Mukund Vasudevan joins team Moglix as SVP :Strategic Partnerships
Mukund Vasudevan joins team Moglix as SVP :Strategic Partnerships
Mukund Vasudevan joins Moglix as SVP, Strategic Partnerships. He will be leading large transformation initiatives for Moglix customers and vendors globally. Vasudevan brings over 28 years of global leadership experience in the manufacturing and chemical sectors
I am passionate about manufacturing and making in India for the world. I am excited about Moglix’s vision to create the operating system of the future for the manufacturing sector. I look forward to being a part of the Moglix journey to make B2B supply chains more efficient through the use of technology,
Vasudevan said.
B2B Commerce Unicorn Moglix Acquires Vendaxo
B2B Commerce Unicorn Moglix Acquires Vendaxo
Moglix is proud and delighted to announce our recent acquisition of Vendaxo, an e-commerce platform for buying and selling used machinery. In a quest to build the operating system for the manufacturing sector, this acquisition will bring together complementary portfolios of manufacturing assets and will enable us to provide faster and scalable solutions to a larger number of customers at ease.
Vendaxo provides used machinery liquidation solutions to MSMEs and companies like Siemens, Arvind India, Marico, Raymond, and Torrent Pharma. This integration of Vendaxo in the Moglix ecosystem will prove to be a significant step in strengthening the vision of creating a sustainable and capital-efficient manufacturing ecosystem.
Supply Chain Consulting
Supply Chain Consulting
Supply Chain Consulting
What is Supply Chain Consulting
Supply chain consulting is a practice where consultants help companies make their supply chains effective and efficient. These consultants are often experts in the management of inventory and vendors. They have years of experience in procurement of raw materials, negotiating prices, and management of freight. Given the complexity of supply chains, you can significantly benefit from supply chain consulting.
How Does Supply Chain Consulting Help Companies?
A supply chain is the network of suppliers that companies have, from getting raw materials to supplying the product to their customers. Consultants can help them with every step of the supply chain process. Consultants can help companies with:
a. Planning the number of resources that will be needed at various times to meet the demand of customers. Consultants can lend their expertise to you in planning how much resources are required at different times.
b. Choosing the vendors to provide raw materials. Consultants might use their skills to make this step of the process more economical for you. They might suggest decreasing vendor ranges to increase efficiency. Buying in bulk to take advantage of economies of scale is another solution that consultants facilitate.
c. Coordinating delivery and logistics to supply the goods produced.
d. Creating a system to take back unwanted, discarded, and defective goods.
Importance of Supply Chain Consulting
Supply chain consultants have years of experience in supply chain management. They can utilize their skills to assess your supply chain and implement solutions to reduce costs. To ensure the flawless flow of goods and services from the point of purchase to the point of consumption, you should consider hiring a consultant. By
Consultants often implement tried and tested strategies like vendor consolidation where the range of vendors is reduced and the best vendors are selected. This strategy reduces the cost of purchasing, transaction costs, and increases efficiency.
Inventory management is another area where consultants can provide immense value. There are numerous practices you can implement to manage inventory. Consultants can help them decide which practice will be best given their operations.
Benefits of Supply Chain Consulting
- Benchmarking
The most effective way of sorting your supply chain is by measuring where it stands and where its strengths and weaknesses lie. Benchmarking uses relevant metrics to accurately assess the performance of your supply chain. It provides you with tangible metrics that you can use to find out various bottlenecks so that you can implement solutions. Consultants can help you accurately perform a benchmarking test. - Companies can leverage the expertise of consultants
Supply chains are complex and tricky. You might find it tough to get supply chain management right. Consultants can solve a variety of problems by implementing innovative solutions that they have learned from their years of experience. - Dealing with disruption
Supply chains were massively affected after nearly the entire world was locked down because of the pandemic. Since the chain is increasingly connected nowadays, any disruption in the chain can cause a domino effect and devastate supply chains the world over. In situations like these, consultants can step in to offer solutions so that you do not have to stop operations because of supply chain disruptions. - Technology
Many businesses are hesitant to try new and innovative technology. Consultants can implement solutions like RFID tags, WMS, Pick to Light, etc., to make management easier as well as reduce errors. However, choosing which solutions to implement is tough to decide. Moreover, the whole process involves significant costs. Here is where consultants can help companies in implementing the most relevant and appropriate technological solutions your company needs.
Conclusion
Supply chain consulting is one of the ways you can get ahead of your competition. By solving supply chain problems and addressing bottlenecks, you can reduce costs and increase profitability.
