Final Rep-2

Report on Summer Training and Inventory Management
OBJECTIVES OF STUDY
Merit Swiss Asian School Of Management, Ooty
1. OBJECTIVES OF STUDY
Following are the objectives of the study. 1.1. Primary. My primary objective behind this training is to know about all function of company and its all-different department in it. As I was assigned the project on inventory management, so study of each and every minor details related to inventory management is also my primary objective. This helps me to develop my knowledge regarding inventory management. 1.2. Secondary. My secondary objective of the training is to know application of management concept in practical field. Here, I have tried to relate management concept directly or indirectly. Besides this I have aimed to know how the company function and how liaison is maintain internally as well as externally, which type of communications network is effective and how the record in accounts department and other related department is maintained.
METHODOLOGY ADOPTED FOR DATA COLLECTION
2. METHODOLOGY ADOPTED FOR DATA COLLECTION.

To collect the data, below mention methodology are adopted by me: 2.1. Primary Data. I had collected the primary data in the following ways: 1. To collect the past data I studied and collected the past record, which are within the company like Balance sheet, Profit and Loss account and other statement. Most of the data I got from the annual report and plant performance report. 2. I used to liasioning with the financial staff of the company. 3. The guide in the organization as well as in the college faculties to collect the data guided me. 2.2. Secondary Data. I had collected the Secondary data in the following ways: 1. I collected the theoretical data from the reference books related to my topic of inventory management. 2. I had collected some of the data from the journals related to the fertilizers industries.
INTRODUCTION OF IFFCO
3. INTRODUCTION OF IFFCO.
3.1. History of IFFCO. During mid- sixties the Co-operative sector in India was responsible for distribution of 70 percentage of fertilizers consumed in the country. This Sector had adequate infrastructure to distribute fertilizers but had no production facilities of its own and hence dependent on public/private Sectors for supplies. To overcome this lacuna and to bridge the demand supply gap in the country, a new cooperative society was conceived to specifically cater to the requirements of farmers. It was a unique venture in which the farmers of the country through their own Co-operative Societies created this new institution to safeguard their interests. The number of co-operative societies associated with IFFCO has risen from 57 in 1967 to more than 36,000 now. Indian Farmers Fertilizer Co-operative Limited (IFFCO) was registered on November 3, 1967 as a Multi-unit Co-operative Society. On the enactment of the Multistate Cooperative Societies act 1984 & 2002, the Society is deemed to be registered as a Multistate Cooperative Society. The Society is primarily engaged in production and distribution of fertilizers. The byelaws of the Society provide a broad framework for the activities of IFFCO as a Cooperative Society. IFFCO commissioned ammonia - urea complex at Kalol and the NPK/DAP plant at Kandla both in the state of Gujarat in 1975. Ammonia - urea complex was set up at Phulpur in the state of Uttar Pradesh in 1981. The ammonia - urea unit at Aonla was commissioned in 1988. The annual installed capacity of all the plants was 1.62 million tonne of Urea and NPK/DAP equivalent to 309 thousand tonne of phosphates. In 1993, IFFCO had drawn up major expansion programs of all the four plants under overall aegis of IFFCO VISION 2000. The expansion projects at Aonla, Kalol and Phulpur have been completed on schedule. The latest feather in the cap of IFFCO was completion of Kandla Phase-II on 5th August 1999, which has heralded realizations of all the objectives set forth under VISION - 2000. As per the tradition of IFFCO the project was completed more than two months ahead of schedule. As a result of these expansion projects IFFCO's annual capacity has been increased to 3.69 million tonne of Urea and NPK/DAP equivalent to 825 thousand tonne of phosphates. With the successful realization of all the objectives of Vision 2000, IFFCO has emerged as a pioneer in international cooperative movement. A new path has been chalked out to
realize newer dreams and greater heights through Vision 2010, which is presently under implementation. The distribution of IFFCO's fertilizers is undertaken through over 36,000 co-operative societies. The entire activities of Distribution, Sales and Promotion are coordinated by Marketing Central Office (MKCO) at New Delhi assisted by the Marketing offices in the field. In addition, essential agro-inputs for crop production are made available to the farmers through a chain of 167 Farmers Service Centre (FSC). IFFCO obsessively nurtures its relations with farmers and undertakes a large number of agricultural extension activities for their benefit every year. At IFFCO, the thirst forever improving the services to farmers and member cooperatives is insatiable, commitment to quality is insurmountable and harnessing of mother earths' bounty to drive hunger away from India in an ecologically sustainable manner is the prime mission. All that IFFCO cherishes in exchange is an everlasting smile on the face of Indian Farmer who forms the moving spirit behind this mission. IFFCO, to day, is a leading player in India's fertilizers industry and is making substantial contribution to the efforts of Indian Government to increase food grain production in the country. 3.2.Investment of IFFCO in other Firms. IFFCO has started the joint venture in all below mention firms in India as well as in other country and all the detail regard all the joint venture of IFFCO: Industries Chimiques du Senegal (ICS). Industries Chimiques du Senegal (ICS) is producing Phosphoric Acid at Darou (Senegal) which IFFCO needs in producing the NPK/DAP. Its production capacity is 1.5 million TPA of Phosphoric acids. Its paid up capital as on 31st March, 2000 was Rs 6.5 billion out of which IFFCO's share was Rs 927.4 million i.e.14.32% of paid up capital. Indian consortium, consisting of Government of India, IFFCO & SPIC, entered into a long-term agreement with Industries Chimiques du Senegal (ICS) in March 1980. The agreement was for purchase of Phosphoric Acid by setting up a plant at Darou, Senegal. The plant with a capacity of 313000 TPA phosphoric acid started commercial production in February 1984. ICS had been consistently supplying phosphoric acid to
Kandla
unit
since
commencement
of
production.
Doubling of the capacity of the existing plant for production of an additional 313000 TPA was taken up at a total investment of US$ 250 million. IFFCO has committed to purchase the entire quantity of the acid that would be produced by the ICS expansion project. Oman India Fertilizer Project IFFCO and KRIBHCO have entered into a Joint Venture Agreement with Oman Oil Company (OOC), Oman for setting up of a Urea - Ammonia Fertilizer Plant at a Capital Cost of US$ 969 million, with a Debt: Equity Ratio of 2:1. The Fertilizer Plant would be located on the east coast of Oman, and have a capacity of producing 16.52 lakh MT of urea per annum and surplus Ammonia of 2.5 lakh MT per annum. Raw Material (Natural Gas) will be supplied by Omani Government under a long Term Gas Supply Agreement. Government of India will purchase entire Urea for 15 years under a Urea Off take Agreement. Surplus Ammonia will be purchased by IFFCO for 10 years under Ammonia Off take Agreement. The main project Agreements, Urea Off take (UOTA), Ammonia Off take (AOTA) and Gas supply (GSA) were signed on 29th May 2002. Other Project Agreements have been finalized amongst the Sponsors and the Arranging Banks. The Arranging Banks, a consortium of International Banks, appointed for arranging Debt finalized the financing arrangements for the Project. All the contracts leading to the Financial Closure for the Project have been executed. The zero date for the project was 15 August 2002. The construction of the Project will be completed in 35 months. IFFCO and National Commodity & Derivatives Exchange Limited IFFCO has picked up 12% stake in Commodity Exchange NCDEX recently. IFFCO's endeavor had always been to ensure that the farmers receive best quality fertilizer input at economical price. The present association facilitates enhancement in the scope of services for farmers wherein the farmers can realize higher prices, minimize risk and strive for reliable market conditions. With this new relationship, farmers & cooperatives will have a new platform floated by reputed national institutions to herald a new era in Indian agriculture. The on-line multi commodity exchange promoted by ICICI Bank Limited (ICICI Bank), Life Insurance Corporation of India (LIC), National Bank for Agriculture and
Rural Development (NABARD) and National Stock Exchange of India Limited (NSE). Punjab National Bank (PNB) and CRISIL Limited (formerly the Credit Rating Information Services of India Limited) by subscribing to the equity shares have joined the initial promoters as shareholders of the Exchange. NCDEX is a public limited company incorporated on April 23, 2003 under the Companies Act, 1956. It obtained its Certificate for Commencement of Business on May 9, 2003. It has commenced its operations on December 15, 2003. NCDEX has an independent Board of Directors and professionals not having any vested interest in commodity markets. It is committed to provide a world-class commodity exchange platform for market participants to trade in a wide spectrum of commodity derivatives driven by best global practices, professionalism and transparency. NCDEX currently facilitates trading of fifteen commodities - Gold, Silver, Soy Bean, Refined Soy Bean Oil, Rapeseed-Mustard Seed, Expeller Rapeseed-Mustard Seed Oil, RBD Palmolein, Crude Palm Oil, and Cotton - medium and long staple varieties, Pepper, Rubber, Jute Sacking, Chana and Guar Seeds. At subsequent phases trading in more commodities would be facilitated. IFFCO - Tokio General Insurance Company Limited (ITGI) IFFCO had done the amalgamation with the Tokio General Insurance Company Limited and started serving the insurance sector in India as well as in other countries. It involve in General Insurance Activity, its Corporate Office is situated at New Delhi. The total paid up capital of Tokio General Insurance Company Limited was Rs 1 billion as on 31st March 2001. Out of which IFFCO's share was Rs 510 million i.e. 51% of its paid up capital. Godavari Fertilizers & Chemicals Limited (GFCL) Godavari Fertilizers & Chemicals Limited (GFCL) is situated at Kakinada in Andhra Pradesh. It is producing NPK/DAP fertilisers; its production capacity in P2O5 terms is 1.5 million TPA. The paid up capital of Godavari Fertilizers & Chemicals Limited (GFCL) was Rs 320 million as on 31st March 2000. Out of which IFFCO's share was Rs 79.7 million-i.e.24.9% of its paid up capital.
Indian Potash Limited (IPL) Indian Potash Limited (IPL) mainly involve in activities like supply of imported potash as well as supply of imported fertilizers. The paid up capital of Indian Potash Limited (IPL) was Rs 95 million as on 31st March 2000. Out of which IFFCO's share was Rs 32.4 million i.e. 34% of its paid up capital. 3.3.Vision and mission of IFFCO. Vision Retain dominant position in Indian fertilizer sector, improving its position further by achieving sustainable and viable growth through excellence in all its activities and gearing itself to fulfill the diverse expectations of stockholders, customers, employees and society. Vision 2010 Attaining an annual turnover of Rs. 15000 crore by 2010. Installation of Ammonia and Urea plants including acquisition of fertilizer units. Backward integration to meet feedstock requirements such as Phosphoric acid Generation of Power. Exploration/distribution of hydrocarbons Production and marketing of micronutrients, seeds, bio-fertilizers, pesticide etc. Value addition to agricultural-products and marketing Banking and financial services. Information technology and IT enabled services Mission IFFCOs mission spans the globe because our commitment knows no bounds. To acquire, assimilate, and adopt reliable, efficient and cost effective techniques. Sourcing raw materials for production of the phosphate fertilizers at the economic cost by entering into joint ventures outside India. Commitment to social responsibilities for the sustainable development.
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Commitment to health, safety, environment and forestry development to enrich the quality of community life. Building a value driven organization with and improved and responsive customer focus. A true commitment to transparency, accountability and integrity in principle and practice. A true cooperative society committed for fostering cooperative movement in the country. Emerging as a dynamic organization, focusing on strategic strengths, seizing opportunities for generating and building upon past success, enhancing earning to maximize the shareholders value. Future plans It is the plan for investing one billion. A state of the art phosphoric acid plant in Egypt with an installed capacity of 5 lakh tones P2O5 tones per annum. The project would be executed through a JointVenture Company with the equity association of El Nasr Mining Co. (ENMC) of Egypt as a JV partner. IFFCO would hold the majority equity with over 75% along with management control while the Egyptian counter part ENMC would pitch in with balance equity in the JV. ENMC will supply Rock Phosphate for the project and IFFCO will buy the entire phosphoric acid. This will lend stability to the international prices of phosphoric acid. A second Phosphoric Acid Plant in Kutch district, Gujarat with a capacity of five lakh tones P2O5 per annum will be set up. This Plant will be wholly owned by IFFCO. The two Phosphoric Acid plants are being executed as part of IFFCOs strategy to achieve backward integration vis--vis vital ingredients for its DAP production capacities. A DAP / NPK Plant, with a capacity of 18 lakh tonnes per annum will be set up in Kandla. The new facility with the latest know how will also be fully owned by IFFCO. IFFCO is in advance stage of negotiations with a Government entity in Egypt to undertake rock phosphate mining. This venture will involve production of 20 lakh
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tonnes of rock phosphate per annum to feed the phosphoric Acid Plant facility in India. The two phosphoric acid units, one DAP/NPK facility and rock phosphate mining will involve a total investment of US $ 800 million dollars. And, US $ 200 million is being invested in IFFCOs energy saving and expansion scheme. This will, eventually, result in subsidy savings worth Rs.800 crore per annum as the production costs of Urea would be pruned substantially. IFFCO is targeting a debt equity ratio of 2:1 for the US $ 1 billion business plan. Negotiations have commenced with both domestic, foreign banks and financial institutions to tie-up the debt funds for the green field projects. About US $ 670 million will be raised in debt and the rest US $ 330 million would be mopped up towards equity. Financial closure for all its new projects would be completed during this fiscal. Commercial production will commence in the first quarter of 2009. 3.4.Approach and commitments of IFFCO. Approach To achieve our mission, IFFCO as a cooperative society, undertakes several activities covering a broad spectrum of areas to promote welfare of member cooperatives and farmers. The activities envisage to be covered are exhaustively defined in IFFCOs Byelaws. Commitment Our thirst for ever improving the services to farmers and member co-operatives is insatiable, commitment to quality is insurmountable and harnessing of mother earths' bounty to drive hunger away from India in an ecologically sustainable manner is the prime mission All that IFFCO cherishes in exchange is an everlasting smile on the face of Indian Farmer who forms the moving spirit behind this mission. 3.5.Achievements of IFFCO.
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1 Safety Awards from the National Safety Council U.S.A. 1998. Industrial leader award exemplary safety achievement attained in the Prefect record award for establishing a new best record for standard chemical and allied products industry for the year 1998. industrial classification code: 2874 agricultural chemical for operating 9930227 employee hours without a death on case involving days away from work from 30th November 1995 to 31st December 1999. Industry leader award for exemplary safety achievement attained in the chemical and allied products industry for the year 1996. 2 Safety Awards from the Government of India. Special commendation certificate from meritorious performance in Perfect record Award for operating 7486565 employees hours without death or case involving days away from work 13th November 1995 to 31st December.
industrial safety during the year 1994 for achieving longest accident free period. 3 Safety Awards from Gujarat Safety Council. Certificate of honour in-group B, category I for working three million men Runner up and certificate of honour in-group B category I for lowest Certificate of Honour to Kandla and Kalol units for year 2003 from Gujarat
hour and above without loss time accident for the year 1998. disability injury index for the year 1998. Safety Council 4 Performance Awards from Fertilizer Association of India (FIA). Best overall performance award 1998-99, award for excellence in safety for Best overall performance runners up award 2003-04, from fertiliser the year 1999-2000. association of India. 5 Award from Hewitt Associates.
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Best Managed Workforce Award for year 2004 from Hewitt Associates.
3.6.Market share of IFFCO. S.R. NO. 1 2 3 4 COMPETITORS IFFCO KRIBHCO GNFC OTHERS Total MARKET CAPTURED IN% 50 24 21 05 100
MARKET CAPTURED BY IFFCO

