“Title” Summer Internship Report Submitted to VEL’S INSTITUTE OF SCIENCE, TECHNOLOGY AND ADVANCED STUDIES (VISTAS) (VELS UNIVERSITY) (ESTD. U/s 3 of the UGC Act, 1956) In partial fulfillment for the degree of the requirement for the award of the degree of MASTER OF BUSINESS ADMINISTRATION (LOGISTICS & SUPPLY CHAIN MANAGEMENT) Submitted by K.V.ANOOP (09305105) Under the guidance of Mr.M.MUTHU RAMAN, M.B.A, M.Phil.
SCHOOL OF MANAGEMENT STUDIES (VIBA) VELS UNIVERSITY P.V.VAITHIYALINGAM ROAD, OLD PALLAVARAM CHENNAI-600 117 (2009-2011)
School of management studies (VIBA)
BONAFIDE CERTIFICATE
This is to certify that internship report titled “A STUDY ON VENDOR AND GOODS INWARD MANAGEMENT “is a bonafide record of work carried out by K.V.ANOOP (09305105) School of management studies, under VELS UNIVERSITY submitted in partial fulfillment of the requirement for the award of the degree of master of business administration from the VELS UNIVERSITY.
HOD- management studies
Acknowledgement
(PROJECT GUIDE)
This project report was written during the period June-July 2010 and is the result of 4 weeks of hard work. These 4 weeks have been a very interesting period that has provided me with a deeper knowledge about the area of Store operation. With this project, I hope to develop a futuristic view of industry’s progress. A study like this cannot be completed without help from other persons and therefore I would like to express my gratitude to all persons having contributed for completion of this project. First of all, I would like to thank Mr.Ishari.K.Ganesh, M.Com, MBA, PhD., Chancellor of VELS University, for giving me an opportunity and encouragement to do projects outside to learn things practically and gain knowledge regarding our subjects. I am very much grateful to DIRECTOR-M.B.A Dr.P.GOVINDHARAJEN, M.A., and PhD Master of Business Administration vel’s university for providing me all the facilities during the period of my study in this college. I would like to thank Mrs. Preetha M.B.A, M.Phil, Head of the Department of VIBA, MBA, VELS University for encouraging us to complete the project on time and giving necessary tips. I would like to thank Mr.M.Muthuraman, MBA. M.Phil, guiding me for this whole project from the beginning to the end and giving necessary suggestions and corrections without hesitation for the doubts and questions asked by me. Furthermore, I would thank to Mr. Udhay Shankar HR Manager Big Bazaar and Mr.Karthick Sharma Marketing Manager Big Bazaar to provide us relevant information for this project with guidance, inspiration, perspective and stimulating discussion, throughout the writing of this report. Last but not least, I thank my parents and all the friends and well wishers who helped me to complete this report successfully.
DECLARATION
I Anoop.K.V, student of the Department of Business Administration, Vels university would like to declare that the summer internship project report entitled on “A STUDY ON VENDOR AND GOODS INWARD MANAGEMENT IN BIG BAZAAR – EXPRESS AVENUE” in partial fulfillment of Masters degree M.B.A.(Logistics & supply Chain management) for the academic period 2009-2011. This is my original project work done under the guidance of Mr.M.Muthuraman, M.B.A., and M.Phil. VELS University - Chennai.
Signature of student
K.V.ANOOP (Reg. No. 09305105)
Place: Chennai Date:
Company Certificate
INTRODUCTION
Future Group is India’s leading business group that caters to the entire Indian consumption space. Led by Mr. Kishore Biyani, the Future Group operates through six verticals: Retail, Capital, Brands, Space, Media and Logistics: Future Retail (encompassing all lines of retail business), Future Capital (financial products and services), Future Brands (all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media. The group’s flagship company, Pantaloon Retail (India) Limited operates over 5 million square feet through 400 stores in 40 cities.
Some of its leading retail formats include, Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, E-Zone, Depot, Health & Beauty Malls and online retail format, futurebazaar.com. Future Group’s vision is to, “deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner.” The group considers ‘Indian-ness’ as a core value and its corporate credo is - Rewrite rules, Retain values.
Industry Profile
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics service and solutions. Led by its flagship enterprise, Pantaloon Retail, the group operates over 16 million square feet of retail space in 73 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic expansion of a hypermarket. The first set of Big Bazaar stores opened in 2001 in Kolkata, Hyderabad and Bangalore.
