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Is the market an efficient distributor of goods and services? For me, the answer is

an unequivocal 'No.' The market isn't particularly efficient and the reasons

for that are very simple. First of all, and most basic, a market is not a place

where we count the costs and benefits of things and decide to do those where the

benefits are greater than the costs and to not do those where the costs are

greater than the benefits. That's the fairy tale told to students that's never

true. Why not? Because many of the costs of doing

business are not costs that the business has to pay and therefore they're not

counted by the business and therefore the decisions the business made don't

take into account all the costs. The simplest example comes from ecology. It

may be very profitable for a laundry to exist in a community where the money

they charge to clean our clothes is greater than the cost to clean our

clothes. What nobody counts, not you, not me, and not that business, is the

smokestack above the laundry that emits into the air all kinds of particulate

matter from burning whatever they burn, oil, gas. Those little pieces, they have

all kinds of effects in the community but they're not the problem of a

capitalist business. Let me give you some lists: people breathe them in and they

get emphysema, they get lung disease, they have to go to the doctor more often. But

those particulates, those pieces, they also interact with the tire in your car

so you have to replace the tire more often. They also interact with the paint

on your house so you have to paint it more often. I could go on and on. Who pays

for all of that? You do. I do. Medical bills,

tire costs, paint costs. But the company that causes the problem doesn't have to.

If we added all the costs that that laundry really

costs the economy we live in, we wouldn't put the laundry there because the costs,

if you really add them up, are greater than the profits. And worse, the costs are

borne by all of us. The profits are only in the hands of whoever owns the company.

That's undemocratic. That's unfair. But it's inefficient because an efficiency

calculus, if we could actually do it, would say not to put that laundry there.

So markets don't get you efficiency. Well what do markets do? They distribute

things in a very particular way. If things are scarce, if there's not enough

ice cream cones for all of us to get one, I'm gonna go to the guy who's selling

the ice cream cones and I'm gonna say "You're charging how much?" "$3" he says. Good

he said "I'll give you four because I want to get one and I know they're

scarce". But the guy standing next to me, he understands the game, he offers five,

and the woman next to him offers six, you see where this is going. The price of

cones will go up until it's so high that lots of people who wanted the cones

can't afford them anymore. Or to say the same thing simply: markets allocate

scarce goods and services to those with the most money. That's what they do. That

isn't efficient. That isn't moral.That isn't ethical. I ask all of you to take

whatever morals or ethics you have and ask yourself the question, is

distributing scarce goods to the people with the most money the best moral way

to do it? If there isn't enough milk to go around should an older person who

doesn't need it but has the money get it while a child who needs it to grow is

denied it? You really want to do that? You really want to endorse that? No,

markets are not efficient. Markets are a way to make sure the economy serves

first and foremost those who are the richest within it. And believe me, they'll

use the market first and foremost to stay the richest,

so that the market serves what they want the market to do. Don't be fooled.

The market is not a neutral efficiency mechanism. It is a highly partisan, biased,

service to the rich.

For more infomation >> Is the market an efficient distributor of goods and services? Richard Wolff says 'No' - Duration: 4:44.

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Concierge Services: Helping You Heal - Duration: 0:59.

We also provide concierge service,

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For more infomation >> Concierge Services: Helping You Heal - Duration: 0:59.

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Top 5 Things You Need to Know About Ready Labware Services (Before You Buy!) - Duration: 5:01.

Are you considering outsourcing your labeling needs?

Outsourcing can make your lab more efficient but first you need

to figure out if it's right for your processes.

Today we'll hear from David Richmond,

one of our experts in Ready Labware Services,

which is our label outsourcing program.

Today, David is here to answer

the five most frequently asked questions

about this program, including what it is,

how it works, how it's priced, and more.

Stay tuned.

(staccato music)

Ready Labware Services is an offering

whereby you receive your labware

ready-to-use, right out of the box at your bench.

It's already procured.

We use our own resources to procure

the labware that you want.

So we take the time to do that.

We barcode the labware.

