A Project on Inventory Management

The necessity of effective inventory management is being increasingly realized in industrial and non-industrial organization both in India and abroad. This realization has come about because of increasing complexity of the task of managers and administrators. In most organization, the problem of effective inventory control is now viewed as the most critical problem with changes in social climate. While these can be great assets to the organizations, they become problems if the organization is not able to manage inventory properly.

Liquidity and profitability are the two vital aspects of corporate business. Any business cannot run without these two. A firm may run without profits for sometime; but with no liquidity, the firm cannot run their business. That is why management of inventory is an integral part of corporate planning in business life.

The proper inventory control system leads to an optimum utilization of resources. Idle materials are of a financial burden to the organization. Thus proper, inventory management directly assists in efficient functioning of the company. S.L. Goel says “takecare of the forest, the tree will take care of itself”, it should be the main motto of an inventory controller.

In inventory management, various methods and techniques can be adopted to control the inventory like, prompt maintenance of registrars, proper raw material arrangement, and fixation of various control levels and application of inventory control techniques and bin card system etc, which are relevant for inventory control in stores department.

Inventory management will help an organization in dealing with the supply of the raw materials and other activity in order to achieve the maximum co-ordination and optimum expenditure on materials to increase the profits of the firm. CLA‟s inventory control system is chosen for the study; by the investigator is no expectation in view of growing significance of the efficient control of inventories. Hence, the researcher was prompted to take up this topic.

Read More

A Project Report on Performance Appraisal in BSNL

Bharat Sanchar Nigam Limited (abbreviated BSNL) is an Indian state-owned telecommunications company headquartered in New Delhi. It was incorporated on 15 September 2000 and assumed the business of providing telecom services and network management from the erstwhile Central Government Departments of Telecom Services (DTS) and Telecom Operations (DTO) as of 1 October 2000 on a going-concern basis.

It is the largest provider of fixed telephony and broadband services with more than 60% market share, and is the fifth largest mobile telephony provider in India. However, in recent years, the company's revenues and market share have plummeted resulting in heavy losses as a result of intense competition in the privatizing Indian telecommunications sector. BSNL is India's oldest communication service provider and had a customer base of 93.29 million as of June 2015. It has footprints throughout India, except for Mumbai and New Delhi, where telecommunicatons are managed by Mahanagar Telephone Nigam (MTNL).

BSNL Mobile is a major provider of GSM cellular mobile services under the brand name Cellone. BSNL provides a complete telecom services solution to enterprise customers including MPLS, P2P and Internet leased lines. It provides fixedline services and landline using CDMA technology and its own extensive optical fiber network. BSNL provides Internet access services through dial-up connections as prepaid, NetOne as Postpaid and DataOne as BSNL Broadband.

BSNL offers value-added services such as Free Phone Service (FPH), India Telephone Card (Prepaid card), Account Card Calling (ACC), Virtual Private Network (VPN), Tele-voting, Premium Rate Service (PRM) and Universal Access Number (UAN). BSNL also offers the IPTV which enables customers to watch television through the Internet and Voice and Video Over Internet Protocol (VVoIP). In 2007, BSNL announced plans to provide 5 million broadband connections and secured 80% of the INR 25 billion rural telephony project of the Government of India. On 20 March 2009, BSNL launched blackberry services across India. BSNL paid Rs. 101.87 billion for 3G spectrum in 2010. As of 2011, BSNL offered coverage in over 800 cities across India. BSNL launched in 2012 a 3G wireless pocket-sized router called Winknet Mf50. BSNL 3G provides HSPA+ service with a top speed of 21.1 Mbit/s downlink and 5.76 Mbit/s uplink.

Read More

A Study On Performance Appraisal System

Once upon a time there were two beekeepers that each had a beehive. The beekeepers worked for a company called Bees, Inc. The company's customers loved its honey and demand for the product was increasing. So Bees, Inc. assigned each beekeeper a goal for increased honey production. The beekeepers had different ideas about how to meet their goal and designed different approaches to improve the performance of their hives.

The first beekeeper established a bee performance management approach that measured the number of flowers each bee visited. At considerable cost to the beekeeper, an extensive measurement system was created to count the flowers each bee visited. He also provided feedback to each bee at mid-season on his individual performance. He also created special awards for the bees who visited the most number of flowers. However, the bees were never told about the hive's goal to produce more honey so that the company could increase honey sales.

The second beekeeper also established a bee performance management approach but this approach communicated to each bee the goal of the hive for increased honey production. The beekeeper and his bees measured two aspects of their performance the amount of nectar each bee brought back to the hive and the amount of honey the hive produced. The performance of each bee and the hive's overall performance were charted and posted on the hive's bulletin board for all the bees to see.

The beekeeper created a few awards for the bees that gathered the most nectar. But he also established a hive incentive program that rewarded each bee in the hive based on the hive's overall honey production the more honey produced, the more recognition each bee would receive.

At the end of the season, the beekeepers evaluated their approaches. The first beekeeper found that his hive had indeed increased the number of flowers visited ,but the amount of honey produced by the hive had dropped. The Queen Bee reported that because the bees were so busy trying to visit as many flowers as possible, they limited the amount of nectar they would carry so they could fly faster. Also, since only the top performers would be recognized, the bees felt they were competing against each other for awards. As a result, they would not share valuable information with each other that could have helped improve the performance of all the bees (like the location of the flower filled fields they'd spotted on the way back to the hive).

