The document is an internship report submitted by Tanvir Ahmed summarizing his 3-month internship at Chevron Bangladesh. It includes an introduction to Chevron as a global energy company, an overview of Chevron Bangladesh's operations, and an analysis of the effectiveness of Chevron Bangladesh's invoice processing system in meeting on-time payment objectives. The report focuses specifically on the accounts payable function and invoice processing procedures within the Chevron Bangladesh Finance department.
1) The document discusses training and development programs for employees of Sonali Bank Limited, a state-owned commercial bank in Bangladesh.
2) It outlines the bank's training needs analysis process, types of training including on-the-job and off-the-job, and its training institute which provides programs in areas like credit management, IT, and Islamic banking.
3) A SWOT analysis of the bank finds strengths in its large network and customer trust, but also weaknesses in lack of technology use and unmotivated workers, as well as opportunities and threats in the competitive market.
Internship Report By Mashruk Zaman KhanMashruk Khan
The document summarizes the internship report of Mashruk Zaman Khan at Chevron Bangladesh Ltd. It describes his regular duties assisting with personnel files, contractor databases, payroll updates, and service award delivery. It also outlines ad hoc projects on recruitment assistance and position approvals. His major project involved virtualizing the supplier contractor folder database. The report provides context on Chevron's operations in Bangladesh and organizational structure, with the HR department hierarchy. It evaluates the annual business planning and recruitment processes, identifying issues around delays, inadequate planning, and remuneration disagreements.
Logistics Management, UNIT-1, BBA III Year Notes, Osmania UniversityBalasri Kamarapu
Logistics Management, BBA III Year Notes, Osmania University, Logistics Management, Inbound, Internal and Outbound Logistics in SCM, Developing the Logistics organization for effective Supply Chain Management, development of Integrated Logistics Strategy, Logistics in Maximizing profitability and cash flow, 3PL, 4PL, International Logistics, Reverse Logistics.
Employee training,
Training need assessment
Training methods
Training evaluation
Cross-cultural training,
Designing executive development programme
Techniques of executive development
Career planning and development
The document contains several job descriptions for HR roles. The roles include Manager - HR, HR Manager - Operations, Manager - Recruitments (Telecom), Assistant Manager HR (GENERALIST), Senior Manager - Talent Management, TECHNICAL RECRUITER, Recruitment Executive / Sr. Recruitment Executive, HR Generalists for a US networking company in Bengaluru, and Administration Officers / Admin Executives in Jaipur. The jobs require qualifications like MBA/PGDM and experience ranging from 1-10 years in areas like recruitment, operations, talent management, and administration. Responsibilities include recruiting, managing HR processes, developing talent strategies, and handling general administrative tasks. Locations include Delhi,
The importance of Selection and Training of Trainers is explained in this presentation. It helps to identify the components required for successful trainers, as a part of Effective HR. The procedure involved in the selection and the factors that enhance the credibility of trainers are discussed and presented here.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideShareEffectHR
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Follow us on Twitter: https://twitter.com/WeLearnIndia
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1) The document discusses training and development programs for employees of Sonali Bank Limited, a state-owned commercial bank in Bangladesh.
2) It outlines the bank's training needs analysis process, types of training including on-the-job and off-the-job, and its training institute which provides programs in areas like credit management, IT, and Islamic banking.
3) A SWOT analysis of the bank finds strengths in its large network and customer trust, but also weaknesses in lack of technology use and unmotivated workers, as well as opportunities and threats in the competitive market.
Internship Report By Mashruk Zaman KhanMashruk Khan
The document summarizes the internship report of Mashruk Zaman Khan at Chevron Bangladesh Ltd. It describes his regular duties assisting with personnel files, contractor databases, payroll updates, and service award delivery. It also outlines ad hoc projects on recruitment assistance and position approvals. His major project involved virtualizing the supplier contractor folder database. The report provides context on Chevron's operations in Bangladesh and organizational structure, with the HR department hierarchy. It evaluates the annual business planning and recruitment processes, identifying issues around delays, inadequate planning, and remuneration disagreements.
Logistics Management, UNIT-1, BBA III Year Notes, Osmania UniversityBalasri Kamarapu
Logistics Management, BBA III Year Notes, Osmania University, Logistics Management, Inbound, Internal and Outbound Logistics in SCM, Developing the Logistics organization for effective Supply Chain Management, development of Integrated Logistics Strategy, Logistics in Maximizing profitability and cash flow, 3PL, 4PL, International Logistics, Reverse Logistics.
Employee training,
Training need assessment
Training methods
Training evaluation
Cross-cultural training,
Designing executive development programme
Techniques of executive development
Career planning and development
The document contains several job descriptions for HR roles. The roles include Manager - HR, HR Manager - Operations, Manager - Recruitments (Telecom), Assistant Manager HR (GENERALIST), Senior Manager - Talent Management, TECHNICAL RECRUITER, Recruitment Executive / Sr. Recruitment Executive, HR Generalists for a US networking company in Bengaluru, and Administration Officers / Admin Executives in Jaipur. The jobs require qualifications like MBA/PGDM and experience ranging from 1-10 years in areas like recruitment, operations, talent management, and administration. Responsibilities include recruiting, managing HR processes, developing talent strategies, and handling general administrative tasks. Locations include Delhi,
The importance of Selection and Training of Trainers is explained in this presentation. It helps to identify the components required for successful trainers, as a part of Effective HR. The procedure involved in the selection and the factors that enhance the credibility of trainers are discussed and presented here.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideShareEffectHR
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLP
This document discusses key factors in selecting transportation modes for shipping goods, including the nature of the freight, packaging and handling, volume, transit times, and ability to track shipments. It also outlines the major transportation modes of rail, motor carrier, air, and water. Finally, it briefly discusses the effects of transportation on business profits and the role of transportation in the economy.
Training Methods Used in Eastern Bank Limited, BangladeshImtiaz Noor
Eastern Bank Limited uses various training methods for its employees. New employees receive 5-7 days of orientation training that covers the organization and HR division. In-house training is conducted by the bank's own trainers and covers materials relevant to the organization's needs. Job instruction training involves employees learning from supervisors or coworkers. Need-based local and foreign training is conducted externally. E-learning and computer-based training includes mandatory courses. Vestibule training uses equipment in a special training area. Conferences and seminars allow attendees to learn from other companies. Surveys found that around 10% strongly agree and 30% agree that they are interested in and satisfied with the training methods.
The document discusses the human resource management practices of Akij Group, one of the largest conglomerates in Bangladesh with over 50,000 employees, outlining their recruitment and selection process, training opportunities, compensation and benefits, and compliance practices for their various business units. It also includes an organizational chart of Akij Group and lists their 26 business units across various industries.
Role and Responsibilities HR Executive in a CompanyYour HR World
A human resources manager oversees all aspects of workforce development and management for her employer, ensuring the company is appropriately staffed.
Aarong is a social enterprise and leading fashion house in Bangladesh that supports over 65,000 artisans. This study analyzes Aarong's human resource policies and practices, including their recruitment process, HR department structure, employee benefits, and training programs. Based on observations and findings, recommendations are provided such as improving compensation packages, addressing competency gaps through training, and hiring more HR personnel. The conclusion states that Aarong promotes Bangladeshi culture while empowering artisans.