We scan 100% of the barcodes that we make for you

so that you can be assured

that they'll scan in your equipment.

There will be no misreads.

We also tare weigh the labware for you as well.

And we can provide you with a customized report

for that tare weighing.

And then finally we can package it.

If you need it color-coded in certain packaging

or if you need it packaged sequentially,

no missing numbers, however you need it,

that's how we can put it together

for your application and your use.

The key takeaway with Ready Labware Services

is that we have a lot of options for you.

You can pick and choose what's the best fit

based on your budget or your requirements for your program.

If your concern is that

we don't duplicate one of your numbers,

we have systems in place that allow us to track that.

We generate files that tell us what we intend to print.

We scan 100% of your barcodes,

and then we compare that output file

to the file that we intended to print

as well as as previous numbers that we've

printed for you in the past to make sure

that we have not duplicated any of your numbers.

If, for example, you were to send us

an order that has a duplicate number,

our system would flag that before we even enter the order.

We'd come back to you to make sure that you're

giving us a duplicate number to print.

Our Ready Labware Services imaging

is tested based on your requirements.

You may need a barcode image that only lasts

for a couple of days before it gets thrown out,

or you may need an image on a container that's gonna last

30 years in your compound storage warehouse.

You may be concerned about the accuracy of your tare weigh

in your compound storage library.

You may wanna make sure that that container

fits back in the rack after you put a barcode on it.

You may need to make sure that your automation

will reliably scan the barcode

or that the label will survive the different chemicals

in your environment or the heat that it's exposed to.

We have three different technologies,

ceramic, two types of direct mark,

as well as a selection of pressure-sensitive adhesives

that we can bring to bear for your application

to make sure that it endures your environment

and lasts for as long as you need it to.

We've been getting more inquiries

about our ability to provide labware that is Nase-free.

We have a room where we practice Nase-free production.

We're gowned up.

We wear masks and gloves and hairnets

so that we don't cross-contaminate that labware.

If you need to have it certified so that it is Nase-free,

we can offer that to you as well

with a third-party certification

that your labware is coming to you Nase-free.

A lot of things go into figuring out

what the cost would be versus the value you're receiving.

And the good thing about what our offering is

is that we have several technologies

that we can bring to bear for your application.

So to start with, we can either do a simple label

all the way up to direct mark or ceramic labeling,

all of those have different costs,

and it allows you to pick which one

is the best fit for your application.

Other alternatives we have,

do you not need any missing numbers?

Is that a requirement?

Or do you need tare weighing?

Or is there special packaging

that you require?

We can add those into the service.

They can come out of the service.

They all get factored into the total cost.

But the main point is is that we have

a lot of options that we can talk about with you

that allow you to figure out based on your budget

which is the best way to go for you.

Thanks for watching.

Hopefully now, you understand a little more

about our Ready Labware Services program

and how it can benefit your lab.

If you'd like to learn more about the benefits

of outsourcing, follow the links in the description

for more articles and videos.

If you liked this video, please give it

a big thumbs up and subscribe.

Thank you, see you next time!

For more infomation >> Top 5 Things You Need to Know About Ready Labware Services (Before You Buy!) - Duration: 5:01.

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Interview with Yazdi Bagli, SVP Global Business Services @ Walmart - Duration: 8:28.

I'm here with Yazdi, senior vice president for Global Business Services at Walmart.

Yazdi, how are you doing today?

I'm doing fine thank you very much.

