VGNC

  The need of situation A reputed brand of Apparels once asked us to analyze and provide solution to cut down its lead time and reduce the size of its GIT at any given point of time as it was eating into its shelf availability of merchandise at front end Stores. The challenge we faced The Client was having a vast supply chain network having 6 warehouses, 126 stores, 35 Consignment Selling Agents, 430 EBOs and 500 MBOs leading to inventory turnover of around 40 lakhs in quantity, out of that around 20% were in GIT. The solution we offered VGNC gracefully accepted the task. We analyzed and mapped the entire movement cycle of inventory from the requisition of stock at receiving location, till its replenishment from warehouse or other stores. Updating of stock in system was consuming huge lead time on account of various technical and human snags. We streamlined the operations and optimized  the lead time and provided solution of better order management and replenishment system. Th...

  The need of situation A reputed brand in retail asked us to streamline one of its inefficient warehouse of one lac square feet dumped with 20 lacs of slow moving inventory consuming huge warehouse space hardly supplying merchandise as retrieval of desired inventory from dump of stock was next to impossible. The unusual high level of inventory was recent closure of  other warehouses the stock from them being displaced and dumped to above warehouse put up for our task.  The challenge we faced The inventory at that warehouse was really a dump as all the stock with minor major repair requirements were being dispatched from all stores to that warehouse facility, apart from fresh stock which was also mixed up. Stocking and staking was in too bad a condition. Segregating and disposing off this huge inventory was an arduous task, which nobody was willing to undertake. The solution we offered Task which nobody is ready to undertake, VGNC gracefully accepts as its coveted job to ...

  The cabinet approved the constitution of the fifteenth finance commission. The fifteenth finance commission will determine the devolution formula for the revenue sharing between Centre and state (from 2020 to 2025). It will also have its task cut with the new tax system. The panel will have to deal with significant changes in the taxation framework, such as GST before making recommendations. Finance Minister Arun Jaitley announced that the cabinet had given an in-principle approval to form the commission and negotiate its terms of reference.The commission, whose members and terms of reference will be notified after finalisation, will make crucial recommendations which will be more in tune with India’s economic needs. The recommendations made by Fourteenth Finance Commission were accepted by the Government. These recommendations will be brought into effect until March 31, 2020. As per the recommendation, the states’ share of the central pool of taxes was increased from 32% to 42%....

  Vipin Garg gives a crisp analysis of union Budget 2018; discusses positives and negatives and explains why he feels the Budget will thrust the world’s largest democracy ahead on its agenda of growth. Amidst the usual speculation of budgetary reforms, the expectation of common people and the world at large looking forward to the budget of one of the fastest growing economy, the finance minister presented the Union Budget 2018. Abstaining from all the temptation to make union budget a mirror of recent USA tax reforms, the Finance Minister presented a budget that was more focused on promoting the aspirations of New and Growing India and consolidate gains. “The highlight of Union Budget 2018 being the rural economy, agriculture, healthcare, infrastructure and MSMEs was not a surprise at all. It was evident that the finance minister will aim for bullseye by laying a robust foundation for growing economy to stand on and push the economy ahead.” – Vipin Garg The budget brings transforma...

  The finance sector has started to shift in the dramatic and dynamic waywith the launch of ‘Digital India’ Initiative of the Government. The situation, however, is a little bit confusing as thedigitization is sudden yet profound. “India is stepping into the future of finance along with the world. And the future is – digital. We need to keep up with it.” – VGNC team It may seem futuristic but at the threshold of the whole process – alignment is missing in reality and conception. The finance leaders and experts across the world are redefining the traditional structure and are slowly adopting the existing technologies of modern times. Business advisories are experimenting with exponential technologies to keep up with the digital dexterity. We, at VGNC, have identified key trends to assist our client to transcend into the digital world and to define the future of finance. For easier and smoother adoption of technologies, it is important to contextualize the whole discussion about digi...

  The economic growth of India witnessed a slowdown. Although the slowdown has now stabilized, the economy is upside down right now. Not to be perceived that there will be a sharp movement of growth to 8% or something like that. But this stabilization can be predicted to bring the economy to 7%. After few more quarters of GST disruption, the Indian economy will start seeing the  full impact of the GST.  In the coming financial quarters, Indian economy will not only leave behind the disruptions created by GST and demonetization but will also catch up with the growth that was slowed down in the process. However, the growth rate is unlikely to reach 8%. INFLATION IS A BIGGER CONCERN IN CURRENT CONDITION Inflation is a bigger and imminent concern. Commodity prices are the drivers of  inflation concerns in India.  This is the reason they are considered huge concern for the Indian Economy as the government has very little control over such drivers. Policy disruption i...

  In the dynamic Indian market situations, where there is a lot of risk antipathy among the managers and stakeholders but they must take bigger and bolder risks; internal audit can play a vital role. Over the past decade, bigger companies have struggled to maintain consistent in growth. Similarly, small and medium companies have suffered instability in their earnings and revenue along with a constant threat on their survival in the market. Understanding the Struggles of Business Organisations While the market is throwing curved balls at the businesses, top management is growing hostile towards the risk. Managers retreating to short term solutions to problems and increase in bureaucracy have contributed to slow down the performance of organisations. Another factor that exacerbates the struggle of organisations are growing number of assurance functions. In the past decade, assurance functions including compliance, risk management, legal and audit have doubled up. Government has not o...

CORPORATE BUSINESS OUTSOURCING Outsourcing:  The term outsourcing, which came from the phrase outside resourcing, originated years ago. The concept often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as  manufacturing, facility management, inspection,  auditing , business consultancy and call centre support . The practice of handing over control of public services to private enterprises, even if on a short-term limited basis, may also be described as “ outsourcing “. Outsourcing includes both foreign and domestic contracting. Importance of Outsourcing:  Outsourcing can offer greater budget flexibility and control by allowing organizations to pay for the services and business functions they need, when they need them.  It also reduces the need to hire and train specialized staff, makes available specialized expertise, and can reduce operating expenses and risk. Corporate B...