1. TABLE OF CONTENTS
CHAPTER
NO.
TITLE PAGE
NO
1
INTRODUCTION
1.1. Describes the Training in general, highlighting
1.2. Objectives
1.3. Scope
1.4. Duration
1.5. Importance
1.6. Benefits derived from training
2
PROFILE OF THE STUDY
Industry profile
Company profile
Product profile
3 ORGANISATION STRUCTURE
4
OVERVIEW OF VARIOUS DEPARTMENTS
4.1. Production Department
4.2. Human Resource Department
4.3. Marketing Department
4.4. Finance Department
5 Conclusion
REFERENCES
BIBLIOGRAPHY
2. INTRODUCTION
1.1 Describing the industrialtraining in general
As part of graduation requirements, all the undergraduates, the third year students, who
take bachelor of commerce will undergo industrial training programme for a duration
of one month. This industrial training is a course for undergraduates that gives them an
opportunity to expose themselves in the real career world so as to they will earn how to
relate theoretical learning before and real practical in working’s environment. Besides
that, in future, they will be having good preparation and understanding for their field
of profession today’s world, merely having a degree is no guarantee of employment,
nor is it a reliable indicator of the individual’s competence in a job. Rather, graduates
must have current and relevant knowledge, practical experience, and a positive attitude
to allow them to be competitive in the job market.
1.2 THE OBJECTIVE OF INDUSTRIAL TRAINING
i. Undergraduates have an opportunity to expose themselves in working’s
environment of their field of profession respectively.
ii. For obtaining working’s experience in the industry which is relating to their
field of current study.
iii. Trai ni ng us to be capable i n communi cati on and i nteracti on
between workers and superior.
iv. Training us to be able to prepare a technical report which is related to
industrial training we do.
v. Cultivating us to work as a team
vi. Learning to be professional behavior respectively
3. 1.3 SCOPE
i. Observing the whole operation of this industry.
ii. Doing operation’s work that is involved in unit production by either using
machine or tool.
iii. Work that involving installment and fabrication of tool.
iv. Visual inspection and quality control on the final product.
v. Discussion and meeting with superior.
1.4 DURATION
The duration involved in industrial training was around 1 month, the one month of
industrial training helped me to gain more knowledge in a manufacturing company. In
the first day of the week, after visiting all the departments in this industry.
1.5 IMPORTANCE
The importance of this industrial training was quiet similar to objective and scope, the
industrial training mostly concentrate on developing the skill and knowledge on
industrial functional areas. It really did helped in me understanding the structure pattern
of an organization and allocation of resource, budget planning, and production process
and personnel management.
1.6 BENEFITS DERIVED FROM TRAINING
i. The benefits derived from industrial is acquiring knowledge and Observing the
whole operation of this industry.
ii. Enhanced contacts with potential employers while on training
iii. Learning to be professional behavior respectively.
4. Profile study
INDUSTRY PROFILE
Nature of business : Manufactures
Year of establishment : 2002
Additional business : supplier & service provider
Ownership type : sole Proprietorship
Location : No 50/7 venus street, Mathiyazhagan nagar,
Padi, Chennai-600050
No of employees : Permanent staff 75
Temporary staff 25
Departments : Production,
Human resource,
Marketing,
Finance
Products : Metal cutting tools, Profile from from tools, Injection moulds,
Compression moulds, Die casting dies, Jigs, Press tools,
Gauges, Fixtures, Work rest blades, Machinery spares
5. COMPANY PROFILE
Profile tech is an ISO 9001-2000 Manufacturing company based in Chennai.
It has well equipped, modern and sophisticated commercial tool room for
Compression moulds, die casting dies, Jigs, Fixtures, Gauges, Workrest blades,
Workrest blades, Machinery spares.
Profile Tech is Started in July 2002 at Chennai city in Padi industrial area.
It is a Sole Proprietorship of innovative team with dedicated and well experienced
mechanical engineers.
The products are sourced from highly reliable and certified vendors of the
industry. They ensure that the offered products are manufactured in strict
accordance to well defined protocols of the industry.
They provide utmost attention to compliance with preset quality norms of the
domain during production of the products.
The products produced in the company goes through under several quality
check.
It is backed by the professional team in pursuit of business objectives and
establishment of long lasting business relations with valued patrons.