The group’s speciality retail formats include supermarket chain – Food Bazaar, sportswear retailer - Planet Sports, electronics retailer - e-zone, home improvement chain - Home Town and rural retail chain, Aadhaar, among others. It also operates popular shopping portal. Future Capital Holdings, the group’s financial arm provides investment advisory to assets worth over $1 Billion that are being invested in consumer brands and companies, real estate, hotels and logistics. It also operates a consumer finance arm with branches in 150 locations. Other group companies include, Future General, the group’s insurance venture in partnership with Italy’s General Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative. The group’s presence in Leisure & Entertainment segment is led through, Mumbai-based listed company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports Bar and Bowling Co. and family entertainment centres, F123. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato. Future Group’s joint venture partners include, US-based stationery products retailer, Staples and Middle East-based Axiom Communications. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indian-ness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values.’
Future Retail
Retail forms the core business activity at Future Group and most of its businesses in the consumption space are built around retail. Future Group’s retail network touches the lives of more than 200 million Indians in 73 cities and 65 rural locations across the country. The group currently operates around 1,000 stores spread over 16 million square feet of retail space. Present in the value and lifestyle segments, the group’s retail formats cater to almost the entire consumption expenditure of a wide cross-section of Indian consumers. Led by Pantaloon Retail, the group’s flagship company, the group manages some of India’s most popular retail chains like Pantaloons - a chain of fashion destinations, Big Bazaar - a uniquely Indian hypermarket chain, Food Bazaar - a supermarket chain that blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central - a chain of seamless destination malls. Some of its other formats include Ethnicity India's first concept store, which recreates the experience of a traditional ethnic market in a modern retail format, Brand Factory, Planet Sports, all, Top 10 and Star and Sitara. The group also operates India’s most popular online shopping portal www.futurebazaar.com. Retailing of products and services related to home building and home improvement is led through the group’s formats, Home Town, a large-format home solutions store, along with specialized formats for home furniture and home furnishing through, Collection and Furniture Bazaar and consumer electronics through e-Zone and Electronics Bazaar. The group also operates India’s leading rural retailing chain, Aadhaar that is present in over 65 locations in rural India. Aadhaar, an agri-service cum rural retail initiative, provides a complete solution provider for the Indian farmer.
Future Brands The Future Group has built a strong portfolio of some of the fastest growing consumer brands in India. This activity is led through Future Brands India Limited, a specialized subsidiary company that was set up to create and build powerful brands that address the aspirations of the new Indian consumer.
Some of the key brands in this portfolio include, John Miller, Lombard, Bare, DJ&C, Buffalo and RIG in the fashion and apparel space. Dream line, present in the home segment, offers a wide range of products in kitchenware, bed & bath linen, and Home Décor categories. In the food and home care segment brands include Tasty Treat, Premium Harvest, Fresh & Pure, Care Mate and Clean Mate. In consumer durables and electronics space, the group’s brands include Koryo and Sensei.
Consumer Finance A business division of Future Capital Holdings (FCH), Future Money aims to set a new standard in the organized retailing for financial services and products by creating a differentiated retail brand that will make retail finance ‘Simple, Easy and Convenient’. These ‘financial supermarkets’ provide a range of innovative financial products and services Future Money proposes to leverage its reach and captive customer base to offer a one-stop solution for financial products and services. Key product and service lines include consumer durable loans, personal loans, home equity loans, credit cards, life and non-life insurance, mutual funds, foreign exchange and money transfer. The group has also launched Future Card, a unique credit card cum loyalty card that offers loyalty benefits to card holders in over 24 Future Group retail chains as well as other retail outlets.
Insurance Future Group’s foray into life and non life insurance services and products is led through Future Generali India Life Insurance Company and Future Generali India Insurance Company, respectively.
Future Group’s partner, Generali Group was established in 1831 in Italy and is now amongst the three largest insurance companies in Europe and is ranked 30th on the Fortune 500 list. It has more than 3, 50,000 shareholders, and 70,000 employees and is present in 40 countries across the globe. The joint venture company - between Pantaloon Retail and Generali Group - Future Generali brings in a new wave of innovation in the insurance space. Apart from retailing insurance products in the exciting environment of shopping malls and consumption centre’s the companies are also setting up a robust pan-India footprint in over 100 cities and towns across the country.
Future Capital Holdings Future Capital Holdings Limited (FCH) is the financial services arm of the Future Group and has three primary lines of business; investment advisory services, retail financial services and research. FCH provides Private Equity and Real Estate investment advisory services to onshore and offshore clients. These investment advisory services include investment analysis, research and recommendations. FCH acts as the investment advisor to the Rs. 350 Crore (approximately US$ 89 Million) Kshitij Venture Capital Fund, an onshore SEBI-registered venture capital fund, whose main focus is developing retail malls in India. It also acts as the investment advisor to three offshore investment managers namely: Indivision Capital Management, the offshore investment manager of the US$ 425 Million offshore private equity fund, Indivision India Partners. Horizon Development Management, the offshore investment manager of the US$ 350 Million offshore real estate fund, Horizon Realty Fund, LLC. FHL Developments Company LLC, the offshore investment manager of the US$ 200 Million offshore hotel fund, Indus Hotel Ventures, LLC.