As the beekeeper handed out the awards to individual bees, unhappy buzzing was heard in the background. After all was said and done, one of the high performing bees told the beekeeper that if he had known that the real goal was to make more honey, he would have worked totally differently. The second beekeeper, however, had very different results. Because each bee in his hive was focused on the hive's goal of producing more honey.

This Bess had concentrated their efforts on gathering more nectar in order to produce more honey than ever before. The bees worked together to determine the highest nectar yielding flowers and to create quicker processes for depositing the nectar they had gathered. They also worked together to help increase the amount of nectar gathered by the poorer performers. Tile Queen Bee of this hive reported that the poor performers either improved their performance or transferred to hive No.1, because the hive had reached its goal. The beekeeper rewarded each bee his portion of the hive incentive. The keeper was also surprised to hear a loud, happy buzz and a jubilant flapping of wings as he rewarded the individual high-performing bees with special recognition.

Read More

A Study on Level of Job Satisfaction in Quality Dept Employees

Indian textile industry can be compared to a pyramid of ice floating in water. “Only one tenth of the pyramid is visible, in the form of large textile mills in the organized sector. The body of the textile pyramid consists of the decentralized power loom and hand loom sectors, which account for the bulk of India’s production. The base of the pyramid is the downstream apparel and household textile sectors. The entire pyramid employs about fifteen million (as in 2007, it was estimated 20 million) workers-most of whom work in small firms in the decentralized sector”. Indeed, the structure of the Indian textile industry is as varied and deep-rooted as is its reform, challenging and daunting Indian textile and clothing industry is the largest foreign exchange earner for the country, and employs over 20 million people, second only to agriculture. India cannot afford to let this industry grow sick.

That would be nothing short of a human tragedy. Until the era of globalization liberalization was launched at the opening of the current decade, the domestic market was a protected turf, and a seller’s market.

However, with the forces of globalization having been unleashed, and accentuated by the coming into force of the WTO in 1995, there is no looking back. The world has changed and is changing. In the borderless world, only the fittest would survive. Indian textile and clothing industry is beset with several shortcomings, in no small measure due to the lop-sided govt. policy in the post-1947 India.

But now it must change. It must change if it is not be blows away by the global market forces, both in the international market as well as by imports in the domestic territory.

And contrary to the common refrain of the industrialists in textile industry, the onus of infusing a refreshing change lies more on the industry (firms) than on the government. This is not to be little the significant role of a facilitator that govt alone can provide. But competitive strategy originates at the level of the firm.

No amount of macroeconomic change can make the firms in the industry competitive. The govt. must evolve a national policy, which can act as a general guideline for the firms to define their unique positioning strategy. Given the national environment, the firms must control their own destiny, or someone else will.

Read More

A Study on Derivatives Market in India

Among all the innovations that have flooded the international financial markets, financial derivatives occupy the driver's seat. These specialized instruments facilitate the shuffling and redistribution of the risks that an investor faces. Thus aids in the process of diversifying one’s portfolio. The volatility in the equity markets over the past years has resulted in greater use of equity derivatives. The volume of the exchange traded equity futures and options in most of the mature markets have seen a significant growth.

It goes beyond that the local derivative in the emerging markets have witnessed widespread use of the derivative instrument for a variety of reasons. This continuous growth and development by the emerging market participants has resulted in capital inflows as well as helped the investors in risk protection through hedging.

Derivatives trading commenced in India in June 2000 after SEBI granted the approval to this effect in May 2000. SEBI permitted the derivative trading on two stock exchanges, i.e. and BSE, and NSE, their clearing house/corporation to commence trading and settlement in approved derivative contracts. Begin with SEBI’s approved trading in index futures contracts based on S&P CNX Nifty Index and BSE-30 (Sensex) Index. This was followed by approval for trading in options based on these two indices and options on individual securities.

The trading in index options commenced in June 2001 and trading in options on individual securities would commence in July 2000. While trading in futures of individual stocks started from November 2001. In June 2003, SEBI and/RBI approved the trading on interest rate derivative instruments only in NSE. Introduced trading of interest rate futures contracts on June 24, 2003 on 91-day Notional T-Bills and 10-year Notional 6% coupon bearing as well as zero coupon Bonds. Futures and Options were also introduced on CNX IT Index in August 2003. The total exchange traded derivatives witnessed a value of Rs.5, 423, 333 million during 2002-03 as against Rs. 1,038,480 million during the preceding year. While NSE accounted for about 99.5% of total turnover, BSE accounted for less than 1% in2002-03.

The market witnessed higher trading levels from June 2001 with introduction of index options, and still higher volumes with the introduction of stock options in July 2001. In the year 2002 has been a remarkable year for the global derivatives market. This year witnessed NSE making huge strides and also moved upward in the global ranking. According to the Futures Industry Associations in the year 2002, NSE ranked 30th in the global futures and options volume, whereas it ranks 2nd in the world, in terms of stock futures.

Read More