Moglix enroute the next wave of rapid growth
Moglix enroute the next wave of rapid growth
Rahul Garg, CEO and Founder recently shared his vision on how Moglix is gearing up for the next wave of rapid growth. He also mentioned that based on various strategic initiatives and strong financial performance last year Moglix is planning to break even in 18 months.
Expanding to newer geographies will also part of his rapid growth strategy, though he believes that it won’t be as straight forward as it sounds, since there aren’t many companies in the similar space.
“There are a lot of things that we need to do as an organization to expand [such as] grabbing more of the market share. We have the best global names that can be on any cap table. So, I think working together to expand globally is the key thing for us”
Pitching For A Procurement Transformation? Here’s Your Checklist Before You Take the Big Leap
Pitching For A Procurement Transformation? Here’s Your Checklist Before You Take the Big Leap
Procurement transformation is a continuous process evolving with technological leaps and digital revolutions. Touchless procurement, ease of discovery, catalog-based buying, sustainable procurement, catalyzed ESG policies, and visibility across the value chain are some benefits that can emerge from a procurement transformation if executed with precision and fastidiousness. However, pitching for procurement mutation can be a tricky task.
Pitching to the Manufacturing Head
A presentation is more likely to succeed with the manufacturing chief if it pivots around the overwhelming importance of digitization and decentralization. A catalog-based purchase platform will tabulate and digitize the list of reliable vendors, which will, over time, aid in filtering out suppliers whose performance and cost-effectiveness outmatch others.
Pitching to the CFO
If a pitch must be made to the CFO, the procurement transformation is more likely to come to fruition if it emphasizes the anticipated cost reductions that will accompany the weeding out of teams engaged in non-value-generating activities.
Pitching to the CEO
A procurement transformation prioritizing customers and their responses will draw greater attention from the CEO.
Why Does Your Company Need A Procurement Transformation?
1. Evaluating the Topline and Profitability Impact of Procurement Transformation
2. Measuring Success at Each Milestone of the Project
3. Avoiding Common Roadblocks
4. Getting Quick Wins
The Final Word
In the new scenario, a procurement officer will have to forego the reliability, stability and predictability of the old matrix and anticipate new seismic shocks to the procurement chain from all corners. These shocks could be systemic, as was the case with the pandemic or financial, as is the case with inflationary pressures or triggered by larger geopolitical tensions. The work of tightening the nuts and bolts of a procurement pipeline is seemingly unending and is a part of the business hygiene of a company.
Rahul Garg’s Exclusive Interview
Rahul Garg’s Exclusive Interview
Date : June 27, 2022
Organizer: India Now, Australian Broadcasting Corporation
About the Event: Our Founder & CEO, Mr. Rahul Garg recently shared his views in an informative session with the Australian Broadcasting Corporation where he shared his views on Moglix and how it is working in sync with the Indian government’s vision to bring digital transformation in India.
CX Excellence Awards- Propelling CX from the boardroom for accelerated growth
CX Excellence Awards- Propelling CX from the boardroom for accelerated growth
Date : June 24, 2022
Organizer: Quantic
About the Event: Mr. Abhi Dasgupta, Senior Director- Customer Success, Moglix recently shared his perspective on ‘Propelling CX from the boardroom for accelerated growth’ at Quantic’s CX Excellence Awards 2022
CII EV Summit
CII EV Summit
Date : June 24, 2022
Organizer: CII
About the Event: Mr. Rishi Arora, Vice President, Moglix recently shared his perspective on ‘Digital First Procurement’ at the CII Sothern Region EV Summit. While laying emphasis on strengthening the digitization of supply chain processes, he went on to add: “Focus on localization & sustainability, cost reduction, and efficient inventory management through cycles of demand fluctuations, are some critical factors that will drive the adaption of Digital First procurement. Our platforms enable seamless collaboration between users and provide a suite of solutions for process automation, analytics, vendor management, and hyper local fulfilment.”
Awareness Seminar on Export Finance Solutions in association with Tiruppur Exporter Association
Awareness Seminar on Export Finance Solutions in association with Tiruppur Exporter Association
Date : June 2, 2022
Organizer: Credlix
About the Event: Mr. Pramit Joshi, Director, Credlix shared his perspective at awareness seminar on Export Finance Solutions which was done in association with Tiruppur’s Exporter Association on 2nd June where our Credlix team interacted with the handicraft and furniture exporters on their Pre & Post-shipment Finance and Protection against Buyer Bankruptcy
Awareness Seminar on Export Finance Solutions in association with Export Promotion Council for Handicrafts
Awareness Seminar on Export Finance Solutions in association with Export Promotion Council for Handicrafts
Date : May 31, 2022
Organizer: Credlix
About the Event: Mr. Mayur Totla, Director, Credlix shared his perspective at awareness seminar on Export Finance Solutions which was done in association with Export Promotion Council for Handicrafts (EPCH India) on 31st May in Jodhpur where our Credlix team interacted with the handicraft and furniture exporters on their Pre & Post-shipment Finance and Protection against Buyer Bankruptcy.