7. PRODUCTION DEPARTMENT
PRODUCTS:
Metal cutting tools
Profile from tools
Injection moulds
Compression moulds
Die casting dies
Jigs
Press tools
Gauges
Fixtures
Work rest blades
Machinery spares
Purchase of raw materials
The importance of raw material to efficient operation of a manufacturing organisation
cannot be over emphasized; in that the availability of the raw material in the right quality
and quantity will determine to a reasonable extent; the availability, quality and quantity
of the resultant output.
Raw material management is critical to the overall performance of any manufacturing
concern. The determination of economic order quantity (EOQ), re-order level and
minimum/maximum stock levels is important in raw material management in any
manufacturing outfit.
The material function is assumed to be organised and operated on an integrated basis
and is also presumed to be responsible for material forecasting, planning, inventory
control, scrap control and disposal; providing management information regarding
purchases and inventories within the framework of the financial policies and norms. A
glance at these functions will reveal the intricacies involved in maintaining balanced
policies on raw material management.
QUALITY DEPARTMENT
Quality with our advanced internal design and development division sophisticated
machines, Innovative technology and finest raw materials we commit ourselves to
produce 100% defect free quality components there by making a distinct benchmark the
8. company is equipped with advanced measuring instruments. We pledge to monitor our
performance as an ongoing activity and strive for Continuous improvement.
This department will check every
metals cutting tools, workrest blades
size, weight , and height of the
product If the first part of a product is
rejected, then the remaining part of a
sheet metal that will stop cutting or
punching the product out. It will keep
repeating the first part until achieving
the approved product
This department will check the final
products before it delivers for
customer. If the final products are
rejected, it will hold out for a while
either put in the store or send it back
to production if the final products can
be remade.
10. Thread rolling & cutting machine Auto precision horizontal gear rolling machine
Injection moulding
Die casting machine
11. HUMAN RESOURCE DEPARTMENT
STRUCTURE OF HR DEPARTMENT
HUMAN RESOURCE POLICIES
Human Resource Policies refers to principles and rules of conduct which “formulate,
redefine, break into details and decide a number of actions” that govern the relationship
with employees in the attainment of the organization objectives. HR Policies cover the
following:
1. Policy of hiring people with due respect to factors like reservations, sex, marital
status, and the like.
2. Policy on terms and conditions of employment-compensation policy and methods,
hours of work, overtime, promotion, transfer, lay-off and the like.
3. Policy with regard medical assistance-sickness benefits, ESI and company medical
benefits.
4. Policy regarding housing, transport, uniform and allowances.
MANAGER HR
&
ADMINISTRATION
ASSISTANT MANAGER
ADMINISTRATION
ASSISTANT MANAGER
[HR]
12. 5. Policy regarding training and development-need for, methods of, and frequency of
training and development.
6. Policy regarding industrial relations, trade-union recognition, collective bargaining,
grievance procedure, participative management and communication with workers.
FORMULATING POLICIES
There are five principal sources for determining the content and meaning of policies:
1. Past practice in the organization.
2. Prevailing practice in rival companies.
3. Attitudes and philosophy of founders of the company as also its directors and the top
management.
4. Attitudes and philosophy of middle and lower management.
5. The knowledge and experience gained from handling countless personnel problems
on day to day basis.
RECRUITMENT PROCEDURE
Identify Vacancy
Prepare Job Description and person
Specification
Advertise
Managing the Response
Short-listing
References
Arrange Interviews
Conduct The Interview
Decision Making
Convey The Decision
Appointment Action
13. WAGE AND SALARY ADMINISTRATION:
PRINCIPLES GOVERNING COMPENSATION ADMINISTRATION IN PROFILE TECH
Maintaining equity
Maintain competitiveness
Matching employee expectation
Reinforcing positive employee behavior
Eliminating any discrepancy
Optimization management and employee interest
REPORT AND DOCUMENTATION
Salary and payroll
Processing
Statutory payroll reports
Leave management
Employee self service
Payroll reconciliation tools
Reimbursement and loans
Payroll processor and outsourcers
Arrears and final settlements
Head count summary
Payroll journal voucher
Pay slips
Salary statements
Monthly profession tax
Income tax statement
14. Marketing department
MARKETING PROCESS
Budgeting
Marketing departments work on budgets. They are given a certain amount of money to
spend upon creating a presence for the company or product in the market. It is the
responsibility of the marketing department to estimate the cost of all the marketing
activities it intends to carry out and prepare a budget that would use the allocated
amount of money most efficiently. It is essential that the marketing personnel stick to the
budget.
