Tech Startups Innovations Will Enable Growth For Manufacturers In 2021
Rahul Garg, CEO & Founder, elaborates how innovations by tech startups will enable growth for manufacturers in 2021. He takes a walk down last year’s memory lane, connecting it to our action-plan for 2021 and beyond. From accepting the need
Tech startups will have opportunities to add value to creating a National Supply Chain Network that will bring all stakeholders on the same platform through digital connectivity. Digital connectivity will be critical to building agility, speed, and scale capabilities as Indian manufacturing enterprises look to get a more significant share of the global value chain in manufacturing.
Rahul also says that we need to segregate the supply chain ecosystem into a sum of parts that can be stitched together on-demand through combinatorial innovation to pivot with agility towards goods essential to creating jobs and protecting livelihoods. Solutions driven by scalable technologies like cloud computing, artificial intelligence, and machine learning can make this happen.
The aim is to have a vision today of becoming self-reliant and then to live this vision tomorrow. The key lies with Indian tech startups, they need to reverse the direction of innovation; focus on providing solutions to our local challenges first and then scaling up successful products across markets in the rest of the world.
Tech Startups Enabling the New Normal will Experience Viable Growth
Rahul Garg, CEO & Founder talks about how tech startups enabling the new normal will experience sustainable growth. Tech-integrated supply chains are on the rise more than ever due to the major set-back in 2020. T
Tech startups that have lived up to the promise of ensuring business continuity, workforce collaboration, and effective remote working for their enterprise customers have thrived.
He throws light on the growth that these startups have achieved supernormal growth during the pandemic. He also talks about how the pandemic has seen a surge in demand for technology-enabled solutions that allow enterprises to reduce their exposure to financial and health risks.
During the pandemic, enterprises have pivoted towards outcome-based digital transformation initiatives and have put outlay-based projects on the backburner.
Technologies that have experienced a dip in demand are data center systems, enterprise software, devices, ITeS, and communication services.
Tech startups offering business transformation solutions, business process re-engineering, and modernization of legacy applications and systems have been at the receiving end of reduced expenditure by enterprise customers.
Moglix Listed as One of the Top 10 Indian Startups of 2020
Moglix has been listed as one of the top 10 Indian Startups of 2020. As the year gave a hit to many startups, a few used this opportunity to create new possibilities.
The Ratan Tata-backed e-commerce B2B platform Moglix is also claimed as one of India’s next unicorns.
Moglix specializes in the procurement and supply chain across industries, such as Automotive, FMCG, Pharmaceuticals, Cement, and more. Moglix is backed by IFC, Accel Partners, Jungle Ventures, Venture Highway, SeedPlus, and Rocketship. It has been recognized for innovations by CIPS Asia Awards, Samurai Awards, Globee Awards, among others.
MSMEs in 2021: Six key trends in B2B e-commerce
Rahul Garg, our CEO & Founder shares insights on MSMEs in 2021. He discusses the six key trends emerging in B2B e-commerce that will jumpstart small business recovery. The B2B platforms will enable MSMEs to expand smoothly, penetrate deep into remote locations across the country, get a hold of their cash flow and finances, and add value to the global value chain.
‘MSMEs that enroll in B2B e-commerce ecosystems will have the scope to earn up to 51 per cent higher revenues annually than their offline counterparts.’
Rahul also explains the challenges that the sector has faced during 2020 and how these could be prevented in the future. Digitization, agility, and resilience are the keywords for 2021.
B2B e-commerce platforms will provide a cost-efficient and seamless digital interface between MSMEs and enterprise customers in manufacturing and connect the former to more opportunities to sell higher and better, thanks to the 5G digital infrastructure.
Delayed payments have been a source of concern for MSMEs through the pandemic. While the government’s plan to secure MSMEs’ payments within 45 days is laudable, they will require short-term supply chain credit sources. Banks have to follow due diligence to optimize the risks of NPAs in their balance sheets and therefore have to anchor MSME debt offerings to collaterals.