What Does the 500 GW CAPEX Opportunity in Solar Energy Mean for EPC Companies?
What Does the 500 GW CAPEX Opportunity in Solar Energy Mean for EPC Companies?
Here’s the big bang news from India’s solar energy sector. In February 2022, India surpassed 50 GW of total installed solar capacity. What does this imply for EPC companies with interests in solar energy?
The Opportunity Size for EPC Companies in India’s Solar Energy Landscape
India has set an ambitious goal of producing 500 GW of renewable energy by 2030. Out of the targeted 500 GW of renewable energy, about 300 GW will be supplied by utilizing India’s immense solar energy potential.
The road to achieving over 300 GW of installed solar capacity represents a steep curve. Whatever challenges waylay India from achieving its solar power goals can be overcome with a concerted push by a superior collaboration between the government, EPC companies, OEMs, and suppliers.
How Do We Locate the Coordinates of Value in India’s Solar Energy Value Chain?
Out of the 50 GW solar capacity in India, over 42 GW stems from photovoltaic (PV) systems mounted on land, whereas around 6.48 GW comes from roof-top solar, and 1.48 GW is generated from off-grid solar PV. Ground-mounted PV systems are investment intensive and strain the company’s capital expenditure capabilities to expand its solar energy operations.
Modules, Share in Solar Energy Project Costs: 70%
Modules comprise the most significant cost component of about 70% of solar energy projects. India still imports 80-90% of its solar components.
Going with India’s Aatmanirbhar policies, the Union Budget FY23 has allocated an additional INR 19,500 crore to the Production Linked Incentive (program) to enhance India’s PV manufacturing heft. India’s production-linked incentive push to the solar industry has meant that Indian solar modules manufacturers are fast bridging the gap.
Modular Mounting Structures, Share in Solar Energy Project Costs: 10%
MMS accounts for 10% of the solar energy project costs. Modular Mounting Structures (MMS) are the supporting structures for the modules. Without these Modular Mounting Structures supporting the modules, the solar energy plant will fail miserably, considering that the modules need to be aligned at the right angle to catch the maximum possible solar irradiation.
The highest potential installation of the modules is a mark of competency of the EPC company. A strategic sourcing partner with broad experience in cultivating and consolidating a supplier base can help EPC companies access many suppliers who produce MMS at cost-effective rates without diluting quality benchmarks.
Transformers, Share in Solar Energy Project Costs: 10%
Transformers constitute about 10% of the total costs incurred in a solar energy project. These are specialized equipment manufactured by a select few vendors across the length and breadth of the country.
Sourcing transformers can be a very tricky task requiring coordination and calibration between several players in the pipeline. While procuring, it is necessary to ensure that the vendor’s background is strong enough to withstand a credibility check.
A good vendor can provide a track record of the customers serviced. Moving expensive machinery like transformers is riddled with problems and roadblocks at every turn, and without complete value chain visibility, chances of compromise on quality, delays, and logistical mishaps multiply manifold.
Next is What? Setting New Benchmarks and Bridging Gaps in the Solar Energy Supply Chain
In 2021 alone, India added a record-breaking 10 GW of solar power to its total power capacity. The solar energy capacity addition in 2021 registered a phenomenal rise of 200% over 2020, indicating an immense appetite in entrepreneurs to explore this avenue.
However, enthusiasm will have to be coupled with new-age procurement and supply chain capabilities for a solar energy project to be successful.
How Moglix MaaS Solutions for Solar Energy Projects Can Benefit EPC Companies?
Moglix’s solutions ensure that the supplier base is consolidated, inefficiencies in the logistic chain are weeded out, and the end-to-end digitization of the value chain lends unparalleled clarity to EPC companies. Moglix’s vast experience in this domain can help you navigate the source to site supply chain journey. To know more, click the link here
The Road to 500 GW Solar Energy in India and What EPC Companies Need
The Road to 500 GW Solar Energy in India and What EPC Companies Need
India is witnessing an unprecedented push for solar energy generation. By 2030, India plans on generating 500 GW of power from renewable energy sources. Out of this, 300 GW is meant to be generated from solar energy, and by the end of February 2022, India’s total solar installed capacity stood at 50 GW. Let’s dive deep into the challenges beset India’s road to 500 GW of solar energy generation.
1. Working Capital Optimization
OEMs and suppliers need working capital to maintain just-time-deliveries. The first step is for the EPC company to create a particular purpose vehicle (SPV) with a strategic sourcing partner. The strategic sourcing partner works alongside the client to meet liquidity gaps and is adequate assurance that working capital paucity does not halt operations.
2. Capital Expenditure and Credit Support
The cost for setting up a solar energy park in India amounts to INR 3200 Cr to 3500 Cr. Capital expenditure of such large amount calls for large scale credit support. Any EPC company looking to finance infra projects must be bolstered by adequate capital flows to stay committed to a project from its inception to its culmination. EPC companies will find synergy in procurement and financing operations in a strategic sourcing partner with large capital reserves.