Thesis presentation on evaluate the employees training & development prac...Ahmad Kawser Zohair
This presentation evaluates the employee training and development practices of First Security Islami Bank Limited. It has the following objectives: to inform about the bank's HR department, examine training programs, identify training issues, and suggest recommendations. The methodology includes primary sources like interviews and observations, and secondary sources like annual reports. The bank provides various on and off-the-job training programs covering areas like banking, accounting, credit management. However, issues identified include a lack of clear training methods, no needs assessment process, and inadequate pre-and post-training evaluation. Recommendations are made to address these issues to improve training effectiveness.
The document provides background information on National Commerce and Credit Bank Ltd (NCCBL) in Bangladesh. It discusses NCCBL's history, organizational structure, products/services, branches, board of directors, and financial performance. During his internship at NCCBL's Banani branch, the author helped with various general banking activities like opening accounts, processing payments/deposits, providing account balances and closures. He also assisted with other administrative tasks such as file/document arrangement. The objective of the internship was to gain practical banking experience and apply academic knowledge.
This document discusses recruitment and selection processes. It defines recruitment as discovering potential applicants for organizational vacancies. The recruitment process involves planning, searching, evaluation, and control. Key factors in recruitment include sources of applicants and challenges faced by HR like globalization and lack of motivation. Selection is picking qualified candidates from the applicant pool. The selection process involves matching organizational needs with candidate skills through steps like screening and evaluation. Recruitment encourages applications while selection attempts to reject unsuitable candidates. Selection follows and is more expensive than recruitment.
This document provides information about a study on employee welfare facilities at HLL Lifecare Limited in Kanagala, India. It includes the company profile, objectives of the study which are to study existing welfare facilities, employee opinions, satisfaction levels, and suggestions for improvement. The methodology involved questionnaires and interviews. Key findings were that 90% of employees were aware of welfare facilities but 10% were not, and 70% felt satisfied with current facilities. Suggestions included improving canteen food quality and providing transportation for contract workers. The conclusion is that welfare facilities play an important role in employee motivation and productivity.
Recruitment, Selection and Hiring Policy of The City Bank Ltd.Musabbir Rahim
The document discusses the recruitment, selection and hiring process of The City Bank Ltd. It provides definitions and differences between recruitment, selection and hiring. It then details the bank's recruitment and selection process, which includes advertising openings, screening candidates, interviews, making job offers, medical tests and hiring. It also discusses internal recruitment policies and procedures. Major findings are that the bank uses centralized recruitment coordinated by HR, and the selection process can be time-consuming. Recommendations include improving the sorting of CVs, developing an online employee database, providing training, and making some selection decisions centrally to reduce time.
MCB was established in 1947 before the partition of India and Pakistan to meet the banking needs of Muslims. It is now one of Pakistan's leading banks with over Rs. 300 billion in assets and 1,000 branches nationwide. MCB's human resource management processes include forecasting staffing needs, recruiting both internally and externally, testing candidates, conducting interviews, and providing orientation for new employees to prepare them for their roles at MCB.
The document discusses the importance of training and development in the banking sector of Bangladesh. It provides details on the types of training programs conducted at Dhaka Bank, including orientation for new employees, on-the-job training, and off-the-job classroom or lecture-based training to improve employee performance. It emphasizes that regular training is needed to equip employees with new skills and knowledge to adapt to changes in banking and meet organizational goals.
Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses.
The primary objective of the study is to lay the foundation for training and development at Tech Mahindra. Secondary objectives are to understand the current training process, apply learning in human resources, understand the importance and stages of training programs, and understand international assignment training. The scope of the study provides an opportunity to explore the field of human resources and gain exposure interacting with high-level managers through feedback on the training process.
This document discusses training and development (T&D) in organizations. It defines T&D and explains how training needs are determined and objectives are established. Various T&D methods are identified, such as classroom programs, mentoring, coaching, role playing and simulations. The document also describes how T&D programs are implemented, evaluated, and how they help organizations compete. It defines orientation and its purposes. Finally, it discusses organizational development techniques like survey feedback, quality circles, team building and sensitivity training.
The document discusses the implementation of a training process which includes selecting contents and methods, covering logistical aspects, and conducting training either internally or externally. It classifies training according to employee competencies. The implementation process involves developing an instructional plan, manuals, facilities, dry runs to refine the program, pilot training of the full program to smooth out rough areas, and evaluating the implementation and its output of meeting organizational objectives and informing employees.
The document discusses performance appraisals, including their meaning, objectives, benefits, importance, types, and limitations. It defines performance appraisal as the systematic evaluation of an employee's job performance by their supervisor or manager. Performance appraisals are used to provide feedback to employees, determine salary and promotion decisions, identify training needs, and evaluate employee effectiveness. The document outlines various methods of conducting performance appraisals and emphasizes the importance of the appraisal interview in communicating evaluation results and developing employees.
Hi Friends
This is supa bouy
I am a mentor, Friend for all Management Aspirants, Any query related to anything in Management, Do write me @ supabuoy@gmail.com.
I will try to assist the best way I can.
Cheers to lyf…!!!
Supa Bouy
Job Analysis Job Description and Job SpecificationBendita Baylôn Ü
The document discusses job analysis, which is the process of determining the duties and responsibilities of a job, as well as the characteristics needed in candidates for that role. It outlines several uses of job analysis, including recruitment, performance evaluation, and job restructuring. Several methods for collecting job analysis information are presented, such as interviews, questionnaires, observation, and quantitative techniques. Key areas of job specifications that help define what kind of candidates are suitable for a role, such as personal, physical, and mental characteristics, are also summarized.
FINANCIAL STATEMENT AALYSIS OF BAJAJ FINSERV PRIVATE LIMITEDSushantKumar552488
This document is a summer internship project report submitted by Sushant Kumar to Arkha Jain University in partial fulfillment of the requirements for a Bachelor of Commerce degree. The report involves analyzing the financial statements of Bajaj Finserv. Sushant analyzed various components of Bajaj Finserv's financial statements such as the income statement, balance sheet, cash flow statement, and financial ratios to evaluate the company's performance and financial position. The analysis provides insights into Bajaj Finserv's profitability, liquidity, solvency, and overall financial health.
Financial Statement Analysis of Square Pharmaceuticals Company LimitedMohammad Istiaq Hasan
The report was prepared for the requirement of course 'F-206, Financial Management' under the academic supervision of the course instructor, Nausheen Rahman, Professor, Department of Finance, University of Dhaka. I along with my group members tried to cover all of the relevant topics of Financial Management in this report.
This document discusses key factors in selecting transportation modes for shipping goods, including the nature of the freight, packaging and handling, volume, transit times, and ability to track shipments. It also outlines the major transportation modes of rail, motor carrier, air, and water. Finally, it briefly discusses the effects of transportation on business profits and the role of transportation in the economy.
Training Methods Used in Eastern Bank Limited, BangladeshImtiaz Noor
Eastern Bank Limited uses various training methods for its employees. New employees receive 5-7 days of orientation training that covers the organization and HR division. In-house training is conducted by the bank's own trainers and covers materials relevant to the organization's needs. Job instruction training involves employees learning from supervisors or coworkers. Need-based local and foreign training is conducted externally. E-learning and computer-based training includes mandatory courses. Vestibule training uses equipment in a special training area. Conferences and seminars allow attendees to learn from other companies. Surveys found that around 10% strongly agree and 30% agree that they are interested in and satisfied with the training methods.
The document discusses the human resource management practices of Akij Group, one of the largest conglomerates in Bangladesh with over 50,000 employees, outlining their recruitment and selection process, training opportunities, compensation and benefits, and compliance practices for their various business units. It also includes an organizational chart of Akij Group and lists their 26 business units across various industries.