Industries & Impact
My vision for Moglix is to change the face of industrial commerce: Rahul Garg
Now and Next in the Infrastructure Sector
Moglix enabled Agile MRO Procurement at Scale through Workflow Digitization of large EPC company
Spend Management
Spend Management
Spend Management
What is Spend Management?
In simple terms, spend management is all about controlling the spending of your business. It is the process of accumulating, maintaining, and analyzing the spending data of an organization. The prime motive is to reduce costs, boost efficiency, and manage compliances.
Spend management is a holistic approach process that affects multiple functions across the business procurement cycle. It covers requisition processing, planning, budgeting, supplier management, and inventory management. Apart from this, it also includes sourcing, contract management, and product development.
Are Spend Management and Expense Management the Same?
No, spend management is different from expense management. Expense management is all about controlling employee-related expenditures. At the same time, spend management is more about controlling variable and discretionary business spending.
5 Ways Spend Management can Add Value to Your Business
- Higher Savings and Profitability
- Spend management assists in detecting duplicate procurements.
- It sheds light on different expenditures across verticals, and
- You can negotiate on bulk orders leading to direct savings.
- Improved Compliance
- Spend management improves spend visibility by tracing, organizing, classifying, and documenting different types of expenditures.
- It, in turn, helps in maintaining crisp spend data reports for auditors and other regulatory bodies.
- Mitigate Cycle Times
- The best part about spend management is that it helps in reducing product cycle times.
- It regularises recurring decisions by defining ground rules and metrics for them.
- All this further helps in whittling down the options and making faster decisions.
- Strategic Benefits
- Spend management promotes better transparency in the procurement process.
- It also gives higher financial control to the managers through accurate statistics.
- It improves organizational agility, productivity, and profitability.
- Manage Risk
- Spend management keeps track of vendors’ credibility and financial performance.
- It helps in identifying risk beforehand and amending procurement plans.
What are the Steps of Spend Management?
Step 1: Identify the Major Sources of Spending
The first step includes identifying the major expenditures in the organization like utilities, marketing, and more. At the end of this exercise, you will get a bird’ eye view of the spend statistics. It is also an excellent way to identify hidden savings options.
Step 2: Centralise Data
Ensure you appoint a team to centralize and maintain all the critical and sensitive data in one place. Apart from this, they must further analyze the data to get an integrated view of the business spending structure.
Step 3: Cleanse and Verify Data
You need to analyze further, interpret, and confirm the data to reach logical solutions. And how are you going to do it? By validating all the payment entries, deleting duplicate information, checking inventories, and more.
Step 4: Categorise Your Spend Data
Grouping data is crucial for the spend management process. All you need to do is make different categories and start allocating expenditures to them. You can also do it by creating versatile formats and data structures. At the end of the exercise, you will have a crystal clear expenditure status of every category on a single page.
Step 5: Analyse Expenditures
Using machine learning and artificial intelligence to analyze spend data will be a wise move for businesses. It will highlight the repetitive expenditures and help managers in creating spend benchmarks.
Step 6: Strategize and Execute Changes
Once you get everything straight on the table, it is the right time to strategize and implement changes. For the changes to be successful, it needs participation and acceptance of all the stakeholders.
Bottom Line
Unfortunately, many companies fail to understand the importance of spend management in current times. The result is time-consuming and inefficient processes. Thus, it is high time businesses get serious about managing their spending. No matter how big the business’s profits are, controlling expenditures is an excellent way to save money, effort, and time.
Industries & Impact
My vision for Moglix is to change the face of industrial commerce: Rahul Garg
Now and Next in the Infrastructure Sector
Moglix enabled Agile MRO Procurement at Scale through Workflow Digitization of large EPC company
Procurement
Procurement
Procurement
Businesses are reinventing their operations to adapt to the new normal and steady the ship. For manufacturing and production units, procurement of raw materials and other essential goods is an integral part of their daily activities.
In the post-pandemic world, businesses witness a makeover, and logistics is one of the critical components. If you are a manufacturing business, learning about procurement nitty-gritty becomes binding.
The more informed you are about the processes, the better decision-making abilities you will possess. Continue reading to learn about procurement in detail.
What is Procurement?
Procurement is the complete spectrum of activities within an enterprise related to purchasing goods, services, and works. It is an essential part of supply chain management in businesses, typically pertaining to manufacturing and production.
