SUMIT SAGAR

Internal Audit Summary:

• Conducted risk-based internal audits of the Retail-Consumer Electronics and connectivity Business to assess the effectiveness of internal controls and drive process improvement.
• Performed onsite audits and reviews at retail stores and distribution centres to ensure compliance and operational efficiency, while also leading a team for the internal audit of supply chain management within the consumer electronics business, consistently meeting stringent deadlines.
• Prepared comprehensive audit reports outlining procedures, findings, and actionable recommendations, while identifying opportunities for process optimization and cost reduction to enhance financial performance and mitigate operational risks.

Key Findings in Internal Audit:

• Performed the audit of Order to Cash process for online business, identifying gaps in promo and coupon configurations, and cart/quantity/value-related discounts, leading to incorrect returns and excess discount outflow.
• Identifying gaps during sales returns without doorstep QC that led to incorrect return processing. Also, identified issues with packing materials used for online orders, resulting in excess cash outflow.
• Performed audit of Supply Chain Management (Warehouse 3PL, Transportation, Variable Cost)
• Audited 3PL planning, performance, and costs, uncovering opportunities that resulted in financial savings through optimized minimum guarantees, pallet rates, and non-moving inventory management.
• Automated manual invoicing of 3PL by implementing Jio face-based attendance and better place system which helps in recruitment, onboarding, attendance tracking, payroll, and compliance.
• Reviewed transport planning and costs, identifying unutilized vehicles, improper allocation of dedicated/market vehicles, lack of vehicle tracking, and manual validation of transporter invoices, leading to discrepancies and excess payouts.
• Reviewed variable costs and optimized contractual demand vs Actual demand, resulting in significant financial savings.
• Performed audit of DC and store Inventory Replenishment, identifying process gaps at the store level due to inadequate planning, leading to sales loss and poor stocking of out-of-plano articles.
• Highlighted process improvements for the liquidation of End-of-Life (EOL) articles, reducing space utilization at both DCs and stores.

Other Areas:

• Developed analytics tools for Replenishment (Inventory Management), streamlining the audit process, reducing turnaround time, and enhancing overall audit efficiency.
• Conducted a Procurement Study Process for senior management, creating a flowchart of the end-to-end procurement process, identifying risks and gaps, and recommending automation for process improvement.
• Created presentations to effectively communicate audit findings and issues to various forums, including BRAC, GADC, and ACM.

• Conducted internal audits for various unlisted companies, identifying key risks and operational gaps.
• Performed statutory audits for Public Sector Undertakings (PSUs) and unlisted companies with turnovers exceeding 500 Crore.
• Executed tax audits for multiple unlisted companies and a listed bank, ensuring compliance with tax regulations.