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Transcript of Internship 2012
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(First Page)
MASTERS IN MANAGEMENT STUDIES
Summer Internship Report
Name of Company : FTECH ENTERPRISES
Address of Company : Gala No. 9/A,Egal Market,
90 Ft.Rd.,Next To Peninsula Hotel,
Sakinaka,Andheri (East),
Mumbai 400072.
Phone No. : 9870482986
Email id. : [email protected]
Submitted by:
FIRDOS AHMED SHAIKH
(Roll No.43)
Name of Coordinator: x-------------x
BESs Institute of Management Studies and Research
( Approved by AICTE & Affiliated to University of Mumbai)
May 2012
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DECLARATION
I hereby declare that the Summer Internship Report submitted for the MMS
Degree, BESs Institute of Management Studies and Research (Affiliated to
University of Mumbai) is my original work and conducted in FTECH
ENTERPRISES Company.
Place: Mumbai
Date:
FIRDOS AHMED SHAIKH
Signature of the student
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Certificate
This is to certify that the Summer Internship Report is the bona fide internship
work carried out by Mr. Firdos Ahmed Shaikh student of MMS, at BESs
Institute of Management Studies and Research (Affiliated to University of
Mumbai) during the May to July 2010, in partial fulfillment of the requirements
for the award of the Degree of Master in Management Studies.
Place: Mumbai
Date:
Signature of the Director Signature of the Coordinator
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ACKNOWLEDGEMENTS
I wish to express my gratitude to MR.Firoz Shaikh from the Ftech Enterprises
Company for providing me valuable information.
I am grateful to BESs Institute of Management Studies and Research for
giving me an opportunity to pursue MMS. I wish to thank Professor Vikram D.
Shikhare, Director, BESs Institute of Management Studies and Research who
has been a perpetual source of inspiration and offered valuable suggestions
to improve my practical Knowledge.
I am indebted to my Coordinator X-------------X Professor, BESs Institute of
Management Studies and Research, for abundant guidance, support, and
encouragement throughout my internship Study.
I would like to express my thanks to various people from the Ftech
Enterprises Company for their support and direction.
Place: Mumbai
Date: July , 2012
Signature of the student
( FIRDOS AHMED SHAIKH )
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TABLE OF CONTENTS
Sr.
No.
Content Page No.
1. Company profile
2. Genesis of the project
3.1 Demand management
3.2 Demand management for MTO
3.3 Demand forecasting
3.4 Make to order v/s make to stock
4 Objectives of Project
5 Research Methodology
6 Data analysis
7 Discussion
8 Outcome of the study
9 Recommendations
10 References
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COMPANY PROFILE
FTECH ENTERPRISES ( Established in 1993) located in Navi
Mumbai,Maharashtra are leading Manufacturer-Exporters of Central Air
Conditioning accssories like One Piece Diffusers,Swirl Diffusers,VCD
Quadrants,Grilles,Dampers etc. It is one of renowned One Star export house
of india
Mr .FIROZ SHAIKH is Founder and Managing Partner of Ftech enterprises
and is the inventor of One Piece Diffuser,which is Patented product all over
the world. This design has altered the whole cost and efficiency equations in
air conditioning industry.
FTECH ENTERPRISES is situated on the outskirts of Mumbai(BOMBAY),
which are well equipped with latest CNC machines. High Speed
machines,Hundred of power presss machines ranging from 10 to 250 tonnes.
Above all,these units are Handled by 200 skilled workers, experienced
Engineers and technically sound Directors.
FTECH ENTERPRISES is known for innovations.Over two decades FTECH
ENTERPRISESS has developed many technologically improved products for
air conditioning industry in the world.Egg Crate Grille is the latest addition in
our existing wide product range.
The One-Piece Diffuser- High Quality ,energy
Efficient,Economical,Good Looking is boon to the air conditoning
industry. This wonder product has been invented by us and marketed all
over the world. Ever since its establishment,We have manufactured millions
of diffusers and exported to European Countries,Middle East ,South East Asia
and othe developed countries.
