble. You may ask questions and receive assistance in several online groups and forums.
  • Have Fun! Python training should be enjoyable. You’re less inclined to persevere if you’re not having fun. You’ll succeed if you can discover ways to make studying Python entertaining.

Mastering the Essentials – Python Language Basics

  • Variables: Variables are used to store data. Any kind of data, including integers, strings, and lists, may be sent to them.
  • Operators: When working with data, operators are employed. Operators can be logical, comparison, or arithmetic operators.
  • Expressions: Variables, operators, and values make up expressions. They may be applied to decision-making and value calculations.
  • Control flow statements: Statements that govern the execution flow of a Python program are known as control flow statements. They consist of while loops, for loops, and if expressions.
  • Functions: Reusable code chunks are referred to as functions. The def keyword is used to define them.
  • Modules: Collections of variables and functions that may be imported into other Python programs are known as modules.

Participate in open-source initiatives. Participating in open-source projects is an excellent additional method of learning Python. This is a fantastic method to interact with the Python community and get knowledge from other programmers. You may contribute to various open-source initiatives, including Django, Flask, and NumPy.  

The Final Words

Python is a good programming language for beginners who want to learn how to code and create amazing things. Python is easy to understand, versatile, powerful, and fun. You can learn Python today by following simple steps and using helpful resources. You can join the Python community and connect with other learners and experts.

A joint initiative between Imarticus Learning and iHUB DivyaSampark at IIT Roorkee, the Certificate Program in Data Science and Machine Learning seeks to provide early and mid-career professionals with a solid foundation in a career in data science and machine learning. This extensive 5-month curriculum, created by prominent IIT professors, explores data mining, Python-based machine learning tools, and using data-driven insights to stimulate organizational growth.

Automation in HR: Top HR Softwares in India

From hiring and onboarding to ensuring quality employee experience, managing all of these HR management tasks has always been challenging. To deal with these complexities, many businesses leverage the power of HR software to streamline all their operations and enhance the overall efficiency of the organisation. 

On that note, let us explore the benefits of using HR software as well as the top HR software solutions used by various organisations across India. 

Benefits Of Using HR Software

Before delving into the intricacies of the various HR software available, let’s first look at the benefits of using them.

Real-Time Analytics And Reporting 

HR software provides valuable insights through real-time analytics and reporting. Human resource professionals can monitor key performance indicators, or KPIs, study workforce trends, and make data-driven decisions to optimise strategy with the aid of HR software. 

Additionally, HR experts may utilise the data to plan and implement successful programmes to raise overall productivity levels across the board for both employees and the company, promoting a positive work environment for all. 

Significant Reduction In Manual Errors

Organisations can greatly lower the likelihood of human error by deploying the necessary HR software. Saving both time and money is possible as a result. It is now possible, for instance, to combine most modern HR software with payroll systems, which makes it much easier to manage payroll with much greater accuracy and efficiency.

Enhanced Employee Engagement

Most HR software and tools are equipped with various features, such as performance feedback tools and employee self-service portals, among others. With the help of the same, employees can quite easily access important information, request leave, and provide valuable feedback in a much more convenient and efficient manner, thus enhancing the overall engagement rate.

Apart from all these above-mentioned benefits, there are also several other advantages that you can enjoy by implementing HR software into your business. Such include compliance and legal adherence, seamless onboarding, and better performance management, among others.

List Of Best HR Software In India

According to a recent survey, as much as 74% of organisations have agreed that they wish to increase their expenditure related to HR tech in order to meet the pressing talent needs. On that note, here is a comprehensive list detailing some of the best HR software applications currently available.

Freshteam

When it comes to workforce management, nothing can beat Freshteam at its game. Packed with robust features, Freshteam is a one-stop destination for fulfilling all your HR duties. With the help of this platform, you can attract, hire, and onboard employees in a seamless and hassle-free manner. 

In addition, Freshteam allows for managing offboarding tasks, accessing employee information, and recording time and attendance. All these features make this platform a must-have for all types of businesses. Freshteam subscription starts from $50 per month, which can accommodate up to 50 active users. 

