MSRcosmos group launches Farms IQ to empower the agricultural supply chain with cutting edge technology

MUMBAI, 29 NOVEMBER, 2022 (TGN): MSRcosmos, an enterprise IT services company providing world class software solutions & services to leading organizations across the globe launches Farms IQ, a robust digital system for the agricultural supply chain that can help increase productivity while enhancing business value for agriculture and farm brands. Farms IQ will serve as a subsidiary of the MSRcosmos group of companies. 

The new venture will aid in combating counterfeit activity, tracking product inventory, strengthening customer loyalty and engagement for brands and businesses in the agricultural sector. Farms IQ shall make use of Track & Trace technology to enhance traceability with blockchain-enabled QR codes and provide cost-efficient delivery of products, track their real-time consumption patterns, enhance traceability and facilitate automation. This will not just include anti-Counterfeit measures but also contribute towards the overall strengthening of the agricultural business. 

Farms IQ will also be offering rewards and loyalty ecosystems for brands to incentivize the retailer or consumer directly thus being able to maximize their ROI and accelerate customer growth. It will leverage Artificial Intelligence to offer a dashboard of performance report, sales tracking and end-customer registration to streamline workflow for businesses. 

Asset Digitization solutions under Farms IQ will allow smooth trading and ownership of asset transfers as a digital copy of each asset can be generated on a blockchain-powered network, driving transparency and efficiency at every level of operation. 

Farms IQ  will provide technology that can be used to significantly boost business value, ensure sustainability, lower carbon footprints, create profitable business models, and gain strategic advantages for businesses in the agricultural field. Businesses can experience reduced costs, create a secure environment, enhance further business prospects, reduce fraud, and improve customer retention and loyalty. 

Mr. Balaji Kandregula Sr.Director Products and Solutions at MSRcosmos, said, “Agriculture is a big part of the Indian economy or rather any economy because it helps feed the entire population. It engages and collaborates with all industry sectors. A society is typically seen as strong and stable if it has a solid agricultural foundation. Through this new offering, we seek to enhance the system as well as increase the efficiency of the agro supply chain. Our goal is to provide agricultural industry players with solutions that promote sustainability, transparency, and business value.” Ends

MSRvantage offers Serialization Systems in pharmaceutical packaging to combat counterfeiting

Mumbai, 28th November, 2022 (TGN): MSRvantage, IT Services subsidiary of MSRcosmos Group, U.S.-based multinational conglomerate enables blockchain based product serialization solutions for the pharmaceutical industry. This offering aims at enhancing security for medicine brands and consumers both by providing a complete and transparent overview of the products’ journey to fight fraud and counterfeit.

“With our next gen blockchain solution and pharma services experience, companies can make their brand name synonymous with trust and authentic medicines.” Said Mr. Balaji Kandregula, Vice President, MSRvantage. In the past, the industry has witnessed pharmaceutical products lose out to market-circulating bogus goods and treatments. Companies have long battled to remove them from the market in order to protect potential and crucial patients. Not only is a brand's image and reputation at risk, but it's also possible that one of the raw materials used to create a specific product does not meet industry standards, necessitating the recall of all the medicines. To limit loss and ensure that faulty products don’t reach the final consumer, these issues must be handled quickly and properly.

“The step was to implement pharma product serialization. It’s a method in which product packaging are assigned a unique code. The code is defined according to the country’s regulation and follows the industry standard.” said Mr. Kandregula. For further protection and safety, the code is visible on both the primary and secondary packaging of the products. Quality Control (QC) and Quality Assurance (QA) are implemented effectively and efficiently since pharmaceutical companies have a long list of laws and regulations to check off and to ensure that risk is reduced. They must ensure that the funds and resources are utilized effectively. All network participants may see where and in what condition the merchandise is because blockchain provides information over a shared network with distributed systems.

Because each product has a unique serial number, it is simple to trace them. This implies that faulty products may be quickly recalled and false products can be quickly removed from the market. A product's manufacturing process, location in the supply chain, and delivery status can all be fully transparent through. The solutions from MSRvantage offer real-time data traceability based on 24-hour tracking.

Blockchain-based smart contracts ensure that there are no middlemen, which restricts the ability of phony goods to enter the market. By connecting operations with identification labeling and authentication systems, blockchain also offers protection.

More information on product serialization offerings and other solutions by MSRvantage is available here.

RELIANCE RETAIL NOT LIFTED GOOD FOR AROUND 8 MONTHS IN SPITE OF MUTUAL UNDERSTANDING BETWEEN RELIANCE RETAIL, FUTURE GROUP & VENDORS: GOODS WORTH Rs. 500 CRORE INVOLVED

FUTURE GROUP’S MSME VENDORS IN JEOPARDY ALONG WITH ONE LAKH WORKERS AS PAYMENTS NOT RECEIVED FOR LAST 3 YEARS

 MSME GARMENT VENDORS WILL GATHER TO MAKE DESPERATE PLEA TO LIFT UP READY INVENTORY ON 14TH NOVEMBER 2022 AT RELIANCE RETAIL HEAD OFFICE

 NO CLEAR ASSURANCE FROM FUTURE GROUP DURING VENDOR’S AGITATION HELD ON 11TH NOVEMBER,2022 AT THEIR HEAD OFFICE

MUMBAI, 14th NOVEMBER, 2022 (TGN): Future Group Vendors United (FGVU) is an association of more than 300 MSME vendors supplying garment and fashion accessories to all Future Group companies namely Future Enterprises Ltd / Future Retail Ltd / Future Lifestyle Fashions Ltd / Future Speciality Retail Ltd.