Future Capital Research, our research business, conducts and publishes economic research on India with the objective of enhancing value creation across our other businesses.
Future Ventures Future Ventures, seeks to promote and participate in innovative and emerging business ventures in India. The company intends to play a role in powering entrepreneurship, by promoting or participating in diverse business activities, primarily in “consumption-led” sectors in the country, which it defines as sectors whose growth and development will be determined primarily by the growing purchasing power of Indian consumers and their changing tastes, lifestyle and spending habits. The company will also participate in businesses where it exercises control or influence, and can add value as active shareholders, by utilizing the experience and knowledge of the Future Group, and specifically its parent, Pantaloon Retail.
Future Human Development Ltd. (FHDL) Future Human Development Ltd. (FHDL), a Future Group company, was incorporated in 2008 with the unique charter to undertake all the Talent acquisition, Talent management, Talent retention and Career Progression training. The learning & development at FHDL is unique, in the manner that it is rooted in Indian ideology, and aims at providing a relevant and contextual learning experience. Fuelled by its deep belief in the infinite potential of a person, the company has already introduced more than 25,000 Future Group employees to its basic tenets, and is geared towards helping more than 40,000 people realize their potential by the year 2010. Since its inception, FHDL has also branched off into domain specific (retail & allied services) training, certification, advisory and consultancy. FHDL also recognizes that they can contribute in the development and grooming of current and future talent across various businesses in areas such as:
Product and service training Soft skills training SOP creation and train the trainer Training efficiency audits and reports Extending use of FHDL training facility Customized training and content generation Other people development related services
Through these associations, FHDL will not only be involved with the design, development and delivery of the programs, but also offer a value proposition that takes into account the business’s needs both in terms of costs and benefits. With FHDL, Future Group has created a centre of higher learning, which provides the learner an opportunity to build self and thereby a career through completely Indian references and methodology, at their three Learning Centers based in Ahmedabad, Bangalore and Kolkata. FHDL employs a large number of Learning Specialists across locations.
Future Media Future Media India Limited, aims to create media properties in the ambience of consumption, and aid consumer-brand engagement, converting footfalls into eyeballs, creating trends and thereby, the desire to change. The company was incorporated on March 8, 2006 and its operations commenced from January 1, 2007. The company offers relevant engagement through its media properties like Future Visual Spaces, Future Activation, Future Print, Future Radio, Future TV, Future Fuel and Future Theatre. Visual spaces in the shopping environment include shopping trolleys, carry-bags, elevator doors, standees, danglers, trial rooms, counters, in-store signage, product displays and facades.
Amongst print properties, Future Media offers My World, a monthly magazine for Future Group customers. Future Media has also launched Future TV, the first retailer-owned channel in India that aims to provide a completely unique audio-visual experience within an in-store environment. Future FUEL is the TV network at BPCL petrol stations, while Future Theatre has acquired onscreen media rights for all Inox properties.
Future Supply Chain Solutions Limited Logistics forms a critical business activity across Future Group’s businesses. Future Supply Chain Solutions Limited (FSCS), a specialized subsidiary, offers strategic, focused and consolidated approach to meet the group’s large supply chain requirements as well as those of select supply and business partners. The Future Supply Chain Solutions team currently oversees the operations of an existing fleet of over 600 dedicated trucks, contracted from established regional and national transport carriers, most of which are now equipped with GPS sets. In addition it provides integrated end-to-end SCM, warehousing and distribution, multi-modal transportation and container freight station. The total consolidated warehouse space that the company intends to have operational by 2010-11 is nearly 7.50 million square feet.
Leisure and Entertainment The company’s presence in the fast growing leisure and entertainment space is established through its affiliate company, Galaxy Entertainment Corporation Ltd and its partnership with Mumbai-based Blue Foods. Galaxy Entertainment Corporation Ltd
GECL operates Leisure Brands including The Bowling Company, The Sports Bar and The Brew Bar. F123 is the company’s kids gaming and entertainment zone while it operates Sportsbar Express under its The Sports Bar concept.
Future Consumer Products Limited FCPL is a subsidiary company of Pantaloon Retail India Limited, incorporated in September 2007. The company has two brands under its umbrella - SACH & S Drive, inspired by Sachin Tendulkar. These brands operate in categories such as foods, apparels, personal care and general merchandize among others, and are available through Future Group formats.