Role and Responsibilities HR Executive in a CompanyYour HR World
A human resources manager oversees all aspects of workforce development and management for her employer, ensuring the company is appropriately staffed.
Aarong is a social enterprise and leading fashion house in Bangladesh that supports over 65,000 artisans. This study analyzes Aarong's human resource policies and practices, including their recruitment process, HR department structure, employee benefits, and training programs. Based on observations and findings, recommendations are provided such as improving compensation packages, addressing competency gaps through training, and hiring more HR personnel. The conclusion states that Aarong promotes Bangladeshi culture while empowering artisans.
Thesis presentation on evaluate the employees training & development prac...Ahmad Kawser Zohair
This presentation evaluates the employee training and development practices of First Security Islami Bank Limited. It has the following objectives: to inform about the bank's HR department, examine training programs, identify training issues, and suggest recommendations. The methodology includes primary sources like interviews and observations, and secondary sources like annual reports. The bank provides various on and off-the-job training programs covering areas like banking, accounting, credit management. However, issues identified include a lack of clear training methods, no needs assessment process, and inadequate pre-and post-training evaluation. Recommendations are made to address these issues to improve training effectiveness.
The document provides background information on National Commerce and Credit Bank Ltd (NCCBL) in Bangladesh. It discusses NCCBL's history, organizational structure, products/services, branches, board of directors, and financial performance. During his internship at NCCBL's Banani branch, the author helped with various general banking activities like opening accounts, processing payments/deposits, providing account balances and closures. He also assisted with other administrative tasks such as file/document arrangement. The objective of the internship was to gain practical banking experience and apply academic knowledge.
This document discusses recruitment and selection processes. It defines recruitment as discovering potential applicants for organizational vacancies. The recruitment process involves planning, searching, evaluation, and control. Key factors in recruitment include sources of applicants and challenges faced by HR like globalization and lack of motivation. Selection is picking qualified candidates from the applicant pool. The selection process involves matching organizational needs with candidate skills through steps like screening and evaluation. Recruitment encourages applications while selection attempts to reject unsuitable candidates. Selection follows and is more expensive than recruitment.
This document provides information about a study on employee welfare facilities at HLL Lifecare Limited in Kanagala, India. It includes the company profile, objectives of the study which are to study existing welfare facilities, employee opinions, satisfaction levels, and suggestions for improvement. The methodology involved questionnaires and interviews. Key findings were that 90% of employees were aware of welfare facilities but 10% were not, and 70% felt satisfied with current facilities. Suggestions included improving canteen food quality and providing transportation for contract workers. The conclusion is that welfare facilities play an important role in employee motivation and productivity.
Recruitment, Selection and Hiring Policy of The City Bank Ltd.Musabbir Rahim
The document discusses the recruitment, selection and hiring process of The City Bank Ltd. It provides definitions and differences between recruitment, selection and hiring. It then details the bank's recruitment and selection process, which includes advertising openings, screening candidates, interviews, making job offers, medical tests and hiring. It also discusses internal recruitment policies and procedures. Major findings are that the bank uses centralized recruitment coordinated by HR, and the selection process can be time-consuming. Recommendations include improving the sorting of CVs, developing an online employee database, providing training, and making some selection decisions centrally to reduce time.
MCB was established in 1947 before the partition of India and Pakistan to meet the banking needs of Muslims. It is now one of Pakistan's leading banks with over Rs. 300 billion in assets and 1,000 branches nationwide. MCB's human resource management processes include forecasting staffing needs, recruiting both internally and externally, testing candidates, conducting interviews, and providing orientation for new employees to prepare them for their roles at MCB.
The document discusses the importance of training and development in the banking sector of Bangladesh. It provides details on the types of training programs conducted at Dhaka Bank, including orientation for new employees, on-the-job training, and off-the-job classroom or lecture-based training to improve employee performance. It emphasizes that regular training is needed to equip employees with new skills and knowledge to adapt to changes in banking and meet organizational goals.
Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses.
The primary objective of the study is to lay the foundation for training and development at Tech Mahindra. Secondary objectives are to understand the current training process, apply learning in human resources, understand the importance and stages of training programs, and understand international assignment training. The scope of the study provides an opportunity to explore the field of human resources and gain exposure interacting with high-level managers through feedback on the training process.
This document discusses training and development (T&D) in organizations. It defines T&D and explains how training needs are determined and objectives are established. Various T&D methods are identified, such as classroom programs, mentoring, coaching, role playing and simulations. The document also describes how T&D programs are implemented, evaluated, and how they help organizations compete. It defines orientation and its purposes. Finally, it discusses organizational development techniques like survey feedback, quality circles, team building and sensitivity training.
The document discusses the implementation of a training process which includes selecting contents and methods, covering logistical aspects, and conducting training either internally or externally. It classifies training according to employee competencies. The implementation process involves developing an instructional plan, manuals, facilities, dry runs to refine the program, pilot training of the full program to smooth out rough areas, and evaluating the implementation and its output of meeting organizational objectives and informing employees.
The document discusses performance appraisals, including their meaning, objectives, benefits, importance, types, and limitations. It defines performance appraisal as the systematic evaluation of an employee's job performance by their supervisor or manager. Performance appraisals are used to provide feedback to employees, determine salary and promotion decisions, identify training needs, and evaluate employee effectiveness. The document outlines various methods of conducting performance appraisals and emphasizes the importance of the appraisal interview in communicating evaluation results and developing employees.
Hi Friends
This is supa bouy
I am a mentor, Friend for all Management Aspirants, Any query related to anything in Management, Do write me @ supabuoy@gmail.com.
I will try to assist the best way I can.
Cheers to lyf…!!!
Supa Bouy
Job Analysis Job Description and Job SpecificationBendita Baylôn Ü
The document discusses job analysis, which is the process of determining the duties and responsibilities of a job, as well as the characteristics needed in candidates for that role. It outlines several uses of job analysis, including recruitment, performance evaluation, and job restructuring. Several methods for collecting job analysis information are presented, such as interviews, questionnaires, observation, and quantitative techniques. Key areas of job specifications that help define what kind of candidates are suitable for a role, such as personal, physical, and mental characteristics, are also summarized.
FINANCIAL STATEMENT AALYSIS OF BAJAJ FINSERV PRIVATE LIMITEDSushantKumar552488
This document is a summer internship project report submitted by Sushant Kumar to Arkha Jain University in partial fulfillment of the requirements for a Bachelor of Commerce degree. The report involves analyzing the financial statements of Bajaj Finserv. Sushant analyzed various components of Bajaj Finserv's financial statements such as the income statement, balance sheet, cash flow statement, and financial ratios to evaluate the company's performance and financial position. The analysis provides insights into Bajaj Finserv's profitability, liquidity, solvency, and overall financial health.
Financial Statement Analysis of Square Pharmaceuticals Company LimitedMohammad Istiaq Hasan
The report was prepared for the requirement of course 'F-206, Financial Management' under the academic supervision of the course instructor, Nausheen Rahman, Professor, Department of Finance, University of Dhaka. I along with my group members tried to cover all of the relevant topics of Financial Management in this report.
This thesis examines the determinants of working capital management policy for 53 Pakistani companies over 6 years from 2005-2010. Cash conversion cycle is used as the dependent variable, and current ratio, fixed assets to total assets, natural log of total assets, return on assets, and operating cash flow are used as independent variables. Regression analysis finds that the independent variables explain 21% of the variation in cash conversion cycle. The results provide insight into how different firm characteristics impact working capital management policies in Pakistan.
