A few days back , Commerce Ministry announced FDI norms
/ guidelines in relation to E Commerce
This was done, even as DRAFT of the new E Commerce Policy is yet to be released ( - a “ work
in process “ for past 2 years )
Briefly , it
reads :
·
E-Marketplace players cannot
sell products of companies in which they hold a stake. Such an ownership or
control over the inventory will render the business ( market-based
model ), into an “ Inventory-based “
model
·
Inventory
of a vendor will deemed to be controlled by an e-commerce marketplace entity if more than 25 % of purchases
of such a vendor are from the “ marketplace entity
“ or its group companies
·
E-commerce marketplaces
to furnish certificate and report of statutory auditor annually to RBI
confirming compliance
·
E-commerce marketplaces
are allowed to support services to sellers, such as
# WAREHOUSING
# LOGISTICS
# ORDER FULFILLMENT
# CALL CENTRE
# PAYMENT
COLLECTION
·
E-Commerce companies with foreign funds
have to compulsorily operate as a “ marketplace
“, as FDI is allowed only in such models, and not in “ inventory-based
“ ones
[ Under an “ Inventory-based
“ model, companies can sell their “ own “ items , whereas in a “ marketplace “ model, they can only serve as the
link between buyers and vendors ]
·
E-commerce “ marketplace
“ entity should not mandate any vendor to sell any product exclusively on its
platform
=========================================================
QUESTION :
·
What is the E-Commerce “ model “ of Reliance Retail [
RR
]-
Is it a “ Marketplace “ model or an “ Inventory-based “ model ?
Ask Mukesh
Ambani and very disarmingly , he will say :
“ Oh , ours is a “ Hybrid Model “ and therefore it is outside the purview of the guidelines / norms just announced
It makes us “ F-Commerce “
– short for FUTURE of
COMMERCE “
F-Commerce for the following
reasons :
[As envisaged in :
SALES :
All of your merchandize will be available for selection /
ordering on our ONLINE web portal
This online presence of your merchandize will expand / extend
your " reach " to thousands of consumers in your neighbourhood
You will need to only focus on OFFLINE ( across-the-counter )
sales to consumers who walk into your store
For OFFLINE sales , we will install in your stores , all the
necessary Computers / POS terminals / Routers / Internet Connections / Mobile
Wallet Payment systems and an end-to-end , RETAIL MANAGEMENT software
All of your OFFLINE sales data will get transferred to our
Central Server
SUPPLY :
We will deliver to your store , all merchandize on "
Consignment " basis
This means , you do NOT need to pay us for what we deliver to
you store !
Till sold , all goods in your store will be our " stock
"
This way , you do NOT need any " Working Capital " as
far as your stocks are concerned
We will also tie-up with the manufacturers
You don't need to have any interaction / dealing with the
manufacturers
INVENTORY :
On a continuous basis , our web server will keep a track of each
and every item of merchandize sold from your stores
Our Server will calculate , your " Stock Movement
"
Based on this data , our Server will compute / set for each item
:
# Minimum Stock Level
# Alarm Stock Level
# Stock Re-Order Level
# Re-Order Quantity ( Minimum Batch Size )
Based on this logic , our Server will instruct the relevant
" Merchandize Manufacturers " ( or their dealers / stockists ) , to
deliver the stipulated " Re-Order Quantities " to your stores
A " Re-Order Instruction intimation " , will get
delivered to your computer
Upon arrival , you will need to update the data
From time to time , our Software will also figure out your
current stocks of " Extremely Slow Moving " and " Obsolete /
Expired " items , and arrange for " Return Delivery " , which
you will need to enter in your database
DELIVERY :
Not only we will deliver the merchandize to your store , but we
will also pick up " Ordered Items " ( for ONLINE orders only ) , from
your store and deliver the same to your customers !
