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Sanjay Medhavi Subject: Information Management in Business Year: 2012-14 Course: MBA II (Section-A)
I am thankful to our learned teacher Mr. Sanjay Medhavi (Department of Business Administration). This Information Management in Business project entitled Management Information System of flipkart.com has been possible through the efforts of our respected teacher. I am thankful to sir for giving essential and useful guidance from time to time in understanding the concepts.
INTRODUCTION
Flipkart is an electronic commerce company which was established by Sachin and Binny Bansal in 2007 with the objective of making books available to everyone who had internet access. Now it is among Indias largest online retailers with reported sales of Rs 12 billion for year 2011-12. Sachin Bansal and Binny Bansal both are alumni of Indian Institute of Technology Delhi. They started this company after quieting their jobs in Amazon.com with a vision to be one of the largest multi-category e-commerce destinations in India, with a strong focus on customer service. Along with time, Flipkart diversified across various categories including movies, music, games, mobiles, cameras, computers, healthcare and personal products, home appliances and electronics. According to the co-founder Sachin Bansal, We started with books because they are comparatively easy category products to sell online. They do not require huge inventory maintenance, are easier to negotiate supplier terms and profit margins are high. Also since books are low value items, inducing customer trial was easy. It was a safe option to start off with books, given their appreciation in e-commerce the world over. Now Flipkart have about 11.5 million book titles, 11 different categories, more than 2 million registered users and sale of 30,000 items a day or 14 items per minute which makes it India's answer to Amazon. Currently, Flipkart has registered sales of nearly 2.5 million items across all categories.. With pathbreaking features like Cash/Card on Delivery, 30 Day replacement policy and EMI options, Flipkart has now made it possible for anyone across the country with internet access to shop online. The Flipkart experience is characterized by the intuitive user interface, free shipping and low prices. As a testimony to the superior customer experience, the company has consistently recorded repeat purchase rates of more than 70%. Backed by a significant funding of $31 million, Flipkart is rapidly expanding its network of warehouses, distribution centres, procurement operations and 24/7 customer support teams. The company even has its own delivery network in 13 cities and is set to expand this to 25 cities by next year. With a team of around 2500 members, the company operates from offices in Bangalore, Mumbai, Delhi, Chennai and Kolkata.
MANAGEMENT TEAM
Mr Sachin Bansal (CEO & Co-founder): Sachin spent his early years in Chandigarh. He graduated from IIT-Delhi with a degree in Computer Engineering. In 2006 he joined Amazon.com in India which he later left to set-up Flipkart. As CEO, Sachin oversees all the customer facing activities of the company ranging from technology to marketing. He is also in charge of Flipkarts corporate divisions which include the finance and legal departments. Mr Binny Bansal (COO & Co-founder): Born and raised in Chandigarh, Binny went on to get a degree in Computer Engineering from IIT Delhi. He had a brief stint at Amazon.com before taking the entrepreneurial plunge with Flipkart. At Flipkart, Binny oversees all operational activities that come into play from the time the customer places an order till the time of delivery. This spans across divisions like warehousing, logistics and customer support. Mekin Maheswari (President, Technology): Mekin completed his B.E. from PESIT Bangalore in 2002. He started his career with Yahoo! and then went on to join Ugenie where he created weRead, a successful social network around books. At Flipkart, Mekin is responsible for overseeing the companys technological operations. These include innovation and application of technology in areas starting from supply chain to website management. Sujeet Kumar (President, Operations): Sujeet completed his engineering from IIT Delhi. He worked in the KPO industry and orchestrated several freelance projects before joining Flipkart in 2008.At Flipkart he is responsible for overseeing supply-chain, warehousing and logistics. He is also in charge of business development for all categories.
2) Acquisitions:
Initially funded by the Bansals themselves with Rs 4,00,000, Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009)and Tiger Global management (up to the tune of US$20 million or Rs 100 Crore) in 2010.
offer a more intuitive view for the consumers than the photographs that are on display now. Flipkart could also look to develop their product pages in a better manner than they are right now, with lesser unnecessary data being displayed. Customised Delivery Dates: As an extension to the gifting service, Flipkart could look at offering customer chosen delivery dates for the same, beyond a threshold date that Flipkart can provide.
For the local parts of the cities where the warehouses of the company exist products are delivered using two-wheelers, bicycles, or on foot depending upon the proximity of the place and because of this many of the deliveries are made within a day of the order being made. All the Team Members have been trained to work efficiently to meet customer expectations.
When the product needs to be returned then due to the companies understanding with the courier companies it happens without any disputes or problems efficiently. Flipkart takes care of the after -sales needs of its customers with regard to delivery of an item or addressing grievances including delayed delivery by the logistics partner, or addressing issues when an incorrect product is delivered. In the case of electronics, warranty and after-sales service is largely the responsibility of the manufacturer. Flipkart does however facilitate interaction between the customer and manufacturer/service center as and when the need arises.
Seeing the prospects of growth a lot of new online retailers have come up and there is a price war going on to attract more and more customers which is putting pressure on the profitability of the companies so it has become extremely important to manage cost to increase profits which is only possible by building an efficient backend- a nationwide delivery network, warehouses , inventory management , logistics, efficient teams to manage all this therefore supply chain management becomes an important factor on which companies depend to sustain in this industry. Flipkart obtained funding from Tiger global management in 2010 which is being utilized by the company for strengthening supply chain capacity and upgrading technology platforms, including automation at warehouses.
CONCLUSION
On the whole, Flipkart, through its methodical approach of expansion of product categories, rather than starting off as a Jack of all trades is slowly emerging as the Amazon of the Indian e-Commerce arena. With a strong logistics and customer focused approach, Flipkart is slowly taking steps into becoming a giant in the e-Commerce space. Future scope for development includes wider range of products and international shipping etc.
REFERENCES
http://logisticsweek.com/news/2011/03/not-only-words/ http://www.flipkart.com/about-us http://www.livemint.com/2011/06/16233030/Flipkart-raises-20-mn-fromTi.html Articles from Economic Times