Communicating with other departments
One of the key responsibilities of the marketing department is to create a channel of
communication with all the other departments within an organization. It has to familiarize
all the employees with the marketing ethics, company’s philosophy, and customer
BUDGET STRATEGY
15. relationship. It can do so by conducting workshops, training sessions and talks or
presentation regarding customer handling and brand awareness.
Keeping up with the competition
The marketing department is also responsible for researching the competition and
keeping up with them to know what they are doing, which products they are launching,
what are the weaknesses of the competitors and how to avoid making the same
mistakes as the competitors. It is also essential to know how the company is placed in
relation to its competitors, why the customers prefer the other companies, what
customers the competitors target and the relationship they have with their customers.
Once all this information is available then the marketing department can analyze it and
create a better marketing and customer relation strategy for the company.
Duties performed in the marketing department of Profile Tech
As the company produces and manufactures products which deal in tools and
engineering products so the company targets only those consumers whose needs are in
metal cutting tools and metal molding parts.
The marketing process of this company works through modern approach.
The marketing team of Profile tech follows 3 different strategies to market their product.
1. To create the awareness of the business and its products to their customer they
sell their products through online business.
2. The other process involved in marketing their product is through tender/quotation
3. Chain marketing is also followed in Profile tech as a marketing strategy. The
orders are placed with the influence of any employee, manager or the director of
the company.
.
16. Sale through online
The company has registered in India mart.com, this idea is to highlight how easy it is to
find buyers online from your personal computer. Of the 20 million SMEs in India, over 1
million suppliers are registered with IndiaMART.com already and reaping the benefits.
India mart helps the suppliers to easily find the buyer so that it reduces the work of
marketing manager.
Order through Tender/quotation
Tender is the formal process of asking suppliers to bid on the products and services
required by a company.
• Quotation is the response of the bidders where they quote their price for the goods
and services.
• Quotation also refers to the estimate that people ask from professionals for jobs that
they require done.
Leverage existing relationship
This is the process where the marketing is done by influence over personal relationship.
Developing relationships with the people already know-clients, colleagues, people meet
through professional networking organizations, friends and even family.
17. Product details
Profile from tools:
Injection moulds
injection moulding is a manufacturing process for producing parts by injecting material
into a mould. Injection moulding can be performed with a host of materials, including
metals, thermoplastic and thermosetting polymers. Material for the part is fed into a
heated barrel, mixed, and forced into a mould cavity, where it cools and hardens to the
configuration of the cavity
Die casting dies
Die casting is a metal casting process that is characterized by forcing molten metal
under high pressure into a mold cavity. The mold cavity is created using two
hardened tool steel dies which have been machined into shape and work similarly to
an injection mold during the process. Most die castings are made from non-
ferrous metals, specifically zinc, copper, aluminium, magnesium, lead, and tin based
alloys
18. .
Compression moulds:
Compression molding is a method of molding in which the molding material, generally
preheated, is first placed in an open, heated mold cavity. The mold is closed with a top
force or plug member, pressure is applied to force the material into contact with all mold
areas, while heat and pressure are maintained until the molding material has cured.
Jigs
A jig is a type of tool used to control the location and/or motion of another tool. A jig's
primary purpose is to provide repeatability, accuracy, and interchangeability in the
manufacturing of products.
Press tools:
19. Press tools are commonly used in hydraulic, pneumatic, and mechanical presses to
produce components at high volumes. Generally press tools are categorized by the
types of operation performed using the tool, such as blanking, piercing, bending,
forming, forging, trimming etc.
Gauges:
Gauge is a device used to make measurements or in order to display certain
information, like time. A wide variety of tools exist which serve such functions, ranging
from simple pieces of material against which sizes can be measured to complex pieces
of machinery. Depending on usage, a gauge can be described as "a device for
measuring a physical quantity", for example "to determine thickness, gap in space,
diameter of materials, or pressure of flow, or "a device that displays the measurement of
a monitored system by the use of a needle or pointer that moves along a calibrated
scale.
20. FIANANCE DEPARTMENT
STRUCTURE OF FINANCE DEPARTMENT
Responsibilities of finance department in Profile tech
Finance department of this company follows certain methods which usually applicable
to all other company’s finance department.
The first and foremost function of finance department of this company is Estimating the
Amount of Capital Required for the company operation.
This is the foremost function of the financial manager. It requires capital for:
(i) purchase of fixed assets,
(ii) Meeting working capital requirements, and
(iii) Modernisation and expansion of business.