Shopping Malls Future Group currently operates six shopping malls: Orchid City Centre and Milan Mall in Mumbai; Cosmos and Lido Malls in Bengaluru; Ahmedabad City Centre in Ahmedabad and Cosmos Mall in Siliguri.
In addition the group is engaged in setting up of over two dozen shopping malls and consumption centre’s, all of which will be operational by 2011.
Leadership The Future Group employs over 30,000 people and was counted among 15 best employers in India in a survey conducted by Hewitt Associates in 2007 in association with The Economic Times.
The Group has developed a strong senior management team with cross-functional expertise in multiple businesses and is led by its Founder and Group CEO, Kishore Biyani. Kishore Biyani founded Pantaloons in 1997, followed by a number of popular retail formats including Big Bazaar, Central, Food Bazaar, Brand Factory and Home Town that now cater to almost the entire consumption basket of a wide cross-section of Indian consumers. In the recent years, Kishore Biyani has led the group’s transformation into one of India’s leading business houses with presence in capital, consumer finance, insurance, brand development, retail real estate development and logistics. A staunch believer in the group’s corporate credo, ‘Rewrite Rules, Retain Values,’ Kishore Biyani considers Indianness as the core value driving the group. He was recently awarded the Ernst & Young Entrepreneur of the Year 2006 in the Services Sector and the Lakshmipat Singhania - IIM Lucknow Young Business Leader Award by Prime Minister, Dr. Manmohan Singh in 2006. He was also awarded the CNBC First Generation Entrepreneur of the Year 2006. Kishore Biyani was born in August 1961 and is married to Sangita and they have two daughters. He recently authored a book, ‘It Happened in India’ that captures his entrepreneurial journey and the growth of modern retailing in India.
Values
Indianness: confidence in ourselves.
Leadership: to be a leader, both in thought and business.
Respect & Humility: to respect every individual and be humble in our conduct.
Introspection: leading to purposeful thinking.
Openness: to be open and receptive to new ideas, knowledge and information.
Valuing and Nurturing Relationships: to build long term relationships.
Simplicity & Positivity: Simplicity and positivity in our thought, business and action.
Adaptability: to be flexible and adaptable, to meet challenges.
Flow: to respect and understand the universal laws of nature.
Vision Future Group shall deliver Everything, Everywhere, Every time for every Indian Consumer in the most profitable manner.
Mission We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments – for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.
MANAGEMENT FUNCTION It was described by Henry Fayol in the year 1800 when he was the CEO of a large mining company. Fayol has noted managers at all levels operating in a profit or nonprofit organization, must perform each of the functions of:
Planning The organization’s long term goal is to capture a major pie in the market share and earn good profits. For this purpose the organization has:
A Procurement plan where it procures its finished goods (apparels) from various
brand manufacturers.
An outlet site selection plan (to open at convenient and profitable location)
A marketing plan (Collect apparels, footwear etc from companies and allocate store
space etc., Advertising.)
A finance plan on revenues and expenditure and how many stores to open, how
many brands to keep reducing inventory levels.
Directing
New products/ designs to be introduced (Quantity-wise and variety-wise).
Identification of proper stores location
Continuous supply of inventories from suppliers (Preparation of procurement
schedule)
Inventory planning, monitoring, and tracking of work in process.
Coordinating and Controlling
Inventory control to keep the cost at optimum level. Managing work in progress.
Orders placed to the suppliers for inventories.
Volumes of the orders from the customers that the company can handle.
Organized reports at all levels.
Sone Ki Chidiya When the Mughals first came to India they were drawn by the lure of her fabulous wealth India was known as the "Sone Ki Chidiya," literally - "The Golden Bird". According to economic historian Angus Maddison in his book The World Economy: A Millennial Perspective, India had the world's largest economy in the 1st century and 11th century, with a 33% share of world GDP in the 1st century and 29% in 1000 CE. During 1700 AD, Mughal era, India’s share was 24%, more than the whole of Western Europe. It came down to 3.8% in 1950s. Paul Kennedy, in his highly regarded book, The Rise and fall of the Great Powers: Economic Change and Military Conflict from 1500 to 2000 estimates that in 1750 India's share of the world trade was nearly 25 percent. It came down to 0.5% in the 1960s and now stands at around 1.5%. The Indian economy is once again at the centre of the global attention. As domestic consumption drives economic growth in India, Future Group hopes to play a pivotal role in bringing back the Sone Ki Chidiya.
