“Retail in India is growing exponentially”- Mayank Jain, Regional Business Manager, Titan Eye Plus

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On 20th July 2017 in an interactive session with Mr. Mayank Jain, Regional Business Manager, Titan Eye Plus; the speaker threw light on the fact that retail in India is booming. He told the students that currently India is ranked number two in retail potential and has successfully jumped thirteen places of what it was last year. It is amazing to know that we are first in the world in terms of per capita retail ability.

Taking the discussion forward, Mr. Jain mentioned that the reason for this exponential growth is that we have very good market potential. The economic risk of all the retailers who are coming in India right now is extremely low. FDI has been taken to next level altogether. 100% FDI has been approved in unibrands and multibrands.

Furthermore, Mr. Jain also touched upon the fact that the market sizing is extremely important. Quoting an example of the same, he mentioned that “if the market size is around 1 crore rupees per annum and my market share is 15% then I would be earning 15 lakhs; which is not a viable component”. If we look closely towards the data provided we will notice that the market size of India is growing exponentially. Mr. Jain left the students surprised by mentioning the fact that the total Indian market size has almost doubled up in a span of four years. This has made India a very favored destination for all the retailers to come, grow and earn. He also mentioned how important a role does visual merchandising plays in retail.

To conclude, Mr. Jain, an alumnus of TAPMI, proudly mentioned that professionalism that TAPMI teaches can be realized only when one steps out in the corporate world. And this professionalism is very important in the retail sector.

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Manthan 2017: Day 2: Guest Lecture 1: “Operational risk” – Mr. Lalit Taneja, Regional Director, Global Association of Risk Professionals.

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The topic being discussed in the guest lecture was operational risk. Mr. Taneja explained to the students the concept of operational risk using Basel Committee’s existing definition. It is basically the loss that is incurred due to failed internal processes, people, and systems or from external events. He also explained that individual banks can adopt their own definitions of operational risk if the minimum elements in the Committee’s definition are included. A key takeaway from the discussion was that operational risk is inevitable and cannot be zero.

Mr. Taneja briefly spoke about internal & external fraud, employee & workplace safety, clients, products and business practices, and process management. He emphasized the importance of operational risk indicators. These indicators are vital in identifying potential losses and tend to be specific to organizations.  They refer to lagging/ex-post measures and information on events that have already taken place (examples include failed trades, settlement errors). It is up to the risk managers to transform lagging into leading indicators. This process can be carried out by changing the focus of the indicators or even by adding new information. Thus, the focus of these indicators could be changed to highlight issues that are still outstanding or remain open after a specified period of time. The transformation of these processes is difficult to implement in reality. He went on to explain three types of risks namely:

  1. Legal risk – It is included in operational risk. It refers to the risk of disruption to operations due to unenforceable contracts, lawsuits, adverse judgments and legal proceedings.
  2. Reputation risk – Although this type of risk isn’t usually considered, reputation risk is very critical to a business. It refers to negative public opinion. A fall in a company’s reputation can result in liquidity difficulties and falling share prices.
  3. Business or strategy risk – It arises from an adverse shift in the assumptions, goals and other features that underpin a strategy.

The next part of the lecture was about the latest trends and approaches. Mr. Taneja spoke of the relevance of frameworks, advanced analytics, strategic planning, stakeholder feedback, advanced management approach and the need to forecast “black swan” events. Post the discussion, Mr. Taneja answered questions which were along the lines of operational risk, risk management, and its applicability. He was able to explain the concept exceedingly well because he was able to relate it to real life examples in corporate organizations and financial institutions.

S.C.O.P.E.2016: Day 2: Wordsworth: “Big Data and Analytics in Airlines”- Mr. Raj Sivakumar, Senior VP, WNS Global Services

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Mr. Raj Sivakumar, Senior VP of WNS Global Services conducted an interactive session with the students of TAPMI and delivered a speech on ‘Big Data and Analytics in Airlines.’ He explained that Big Data was, “Extremely large data sets that may be analysed computationally to reveal patterns trends and associations. Especially relating to human behaviour and interactions.” This is concept has been prevalent for a long time but 50% of big data has been gathered over the last decade. Mr. Sivakumar feels that this itself implies how the generation is moving online.

