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Baddi
Submitted by
Satish Kumar
Submitted to
Palampur
July 2018
Sai School of Management and Commerce Studies
CERTIFICATE
This is to certify that the Summer Training Report entitled “A Study on the
Working of Indo Farm Equipment Ltd. Baddi”, in partial fulfillment of the
requirements for the award of the Degree of Master of Business Administration is
a record of original training undergone by Satish kumar ( Reg. no.-617012053)
during the year 2018-19 of his study in the Department of Management and
Commerce Studies, SRI SAI University, Palampur under my supervision and the
report has not formed the basis for the award of any Degree/Fellowship or other
similar title to any candidate of any University.
Palampur
Countersigned
Guide
DECLARATION
I, Satish Kumar hereby declare that the Summer Training Report, entitled “A
Study on the Working of Indo Farm Equipment Ltd. Baddi” , submitted to the
SRI SAI University in partial fulfilment of the requirements for the award of the
Degree of Master of Business Administration is a record of original training
undergone by me during the period June-July 2018 under the supervision and
guidance of Your Guide name and designation, Department of Management and
Commerce Studies, SRI SAI University, Palampur and it has not formed the basis
for the award of any Degree/Fellowship or other similar title to any candidate of
any University.
Place: Palampur
Signature
Date:
ACKNOWLEDGEMENT
Satish Kumar
Certificate I
Company Certificate
Declaration
Acknowledgement
Contents
fI Introduction
II Company Profile
IV
V SWOT Analysis
Appendices
References
INTRODUCTION
Training Period:-
I completed the summer training program in Indo Farm Equipment Limited
during the period of 6th June 2018 to 18 July 2018.
INDUSTRY PROFILE
Automobile Industry in India The automobile industry in India is one of the larger
markets in the world and had previously been one of the fastest growing globally,
but is now seeing flat or negative growth rates. India's passenger car and
commercial vehicle manufacturing industry is the sixth largest in the world with
an annual production of more than 3.9 million units in 2011. According to recent
report, India overtook Brazil and became the sixth largest passenger vehicle
producer in the world beating old and new automobile makers as Belgium, United
Kingdom, Italy, Canada, Mexico, Russia, Spain, France, Brazil, grew 16 to 18 per
cent to sell around three million units in the course of 2011-12.In 2009, India
emerged as Asia's fourth largest exporter of passenger car after Japan, South
Korea, and Thailand. In 2010, India beat Thailand to become Asia's third largest
exporter of passenger cars. As of 2010, India is home to 40 million passenger
vehicles. More than 3.7 million automotive vehicles were produced in India in
2010 (an increase of 33.9%), making the country the second (after China) fastest
growing automobile market in the world in that year. According to the Society of
Indian Automobile Manufacturers, annual vehicle sales are projected to increase
to 4 million by 2015, no longer 5 million as previously projected.
History
Indian tractor industry developed in between 1945 to 1960 because of the war
surplus tractors and bulldozers were imported for cultivation and land reclamation
in mid 1940’s. In 1947 Central and state tractor organizations were set up to
develop and promote the supply and use of tractors in agriculture and up to 1960
the demand was met entirely through imports. In 1951 there were 8500 tractors in
use 20000 tractors in 1955 and 37000 by 1960. Local production began with five
manufacturers in 1961 producing a total of 880 units per year. Eicher, Gujrat
tractors, TAFE, Escorts, M&M are the major tractor manufacturers.
During 1965 this had increased to over 5000 units per year and the total in use had
risen to over 52000. In the year 1970 annual production had exceeded 20000 units
with over 146000 units working in the country. From 1971 to 1980 six new
manufacturers were well established during this period although three companies
(Kirloskar Tractors, Harsha Tractors and Pittie Tractors) did not survive. Escort
limited began local manufacture of Ford tractors in 1971 in collaboration with
Ford, UK. Others were HMT and PTL (SWARAJ) Total production climbed
steadily to 33000 in 1975 reaching 71000 by 1980. Credit facilities for farmers
continued to improve and the tractor market and thus the tractor market expanded
rapidly with the total in use passing the half million mark by 1980. From 1981 to
1990 a further five manufactured began production (Auto Tractors, Asian
Tractors, VST Tillers) during this period but only last one survived in the
increasingly competitive market place. Annual production exceeded 75000 units
by 1985 and reached 140000 in 1990 when the total in use was about 1.2 million.
