Internship Summary Report
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1. The project aimed to redesign Flipkart's Seller Protection Fund process to minimize payouts from the fund, which had been rising due to an increase in returns, fraudulent behavior, and operational inefficiencies. 2. Recommendations were made to reduce claims and payouts by changing seller policies, improving the claims process, and introducing new product features to enhance the seller experience. 3. Fraud detection engines and process changes were also suggested to curb different types of fraudulent behavior by sellers, buyers, and logistics in order to further reduce payouts from the protection fund.
Internship Summary Report
- 1. Seller Protect Fund: Process Revamp Summer Internship Project Summary Approved By: Mr. Praveen Kumathalli Director of Product Seller Platform Flipkart Internet Private limited Submitted By: Suryaprakash Singh 1411198 IIM Bangalore
- 2. SELLER PROTECTION FUND: PROCESS REVAMPING Executive Summary The Seller Protection Program safeguards sellers from losses incurred due to customer returns or courier returns received in an unacceptable state via compensation from Seller Protection Fund (SPF), thus ensuring that the seller does not get impacted. Furthermore, this program has been designed to safeguard the sellers’ interests and make Flipkart a secure medium for sellers to conduct business. Recently, the monthly payout due to SPF has been on the incremental rise because of increase in number of returns, buyer/seller fraudulent behaviour, and operational inefficiency in Logistics as well as in current manual Validation process. The project revolves around redesigning the entire process end to end, thus minimizing the payout as a result of Seller Protection Fund. SPF payout is a function of the number of returns, claim rate, approval rate and net payout ratio. During this project, each of these parameters was targeted and analysed to reduce the overall SPF payouts. Firstly the recommendations were made on the Seller Claim Policy side to minimize overall claim request as well as SPF payout. Next, to bring in better seller and agent experience many product feature recommendation were given. That will also help to reduce TAT for resolving the claim request. In this regard, the issues that the users were facing in raising claim request, validation and reporting stage were identified and various short-term process changes were suggested which will help in bringing down the approval rate to a great extent. For a long term solution, different product asks identified and recommended to improve the seller as well as Validation Consultant experience. For tackling fraudulent behaviour from a seller/buyer/logistic and to control such kind incidents, fraud and a validation engine recommendation were given on the basis of various parameters. Different types of fraudulent behaviour in Return to Origin/Reverse Pickup at customer, seller and platform level were identified with brief modus operandi in each used case. Also change in product, process and policy solves were suggested. The compensation through the Seller Protection Fund is a major concern for Flipkart since it has moved to Marketplace model. And as this amount would going to rise as the number of sellers in the Flipkart marketplace will be increasing day by day. So solving for a reduction in the payout through SPF is indispensable, and the deliverables through this project will help in achieving it.