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We have received several honours in India.Best being the National Award for
Research and Development granted by the Government of India.
Internationally,the ASHRAE Team at AHR Expo 2003 honoured us by
selecting our product for the AHR EXPO INNOVATION HONOURS which
was held in Chicago(U.S.A) in january 2003.
One Piece Diffusers manufactured by FTECH are tested by ETL
Laboratories USA- oldest testing laboratory in the world and which gives the
correct technical details of our products.
Product Range:
ONE PIECE DIFFUSERS
FLAT DIFFUSERS & 3-CONE DIFFUSERS
OPPOSED BLADE DAMPERS
GRILLES-SINGLE AND DOUBLE DEFLECTION
ECG CRATE GRILLEVCD QUADRANTS & OTHER ACCESSORIES
REQUIRED FOR CENTRAL AIRCONDITIONING SYSTEM
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GENESIS OF THE PROJECT
FTECH ENTERPRISES located in Navi Mumbai,Maharashtra are leadingManufacturer-Exporters of Central Air Conditioning products
Working for ftech enterprises for the period of 2 months was a greatexperience keeping my carrier in mind. Good ambiance ,properfacilities,supporting staff,and lots of learning was some of the key features ofthis organization
While Working with this organisation i noticed few things which i discussedwith sir. As this organisation makes hybrid products so they are involved in alltypes of scenario such as MTO,MTS,ATO AND ETO .But during thediscussion sir told me to focus mainly on the area which means a lot to themwhich is MTO(Make to order). As ftech enterprises mostly deals with MTOproducts there is always pressure on organisation to meet customer needs in
time by producing product before the due date and by fulfilling thespecifications of product. During this quality according to the specifation of theproduct is also a major concern because even a slightest mistake can causeimproper quality which will in turn effect the credibility and profitability of theorganization
So first thing which I found important to facilate demand management in thiskind of organization is digitization by reducing the paper work. As thisorganisation is still using papers for documentation and less of digitizationthere is definitely need of change This can be done only if sales, purchaseand accounting department are integrated by a computerized software i.e.
ERP
This software can also be useful in two ways
1. Whether the production is going according to the flow so that the customerdemand can be met before the due date so that delivery can be done on time
2. As per the requirements of the customers proper planning of manpower,machine. Materials along with the cost required can be done
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DEMAND MANAGEMENT
Demand forecasting is the activity of estimating the quantity of a product or
service that consumers will purchase. Demand forecasting involves
techniques including both informal methods, such as educated guesses, and
quantitative methods, such as the use of historical sales data or current data
from test markets. Demand forecasting may be used in making pricing
decisions, in assessing future capacity requirements, or in making decisions
on whether to enter a new market
Demand forecasting is an activity a company does internally when it sets its
sales budget. The demand forecast influences all upstream commitments and
decisions. Forecasting is important and fundamental to any business. It is the
act of looking ahead and anticipating the future.
Forecasting provides lead time to do the following:
$ Respond to new situations (avoid surprises)
$ Make optimal, and proactive decisions, instead of doing things by
default, in a reactive mode
TYPES OF DEMAND FORECAST
LONG TERM
Long-term forecasts are for strategic management decisions such as those
concerning new product introduction, large investments, acquisitions, entry
into new regions or markets, and more.
MEDIUM TERMMedium-term forecasts relate to tactical,yearly,decisions.These includeinventory planning, master production planning, subcontracting policies,hiring, setting staff/sales targets and bonuses, and more.
SHORT TERMShort-term forecasts are for daily and weekly scheduling
http://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecasting -
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TECHNIQUES OF DEMAND MANAGEMENT
Broadly speaking, there are two approaches to demand forecasting- one is to
obtain information about the likely purchase behavior of the buyer throughcollecting experts opinion or by conducting interviews with consumers, the
other is to use past experience as a guide through a set of statistical
techniques. Both these methods rely on varying degrees of judgment. The
first method is usually found suitable for short-term forecasting, the latter for
long-term forecasting. There are specific techniques which fall under each of
these broad methods.