Then India – a net importer up to the mid-seventies became an exporter in the
80’s mainly to countries in Africa between 1991 to1997.
Since 1992 it has not been necessary to obtain an industrial license for tractor
manufacture in India. By 1997 annual production exceeded 255000 units and the
national tractor park had passed the two million mark. India has now emerged as
one of the world leaders in wheeled tractor production. Saturation achieved in
Punjab with tractor density as high as 82 per 1000 against Indian average of 12.4,
world average of 17.4 and 32.1 in developed countries. Intense competition has
led to rapid advances in design and quality.
Market capitalization
Tractor market in India is about Rs 6000 crore. On an average around 400000
tractors are produced and their sale is 260000. Uttar Pradesh is the largest tractor
market in our country. One out of every four tractor is being purchased here.
One third of the world’s Tractor production is in India. The total turnover is 1000
crore and the total investment is 8000 crore. With employment of 28000 people
directly and 150000 people indirectly the tractor population is 3000000 compared
to 9000000 in China.
EICHER-
In 1949, Eicher Good Earth was set up in India with technical collaboration with
Gebr. Eicher of Germany imported and sold about 1500 tractors in India. On 214
April 1959 Eicher came out with the first locally assembled tractor from its
Faridabad factory and in a period from 1965 to 1974 became the first fully
manufactured (100% indigenization) tractor in India. In December 1987 Eicher
Tractors went public and in June 2005 Eicher Motors Limited sold Eicher
Tractors and engines.
ESCORT-
In 1960, Escorts set up the strategic Agri Machinery Group (AMG) to venture
into tractors. In 1965, they rolled out their first batch of tractors under the brand
name of Escort. In 1969, a separate company, Escorts Tractors Ltd., was
established with equity participation of Ford Motor Co., Basil don, UK for the
manufacture of Ford agricultural tractors in India. In the year 1996 Escorts
Tractors Ltd. formally merged with the parent company, Escorts Ltd.
Technologies- Escorts AMG has three recognized and well-accepted tractor
brands, which are on distinct and separate technology platforms.
STANDARD-
Standard began building tractors in Barnala Punjab, India. In Standard tractors are
being manufactured in the range of 35 to 75 HP with respective model names:
Standard 335, Standard 345, Standard 450, Standard 460, and Standard 475
Engines for all these tractor models, except the last 475, are manufactured within
the plant as ‘Standard Engines’, in specific names – SE 335, SE 345, SE 450 and
SE 460, respectively. All the above-mentioned models of Standard engines have
shown compliance to the TREM-III emission norms, as have been verified by the
ARAI. However, two new variants of tractor of 35hp (Standard 335-I) and 45hp
(Standard 345-I), equipped with famous Perkins engines (assembled within the
Standard Tractors plant), and two completely new models of tractor of 30hp
(Standard 330) and 40hp (Standard 340) are on the verge to be launched. Besides
these, three 3-wheelers (two passenger-carriers and one cargo), one 4-wheeler
(cargo), a crane, an electric 3-wheeled mini-car, and two 2-wheelers (scooters) are
either in the process of development or on the verge of launch from the Standard
Tractor division.
JOHN DEERE
Deere & Company, founded in 1837 (collectively called John Deere), has grown
from a one-man blacksmith shop into a corporation that today does business
around the world and employs approximately 56,000 people. The company
continues to be guided, as it has been since its beginning, by the core values
exhibited by its founder: integrity, quality, commitment and innovation. To
expand its global presence in Agricultural equipment, John Deere established the
India Tractor business in 1997 under a ‘50:50’ joint venture with Larsen &
Toubro Limited (L&T). In 2005, John Deere acquired the remaining shares in the
joint venture. The India Tractor business includes a fully integrated
manufacturing facility with three focus factories - Engine, Transmission and
Vehicle Assembly. Spread over 112 acres with 50,000 m2 of covered area at
Sanaswadi, Pune, it produces modern tractors from 35 to 70 HP for both domestic
and international markets. These include North & South America, Europe and
South East Asia where they have earned a reputation for quality.