Muhammad Irfan is applying for a managerial position and has over 17 years of experience in manufacturing, textiles, services, and trading companies. He currently works as the Manager of Finance and Accounts at Karachi Lubricants (Pvt.) Limited, where he oversees accounting, budgeting, reporting, and training staff. Irfan has a degree in economics and an MBA in finance and accounting, and provides his resume and references for consideration.
This document provides information about ratio analysis and various ratio formulas. It begins by explaining that ratio analysis is used to gain insight into a company's financial health and performance by comparing quantitative information from financial statements. It then lists and defines various types of ratios including liquidity ratios, profitability ratios, working capital ratios, capital structure ratios, and overall profitability ratios. For each ratio type, formulas to calculate specific ratios like current ratio, return on investment, debt equity ratio, and overall profitability ratio are provided.
The document provides background information on Changhong, a Chinese manufacturing company. It discusses Changhong's history, vision, mission, organizational structure, products, services and strategies. Key points include:
1) Changhong is one of the largest consumer electronics companies in China with over 72,000 employees and revenues of $7.6 billion in 2009.
2) It produces a wide range of products including air conditioners, refrigerators, TVs and has manufacturing facilities in China and subsidiaries overseas.
3) The document outlines Changhong's vision, mission and strategies to develop smart home, community and city products and services through new technologies and a customer-centric approach.
This document summarizes the key discussions and findings from an Employers Forum focused on military recruitment. The forum aimed to help employers develop business cases for recruiting veterans by sharing best practices. Participants discussed attracting, selecting, transitioning, and developing military talent. The top activities for a business case were identified as internships, skills training, and insight events due to their high benefits and costs. Breakout sessions provided case studies on each stage. A survey found most employers understand benefits but lack dedicated resources. Moving forward, further research and special interest groups will help employers strengthen their military recruitment programs.
The document provides details about Golam Saroar Parvez's internship report on the deposit and loan products of National Credit and Commerce Bank Limited (NCCBL) in Bangladesh. It includes an introduction, objectives of the report, methodology, limitations, background of NCCBL, its mission, vision, objectives, and organizational structure. The report focuses on analyzing NCCBL's various deposit and loan products, lending procedures, and identifying some issues to provide recommendations.
Financial Performance Analysis of The Acme Laboratories Ltd.Shourav Mahmud
The document provides an overview of a dissertation report submitted by Shakir Mahmud Shourav to Prof. Dr. Md. Serajul Islam on the financial performance of Acme Laboratories Ltd. The report includes an introduction, literature review on ratio analysis, findings and analysis of Acme's financial performance over the last 5 years, and recommendations. It discusses Acme Laboratories' history, products, mission, vision and financial analysis to evaluate its performance.
HRM activities of Trouser World (Pvt.) Ltd. and Employees Recruitment & Selec...Md. Shahadat Hossain
Trouser World (Pvt.) Ltd. is a leading garments manufacturer in Bangladesh that produces denim and non-denim apparel. The document provides an overview of Trouser World, including its background, organizational structure, management, production capacity, social programs, and SWOT analysis. It describes Trouser World's recruitment and selection process as the focus of the internship. The intern aims to analyze and understand the full recruitment and selection procedures through their work in the HR department.
This document provides an overview of the literature related to balanced scorecards and performance measurement in organizations. It begins by discussing the importance of strategy and performance measurement for organizations. It then introduces the balanced scorecard concept developed by Kaplan and Norton, which uses four perspectives - financial, customer, internal processes, and learning and growth - to translate strategy into objectives and measures. The literature highlighted that balanced scorecards can help improve communications, align business activities with strategy, and monitor overall performance. It also discussed each of the four perspectives in more detail and how they work together. The document provides relevant background information and establishes a framework for understanding balanced scorecards and how they can be used to measure organizational performance.
My Thesis on Supply chain Management In the Oil & Gas industrySarahRouguine
A thesis that examines the increasing importance of supply chain agility for oil and gas service companies , in the
highly volatile and complex oil and gas industry
The document discusses treasury operations at Numaligarh Refinery Limited (NRL) in India. It outlines the objectives of NRL's treasury operations which include managing funds, ensuring timely payments, monitoring collections, and managing the payment-collection cycle. The study finds that NRL's key treasury functions are to optimize the cost of funds, balance working capital loans and cash credits, and verify cash balances daily. The finance department oversees the refinery's treasury, accounts, and other financial operations.
The document summarizes a study on treasury management at Numaligarh Refinery Limited in India. It includes:
- An overview of the refinery's organizational structure and departments involved in treasury operations.
- A definition of treasury management and its importance for businesses.
- Details of the study's objectives, methodology, and findings related to cash management techniques, banking functions, and surplus fund investment practices at the refinery.
The study examines the treasury operations at the refinery to understand practical aspects of cash management in a corporate environment.
An Internship Report On “Internal Audit & Control Practice of Garments Manufa...Talukder Abdulla-Al-Mamun
This document is an internship report submitted by Talukder Abdulla-Al-Mamun, an MBA student at Daffodil International University, as partial fulfillment of the requirements for an MBA degree with a major in finance. The report studies the internal audit and control practices of Lantabur Group, a garments manufacturing company in Bangladesh. It provides an introduction to the RMG industry in Bangladesh and the importance of internal audit and control for sustainability. The report includes chapters on the company profile, literature review of internal auditing and controls concepts, the audit department at Lantabur Group, findings from the internship, recommendations, and conclusions.
This document provides details about a project report on the payroll management and welfare measures of Hero Cycles in Bihta, Patna. It includes an introduction to Hero Cycles, an acknowledgements section, a declaration, an index, and sections on the literature review, research methodology, analysis, payroll system, welfare measures, production process, findings, and conclusion. The document serves as a student's project report submitted for their MBA program.
PRAN is a leading food and beverage company in Bangladesh that was founded in 1981. It has grown to become one of the largest and most successful companies in Bangladesh, challenging multinational companies. PRAN produces over 200 products across 10 categories including juices, drinks, mineral water, bakery items, carbonated beverages, snacks, culinary products, confectionery, biscuits and dairy. The company has a mission to alleviate poverty and hunger through employment. It has a large domestic market share in Bangladesh and also exports products to over 80 other countries.
Here is my report on PRAN-RFL group
// TEAM STARK //
- American International University Bangladesh -
Take Idea from this report but do not copy from this ...
Human Resource Practices in Software CompanyFakrul Hassan
This document is a report on HR practices at vQsolution Ltd submitted by Fakrul Hassan as part of his MBA coursework. It includes an introduction outlining the background and purpose of the report, as well as sections on literature review, the organization, findings and suggestions, and a conclusion. The report aims to analyze vQsolution's HR processes and identify areas for improvement, such as compensation packages, performance appraisals, and employee engagement, in order to enhance organizational performance.
Why bridging the gap between PR and SEO is the only way forward for PR Profes...Isa Lavs
The lines between PR and SEO are blurring. SEOs are increasingly winning PR briefs by leveraging data and content to secure high-value placements. In this presentation, I explore the merging of PR and SEO, highlighting why SEO specialists are increasingly taking ‘PR’ business. I uncover the hidden SEO potential using PR tactics and discuss how to identify missed opportunities. I'll also offer insights into strategies for converting PR initiatives into successful link-building campaigns.
Compitive analysis on Noise pvt Ltd.pptxSauravDey45
ChatGPT
Competitive Analysis: Noise Smartwatch
Overview
Noise is an Indian electronics brand that primarily manufactures smartwatches, wireless earphones, and other electronic accessories. Noise smartwatches have gained significant popularity due to their affordable pricing, feature-rich offerings, and stylish designs. The competitive landscape for Noise smartwatches includes both local and international brands that cater to various market segments. This analysis will focus on key competitors, market positioning, product features, pricing strategies, and consumer preferences.