Since your business operations require raw materials to manufacture the end product, acquiring these materials at pre-negotiated prices and conditions is called procurement. You must note that procurement happens when one business purchases goods from the other business on a large scale.
Key Principles of Procurement
The procurement team or department of your business should have the following principles as the bedrock of procurement activities:
- Value: While pricing remains the pivotal factor, you must also look for the quality of products or services and overall business experience while procuring.
- Fair Competition: Your business should maintain transparency in the procurement process. It will help you in two ways: one, you won’t fall into any legal troubles. Second, you can find a supplier that provides the best deal.
- Ethics: Ensure that your business does not get involved in unethical practices. It will harm your reputation and skew the vendor selection process. Thus, the overall procurement process will suffer.
- Keeping Records: Accountability becomes easy when you have complete records of the activities.
- Equity: You should follow this principle to present the existing and potential suppliers with a level playing field to thrive.
Components Of A Procurement Plan
Your procurement team needs to include the following components while devising a plan:
- People: Depending upon your business and purchase order size, you can build a procurement team capable of handling the complete procurement process. While small and medium enterprises (SMEs) can prefer a smaller group of people, big firms require dedicated personnel for each stage.
- Processes: Your business should maintain transparency in the procurement process to avoid any legal repercussions and fraud. A well-designed process from placing the order to the final receipt would help you keep track of activities at every stage.
- Records: A comprehensive record-keeping, including transactions, messages, and other mission-critical information, ensures accountability of both buyer and vendor at any stage of the process. Also, your procurement team can analyze the vendor’s performance and relative costs.
Procurement Models
The series of steps associated with procurement defines the procurement model. Your business should follow one of the three procurement models listed below:
- Local Procurement Model: In this model, making decisions is at the local or departmental level. No centralization of the process means no involvement of higher management. It adds agility to the model but risks overspending.
- Centralized Procurement Model: Central management has complete control over procurement processes. Businesses keep overall budget and expenditure in mind before making purchase decisions.
- Hybrid Model: A combination of local and centralized procurement models is called a hybrid model. It gives an edge over both models, as local departments enjoy autonomy under the central management.
Types Of Procurement
You can divide the procurement process into two types: Direct Procurement and Indirect Procurement. Let us understand them in detail.
Direct Procurement
The raw materials your business procures to manufacture the end product is direct procurement. Its input cost and efficiency determine the performance and profitability of your company. Any hindrance to its supply can hamper the manufacturing process.
Indirect Procurement
It refers to the procurement of services not linked with the manufacturing process directly but essential for daily activities. Maintenance services of equipment and office supplies are indirect costs borne by your company. Any challenges to indirect procurement can hamper business operations.
Industries & Impact
My vision for Moglix is to change the face of industrial commerce: Rahul Garg
Now and Next in the Infrastructure Sector
Moglix enabled Agile MRO Procurement at Scale through Workflow Digitization of large EPC company
Packaging Design
Packaging Design
Packaging Design
What is Packaging Design?
There are many ways for a customer to distinguish your brand, and product packaging is on that list. From selecting product packaging to its design, everything resonates with the customer’s perception of your brand.
The product packaging you choose can establish your brand identity as it acts as a platform to present your products. Customers can look at it as the face of your entire organisation.
You need to brainstorm to develop the right kind of packaging to boost your sales and get an edge over competitors. Merchants have this tendency to overlook packaging; however, it can dent the overall shopping experience of customers.
To save you from those blips, we will cover all about packaging design here.
Things To Consider Before You Design
Conducting research is the key. When you are thinking of establishing your brand’s identity through product packaging design, you need to look beyond colour, shape, size, visuals, among others.
Here are four key points to consider:
- Your Target Audience: You need to put yourself in your audience’s shoes to find out what they would prefer in packaging design.
- Generate The Right Feeling: The way you approach your audience will come in handy with the design you want to develop. For example, skincare products will look good in natural, rustic packaging, but clinically-crafted products may not.
- Support Your Brand: If you have a logo, website, and brand name already garnering attention in the market, your packaging should blend with it.
- Competitor Analysis: You should keep an eye on your competitors. It would help if you understood what the industry trends are.
Types Of Packaging Design
On our website, we have listed three types of packaging design according to the products.
Primary Packaging
This form of packaging is in direct contact with the product. We also call it the Consumer Unit. The primary purpose of this packaging is to safeguard the product from damage, spoilage, and contamination.
Some of the key features of primary packaging are:
- It has direct contact with the product.