OTHERS 5% GNFC 21% IFFCO 50% KRIBHCO 24%
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3.7. Financial Highlight of the IFFCO. Particular

Operating Results Sales Subsidy from Govt. Turnover Other Revenue Total Income Cost of Sales Profit before Dep. Int. & I. Tax (PBDIT) Interest Depreciation Profit before Tax (PBT) Tax Profit after Tax (PAT) Dividend Cooperatives Education Fund Donation Retained Profit Sources And Application of Fund Sources of Funds Equity Share Capital Reserves & Surplus Net Worth Borrowing - Long Term Short Term Deferred Trade Tax Deferred Tax Liability Funds Employed Application of Funds Net Fixed Asset (Incl. Capital Work-inProgress) Investments Current Assets Current Liabilities Net Current Assets Miscellaneous Expenditure (To the Extent not written off)
2004-05 409760 312643 722403 26819 749222 681969 67253 3402 16759 47092 15128 31964 8392 298 25 23249
2003-04 375339 216618 591957 27236 619193 545409 73784 4112 18402 51270 18303 32967 8016 252 115 24584
2002-03 353563 255551 609114 24566 633680 525719 107961 11200 16052 80709 24988 55721 8633 556 125 46407
2001-02 310764 198644 509408 23998 533406 463435 69971 15939 15917 39115 6277 30838 8382 307 155 21994
2000-01 304849 210341 515190 18235 533425 469590 63835 24749 15686 23400 292 23108 5013 217 1245 16633
42131 287984 330115 53310 11399 42125 436949
46190 264768 310958 89000 10393 42543 452894
44449 282902 327351 98452 8879 434682
41984 236593 278577 32131 80814 6865 398387
41857 214680 256537 67520 88876 4979 417912
216062 69073 260398 110484 149914 1900
217228 69508 256402 90244 166158
224651 44222 267441 101632 165809
236224 26622 214407 78866 135541
245277 26622 222159 76146 146013
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Net Assets Employed
436949
452894
434682
398387
417912
3.8. Performance Highlight of IFFCO in 2004-05.
Highest Production of Fertilizers Highest Production of Urea Highest Production of NPK/DAP Highest Sales of Fertilizers Sales of Urea Highest Sales of NPK/DAP Profit Before Tax Profit After Tax Highest Turnover Plant Productivity Marketing Productivity Lowest Product Inventory Lowest Composite Energy Consumption
61.54 lakh tones Previous Best 60.47 lakh tonne in 2002-03) 37.14 lakh tonne (Previous Best 36.85 lakh tonne in 2002-03) 24.40 lakh tonne (Previous Best 23.62 lakh tonne in 2002-03) 64.64 lakh tonne (Previous best 60.54 lakh tonne in 2003-04) 36.70 lakh tonne (Highest Sales of 37.02 lakh tonne in 2003-04) 27.94 lakh tonne (Previous best 23.52 lakh tonne in 2003-04) Rs.471.00 crore (Best PBT Rs.807.09 crore in 2002-03) Rs.320.00 crore (Best PAT Rs.557.21 crore in 2002-03) Rs.7224.00 crore (Previous best Rs.6091.14 crore in 2002-03) 1511 MT per head (Previous best 1367 MT in 2003-04) 3848 MT per head (Previous best 3345 MT in 2003-04) 4.26 lakh MT (Previous lowest 5.09 lakh MT in 2003-04) 6.138 Gcal/ MT (Previous lowest 6.14 Gcal/ MT in 2003-04)
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3.9.History of IFFCO Kandla Unit. IFFCOs NPK plant is located on the waterfront adjacent to Kandla Port Trust Oil Jetty. The plant was built at a cost of about Rs. 30 crores with two streams (called train A and train B) and with the licensed capacity of 127000 tonnes of P 2O5. This plant was designed by the M/s Door Oliver-Inc., to produced three grade of NPK based on DAP, the plant was commissioned on 26th November, 1974 and its commercial production started on 1st January, 1975. With increase in demand for complex fertilizers, the capacity of NPK has been doubled at a cost of about Rs. 28.6 crores. Two more streams (train C and train D) had been added with the increased licensed capacity from 127000 MT P2O5 to 260000 MT P2O5 per annum. The new two streams are called Kandla Phase 2 was completed one month ahead of the projected schedule. This is a rare phenomenon not only in India but also in entire South East Asian region. Kandla Phase 2 commissioned on 4th June 1981 with the production record for IFFCO. The production of Kandla Phase 2 was started from 6th September 1981. IFFCO went for expansion of their unit at Kandla in 1996-97. Kandla phase-II NPK/DAP project conceptualized the setting up of two additional streams (train E and train F) for manufacturing of the same grades of NPK/DAP fertilizers with an annual production capacity of 2,10,700 MTPA thus increasing the total capacity from 3,09,000 MTPA of P2O5 to 5,19,700 MTPA of P2O5. The actual cost of the project was Rs. 205.30 crores against a budgeted cost of Rs. 212.20 crores. The total annual production of the Kandla unit was 127000 MTPA as on 26th November, 1974 with two streams (train A and train B), which was increased by 182000 MTPA as on 6th September, 1981 by starting two more stream (train C and train D), which was further increase to 210700 MTPA as on 1999 by introducing two more streams (train E and train F). So currently the total production capacity of the both plant
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at Kandla unit is 519700 MTPA. Currently all six streams (train A, B, C, D, E and F) is working in its full-fledged capacity and giving its optimum output. In 1974 when the Kandla Unit was started IFFCO was importing its raw material with help of Kandla Port Trust Oil Jetty and currently Kandla unit has its own Liquid cargo Jetty.
3.10.
Achievements of IFFCO Kandla Unit.
Nineteen Safety Awards from National Safety Council - U.S.A. Fourteen Safety Awards from the National Safety Council, Bombay, government of India. Twenty-six Safety Awards from Gujarat Safety Council, Baroda. Six Fertilizers Association of India (FAI) Awards for the best overall production performance during the years 1981, 1982, 1996-97, 1997-98, 1998-99 & 2002-03. One National Productivity Council (NPC) Best Productivity Award for the year 1997-98 in the category of Fertilizers Industry - Phosphatic Sector presented in August'00. One Safety award from FAI for Excellence in Safety for 1999-2000. One Safety award from Directorate General Factory Advice Service & Labour Institutes, Ministry of Labor, Government of India Runner, National Safety award 1999. One Labour, Government of India Runner, National Safety award - 1999"
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3.12. Overview of Departments. There are following department in the Kandla unit of IFFCO: 3.12.1. Finance and Accounting. Finance and accounting department is divided into three sections at IFFCO Kandla unit which are mention below: Raw materials and Excise section. Payroll section. Store accounting section. This is one department with whom maximum coordination is required. It is responsible for allotment of working capital. It is responsible for all stores accounting. The accounts department arranges clearance of all inward and outward invoices. It arranges verification of stocks. It supplies material cost information and as well as cost of operation of stores service. Periodically it revises prices if stores held in stock. Here in Kandla Finance and Accounts department works jointly. In short, a day-to-day working relationship must be evolved between these departments. Following are the different types of function of Finance and accounting department of IFFCO Kandla. Budget compilation, monitoring & review. Financial concurrence. Cash & bank accounting. Purchase & stores accounting. Payroll.
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Matters related to custom, sales tax, and income tax etc. Maintaining accounting registers. Raw material accounting. Management reporting etc.
3.12.2 Personal and Administration. Personal and administration department look after the below mention functions of the IFFCO Kandla Unit. Staff transportation, buses/cars, shift schedules, payment of Processing application, inspection of properties etc. Placing indent for stationary, furniture/office equipment. Payment of Ground rent of the lands of IFFCO & records. Taking residential accommodation for CISF from Kandla Allotment of quarters in Township and maintaining of Allotment of quarters and jobs related to Kendriya Allotment of shops in shopping complex and its Arrangement of all functions at plant level. Activities related to Industrial Relation maintenance of Booking of Air/Rail tickets. Hiring of cars and other requirements for official gatherings Liaison with Govt. and local authorities. Maintenance of Buildings/Reception. Various other jobs assigned & above normal working. bills, insurance related jobs. Port Trust. related records. vidyalaya. correspondence. record etc. VIPs. 3.12.3 Systems.
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The Computerization activities at Kandla started in the year 1986 with the installation of at personal computer for production reporting. The system group was established in 1987 personnel computer were installed in each section in January 1990. Kandla unit have a super computer system involving in major organizational activities like payroll, Accounting, Inventory, and Procurement etc. are carried out through in-house development of Software. With a view to providing better technology, higher efficiency and productivity, KANDLA in establishing a Fiber Optic Based Network to connect all the PC to central Sun server and Window NT server. Networking Infrastructure Networks come in all shapes and sizes. Network administrators often classify networks according to geographical size. Networks of similar sizes have many similar characteristics, the most common are LAN and WAN.
At IFFCO following networks are used: LAN (Local Area Network): A Local area network is a group of computers and network communication devices interconnected within a geographically limited area, such as building or campus. A LAN tends so use only one type of transmission medium- cabling. LANs are characterized by the following: They transfer data at high speed. They exist in a limited geographical area. Their technology is generally less expensive. Some of the Features of the LAN at IFFCO At IFFCO, there is plant wide network of LAN. Which connect 20 different buildings all over the plant the cabling used for this network is majority Fiber optic and UPT CAT6. This clearly indicates the high-speed data transfer