Awards
CNBC Awaaz Consumer Awards 2009
Most Preferred Multi Product Chain - Big Bazaar
Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar
Images Fashion Forum 2009
Most Admired Fashion Group Of The Year - Future Group
Most Admired Private Label - Pantaloons, the lifestyle format
Critic’s Choice For Pioneering Effort In Retail Concept Creation - Central
Coca-Cola Golden Spoon Awards 2009
Most Admired Food & Grocery Retailer Of The Year
Most Admired Food Court
Most Admired Food Professional Indian Retail Forum Awards 2008. Most Admired
Retail Company of the year - Future Group
Retail Face of the Year - Kishore Biyani
Best Retailer of the Year (Hypermarket) - Big Bazaar
Future Group was awarded the Most Admired Retail Company of the year by the Indian Retail Forum at a glittering ceremony organized in Mumbai. Mr. Kishore Biyani also won Retail Face of the Year. India Retail Forum (IRF) is a platform for intellectual insights and information exchange for the retail business in the Indian subcontinent. The forum presents the business of retail in the region to a global audience, with the express aim of facilitating understanding about and encouraging investment in this massive marketplace. Big Bazaar, the value format of Future Group bagged the Best Retailer of the Year (Hypermarket).
The INDIASTAR Award 2008
Food Bazaar: Best Packaging Innovation
Food Bazaar bagged the INDIASTAR Award for Best Packaging Innovation in India, for its private label brand Fresh and Pure Chakki Atta. INDIASTAR Award is a biennial event which aims to promote and encourage excellence in packaging design, innovation and technology. The contest was established in 1972 and is considered as the most popular and premier event for India’s packaging fraternity. This year there were around 357 entries and the participants had to submit a sample of their designs for selection. With this award, Pantaloon Retail (India) Limited becomes the first Indian Retailer to win the prestigious INDIASTAR Award.
Retail Asia Pacific 500 Top Awards 2008
Gold Winner - Top Retailer 2008 Asia Pacific
Retail Asia Publishing Pte, the institutor of these awards, aims to set a platform that
appraise raises and recognizes the development and growth of retailing throughout the Asia Pacific region.
Food, Beverages & Grocery: Future Group.
Most Admired Food & Grocery Retailer of the Year - Consumer's Choice: Big
Bazaar. The Coca-Cola Golden Spoon Awards 2008, were given away for the first time as a culmination of the ‘Food Forum India 2008’ - a two day convention which saw the participation of leading brands, retailers & retail support organizations from across the globe. The awards were presented to honor enterprise, innovation and achievement in the food retailing business as a benchmark of excellence.
Coca-Cola Golden Spoon Awards 2008
Most Admired Food & Grocery Retail Visionary of the Year: Kishore Biyani.
Most Admired Food & Grocery Retailer of the Year – Supermarkets: Food Bazaar.
Most Admired Food & Grocery Retailer of the Year - Hypermarkets: Big Bazaar.
Most Admired Retailer of the Year - Dynamic Growth in Network Expansion across.
Their Companies Pantaloon Retail (India) Limited Home Solutions Retail India Limited Future Brands Limited Future Media (India) Limited Future Supply Chain Solutions Limited Convergem Communication (India) Limited Pantaloon Food Product (India) Limited Future knowledge Services Limited Future Capital Holdings Limited Future Generali India Insurance Company Limited Future Generali India Life Insurance Company Limited
Future Bazaar India Limited Weavette Texatyles limited Winner Sports Private Limited Staples Future Office Products Private Limited Talwalkars Pantaloon Fitness Private Limited CovergeM Indus League Clothing Galaxy Entertainment Corporation Limited Future Consumer Products Limited Future Ventures India Limited Foot Mart Retail
Pantaloon Retail (India) Limited
Pantaloon Retail (India) Limited (PRIL), is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer marker. Headquartered in Mumbai, the company operates 16 million square feet of retail space, has over 1,000 outlets (including shop-in-shops) across 73 cities in India and employs over 30,000 people.
The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, and Central, a chain of seamless destination malls. Some of its other formats include Depot, Brand Factory, Blue Sky, Star and Sitara. Pantaloon Retail is part of the Future Group which has presence in multiple businesses in the consumption space including consumer finance, capital, insurance, retail media, mall development, logistics and brand development.
Home Solutions Retail (India) Limited
Future Group’s business offers complete retailing solutions for all products and services related to home building and home improvement. The key product categories are CDE (Consumer Durable & Electronics), Furniture, Home Furnishing & Decor, Home Improvement and Home Services. HSRIL operates retail format Collection I, Furniture Bazaar, Electronics Bazaar, Home Town and e-zone.
