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LIST OF CONTENTS Page No. 1) Introduction to topic6 2) Objective of study7 3) Research Methodology 8 4) Introduction about IFFCO 9-17 5) Objective of the company 18

6) Management 19-21 7) Aim, Vision, Mission 22-23 8) Vision 2010, Approach 24 9) Commitment, Principles 25 10) IFFCOs Emblem 26 11) Organization chart of IFFCO 27 12) All India share of IFFCO 28 13) Performance highlights 29 14) IFFCO Associates 30 15) Awards galore 31-32 16) Aonla unit 33-38 17) Finance and accounts department 39-43 18)

Inventory management 44-46 19) Various sections of inventory 47-52 20) Imported material 53 21) Material coding 54-55 22) Packing & Dispatch 56 23) Document for dispatch of goods. 57-58 24) Accounting of raw material 59-61 25) Store section 62 26) Verification of Inventories. 63-66 4

27) Techniques of Inventory control 67-70 28) Criteria for judging the Inventory system 71-72 29) Inventory software 73

30) Data Entry menu 74-75 31) Reports Menu 76-82 32) Production department 83-86 33) Different vouchers 87-96 34) Rejection/Discreption Report 97-98 35) Tender enquiry 99 36) Performance bank guarantee 100-101 37) Material purchase Requitions 102 38) Store adjustment voucher 103 39) SWOT Analysis & Strategies 104-107 40) Conclusions & Recommendations 108-109 41) Bibliography 110 5

INTRODUCTION TO THE TOPIC INVENTORY MANAGEMENT Managing the level of inventory is like maintaining the level of water in a bath tub with an open drain. The water is flowing out continuously. If water is let in too slowly, the tub is soon empty. If the water is let in too fast, the tub overflows. The dictionary meaning of inventory is stock of goods. The investment in inventory is very high in most of the undertakings engaged in manufacturing. The amount of investment is sometimes more in inventory than in other assets. About 90 percent part of working capital is invested in inventories. It is necessary for every management to give proper attention to inventory management. A proper planning of purchasing, handling, storing and accounting should form a part of inventory management. By proper planning it is possible for a company to reduce its levels of inventories to a considerable degree, without any adverse effect on production and sales, by using simply inventory planning and control technique. The reduction in excessive inventories carries a favorable impact on companys profitability. An efficient system of inventory management will determine 1)What to purchase 2)How much to purchase 3)From where to purchase 4)Where to store, etc. 6

Effective inventory management enables an organization to meet or exceed customers expectations of product availability while maximizing net profits or minimizing costs

OBJECTIVE OF STUDY The main aim of study is to check the efficiency and effectiveness of inventory management system at IFFCO Aonla. Investment in inventory incurs a high cost. Therefore effective management is necessary to minimize the cost and ultimately increases profitability of an organization. Apart from our main objective, our other objectives are: 1)To analyze the level of investment in inventory by IFFCO. 2)To study the inventory policy of the company. 3)To analyze the policy adopted by the company. 4)To analyze the financial position of the company. 5) To give suggestion if any, regarding effective inventory management, to ensure smooth and uninterrupted supply without making unnecessary investment of funds in inventory. 8

LIST OF CONTENTS Page No. 1) Introduction to topic6 2) Objective of study7 3) Research Methodology 8

4) Introduction about IFFCO 9-17 5) Objective of the company 18 6) Management 19-21 7) Aim, Vision, Mission 22-23 8) Vision 2010, Approach 24 9) Commitment, Principles 25 10) IFFCOs Emblem 26 11) Organization chart of IFFCO 27 12) All India share of IFFCO 28 13) Performance highlights 29 14) IFFCO Associates 30 15) Awards galore 31-32 16)

Aonla unit 33-38 17) Finance and accounts department 39-43 18) Inventory management 44-46 19) Various sections of inventory 47-52 20) Imported material 53 21) Material coding 54-55 22) Packing & Dispatch 56 23) Document for dispatch of goods. 57-58 24) Accounting of raw material 59-61 25) Store section 62 26) Verification of Inventories. 63-66 4

27) Techniques of Inventory control 67-70

28) Criteria for judging the Inventory system 71-72 29) Inventory software 73 30) Data Entry menu 74-75 31) Reports Menu 76-82 32) Production department 83-86 33) Different vouchers 87-96 34) Rejection/Discreption Report 97-98 35) Tender enquiry 99 36) Performance bank guarantee 100-101 37) Material purchase Requitions 102 38) Store adjustment voucher 103 39) SWOT Analysis & Strategies 104-107 40)

Conclusions & Recommendations 108-109 41) Bibliography 110 5

INTRODUCTION TO THE TOPIC INVENTORY MANAGEMENT Managing the level of inventory is like maintaining the level of water in a bath tub with an open drain. The water is flowing out continuously. If water is let in too slowly, the tub is soon empty. If the water is let in too fast, the tub overflows. The dictionary meaning of inventory is stock of goods. The investment in inventory is very high in most of the undertakings engaged in manufacturing. The amount of investment is sometimes more in inventory than in other assets. About 90 percent part of working capital is invested in inventories. It is necessary for every management to give proper attention to inventory management. A proper planning of purchasing, handling, storing and accounting should form a part of inventory management. By proper planning it is possible for a company to reduce its levels of inventories to a considerable degree, without any adverse effect on production and sales, by using simply inventory planning and control technique. The reduction in excessive inventories carries a favorable impact on companys profitability. An efficient system of inventory management will determine 1)What to purchase 2)How much to purchase 3)From where to purchase 4)Where to store, etc.

Effective inventory management enables an organization to meet or exceed customers expectations of product availability while maximizing net profits or minimizing costs 7

OBJECTIVE OF STUDY The main aim of study is to check the efficiency and effectiveness of inventory management system at IFFCO Aonla. Investment in inventory incurs a high cost. Therefore effective management is necessary to minimize the cost and ultimately increases profitability of an organization. Apart from our main objective, our other objectives are: 1)To analyze the level of investment in inventory by IFFCO. 2)To study the inventory policy of the company. 3)To analyze the policy adopted by the company. 4)To analyze the financial position of the company. 5) To give suggestion if any, regarding effective inventory management, to ensure smooth and uninterrupted supply without making unnecessary investment of funds in inventory. 8 Iffco Project Download this Document for Free Print Mobile Collections

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