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rates. The giga speed lucent fiber UTP CAT6 structured cabling has data transfer rate as high as 1000 MBPS. The network has an installed capacity of connecting 500 PC over Provision of connecting 500 PC nodes over LAN (it currently has 250 It used 9000 meters of optic fiber cabling and 30000 meters of UTP Network uses the latest central and departmental switch based LAN and presently having 250 PCs. PCs). CAT6 cabling. technology. The switch-based technology is used for better response in todays graphical software and application/environment. switches. Administration building (Central location) has dual central switches in The system department is the central location for all network activity. a clustering fail over mode. WAN (Wide Area Network): A wide area network interconnects LANs. A WAN may be located entirely within a state or country, or it may be interconnected around the world. WANs can be further classified into two categories: Enterprise WANs and Global WANs. An enterprise WAN is a WAN that connects the widely separated computer resources of a single organization. An organization with computer operations at several distant sites can employ an enterprise WAN to interconnect the sites. A global WAN interconnects network of several corporations or organizations. An example of global WAN is the Internet. E-mail and Internet Services It has distribution Star Topology. Twenty building have UTP cabling with departmental/work group
Data communication Video conferencing Connectivity between plant and township
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Software: A. Application software: Oracle RDBMS is mainly used at IFFCO. It is setup on the three environments for oracle database applications. 1. System. Oracle 3 tier architecture environment: Oracle application server version Web based environment. Lotus note domino R5 on windows NT 4.0 Operating System PCs have Lotus Notes Client R 4.5/5 on Windows 98 9i AS on window NT 4.0 operating systems. 2. E-mail software: Client-server environment: Oracle 8.1 version 8.a.7 database engine on Solaris 7 UNIX Operating
3. Office automation: Lotus smart suite on all 250 PCs PCs used by more than 450 PC users in exclusive/shared Environment Word pro, 123, Freelance Graphics etc. B. Hindi software: Leap from C-DAC. Used for Hindi word processing and e-mail Purpose. C. AutoCAD Software: AutoCAD R2002i on windows NT 4.0 work station operating system Extensively used by draftsmen Automation of drawing office related work
D. Application development: standardized application developed by other units and implemented at IFFCO Kandla. Applications developed in-house at IFFCO Kandla. There is also other software developed for Department for further facilitations: 1. Transportation System: 2. Materials management system: 3. Financial Accounting system: 4. Human resources management system (HRMS) etc. IFFCO is also establishing a corporate level wide are network linked trough 64kbps satellite at all unit, H.O. and Zonal office IFFCO Kandla will be benefited by this to facilitate faster communication among the unit ,H.O., Marketing office.
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3.12.4 Stores. Responsibilities of stores: Receiving of all incoming goods Inspection of all receipts Identification of all material stored Storage and preservation Material handling Issue and dispatch Maintenance of stock records Inventory control Stock taking 3.12.5 Purchase department. Responsibility for purchase function is on the in charge of Materials Department. The demand from various departments should give from issuing enquiries. The main purchase functions are as below: A registration of vendors/contractors. Requisition to purchase. Record and numbering or requisitioning. Enquiries/Invitation to bid. Time allowed for submission of bid. Validity of bid. Opening of bids. Late, invalid and unsolicited bids and EMD. Quotation Comparisons Statement (QCS) Tender Committee. Selection of successful Bidder. Signal tender. Negotiation. Rate Contracts. Purchase Order. Guarantees. 25
3.12.6 Transportation.
Amendment to purchase order. Extension of Delivery/ Completion time. Report Order.
Logistics or transportation department of any industry is a Bridge between Productions and Marketing without which neither marketing can survive nor production units. Therefore, transportation department is a lifeline not only to industries but also to any country throughout the world. There are two main functions of the transportation department: 1. 2. Operations Claims
1. Operations function: a. Road Dispatch: Road dispatches are carried out only in Gujarat and Rajasthan. This is due to the fact that many of the warehouses in these states are not situated closer to the rake points, which leads to increase in secondary movement and thus in costs. Damages and material handling costs are reduced in road dispatches. For road dispatches, annual contracts are given to transporters for which advertisement is placed in the newspaper, inviting the transporters to submit their bids. Different contractors are assigned for different locations. Around 25 trucks per day are dispatched from the plant with each truck carrying 10 metric tones. Material waste is about 0.03%. The cost in road dispatches is high as they charge a fixed cost based on the number of kilometers traveled. It is cheaper to use this means of transportation up to 300 Kilometers. Only 4% of the dispatches are by roads. b. Rail Dispatches: Kandla comes under western railway. There are identified rake points all over the country where the fertilizer are sent as per the dispatch instructions received from the head office. There are warehouses situated near the rake points where the fertilizers are off loaded. From the warehouses, the fertilizer is then transported to near by villages through secondary movement. Since railways are well connected to all the
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areas in India, transportation is cheaper and also due to fact that railways adopt a telescopic freight structure. More that 200 centers are covered in rail dispatches. Railway is bound to give 3 rakes per day to IFFCO on the On your wagon scheme. Each rake has a capacity to carry more than 2000 metric tones. Railways provide for as a contract between the note, which acts as contracts between the firm and the railways. 2. Claims: As a network of railways IFFCO contractors and courier services is jointly coordinating the activities. There are conflicts about financial aspects arising. Consider the case if the wagons with a definite number of bags are sent to the destination but the number of bags received is less than sent, then the claims section in the transportation department will come into play. There are two type of claims i.e. Refund and compensation. In refund money collected wrongly by Railway is demanded. However in compensation, extents of losses/damages are claimed. The two main types of claims are: 1. Tenable Claims: If today consignee doubts that the material or delivery arriving is not in proper condition by seeing wagons condition, broken seal or any other reason, then he will call the railway authorities and then in their presence they will open the wagons. If any loss in the quantity is there the railways are obliged to pay for the loss. This type of delivery taken is called Assessment or Open delivery. Sometimes wagons from the full rake on journey may be lost or any other reason for not reaching to the destination. Under this situation it is job of the transportation department to send railway the notice that the particular wagon has not arrived at the destination and ask them to make inquiry in the concerned matter. After sending the notice, if still not outcome comes then the transportation department will lay down claim for missing wagons to the railways. This type of claims should take place within six months from the sending of consignment. In material received is in damaged condition, and then the department can lay claim for damage to railway authorities based on negligence on railways part. But such kind of claim can only be made if open delivery has been taken and abnormal period of reaching the wagon at destination. 2. Untenable claim:
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So many times during the distributing purpose, there are losses, which cannot be claimed. For e.g. fertilizer being sent to destination in wagons in seals intact condition and still the bags delivered at destination is less in numbers. This type of shortages cannot be claimed. Under this situation, claims department will prepare untenable claim report and sent it to committee. The committee will review the claims. This committee comprises representatives from bagging/ transportation/ finance. After review, if it found satisfactory the committee will drop the claims. 3.12.7 Time office. Following are the functions of the time office in IFFCO Kandla. Maintaining the attendance records of all employees and marking Reporting to the accounts department the monthly staff in respect of Compiling the statistical report regarding employment and attendance, Issue attendance cards to the employees Maintaining all types of leave records of employees as per the Factories Rules/ standing orders /payments of wages etc. Maintaining records of overtime They also maintenance Temporary casual labour attendance records. Maintaining the attendance records of all employees and marking attendance, leave record etc. of workers. employees. etc. of workers for submission to various labour enactments and Head office.
requirements of Gujarat Government.
attendance, absence, leave etc. of workers. 3.12.8 Research and development. R & D Laboratory, at IFFCO Kandla, has taken up the work for development of new fertilizers like High Analysis Polyphosphate based liquid fertilizer, chloride free NPK, incorporation of Micronutrients in solid and liquid fertilizers. Cheated Micronutrients, colouring of NPK Fertilizers, alternatives of silica sand filler etc, and a brief write up of the projects is given below:
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High analysis Polyphosphate based liquid fertilizers Liquid fertilizers have become an important segment of the fertilizer industry in the developed as well as in developing countries due to their various advantages like: less pollution, good compatibility & versatility, carrier of micronutrients, pesticides & herbicides, along with uniform application of fertilizers. Polyphosphate based liquid fertilizers are still more useful as these type for fertilizers are slow release fertilizers. A process for producing liquid fertilizer was developed in R&D Laboratory, at IFFCO Kandla. The process involves the use of merchant grade phosphoric acid (5254 % P2O5), Urea and Ammonia. Merchant grade phosphoric acid and urea react to form Urea phosphate mother slurry. This slurry, on centrifugation, yields Urea phosphate & Urea phosphate mother liquor. Urea phosphate on pyrolysis produces Urea ammonium polyphosphate. The Urea-phosphate mother liquor is purified with ammonia to separate the metallic impurities. The purified mother liquor and pyrolysed urea phosphate were mixed to get liquid fertilizer. Final adjustment of grade is done with water and Ammonia. About 10 MT of liquid fertilizer NP 16:32 produced in our laboratory and sent to various agricultural institutions and in house facilities for feeler trails. The results received from various feeler trails indicate favorable supremacy of liquid fertilizers. A proposal for setting up of a 10 MT/day capacity pilot plant for liquid fertilizer is under study to meet the increase demand for this fertilizer. High analysis Chloride Free NPK Potassium is considered to be one of the major plant nutrients, which influence crop yields & quality. Major sources of potassium areas: Marinate of Potash (MOP) & Sulphate of Potash (SOP) or Potassium Sulphate. Generally potassium chloride (MOP) is used in agriculture due to its less cost as compared to potassium sulphate. Use of potassium sulphate is restricted due to its high cost and poor availability to chloride sensitive crops like FCV, tobacco, citrus fruits, potato etc. A process has been developed to produce chloride free NPK using MOP. Continuous use of chloride containing fertilizer increases the salinity and salt index of the soil and ultimately the crop yield and quality. The process for producing chloride free NPK uses the same raw materials like phos.acid, ammonia, and potash as are being used in our existing NPK plant. In this process, potash is admixed in phos.acid and ammonia. The ammoniated slurry is cooled, centrifuged, granulated and dried. The centrifuged cake contains potassium in
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chloride free form. The mother liquor is rich in chloride. Mother liquor is dried and sold as another fertilizer. About 5 MT of this fertilizer was manufactured and sent for agronomic studies. Results of agronomical studies are quite encouraging. Incorporation of Micronutrients In solid fertilizers: Studies were carried out for incorporating micronutrients like zinc, copper, iron, manganese boron & molybdenum in NPK fertilizers, zinc, copper, iron & manganese when incorporated in solid fertilizers (NPK) were not available in water-soluble form while boron and molybdenum were available in water soluble form after incorporation. It is observed that boron & molybdenum can be incorporated in NPK fertilizers. In liquid fertilizers: Studies were also carried for the incorporation of micronutrients in liquid fertilizers. The results shows that the maximum amount of micronutrients which can be incorporated in liquid fertilizer of grade NP 16:32 is as under: Zinc: 2%, Iron: 0.4%, Boron: 0.9%, and Molybdenum: 0.3 %. Manganese could not be incorporated as it gets precipitated. Zinc Chelate A process was developed for preparing zinc chelate containing 12 % zinc in liquid form. Further the zinc chelate does not contain any sodium ions but contains ammoniac nitrogen as micronutrients. Colouring of NPK/DAP fertilizers We are producing NPK fertilizer using phos.acid as one of the raw materials. Phos.acid is imported from various countries. The quality of phos.acid affects the quality of the product with respect to colour. To give an identity and marketability of IFFCO NPK fertilizers and to impart various colouring materials, this should be compatible for W.R. to storage and agronomic suitability. Work is in process for incorporating this on a commercial scale. Trials have also been conducted with products from various forms for economic & agronomic solubility for use on a commercial scale. Study regarding use of different filler materials in place of Silica Sand: IFFCO KANDLA is using silica sand as filler material to adjust the grades as per Fertilizer Control Order Specifications. Work was undertaken to study the feasibility of using various filler materials like Betonies, Phosphogypsum, Single Super phosphate or Sulphuric acid instead of silica sand. A Trial was also carried out in the running plants
30
using Bentonite partially replacing the filler feed. The positive and negative points of each were noted and further study is being done. 3.12.9 Production. IFFCO Kandla plant is located on the western bank of Kandla creek adjacent to Kandla Port Trust oil Jetties. The plants produce NPK/ DAP complex phosphatic fertilizers of various grades, namely NPK grades 10:26:26, 12:32:16 & DAP 18:46:00 in terms of N: P2O5: K2O. There are two NPK/DAP plants as I mention above in which there are totally six process streams. Plants are named as: 1. Plant-1 (NPK 1) 2. Plant-2 (NPK 2) The various type of Vessels, Equipments, Machineries, with Mechanical, Electrical devices are used in the manufacturing of fertilizer like NPK- 10:26:26, NPK 12:32:18, and DAP - 18:46:00. The raw materials are passed and processed through Pre-neutralizers, Granulators, Rotary Driers, Bucket elevators, Conveyors, Vibrating Screens, Pulverizes etc. and is produced final product at the end. The safety devices like plant trip in case of over load. process. Auto shut off valve, interlocking arrangement in case of Mal-function or equipment failure during the The various safety and handling instruments are provided and kept efficiently working. It can also be remotely operated from the control room. A number of cyclones are provided to collect and recover the dust generated at various points, thereby keeping the clean and polluting free environment. Dust escaping from the cyclone along with fumes from pre-neutralizer and granulator are scrubbed in scrubbers and diluted with phosphoric Acid. The effluent from the scrubber is consumed in pre-neutralizer. The process is unique in the sense that no liquid effluent is generated in the NPK Plant. It is a total recycle process. Nitrogen, Phosphorus and Potassium are primary nutrients for living plants. Here in the chemical fertilizer so produced, Phosphoric Acid is the source for Phosphorous, while Ammonia and Urea, which are the sources of nitrogen, muriate of potash is the source of potassium and filler is added, to balance the fertilizer composition.
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3.12.10. Product handling. Product handling is the main Department linking relation between the finished product and Transportation section. Whose main duty is of handling procedure of the finished product NPK/DAP produce from the plant K1 and K2 where it is produce to send the same in bulk storage and from bulk storage again to the Bagging section all that procedure is handled by the product-handling department. It is also their duty to make arrangement for necessary transport vehicle such as Truck, Railway Bogies for sending the NPK/DAP to various parts of country. They have to be in regular touch with the transportation department. After Making the arrangement for Necessary Transportation vehicles Railway Bogies and Trucks it is also there duty to Load the required Bags of NPK/DAP in to the bogies and trucks and at same time it there duty to seal the bogies with Bin card specifying the Grade type, Quantity loaded along with the authorized signature as a Proof. Product Storage:
BULK STORAGE
BULK STORAGE FOR K-1 (NPK) BULK STORAGE FOR K-2 (DAP)
Two covered storage silos for storing bulk fertilizer are available at Kandla unit, one is for KANDLA Phase -1 streams and the other is for Kandla expansion Phase- 2 steams. Each of these silos is has a capacity of storing 30000 MT of bulk fertilizer. The Kandla Phase-1 silo is divided into four equal compartments, while half of the Kandla Phase -2 silos consist of one compartment and the other half is divided into two equal areas. The silos ensures that the plant can continue in operation even when the product cannot be dispatched due to non availability of railway wagons and add to the operation flexibility of producing and bagging different grades of fertilizer. The product from bulk storage at phase-1 is reclaimed with semi portal scrapper loader at a rate of 125 MTPH and sent to the bagging plant by belt conveyor, while the semi portal scrapper loader at Phase-2 site can reclaim at rate of 250 MTPH
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Bagging: Bagging is an important section of product storage. It is process by which finished good is packed in various sizes. The bagging plant has a total of fourteen slat conveyors, thirteen of which are fitted each with two Nos. of microprocessor based semi automatic weighing machines and one stitching machine and each slat is capable of weighing and stitching at a rate of 900 bags per hr. One fully automatic weighing and bagging machine is also installed along with bag placer which has capacity of weighing and bagging at a rate of 1200 bags per hr. There are different signs of colours shown on bags for differentiating the grades of fertilizer like: Sr.No. 1. 2. 3. Fertilizer NPK 10:25:26 NPK 12:32:18 DAP 18:46:00 Sr.No. 1. 2. 3. Colour of strip on Bag Red Colour strip Green colour strip Green & Red colour strip Bags size 50 Kg. 40Kg. 25Kg.
The machines do automatic stitching of bags. The bags are reprocessed so no wastage of bags is seen in the department. There is lab analysis done for checking the bags and during inspection 26 pts related to different criteria are inspected. The workers working in this department are having a piece wage system. Space has been provided for storing more that 3 million empty bags in the bagging plant and the covered platform area can be used for stacking more than 5000 MT of bagged product. Bagged product is dispatched by road within the states of Gujarat & Rajasthan and by railway wagons to places all over the country. During bagging mainly 3 people are required to inspect the process. These persons are mainly from: 1. Marketing Department 2. Bagging Department 3. Representative of the contractor.