Zing HR

Moving on, Zing HR is a popular cloud-based human resource management software (HRMS) in India. It offers a comprehensive suite of HR and payroll tools that help streamline HR operations, enhance employee engagement and improve the efficiency of an organisation. Some of the key features included in this application are automated payroll processing, time and attendance tracking tools, and detailed analytics and reporting abilities. 

Bamboo HR

Some of the diverse features that set Bamboo HR apart from its other competitors are its intuitive design and easy-to-use specifications. It is an all-in-one HR software specifically useful for small and medium-sized businesses. It covers some key HR functions such as performance management, applicant tracking, payroll processing, and employee records management. 

Kredily

Established in the year 2017, Kredily is a comprehensive cloud-based HR and payroll software platform that is specifically designed to automate all HR operations for businesses in India. One of the many features offered by this platform includes its ATS, an applicant tracking system that enables HR professionals to streamline all their recruitment processes, starting from sourcing to candidate onboarding. With the help of this feature, recruiters can also manage job postings, track applications, and conduct interviews efficiently, all in one platform. What’s more? You can avail all of these HRM and payroll solutions free of cost! 

Beehive HRMS

Beehive HRMS is another fantastic platform used by many businesses pan India to streamline their HR processes. This cloud-based HR software makes it much easier for the HR team to manage their workforce easily and hassle-free. From recruitment to payroll management, you can streamline all these tasks with Beehive HRMS. Some of the many features that make this platform an invaluable tool for most business enterprises are timesheet management, travel and expense management, offboarding, and helpdesk. 

Conclusion

HR software has proved to be instrumental in empowering HR professionals to work more efficiently, improve employee experience, and make data-based decisions. The various automation capabilities and data analytics provided by these platforms give organisations that much-needed competitive edge and enable them to attract, develop and retain top talent.

If you wish to know more about such HR software or simply want to unlock your full potential in the dynamic field of HR, do not forget to check out the People Leadership and Strategic HR Management program, brought to you by IIM Lucknow, in collaboration with Imarticus Learning. This 11 months strategic HR training course will equip you with all the relevant skills and knowledge required to excel in this field. With this people leadership training program, you will also explore innumerable benefits, such as masterclass sessions, hands-on experience in managing teams, and valuable insights into management challenges. 

So what are you waiting for? 

Enrol in our comprehensive people leadership program today and gain the knowledge and take your career to the next level!

Motivating Your Team For Maximum Efficiency: A Guide and Best Practices

Motivation is one major element that drives our lives. Without this, it’s difficult to sustain in this ever-evolving competitive world. It empowers us to achieve our goals and increases our dedication and enthusiasm. 

Especially today, when most of the population suffers from anxiety and depression, motivation is a reliable solution.

There’s a rising demand for professional leaders with the necessary skills to drive the workforce towards improved productivity and efficiency. 

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The practical approach of leading a team and drawing maximum efficiency from them is essential to become an influential leader. To achieve this, one must know the best practices to put into practice. The journey of motivating employees and transforming them into professionals driven by a sense of purpose is undoubtedly tricky but attainable. Here’s a brief roadmap to guide you in the process. 

Psychology Behind Team Motivation

Before jumping into the different practices leaders can follow to motivate their team members, they must understand the psychology behind them. 

There are broadly two types of motivation for employees — extrinsic and intrinsic. Extrinsic motivation includes raises in pay scale and in-office perks, whereas intrinsic motivation is more personal to the team members. In this case, encouragement comes from within when a certain task is accomplished and well appreciated. 

Extrinsic motivations are temporary; leaders should always focus on motivating their team members with intrinsic values. However, a carefully structured blend of the two can work wonders. 

Five Best Practices to Motivate Your Team 

In a professional setting, employees collaborate to achieve the given objective efficiently. However, leaders can also accelerate this process using motivational techniques and strategies. Here are some practices that can help bring desirable results if used properly.

