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Report on E- commerce Overview Speaker: Mr. Maulik Patel, Sr. Consultant -Digital Strategy, IndiaMART

About the speaker:

Mr. Maulik Patel is an alumnus (2012-2014) of ITM Business School. He started his career as an Assistant Store Manager back in 2014 in Tata Croma- Infinity Retail. Currently, he is a Senior Consultant – Digital Strategy in IndiaMART. He has more than 7 years of experience in this field and also, he is an active member of “Biotechnology Frontier”, a group of Gujarat State Biotechnology Colleges.

 

Attendees:

Around 70 students as well as our respected professors joined us in the workshop. Students across various specializations such as Operations and Supply chain Management (OM&SCM), FinTech, Retail Management and Marketing (RMM) and Financial Markets including the seniors as well as juniors participated.

 

Overview of the session:

  • E-commerce overview
  • Retail operations and business
  • Interview tips

 

E-commerce overview:

E-Commerce or Electronics Commerce is a methodology of modern business, which addresses the need of business organizations, vendors and customers to reduce cost and improve the quality of goods and services while increasing the speed of delivery. Ecommerce refers to the paperless exchange of business information using the following ways −

  • Electronic Data Interchange (EDI)
  • Electronic Mail (e-mail)
  • Electronic Bulletin Boards
  • Electronic Fund Transfer (EFT)
  • Other Network-based technologies

 

Why Do People Buy ‘Online’?

  • Lower Prices
  • Accessibility and Convenience
  • Wider Choice

 

Why Do Businesses Sell ‘Online’?

  • Higher Margins
  • Scalability
  • Consumer Insight / Technology

 

Retail operations and business:

Retail operations is the term used to describe all the activities that keep the store functioning well. It includes people management, supply chain, store layout, cash operations, physical inventory, master data management, promotions and pricing. Operational excellence means achieving a sustainable competitive advantage through the optimization of retail operations. Important retail store operations consist of:

  • Store Atmosphere
  • Cash Handling
  • Prevent Shoplifting/Safety and Security
  • Customer Service
  • Refunds and Returns
  • Visual Merchandising
  • Inventory and Stock Management

 

There are different types of teams which work together and make a retail business successful. These are:

  • Functional work team
  • Inter-working team
  • Troubleshooting team
  • Category Team
  • Brand Team

 

Interview Tips:

  • Research the industry and company. ...
  • Clarify your "selling points" and the reasons you want the job.
  • Anticipate the interviewer's concerns and reservations.
  • Practice, practice, practice.

 

EndNote:

It was great learning from Mr. Maulik. We learned a lot from the session about how retails operations are carried out. It was an interactive session.