Simple Survey Method:
For forecasting the demand for existing product, such survey methods are
often employed. In this set of methods, we may undertake the following
exercise.
1) Experts Opinion Poll: In this method, the experts on the particular product
whose demand is under study are requested to give their opinion or feel
about the product. These experts, dealing in the same or similar product, are
able to predict the likely sales of a given product in future periods underdifferent conditions based on their experience. If the number of such experts
is large and their experience-based reactions are different, then an average-
simple or weighted is found to lead to unique forecasts. Sometimes this
method is also called the hunch method but it replaces analysis by opinions
and it can thus turn out to be highly subjective in nature.
2) Reasoned Opinion-Delphi Technique: This is a variant of the opinion poll
method. Here is an attempt to arrive at a consensus in an uncertain area by
questioning a group of experts repeatedly until the responses appear to
converge along a single line. The participants are supplied with responses to
previous questions (including seasonings from others in the group by a
coordinator or a leader or operator of some sort). Such feedback may result in
an expert revising his earlier opinion. The Delphi Techniques, followed by the
Greeks earlier, thus generates reasoned opinion in place of unstructured
opinion; but this is still a poor proxy for market behavior of economic
variables.
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3) Consumers Survey- Complete Enumeration Method: Under this, the
forecaster undertakes a complete survey of all consumers whose demand he
intends to forecast, Once this information is collected, the sales forecasts are
obtained by simply adding the probable demands of all consumers. The
principle merit of this method is that the forecaster does not introduce any
bias or value judgment of his own. He simply records the data and
aggregates.
4) Consumer Survey-Sample Survey Method: Under this method, the
forecaster selects a few consuming units out of the relevant population and
then collects data on their probable demands for the product during the
forecast period. The total demand of sample units is finally blown up to
generate the total demand forecast.
5) End-user Method of Consumers Survey: Under this method, the sales of
a product are projected through a survey of its end-users. A product is usedfor final consumption or as an intermediate product in the production of other
goods in the domestic market, or it may be exported as well as imported. The
demands for final consumption and exports net of imports are estimated
through some other forecasting method, and its demand for intermediate use
is estimated through a survey of its user industries.
Complex Statistical Methods:
(1) Time series analysis or trend method: Under this method, the timeseries data on the under forecast are used to fit a trend line or curveeither graphically or through statistical method of Least Squares. Thetrend line is worked out by fitting a trend equation to time series datawith the aid of an estimation method. The trend equation could takeeither a linear or any kind of non-linear form. The trend methodoutlined above often yields a dependable forecast. The advantage inthis method is that it does not require the formal knowledge ofeconomic theory and the market, it only needs the time series data.The only limitation in this method is that it assumes that the past is
repeated in future. Also, it is an appropriate method for long-runforecasts, but inappropriate for short-run forecasts. Sometimes thetime series analysis may not reveal a significant trend of any kind. Inthat case, the moving average method or exponentially weightedmoving average method is used to smoothen the series.
Moving Averages: Perhaps the simplest of all time series forecastingtechniques is a moving average. To use this method, we calculate theaverage of, say, three periods of actual demand and use that to
forecast the next period's demand. If this three-period average is to beused as a forecast, it would have to forecast demand in a future period,such as Period 8.
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Because each average moves ahead one period each time, droppingthe oldest value and adding the most recent, this procedure is called amoving average. The number of periods to use in computing theaverage may be anything from 2 to 12 or more, with 3 or 4 periodsbeing common. If the time series is such that there is no upward ordownward trend, then the moving average is a satisfactory technique.If, how-ever, there is any trend or any seasonal effect, then the movingaverage will not work very well. Moving averages lag behind anytrends.