Key Competitors
Amazfit (Huami):
Strengths: Known for excellent battery life, robust fitness tracking, and premium build quality.
Weaknesses: Slightly higher price points compared to Noise.
Products: Amazfit Bip U, Amazfit GTS series.
Realme:
Strengths: Strong brand presence, integration with Realme smartphones, and aggressive pricing.
Weaknesses: Limited variety in smartwatch models.
Products: Realme Watch, Realme Watch S.
Boat:
Strengths: Competitive pricing, appealing designs, and extensive marketing.
Weaknesses: Relatively new to the smartwatch market, which may affect consumer trust.
Products: Boat Storm, Boat Flash.
Samsung:
Strengths: High brand credibility, advanced features, and premium design.
Weaknesses: Higher price points make it less accessible to budget-conscious consumers.
Products: Galaxy Watch Active 2, Galaxy Watch 3.
Xiaomi:
Strengths: Strong ecosystem integration, affordable pricing, and extensive features.
Weaknesses: Less focus on premium design compared to some competitors.
Products: Mi Band series, Mi Watch.
Market Positioning
Noise positions itself as an affordable yet feature-rich alternative in the smartwatch market. Its target demographic includes budget-conscious consumers and fitness enthusiasts who seek value for money without compromising on essential features like fitness tracking, notifications, and battery life. Noise leverages its strong online presence and partnerships with e-commerce platforms to reach its audience effectively.
Product Features Comparison
Noise Smartwatches:
Key Features: Heart rate monitoring, SpO2 tracking, multiple sports modes, customizable watch faces, notifications, and music control.
Battery Life: Typically lasts 7-10 days on a single charge.
Build Quality: Focus on lightweight and comfortable designs with water-resistant capabilities.
Amazfit Smartwatches:
Key Features: Advanced fitness tracking, GPS, AMOLED displays, and long battery life (up to 20 days).
Battery Life: 10-20 days depending on the model.
Build Quality: Premium materials and durable designs.
Realme Smartwatches:
Key Features: Basic fitness tracking, SpO2 monitoring, and notifications.
Battery Life: Up to 9 days.
Build Quality: Sleek designs but slightly limited in variety.
Boat Smartwatches:
Key Features: Heart rate monitoring, multiple sports modes, and customizable watch faces.
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2. Internship report:
Effectiveness of Invoice Processing System to
meet the On Time Payment objective of
Chevron Bangladesh
Prepared For:
Ms. Ummul Wara Adrita
Lecturer, BRAC Business School
Prepared By:
Tanvir Ahmed
ID: 11304049
Date of Submission: 7th
June, 2016
Page | 2
3. Letter of Transmittal
7th
June, 2016
Ms. Ummul Wara Adrita
Lecturer
BRAC Business School
BRAC University
66 Mohakhali,
Dhaka 1212
Subject: Submission of Internship report
Dear Miss,
With humble respect and regard, I am pleased to present the Internship report. This report is a
result of the Internship program that I have been included for three months in Chevron
Bangladesh.
This three month long internship is a huge experience for me for practical learning and also set
this up report required for BUS 400 course as a prerequisite to complete my Bachelor's degree.
The report contains the function of Chevron in Bangladesh and specifically focusing on the
Finance department and invoice processing system and its effectiveness on paying on time.
Because of some restriction by the host organization an itemized picture couldn't be depicted.
Regardless of this I attempted to set this up report giving my best exertion inside my extension to
cover all part of the subject.
Yours Sincerely,
_____________
Tanvir Ahmed
ID: 11304049
Page | 3
4. Acknowledgement
Firstly, I gravely thank the Almighty Allah for blessing me with this immense opportunity to
work in such an organization and my appreciation to the individuals who helped me preparing
internship report.
I want to pass on my genuine appreciation to the accompanying individuals who guided me all
through this time in my work place and on this internship report. I am especially grateful to Mr
Jubaidur Rahman Khan, AP supervisor, Chevron Bangladesh and MD. Salahuddin Shah, AP
lead, Chevron Bangladesh. On account of their understanding and direction it was feasible for
me to get the functional experience and comprehend the real life understandings.
I want to express my genuine appreciation to my Internship Supervisor and honorable faculty of
BRAC University, Ms. Ummul Wara Adrita for her brilliant direction and support amid the
readiness of the report. Simply, it would have never been possible for me to prepare this report
without the support and guideline of my instructor. My gratitude extends to them, who have
helped me at all possible aspects in preparing this report.
Page | 4
5. Table of Contents Page No
Executive Summary……………………………………………………………………………………………………6
1. Introduction…………………………………………………………………………………………………………………7-9
1.1 Origin………………………………………………………………………………………………………………….7
1.2 Global Depiction………………………………………………………………………………………………….7
1.3 Strategies to meet target…………………………………………………………………………………….7
1.4 Products………………………………………………………………………………………………………………8
1.5 Operational Excellence (OE)……………………………………………………………………………….8-9
2. Analysis…………………………………………………………………………………………………………………….9-11
2.1 SWOT Analysis…………………………………………………………………………………………………….9
2.2 Porter’s Five Forces…………………………………………………………………………………………….9-10-11
3. CHEVRON BANGLADESH…………………………………………………………………………………………..11
4. Chevron Finance……………………………………………………………………………………………………….12-15
4.1 Transaction Processing………………………………………………………………………………………..13-15
5. Analysis- Accounts Payable (OTP) 15-20
5.1 Accounts Payable Function………………………………………………………………………………….15
5.2 Accounts Payable Process Flow……………………………………………………………………………15-16
5.3 Invoice Process Flow…………………………………………………………………………………………….17
5.4 Invoice Process Analysis……………………………………………………………………………………….17-19
5.5 Settling dispute/On Hold Invoice………………………………………………………………………….20
6. Limitation of the Study …………………………………………………………………………………… 20
7. Findings- On Time Payment 21-23
8. Recommendation……………………………………………………………………………………………………… 23-24
9. Conclusion………………………………………………………………………………………………………………… 24
10. Reference……………………………………………………………………………………………………………………25
Page | 5
6. Executive Summary
The primary objective of preparing this report is to fulfill the requirement of BBA program. This
internship program is designed to apply the theoretical knowledge gained from the coursework
of the BBA program in a specific field.
First of all this report include about the organization Chevron, the history of Chevron and the
operations of Chevron in Bangladesh. In addition, I have tried to depict the effectiveness of
Invoice processing system of Accounts Payable department of Chevron Bangladesh Finance
division in terms of meeting the on time payment.
In addition, this report focused on specifically on the function of Invoice processing procedure of
Chevron Finance team. I have briefly discussed on Chevron’s finance department function and
how the invoices are processed in order to meet the on time payment as per the contract. All the
data are taken from Accounts Payable of Finance division. This data is a sample size taken
during my three month tenure in the host organization and on the basis of these three month, data
are analyzed.
Due to host organizations agreement I had to ensure that their data privacy and safety is not
hampered by any information provided in this report. So I tried to prepare this report within the
scope and limitation.
Page | 6
7. 1. Introduction
1.1 Origin
Established in 1879 in San Francisco Chevron started their journey as Pacific Coast Oil Co. Its
name has been changed more than once. Now it is operating as the brand name of “CHEVRON”
globally as a multinational energy corporation. Its current headquarter is in San Ramon,
California. Chevron has current active operation more than 180 countries around the world
engaged in exploring, produce and transport crude oil and natural gas; refine market and
distribute transportation fuels and lubricants; manufacture and sell petrochemical products;
generate power and produce geothermal energy; provide energy efficiency solutions; and
develop the energy resources of the future, including bio-fuels.