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These people are needed for signing the loading receipt and then the wagons or trucks are sealed. 3.12.11. Offsite/Utilities facilities. Kandla plant main and important sections are offsite. Offsite facilities refer to the storage facility for Ammonia, Potash, Urea, Filler, Phosphoric acid and other utilities like Fuel oil, Instrument air, Stream Generation plant, Power and Water. Raw Material Storage Ammonia Storage: The ammonia storage facility consists of two Nos. of Horton spheres each having a storage capacity of 1500 MT of hydrous liquid ammonia stored at a temperature of zero degree centigrade and at a pressure of 3.5dg/sq.cm G. Liquid ammonia from IFFCOs other units is received in rail tanker each having a capacity of 32 MT and is unloaded in the HARTON spheres. Vapor generated during the tankers unloading is directly fed to the plant. Atmospheric ammonia storage facility consists of three tanks having storage capacities as 5000 MT., 1000 MT. & 15000 MT. to store liquid ammonia at a temperature of minus 33 degree centigrade & at atmospheric pressure. Imported ammonia received in ships is stored in these tanks by pumping into an unloading line directly from the ship to each of the storage tanks. Storage & Handling of Potash, Urea & Filler. Imported potash in the form of crystalline potassium chloride is received in trucks and stored in a covered storage area which has a capacity to store 80000MT having facilities to unload and stack at a rebate of 278 MTPH and reclaim for use in the plant at a rate of 278 MTPH. Urea & Filler is stored area consisting of six bins, with trucks directly unloading into the bins, having a total storage capacity of 20000 MT with facilities to reclaim for use in the plant at a rate of 125 MTPH. At Kandla phase-2 Expansion plant site (E&F streams) a separate covered facility is constructed to store urea, filler, potash & seed consisting of DAP/NPK fertilizer. Half of the storage area is for potash storage while there are four bins for storage of urea, filler & seed. The total storage capacity is 8500 MT along with facilities to stack at a rate of 100 MTPH and reclaim at the rate of 200 MTPH. Storage & Handling of Phosphoric acid. Phosphoric acid is stored in eight vertical cylindrical rubber lined steel tanks having dimensions of 28 meters X 10.30meters (diameter X ht.). Each of them has capacity to
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store 10000 MT of wet process phosphoric acid having around 57% P2O5 content. Imported phosphoric acid received in ships is pumped from the ship to an unloading line going from the jetty to each of the storage tanks. Two of these storage tanks are located at the Kandla Phase- 2 Expansion Plan site. Each of the streams A & B, C & D, and E & F are having day thanks of capacity 1350 MT for storage of phosphoric acid at the plant battery limit. Utilities: Utilities section include to the look after the following Items: 1. Fuel Oil 2. Plant and Instrument Air. 3. Stream Generation Plant 4. Power 5. Water 6. Liquid Cargo Jetty. 3.12.12. Fire and safety. This sections main duty is to look after the safety of the employees working. As the plant consist of hazardous Raw Material Tank of Ammonia, Phosphoric Acid and also the diesel fuel tank and also there pipelines connecting the raw material tanks. Which can dangerously affect the health of the worker health working there due to leakage in the one to them? They also have to continuously be alert due to the possibility of fire, leakage in tanks or pipelines etc. to avoid any high destruction. They also at regular time publish Books, pamphlets and make arrangement for lecture in order to give safety guideless to worker working at plant. 3.12.13 Civil. Civil department is concern with the maintenance of the Build infrastructure at the plant. They regularly keep eye on the maintenance of the K1, K2 - plant, Bulk storage building, Administrative Building etc. If any destruction had been seen while ruining of the plant and management thinks that same is not bearable or management takes decision to make necessary changes in old infrastructure make some new addition is same then at same time role of Civil Department comes into play. 3.12.14. Mechanical maintenance.
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Maintenance looks after the maintenance of K-1, K-2 Plant. Maintenance work are carried out in order to increase the plant efficiency so that plant can run smoothly, effetely and they can utilized the full capacity of plant. Division of Maintenance Department is as follow: 1. Mechanical maintenance -1 Mechanical maintenance -2 2. Electrical maintenance Electrical maintenance -1 Electrical maintenance -2 3. Instrumental maintenance Instrumental maintenance -1 Instrumental maintenance 2 Regularly weekly programmers are prepared for plant maintenance and during the maintenance work going on plant are shut down for the period. Detail about the reasons for shout down of plants for maintenance purpose is given above. 3.12.15. CISF CISF main duty is look after the security of the plant. There are all over 33 people in this section shouldering the security of plant. Following are the functions of CISF: They have to look that any unknown person without any management permission letter cannot enter the plant premises. To make proper parking at parking area specified at plant. To allow the Trucks and other transport vehicles to enter and only after checking the proper Bills or management permission letter. To make sure that there is no theft of fertilizer due any reason for that they are given fully power of checking. 3.12.16. Training. There main duty is concern with providing the Training to employees to increase their efficiency and productivity at regular time. They also make arrangement for Mechanical maintenance
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seminar, presentation etc, by the well known person specialized in some sector to provide there guidance and suggestion to employees. They also make arrangement for personality development programs for there employees. As todays world we known that computer is the main part in today business world. So they also make arrangement for the weekly training programs for employees to guide them new computer programs which can reduce there work load and increase there efficiency. It is also there duty to look after the vocational and Appendix Trainees who come form various fields for experience purpose.
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INVENTORY MANAGEMENT
4. INVENTORY MANAGEMENT.
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4.1. Introduction of Inventory Management. Before going directly to inventory management I would like to mention the meaning of inventory and all different type of inventory. 4.1.1. Meaning: For better understanding of the technique of inventory control we have to firstly know the about what we mean by the term Inventory. Inventory basically means the stock of goods. It is the sum of the raw material, goods in production process, finished goods and the stock of stores materials. 4.1.2. Types: Following are the different types of the inventory, which the company generally holds. Raw material
A raw material is the goods, which are required to produce the product of the firm. Raw materials are the basic input of the production that is converted into finished goods after manufacturing process. Goods in production process These are the goods or inventories, which are under the production process, in other words we can say these goods as goods in process. In other words we can say that these are the semi-finished goods. They represent the products that need more work before they become finished products for sale. Finished goods Finished goods inventory are those completely, which are manufactured and ready to sale. Stock of raw material and work-in-progress facilitate production, while stock of finished goods is required for smooth marketing operation. Stock of stores materials Stock of store materials includes spare and tools. Spares mean the parts of the machinery and tools are the equipment, which is provided to the employees of the firm. These materials do not directly enter into production but it is essential for production process. So these four are the different type of inventory on which business depends. In any manufacturing unit inventory plays a major role because the major part of the cost of
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production is cost of inventory. In any fertilizers industry cost of raw material is one of the major elements accounting for almost 60%-70% of cost of production. Similarly stock of inventory is one of major item of the current assets where resources are blocked. It is essential to control holding of inventory and material cost in any manufacturing concern to achieve greater profitability for the organization. 4.2. Importance of Inventory Management. Following are the importance of the inventory management of in any organization: 1. As we all know that inventory plays a major role in any organization because major part of the working capital is spend on the inventories, so it is necessary for any firm to manage inventory. 2. 3. If the inventories of the firms are not maintain or manage It is necessary to have a proper analysis otherwise there than there may be a great loss for any firm, as the capital is blocked in it. huge block of the working capital in the inventories. 4.3. Needs for Holding Inventory Management. The question of managing and controlling inventories arises only when the company holds the inventories. Holding more inventories lead the firms towards more blockage of capital in it and if the holds less inventories then there is chance of shortage of inventories in production process as well as it incurred more carrying & ordering cost. Mainly there are three motives of holding inventories. 4.3.1. Transactions motive. A transactions motive emphasizes the need to maintain inventories to facilitate smooth production and sale operations. 4.3.2. Precautionary motive. Precautionary motive necessitates holding of inventories to guard against the risk of unpredictable changes in demand and supplies forces and other factors. 4.3.3. Speculative motive. Influences the decision to increase or reduce inventory levels to take advantage of price fluctuation. 4.4. Techniques of Inventory Management.
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4.4.1. ABC analysis. In ABC analysis, the entire goods in store are divided into three categories A, B and C. It is the most effective way of the inventory management most of the firms are adopting this technique. That is why ABC is also known as Always Better Control. How the goods are divided into three categories are mention below: 1. A category goods.
A category goods are high value goods which incurred maximum of cost of the total inventory cost. In IFFCO the which costing more than Rs. 50000/2. B category goods.
B category goods are those, which are costing betweew Rs 10000/- to Rs 50000/-. 3. C category goods.
C category goods are those, which are costing below Rs 10000/-
Details of ABC analysis.