Future Brands Limited Future Brands Limited (FBL) has been incorporated on November, 2006 and is involved in the business of creating, developing, managing, acquiring and dealing in consumer-related brands and IPRs (Intellectual Property Rights).
Future Media (India) Limited Future Media (India) Limited (FMIL) was incorporated as the Group’s media venture, aimed at creation of media properties in the ambience of consumption and thus offers active engagement to brands and consumers. FMIL offers relevant engagement through its media properties like Visual Spaces, Print, Radio, Television and Activation.
Future Supply Chain Solutions Limited Future Supply Chain Solutions Limited (FSCS) has been incorporated as a separate entity and is involved in the business of providing logistics, transportation and warehousing services for all group companies and third-parties.
Convergem Communication (India) Limited Convergem Communication (India) Limited (CCIL) (formerly known as Convergem Retail (India) Limited) was incorporated to set up a chain of retail outlets for dealing in areas of communication, data & voice storage and other related products. The company operates mBazaar, mPort and GenM, among other retail formats.
Pantaloon Food Product (India) Limited Pantaloon Food Product (India) Limited (PFPIL) was incorporated with the object of sourcing and backward integration of food business of the company. PFPIL has sourcing and distribution bases at all key cities across the country.
Future Knowledge Services Limited Future Knowledge Services Limited (FKSL) was incorporated on January, 2007 and is engaged in the business of business process outsourcing and knowledge process outsourcing.
Future Capital Holdings Limited Future Capital Holdings Limited (FCH) was formed to manage the financial services business of Pantaloon Retail (India) Limited and other group entities. FCH is one of the fastest growing financial services company in India, with presence in Asset Advisory, Retail Financial Services and Proprietary Research. The company operates a consumer finance retail format, Future
Money and manages assets worth over US$ 1 Billion through its various funds including Indivision, Kshitij, Horizon and Future Hospitality. FCH subsidiary companies include Kshitij Investment Advisory Company Ltd., Ambit Investment Advisory Company Ltd., and Indivision Investment Advisors Ltd.
Future Generali India Insurance Company Limited Future Generali India Insurance Company Limited (FGIICL) was incorporated on October 30, 2006 to undertake and carry on the business of general insurance. The approval for carrying on General Insurance Business has been received from the Insurance Regulatory and Development Authority of India (IRDA) on September 4, 2007.
Future Generali India Life Insurance Company Limited Future Generali India Life Insurance Company Limited (FGILICL) was incorporated on October 30, 2006 to establish and conduct the business of life insurance in India, which comprises of whole life insurance, endowment insurance, double benefit and multiple benefits insurance etc. The approval for carrying on Life Insurance Business has been received from the IRDA in September, 2007.
Future bazaar India Limited Future bazaar India Limited (FBIL) is set up as the e-Retailing arm of the Future Group for providing on-line shopping experience. Futurebazaar.com was launched on January 2, 2007, and has emerged as one of the most popular online shopping portals in India. It was awarded with the
“Best Indian Website” award, in the shopping category, by the PC World Indian Website Awards.
Weavette Texstyles Limited Weavette Texstyles Limited was incorporated on December 8, 1994 and is involved in the business of designing, manufacturing, buying and selling, importing, exporting, spinning etc of various types of textile fabrics.
Winner Sports Private Limited Winner Sports Pvt. Limited caters to the Sports and Lifestyle consumer space. Winner Sports is the exclusive India Licensee for retailing and marketing leading international brands including Converse, Speedo, Wilson, Prince, Spalding and Callaway. It has over 57 stores across 23 locations. The company operates: Multi-brand sports specialty stores - Planet Sports Value-based sports lifestyle format - Sports Warehouse Mono brand stores - Adidas, Converse, Puma The company's flagship format, Planet Sports, is a leading name in multi-brand sports and lifestyle specialty retail space. It has one of the largest collection of international sports and lifestyle brands and has an extensive offering for sportswear and equipment across all categories including running, training, fitness, swimming, tennis, golf, basketball, soccer as well as other lifestyle products across categories like footwear, apparel, accessories and sports equipments. The company aims to be among the most admired.
Talwalkars Pantaloon Fitness Private Limited Talwalkars Pantaloon Fitness Private Limited (TPFPL) was incorporated on December 19, 2006 and is involved in the business of setting up gymnasiums and dealing in fitness equipments and other health products. TPFPL is a 50:50 joint venture between the Company and Talwalkars Better Value Fitness Private Limited.
ConvergeM The company has entered into a 50:50 joint venture with Axiom Telecom LLC, UAE on July 20, 2007 to do sourcing and wholesale distribution of mobile handsets, accessories and setting up service centre’s and authorized after sales service centre’s for mobile handsets in India.