3. Logistics
There are far too many examples of solar energy infrastructure projects that cost inordinately more than allocated funds. The supply chains of these projects are highly mismanaged with a fragmented vendor base and without logistics route optimization that leads to delays in procurement. Power project equipment, be it solar modules or modular mounting structures, can be sourced from reliable vendors, while logistics optimization enables just-in-time deliveries.
4. Operational Rigor
Solar energy EPC companies often incur project costs and time overruns. A project can, sooner rather than later, lose its mojo to a halt because of an ever-evolving, disruptive logistical or financial environment.
A strategic sourcing partner with dual prowess in the financing and supply chain domain can steer the project towards accelerated completion and fast-paced productivity without bottlenecks in capital deployment or raw material sourcing.
5. Digital Project Management
Say, a solar power project needs to source four transformers, niche products manufactured by only a select few vendors in India. The strategic sourcing vendor will execute the task of selecting the right OEM that meets the project’s custom demands. Once the order is placed, the digital project management solution will keep the solar EPC company updated about the status of the manufacturing of the transformer, delivery timelines, design and drawing challenges, if any, faced by the supplier and financing problems.
This visibility isn’t limited to transformers alone. Many capital goods including modular mounting structures and solar modules can be monitored with ease.
Moglix and EPC Companies in India: Connected Future of the Energy Supply Chain
Moglix can help you leverage the power of cloud-based project management and inject transparency, speed, and cost-effectiveness into the energy supply chain. Our solutions, which include but are not limited to consolidating the vendors’ list, predictive course correction, and a single-interface birds’ eye view of the project, can help revamp your workflow. To know more about how Moglix can help your EPC business, visit https://business.moglix.com/blogs/manufacturing-as-a-service/
EPC Companies Can Catalyze India’s WEF Davos 2022 Goals. Here’s How
EPC Companies Can Catalyze India’s WEF Davos 2022 Goals. Here’s How
Net zero by 2070 is a crystal-clear target with a timeline. What are the carbon emission challenges facing EPC companies in India? How can EPC companies be a part of the supply chain solution? What are the rewards if any for EPC companies in India for meeting the target of net zero emissions?
Cost Benefit Analysis of EPC Companies’ Mandate to Reach Net Zero Carbon Emissions
Manufacturing and construction, energy, and logistics are the three most important components of the supply chain of EPC companies.
Of the gross GHG emissions of 3364 MT CO2e in India, manufacturing and construction account for 690 MT CO2e (20.5%), energy for 1373 MT CO2e (40.8%), and transport 305 MT CO2e (9.06%). The cumulative GHG emission of 70% MT CO2e corresponds to a GDP loss of USD 350 billion.
On the contrary, a WEF research dated November 2021 asserts that solving for the net zero equation can add USD 1000 billion to India’s GDP by 2030 and USD 15000 billion by 2070.
The Supply Chain Agenda for EPC Companies to Act on WEF Davos 2022 and Net Zero
1. Address Compliance Challenges in the EPC Segment with Fit for Audit Data
Anything that cannot be measured, cannot be managed. The first step in the transition to net zero and WEF Davos 2022 ambitions is to start measuring and monitoring all transactions in the supply chain. That calls for a unified data governance model with user access on a “need to know basis” between procurement, operations, supply chain, finance, and technology teams at EPC companies.
2. Resolving Reporting Challenges with Knowledge of Cost Vs GHG Emission Metrics of Procurement Choices
Valuable supply chain data that is spread across silos, files, and offline records makes reporting difficult. EPC companies need a one page view of GHG emissions. Corporate leaders at EPC companies can switch to a digital catalog based buying solution that maps GHG emissions corresponding to units of measurement (UoM) of SKUs such as TMT bars, structural steel, CR & HR plates, precast concrete slabs, etc. That data allows them to know the cost efficiency vs carbon emission tradeoffs involved with the procurement choices they make.
3. Enabling Material, Supplier, and Logistics Substitutions in the Supply Chain
EPC companies are multi-site operators that can have either of the two supplier relationship management models.
First, they can have 300 suppliers supplying say 5 SKUs for each for 50 sites across India. Assuming that EPC companies procure each SKU at least once a month, they need to map carbon emissions for each of these 300 X 5 X 50= 75,000 transactions a month!
On the other hand, they can have a supply chain transformation, conduct a vendor consolidation exercise and enroll all 300 suppliers into its supply chain ecosystem. That reduces EPC companies’ workload to mapping carbon emissions from 5 X 50 = 250 transactions a month!
The supply chain transformation partner also takes the responsibility for finding substitute sustainable materials and suppliers that manufacture them.
The EPC company benefits from reduced costs, efficient resource utilization, and higher accountability, while environmental concerns are mitigated through bulk purchasing of sustainable materials like fly ash and pre-cast concrete slabs.
Moglix and EPC Companies in India: Connected Future of the Green Infra Supply Chain
Moglix can help you leverage the power of data analytics and inject accountability, visibility, and cost-effectiveness into the infra supply chain. Our solutions, which include but are not limited to consolidating the vendors’ list, predictive course correction, and a single-interface birds’ eye view of the project, can help revamp your workflow. To know more about how Moglix can help your EPC business, visit https://business.moglix.com/our-solutions/infrastructure
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