Report on Smart metering cabinet with distribution transformer

Smart metering cabinet with Distribution Transformer needs to be implemented in Federal Electricity & Water Authority (FEWA) as the device that is used to collect accurate data, it is the best device that efficiently collects temperature, peak load, and current. It is an innovative idea and its benefits are given as follows:

• Open Data: It has the smart sensors from it help the data can be efficiently collected and monitored from the office.
• Availability of data: There is the 24 hours availability of data and the results are shown any time per day rather than only the max peak load.
• Decrease resources: The people who go to collect peak load, so this device can also decrease the number of engineers/technicians.
• Accurate time: There would be decisions to collect data on the accurate time example, with the experience the data will be collected between 8:00 – 13:00 for schools, between 20:00-24:00 for buildings and between 14:00 – 15:00 for peak loads.

Smart metering cabinet with Distribution Transformer would be helpful for the FEWA as the device can save cost related to the overtime money, the pay of the employees can also be reduced who are working in peak load more than work hours to collect transformer data. 

 5-forces analysis of Smart metering cabinet with distribution transformer

Implications of Porter’s Five Forces on Smart Metering Technology

            By studying the whole five competitive forces Smart Metering Technology schemers could achieve a whole image of what influences the company’s profitability within the industrialized Products & Services industry. This technology also has the capability to identify the evolving trends and could also quickly react to exploit the developing occasion.

Smart metering cabinet with a distribution transformer is a technology that brings innovation; however, therefore, best strategic decisions need to be taken effectively in order to gain a sustainable competitive advantage. Smart metering technology would be helpful in the industrials sector to explore profitable opportunities.

a) The threat of new entrants of Smart metering cabinet with distribution transformer

For smart metering technology, the threat of new entrants has moderate power in the industry as it is the technology and competitors can come with better and lower pricing strategies. A new entrant can be there and focus on providing new value propositions. The switching cost is low and the comparison is easy. Therefore, for the customers, smart metering technology should focus on reducing costs, and build effective barriers in order to safeguard the competitive edge. There is a need to:

• Do innovation in new products and services
• Building capacities
• Spend money on research and development

b) Bargaining power of suppliers of Smart metering cabinet with distribution transformer

For smart metering technology, the bargaining power of suppliers is high because the raw material can be supplied from numerous suppliers. The product may face issues related to suppliers related to the following:

• Negotiating power
• Extract higher prices
• Lowers the overall profitability

The issues can be tackled as follows:

• Efficiency in making the supply chain with multiple suppliers
• Experimenting with product designs
• The company can shift to another supplier
• Learn from Wal-Mart and Nike

c) Bargaining power of customers of Smart metering cabinet with distribution transformer

For smart metering technology, the bargaining power of customers is high because the buyer focuses on the best offerings available and for the smart metering technology they believe in profitability in the long run. The product may face issues related to customers related to the following:

• Smaller and more powerful competitors
• New technological smart metering technology

The issues can be tackled as follows:

• Increasing discounts and offers
• Rapidly innovating new products
• Reduce the defection rate of existing customers
• Large database of customers

d) Threats of Substitute Products or Services of Smart metering cabinet with distribution transformer

At the time the innovative product or service reaches the same requirements from the customers within diver methods, and then the profitability of industry will be suffered. For instance, services such as Google Drive or Dropbox can be considered as the substitute for storage the hardware drives. In addition to this, the threat of a substitute product or service would definitely high only if it provides a value proposition which quite exclusive and different from the industry’s current offer.

The Smart Metering Technology could manage the Threat of Substitutes Products or Services with some steps such as:

• By focusing as a service-oriented instead of only product-oriented
• By accepting the primary requirement of the customers instead of what the customer purchase
• By improving the shifting cost meant for the customers

e) Rivalry amongst the Current Competitors of Smart metering cabinet with distribution transformer

In case if the rivalry amongst the current actors in an industry is strong, then it would strive down prices, and also reduce the complete productivity of the industry itself. Smart Metering Technology works within a highly modest Industrial Products & Services industry. This type of competition would take a toll on the complete company’s profitability in the long term.

The methods which described how the Smart Metering Technology could overcome the strong rivalry amongst the current competitors in Industrial Products & Services are as follow:

• By formatting a maintainable differentiation
• By constructing a measure, with a purpose to perform better in tough competition
• Collaborating along with the other competitors, in order to improve the market dimension instead of only competing within a small market place.

• Blue ocean strategy (value curve) of Smart metering cabinet with distribution transformer

Blue oceans can be helpful for smart metering technology with a distribution transformer because this is the strategy that can provide the opportunity for growth and there could be benefits related to both profitable and rapid.

• Value innovation: Smart metering technology can focus on the value innovation in this way, through easy access to the system and monitor the data which will be available for 24 hours and 30days.
• Fair process: There could be raise in pricing or service standards of the product, moreover, implementing the new strategy like customer relationship, the smart metering contractor who can offer provide a discount for buying the meter with the sensors is important.
• Eliminate Differentiation and low cost as to collect peak load devices it can decrease the number of engineers/technicians. Moreover, the device can save costs related to the overtime money as employees can also be reduced who are working in peak load more than work hours to collect transformer data.

• How are you going to protect your idea?

 Please provide some graphs about your prototype/MVP: how does it look like?

The smart meter can be connected with the smart sensors to the distribution transformer, in this way; sensors help the network of transformers operating state to perform efficiently and effectively monitor and dispatch the critical information.

Better guidance to the utility operator need to be given so that the transformer can provide long life services. There could be advantages related to cost savings and greater reliability.

Optional (Bonus over 15 grade), should you have done a prototype: Describe your prototype and list all the supports you have developed (video, application, web site, app, etc.). Please show:

• Picture of your prototype (i.e. the 3D model)
• Screenshots of your website with URL
• Screenshots of your app
• First picture of your video with the URL on Youtube