Live Webinar: How to Reinstate Process Industry and MSME businesses, in today’s times?

Posted by admin on June 4, 2020  / 
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MSME Webinar

Goospares hosted a Webinar with curated content for industry experts from leading companies or MSME’S

Mr. Shyam Sekar, the Chief strategist of Goospares and Founder of Startup Xperts, gave major insights and opportunities for audience interaction.

He shared his insights into the challenges faced by procurement leaders and how to solve it by reaping the benefits of connected technologies for businesses.

The emphasis of the discussion was to provide information and opinions on

  1. Digitalization of business
  2. Digitalization of inventory/supply chain
  3. You plan well for sales and marketing?
  4. Cash generation during & after the crisis!

The first episode of the webinar series deals with industry 4.0’s key areas, and to be focused on by Industrial verticals such as food, pharmaceuticals, essential commodities, etc.

Turning crisis into an opportunity

Mr.Shyam stated that MSMEs or SMEs in India have a huge opportunity for building ecosystems. Low-cost countries now have tremendous opportunities away from another nation. There is now a possibility are in

  • Medical equipment’s
  • Switches
  • Green transportation
  • Manufacturing of rectifiers
  • Semiconductors, and so on.

Business digitalization

Digitization is a way to transform into a digital economy, creates a digital workplace, creates a digital supply chain, creates a digital business environment where digital data are at the core, and many more.

And then, creative digital solutions based on IoT providing a competitive edge in the business world to enhance the quality, reinvent profitable methods, and promote consistency.

He indicated “How much is the share of total MRO supply chain spending”

  • Less than 1M   –  42 %
  • 1M – 4.9M         – 16%
  • 5M-9.9M           – 12%
  • 10M-19.9M       – 5%
  • More than 20M – 6%
  • Unsure              -19%

And also mentioned how much a company spends on MRO products approximately?

Source: Peerless Research Group

Inventory digitalization

Moreover, as an industrialist, we safeguard ourselves in stocking appropriate amounts, in order to analyze the inventory of items required in the present and future if it is not obvious that too many unused products that might not be needed over the next five years have finally ended up buying.

By using an automation process it is time to identify unwanted spares and to turn spares into new parts, which saves more money!

To consider optimistic inventory rates to hold Identify with a positive approach.

Leaner supply chain

Lean management of the supply chain is not primarily targeted at those businesses that manufacture goods, but instead at businesses that want to streamline their operations by reducing duplication and adding value.

  • Procurement – It involves the development of a long-term supply chain and procurement policy plan that includes contracts from manufacturers, market research, and value analysis, and supplier efficiency.
  • Manufacturing – It can be increased in order to decrease waste and energy while maintaining operational efficiency.
  • Warehouse – It should be examined to identify areas for waste disposal and extra checks of non-value.
  • Transportation – The costs associated with transport can also be reduced by reducing the number of shipping options.

Why is digital marketing for small businesses improving?

Here is a short overview of some of the most popular digital marketing strategies and their platforms.

  • Search Engine Optimization (SEO) – a significant search engine ranking factor in Google’s eyes.
  • Analytics – The analytics will help to show how effective the audience was, why, and how
  • Machine learning – Contact hyper-specific prospects in the sales funnel with several touchpoints.
  • Social media marketing – Any small company that wants to expand its scope is no brainer to invest in social media marketing.
  • Social media listening – How is your target market doing already? How do they appear to be open to? What do they talk about?

He expressed that, “without a proper strategy and good execution skills, businesses will be running like headless chickens”

Are we ready for the whole digital revolution now and in the future?

Contactless payment offers better operational efficiency and customer experience.

 Mentoring is a great way to rapidly improve these skills and shield you from potentially questionable business decisions.

Sales training with the right negotiating tactics along with product knowledge, pricing, and presentation, the salesperson is ready to go and this can make a difference. The sales training process is therefore a key factor in the world of sales.

Mr.shyam now shared the broad theme of the webinar:

The circular economy.

The circular economy, at its core, seeks to create more value and profit of resources, with a look beyond what is currently happening.

Whereas a circular economy may seem idealistic – it generates income from idle stocks, supplies of idle stocks across the country with low lead times, and efficient warehouse utilization.

In addition, MRO supplies are required in various industries, whereas they are mechanical or electrical components, by overlaps between many industries, are quite similar or different.

Liquidate excess unused inventory

Learn how to liquidate excess unused inventory smartly,

Liquidation between Tier 1 (larger manufacturing companies) and Tier 2&3 (smaller production enterprises) and MSMEs. Buy unused excess inventory from the Tier-1 industry at a competitive price and circulated between SMEs and MSMEs.

Here’s how you can get it done,

Liquidate Excess Inventory

An online marketplace for your MRO needs

Looking up for an easy operation?

Well, Goospares is an online platform with vast specialization in liquidating excess and unused inventory. When you are bothered about inventory carrying costs and thinking of liquidating, this website is here for you.

This platform can be a good way to get the best bang for your buck, and the auction setting can be a good way to maximize the value of your excess inventory.

The category of products includes Electrical, automobiles, mechanical, fasteners, etc.

To operate on the platform, you have to register as a buyer or you can simply post your requirements on the website, a representative will contact you to complete the process.

Both buyers and sellers may join a single network from which some unused inventory can be reused.

The buying of new stuff for the next 12-18 months is a challenge. And with the digital revolution, we manage it efficiently.

Probably you’re wondering!!

Goospares enables buyers and sellers to add value, as well as to connect and develop the intra-country network as a virtual warehouse. You can use this platform and liquidate high volumes of your unsold goods.

Finally, stated that don’t scrap it!! We have an expert team that can assist you! Take advantage of that! You will, therefore, have to make the right choice for your business.

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