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Showing posts with the label Business

Managing Obsolescence

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Obsolescence Management is the process of identifying, mitigating, and managing the risks associated with the obsolescence of materials, components, processes, skills, and software throughout the lifecycle of a product or system. It involves planning for and managing the entire lifecycle of a product or system, from design to end-of-life thereby ensuring that products remain functional and supportable despite the inevitable changes in technology and market conditions. How Obsolescence Comes About Obsolescence can occur due to several factors: Technological Advancements : New technologies can render existing ones obsolete. Business Changes : Existing solutions no longer meets current functional requirements or standards. Furthermore, newer solutions may be cheaper to operate than existing ones. Availability of skills : The skills needed to operate and keep systems operational no longer exist or are hard to find. Supply-chain issues : Suppliers may go out of business or st...

Complacency

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We've all experienced adolescence. For some, it may have been relatively recent, while for others, teenage years are a distant memory. Some of us are parents or guardians of teenagers, keeping the experience fresh in our minds, albeit from a different perspective. Teenagers typically go through a phase of questioning and challenging everything. As the teen years fade into the rear-view mirror of time, we become satisfied with everything around us; we become complacent. In today's electronically connected world, our digital lives are integral to our existence. Our digital footprint encompasses both government-operated and commercial systems. Without the digital tokens that represent us, we cannot access or consume countless services critical to our daily lives. The proliferation of our digital presence across computer systems has given rise to a criminal industry that trades in information stolen from systems or the hijack of the same. This lucrative form of crime can be perp...