ACCOUNTING &
REPORTING
(CONTROLLER GROUP)
BUDGETING &
FORECASTING
EXPENSE
MANAGEMENT
INTERNAL
AUDIT &
COMPLIANCEPAYROLL
TAX
TREASURY
MANAGEMENT
21. The financial manager of this company makes estimates of funds required for both
short-term and long-term.
Determining Capital Structure:
Once the requirement of capital funds has been determined, a decision regarding the
kind and proportion of various sources of funds is taken. For this, financial manager has
to determine the proper mix of equity and debt and short-term and long-term debt ratio.
Choice of Sources of Funds:
In this stage the finance manager decides the sources from which the funds are to be
raised. The management can raise finance from various sources like banks and other
financial institutions.
Procurement of Funds:
The financial manager takes steps to procure the funds required for the business. It
might require negotiation with creditors and financial institutions, issue of prospectus,
etc.
Utilisation of Funds:
The stage where a fund procured by the financial manager is prudently invested in
various assets so as to maximise the return on investment: While taking investment
decisions, management is guided by three important principles, viz., safety, profitability,
and liquidity.
Management of Cash:
Management of cash and other current assets is an important task of financial manager.
It involves forecasting the cash inflows and outflows to ensure that there is neither
shortage nor surplus of cash with the firm. Sufficient funds must be available for
purchase of materials, payment of wages and meeting day-to-day expenses.
Financial Control:
Evaluation of financial performance is also an important function of financial manager.
The overall measure of evaluation is Return on Investment (ROI). The other techniques
of financial control and evaluation include budgetary control, cost control, internal audit,
22. break-even analysis and ratio analysis. The financial manager must lay emphasis on
financial planning as well.
The other responbilities which the financial department manages
Prepare and create financial accounts – such as Trading, Profit and Loss Account
and the Balance Sheet.
Financial accounts help a company's bookkeeper record any transaction, as long as the
junior accountant can determine which account the transaction pertains to. Assets are
resources a company owns, and they include cash, equipment and land. Liabilities are
corporate debts. Revenue is income the business generates through its operations,
whereas expenses represent costs it incurs. Equity is money external financiers poured
into the business.
Trading accounts:
1.Trading account helps to know gross profit or loss.
2.Trading account provides information about the direct expenses.
3.Trading account provides safety against possibilities of loss.
4.Trading account helps in comparison of closing stock with last year's stock
Balance Sheets
A balance sheet is also known as a statement of financial position or report on financial
condition. It includes assets, liabilities and equity. A balance sheet indicates to investors
the steps corporate management is taking to constantly refine processes, improve
performance metrics and make liquidity management an integral part of day-to-day
planning. For example, a company's financial-condition report may show that
department heads bought equipment to improve production mechanisms and that the
business borrowed to prop up its cash position.
23. Keep and maintain financial records – sales figures and records of expenditure would
be held by the Finance department and used by other departments also.
Financial accounting, which some call "the language of business,"
A major use of financial accounting is for the recording of transactions. This function of
accounting is also known as bookkeeping.
Prepare and plan internal financial information – this would mainly be performed in
the case of a budget, which is a financial plan and can help managers take corrective
action.
Based on historical information and management’s expectations, budgets are the
numerical representation of a business’s goals and vision. Those budgets can then be
used to forecast the future performance of the company – it can be either future cash
flow or future profits.
Analyse current financial performance – how the firm has done in trading or
expenses would be analysed primarily using ratio analysis
Analyzing financial position helps users of financial statements to assess the financial
health of an entity. When analyzed over several accounting periods, balance sheets
may assist in identifying underlying trends in the financial position of the entity. It is
particularly helpful in determining the state of the entity's liquidity risk, financial risk,
credit risk and business risk. When used in conjunction with other financial statements
of the entity and the financial statements of its competitors, balance sheet may help to
identify relationships and trends which are indicative of potential problems or areas for
further improvement. Analysis of the statement of financial position could therefore
assist the users of financial statements to predict the amount, timing and volatility of
entity's future earnings.
Pay creditors – Finance Department would ensure that bills are paid to people the firm
owes money to.
Ensures that all suppliers and vendors are paid. The person in charge should verify that
expenses are accurate and are coded correctly
Pay employees wages and salaries – running the payroll system is another important
task for Finance to undertake. Employees have to be paid!
24. A pay philosophy is a company's commitment to how it values employees. A consistent
pay philosophy gives the company and the employee a frame of reference when
discussing salary in a negotiation.
The goal of a pay philosophy is to attract, retain, and motivate employees. This usually
requires a competitive pay philosophy, with a focus on benefits and work life.