ITEM PERCENTAGES ANNUAL USAGE VALUE
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CLASS ACC. TO ITEM A B C TOTAL 307 1063 30019 31389 1 3 96 100 (IN LAKHS) 578.19 630.66 965.21 2174.06
PERCENTAGES ACC. TO VALUE 27 29 44 100
% OF ABC ITEMS ACC.TO THE NO. OF ITEMS

96%
3%
1%
% OF ABC ITEMS ACC.TO VALUE OF ITEMS.
27% 44%
29%
A
Source: Stores department report 4.4.2. FSN analysis.
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Here in FSN technique all goods are categorized
into three category fast moving
goods, slow moving goods and non-moving goods. The rules of the FSN analysis may vary according companies norms. Below mention are the norms of FSN analysis of IFFCO: 1. 2. 3. Fast moving goods. Slow moving goods. Non-moving goods. Fast moving goods are those, which are used within three years Slow moving goods are those, which are used between three to five years. Non-moving goods are those, which are used since last five years. For FSN analysis the rules may varies according to company norm. In IFFCO norms of fast moving, slow moving and non-moving goods are the same as mention above. Below given is the FSN analysis of the A category items. FSN Analysis as on 30th June 2005.
Items Fast Moving Items Slow Moving Items Non Moving Items Total Number of Items (In Rs.) 228 41 6 275 % According to value 83 15 2 100
Source: Stores department report Note: The total number of item in A category are 307 but I had taken into consideration 275 items for FSN analysis because 32 items are Surplus and Obsolete items. 4.4.3. EOQ technique. EOQ stands for Economic Order Quantity. One of the major inventory management problems to be resolved is how much inventory should be added when inventory is replenished. If the firm is buying raw materials, it has to decide lot in which it has to be purchase and on every replenishment. If the firm is planning a product run, the issue is how much production to schedule (or how much to make). These problems are called order quantity problems, and the task of the firm is to determine the optimum or economic order quantity (or economic lot size).
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Determining an optimum inventory level involves two types of costs: (a.) Ordering cost Ordering cost includes all the costs, which are incurred while placing the order to the supplier. It includes the salaries of the purchase department and the salaries of tender committee. And all other cost like stationary, etc. (b.) Carrying cost. Carrying cost includes cost of transportation of raw material. It may be any way of transportation railway, airways, waterways and pipeline. In IFFCO most of raw materials are coming from another from ships. And some raw materials are coming by truck or trains. So the cost that is incurred in charges of train, trucks and ships are included in the carrying cost. It also includes the salaries/wages of all people that are involved in the process of unloading the goods/materials. 4.5. Inventory valuation system in IFFCO. 1) Raw materials are valued at lower of weighted average cost or net realizable value. 2) Stores and spares, Packing material, and Construction Material are valued at of weighted average cost. Item of stores and spares which are slow or non-moving are value at lower of cost or realizable vale based on technical based on technical estimation. 3) Finished goods and stock in process are valued at lower of cost or net realizable value. Damaged stock as identified by the management are valued at their estimate
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realizable valued. Closing stock of finished goods is net of transit and standardization losses. a) b) The cost of stock lying at plant is derived taking attributable expense Cost of stock lying at warehouses: In respect of manufactured urea covered by group concession scheme at incurred at factory.
cost of production after adjustment of contribution to /subsidy from fertilizer industry coordination committee (FICC). Imported Urea at procurement cost plus handling charges less remuneration Fertilizer whose prices have been de controlled by the Government of India. received from the government of India. c) Net realizable value: For stock of urea lying at plant, group concession price fixed by FICC. For stock of urea lying in warehouses, selling price fixed by government of India. For fertilizer whose prices have been decontrolled by the government of India and for imported fertilizer, the price prevalent on the date of balance sheet. 4) Stock of seeds and chemicals are valued at lower of weighted average cost or estimated realizable value. 5) Tools issued are written off over the period of three years. 6) Catalysts and Resins issued at the time of commissioning the plant and capitalized. Subsequent issues are charged to revenue on the basis of their estimated life. 4.6. Details of Inventory in IFFCO. Consumption of Inventories (In Lakh).
YEARS RAW MATERIALS STORES & SPARES 2000-01 2001-02 2002-03 2003-04 2004-05 327491.47 327608.16 393889.97 390579 497699.03 4193.13 5607.84 5733.74 4669.31 6857.29 CHEMICALS & CATALYSTS 2017 1863.76 1701.6 2062.67 2101.76 PACKAGING MATERIAL 10137.79 9407.67 9755.13 9603.66 13098.68
Source: 37 Annual report of IFFCO Trend analysis of raw material Consumed
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This analysis is done taking 2000-01 as a based years. And the entire figures are in percentages.
YEARS 2000-01 2001-02 2002-03 2003-04 2004-05 RAW MATERIALS 100 100.03 120.27 119.26 151.97 STORES & SPARES 100 133.73 136.747 111.35 163.53 CHEMICALS & CATALYSTS 100 92.40 84.36 102.26 104.20 PACKAGING MATERIAL 100 92.79 96.22 94.73 129.20
Distribution of Income on Raw Materials Purchased.