- It lets consumers handle products easily.
- It adds an appealing look to the products.
- It contains printed information about the product for consumers.
Examples: Polybags, VCI Bags, Mono Cartons, Food Trays, Vacuum-formed Trays, Paper Bags, Blister Packs, Glass Bottles
Secondary Packaging
It is the second layer of packaging that is outside the primary packaging. Essentially used to create a stock keeping unit or SKU, it groups a certain number of products. This packaging acts as a protective layer for the primary packaging. Also, secondary packaging makes the product easily identifiable in warehouses.
Here are its key features:
- It protects the primary packaging of products.
- It is customisable to give products an identity in warehouses.
- It acts as a shipping container in the e-commerce industry to deliver small shipments.
Examples: Seals & Barcodes, Woven Sacks, PP Flute Boxes, Plastic Crates, Air Cushions, Air Bubble Rolls, Angle Boards, Courier Bags
Tertiary Packaging
We refer to it as bulk or transit packaging to transport large SKUs from one point to another. For instance, if you want to shift units from production to the point of sale. Tertiary packaging makes transportation of heavy loads safe and secure.
Below are its key features:
- It is ideal for shifting heavy loads from one point to another.
- It enables easy handling of distribution units.
- It prevents any damage to SKUs.
- It also facilitates easy storage of goods.
Examples: Wooden Boxes, Corrugated Boxes, Fibreboard Drums, Stretch Films, Strap Rolls, Tapes, Labels & Stickers, Pallets
It is also important to note that packaging design should be environment-friendly to support sustainable development goals. Hence, it would be best if you looked for a packaging solution that ticks all the boxes.
Industries & Impact
My vision for Moglix is to change the face of industrial commerce: Rahul Garg
Now and Next in the Infrastructure Sector
Moglix enabled Agile MRO Procurement at Scale through Workflow Digitization of large EPC company
Enabling the Future of Oxygen Concentrator Procurement
Enabling the Future of Oxygen Concentrator Procurement
The second wave crisis of COVID-19 in India has sparked the need for oxygen concentrator procurement to meet the shortage of oxygen supply across the health continuum. The demand for concentrators has increased from 40,000 per year to 30,000–40,000 per month. If your NGO or resident’s welfare association (RWA) is looking for reliable oxygen concentrator procurement solutions, we have got you covered.
Why Should Your RWA and NGO Procure Oxygen Concentrators?
As patients battle for bed and medical oxygen supply, oxygen concentrators can play a significant role in moderate and extreme in-home/clinic treatment. Usage of these concentrators can ease the strain on hospitals while providing patients with a much-needed window to plan their medical treatment.
What Are the Benefits of an Oxygen Concentrator Bank?
An Oxygen Concentrator Bank or a streamlined oxygen refilling bank with a standardized operating procedure covering clinical guidelines will be beneficial to smoothen the collection and distribution of oxygen concentrators. It will be an efficient service that can be initiated by the local authorities to help thousands of families in distress and urgently need oxygen.
It will eventually help balance the demand and procurement ratio so that enough oxygen is available to overcome the prevailing demand of hospitals and residents. How can you create an oxygen concentrator bank for your RWA and NGO?
Here are five tips on oxygen concentrator procurement for NGOs and RWAs.
1. When to use oxygen concentrators?
Oxygen concentrators can only be used in mild cases of COVID-19 when the patient’s oxygen levels are dropping and the oxygen requirement is at a maximum of 5 liters per minute. Use an oxygen concentrator only for mild and moderate cases when oxygen saturation is >90%.
Patients with mild COVID-19-induced pneumonia with an oxygen saturation of less than 94 will benefit from extra oxygen administered by an oxygen concentrator, but only before the need for hospitalization arises.
You are not at risk of oxygen poisoning if you follow your doctor’s professional judgment in your oxygen therapy.
2. What should be the order size?
Keep 1%–2% of community strength as the number of oxygen concentrators required. The appointment of police officials and managers to coordinate with the RWAs for the smooth working of the oxygen cylinder bank should be the critical point of the SOP.
Each specified official should be responsible for a specific task to ensure the delivery of the refilled cylinder to the deserving family or candidate, getting the cylinder back when the need for refilling is over, then allocating it to the NGOs and RWAs.
3. How to ensure equitable distribution?
Local authorities should accept all types of oxygen concentrators and cylinders from residents. The refilled oxygen concentrators and cylinders should be given to respective NGOs and RWAs to further lend them for a few days as per the need.