(2) Barometric Techniques or Lead-Lag indicators method: This consists
in discovering a set of series of some variables which exhibit a close
association in their movement over a period or time.
For example, it shows the movement of agricultural income (AY series) and
the sale of tractors (ST series). The movement of AY is similar to that of ST,but the movement in ST takes place after a years time lag compared to the
movement in AY. Thus if one knows the direction of the movement in
agriculture income (AY), one can predict the direction of movement of tractors
sale (ST) for the next year. Thus agricultural income (AY) may be used as a
barometer (a leading indicator) to help the short-term forecast for the sale of
tractors.
3) Correlation and Regression: These involve the use of econometric
methods to determine the nature and degree of association between/among a
set of variables. Econometrics, you may recall, is the use of economic theory,
statistical analysis and mathematical functions to determine the relationship
between a dependent variable (say, sales) and one or more independent
variables (like price, income, advertisement etc.). The relationship may be
expressed in the form of a demand function, as we have seen earlier. Such
relationships, based on past data can be used for forecasting. The analysis
can be carried with varying degrees of complexity. Here we shall not get into
the methods of finding out correlation coefficient or regression equation; you
must have covered those statistical techniques as a part of quantitative
methods. Similarly, we shall not go into the question of economic theory. We
shall concentrate simply on the use of these econometric techniques in
forecasting.
We are on the realm of multiple regression and multiple correlation. The form
of the equation may be:
DX = a + b1A + b2PX + b3Py
You know that the regression coefficients b1, b2, b3 and b4 are the components
of relevant elasticity of demand. For example, b1 is a component of price
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elasticity of demand. The reflect the direction as well as proportion of change
in demand for x as a result of a change in any of its explanatory variables. For
example, b2< 0 suggest that DX and PX are inversely related; b4 > 0 suggest
that x and y are substitutes; b3 > 0 suggest that x is a normal commodity with
commodity with positive income-effect.
Given the estimated value of and b i, you may forecast the expected sales(DX), if you know the future values of explanatory variables like own price (PX),
related price (Py), income (B) and advertisement (A). Lastly, you may also
recall that the statistics R2 (Co-efficient of determination) gives the measure
of goodness of fit. The closer it is to unity, the better is the fit, and that way
you get a more reliable forecast.
The principle advantage of this method is that it is prescriptive as well
descriptive. That is, besides generating demand forecast, it explains why the
demand is what it is. In other words, this technique has got both explanatoryand predictive value. The regression method is neither mechanistic like the
trend method nor subjective like the opinion poll method. In this method of
forecasting, you may use not only time-series data but also cross section
data. The only precaution you need to take is that data analysis should be
based on the logic of economic theory.
(4) Simultaneous Equations Method: Here is a very sophisticated method of
forecasting. It is also known as the complete system approach or
econometric model building. In your earlier units, we have made reference to
such econometric models. Presently we do not intend to get into the details ofthis method because it is a subject by itself. Moreover, this method is normally
used in macro-level forecasting for the economy as a whole; in this course,
our focus is limited to micro elements only. Of course, you, as corporate
managers, should know the basic elements in such an approach.
The method is indeed very complicated. However, in the days of computer,
when package programmes are available, this method can be used easily to
derive meaningful forecasts. The principle advantage in this method is that the
forecaster needs to estimate the future values of only the exogenousvariables unlike the regression method where he has to predict the future
values of all, endogenous and exogenous variables affecting the variable
under forecast. The values of exogenous variables are easier to predict than
those of the endogenous variables. However, such econometric models have
limitations, similar to that of regression method.