YEARS 2000-01 2001-02 2002-03 2003-04 2004-05 TOTAL INCOME (Rs in crore) 5334 5326 6337 6164 7692 RAW MATERIAL IN % 74 71 68 74 78 OTHERS IN % 26 29 32 26 22
DISTRIBUTION OF INCOME
100 90
PERCENTAGES
80 70 60 50 40 30 20 10 0 2000-01 2001-02 2002-03 2003-04 2004-05
YEARS
RAW MATERIAL IN % OTHERS IN %
Source: 37 Annual report of IFFCO Ratios of IFFCO Relating to Inventories.

Ratios Inventory of finished goods (Month sales) Inventory of raw material and packaging material (Month consumption) Current ratio Quick ratio 2000-01 2001-02 2002-03 2003-04 2004-05 1.6:1 0.63:1 2.92:1 1.65:1 1.81:1 0.77:1 2.72:1 1.39:1 1.88:1 0.68:1 2.62:1 1.51:1 1.3:1 0.79:1 2.84:1 1.71:1 0.77:1 0.73:1 2.36:1 1.51:1
Source: 37 Annual report of IFFCO 4.7. Details of Inventory in IFFCO Kandla.
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Raw Material Consumed (In MT) Years

2000-01 2001-02 2002-03 2003-04 2004-05
P2O5
659273.180 775707.525 931084.715 839936.861 952216.039
Urea
66312.626 37890.990 63088.297 49566.931 67315.129
Potash
254101.644 328552.389 288353.680 275209.163 382800.465
Ammonia
284003.553 351070.698 412780.482 374535.221 414608.883
Filler
119641.050 91621.035 79722.900 77425.800 85890.60
Source: Audited report at IFFCO Kandla Trend analysis of raw material Consumed This analysis is done taking 2000-01 as a based years. And all the figure are in percentages. Years
2000-01 2001-02 2002-03 2003-04 2004-05
P2o5
100 117.66 141.23 127.40 144.43
Urea
100 57.14 95.14 74.75 101.51
Potash
100 129.30 113.48 108.31 150.65
Ammonia
100 123.61 145.34 131.88 145.99
Filler
100 76.58 66.64 64.72 71.79
P2O5 COMSUMPTIONS
1000000.000 900000.000 800000.000
QTY ( IN MT)
700000.000 600000.000 500000.000 400000.000 300000.000 200000.000 100000.000 0.000 2000-01 2001-02 2002-03 2003-04 2004-05
YEARS
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UREA CONSUMPTION
80000.000 70000.000
QTY ( IN MT)
60000.000 50000.000 40000.000 30000.000 20000.000 10000.000 0.000 2000-01 2001-02 2002-03 2003-04 2004-05
YEARS
AMMONIA CONSUMPTION
450000 400000 350000
QTY ( IN MT)
300000 250000 200000 150000 100000 50000 0

2000-01 2001-02 2002-03 2003-04 2004-05
YEARS
48
POTASH CONSUMPTION
450000.000 400000.000 350000.000 300000.000 250000.000 200000.000 150000.000 100000.000 50000.000 0.000 2000-01 2001-02 2002-03 2003-04 2004-05
QTY ( IN MT)
YEARS
FILLER CONSUMPTION
140000.000
QTY ( IN MT)
120000.000 100000.000 80000.000 60000.000 40000.000 20000.000 0.000 2000-01 2001-02 2002-03 2003-04 2004-05
YEARS
49
Down Time Detail (In numbers of days) YEARS

2000-01 2001-02 2002-03 2003-04 2004-05
P2O5
9.36 7.47 11.86 42.94 42.76
AMMONIA
6.37 3.37 0.75 21.65 4.57
Source: Audited report at IFFCO Kandla
DOWN TIME DETAIL DUE TO SHORTAGE OF P2O5

50 45 40 35 30 25 20 15 10 5 0 2000-01 2001-02 2002-03 2003-04 2004-05
NO. OF DAYS
YEARS
DOWN TIME DETAIL DUE TO SHORTAGE OF AMMONIA

25 20 15 10 5 0 2000-01 2001-02 2002-03 2003-04 2004-05
NO. OF DAYS
YEARS
50
Production loss due to raw material shortage: Total production during Year 2004-05 was 2440100 MT and total stream hours used was 43417 hrs so the production rate is 56.20 MT per hour Now, average down time for phosphoric acid is 1026 hrs so the production loss due to shortage of phosphoric acid is (1026 *56.20) = 57661.2 MT Average down time for ammonia is 109.66 hrs therefore production loss due to the shortage of ammonia is (109.66 * 56.20) = 6162.26 MT So the total production loss due to shortage of raw materials is equal to 63823.46 MT during 2004-05. From below chart we find that in total down time 75% times plant is shut down due to the shortage of raw materials only while others include mechanical maintenance, electrical maintenance etc. so it is desirable to maintain adequate quantity of P2O5 and ammonia as safety stock. Transit time details for Raw Material (In days) P2O5
Maximum Time Minimum Time 27 12
Urea
15 5
Potash
30 13
Ammonia
12 6
Filler
1 1
Source: F & A Department Here we take the latest details of raw material (In MT) consumed in 2004-05. And we have taken 5 days approximately processing time of the purchasing process. So we have taken lead-time as Minimum Time + 5days. P2O5
Raw material consumed Per day consumption Lead time 952216.039 2645.04 17
Urea
Potash
Ammonia
Filler
67315.129 382800.465 186.99 1063.33 10 18
414608.883 85890.600 1151.69 238.59 11 6
So safety stock of the above calculated below: P2O5

= 2645.04 x 17 =44965.68 MT
Urea = 186.99 x 10 = 1869.9 MT
51
Potash
= 1063.33 x 18 = 19139.94 MT
Ammonia = 1151.69 x 11
= 12778.59 MT
Filler = 238.59 x 6
= 1431.54 MT
Raw Material Conversion Period Phosphoric Acid conversion period = (Phosphoric Acid inventory / Phosphoric Acid consumption)*330 = (9766.855/178330.48)* 330 = 19 days. Potash conversion period = (Potash inventory / Potash consumption)*330 = (5495.16/33250.05)*330 = 54 days. Urea conversion period = (Urea inventory / Urea consumption)*330 = (1488.99/6484.37) * 330 = 75 days. Ammonia conversion period = (Ammonia inventory /Ammonia consumption)*330 = (2612.28/53876.84) * 330 = 16 days.
52
Filler conversion period = (Filler inventory / Filler consumption)*330 = (36.86/100.53) * 330 = 120 days. Average Raw Material conversion period = (Total Raw Material inventory/Total Raw Material consumption) * 330 = (21977.79/272042.28) * 330 = 27 days. Note: All the inventory and consumption figures that are shown in above mention calculation are in lakhs.
53
LIMITATIONS OF REPORT
54
5. LIMITATIONS OF REPORT.
As the field is to be covered is too vast and the time was limited, so it is
difficult to cover each and every minor detail. As there are too many items in stores, which incurred different ordering cost
and different carrying cost. So it is impossible to find out Economic Order Quantity for stores and spares items. As order of the five major raw material are give on yearly basis by IFFCO it
is not possible to find out Economic Order Quantity for raw material. As there too many item in stores and spare it is not possible to do FSN
analysis for B and C category items in such short time duration.
55
FINDINGS
56
6. FINDINGS.
I find out Percentages of ABC analysis according to value of items and according to numbers of items in stores. I find out Percentages of FSN analysis according to the fast moving, non-moving and slow moving items. I find out Safety stock based on the transit time and the time for order that is taken approximately of the five major raw materials used by IFFCO. I find out Raw material conversion period of five major raw materials. I had calculated the Trend analysis of the five major raw materials consumed, taking 2000-01 as the base year. I had calculated the detail of the production loss due to shortage of raw materials.
57
CONCLUSION
58
7. CONCLUSION.
Theoretical knowledge are provided to me in the college but such type of training helps me to know lot more about the each and every aspect of the management it increases my practical knowledge which may be helpful to me. In training I got the knowledge in detail about the inventory management and its control techniques. I got knowledge in about the brief different the function, the techniques of management, public relation, and labour relation, manufacturing process, etc of IFFCO. For these training I have learnt that if one wants to be efficient manager, one should be essentially had. We can say that the inventories of IFFCO Kandla are very well managed. As we can see that there is very less non-moving items. And there is very less down time in year.
59
BIBLIOGRAPHY
7. BIBLIOGRAPHY.
60
Books: 1. I.M. Pandey, Financial management, Eighth edition, Vikas publishing house, 2005. 2. Khan and Jain, Financial management. 3. Prasana Chandra, Financial management. 4. S.N. Maheswari, Financial management. 5. N.M. Shah, Materials Management, Second edition, Indian Institute of material management, 1996. 6. S.C.Kuchhal, Financial Management, fifteenth edition, Chaitanya Publishing House, 2001. 7. C.R. Kothari, Research methodology, second edition. 8. 37 Annual reports of IFFCO, 2005. 9. Plant performance report of IFFCO KANDLA, 2005. 10. Fertilizer statistics, 2003-04 (FAI, Delhi). 11. Indian Journal of fertilizers, Volume 1, May 2005. Websites: 1. www.iffco.nic.in
61
APPENDICES
62
8.
APPENDICES.
As at 31st March, 2005 As at 31st March, 2004
Balance Sheet as on 31st March 2005. (In lakhs)