Initially we will employ manual " Delivery Persons "
for this but , before long , we will deploy a fleet of autonomous DRONES for
this purpose
This fleet will cover " Kirana Stores " and "
Online Customers " , located in pre-designated areas , covering 4 sq km (
2 km x 2 km )
We are in talk with www.What3Words.com , to enable precise
delivery through your 10th floor window !
These drones will get their " Delivery Instructions "
directly from our Web Server , for all ONLINE orders
When these drones arrive at your Store to pick up the items ( to
be delivered ) , they will transfer ( Blue Tooth / NFC ) and display on your
Computer screen , following data :
# Online Order Number / time / date
# Items covered with description / value of each
# Customer Name / Address
# Mode of Online Payment / Bank Details
# Your online account CREDIT details , giving,
( Sales Value ) - ( Purchase Price
)
" Purchase Price " of goods in your
stock will be
based on FIFO method
FINANCE :
As explained earlier , you will have a bare minimum need for
" Working Capital " , since all of your stock will be on "
Consignment " basis
We will collect the " ONLINE PAYMENTS " directly from the customers and " Credit " the same to your " online sales account " with us
Against same account , we will " Debit " the " purchase price " ( price at which you purchase the merchandize from Reliance ) of the goods sold
Our server will also take care of all GST payments and filing of GST returns
As far as OFFLINE sales is concerned , all the data captured through POS terminal will get transferred to our Central Server
MARKETING :
Not only will we carry out all marketing for your ONLINE sales , we will help you with your OFFLINE marketing , through introduction of the following technology-enhanced features :
# Arranging a better display of merchandize on your shelves / re-arranging of shelves
# Introducing Augmented Reality ( AR ) for clothes / fashion goods in " Trial Rooms " for giving the customers , an experience of " touch - feel - looks "
# Introducing Robots to answer customer inquiries
# Eliminating " Check Out Counters " , based on " Payments through Bio-metric Recognition " of customers
# Embedding RFID sensors in each item of merchandize and RFID readers embedded in Shopping Carts
# Improving your window display thru rotation
# Introducing music
# Eventually replacing " Physical " merchandize with " Holographic Display " of merchandize on your store shelves !
===================================================
Apparently , Mukesh seems to have come up with his “ F-Commerce “
model , after reading the following :
[ source :
" E- Commerce and Foreign Direct Investment " are the " Special Theory of ECONOMY " , whereas " Commerce and Investment " are the " General Theory of ECONOMY "
The best that the Committee can recommend is
adoption of the following ,
Parekh's , " 3 Laws
of E-Commerce Economy "
- to be incorporated as 123rd
Constitutional Amendment
( with apologies to Isaac
Asimov's 3 Laws of Robotics !
) :
LAW # 1 :
Asimov :
A robot may not
injure a human being or, through inaction, allow a human being to come to harm.
Parekh :
Rules / Regulations of E-Commerce shall not come in the way of
unfettered creation of SELF EMPLOYMENT
Any existing Law / Rule / Regulation that hinders a person to
become Self Employed, shall be treated as ultravires
Further , any Law / Regulation of " E-Commerce / FDI "
which slows down Investment ( Foreign or Local / Official or through channeling
of BLACK MONEY ), shall be treated as " bad in law " and struck down
LAW # 2
Asimov :
A robot must obey the orders given it
by human beings, except where such orders would conflict with the First Law.
Parekh :
Laws / Regulations governing "
E-Commerce / FDI " shall be subservient to Laws / Regulations governing "
Commerce / Investment " .
Whenever any Public Authority / Court
finds conflict between the two , laws /
regulations governing " Commerce/ Investments " , shall prevail under
all circumstances , and in favor of the self employed
LAW
# 3
Asimov :
A robot must protect its own
existence as long as such protection does not conflict with the First or Second
Laws.
Parekh :
Laws /
Regulations of " E-Commerce / FDI " which get over-ruled under LAW #
2 , shall immediately " Self Destruct " in favor of unobstructed
progress of TECHNOLOGIAL ADVANCES
=======================================================
01
Jan
2019
RSVP : hcp@RecruitGuru.com
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