The usage terms to borrow a concentrator for 3–7 days should be part of the SOPs. Moreover, NGOs and RWAs should receive refilled cylinders within 24 to 48 hours, which will help to deal with critical patients in a decentralized manner. The division of specific time slots to procure an oxygen cylinder, collect empty cylinders, send to refill, and allocate a filled cylinder will create an efficient distribution system. A special team can parallelly procure oxygen and collect medical documents and carefully check the prescription of the person needing it to validate the demand.
Additionally, volunteers can help organize home quarantine programs, mental health counseling services, a volunteer SOS task group, insurance coverage, and a COVID support fund for the COVID warriors and workers who keep the vital supply chain going.
4. How to ensure safety and hygiene rules?
Ask the oxygen cylinder suppliers to sanitize and hold back used oxygen concentrators 24 hours before subsequent use. Check for the flow rate capabilities of the oxygen concentrator before distribution so that high and low flow rate concentrators can be collected and distributed separately.
With the help of local government officials, senior colleagues, and administrators, create an oxygen guideline. The SOP should include a training scheme for physicians, nurses, and other oxygen users—implementing the agreed-upon hospital strategy and creating dosage and patient observation sheets to help standardize oxygen therapy.
5. How to track and trace orders and deliveries?
Ask for a dedicated resource for your community from the supplier to act as a single point of contact. Coordinating with the oxygen cylinder bank, oxygen concentrator suppliers and a collaborative effort to make different zones within the specific area for refilling the cylinders will help reach the required facility on time.
With these tips, NGOs and RWAs can make the procurement and distribution of oxygen concentrators efficient. The oxygen supply chain workers and the NGOs and RWAs looking for oxygen cylinder procurement should consider the following points:
- Check for the power consumption, warranty, size, and portability of the oxygen concentrator. The noise level should be between 40 and 58 decibels.
- Avoid being close to open flames while using an oxygen concentrator or tank. Keep a distance of at least 10 feet from open flames. Ensure that cigarettes, lamps, and gas stoves are out of reach.
- When using oxygen treatment, avoid using an electric razor; they have a knack for spitting sparks.
- When using supplemental oxygen, avoid putting on or taking off clothing that is vulnerable to static electricity.
- Since oil- and petroleum-based materials are flammable, please do not use them on the face while using oxygen.
Please contact us at info@moglixbusiness.com if your NGO or residents’ welfare association is looking for oxygen concentrator procurement solutions. We can assist you in establishing comparable group-sharing models for your local community and share our expertise and SOPs with you. Let us collaborate now to make a difference in people’s lives! Contact Us
It takes Rahul Garg’s toolkit to make an industrial goods platform a unicorn
It takes Rahul Garg’s toolkit to make an industrial goods platform a unicorn
Sensing the oncoming storm, Rahul Garg knew that India is heading towards trouble. Within a few weeks in April, Mr. Garg and his team at Moglix began working with manufacturers of oxygen concentrators in India, while also sending charter flights to China and Germany to procure the concentrators. Since then, the company has procured some 6,000 oxygen concentrators, which Moglix has been selling to corporate and industrial houses in India. They, in turn, have been giving them to their employees on a group-sharing model, based on a template developed by Garg and Moglix
“We have probably touched half a million lives through oxygen concentrators,”
Rahul says
Moglix, a company that Garg founded in 2015, is part of a consortium where 10 manufacturers have come together to ramp up oxygen concentrators to make India self-reliant in the segment.
Read More“We are working with them on both the global and domestic supply chain on raw materials,”
Rahul adds
Join our team at Moglix, India’s latest unicorn, and fastest-growing B2B marketplace
Join our team at Moglix, India’s latest unicorn, and fastest-growing B2B marketplace
Work where it matters! Join our team at Moglix, India’s largest and fastest-growing B2B marketplace, which now has joined the unicorn club. With close to 500,000+ SKUs, Moglix has a supply chain network of 16,000+ suppliers, 35+ warehouses, and logistics infrastructure, making its marketplace the largest eCommerce platform in the industrial goods category in India. If you’d like to be part of Moglix’s growth story, these job openings may be for you.
Lessons and Insights From HR Leaders During Pandemic
Lessons and Insights From HR Leaders During Pandemic
On the occasion of International Human Resources Day, Read some interesting insights from the leading HR professionals of India Inc. and the lessons learned from the last 1.5 years, since the pandemic struck.
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