PARTICULARS SOURCES OF FUNDS Share holders funds: Share Capital Share Application Money Reserves and Surplus Loan funds: Secured Loans Unsecured Loans Deferred Tax Liability (Net) TOTAL APPLICATION OF FUNDS Fixed Assets: Gross Block Less: Depreciation Net Block Capital Work-in-Progress Investments Current Assets, Loans & Provisions: Inventories Sundry Debtors Cash & Bank Balances Loans & Advances Less: Current Liabilities and Provisions: Current Liabilities Provisions Net Current Assets Miscellaneous Expenditure TOTAL
42122.85 8.10 287984.30 14505.55 50203.55
330115.25
45701.3 489.11 264768.23 70337.21 29055.63
310958.64
64709.10 42125.38 436949.73
99392.84 42543.36 452894.84
443555.70 241116.67 202439.03 13623.38
216062.41 69073.00
43855.65 225454.45 213101.2 4127.36
217228.56 69508
93150.65 32459.94 19910.28 114877.67 260398.54 93381.28 17102.94 110484.22 149914.32 1900 436949.73
102056.05 46946.1 11339.45 96060.45 256402.05 75719.38 14524.39 90243.77 166158.28
452894.84
63
Profit and Loss Account as on 31st March 2005. (In lakhs)

PARTICULARS INCOME FROM OPERATIONS Sales Subsidy from Govt. of India Other Revenue Increase / (Decrease) in stocks LESS: COST OF OPERATIONS Consumption of Raw Materials, Stores Etc. Raw Materials Stores & Spares Chemicals and Catalysts Packing Materials Power, Fuel & Water Less: Stock Transfer for Self Consumption Purchase: Seeds and Chemicals Urea/DAP Employees Remuneration & Benefits Other Expenses on Manufacturing, Administration and Distribution Interest Depreciation Prior Period Adjustments (Net) Profit Before Tax Provision for Taxation -Current Earlier Years Deferred Profit after Tax Profit Transfer to: Capital Repatriation Fund Dividend Equalizations Fund Contribution Towards Approved Donations (Under income tax act, 1961) Net Profit as per Multi State Cooperative Societies Act, 2002 Appropriation: Reserve fund Reserve fund for contingency Reserve for cooperative welfare fund Contribution to cooperative education fund Reserve for donations Provision for proposed dividend General reserve 15367 179 -417.98 As at 31st March, 2005 409760.12 312642.79 26819.11 -14162.08 735059.94 497699.03 6857.29 2101.76 13098.84 45977.68 565734.6 8776.63 544.47 15041.38 393366.97 4669.31 2062.67 9603.66 41882.82 451585.43 14834.6 471.36 3369.64 As at 31st March, 2004 375339.26 216617.64 27235.97 -15888.46 603304.41
556957.97
436750.83
15585.85 26810.46 68666.72 3401.72 16759.14 -213.78 687968.08 47091.86
3841 25666.11 63356.47 4112.19 18401.69 -93.6 552034.69 51269.72
15128.02 31963.84
16150 2717.94 -564.84
18303.1 32966.62
126.2 2000 10
2136.2
126.2 7500 100
7726.2
29827.64
25240.42
8948.29 2982.76 300 298.28 15 8391.52 8891.79
29827.64 --
7572.13 2524.04 300 252.4 15 8015.89 6560.96
25240.42 --
Inventories Details as on 31st March 2005. (In lakhs)

64
PARTICULARS Raw material Stores and spares Loose tools Chemicals and Catalysts Packing materials Construction materials Stock-in-progress Finished goods: Own Manufactured Others Total
As at 31st March, 2005 31885.33 20852.84 138.6 2533.06 1601.45 774.1 274.85 35075.07 15.35
As at 31st March, 2004 27954.89 20833.29 137.19 1881.02 987.48 734.83 1040.6 4846.96 19.79
35090.42 93150.65
48486.75 102056.05
Ratios
65
Current Asets Liquid Ratio Current Ratio Quick Ratio Liquid Ratio Profitability Ratio Operating Profit To Sales Profit Before Tax To Sales Return On Capital Employed Profit Before Tax To Net Worth Profit After Tax To Net Worth Debt Service Ratio Interest Paid Ratio Return On Investment Interest Coverage Ratio G. P. Ratio Net Profit Ratio Return On Equity Ratio Leverage Ratio Debt Equity Ratio Current Asset To Proprietor Fund Fixed Asset To Net Worth Current Liability To Provident Fund Debt To Total Asset Ratio Debt Ratio Capital Gearing Ratio Efficiency Ratio Fixed Assets Turnover Ratio Working Capital Turnover Inventory Of Raw Material & Packing Materials (Monthly Consumption) Inventory Of Finished Goods (Monthly Sales) Sundry Debtors (Monthly Sales) Fixed Asset Ratio Return On Fixed Ratio Reserve To Equity Capital Debtor Turnover Ratio
2004-05 2.36 1.51 0.18
2003-04 2.84 1.71 0.13
2002-03 2.62 1.51 0.23
2001-02 2.57 1.36 0.09
2000-01 2.92 1.65 0.16
6.65 6.52 10.78 14.27 9.68 0.45 11.56 14.84 5.60 4.42 9.68
10.86 8.66 11.32 16.49 10.6 0.67 13.50 13.47 7.86 5.57 10.60
8.15 13.26 18.56 24.65 17.02 36.12 1.77 21.14 8.21 13.69 9.15 17.02
11.84 7.28 9.32 13.32 11.06 6.48 3.18 13.57 3.19 9.02 6.05 11.07
12.34 4.45 5.6 9.12 9 2.88 4.61 11.52 1.96 8.85 4.49 9.01
0.20:1 0.79 65.45 0.33 14.87 0.15 510.15
0.32:1 0.82 69.86 0.29 21.95 0.24 312.86
0.33:1 0.82 68.63 0.31 24.69 0.25 304.98
0.43:1 0.80 84.80 0.31 30.07 0.30 232.52
0.63:1 0.87 95.61 0.30 38.57 0.39 159.16
3.57 4.82 0.73 0.77 0.95 333.90 0.15 683.55 18.20
2.78 3.56 0.79 1.3 1.5 218.56 0.15 573.21 12.72
2.74 4.04 0.68 1.88 1.36 209.30 0.25 636.48 15.23
2.18 3.76 0.77 1.81 1.3 197.17 0.13 563.56 15.86
2.12 3.53 0.63 1.6 1.2 152.18 0.09 512.89 18.17
Balance Sheet of Kandla Unit as on 31st March 2005

Particular
31st March 2005
66
Sources of Funds Shareholders Funds: Inter unit accounts Share application Money Reserves and Surplus
30,752,724,335.34 (30,314,578,769.46) (30,314,578,769.46)
Loan funds: Secured loans Unsecured loans Deferred tax liabilities Total Application of Funds Fixed Assets Gross Block Less: Depreciation Net Block Capital work in progress Expenditure during construction Investments Current Assets, Loans and Advances: Inventories Sundry Debtors Cash and Bank Balances Loans and Advances
41,652,614.24 -
41,652,614.24 479,798,180.12
4,388,922,190.70 1,978,532,063.07 2,410,390,127.63 12,952,784.00 2,423,342,911.59 7,500.00
2,562,002,621.48 249,017.00 289,872,645.93 2,852,124,284.41
Less: Current Liabilities and provisions Current Liabilities Provisions Net current Assets Deferred Tax Assets Total
4,702,533,386.88 93,143,129.00 4,795,676,515.88 (1,943,552,231.47) 479,798,180.12
67

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Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

METHODOLOGY ADOPTED FOR DATA COLLECTION

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

2. METHODOLOGY ADOPTED FOR DATA COLLECTION.

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Report on Summer Training and Inventory Management

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

MARKET CAPTURED BY IFFCO

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

3.7. Financial Highlight of the IFFCO. Particular

42131 287984 330115 53310 11399 42125 436949

46190 264768 310958 89000 10393 42543 452894

44449 282902 327351 98452 8879 434682

41984 236593 278577 32131 80814 6865 398387

41857 214680 256537 67520 88876 4979 417912

216062 69073 260398 110484 149914 1900

217228 69508 256402 90244 166158

224651 44222 267441 101632 165809

236224 26622 214407 78866 135541

245277 26622 222159 76146 146013

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Net Assets Employed

3.8. Performance Highlight of IFFCO in 2004-05.

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Report on Summer Training and Inventory Management

Achievements of IFFCO Kandla Unit.

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management

Data communication Video conferencing Connectivity between plant and township

Merit Swiss Asian School Of Management, Ooty

Report on Summer Training and Inventory Management