Indus League Clothing A subsidiary company, Indus League Clothing owns and manages the brands Indigo Nation, Scullers, Urban Yoga, Urbana and their retail formats.
Galaxy Entertainment Corporation Ltd Sports player in a multi-sports, multi-product format and to augment India’s sports culture. Winner Sports strives to provide integrated, reliable and cost efficient sports offerings to Indian consumers.
Staples Future Office Products Private Limited Staples Future Office Products Private Limited (SFOPPL) was incorporated on January, 2007 and is involved in the business of dealing in all kinds of office supplies, office equipments and products. SFOPPL is a joint venture between the Company and Staples Asia Investment Limited
(a subsidiary of Staples Inc USA). The company’s first retail outlet opened in Bangalore in December, 2007. It is a group company that operates leisure and entertainment chains, The Bowling Company, The Brew Bar, The Sports Bar, Sports bar Express and Chamosa.
Future Consumer Products Limited FCPL is a subsidiary company of Pantaloon Retail India Limited, incorporated in September 2007. The company has two brands under its umbrella - SACH & S Drive, inspired by Sachin Tendulkar. These brands operate in categories such as foods, apparels, personal care and general merchandize among others, and are available through Future Group formats. SACH launched with an apparels range for boys between the ages of 9-16 across Big Bazaars in June 2008.
Future Ventures India Limited Future Ventures seeks to promote and participate in innovative and emerging business ventures in India. The group intends to play a role in powering entrepreneurship, by promoting or participating in diverse business activities, primarily in consumption-led sectors in the country, which will be determined primarily by the growing purchasing power of Indian consumers and their changing tastes, lifestyle and spending habits.
Foot Mart Retail India Ltd Foot Mart Retail is a joint venture between Liberty Shoes and the group and operates the Shoe Factory format.
Product Profile – Big Bazaar Sections Cosmetics
Brands Olay, Ponds, Himalaya, Garnier, L’Oreal, etc.
Perfumes & Deodorants Leather Bags & Belts
Sun Glasses
Home Solutions
Foot Wears
Men’s Apparel
Women’s Apparel
Reebok, Gatzby, Axe, Zatak, Rexona, etc. Liberty, Dolice & Gabbana, Lewis, Armani, Roshan, Alpha, VIP, etc. Ray Ban, Reebok, Fast track, Eye gear, Army, Armani, etc. Sleep well, Kurl on, Rubco, Turkey Towels & Bed sheets, etc. Reebok, Liberty, Spalding, Nike, Puma, Addidas, Bata, Woodland, etc. Lee jeans, Levis, Reebok, Pantaloons, Gwalior, Live-in, Cargoes, Trigger, Basics, Derby, etc. West side, Live-in, Salwars, Sarees, Kurthas, etc.
Kid’s Apparels
Reebok, West side, etc.
Toys & Games
Funskool, Lego, Hot wheels, etc.
Laptops
Refrigerators
Acer, HP, Dell, Lenovo, Sony, HCL, G7, Apple, IBM, etc. Samsung, Godrej, LG, Kelvinator, Whirlpool, Onida, etc.,
Micro Waves
Samsung, Kenstar, Onida, LG, etc.,
Television Sets
Sony, Samsung, LG, Onida, Sensei, etc.
Travel Bags & Suit Cases
Philip, VIP, Samsonite, etc.
Stationeries
All range available from kids to office people.
Kitchen Utensils
Available at all ranges and prices.
Groceries
Available at all ranges and prices.
Provisions
All branded provisional items are available.
Refreshments & Juices
Coca Cola, Pepsi, Real, Kissan, Tang, etc.
Chocolates
Cadburys, Nestle, Mars, Snickers, Parry’s, etc. Brown breads, Pizza base, Muffins, Fruit
Bakeries
breads, Ginger breads, Flavored breads, Cakes, etc.
Live Kitchen Sweets & Savories (Live kitchen) Flour mill (Free Grinding)
Ready to cook food
Fruits
Briyani (Veg/Non-veg), Fried rice’s, Pulav, etc. North Indian & South Indian varieties Free flour grinding also done for the customers who require immediately, flours. Ready to cook packet foods are also available separately. All varieties from all over the states and countries imported are available at cheap rates.
Vendor and Goods Inward Management The goods ordered to the vendors are by using the technology called SAP (System Application Process), were the managers or department managers do not have to send orders manually to the vendors or suppliers. When the customer picks up the products from the shelf and bills, automatically the computer will show the balance numbers available in the shelf and the numbers available in the store room. If the stock is up to the dead line, the order for replenishment will be made by the head office people by seeing through the SAP process, which is called as FKS (Future Knowledge Service). The FKS people will make the orders by seeing the details they get from the stores. The department managers do not have to bother about the ordering process.
