FLIPKART
It was founded in Bangalore, India in 2007. It is the largest business to business (B2B) E-commerce in India. They initially started with books and later it got diversified with wide range of products. It is based on consumer products i.e., industry. There was increase in the growth due to its rapid diversification.
INVENTORY
Inventory is the ‘stock-in-hand’ of materials for subsequent processing and of the products for ultimate use of the customers or end-users. Keeping track of your inventory is important for any retailer who wants to gain expertise. It is a complete e-commerce system which could give you an idea of your total inventory for each and every supplier. It uses a perpetual inventory system in which then and there the inventory data is updated. As soon as an order is placed the data goes straight and the stock is known. In this system the bar code scans and other technology helps to control the system even better. This is the most reliable as the data is most up to date and accurate. Its Inventory systems let you know when it is time to stock up the inventory on items that are going to be out of stock and can also prevent you from overselling products. It also gives a substantial insight to the rate of selling of products. It also keeps a track and integrates with the catalogue system. It also filters the product as per the requirements of the concerned person. It makes it easier even for sales people. The materials manager can also assess the situation within few minutes. It makes it easy by displaying real time conditions of the inventory of the products which are in stock or out of stock, filters product according to the requirement. It decreases or increases the inventory level as the processing in the or...
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...derstood in the clear manner by knowing the type of inventory they use, the number of orders that is placed per day, the type of procurement system that they use for the inventory, terms of contract between the company and the supplier.
REFERENCES http://inc42.com/magazine/buzz/flipkart-shifts-to-the-amazons-marketplace-model/#axzz30MIbVSNN http://www.exchange4media.com/51110_flipkart-adopts-marketplace-model.html http://www.flipkart.com/?sitevariant=mobile http://www.livemint.com/Companies/nEzvGCknQDBY2RgzcVAKdO/Flipkart-India-reports-loss-of-2817-crore.html http://techcircle.vccircle.com/2012/04/24/flipkart-to-head-towards-profitable-revenue-growth-not-just-revenue-growth-sachin-bansal-co-founder/ http://techcrunch.com/2013/10/09/indias-amazon-flipkart-raises-another-160m-bringing-total-round-to-360m-dragoneer-morgan-stanley-among-new-backers/
We will also be tracking down direct verification of inventory that is held by public warehouses or outside keepers. Auditors will think through Costco’s actions for assessing warehouse’s performance, internal auditor’s report on warehouse’s internal control, and reconcile Costco’s record of inventory to warehouse’s statement. We will also account for any crack in receiving and shipping records. Auditors will test for appropriate authorization for inventory purchase, obtain purchase journals linked to vendor’s accounts, receiving reports and purchase orders. We will also review right of entry to accounting system linked to inventory to decide relevance of system access, review relevance of inventory write-offs and track the moving of inventory from one warehouse to receiving of the other warehouse.
Once they develop and implement this inventory control system, inventory records are going to be upheld truthfully and that they will get the accurate standing of the inventory up-to-date. In order to maintain the steady continuous supply for production need... ... middle of paper ... ... ory holding costs, ordering costs, and shortage costs, and have a classification system for inventory items. In conclusion, while reading the case study, I saw much disorganization throughout the company’s entire system.
Burt, D., Petcavage, S., & Pinkerton, R. (2010). Purchasing descriptions and specifications. In Supply management (p. 129). New York, NY: McGraw-Hill/Irwin.
They have got 1300 merchants around 24 countries. They have got good popularity in America as well as Japanese’s. They have got merchants around the globe such as U.S., North America, Australia, as well as European Union.
When it comes to selling a product, one of the most important aspects to consider is how you manage the inventory. Typically, people do not think about how inventory can drive company costs and how much thought must be put into this topic. Businesses must consider product demand, lead time, holding costs, service levels, among many other variables. All of these factors will result in different methods of holding inventory and will determine how a business orders their materials.
It governs in a way to supplying Just-In-Time inventory, management services that includes procurement, repair, transportation, delivery are warehouse management. For example, if the customer decided to purchase more parts outside the contract with the company, it would be exercising and alternative which again is outside the contractual agreement. The company has the latitude in vendor selection and the negotiating responsibility of pricing with vendors. This should be considered a flexible alternative that can be lucrative to the company, as they would benefit from bonuses noted in the details of the case study. In this case, it would be necessary to record all transactions to ensure accuracy in the amount of bonuses and transparency.