Mr. Sivakumar told the students that airlines were the actual pioneers in the usage of price optimization analytics across the enterprise with the help of Big Data. He said Big Data helped the airlines in understanding the behaviour and consumption pattern of the customers. This leveraging of data helped in the business advantage. But the problem with using so much data available online is that every reservation and booking a customer makes leaves a trail. Mr. Sivakumar feels that automation to a certain extent is good. It increases the efficiency and information is available easily. Mr. Sivakumar told the students, “distribution strategy that does not heavily emphasize social and mobile channels and the analysis of big data derived from them will fail.” This millennial generation is moving to the online channel. These channels are to be tapped if they are to be reached. In today’s world, if the marketing strategy is not using online channels or taking the help of Big Data, they have high chances of failing.

Mr. Raj Sivakumar opened up the session to address the questions of the students. He concluded the session by answering the various queries. He even gave a glimpse of how the world may move to a fully automated one in the next few decades. The students got a peek into the world of Big Data.

S.C.O.P.E 2016: DAY 2: Wordsworth: “Procurement practices in large scale projects & role of IT in it”- Mr. Ramdas Kalmady, Procurement Head, Reliance Industries Limited

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On the 11th of September, Mr. Ramdas Kalmady, Procurement Head of Reliance Industries Limited, addressed the students of TAPMI. The theme for the session was “Procurement practices in large-scale projects and role of IT in it.” Mr. Kalmady started the session with a brief introduction of what was the basic concept of procurement process and why these practices are crucial to any organization. After he laid down the core foundation for the session, he broke down the theme in various sub themes.

Mr. Ramdas Kalmady spoke about the different steps involved in procurement. Firstly, ‘selection of licensor’ is the most important factor that a vendor needs to keep in mind. According to him, the correct licensor is an integral factor in determining how smooth operations will be. Secondly, the selection of the type of PMC (Project Management Contract) is also essential. Finally, Mr. Kalmady feels that the various steps in project procurement plan like identifying materials and services, identifying long lead items and packages, procurement strategy for packages, identification of vendors, sourcing, logistics and storage at site are equally important.

Logistics has an impact on your decision”, Mr. Kalmady feels. The role of a procurement manager and IT sector is a major contributor in improving the procurement process. The role of IT includes usage of ERP-SAP. The usage of this software helps in smooth functioning of logistics. He said that eRoom for document flow will also increase efficiency. New ideas like supply chain management portal and material management cell keep the workers connected and motivated to work harder. The supplier relationship management, according to Mr. Ramdas Kalmady influences the internal workings of the company.

To conclude Mr. Kalmady said that the procurement process in large-scale industries need to be smooth otherwise their functioning and output shall be ineffective. This session ended with the students understanding what was necessary for large scale projects to function.

S.C.O.P.E. Day 2: SOCIUS- Panel discussion – ‘INDIA: The Land of Rising Entrepreneurship and Start-ups: Action plan for a favorable environment for start-up ecosystem’

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Ravi Ranjan, Head of Nasscom 10,000 startups

Mr. Ravi Ranjan was the first speaker among the panelists. He noted that nowadays, students are eager to take risk and are happy to work with startups. He quoted that “Your ability is not restricted to just be a follower, you have to be a leader.” He further stated that there are two questions that stand before us – How startups will help India and how will India change the startup scenario in the world?

Further, he mentioned about the Startup India connect initiative wherein 30 innovative ideas were considered, by Narendra Modi and Jeff Wiener (CEO of LinkedIn. This included investors, entrepreneurs, academicians and students. The state governments have taken note from the Central government and started building start-up policies. He believes that the criteria of top institutes are measured by the number of students who skipped placements and have built startups. He stated healthcare, virtual reality, machine learning, IoT (Internet of Things) as some of the aspects which one should consider while building a start-up.

