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Hr Challenges 2020 HR CHALLENGES 2020 UNIT-4,TOPIC-10 25/03/2020 R.Banu rekha/AP/MBA/Unit-4/HR 1/24 Challenges 2020-Flipkart Introduction • Online Retail Industry • It is one of the leading e-commerce players in the country •With over 11.5 million book titles listed, 11 different categories, more than 2 million registered users and sale of 30000 items a day. • Founded by Sachin bansal & Binny bansal in Bangalore, Karnataka in 2007. • Started with initial capital of INR 4 lakh. • 7 warehouses, offices and delivery centers (2011). • Revenue is of 75 Crore (FY 2010-11). • 4600+ employees till December 2011. • Subsidiaries are “We Read”, “Mime 360” and “Lets Buy”. 25/03/2020 2/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Management Team 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 Flipkart's corporate divisions which include the finance and legal departments. An avid gaming enthusiast, Sachin likes to spend most of his free time with his family. Sachin Bansal CEO and 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 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. Binny is also passionate about soccer and NBA. An active sportsman, he used to captain his school basketball and soccer teams. Binny Bansal COO and Co-founder 25/03/2020 3/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Management Team 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 company’s technological operations. These include innovation and application of technology in areas starting from supply chain to website management. Mekin is an avid sports fan and was actively involved in badminton, table tennis and cricket during his school and college days. Mekin Maheswari President, Technology 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. Sujeet loves playing bridge and poker. Sujeet Kumar President, Operations 25/03/2020 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020- 4/24 Flipkart Company History •Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. •They worked for Amazon.com before quitting and founding their own company. •Initially they used word of mouth marketing to popularize their company. •A few months later, the company sold its first book on flipkart.com - John Woods' Leaving Microsoft to Change the World. •Today, as per Alexa traffic rankings, Flipkart is among the top 30 Indian web sites and has been credited with being India's largest online bookseller with over 11 million titles on offer. •Flipkart broke even in March 2010 and claims to have had at least 100% growth every quarter since its founding. •The store started with selling books and in 2010 branched out to selling CDs, DVDs, mobile phones & accessories, cameras, computers, computer accessories and peripherals, pens & office supplies, other electronic items such as home appliances, kitchen appliances, personal care gadgets, health care products etc. •As of today, Flipkart employs over 4672 people. 5/24 25/03/2020 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Funding • Initially funded by the Bansals themselves with 4 Lakhs(INR). •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$10 million) (in 2010). •Private equity firms Carlyle and General Atlantic are in talks to jointly invest about $150 million to $200 million in Flipkart, according to sources. 25/03/2020 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart 6/24 Acquisitions 2010: WEREAD, a social book discovery tool.The stated goal was to give Flipkart a social recommendation platform for buyers to make informed decisions based on recommendations from people within their social network. 2011: Mime360, a digital content platform company. 2011: Chakpak.com is a Bollywood news site that offers updates, news, photos and videos. Flipkart acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said that it will not be involved with the original site and will not use the brand name. 2012: Letsbuy.com is India's second largest e-retailer in electronics. Flipkart has bought the company for an estimated US$ 25 million. 25/03/2020 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart 7/24 Screenshot 25/03/2020 8/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Research Questions • How did Flipkart get on to the top of India’s e-shopping market in just 4 years? •What were the strategies implemented by Flipkart to create online business in India? •There are millions of retail websites and not many have achieved even a fraction of the attention that Flipkart has. What is it that makes Flipkart standout? • What does Flipkart have that makes its model so Robust? • What is there strategy behind acquisition of lets buy. • What is there future road map? • What are the major threats for Flipkart? 25/03/2020 9/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Order Lifecycle • Attract users to the site Family, Friends, SEO, SEM,WoM, Brand Building • Provide selection Make it easy to Find & Discover products • Provide details to evaluate a product Description, Specifications, UGC. • Price well Have to be competitive to the most obvious options • Provide convenient payment options Online, COD • Confirm payment 25/03/2020 10/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Order Lifecycle (Cont…) Get the item Procure from Supplier (Just-in-time) (Supplier selection) Keep Inventory (Inventory Prediction, Planning) Clean & Check for sanity Pages missing, MRP printed lesser than told to you Pack the item Tamper proof, weather proof, breakage proof Select courier & hand-over Courier performances vary across regions a LOT Get tracking id & communicate to customer Follow-up for timely delivery Take care of returns (faulty product/user changes their mind) 25Minimize/03/2020 returns 11/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Why they acquired lets buy • They will be far ahead in the game, by the time Amazon make a full fledge entry with their own brand retail products in India. • It will make Flipkart stronger in the field of E-retailing. • This acquisition fits in to their strategy of building dominant shares in all the categories they operate in. • The price they paid for this opportunity was very attractive. •This will now, allow them to accelerate faster and to get to a share similar to what they enjoy in online books category. •This will strengthen the position of Flipkart in Indian market in light of the quiet entry of Amazon in Indian e-commerce industry through jungle.com. 25/03/2020 12/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart What Went Right for Flipkart! •The first and foremost was that we Indians were discarding our stone- age ways and beginning to shop online. •Another thing the two entrepreneurs, Sachin and Binny Bansal, did right was that they started off with books – a low capital investment and a fast turn-around time. •But the best thing they did was that they understood that too be successful in India, you need to be the God of Distribution. • In India, it’s amazing Logistics that prove to be the game-changer and that’s exactly what the folks at Flipkart have done. 25/03/2020 13/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart Challenges Faced By Flipkart •Initially when they started out, it wasn’t easy for us to earn the trust of the customer. • Handling customer complaints, without having a ‘face’ to our customer service proves to be bit of a challenge at times. •Not having the ‘display’ advantage, the ‘browsing’ feature and not being able to carry out promotional activities are some other obvious challenges. •The discomfort of paying by cards, on account of security fears is another challenge. They have now tried to address that by introducing the ‘cash-on- delivery’ option. •The fact that highest number of orders and sales get registered during weekends proves to be tough at times for logistics and customer service. •The fact that we have to work 24 / 7 and the customer perceptions around it also bring some difficulty (For example, the customer places an order at 12 am and counts the number of hours for delivery right from then!) 25/03/2020 14/24 R.Banu rekha/AP/MBA/Unit-4/HR Challenges 2020-Flipkart What makes it stand out? •The procurement model is at the heart of Flipkart’s success, as most delays or troubles occur in this part of business.
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