Hi Satish,
happy new year to you too.
Your screenshot already shows that there is some explanation given for the type of conflict, and even in many cases the system gives you suggestions what to do with it.
You can implement your own conflict handling and related actions, in order to automate handling of the conflicts, some of which might be very minor.
https://help.sap.com/saphelp_globext607_10/helpdata/en/5e/f38feacfa34d4694bd1243ea32820e/content.htm
Regards, Ulf.