Mr. Ranjan believes challenges are opportunities and used Ola, Oreo and many others as an example of the same. Entrepreneurship according to him is not only building your own startup, but also includes taking responsibility of a particular vertical, improving it and ultimately improving the start-up. He stated that Google promotes entrepreneurship citing examples of Google Maps, Earth, and Android to name a few. He concluded that one should not depend on a plan B as that takes the focus away from the main plan.

Niraj Taksande, Founder and Director – Entropy Innovations Pvt. Ltd

Mr. Niraj Taksande spoke of the transition in the start-up culture. He believes that competition improves employee capabilities and builds the overall quality of the product.

He believes that Startup India is affected by mindset of the people which might include resistance to Indian products and believes that there is a need to change such a mindset. He emphasized that the government has started initiatives of start-up India to try and streamline their processes. According to him, areas where many startups could be focused are IoT, virtual reality, mobile penetration, smart computing, etc.

He concluded by stating that a person building a start-up should understand basic concepts related to the field and simultaneously work towards bringing a solution to the problem that is faced in the particular domain.

Rohan Patil, Chief Operations Officer- Entropy Innovations Pvt. Ltd

Mr. Rohan Patil began by providing his opinion on the culture of innovation. Innovation is the essence of the start-up culture. In this era, the focus of new entrepreneurs needs to be centered around unexplored areas. Government sectors, logistics, manufacturing, ambience and other services available at the doorstep could be areas to target for further growth in innovation.

Furthermore, he went on to explain entrepreneurship. A proper team co-ordination with each member having a different but complimenting skillset and a qualified mentor are certain pre-requisites for a successful venture.  He concluded by adding that product based start-up with an eye towards the long term goal forms the pillar stone to entrepreneurship.

Mr. Sameer Malhotra – CEO, Shriram Automall India Ltd.

Mr. Sameer Malhotra began by giving an example of Karsanbhai Khodidas Patel, Founder of the Nirma Group. He spoke about how Mr. Patel researched the market before creating a soap product called Nirma.

He said that India will be ranked 2 in terms of number of start-ups in the next 2-3 years but female entrepreneurs comprises are only about 10% of the total startups. We should set up a business to not only help for ourselves but also to contribute to the environment around us.  He said, “An entrepreneur needs to know – what, when, and where of his product”. Any business would have to be aware of what customers need and what is the right price they are willing to pay by testing the demand in the market.

An investor will expect an individual to be a domain expert if he/she wants to enter a market. One doesn’t always need to have financial projections. Basic understanding as well as experience will be key attributes. Furthermore, he advised students to find their passion and do what they truly believe in.

 

S.C.O.P.E. Day 2: SOCIUS- Panel discussion – ‘Greening the Supply Chain: Best Practices and Future Trends for a sustainable development’.

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Excerpts from the discussion:

Girish Nair, Head- Engineering and Manufacturing at DHL

Mr. Girish Nair started off by explaining the concept of green supply chain management which is in sync with nature. It focuses on minimising wastage in the supply chain. The main aim is to try and assimilate process making it viable to limit damage to the environment as much as we can and thus minimising carbon footprint.

He further explained that the way we work gives a perception of a country and impetus of large economy of the world. He cited the example of Germans’ discipline by explaining how they line up with blue sacks to recycle bins, take used bottle and drop into a vending machine to get Euros for it. These Euros can be further used for buying goods at departments.

He went on to compare the punctuality of Indians and Germans on a different perception of both cultures. He believes a cross-cultural setup, where we will have a blend of all cultures will help improve the society. He concluded by praising TAPMI’s cross-developmental working as well as punctuality and accomplishment of the task as a team.

Sarang Vaidya, Co-Creator of Go4Fresh

Mr. Sarang Vaidya started talking about “Power of Now” by Eckhart Tolle which helped some of his ideologies. He stated that the foods and vegetable supply chain management is very mismanaged. He explained that there is a lot of wastage at the farm, storage, shelf, and retail level, and ultimately the post-consumption wastage which is always there. If processing and transporting is not being judiciously done, it will lead to wastage, which can be easily avoided.