On the other hand, B2B e-commerce platforms can use analytics and big data and create alternative risk, assessment models. They can use digital capabilities to analyze MSMEs’ cash flow, turnover, customer portfolio, supplier ratings by leading OEM customers, and records of bad-debts, if any, and provide agile supply chain credit to them.
HR Priorities for 2021: Director- Human Capital
Saumya Khare, Director of Human Capital talks about the HR priorities for 2021. She throws light on the learnings from 2020, the growing need for adaptation
In 2021, HR leaders will have to explore new ways to optimize talent retention costs and facilitate better work-life balance.
Saumya elaborates on the growing need for digitization and analytics in the existing models, to not only revamp the current processes but to also innovate methods to grow the organization as a whole. what the future workplaces would look like and the best practices they should start following in order to build workplace 4.0.
HR leaders will have to ensure that functional teams build the strength to sustain sudden changes to team structures, health risks, and logistical disruptions. They will have to provide greater multi-tasking, learning by doing, and familiarize the staff with the new roles as contingency measures.
My First Job: Amandeep Bhan, Sr.VP- Strategic Partnerships
Amandeep Bhan, Senior Vice President- Strategic Partnerships talks about his career path. He shares his experience right from his family business to being with TCS, SAP, and now, Moglix. In this candid conversation with TimesJobs, Amandeep also shares the skills he acquired, his learnings from the people he worked with, the turning point in his career, and the most crucial step he took.
I have continued to learn over the years, and my first learning is to stay curious and humble.
Employee Engagement & Wellbeing: The First Priority
Saumya Khare, Director-Human Capital talks about employee engagement & wellbeing. She emphasizes the importance of taking care of employees’ mental health, whenever and however you can. There is a bunch of new initiatives taking place across organizations, the first priority is keeping up with employee engagement & well-being. She shares the best practices that HR can take, the top being
Whether working from home, remote locations, or the workplace, digitization has now become integral to the way we communicate. While businesses differ in terms of their digital maturity, all businesses are now realizing the value of online workflow platforms.
Saumya throws light on the benefits of making digital HR processes to not only stay connected but to also build the organization stronger, which in itself is a cultural change. Every organization which truly aims to be the business of tomorrow and build a resilient future needs to re-imagining its way of working and try to then ease it out for everyone by being more inclusive and proactive.
Self-Reliance: An Agenda for Indian Manufacturing in 2021 and Beyond
Self-reliance is the agenda for Indian Manufacturing in 2021 and beyond. Partha Dash, Senior Vice President, Moglix Business shares his insights on how the current year has promoted the of being self-reliant, agile, and resilient.
India’s quantum leap to the 63rd position in the Ease of Doing Business rankings bears testimony to how far we have come. Now is the time to take the next steps. We need to bring agility and visibility to the procedures covering the starting of a new business to the compliance with regulatory requirements such as land acquisition, getting clearances for capacity expansion and obtaining permits and licenses.
Partha also discusses the dire need
We need to strategically redesign our supply chain to allow Indian manufacturers to plug into domestic and global trade opportunities but insulate them from further disruptions.
Moglix Founder on Whether You Should Go Solo or Get Co-Founders
Rahul Garg, CEO & Founder, Moglix Business speaks on the classic entrepreneur conundrum – Go Solo or get Co-founders? He shares his journey and experience as a solo founder of Moglix.
It is best to not rush into this decision and opt for a co-founder just because others think so.
Rahul also talks about scaling up the founding team.
You need to have a proper HR perspective when hiring, even in the early days. My hiring bar was very high even early on. I think the people I hired then, still are among the smartest people in the country. No wonder then that of the six founding team members, five remain at Moglix even after five years since the company’s founding.
Interview: Moglix CEO on Future Plans and Acquisitions
Rahul Garg, CEO & Founder, Moglix business talks about future plans and Moglix marking its presence across 35 locations in India with its recent expansion to Goa & Guwahati. Rahul shares his insights on the manufacturing sector, the impact of the ongoing crises on it, and how its supply chains are under a major transformation.
Moglix has captured 80% of the manufacturing hubs and is now aiming to go for smaller businesses in order to strengthen the network and spread its roots in smaller cities too.