1.2 Global Depiction
Based on market capitalization (2015) Chevron is the second largest integrated energy company.
With a diverse and highly skilled global workforce approximately 61,500 employees and around
3,300 service station employees are under Chevron Corporation. Around the world Chevron
produces 2.622 mill net oil- equivalent barrels per day and approximately 73 percent of it outside
USA around 20 different countries. With return of 2.5 percent on capital employed Chevron
netted income approximately $4.6 billion attributable to Chevron Corporation as per last fiscal
year.
1.3 Strategies to meet target Globally
Make shareholder esteem and accomplish sustain financial return from operations that will
empower Chevron to outperform competitors.
Invest in individuals to reinforce authoritative capacity and build up a capable worldwide
workforce that gets results the correct way. Execute with greatness through thorough utilization
of the organization's operational excellence and capital stewardship frameworks and disciplined
cost management. Become profitable by utilizing competitive advantage to amplify esteem from
existing resources also, capture new opportunities.
Page | 7
8. 1.4 Products:
Around the world Chevron markets its products through its three brands: Chevron®, Texaco®
and Caltex™. These brands have higher rankings and market value in the United States and
across the world.
In the year 2001 Chevron merged with Texaco to gain competitive advantage in USA over their
entrants. While Caltex was owned by both Chevron and Texaco after the merge it came under
Chevron Corporation.
• Under the Texaco brands, Chevron serves retail, commercial and industrial, and aviation
fuel customers in the United States, Latin America, West Africa and Caribbean.
• For the Asia-Pacific region and the Middle East they market the petroleum products through
Caltex.
1.5 Operational Excellence (OE)
Chevron believes in Operational Excellence (OE), a framework they have extended that support
culture of safety, environmental stewardship and top performance. Chevron believes that
incidents are preventable and they have policies, devices, tools and behavioral expectations in
place to assist in achieving that goal through their workforce. Chevron's OE safety culture is
based on 10 Tenets of Operation, a code of conduct that employees and contractors use and that
supervisors and managers reinforce. The tenets are based on two key principles:
• Do it safely or not at all.
• There is always time to do it right.
In addition, the tenets call for always involving the right peoples — those most knowledgeable,
experienced or familiar — in decisions affecting safety procedures and equipment.
Always operate within design and environmental limits.
Always operate in a safe and controlled condition.
Always ensure safety devices are in place and functioning.
Always follow safe work practices and procedures.
Always meet or exceed customers’ requirements.
Always maintain integrity of dedicated systems.
Always comply with all applicable rules and regulations.
Page | 8
9. Always address abnormal conditions.
Always follow written procedures for high-risk or unusual situations.
Always involve the right people in decisions that affect procedures and equipment.
2. Analysis
2.1 SWOT analysis-
An overall SWOT analysis of Chevron Corporation is given below. This analysis is done
considering the current situation.
Strengths Weaknesses
• Chevron is the 11th
largest oil and gas corporation
and 28th
in terms of capital according Forbes 2000
biggest public companies
• More than 100 years of experience
• Operations across 180 countries
• Experienced man power and use of updated
technology
• Merging and acquisition with related corporation to
gain competitive advantage
• Spending on alternative energy
• Investment in high profile projects
• Decline of oil price
• Slight decline in oil and gas reserves in mature plants
• Unstable global political situation
• USA recession
Opportunities Threats
• Never ending need of energy
• Upstream projects
• Continued field discoveries in Asia pacific countries
• Investment in Bio-fuels and alternative energy
sources
• Global recession
• Slow demand of oil in BRIC countries
• Environmental issue
• Alliance of other energy corporations and forming
cartel
• Civil war
2.2 Five Forces Analysis
The five forces model is a framework that is used to assess the inside variables influencing
rivalry and the outside components influencing bargaining power. This comprehends the
business and what procedures are expected to be taken to gain competitive advantage. The inside
elements of the business are characterized through the rivalry of existing firms, the threat of new
entrants and the risk of substitute products.
Rivalry Among Existing Firms (Low)
Bargaining Power of Suppliers (Moderate)
Bargaining Power of Customers (Low)
Threat of New Entrants (Low)
Page | 9
10. Threat of Substitute Products (Low)
Existing Rivalry:
Limited competition between energy corporations
Cartels control regionally
Government control
Large industry size
Fast industry growth rate
Chevron Corporation (CVX) positioned 3rd
on Forbes 500 list and 2nd
energy corporation in
home country. By merger and acquisition with different subsidiaries Chevron minimized the risk
to some extent while they get competitive advantages across the world.
Bargaining power of Supplier:
Diverse distribution channel so no dependency on single distributor
High competition among suppliers
Since the volume of supply is high and the threat to cut down supply makes the
bargaining power of supply lower.
Page | 10
11. Bargaining power of customers:
Due to inelastic demand buyer are less sensitive to prices
Since the price is standardized all over the world; gives the customer less bargaining
power
Higher number of customer leads to zero leverage of bargaining capacity
Since the numbers of producers are limited considering the number of consumers’, producers
gets the leverage over consumers and the chances of bargaining power is less since the market is
inelastic.
Threat of new entrants:
Natural resources exploration is costly which requires higher capital
Advanced technologies
Strong distribution channel
Bureaucratic support needed
Geographical factor
Entry Barrier
Threat of substitute products:
Number of substitute product is limited
Substitute products is not adequate to meet the demand
Substitute has a lower performance
High cost of switching into substitute
Although research is going on renewable and alternative energy the result is not significant and
will take longer time to make something feasible similar to the existing product.
3. Chevron Bangladesh
Chevron Bangladesh and its auxiliaries have been dynamic in gas exploration since the country
is enriched with this mineral resource. Being a largest foreign investor in the country Chevron
supplies approximately 50 percent of country’s natural gas consumption. Chevron is operating
through three Blocks in the country in Sylthet region commonly known as Block 12, 13 and 14.
Page | 11
12. Their first exploration took place in the year 1999 in the Jalalabad gas field (block 13) and came
into operation in 19999 followed by two more fields Moulovi Bazar and Bibiyana. All natural
gas and condensate produced by Chevron sold to Petro Bangla, the national oil company under
the project sharing contract.
Chevron supporting Bangladesh's objective to lessen the country's dependence on imported
energy resources by effectively putting resources into undertakings that convey more gas to
Petro bangla. Chevron, having contributed almost a US$ 1 billion, is one of the biggest outside
speculators in the vitality area of Bangladesh. Approximately 643 mil cubic feet of natural gas
and 2,000 barrels of condensate are produced daily. Chevron's vision is to work in association
with the Government of Bangladesh and Petro bangla, to build up the nation's energy resources
in a safe, ecologically capable and productive way for the advantage of the general population of
Bangladesh.
Around 2,700 individuals work for Chevron Bangladesh, of which roughly 90% are Bangladeshi
nationals. Working across the world around 180 countries for more than 100 years Chevron
brings the experience to Bangladesh guaranteeing sheltered, dependable, financially savvy and
proficient operation from all its fields following 1999.
4. Chevron Finance
Chevron Finance activities can be segmented into four major areas-
Transaction Processing
Close and Report
Performance and Decision
Internal control and Compliance
Based on these four major areas other sub-divisions are there to support and the responsibility is
shared.