International Tractors Limited was incorporate on October 17, 1995 for the
manufacture of Tractors and has since then built a distinct position for itself in the
Tractor industry. ITL is manufacturing various Tractors of Sonalika brand
between 30 H.P to 90 H.P, and CLASS brand between 70 hp to 90hp. The tractors
manufactured by company have secured a reputation of performance, quality and
reliability in the market because of their maximum pulling power, minimum fuel
consumption and low emission. All this makes ITL one of the top five tractor
selling companies in India. These tractors are also exported to various countries
including South Africa, Australia, Zimbabwe, Sri Lanka, Canada, Bangladesh,
Algeria, Zambia, Senegal, Ghana etc.
COMPANY PROFILE
HISTORY
PLANT-
Company have state of the art foundry unit which is equipped with induction
furnaces, automatic molding line, pneumatic molding machines, sand plant fully
equipped with metallurgy and sand testing laboratory. Existing capacity of casting
division is 6000 tons/annum and area covered by this division are approx 5 acres,
helping the company for better quality for critical castings. Faster adaptation of
production cycles to meet the market demand, reduced inventories, Company
aims to serve as OEMs to other automobile manufacturers in future.
Vision and Mission
VISION
To offer high quality multi-featured fuel efficient agricultural equipment are
Industrial and construction machinery at optimum cost and deliver world class
performance, backed by excellent after-sales service.
MISSION
Company always focuses on gaining a leading market share globally by providing
dealers and customers with largest choice of unique world class products and
services.
MANAGEMENT
Managed by the professional team of managers and having rich experience in the
fields of design quality, development, manufacturing and marketing from the auto
Industry.
International Footprints
Indo Farm Equipment Limited is based in India with a global footprint across
more than 40 countries. Indo Farm products are marketed under the brand names
“INDO FARM” and “INDO POWER”.
Indo Farm Equipment Limited, India's Fastest growing Tractor, Crane, Generator
and Engines Manufacturing Company has shown tremendous growth in
International Markets by expanding its wings in all major agriculture markets of
the world. Indo Farm Equipment limited has already launched its new range of
products in Europe, Africa, North and South America and Asia.
The company has expanded its International Portfolio by adding new products
like Harvester Combine, Silent Generators to its existing product range of
Tractors and Pick and Carry Cranes.
Network
The network of the company is widely established to cover all the regions. For the
easy functionality and better service to its customers the company operates
through 13 regional offices. Furthermore there is a widespread network of
company’s dealers to maximize the sales and to provide service of their tractors
easily to the customers. Marketing team of Indo Farm consists of marketing
professionals and 400 plus dealers work together with the team of service
engineers to provide best service to our customers across the length and breadth
of the country. This wide network is constantly expanding to cover the entire
remaining region. To achieve the true meaning of globalization the company has
launched its various products in the market of Nepal. Furthermore the technical
specialist and spare parts specialist of the company are always there to solve any
problem of the customer making it the best service provider.
DEPARTMENTS
STD operates through a series of departments, which can be broadly classified
into:
1. Management
i. HR
ii. Finance
iii. Marketing
1. Production
i. Machine shop
ii. Assembly shop
iii. Heat treatment shop
iv. Paint shop
v. Material Testing Lab.
3. Support services
i. Engg. Department
ii. Research & Development
iii. stores
iv. Quality Control.
v. Maintenance
vi. SPD (Spare Part Division)
Plant Head
1. TRACTORS
1 Series In series one, Indo Farm have two type of tractor models
(1022and1026) of 22HP and 26HP both are Four Wheel Drive.
2 Series In series 2, There are three model-2030DI, 2035DI, 2042DI,
Of 34HP, 38HP and 45HP respectively.
IP Series In IP Series there are 15 Models all of them are 2 Wheel Drive.
INDO POWER-9 & 11T (28 feet height)
INDO POWER-12AV (Height 29, 36, 42 feet height)
INDO POWER-14 (Height 29, 30, 36, 42, 55 feet)
INDO POWER-16 (Height 65 feet and 55 feet)
INDO POWER-18 (Height 65 feet)
INDO POWER-26 (63 and 75 feet height)
ACTIVITIES OF VARIOUS DEPARTMENTS
There are following various departments in the Indo Farm Equipment Ltd.:
1. Human resource
2. Finance
3. Marketing
4. production
5. Research and Development
6. Q.A.
7. SCM (Supply chain management)
8. Spare part Division (S.P.D.)
9. Store
1. HUMAN RESOURCES:
HR department is the most important in an organization. Human resource should
be managed properly.