When the orders are made the logistics section gets a note of it through mail or e-mail. They will get a copy of the items ordered which will contain the EAN (European Article Number), which is a number given to the specific product which will not change at any situation unless the manufacturer changes it. The number is like a trade mark of the product. This number will be known to all the distributors and retailers all over the world so that it becomes an easy way of identifying it. In case the number has been changed without prior notice to the retailer by the manufacturer then the logistician will check with the number given to single article which is called as AN (Article Number) which is also available in the bill. By feeding the article number to the computer system it will show the new EAN and old EAN so that the logistician can easily accept the product. If the items are in a box then it will be denoted as HU (Handling Unit) is a number on the box which will contain certain items inside which will be clearly denoted in the bill supplier gives. The supplier must carry outbound gate pass which is the note given by the vendor’s or warehouse’s security and inbound gate pass that is given by the mall security, where the shop is located. Before opening the truck the logistician has to make sure that the padlock is sealed with a number on it which should match in the bill he has in his hand. In case on the way if the padlock seal has been broken for police check up in the check post, the bill must contain a seal form the check post officials. If the bill does not have any proper notes the logistician will not touch the lock and will send the truck away. A complaint is made to the vendor immediately. After confirming these things are correct, the logistician opens the padlock in front of the department manager to whom the items are to be given. At the same time the items will be checked and sent in directly inside the store and placed in the shelf. The products are then checked one by one with the list the supplier had brought and with the bill which the logistician has. First they check the EAN, then HU, then AN, then MRP, then number of Boxes i.e. HU and then total number of Articles or Items. If the logistician finds any mismatch in the products ordered or with article number, those items will be sent back by issuing a Discrepancy Note, is just like a bill, which will be signed by the
deliverer, logistician and with the company seal. The discrepancy note will have a number, fed to the computer by the logistician with product name, number and quantity by using the SAP and sent to the FKS. The FKS will manage with the vendor and payment will be made for what they have received.
Findings I have studied each scope of improvement and tried our best to make a proposition, which have drawn my attention. 1. While the customers pick up products on the shop floor at various departments, I noticed that stocks were disappearing very quickly but replenishments were not done at timely manner and because of this a lot of customers were going back without making any purchase. To fix this situation that respective Category managers as well as Department managers need to be careful about the backup stock. Forecasting is to done in well advance. 2. During Big sale days I have noticed that hundreds of customers were waiting on queues .The line never stop to buy a product, pay the bill. These queues deter many customers to make a purchase, even worse enter into the store. After selecting products, many customers were leaving their baskets within the store.
Solutions So to improve the overall sales volume and profitability of the store, management has to take necessary steps .To reduce the customer wait time we can implement ‘Queue Buster’ A handheld device, it’s a mobile handheld it sported a barcode reader, printer, computer, swipe card reader. In these way customers check out process will be faster in two ways: a) Customers can get their bill’s printout paid off bill amounts either in cash or credits to store personals that are using the handheld devices.
b) If anything goes wrong, if the payment is not accepted by the handheld machine, then also customers reached the POS counter with mobile POS receipts could make the check out process faster by checking out the receipts they have got from the mobile printers and keep their cash ready when they arrived at cashiers. Big Bazaar can think over another interesting technology to deploy to make better shopping experience for its customers especially on the extreme occasions. I-Scan (Symbol Technologies-New York) it’s a generation in precision replenishment. That allows the customer to scan the merchandise as they pick the products off-the-shelf, thus saving them significant amount of shopping time. Once the shopping is completed, they can handover the device to the customer service desk and can cash-out quickly. Initial investment for implementation of these technologies might be high but they definitely improve the overall store profitability, which will offset the initial investments.
CONCLUSION:
These 30 days project training was really informative in the area of HR management, Logistics management and in customer support desk. They gave exposure on how the goods are ordered; ordered goods are received in from the vendor, checked in and sent inside the stores. Also learnt how to handle the customers, vendors and the people from agencies and learnt few things about SAP (System Application Process). I also learnt how to handle customers in all circumstances whether they are angry or vexed. For instance: Once a customer got angry due to the delay of issuing the free gifts at the customer support desk were I was the person handling the customer at
that time, I made the customer relax and issued the gifts which he requires. Later also he started scolding but I apologized and convinced him for the delay with a smile, at last he shook hand went casually. It was a critical situation but I understood how each and every customer is important and retaining them is very essential. It also gave an opportunity to interact with future group’s CEO Mr.Kishore Biyani of the future group and also other higher officials.