Communication

A clear communication channel in a team is one of the essential factors in making things work for the best. It engages team members more, and regular updates, feedback, and criticisms keep them informed and motivated. 

Another element that must be communicated is the vision of the organisation and the expectations of each employee. This deep understanding of the impact of their work will boost their motivation further. 

Empowering team members

Apart from building strong communication among team members, empowering them by giving them a sense of ownership of the work is important. This autonomy makes them feel more included in the organisation with responsibilities they are accountable for. However, this practice shouldn’t be exercised at the cost of teamwork, as it boosts productivity. A balance between the two is imperative. 

Positive work environment

The nature of the work environment makes a huge difference in the performance of a professional. It is often overlooked, but a positive change can deliver unimaginable output. Thus, team leaders should give due importance to the work environment of their team members and make it more inclusive, comfortable, and energetic for them. 

Professional development opportunities

In today’s time, professionals are always looking to upskill and enhance their body of work. However, they cannot pursue them actively due to their professional responsibilities and lack of time. Thus, when the organisation takes a step toward motivating and supporting its employees in their dreams, it makes them feel more included and adds to the company’s growth. An environment of continuous learning is an excellent factor contributing to both organisation and employee development. 

Rewarding achievements

Acknowledgement and appreciation are two basic elements most leaders forget to use. Acknowledging the contributions of team members and appreciating their accomplishments encourages them to put their heart and soul into their work. Furthermore, they can be rewarded for their hard work and dedication with bonuses, souvenirs or other material or abstract forms of encouragement. 

Build relationship

Being a part of an organisation and working daily together naturally builds a relationship among the employees. However, this is a professional equation, and team leaders should aim to create rapport and trust among their team members. This transparent and authentic relationship lays the foundation for mutual respect. This enables team members to be much more open to suggestions and feedback. 

Ensuring work-life balance

One major concern that almost every professional has nowadays is balancing their professional and personal lives. This has become a matter of concern with the work overload disturbing their lives. Therefore, in such cases, leaders should ensure a healthy work-life balance for their team members by offering flexible schedules, encouraging breaks, and providing work-from-home opportunities. 

One-on-one discussions

Leading a team is also about managing the members individually and giving importance to each of them. One can become an influential leader by caring about each team member. To do this, leaders can arrange one-on-one discussions with every team member, breaking the ice between the two and learning about their goals and perspectives. This simple step by the team leaders not only empowers the employees to put their best foot forward but also lets them open up to the leaders about any issues they face. 

Conclusion

Managing a team is one thing, but motivating them throughout for maximum efficiency is another. Leaders often forget this crucial element of leadership while focusing on the final output. Without the constant motivation and drive to accomplish end goals, employees might realise the target but always lack efficiency. 

Hence, team leaders, managers and others in leadership roles must know the psychology behind motivating their team members and the best practices. Although there’s no single way to encourage your team, leaders can see positive changes starting with the practices mentioned above. 

For more in-depth knowledge, enrol in the IIM Lucknow Leadership Programme offered by Imarticus, where industry leaders will guide you in becoming one of them. This new-age global senior leadership programme will build you into the leader you have always dreamed of.

To learn more about these leadership courses from IIM, visit Imarticus Learning today.

Supply Chain Resilience: Strategies for Mitigating Disruptions

Supply chains have long remained the lifeblood of companies operating worldwide, and have exponentially grown in complexity over the past years. Also, with the increasing dependence on supply chains as the primary means of production, it has become all the more relevant for companies across the world to reassess the potential disruptions to their individual supply chains that can risk business operations. 

In this regard, Supply Chain Analysts are responsible for exploring possible risks, financial implications and other causative factors behind supply chain disruptions, and ideating ways to improve supply chain resilience against shocks and exposure to risks.

Ways to Mitigate Supply Chain Disruptions

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Supply chain resilience has emerged as a viable solution to mitigate disruptions in the supply chain, and eliminate the company’s exposure to risks. Supply chain management courses frequently highlight the following ways of mitigating shocks and disruptions as viable ways of establishing supply chain resilience.