Personal Functions
1. Manpower planning
2. Ensuring optimum use to human resource employed.
3. Determining further recruitment level.
4. Forecasting future requirements of skill needs and training needs.
Recruitment
Recruitment is the process of finding right person at right time and stimulating
them to apply for job in the organization. Recruitment in Indo farm is carried
out based on departmental requirements.
Introduction
1. 3-4 days induction program is conducted for the newly selected employees
2. 2 weeks classroom and on the job training is conducted by HR and Head
of the Department’s
3. During the induction program the company policies, rules and regulations,
plant overview, job overview are explained to the employees
4. The introduction helps the employees to gain information on the company
and the operation carried out.
Training
1. Annual training plan is prepared and conducted throughout the plan
2. Training conducted for the employees at all levels
3. After training, the effectiveness analysis is conducted
4. Different trainings are conducted are-
i. Orientation training
ii. On the job training
iii. External training
iv. Internal training
5. Pre training test and after training tests are conducted to measure the
effectiveness of the training.
IR (Industrial Relations)
1. HR plays an important role to maintain good relationship between the
employees and the departmental heads.
2. Frequent meetings are conducted between the HOD and the employees
3. Monthly departmental review meeting is also conducted to make the
employees aware of the departmental performances.
Grievance handling
1. Grievance handling is done by HR department and the associated
departmental heads. Employee grievance is given greater importance in
company; immediate action will be taken in case of grievance.
Separation
1. Notice period of one month through mail to HR or HOD’s
2. HOD’s decides to accept or reject the resignation
3. If accepted then HR sends the acceptance note to employee
4. An employee has to take clearance from admin/HR, finance dept. Then
submission of clearance form
5. Exit interview by HR or by head of the department
6. Experience, reliving letter on his last working day.
Attendance management
1. Attendance management of the employees is carried out by HR
department
2. Attendance of employees is taken through the punch system (through
fingerprint)
3. And manual attendance is taken for the contractual employees
The HR dept takes care of the statutory functions also-
1. Holidays calendar making
2. Remuneration/salary
All of the executives, workers/ operators earn salary on the last day of the month.
2. FINANCE DEPARTMENT
For smooth functioning of every organization proper management of money is
important. Only with the proper money management a firm can identify it
strength and weakness in the financial structure. The IFEL also give importance
to its financial department.
Planning of funds
Planning of funds is a careful estimate made by the manager about the total funds
required by the company. This is the estimate done by the observation over the
physical activities of company.
Allocation of funds
Providing funds to proper place at right time is also an important task to be done
by financial manger of the company. He firstly studies the cash requirements of
each department then funds are distributed.
Recording of transactions
Every transaction that takes place in the company has to be recorded properly for
better control over the funds and optimality. All the transactions are recorded in
journal and then posted in ledgers.
Cost control
The cost controlled either in the acquisition of raw materials, reduction in the
opening expenses or both, as there should be limitation in the utilization of funds.
Company will always have a comparison of budgets.
Inventories
Inventories are valued at lower cost. For this purpose the cost of bought out
inventories comprises of the purchase cost of items and bringing them to factory
on FIFO bases. The cost of manufactured inventories comprises the direct cost of
production and appropriate overheads.
Retirement benefits
Liabilities of gratuity for employees determined based on actual valuation as on
the balance sheet of the company, date is funded with the Life Insurance
Corporation of India and the contribution there of payable is absorbed in the
accounts. Liability for leave encashment benefits determined based on actuarial
valuation as on the balance sheet date is provided for in the account.
4. PRODUCTION DEPARTMENT
Production department is the major department in Indo Farm. It mainly handles
the production of Tractors and cranes. The main function of production
department is to manage the production of different products as per the
requirement and according to the schedule prepared by PPC (Production Plan and
control) department.
Casting division
In casting division metals are firstly cleaned to avoid any impurity in the mental
then molded in shape through high temperature furnaces. Large metal blocks (iron
etc.) are heated to high temperatures till they come in liquid state then filled into
molds then they are allowed to cool down to give them required shape.