He believes this initiative can be taken up by building small setups at home, office, society or even community level. Go4Fresh is based on the concept of sustainability. Go4Fresh believes in bringing awareness and executing such practices uniquely.

Disposal of food wastage is majorly done by responsibility sourcing. The wastage is due to three ways- first, identifying areas of wastage/ scope for wastage and how to take care of resources, second, handling of primary and secondary packaging and lastly, waste generated due to mishandling or negligence or surplus. He suggested that solution to this would be reverse logistics at customer end and by making people sensitive about such wastages.

Neelanchal Panda, General Manager- International Papers

Mr. Neelanchal Panda began by emphasising the acuteness of wastage issues in the industry. He said 30-40% of the food gets wasted in the industry. A proper waste disposal system, which includes reuse and recycling needs to be in place. Further, he stated that the lead time needs to be reduced, and compliance needs to be followed to alleviate the gravity of the situation.

Engaged in managing the end to end supply chain in the chocolate manufacturing, Mr. Neelanchal spoke about the wastage due to expiry and quality issues leading to an inability to achieve target sales. He proposed to shift from push to pull demand. He also said that having proper internal policies in place for transportation and other compliance practices can help in reducing losses to an extent. Moreover, fixing the measurements to right proportions can change the entire ecosystem of supply chain management.

Manish Maurya – DGM Inbound– Transport corporation of India

Mr. Manish Maurya began by saying that we need to ensure that trucks’ carbon dioxide emissions are less than the industry level. Distance must be reduced by using the shortest route, which will help in reducing emissions and save time. We must not compromise on our environment for the sake of development. What are we going to give our children and future generations by scarifying the nature?

Toyota employs, Just In Time (JAM) and expects our deliveries to be on time. Even if there is a 30-second delay, their line will get delayed. He said that you will achieve success through sustained team-work. In his organisation, drivers and trucks are of prime importance. He said that we have an established process where drivers are trained in safety measures and simulate many conditions. Truck maintenance is done in house. He concluded by saying that our mindset must change if we have to implement green Supply Chain Management processes.

Prof. Kedar Joshi – Associate Professor, TAPMI

Prof. Kedar Joshi started off by saying that Green SCM is by virtue SCM. The three aspects involved are the flow of material, information and money. More efficient processes are required in green SCM.

At the product design stage, you must ask questions such as – Is the product recyclable? Are there any other ways to reduce waste? A mechanism to measure carbon footprint is essential so as to incorporate findings and solutions into practices. This will help benchmark and manage processes.

There is also an academic social responsibility which students are exposed to like green SCM. We teach students to minimise cost in the process they learn to reduce carbon footprint in a process. He concluded that by saying a pro-green policy must be followed even if it increases the budget requirement.

The moderator concluded with the gist of the panel discussion that there is no shortcut. We have to do it in a way that is responsible. Don’t keep it for the next generation.

 

S.C.O.P.E. 2016: Day 2: Mr. Padmanabha Holla, VP- Products, Forus Health Pvt. Ltd.

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This discussion was on Product development & requirements. Mr. Holla started the discussion by giving an example of Arvind Eye care. They have been successful with reducing the cost of eye care & using the intraocular lens for cataract surgeries.

The company identified two problems. First, people come late for treatment. Second, there are not enough doctors to help. According to him, there are about only 20,000 ophthalmologists in India, clearly indicating a dearth of such professionals. They analysed this problem & came up with solutions. Their product was portable & was specially designed for India. Its main market segment in India are the individual ophthalmologists. The automatic recognition algorithm focuses on identifying people with eye issues and sending their details to the individual ophthalmologists. It is connected to telemedicine, unlike other products. To keep the processing low, they have kept the display, processing and storage separate.

As a company, they profile their customers, understand how consumers benefit from their products, focus on how to increase consumer belief through accreditations & certifications, benchmark competition, define what differentiates them from their competitors & how they define requirements in user language. They believe that with respect to understanding their customers, they are aware that to know their needs & expectations, it is not the customers who will inform them about it but it is something that has to be derived from them. The session ended with a Q & A session with the students.