Multisourcing 

Companies that tend to rely on supply chains originating from singular sources are often at a higher risk of supply chain disruptions. This is because, other than the lack of flexibility, companies can incur unavoidable losses in case of any inconvenience on the part of the supplier.

So, in order to avoid disruptions that could result in unwanted expenses, multisourcing is an effective solution to keep the supply chain uninterrupted. Not only do multiple suppliers offer additional security in times of need, but can result in greater flexibility and diversity. Having multiple suppliers over sole suppliers can also benefit companies operating from several locations.

Inventory and capacity buffers

Inventory and capacity buffers are some of the most prominent precautionary measures for any operating company, and have been recognised as one of the most effective means of establishing Supply Chain Resilience. At a glance, inventory and capacity buffers might appear expensive, but is completely worth their value provided their effectiveness as surge capacity expansions.

Inventory and capacity buffers are also beneficial as a cache for underutilized means of production and excess safety stock requirements, and allow companies to strategically utilise them in times of surge needs, such as product launches or new operating sites. 

Diversification of manufacturing networks

Diversifying manufacturing networks is an excellent way of ensuring Supply Chain Resilience and avoiding disruptions, as it essentially allows companies to widen their accessibilities, while ensuring seamless operation. 

Other than being beneficial to supply flexibility, diversification in manufacturing networks allows companies to improve their image and profitability, stay ahead of competitors, and operate profitably in times of economic crisis. Diversification of the manufacturing networks also means lowered order liability and lead times. Diversifying manufacturing networks has been on the rise in recent years due to its effectiveness in mitigating supply chain disruptions, and the cost of maintaining multiple suppliers has been recognised as the cost of doing business by major companies across the world.

Nearshoring

Geographic dependence on manufacturing networks is a major causative factor contributing to supply chain disruptions. Ranging from differences in timezones and natural disasters to political and strategic unrest, geographic dependence can often cause hindrances to the supply chain, and can also end in additional expenditures and liabilities. 

So, most companies around the globe prefer nearshoring, or sourcing their materials locally or regionally. Nearshoring can help companies overcome their geographic dependence, which benefits companies by improving supply chain resilience, and can simultaneously help shorten the cycle time of production. While nearshoring can be expensive in certain instances such as complications in the ecosystem or involvement of local factors, it offers companies more flexibility and security over inventory, and can significantly reduce supply chain disruptions. 

Ecosystem partnerships

Ecological crises and the need for environmental sustainability have made it crucial for companies to look into means of production that can be carried out effectively without any damage to nature and its values. So, companies have considered new ventures that promote environmental security without compromising their operation. In this regard, adopting ecosystem partnerships have emerged as a promising solution that allows corporations to uphold their environmental integrity, while making sure the supply chain is uninterrupted. 

Adopting eco-friendly measures for inventory acquisition, such as liaisons with global 3PLs and contract manufacturers can help companies achieve their desired goals, and mitigate supply chain disruptions without compromising environmental stability. Collaborating with external service providers also helps in boosting the resilience of future ventures. 

Product, platform and plant harmonisation

Streamlining is an effective way of ensuring supply chain resilience. In this regard, companies are often encouraged to standardise the components of the means of production, including the platform and plant that allows companies to seamlessly move products across networks and efficiently process supply chains. In addition to minimising the risks of supply chain disruptions, harmonising products, platforms and plants is also reflected in end-to-end transparency, improved opportunities and sourcing policies between manufacturing networks, and supply chain resilience.

Conclusion

With supply chains serving as one of the most crucial aspects of business operations in present times, it is vital for companies worldwide to adopt measures that contribute toward strengthening supply chain resilience, while simultaneously optimising production capacities for companies. Improved supply chain management by mitigating disruptions has allowed companies to avoid business risks, respond quickly to potential disruptions and secure assets, as well as improve end-to-end transparency.

Sign up for the Advanced Certification Program from Imarticus to unlock your potential in Supply Chain Management. You might also want to look into other supply chain management courses from Imarticus Learning and begin your journey as a Supply Chain Analyst.