Business risk evaluation and its management is an ongoing process within the Company. The Risk Management and Sustainability Committee (RMSC) is inter alia entrusted with the responsibility of monitoring and reviewing the risk management plan, sustainability, cyber security of the Company, and other such functions, as may be delegated by the Board from time to time.
ABFRL is aligned with global enterprise risk management frameworks such as COSO & Task Force on Climate Related Financial Disclosures (TCFD).
Along with our existing collaboration with the Ellen McArthur foundation and Circular Apparel Innovation Factory (CAIF), we have made a large stride in our circularity journey through our collaboration with the ‘GIZ’ a German Government agency in a ‘private-public development partnership project’ with an aim to strengthen circular business practices for the Indian market.
We also participate and collaborate with various global platforms and ESG Indices such as UNEP, SAC, ZDHC, SU.RE, CII, FICCI, IACC, S&P Global.
Future proofing for ABFRL is derived considering anticipated impacts on business, by factor prioritization, exploring uncertainties, and build strategies by using scenarios to understand different future possible worlds, by tracking trends and identifying niche innovations.
With our relentless focus on exploring disruptive and sustainable technologies, we have adopted textile technologies that reduce the use of energy and water during manufacturing as well as use.
We are leveraging technologies and innovative solutions such as CLO 3D garmenting, laser denim to significantly reduce the environmental, business and social impacts in the value chain.
A comprehensive digital transformation programme is underway to drive ecommerce, enhance sustainability, build stronger engagement and affinity for our brands, harness efficiencies and manage risks. Some of the approaches adopted are:
Fabric Grading System: B2B application with the objective to bring the impactful voice of frontline store employees who interact with shoppers on an hourly basis bringing back decisive consumer feedback to the buying and merchandising teams.
D365 Cloud Migration: This is an Upgrade Project taken up for MFL / Pantaloon and other business units from the existing Offline POS version into an Online POS Application. This initiative was taken to overcome the challenges viz., speed, limitations in promotion feature, self-checkout, centralized MIS reporting, data sync, DB maintenance etc. This project helped in removal of Server’s from our data center as the entire solutioning was on cloud, leading to better environment as there will be lesser power consumption leading to lesser carbon emissions.
Product Lifecycle Management:. This deployment of a digital platform provides 360 degree seamless connectivity amongst all stakeholders (internal and the external supplier ecosystem) operating across the concept to shelf spectrum in a manner which makes sampling move to virtual domain along with associated approvals, quality audits become more emissions reducing friendly with reduction of traveling, rescreening and creating a digital and attrition proofing of records in a dynamic environment for compliance of vendor network.
S4HANA: Successful implementation of S/4 HANA platform will make the business attrition and unwanted disruption proof while bringing the end-to-end functions on the same page ensure there is no duplication of data or redundancy of processes.
Hyperlocal Initiatives: Hyper local as a feature on the website lets customer purchase from the nearest store. Customer can choose from the stores/store available in his vicinity and complete their purchase.
ABFRL has one of the largest fashion Omnichannel plays with 50% network omni-enabled. Madura and Pantaloons both are on an omni-channel expansion phase and stores are being transformed from just being physical touchpoints for the customer to delivery locations for e-commerce