As Chevron is an USA registered corporation it follows the GAAP accounting system. GAAP or
Generally Accepted Accounting Principles are a “common set of accounting principles,
standards and procedures” used by companies to provide “investors with a minimum level of
consistency in financial statements.” Chevron has developed its own internal guidelines, Guide
Page | 12
13. to Corporate Accounting (GCA), to provide for consistent application of GAAP within Chevron.
All Finance groups within SASBU are then charged with following and demonstrating
compliance with these accounting principles.
4.1 Transaction Processing:
4.1.1 Procure to pay accounting:
Accounts payable is a file or account sub-ledger that records amounts that a person or company
owes to suppliers, but has not paid yet (a form of debt), sometimes referred as trade payables.
When an invoice is received, it is added to the file, and then removed when it is paid. Thus, the
A/P is a form of credit that suppliers offer to their customers by allowing them to pay for a
product or service after it has already been received. When the company receives an invoice,
additional transactions are added or credited to the Accounts Payable Account and an offsetting
debit to the account is made when it is paid.
In Chevron, the term AP is also used to refer to the group in Finance that performs the primary
function of processing invoices, thereby recognizing liabilities to third parties (suppliers/vendors,
tax authorities, etc) and subsequently issuing payment instruction based on due dates in order for
Treasury to proceed with the disbursement of funds to pay these obligations.
4.1.2 Fixed asset accounting:
Fixed Asset Accounting includes the following activities:
• Capitalizing new assets upon project completion.
• Ensuring new assets are properly categorized and
recorded in financial books.
• Processing asset retirements.
• Performing physical assets verification.
• Handling accounting for various Capital leases.
• Reconciling the Fixed Asset Ledger to the General
Ledger.
Fixed assets are those assets which are:
Page | 13
14. • Used in a productive capacity
• Have physical substance
• Are relatively long lived
• Provide future benefit which is readily measurable
4.1.3 General ledger:
GL processes of overseeing, coordinating, and controlling the accounting framework and records
of the corporation. It includes maintaining the GL, establishing/compliance of accounting
policies and procedures, enforcing approval limit and governing a common financial system
platform. General Ledger also includes preparing the detailed trial balance and managing
integration with sub-ledgers/systems (e.g. accounts payable).
4.1.4 Tax:
Tax Group is responsible for the compliance with country’s tax law.
• Concessions - Tax calculation; tax reconciliation; tax payments; tax estimate; trade
balance; tax return; forecast report.
• Non-Income Taxes – Training tax calculation; provide tax payments to treasury; tax
certificates process.
• Audit – Tax compliance; provide information to auditors; concessionary and partners;
support on tax claims.
• Tax Legal - Provide legal advice on Angola tax-related- issues to internal customers;
preparation of tax claims.
4.1.5 Treasury:
Treasury Management responsibilities include the following: Cash Management, Financial Risk
Management, External Financing and making payments on behalf of Chevron.
Cash is a limited resource with a 'time value' i.e., money available at the present time is worth
more than the same amount in the future, due to its potential earning capacity.
The availability of cash, even temporarily, carries a value:
• Borrowers pay interest to use money that is not theirs.
Page | 14
15. • Lenders earn interest by allowing others to temporarily use their available money.
Hence, cash balances must be managed and maintained at optimal levels to maintain
profitability. Treasury ensures that the company cash balances are neither too high nor too low,
but just right to support the operations.
5. Analysis
Accounts Payable- On Time Payment (Invoice Process)
5.1 AP function:
Accounts Payable is the sub-division of Chevron Finance department which receives all the
payment invoices from the suppliers/vendors, which is a liability of Chevron needed to be paid
as par the contract. After receiving the invoice additional transactions are added or credited to the
Accounts Payable and an offsetting debit to the account is made when it is paid.
In Chevron, the term AP is also used to refer to the group in Finance that performs the primary
function of processing invoices, thereby recognizing liabilities to third parties (suppliers/vendors,
tax authorities, etc) and subsequently issuing payment instruction based on due dates in order for
Treasury to proceed with the disbursement of funds to pay these obligations.
Specifically, the Accounts Payable group is responsible for processing vendor invoices and
ensuring that invoice payments comply with Company policies.
5.2 AP Process Flow:
As the Accounts payable bears the liability of the payment against the liabilities of the company
it must ensure that all the payments are processed within the policy and according to the contract.
To ensure this the AP team follows a Process Flow to ensure the payment meeting the On Time
Payment (OTP) goal.
Invoice processing task of AP can be categorized into three different methods:
Page | 15
16. For invoice with Contract Work Ticket (CWT) - Fully engaged suppliers submit this
type of invoices against their provided service. They create CWT through Ariba buyer as
a tool to submit invoice to Chevron.
For Standard invoice- Hard copies of invoice send by supplier/vendor for payment.
These types of invoices are processed through- 3 way match.
i. Supplier/Vendor invoice
ii. Service order prepared by the organization
iii. Receiving report against submitted invoice.
For Purchase Order (PO)- Hard copy of invoice is send to AP as voucher and is
checked with SCM whether the products are received or not. If not the payment is hold
till the product is received as par the contract. PO also follows the 3 way match system
with the JDE system.
Generally the payment period is mentioned in the contract/ agreement with the supplier/vendor
and the payment is done processed on time if there is no dispute with the invoice. If any dispute
regarding the submitted invoice, invoice is hold till the problems resolves and process it for
payment.
Page | 16
17. 5.3 Invoice Process flow:
For the better understanding a regular invoice process diagram is shown below-
Fig 1: Invoice Process Flow chart
5.4 Invoice Process Analysis:
As three different types of invoices are received these are processed according to the standard
practice. A detailed analysis of the process is discussed below-
i. Contract Work Ticket (CWT) invoice:
These types of invoices are sent by regular supplier/vendor who provides regular service to the
company. These invoices are generated in Ariba system (online software) through which
supplier/vendor can submit their invoice information and an automated number is generated
against individual suppliers/vendors invoice. This can also be used as a medium of reference
against any submitted invoice. The payment day is fixed as par the contract. Normally this type
Receive invoice
with Finance
Receive seal
For PO check with SCM for
material receive
Track the CWT &
Standard invoices into
Invoice Tracker
Sort Invoices as
PO/CWT/Standard
If received confirm with
Finance and send back
invoice. If not then hold
the invoice and return
upon confirmation
For any dispute/approval
send it to proponent
After receiving
confirmation from
SCM- AP will process
for payment
After resolving dispute send
back to finance for AP
processing with additional 10
days for payment
AP processes
invoices and send
to Treasury for
Page | 17
18. of payment follows N30 (30 days) method from the day of submission of the invoice. Following
are the check list of the invoice:
• Invoice submitted against the correct service provided
• Service provided as par the contract
• Amount invoiced matched with mentioned in the contract
• Authentic invoice submission with CWT and proper seal and signature
• No duplication regarding amount or invoice
• Any other possible dispute
If the invoice fulfills all the criteria and has no dispute the invoice is given input in “Invoice
Tracker” with proper information. For any dispute invoice is sent to the proponent for resolving
the dispute. In case of dispute 10 days are added after and the revise receive date is sealed on the
invoice. After processing the invoice AP processor send the invoice to Treasury for payment
against the invoice.
ii. Standard Invoice:
In case of Standard invoice, invoices are sent by the supplier/vendor in hard copy. Finance
receive this hard copy and invoices are tracker in the invoice tracker and sent to the hard copy is
sent to the proponent or approver to the departments whom the cost was incurred. After getting
the invoice authorized proponent checks the invoice thoroughly and approves it if everything
matched as per the cost incurred. The following invoice is then sent back to finance and with a
“Revised receive” seal finance receives it. Receiving the approved invoice the processor
processes the invoice and sends it to the treasury department for payment.
iii. Purchase Order (PO):
Purchase order invoices are different from the standard and CWT raised invoices. Basically a PO
is submitted against any material receive. As par the contract the supplier/vendor provides
materials and against the provided portion of material they submit the invoice. 3-way match is
done in case of PO.