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DEMAND MANAGEMENT FOR MTO(MAKE TO ORDER)
The focus of demand management in the MTS and ATO environment was
largely on satisfying customers from the appropriate inventory finished goods
or components . In the make to order and engineer to order environment there
is another resource that needs to be taken into account engineering. Moving
the customer order decoupling point to raw materials or even suppliers puts
independent demand information further into the firm and reduce the scope ofdependent demand information. Moreover ,the nature of the information
needed from customers changes. we knew what the customer could buy in
the MTS and ATO environment but not if when or how many in the make
(engineer) to order environment on the other hand we are not sure what they
are going to buy. We need, therefore, to get the product specification from the
customers and translate these into manufacturing terms in the company. This
means that a task of demand management in the environment is to coordinate
information on customer product needs with engineering
The need for engineering resources in the engineer to order case is some
what different than in the make to order case. In the make to order
environment, engineering determines what material will be require ,what steps
will be required in manufacturing and the cost involved The materials will
come from companys inventory or be purchased from suppliers. In the
engineer to order environment more of this same information is needed from
customer although more of the details design may be left to engineers than
the customers. Because of the need for engineering resources in this
environment demand management s forecasting task now includes
determining how much engineering capacity will be required to meet future
customer needs.This may be complicated because some orders scan be in
progress, even though they arent Completely specified and engineering,so
materials co-ordination is still important
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MAKE TO STOCK V/S MAKE TO ORDER
Introduction.
The processes of make-to-order and make-to-stock are similar at first sight.
The major difference is that in make-to-order, production orders are linked to
one or more sales orders whereas in make-to-stock production, orders are the
result of production planning, which in its turn is based on a sales prognosis.
Let us have a look at make-to-order first and see what implications it has for
your ERP system, then focus on make-to-stock and finally draw our
conclusions.
Make-to-order.
Your production orders are caused by sales orders. This means that your
ERP system must have a strong and intelligent link between its sales order
module and the production-planning module. Sales orders must be translated
into production orders. You should be able to monitor the progress of
individual production orders so that you can keep your customers informed
about a particular sales order.
Let us illustrate it all with an example. A client orders a particular machine.
The machine consists of many components listed on a bill of material. Some
components are used in different machine models. The sales order is
translated with the help of the bill of material into a production request. The
production request will be combined with others (if there are any) to make a
production schedule. The components for the machine are either to be
manufactured or purchased. Some purchase components you keep in stock,
others you purchase when needed.
In a make-to-order environment production planning and purchasing can bequite hectic. If you have a pipeline of prospect orders the production planning
and purchase departments can be prepared for things to come, but not if your
production planning is totally dependent on the whims of your clients. Your
ERP system must enable you to be flexible. For instance: delay one order and
speed up another.
A risk of make-to-order production is inefficiency and more wastage.
Combining production orders as much as possible and refining the production
process to its maximum potential can reduce this risk.
To a certain extent the inventory manager can make sure that much used
components are ready available in stock but the cost of having everything
always in store is often prohibitive. Your purchasing department must be able
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to act quickly and look for alternative suppliers fast when a preferred supplier
cannot deliver. Just-in-time delivery arrangements must be made beforehand.
The purchasing module of the ERP system must have this information readily
available.
Make to stock.
In this case production planning is based on a sales forecast for a certain
time, a year, six months or a quarter. The ERP must be able to support the
process of making a prognosis by providing statistical data and projections
based upon historical information. The transformation of a sales forecast to a
production planning is roughly similar to that described above.
The advantage of producing for stock is that you are in most cases able to
spread the production evenly over a given time period, avoiding most of the
hectic scenes that often characterize make-to-order production. There is
much room for achieving a highly efficient and effective manner of production.
This does not mean that make-to-stock production is stable and free from
erratic movements. Your production planning must be smoothly adjustable to
changes in your sales forecast.
An ERP system geared to make-to-stock production can in one aspect make
life for your purchasing department easier: purchase orders are issued well in
time on the basis of parameters as minimum stock, minimum order quantity
and actual need (if the production quota for a particular article has beenfulfilled, then the need for certain components will diminish)
Conclusions.
There is a great similarity between the processes but also some important
differences that have implications for the capabilities needed in your ERP
system.Make-to-order:
The ERP system must have a strong and intelligent link between the salesorder module and the production process module in order to transfer salesorders into production orders.