So you've just come off stage a fireside chat with the publisher of Forbes

it working talk about how do you get a conversation one I think it went well we

were really focusing on how do we use artificial intelligence in the back

office so stuff where you use AI beyond our PA just it's not only about our PA

beyond our PA into supervised machine learning natural language processing in

running accounts payable accounts receivable doing the general ledger

compensation benefits stuff like that not the sexy stuff but this is the

boring stuff so how do how do you think it's changing the way people do the

boring stuff I think it is changing a lot because initially even if you could

automate in the back office you are only automating what you could

prescribe rules for and NRT a really changed that now with my supervised

machine learning you can even automate what the experts do which is judgment

based so you going beyond rules into judgment and that is what is really

transforming the space so why is this important to you know organization like

Walmart oh it is very important to an organization like Walmart because for

Walmart to compete it has to really invest in the consumer experience so it

has to make sure that the consumer can shop wherever they want to so it has to

create omni-channel it has to create the last smile and to

invest in that they have to extract cost out of the back office so it's not only

about the cost but a back office with a I can even create value for the company

can reduce cycle time so there's a lot of things that Walmart can do and

Walmart is the biggest company in the world it has two and a half million

employees and it's got a you know sales of half a trillion dollars and it's got

a lot of course and if we can harness those costs with AI and invest in the

consumer experience Walmart could be unbeatable so do you see the you know

this kind of back-office transformations you see it as part of a wider way of

competing with e-commerce or what was the challenge there with the

leading retailer of e-commerce yes so so does that really come down to select

supply chains or just driving efficiencies to the point where you can

actually still deliver like a you know how does this affect the the retail

experience on the front end my job is not the retail experience my job is to

create value in the back office so that you can invest in the retail experience

so um you know retail has been like the whole sector has kind of been

transformed the last 20 years why do you think time you know why do you think

people should really be prioritizing technology do you think the back office

is probably the most important or what do you see there the real like power

lying at the minute so most big companies what they did was they use the

back office for wage arbitrage so send a book to India and Costa Rica and then

forget about it and now even beyond wage arbitrage you can get a lot more value

with artificial intelligence so people are waking up to that so what advice

would you give to two other enterprises that are trying to get started with you

know transforming their back office it a lot of a lot of advice here I've been in