• Material ordered as par the contract
Page | 18
19. • Material received as mentioned in the invoice
• Material receive confirmation form SCM and JDE system
After the confirmation PO is tracked in two ways-
• Received
• Not received
In case of not received PO’s are kept On Hold till the materials receive confirmation. Once the
confirmation is gives and approved by the SCM and update into the JDE system the hard copy
invoice send to finance which received by the AP team with a revised receive seal and additional
10 days added for payment procedure if it crosses 20 days count after receiving the hard copy of
the PO from the supplier/vendor.
5.5 Settling dispute/On hold invoice:
After the receiving the invoices all the invoices are scrutinized as par the contract before posting
and sending it to treasury for payment. This is also a part of Compliance procedure to make sure
that every payment is done with proper checking. These payments are checked during various
Audit purpose throughout the year.
Any invoice having dispute is contacted to the proponent from the AP processor end and send it
to the proponent the contact with the supplier/vendor to make the correction and resolve the
issue.
A process flow regarding On Hold invoices are given below-
Page | 19
20. Fig 2: Diagram showing the On hold invoice procedure.
6. Limitations Of the Study
Although the most convenient procedure is followed in order to generate the most possible and
accurate result but this report has got some findings that were considered while preparing this.
Below are the limitations-
i. Host organizations data privacy system
ii. Not having enough access to generate more data
iii. Some of the detailed functions could not be provided due to my time limitation in this
three month.
iv. Some procedures includes the involvement of other departments involvement, which
I did not have the authorization to access.
The invoice data used in this were past three months reconciliation report as because after the
invoices are processed and payment is cleared those are documented and kept in safe storage and
only designated person get the authorization the use those on demand purpose.
Page | 20
21. 7. Findings
On time payment goal
One of the main objectives of AP team is to achieve the On Time Payment (OTP) target. This is a report
AP team generates after closing of the posting of invoice batches and checks whether they are able to
meet the OTP as par the target rate. Payment date is fixed as par the contract with the vendor however in
case of dispute and issues payment date are delayed and informed to the supplier/vendor from the
proponent or AP processor. There are basically three types of payment day as par the contract-
Within 30 days after submitting the invoice (N30)
Within 15 days after submitting the invoice (N15)
Within 10 days after submitting the invoice (N10)
These payment dates are subject to dispute and issues and may change due to the effect of those.
Most of the cases the due date is met, however in some case the due dates are failed even after some there
is nothing to resolve this subject matter is not concerned in the contract which will be a good scope to
consider and meet the OTP objective.
The finding regarding not meeting the OTP objective is the main purpose of this report and upon this
objective the effectiveness of the AP invoice procedure is measured.
Below shows a graph on OTP achievement of first quarter of the Yr.2016.
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22. Fig 3: OTP achievement Yr.2016 first quarter
Here we can see that maximum failure rate is around 4.6%. It means that out of 1665 invoices
76.59 invoices could not be paid on time. These happened due to some following factors which
were not considered during the contract regarding the payment date with the supplier/vendor.
Following are the factors responsible for which OTP could not meet-
N30/15/10-
These N30/15/10 days are agreed on the contract without consider the holidays. For
example if the 30th
day falls on a Friday the payment cannot be done till the next working
day.
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23. Currency Rate issue with Bangladesh Bank (BB)-
Since for Chevron its currency rate is Dollar it has to check the BB dollar rate for a
particular month for USD payments. In cases where they do not get respond from BB on
time for which some cases the payment is delayed.
Dispute/On Hold invoice-
In case of dispute/On Hold invoice processor fails to follow up with the proponent
whether the issue is resolved or not and OTP not met. On the other hand due to standard
practice there remains no track of the invoices send to proponent in some case.
Other Factor-
Other factors also affect the process like invoices are sent form proponents end but not
reached/received in finance team on time. Sometimes the processed invoices are kept
hold in treasury for any further query or issue delays the payment of the supplier/vendor.
8. Recommendation
As Chevron is a multinational corporation it operates alike its other global subsidiaries. Chevron
believes in doing it right which gives its employees to figure out the loop holes in areas where it
can achieve maximum success. In respect of achieving the OTP objective it can follow some of
the factors which will ensure the minimum level of errors and help achieve the objective.
Recommendation is done by the observation and possible suggestion which might be different in
respect to subject-
N/30/15/10 day’s agreement considering the holidays. That means if the last payment
date is a holiday next working day will be considered as the last day.
An agreement with Bangladesh Bank to provide the USD rate on time in every month
starting with no prior request.
AP processor will keep a follow up through invoice tracker and personally with the
proponent/SCM ≥10 days before the payment date for the update.
Revised invoices should directly be sent to processor and let know personally from
proponent/SCM end.
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24. Aforementioned are some of the steps can be taken to reduce the error rate to meet OTP
objective. There are restrictions or standard practices that have been followed for longer time
period for which implementing this course of actions will take time.
9. Conclusion
Chevron is a wholly owned subsidiary and one of the largest producer and investor in the field of
energy. Beside the regular energy sources Chevron also invests in alternative and renewable
energy resources. Chevron’s has a huge investment in geothermal energy and one of the largest
producers of it Chevron also are tapping into new sources of hydrocarbons in hard-to-reach areas
and unlocking the potential of alternative energy sources. Chevron’s research on second-
generation bio-fuels is looking for opportunities to use fuel sources that do not compete with
food supplies. Even though alternative and renewable energy sources are becoming a big factor
in the energy sector still fossil fuel will be the major source of energy for world’s energy supply
for decades.
In addition, Chevron keep attempting to enhance productivity — the biggest accessible asset for
energy security. From 1992 to the end of 2009, Chevron has expanded the energy productivity of
our worldwide operations by 30 percent. Through Chevron Energy Solutions, Chevron is helping
different clients, in government and private divisions, to do likewise. Also, Chevron is
contributing their assets and skill to discover better approaches to convey the world needs to fuel
monetary develop.
Much of their work is through partnerships. Partnerships — between governments and industry
and between producers and consumers — are key to providing the world with the energy needed
for human progress.
As the largest foreign investor and tax payer in Bangladesh, Chevron not only meets energy need
of the country but also serves the community through different social activities under their
Corporate Social Responsibility (CSR). Their effective community work helps the development
of the society while ensure the betterment of the next generation.
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25. 10. Reference
1. CHEVRON POLICY, G. A. P. A.
Chevron Corporation - Human Energy, (Chevron Policy, 2016), Chevron Policy, G. (2016). Chevron Corporation -
Human Energy. chevron.com. Retrieved 1 June 2016, from https://www.chevron.com/
2. CORPORATION, C.
Chevron Bangladesh, (Corporation, 2016), Corporation, C. (2016).
Chevron Bangladesh. Chevronbangladesh.com. Retrieved 1 June 2016, from http://www.chevronbangladesh.com/
3. FORTUNE 500
("Fortune 500", 2015), Fortune 500. (2015). Fortune. From http://fortune.com/fortune500/
4. CHEVRON
("Chevron", 2015)
Chevron. (2015). Fortune. Retrieved, from http://fortune.com/fortune500/chevron-3/
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