Monitoring of individual production orders must be possible in order to meetthe customers demands and to keep them informed about the progress oftheir orders. Production orders must traced back to sales orders.
The ERP system must enable a highly flexible processing of orders in order tomeet irregular sales demands.
The ERP system should strongly support the inventory manager and thepurchasing department, to ensure an uninterrupted flow of components and tokeep stocks as low as possible.
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You should take measures to reduce the risk of inefficiency and wastage.Make-to-stock:
The ERP system must have strong statistical capabilities in order to supportthe sales forecasting process. Of course sales forecasting relies mainly onmarket expectations and projections but the statistical data provided by theERP system is useful additional information.
The sales forecast will be transformed into a production planning, similar as inmake-to-order production.
Make-to-stock leads to an evenly spread production schedule which is goodfor efficiency and effectiveness.
However there is still need for flexibility to adjust to suddenly changing marketcircumstances.
Purchasing must take into account the projected future need for componentsin relation to already fulfilled production quota.
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OBEJECTIVES
To ensure uncertainty in demand To ensures proactive preventive maintenance is coupled with
customers demands. Making recommendations for Service Improvement Plans Ensuring the Demand Management process is performed as designed. Ensuring the Demand Management process is fit for purpose. Ensuring process description meets objectives To mange the demand by reducing cost To manage demand With more efficiency,timely delivery,with minimum
wastage To satisfy customers demand by fulfilling his needs To keep buffer stock so that delivery can be made within time In case of some problems such as power failure,defect in product or
less availability of resources convincing the customer maybe the rightthing to do first or else such action must be done which can causeminimum wastage or loss to firm and also which does not effectcompanys reputation
o Personnel
Leading and supporting the Demand Management team.
Motivate the employees you are responsible for. Help them thrive in a
challenging work environment.
Understanding the full scope of the Demand Management process.
Ensuring that all your co-workers in projects understand and follow all
procedures they are involved with.
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RESEARCH MEHODOLOGY
This research is done specifically for the purpose of finding out solutions formanaging demand more properly in ftech enterprises ,so that customer orders
can be mate before the due date and order can be delivered to the customer
according to his specification and with required quantities
Ftech enterprises is a manufacturer of central air conditioning products ,it
deals with hybrid products which involves MTO,MTS,MTA and MTE scenarios
. MTO is one of the process which are difficult to manage.The company
manages the entire process of order receivable, producing goods and then
dispatching it partly through digitization and partly through papered
documentation
The forecasting method used by company is moving average method of time
series analysis which is more efficient method to carry out average of period
of 6 months or 3 months . The forecasting here done simply by an excel sheet
or by some calculation
The entire MTO process consists of the following process in this organisation
The customer places his order with required number of quantities along with
his specifications
The sales department receive this order in documented form then enters it in
software of the company(customized software ultimate J) .
sales department sends this list of order to production department
production department checks the date when the order is needed along with it
1month lead time is taken into account by the company which is told to the
customer
If the order is in stock then it is fulfilled according to the date of customer orelse lead time is taken into consideration. This buffer stock is maintained in
case of only few customers which are regularly ordering products from
company. This buffer stock is carried according to the moving average
method discussed before for that particular product
while the order is prepared the Quality control department keeps the track of
the quality of product
when the order is prepared the further transaction regarding the dispatch and
receiving the amount decided for the sale of product is done by accountsdepartment
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TYPE OF RESEARCH
This research is said to be pure research as this involves testing and
developing theories and hypothesis
OBJECTIVE
From the viewpoint of objectives, this research is said to be Exploratory
researchExploratory research is undertaken to explore an area where little is known ortoinvestigate the possibilities of undertaking a particular research study
INQUIRY MODE
From the process adopted to find answer to research questions theapproach is said to be structured approach
Structured approach:The structured approach to inquiry is usually classified as quantitativeresearch.Here everything that forms the research process- objectives, design, sample,and thequestions that you plan to ask of respondents- is predetermined.