Sunil Chopra and Peter Mendl argue that inventory is one of the drivers of the supply chain performance and that it has a great impact as the other drivers, such as facilities and transportation which are the same as inventory being ‘Logistical Drivers’. Analyzing the position of inventory in the supply chain, certain factors of the inventory will be taken into account such as the responsiveness, economies of scale, the different variations of inventory, how other factors will affect the inventory, and transportation, which as stated before it is one of the drivers in the supply chain, Vs. inventory. All these concepts of inventory will be analyzed in the supermarkets domain and how crucial is inventory for the supply chain performance.
has grown into a $49.7 billion corporation by clearly focusing on the goal of enabling commerce around the globe.
In the competitive environment, it is necessary for moving products involves reception of products at an intermediate location, store, repackage, clear customs and transport to final destination. The other factor in the supply chain logistics is speed given information flows fast in the internet era. The customer expects everything quick accustomed to the instant status access to the information. With the real time inventory, customer expects the location of the product, it is next scheduled movement and the final delivery schedule.
The Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They had been working for Amazon.com previously. The business was formally incorporated as a company in October 2008 as Flipkart Online Services Pvt. Ltd. During its initial years, Flipkart focused only on books, and soon as it expanded, it started offering other products like electronic goods, Air Conditioners, Air coolers, stationery supplies and life style products and e-books. The first product sold by them was the book, Leaving Microsoft to Change the World, bought by VVK.Chandra from Andhra Pradesh. Flipkart now employs more than 4,500 people.Flipkart's offering of products on Cash on Delivery is considered to be one of the main reasons behind its success. Flipkart also allows other payment methods- Credit or Debit card transactions, net banking, e-gift voucher and Card Swipe on Delivery. The company has employee base of over 4500 and Global Alexa ranking of 142 (10 in India) which is Best Ranking in Ecommerce product line category industry and regarded as the Amazon of India since 2007 Till 2013 Flipkart raised 541 million us dollar from market Naspers, Accel partner, Morgan Stanley and Tiger global is majority contributor . The online megastore integrated campaign consist of four sub campaign use same theme to convey the messages but different target audience and different group of peoples. All the campaign conceptualized by the same team that is Happy creative agency founded in 2007 by Kartik Iyer to the objective of provide the communication and design service to the client also to do great work have fun and be happy with belief of an idea can change everything. First campaign was “No kidding n...
Inventory management is a method through, which a business handles tangible resources and materials to ensure availability of resources for use. It is a collection of interdisciplinary processes including a full circle from the demand forecasting, supply chain management, inventory control and reverse logistics. Inventory management is the optimization of inventories of manufactured goods, work in progress, and raw materials. According to Doucette (2001) inventory management can be challenging at times; however, the need for effective inventory management is largely seeing more as a necessity than a mere trend when customer satisfaction and service have become a prime reason for a business to stand apart from its competition. For example, Wal-Mart’s inventory management is one of the biggest contributors to the success of the company;
Purchasing process is the process of buying the right material, at the right quantity, at the right moment, at the right price and from the right supplier ( Heinritz et al, 1986). It can also be defined as the way an organisation behaves towards it suppliers, as suppliers are the pillar of strength for all organisations at large. According to We...
First, they get their own system to track down their inventory. If they recognize the deficiency in its inventory on their system, they can easily find out how to manage inventory to catch customer’s demands. It lessens the risk of occurrences of their out-of-stock events. Their system also includes supermarket’s supply chain. It does not focus on just inventory, but it can show managers that their all operations are working well by Wegmans’s strategy. Managers always check out its own supply chain and producing department. For example, they can log all their food’s record by mobile computing tablets. Manufacturers and date of manufacture are registered by all records associated with grocery. It can not only reduce staff requirements and expenses, but also gain
Inventory management is defined because a science mostly established art of guaranteeing that just enough inventory share is command with a company to fulfill demand (Coleman, 2000; Jay & Barry, 2006). it's mostly regarding specifying the size and keeping of stacked product. Inventory management is usually needed at completely distinct spots within a service or within multiple spots of a supply network to guard the standard and planned course of production up against the random disruption of running low upon materials or product. The scope of inventory administration also concerns the good lines between replenishment period interval, carrying costs of inventory, asset management, investment forecasting, inventory valuation, selection visibility,
Bharti, based in Delhi, India is a family owned telecommunication business, founded by Sunil Mittal in 1995. Mittal saw an opportunity for his business because the Indian telecom market allowing companies to bid for a government license to operate the first private mobile telecom service in Delhi. Bharti won the bid and became the first private provider in Delhi. In 1998 they were the first to make a profit from their services in India. As Bharti continued to grow they began gaining licenses for mobile telecom operations in 15 out of 23 geographical regions also called circles. Bharti expected to achieve full cover in India by 2005. .” (Applegate, Austin, & Soule)