Mr. Piyush Shah, Co-Founder & Member of Future Group Vendors United stated that the future of vendors and around one lakh workers was in jeopardy. & dire state as no payments received from Future Group for more than 3 years and ready goods of around Rs. 500 Crore lying to be lifted. The vendors of FGVU had a gathering of more than 100 vendors at Future Group’s head office in jogeshwari to meet Mr.Kishore Biyani on 7th November, 2022. Mr. Biyani called us on 11th November, when we met under strict police bandobast. He heard us but no clear reply or the solution was given by him.

In view of above situation, the vendors have decided to gather outside Reliance Retail head office at Ghansoli, Navi Mumbai on 14th November, 2022 at 11 AM for making desperate plea to lift the ready inventory. Vendors from across the country, viz. Tirupur, Delhi, Gujarat, Rajasthan etc. have been camping in Mumbai, will join the gathering.

We had two points agenda, while meeting Mr. Kishore Biyani, though nothing came out from the meeting.

1) Recovery of our outstanding in all Future Group companies pending since over 3 years.

2) The goods which we had made under the tripartite arrangement between Future Enterprises Ltd / Reliance Retail Ltd / Vendors lying with us since last 8 months.

Post pandemic when Future group was in a bad shape financially and when we all vendors had stopped supplying goods to Future Group companies as old outstanding was already pending and had no clarity regarding the payments, then Reliance Retail Ltd came in support of Future Group.

A mutual arrangement was arrived at where we vendors used to bill goods to Future Enterprises Ltd and ship to Reliance Retail Ltd and payments for the same were done by Reliance Retail Ltd directly to the vendors.

Since the vendors were also exhausted financially, so this mutual arrangement was structured in this manner where Reliance used to pay 25% of PO value in advance and balance within 10 days of GRN(Goods Received Note) at Reliance Retail Ltd warehouse.

This continued for 6 months after which the payment terms were revised to 45 days post GRN and this arrangement was supposed to last till 31-03-2022 and we received payments duly till February 2022

Then suddenly came a time when since January 2022, when Reliance Retail stopped lifting the goods for which orders were already placed to us by the sourcing team of Future Group along with the PO copies . Thus, the vendors and around one lakh workers’ future were jeopardised, leaving them in mid-sea on their own with a backlog of inventory and payment and nowhere to go.

There was no information about anything until 27th April 2022 when we came to know that their deal was called off (Reliance – Future deal).

After a lot of request, part quantity of our goods were lifted by reliance retail Ltd in the month of July / August 2022 but a major part of our goods are still lying with us which has a value of more than 500 crore.

Most of the future group stores were acquired and their front end and back end staff were absorbed by Reliance Retail and they continue to pay the rents and salaries to them respectively

We fail to understand how reliance is paying rent and electricity of closed stores of Future Group and paying salaries to employees without any work for last more than 6 months, value of which far exceeds the amount of goods which is merely worth Rs. 500 cr.

Being Future Group vendors, we had no way to contact Reliance Retail and we do not even have a clear reply from Future Group inspite of chasing them for last 8 months .

We have approached all the institutions, associations, MSME and other government bodies to support the industry or else thousands of vendors who are MSMEs and who employ more than 1 lakh workers will be out of business and won’t survive this delay in payments and ready goods deliveries. The whole industry will see the drastic effects of unimagined magnitude & crisis for a long time if the issue of these Msme’s is not resolved.

Some desperate measures need to be taken not only in the interest of these MSME vendors & huge number of workers but also to safeguard the general interest of garment industry in the country.

For further information, please contact Mr. Piyush Shah, Co-Founder of “Future Group Vendors United” Association on +91 93244 65500.Ends

MSRvantage launches smart contracts based customer loyalty solutions for retail brands

MUMBAI, 1st NOVEMBER, 2022 (TGN): By reshaping rewards and customer loyalty programmes with the use of latest technology, MSRvantage empowers retail brands to achieve better business prospects and adapt to the shifting demands of the growing market. As a result, expenses are minimized, brand loyalty is increased, and intelligent collaboration for trustworthy business agreements is made possible.

Businesses are leading the digital transformation in today's environment. The demand for effective solutions has increased along with the development of effective technologies. In order to accelerate digitalization across all of their company promotion strategies and create an efficient loyalty programme for customers and influencers, they discover the necessity to construct a reliable technical foundation.With top-notch loyalty solutions that entice customers and strengthen value propositions with intelligent automation, this offering from MSRvantage will assist brands in maintaining their client loyalty. By directly rewarding the retailers themselves, it aids retail businesses in digitising their trade promotion strategies and decreasing their dependency on middlemen. With the help of MSRvantage's blockchain-based rewards and loyalty solution, the company can assess performance more clearly. Additionally, analytical tools and dashboards assist the business in closely observing, evaluating, and estimating the success of both the present and new schemes.

“It is critical for companies to strategically invest in cutting-edge technology like blockchain as customer-focused business strategies become the norm.” said Mr. Balaji Kandregula, Vice President, MSRvantage. He emphasised how consumers acclimated to a variety of new technologies fast during the past year, whetting their hunger for change. This also applies to loyalty programmes and how they need to be updated to accommodate members' openness to novel ideas, particularly younger members searching for innovative ways to interact with programmes online. With the aid of MSRvantage's blockchain solutions, brands can be more creative in luring customers to their incentive and loyalty programmes and ultimately to their physical locations.

For details please visit :

https://www.msrvantage.com/services/