this area now for 20 years and I have made a lot of mistakes I think the most

important advice is don't automate activities think of how you can automate

so that you don't even have the work in the first place so for example in the

shared service you the most effort goes in exception handling so instead of

automating how you manage exceptions automate in a way that you don't have

exceptions in the first place that's that's really the bigger said why

the second biggest advice is there's this mad rush to automate right now and

folks have to take a step back to realize what if the automation fails

because what I see is a lot of folks automating and then not creating a

business continuity plan or a disaster recovery if the automation fails and

I've seen it's stuff where you put something in and are three months later

there's an outage the folks have left and people don't know how to do the work

manually so these are the two pieces of advice I'd give

folks if they're embarking on AI in the back office so you know raising the

point of that that cultural challenge of kind of sustaining you know those skill

sets in an organization how do you how do you scale you know with this how do

you make it something be sustainable no I think I think it is a journey I don't

think there's an end game yeah I think I think you've got to really keep abreast

of what's happening experiment a lot have a portfolio system that allows you

to fail quickly and shut off projects before it goes too far so that it's it's

an innovation mindset it's it's no longer that shared service automation

follows the usual sa PE portfolio it's more a innovation portfolio it's it's a

completely different ballgame so you know obviously AI summits today and

tomorrow lots of different companies here what have you really been taking

away from the event today I think what a ridiculous there is still a lot of

learning to be done I think people are at very different stages there's no

framework it's it's a young field and half the times people are are eager to

learn and when they hear things are happening in other companies they like

hey I should be why am i left behind but I don't think that people have reached

the stage where they're really able to deliver it's it's it's there's a lot of

proof-of-concept going on there's a lot of piloting going on so I think folks

should realize that it's it's not that everyone's been left behind so I think

there's a feeling out there where everyone's like hey you should be doing

this too is there anything you've seen that that you'd like to take away in

terms of implementing you know there's lots people here going we need to do

this we need to do that is there anything you've seen like you think I've

need that yeah I I've definitely seen a few things which are good I think I'm

staying ahead of what's what's in the future because the two areas that really

impact me is natural language processing and supervised machine learning so I'm

really focus on that area but I've got to sort of keep my eyes and ears open

for what's next and is that relevant to the shared

service area because a lot of computer vision a lot of cool stuff is more in

the medical field it's more in consumer behavior it's more in retail execution

not in back-office so but it's it's it's a very interesting young subject I just

love it it's very exciting so on the on the concept you know on the point about

the future and what's next what do you think is next what kind of your would

you like to see happen in the field in the next year or so no I think the

democratization of AI there in I subscribe to few api's and the guardians

are done for me and I mix and match I I think that needs to accelerate I think

it's it's a great thing that we're embarking on that it's that I am glad

that Facebook Amazon Apple Netflix and Google did not sort of keep the stuff to

themselves and they shared it and that's the reason of the reasons why it has

really blown up I think that should continue and I think there should be

possibly next year there should be a session where they really start off with

the basics of AI for I think some of the participants I think it's needed like

such a large show well ya see previous day half a day like come for three hours

we we will talk to you as if you're a 7 year almost never heard of the I and you

got to really explain what it is start from the very basics I think that would

be good yeah well yeah the baby stage hey Wow yeah see talk show to me today

it's been really enlightening

For more infomation >> Interview with Yazdi Bagli, SVP Global Business Services @ Walmart - Duration: 8:28.

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Pourquoi Schneider Electric a créé sa Digital Services Factory | Industry X.0 - Duration: 3:52.

WHAT IS THE DIGITAL SERVICES FACTORY?

The Digital Services Factory is both a team and a process

available to Schneider Electric's lines of business

to support our digital acceleration

and the creation of new Schneider Electric digital offerings.

When we set up the Digital Services Factory,

we faced a typical situation for many companies today:

a lot of experimenting, a lot of small projects

that didn't necessarily always lead to products placed on the market.

A lot resources consumed, a lot of lost time.

We wanted to create a digital transformation initiative

provided by the Digital Services Factory.

And through the Digital Services Factory, we support and work with

Schneider Electric's various businesses

in their digital transformation.

WHY THIS STRUCTURE?

If we look back at the two years prior to

setting up the Digital Services Factory,

when the digital transformation core team

was put in place, we started out with a fairly technological approach:

the creation of a platform, technological creation,

the creation of technological components... that is still here today,

which represents the heart, the foundation of what is called

EcoStruxure at Schneider Electric, which is our architecture

and our IoT solution.

But this technological approach was not enough,

because to really drive

the acceleration of offer

developments with Schneider Electric's business,

we were missing something

beyond technology consumption.

And what we were missing was greater customer perspective,

a better crossroads between technology

and the needs of the customer.

And also, parallel to the design of the offer,

the design of the business model and the operating model:

how the offer is sold, how it is maintained,

how it is supported,

to truly succeed commercially with the given offer.

So through the Digital Services Factory, we have transformed

our approach from a very techno-centric one

to a truly customer-centric, business-centric approach,

which has been a very important step

for the acceleration of the digital transformation.

WHAT OBJECTIVES?

To accelerate the placing of offers on the market,

in volume, of course, but also to increase the level of quality,

that is, to increase the level of impact we have on customers,

to increase the level of value that is created for the customer

so as to have the best global selling point through these offers.

In the approach that is focused on technology

and not focused enough on value, the risk I find,

in a lot of IoT environments, is a bit the risk of gadgetization.

Offers that are technologically very exciting,

but that don't solve a customer's specific problem.

Offers that don't create the expected value, and which in turn are defined as difficult

to support and to develop commercially.

So through the Digital Services Factory, we really

focus on creating added value for the customer.

Creating added value for the customer, a business model that allows us to say,

if we create so much value for the customer,

what is the share of that value that is fair for us to transact.

And through that, we have an offer that has

the best chances of commercial success.

And if that offer, even when it is already placed on the market,

does not reach the maximum commercial success yet,

our method allows us to have permanent iteration

in search of an adaptation,

to best serve the customer's need.

So the method also entails an approach that is no longer linear,

the way we used to do before in some R&D projects,

hardware type or big projects, as we'd have at Schneider Electric.

But rather a much more iterative, much more agile approach,

much more flexible,

with the capacity to learn, to err, to change direction.

And then, ultimately, to bring about the solution that the customer needs.