RESEARCH PROCESS
FORMULATING THE RESEARCH PROBLEM
Ftech enterprises does has an software which helps in fulfillment of entireprocess of order receiving , order producing and dispatching it before date thisentire process is done by various department such as sales ,production,quality control and accounting though this company has a software but theproblem is that the department are not still interconnected as sales andproduction department works on software which is JOB SHOP and accountingdepartment works on some other software and also many process in this 4department are done manually instead knowing that this processes can stillbe digitiseAlso the company is using moving average forecasting method which is not
best suited for organisation which involves MTO productsThere are no necessary preventive measures taken in case if companiesquality found to be defectiveThere may be also case where the order cant be mate before the date which
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was decided for the fulfillment of the order
FORMULATION OF OBJECTIVE
The main focus of conducting this research is to fulfill the customerrequirement within the time with the same specification and high class qualityFor this the demand management process needs to be strongThis can be done if the paperless work concept comes into existenceThere should be a software that can help in planning the material, manpowerand system requirement for the fulfillment of customers order within the timeand with required specificationAlso new forecasting method need to be taken into consideration
IDENTIFYING VARIABLE
Here the identifying variable must be a organisation which has record offulfilling the customers order before time with high class quality and with
decided quantity
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HYPOTHESIS
Paperless work in ftech enterprises can lead to improvement in demandmanagement
As ftech enterprises deals with more of MTO products . The organisationshould follow the concept of paperless work,that also suggest us about moreof digitisation by the means of software which integrates all the department sothat departments can get updated information whenever any order is placed.Most of the operations in ftech enterprises are partly manual and partly
digitise.many a times it becomes difficult to retrieve information regarding the pastorders because it was done manually this causes wastage of time. So thenew customisation software which the company is going to undertake mustinclude such a features thatthe data retrival becomes much simpler so that any past orders transactioncan easily be retrivedalso the new system must consist of a function which can automaticallycalculate how much of production needs to be done daily to make the orderready before the due datethe system must also have a functions which can help to calculate the
manpower required , equipments required and also the material required tocarry out the process
DATA COLLECTION
The data collected here is primary data which is collected for the first time forthe purpose of fulfilling the requirement of this project
METHODS FOR COLLECTING PRIMARY DATA
INTERVIEWINGPersonally went to production department ask them the production flowWent to the sales department inquired about the flowAlso went to quality control department asked them about measures taken forinspecting the quality
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DISCUSSION WITH MEMBERS OF ORGANISATION
Ftech enterprises is a manufacturer of Air conditioning product. This companymainly deals with on service demand which is MTO (make to order) industry.
Many companies orders product from Ftech enterprises. Among them is L&T.
L&T order around 20 products. To give a suitable example. We can say L&T
orders a product called as Fork. The company accepts the order and fulfills
their requirements and provide them timely delivery of product. For providing
timely delivery Sachin Impex uses a strategy of keeping readymade stock. As
L&T orders this product called as Fork every month. Thus company knows
their requirement and prepares and stores the product. On 1st April Ftech
enterprises calculates the total company stock and also average of 6 monthsof order from L&T is taken out to carry out avgstock which would be required
to know the companies requirement in advance. Basically this helps in
preparing a buffer stock.
PROBLEM 1:
Some product from L&T require more oil as they are oil based. So if this oil
level is not maintain. Then the product becomes rusty and some of the
products contain plating so till the time it reaches L&T the product becomes
rusty.
How it is tackled?
The company orders a sample of rusty item from L&T.
Analyze that product.
Quality and control does the procedure of preventive and corrective action.
And if the company is faulty then they replaces the defective product.
But if the company finds that its not their fault then they discuss it with L&T
and further L&T may be responsible if company product is not faulty.
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PROBLEM 2:
Delay sometime occurs due to less man power. Raw material shortage and if
material not available.
How it is tackled?
In this case the company convinces the other party by Interacting with them
and ensures them that they provide them their product if they will be given alittle more time.