Machine shop
In machine shop the parts from casting are washed to remove dirt etc. and this
shop the parts are made so that they can be used in assembly shop. It includes
making holes in the engine parts, polishing, finishing etc. according to the
requirement. The part number is generated of every part.
Assembly shop
In this shop the main work is done that is to assemble the different parts like
Tires, Steering wheel, Headlights, Engine every part is assembled here to form
finish goods. The flow process of assembly shop is follow-
After complete assembly the tractor is ready. Then it is sent to PDI (Pre delivery
Inspection) department for final testing so to ensure that the product is free from
any fault before handing over to the farmers. If any default is found then it is sent
back to production where it is resolved.
6. QUALITY ASSURANCE
The receiving inspection department of company checks for quality and
dimensions of incoming raw material from multiple vendors. Once the Goods
received note (GRN) is get issued by the store department to the incoming
material then the components are received and then some samples are sent for
inspection to inspection department.
Once the components are checked then they are accepted. The rejected materials
are kept in rejection section and then sent back to the supplier. On the bases of it
vendor ratings are prepared by supply chain department.
Functions
1. Order inventory
2. Store
3. Taking orders
4. Pick-pack order from SPD store
5. Dispatch
6. Takes records about material deficiency, material dispatch with material
details and dates etc.
7. To prepare MIS
Inventory ordering
Purchase order is send to the vendor it includes all information about the
requirement including price and quantity (Purchase orders are prepared in ERP’s
Indo farm uses SAP). Purchase order is of two types
i. One time P.O.
One time purchase order is prepared for urgent basis when the goods are needed
immediately. It includes part code and description.
ii. Regular P.O.
This regular purchase order is prepared for long term orders mainly for one year.
It also includes the schedule that describes at what time of the year the material is
required by the company (i.e. monthly requirement of parts).
9. STORE/ WAREHOUSE
The store department is for maintaining the stock of necessary parts/components
used for production. There are two types of stores in many production houses are
casting store where casting raw material that is associated with machine shop is
stored and component store where raw material needed in assembly shop is
stored. All the functioning is managed with the help of SAP.
Store process
When material entered into gate then the following steps are taken-
i. Gate inward of trailer
ii. Goods received by the management
iii. Samples of material is sent for quality check to Q.A. department
iv. After getting clearance from quality control the GRN (Goods
Received Note) is given by the Store department i.e. type of
permission that permits the supplier to unload the trailer/material
in the store.
v. Multiple copies of Invoices are issued for different departments
(i.e. one for accounts and one for store etc.)
vi. After storing components are inspected fully and stored, the
rejected components are kept to return back to the supplier.
vii. After storing the inventory level is updated in SAP.
SWOT ANALYSIS
SWOT analysis is the study to the limitations, and highlights the strengths,
weakness, opportunities and threats to the company. For every organization
SWOT analysis is the best tool to analyze their strengths weaknesses threats and
opportunities to the company helping management to take appropriate decisions.
Strength:-
Weakness:-
Opportunities:-
Threats: elements in the environment that could cause trouble for the business or
project are the threats for the business.
Strict observance of the companies Act and the financial instruments and
exchange Act
It should contribute to the healthy development and harmony of the local
community as a member through our daily activities.
FINDINGS
1. Quality product.
2. Nice working atmosphere for employees.
3. Lunch for every guest or visitor.
4. High attrition rates.
5. Shortage of helpers/workers.
6. Lack of advertisement and other promotional activities.
7. Employees are not awarded, if they work more than their capability (e.g.
star of the month award).
8. Majority of peoples working in are men.
9. Biometric is used to take attendance
10. Manufacturing unit is maintained well, clean and hygiene.
SUGGESTIONS
1. Time to time updated with new technology in the employees.
2. Time to time provide the training to the employees and workers.
3. There is a need to work on more advanced technology.
4. Should provide travelling facility to the workers as well.
5. There should have extracurricular activities than work.
CONCLUSION
From this training work done in Indo farm Equipment Ltd. the
respondents/farmers are satisfied with the Products of company. The reason
because high power and fuel efficient tractors. They are able to provide good
after sale services and are able to maintain good relation with customer.