PROBLEM 3:
The company also orders the products from other company which may be
required to make the product of L&T. Thus sometime the product such as coil
may be damaged from middle.
How it is tackled?
In this case company can replace the defective part and can use the product
in making final L&T product.
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OUTCOMES OF STUDY
Ftech enterprises is a well known SME deals with central air conditioningproductsIn this fast developing environment even a SME cannot survive withoutimplementing integrated system it has become a need for each and everyorganisationWhen technology comes lots of complex processes becomes simplerDemand management is a need for manufacturing firm because if notmanaged properly it can effect both profitability as well as credibilityIf customer backlog is formed company can take following actions to theextent of the problem
If the company is unable to meet demand of customer before decided datedue to any reason such as power failure,machine defect,breakdown ofmachineand less availability of material in market the company can tackle thatproblem byEither convincing the customer by tellin him the problem which the companyis facingIf the machine is breakdown then mechanic can be called immediately andgetting it repaired as soon as possibleIf it is not possible you can get it done by other companies in marketIf you are the alone provider and if the machine cannot be repaired but thecustomer is loyal to you and you want to fulfil his order any how then you
should buy a new machine because the one time loss is always better thanlosing ur credibility in market by loosing ypur valuable customers
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RECOMMENDATIONS
New customise software must include following function
A function which allows the drag and drop service which allowes you to assignyour worker to another job as soon as his 1st work is doneThe functions which can forecast the demand properly by the means ofmoving average methodThe software must be such that it can divide the production process intonumber of steps so that order can be easily comletedEach and every department must be link together so they can share therevaluable information with each other
Other suggestionThe production department must be given a system so that they can carry out
the daily production percentageAll the department must be link so that they can easily send email andvaluable information to each other instead of doing it manually
The material required which is forecasted must be used to be converted intoproducts instead waiting for order to be come
Forecasting technique which is used must be changed from moving averageto regression
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REFERENCES
en.wikipedia.org/wiki/Demand_forecasting
www.slideshare.net/yashpal01/demand-forecasting
www.economypedia.com/wiki/index.php?title=Demand_forecasting
www.manh.com/solutions/planning...forecasting/demand-forecasting
www.statsoft.com/textbook/demand-forecasting
http://www.itframeworks.org
http://www.slideshare.net/yashpal01/demand-forecastinghttp://www.slideshare.net/yashpal01/demand-forecastinghttp://www.slideshare.net/yashpal01/demand-forecastinghttp://www.slideshare.net/yashpal01/demand-forecastinghttp://www.slideshare.net/yashpal01/demand-forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.statsoft.com/textbook/demand-forecastinghttp://www.statsoft.com/textbook/demand-forecastinghttp://www.statsoft.com/textbook/demand-forecastinghttp://www.statsoft.com/textbook/demand-forecastinghttp://www.statsoft.com/textbook/demand-forecastinghttp://www.itframeworks.org/http://www.itframeworks.org/http://www.itframeworks.org/http://www.statsoft.com/textbook/demand-forecastinghttp://www.manh.com/solutions/planning...forecasting/demand-forecastinghttp://www.economypedia.com/wiki/index.php?title=Demand_forecastinghttp://www.slideshare.net/yashpal01/demand-forecasting -
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(First Page)
Summer Internship 2010
Daily Record Diary
Name of Student : FIRDOS AHMED SHAIKH
Roll No. : 043
Mobile No. : 9867933831
Name of Coordinator :
Name of Company : FTECH ENTERPRISES.
Address of Company : Gala No. 9/A,Egal Market,
90 Ft.Rd.,Next To Peninsula Hotel,
Sakinaka,Andheri (East),
Mumbai 400072.
Name of Authority ( Company) :
BESs Institute of Management and Research
10, Nesbit road, Mazgoan, Mumbai 400010
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Daily Record
Date:
Time In Time Out
Activities Performed:
Your Learning:
Signature of Authority: