Sip Rubco.docx

University of Mumbai

A project Report On STUDY OF BILLING PROCESS WITH REFERENCE TO RUBCO Submitted by PRANOY P. EDAMANAKULAM In partial fulfillment for the award of the degree of MASTERS OF MANAGEMENT STUDIES SEMESTER – 3 2018-2019 Under the guidance of Prof. BETTY SIBIL

“MAHATMA EDUCATION SOCIETY’S PILLAI’S INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH SECTOR-16, PANVEL-410206” DECLARATION

I, Mr. Pranoy P.Edamanakulam, student of MMS, Pillai’s Institute of management Studies And Research, hereby declare that I have completed the project report on “ Study Of Billing Process” in the academic year 2018-2019. The information submitted by me for this project report is true to the best of my knowledge.

Date: Place:Panvel

Signature

Certificate of Approval This is to certify that the Project Titled “STUDY OF BILLING PROCESS WITH REFERENCE TO RUBCO” as a part of curriculum of Master of Management Studies submitted by MR. PRANOY P. EDAMANAKULAM a student of Pillai’s Institute Of Management Studies And Research has been approved.

Name: Prof. Betty Sibil Date:

Signature of the guide

CERTIFICATE FROM ORGANIZATION

ACKNOWLEDGEMENTS No task is single man’s effort. Any job in the world however trivial or tough cannot be accomplished without the assistance of others. An assignment puts the knowledge and experience of an individual to litmus test. There is always a sense in a success. The opportunity to express my indebtness to people who have helped me to accomplish this task. I would like to take this opportunity to acknowledge my gratitude to various people who have helped for successful completion of the project. Their systematic guidance has helped me to complete the project in a smooth manner. I am extremely thankful and pay my gratitude towards my mentor Mr. SALIM, who helped me out during my 2 months internship. I feel highly indebted towards the Director of my institute Dr. Satish K. Nair and my faculty guide Prof. Betty Sibil for her constant guidance and support which helped me to make this project successful. I extend my gratitude to my college “Pillai’s Institute Of Management Studies and Research” for giving me this opportunity. Last but not least; it would be unfair if I don’t express my indebtness to my parents and all my friends for their active cooperation which was of great help during the course of my training project. Any omission in the brief acknowledgement doesn’t mean lack of gratitude.

Executive Summary

This is a summer internship, experiential learning based project. This project consists of information about Rubco mattress. Along with the above mentioned this project consist of application of various tools, techniques and skill. It also contains the detailed information about Billing Process. I have tried to put my observation on impact of my company i.e. Rubco and how their mattress department works. The project on “Billing Process” was carried at Rubco Mattress. The duration of the project was two months. These two months are not only limited to learning and devoting time towards the working under policies but it also provided an insight on working in the Company.

TABLE OF CONTENT

Sr. No. 1. 2. 2.1. 2.2. 2.3. 2.3.1 2.3.2 2.3.3 2.4. 2.4.1 2.4.2 3. 3.1. 3.2. 3.3. 4. 4.1. 4.2. 4.3. 4.4. 4.5. 5. 5.1 5.2.

Particular PART A INTRODUCTION OF THE PROJECT BRIEF COMPANY PROFILE Organization History Top Management Other Divisions Turnover Geographic Employees Vision and Mission of the Organization Vision Mission INDUSTRY ANALYSIS PESTEL PORTER’S FIVE FORCES ANALYSIS PORTER’S GENERIC STRATEGIES COMPANY ANALYSIS SWOT 7S Framework to Analysis Value Change Analysis BCG Ansoff Matrix PART B INTRODUCTION Objective of the Study Expected Benefits

Page No.

8-9 10 10 10 11 11 11 11 12 12 12 13 13-15 16-18 19 20 20-21 22-23 24-25 26-27 28 29 30 31

5.3. 6. 6.1.

Limitation of the Study METHODOLOGY Study of Billing Process of company

32 33 33-34

6.2. 6.3. 7. 7.1 7.1.1. 7.1.2. 7.2 8. 9. 9.1. 9.2. 9.3.

BILLING PROCESS TALLY PROCESS OBERSVATION Classification of Observation Organization Training Self-Training Trends IDENTIFICATION OF CRITICAL ISSUES CONCULSION Trends in the Organization Feedback given to Organization Self-Learning PART C LEARING AND TAKEAWAYS REFERENCE

34-35 35 36 36 36-37 37 38 39 40 40 41 42 43 43-44 45

Part A

2. BRIEF COMPANY PROFILE 2.1

HISTORY OF THE ORGANIZATION

Kerala State Rubber co-operative Ltd, (RUBCO) has in short span, redefined the way the co-operative sector functions and set the pace for the co-operative movement in Kerala today. RUBCO was set up in the year 1997 with the objective of effectively utilizing the abundant rubber resources in Kerala. RUBCO has also entered into technical alliances with the world leader in the respective field, sourcing from them State-of-art technology. Substantial investments in modern manufacturing facilities, coupled with well Organized market activities, have been RUBCO’s products earn a reputation for quality and significant market shares. RUBCO is the largest exporter of Natural Rubber in the country today. Even in the domestic market, Rubco is a major supplier of natural rubber to all leading tyre companies in India. RUBCO is also a Government intervention agency towards market stabilization and has been serving the farming community directly and indirectly to get reasonable price, arresting drastic fall in price during the peak production periods. Natural rubber trading has being a blend of social obligation and commercial practicability led by a professional management team and ably supported by a committed work force. RUBCO is now poisoned to enter a high growth phase, with served new interactive that will take the group on a path of diversification and expansion. Rubber holds immense potential for a wide variety of commercial uses which is yet to be fully Kerala State rubber co-operative Ltd(RUBCO) was set up in the year 1997, with the objective of effectively utilizing the abundant rubber resources in Kerala. RUBCO has in short span, redefined the way the co-operative movement in Kerala. Today from a single unit company

‘RUBCO’ has grown into Rs. 280 crores conglomerate with well diversified operations and a market presence extending beyond boundaries of Kerala. Kerala State Rubber co-operative Ltd (RUBCO), is situated in Kannur, Kerala state, India is promoted by the provisional Government of Kerala to promote Rubber based industries in this part of our country. Today India enjoys 4th position in the production of Natural Rubber(NR) in the world. Among the total production, small state of Kerala contributes 92%. So the rubber has become the backbone of our economy. Due to the bad impact of globalization the overall market of the rubber fell down in Kerala that time instability in price of rubber is one of the major problem that the farmers facing in the market. The farmers were not getting fair price for their effort. But their problem came into existence. In this year on the purpose of exploring the infinite possibilities of rubber. Since its inception in 1997, RUBCO has travelled long. It has entered into various rubber and rubber wood based industries like Hawaii chappal with reputed Malaysian technology, cycle tires and tubes, Rubberized coir mattress, conventional and procured tread rubber, Block rubber (SMR), Pale Latex crepe, Casual shoes etc. for at least over 16 decade with a vision to become a Global leader in the production of natural Rubber and innovative product development, RUBCO adopts the best and latest process in the production. N their slogan itself they had mention that “RUBCO means RUBBER and RUBBER means RUBCO”

2.2 Administration and Management of RUBCO

The administration and management of RUBCO vests in the Board of Directors consisting of fifteen members as follows.

 Nine directors are elected by ‘n’ class shareholders from among themselves.  Two directors elected by ‘B’ class shareholders from among themselves. CHAIRMAN: Mr. E. Narayanan He is a veteran co-operator and is holding various positions as chairman in central and state level co-operative organization.

MD: Mr. Jacob D Mathew He has more than 25 years of experience as CEO in corporate sector.

Other directors. 

Sri. V.N Vasavan



Sri. George Mathew



Sri. V Azeez



Sri. Paneeri Mukhundhan



Sri. M.V. koman Nambiar



Sri. S.N. Chandran



Sri. K.Manoharan



Sri. V.P.Sadhasivan



Sri. K.S.Gopi



Sri. Jacob D Mathew



Sri. Sthyabhama K.N

2.3 Other Divisions Of RUBCO

RUBCO Footwear Division RUBCO’s footwear division manufactures a range of quality casual rubber footwear. The plant manufactured under the renowned Malaysian technology RUBCO’s footwear range presently comprises of three leading brands RUBCO Hawaii, RUBCO Rainbow and RUBCO classic.

RUBCO Cycle Tyre & Tube Division The plant has an annual installed capacity of 3 Million tyre and tube. RUBCO’s range of cycle tyres & tubes has advanced features such as high non skid depth improved wet-skid resistance and traction property and more mileage and puncture resistence.

RUBCO Huat Wood Pvt.Ltd The furniture manufacturing plant has a processing capacity of 40000 Metric tones per year. The products are being exported to UK, USA, Japan and many other countries across the globe. RUB WOOD, the furniture range, comprises of dining tables and chairs, designer Wardrobes, futons kitchen cabinets and computer and office furniture and is available in the choice of designs and finish. RUBCO Sreekandapuram Latex Pvt.Ltd The company manufactures Block rubber (ISNR) and pale Latex Crepe(PLC). RUBCO is in the process of expanding the scope of operations of this unit in line with market trends.

RUBCO Sales International Ltd

RUBCO sales international (RSIL) is a public limited company promoted by RUBCO to spearhead the sales and the marketing activities for RUBCO’s entire range of product in the domestic and international market.

2.4. PRODUCT PROFILE

I.

PRODUCT PROFILE OF RUBCO RCM DIVISION Rubco manufacturers a wide range of mattress catering to diverse segment of the market. The range consist of Heaven A premium model that provides unmatched sleeping comfort is available in 3 inch and 4 inch thickness. Also available in customized dimensions and thickness for large quantities.

Heaven Plus A luxury model that is elegant as well as comfortable which is 5 inch thickness. Hi-tech A hi-tech model with an accent of finish and luxury available in 5 inch thickness. Hi-tech Pillow Top Superior quality mattress finished to world class standard is available in 7 inch thickness.

Dosth An economy model that offers true value for money is available in 2 inch and 3 inches. Safal A regular mattress that combines comfort and durability is available in 3 inch and 4 inches. Heal This quality product is suitable for uses in the hospital. It is available in 3 inch and 4 inches thickness.

Yathri An elegant mattress mean for hotels, hospitals, tourist resort, etc. Yathri combines superior sleeping comfort with perfect back support enabling a relaxed healthy sleep layer of rubberized coir and latex enhance the comfort which soft and elegant quilting adds a luxurious feel for use in hospitals is available in 3 and 4 inches thickness. 9.30 pm It is economy model available in 3 inch and 4 inch thickness.

Other product from factory. 

Cushions



Mats



Cycle tyres

2.5. ORGANISATION STRUCTUTRE

ORGANIZATION STRUCTURE Organization structure is the structure of the relationship among positions and the jobs created for the purpose of accomplishing the objectives of the enterprise. It represents the pattern of the relationships among the components of an organization. They are:  The form of the structure  The functions to be performed  The human aspects This pattern of relationship governs duties and activities of persons who are depend upon each other for accomplishing the objectives of the enterprise. An organization structure should be designed to clarify who is to do what tasks and who is responsible for what results, to remove obstacles of performance caused by confusion and uncertainty of assignment, and to furnish decision making and communication networks reflecting and supporting enterprise objectives. The company’s organizational structure is diagrammatically represented by an organization chart (a diagram representative of the hierarchy of an organization’s personnel). The organization chart shows the line of responsibility between the various departments of the company.

ORGANIZATIONAL STRUCTURE OF RUBCO RCM LTD

GENERAL MANAGER

A.P.O

STENOGRAPHER

ACCOUNT OFFICER

Jr. CLERCK

PRODUCTION MANAGER

SHIFT IN CHARGE PRODUCTION

SECURITY WING

SHIFT IN CHARGE LAB

PRODUCTION SUPERVISOR

QUALITY SUPERVISOR

WORKERS

WORKERS

TIME OFFICER

RECEPTION

STORE KEEPER

PURCHASE OFFICER

Jr. CLERCK

Jr. CLERCK

ACCOUNTANT

Jr. CLERCK

2.6 MISSION AND VISSION OF THE ORGANIZATION: 2.6.1. VISION :To ensure brand leadership in all manufactured and marketed.

2.6.2 MISSION :To develop brand equity and to ensure professional co-operative image through a systematic working procedure.

RUBCO group has involved in a wide range of business such as;  Foot wear  Furniture  Cycle tyre and Tube  Rubberized coir mattress  Natural Rubber  Virgin coconut oil New projects for Coconut Based Products  Virgin coconut oil  Activated carbon  Coconut spray dried milk powder  Packed tender coconut water  Coconut water concentrate Plant for casual/ sports shoe on progress 

Unit for automotive rubber components to be established



RUBCO is in the process of setting up a project for the manufacture of tyres and tubes for two/ three wheelers, passenger cars, heavy duty trucks and light commercial vehicles. The project will be located in the proposed industrial growth center being

Organizational Goals and Objectives Goal: The organizational goal of RUBCO-RCM Division is to make RUBCO a leader in the market of Rubberized coir mattress. Objectives;  Maximize the capacity of utilization of the existing.  To increase the profitability of the company and to maximize generation of surplus to enable RUBCO to finance its diversification projects.  To execute production on time in accordance with the market demand of the product and make available them to the distributors.  To maintain and improve the existing cordial relationship between employees and the management.  To ensure strict quality control and ISI standards of products complete in the global market.  To maximize cost reduction.  To introduce new varieties of mattress as to increase the wide range of mattress catering to diverse segments of the market.

3. INDUSTRIAL ANALYSIS

3.1 PESTEL:-

Political:-

Political factor indicates till what extent the government influences in the economy. A stable political environment with respect to mattress industry helps in smooth function, which will help to lead the industries The subsidies provided by the government in favor of mattress industry also help to reduce the growth rate and help the organization reduce the amount of money that is financed from abroad and directly reduce the interest paid in favor of the fund

Economic factors:-

Economic factors in mattress industry as witnessed a growth due to the entry of international companies, these factor have major impact on how business operate and make decisions, The organized market has taken lead by Kurl-On and Rubco the company offer variety of product to the consumer, there is increase in growth of revenue as matter of increasing infrastructure and hotels in the country.

SOCIO - CULTURAL FACTORS:-

Social factors include the cultural aspects and include health consciousness, rising health consciousness lead to people buy comfortable as well as good quality products. This social factor influence the demand for the products People are ready to spend money on good quality products as well as the company offers varies product range.

Technological factors With new technologies the production of mattress and the finish of the product had a great impact, less workforce and great production capacity Furthermore technological shifts can affect costs, quality, and lead to innovation.

Environmental factors Mattress industries uses Coir, PU foams, Spring latex as raw material etc, Coir is biodegradable product and is coconut fiber product, the PU foams which are not environmental friendly and chemical adhesive also harms the environment

Legal factors Changes in governance or any policies with regards to industries may have impact on employment, access to materials, resources, imports/ exports, taxation.

3.2 Porter’s five forces:

3.2.1

1. THREATS OF NEW ENTRANTS IS LOW: -

Mattress industries is not a high investment industry any one can establish a new setup one should be properly aware of the market condition , market study is important and so to compete with the existing segment leaders new technologies and cost management should be taken into consideration Rubco is not really affected by the competitive rivalry because they are the market leader of the segment with maximum share in the industry their main competitor are sleep well , kurl on mattress.

THE BARGAINING POWER OF BUYERS IS MEDIUM: -

Supplier those who supply to Rubco are local parties in terms of there are plenty of suppliers who provide raw materials there are various suppliers available in case the supplier increase their price so the parties need to sell their products in affordable prices which lead Rubco to sell the product in the expected prices

THREATS OF SUBSTITUTES ARE MEDIUM: -

As every product has a substitute so as the mattress there are different type of substitute available in the market like cotton beds , feather bed as a fact Rubco company offers unlimited warranty on mattress which made them segment leader.

THE BARGAINING POWER OF SUPPLIERS IS LOW: Here the buyer has less bargaining power with respect to other products because the company offers life time warranty on their mattress for the consumers which make consumers assurity of quality And Rubco has wide ranges of products which helps buyer to chose from products

THE COMPETITIVE RIVARLIY IN THE MARKET IS VERY HIGH: Rubco company has many competitors like Kurl-on, Sleepwell which well established with their new products as well as their quality products providing competition

3.3 PORTER'S GENERIC COMPETITIVE STRATEGIES A firm's relative position within its industry determines whether a firm's profitability is above or below the industry average. The fundamental basis of above average profitability in the long run

is sustainable competitive advantage. There are two basic types of competitive advantage a firm can possess: low cost or differentiation. The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus. The focus strategy has two variants, cost focus and differentiation focus.

1 Cost Leadership In cost leadership, Rubco sets out to become the high and low cost producer in its industry. The sources of cost advantage are varied and depend on the structure of the industry. They may include the pursuit of economies of scale, proprietary technology, preferential access to raw materials and other factors. If a firm can achieve and sustain overall cost leadership, then it will be an above average performer in its industry, provided it can command prices at or near the industry average.

2 Differentiation In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that are widely valued by buyers.

Rubco provides varies varieties of product in the market their

product ranges are Heaven, Heaven plus, Hi-tech, Dosth, Safal, Heal etc It selects one or more

attributes that many buyers in an industry perceive as important, and uniquely positions itself to meet those needs. It is rewarded for its uniqueness with a premium price.

3. Focus The generic strategy of focus rests on the choice of a narrow competitive scope within an industry. The focuser selects a segment or group of segments in the industry and tailors its strategy to serving them to the exclusion of others. The focus strategy has two variants. (a) In cost focus Rubco seeks a cost advantage in its target segment, while in (b) Differentiation focus a firm seeks differentiation in its target segment. Rubco provides varies varieties of product in the market their product ranges are Heaven, Heaven plus, Hi-tech, Dosth, Safal, Heal etc . The target segments must either have buyers with unusual needs or else the production and delivery system that best serves the target segment must differ from that of other industry segments.

Conclusion: As the company belongs to the Mass segment of the market. Therefore, the focus will be on “Cost leadership” and on “Differentiation”.

4. COMPANY ANALYSIS 4.1 SWOT ANALYSIS - RUBCO MATTRESS

The overall evaluation of company‘s strength, weakness, opportunities and threats is called SWOT analysis

STRENGTH

Rubco mattress division has variety of products and price range. In the company there exists relationship between employee and top level management and among dealers and distributors. Through effective marketing Rubco products could have acquired wide market acceptance & customer preference within a short period of being time Style of leadership that company following is leadership through dedication and coordination. That encourages employees of the organization to work towards their organizational goals. The strength of the company lies with the quality of their products, wide range of products capable to challenge variable environment condition, goodwill, and customer service, technical advice marketing intelligence ,wide network, and interaction with customers. Easy and quick availability of raw materials .Good financial management system that exist in the organization.

WEAKNESS Rubco is newly established company, most of the employees are fresher and therefore the company has to conduct training programmers to improve their skill. So large volume of productive time is consumed to make enable these in experienced workers to familiarize with their work procedures to be followed Higher Rubco plans to expand their market in overall South India; but transportation from Kerala to other markets will be a big burden they are facing in the market when comparing to their competitors they can easily supply goods into market according to market demand because they are having manufacturing plants in other states. Lack of promotional activities abroad.

OPPORTUNITIES Rubco RCM division is not yet fully using 100% utilization of existing machine capacity so opportunities lie there. The factory can undertake new projects regarding projects .Opportunity of identifying the regions where introducing more and more quality products so that structure can withstands the different regional environment. Rubco - Rubberized Coir Mattress planning to be entering into foreign markets. The company can enter in to coir /jute biodegradable geo textiles at relatively low cost.

THREATS Fluctuating price of raw materials Lack of Raw material Increasing competition Taste of customer varies. Government policies. RUBCO ensure high quality products due to which the price of the product is comparatively high compared to its competitors. So there is possibility that customer can switch to its competitors

4.2 7’s McKINSEY MODEL BACK GROUND OF THE MODEL:

The 7’s model is better known as Mc Kinsey’s 7s. This is because the two persons who developed this model. It is developed by tom peters and Robert waterman. They published their 7’s model in their article “structure is not organization “(1980) and in their books “the art of Japanese management” (1981) and in search of excellence (1982). Mc kinsey’s 7’s model Structure Strategy System Shared Values Staff Style Skill An organizational study report of Rubco Pvt Ltd. The 7’s model is a tool for analysis and action . So that the organizations problems may be diagnosed and a strategy may be developed and implemented. The 7s of Mckinsey’s are:

Strategy Structure System Style Staff Skill Shared values These are the 7 s elements are distinguished in so called hard S’s and soft S’s. The hard elements are practical and easy to identify. The four soft S’s however, are hardly feasible. They are difficult to describe since capabilities values and elements of corporate culture are continuously developing and changing. They are highly determined by the people at work in the organizations.

Strategy Strategy of Rubco Actions a company plans in response to or anticipation of changes in the external environment.

Strategy of Rubco Pvt Ltd To provide social welfare measures to work force To make the best and efficient To recruit and select right person for the right job at the right time in the right place. Production strategy of Rubco pvt Ltd Producing high quality of goods Quick production of products or goods Efficient use of raw materials Minimize the waste in the production process

Financial strategy of Rubco Pvt Ltd Maintaining the perfect accounting and auditing system Reducing the block of capital

Maintaining the cash receivables

Marketing strategy of Rubco Pvt Ltd To create new customers To motivate the sales team Making profit through customer satisfaction Develop a pricing strategy

Structure

The structure typically hierarchically arranged in the lines of authority, communication, rights and duties of the organization. Organizational structure determines the roles, power, and responsibilities assigned to each department and heads. This structure purely depends on the organizational strategy. The Organizational structure of Rubco which is then subdivided into various other categorical brand i.e.; Rubco Woods , Rubco Footwear’s etc each of these major division is headed by the President or Vice President and the power lies in the middle management.

Skill Skill The Rubco’s recruitment is mainly through advertisement in leading newspaper based on the recruitment of the organization. The MD consulting with administrative personnel officer to decide the number and type of people needed for the organization. Training are provide to the employee, where the employee are taught individual learning , team learning and organizational learning.

StyleIt says about how the decisions are made and the flow of authority in the organization. The Rubco was using the participative leadership style order to take the decision is taken by the management by discussing with concerned supervisors or workers. The organization is taking the day to day decision such as the quality of output usage of materials, purchasing etc are determined by the production manager to concerned supervisors or workers. So the decision making is decentralized.

Staff The term staff refers to the way organization introduce young recruits into the main stream of their activities. Around 775 workers are working in the company. They are Specialist / highly skilled workers – 35 Skilled workers – 146 Unskilled workers – 347 Semi skilled workers – 31 Learners – 54 Casuals – 73 Saw workers – 35 Staff (including managerial staff) – 54

Shared values It remains customer focused by providing the quality cost and through manufacturing excellence, adopts a continuous of all organization activity to meet dynamic requirement of customers. It empowers all employees across the organization to achieve total quality. The company aims at customer delight by exceeding expectation blend of qualitycost-delivery of the company’s products and services that company provides

4.3 Value chain analysis

Inbound logistics

Rubco purchase raw materials like coir , ceramic ball, spring , pu foams From their local suppliers The final product from this department is bare rectangular shaped rubberized coir block. Rubberized coir is resilient and because of resiliency of the curled fiber. the purpose of rubber latex is to bond the resilient coir fibers together and impart shape of the product.

Operations

PROCESSING OF COIR Coir is one of the major raw material for the rubberized coir mattress, which is purchased as bundles (140 bundles = 1 load). This purchased bundle may contain moisture in them. To eliminate this moisture content it is kept in coir drier machine & by using steam from boiler it is

heated for three days, where specific temperature is maintained. Thus moisture content in coir is brought Down to allowable limit of 5% or below. Processing of latex (Compounding section) The raw latex processing consists of two steps

Ceramic Ball milling Ceramic ball milling is a process in which chemical required for the compound is grinded with ceramic balls to make it dispersion. There is 3 ceramic ball milling machine of Rubco RCM factory .Compounding In this stage the above mode chemical dispersion is mixed with latex in latex stirrer machines. Sufficient quantity of stabilizers also added in to the above mixture at this stage. SHEET FORMING STAGE The production of rubberized fiber sheets are done by the computer controlled sheet forming machine. The 7 crore investment machine generally called DOA is imported from Austria. This section has units under it. Untwisted unit Distributor and first spraying section Drier and second spraying section. Cutting table Here completely dried and tempered rope are fed in to the untwisted unit were the ropes are opened up to make it coir fibers and curled coir fibers are thrown by a cyclone‘in to a feeding conveyor. Fibers are opened further with air from compressors and supplied to a sheet former. The sheet former takes the fiber over and pragmatically produces sheet with partly vertical fiber orientation adjustable width and surface weight. The sheet is sprayed with compounded latex from the top in the automatic spraying section called spraying gun. The sheet is then dried in its passage through the tunnel drier. After drying in its first passage, the sheet is automatically turned over and sprayed with compounded latex on the other side. After the final drying the sheets are cut to the required size in automatic cutting machine. PRESSING STAGE The sheet formed from DOA machine are piled up and progressed in a continuous roller press to get the desired weight. Then these sheets and the hand sprayed in a spraying booth with compounded latex these progressed parts arekept in a hydraulic hot press to active the required dimensional stability. VULCANIZING STAGE

The pressed pads are then loaded in a trolley and further processed, in aVulcanize to give the desired resilience to the product. On Vulcanization properties such as tensile strength, heat resistance and resistance to ageing of rubberized coir are improved.

TRIMMING After Vulcanizations the bare blocks are cut in machine called band saw to form rectangular bed like a block of desired length and width. FINAL INSPECTION After final inspection and checking this bare block are given the furnishing department for further processing

Outbound logistics

Rubco is a leading mattress company In India It has a huge number of market share, it is manufactured with the international standards

Primary activities 

Company has quality control Department for having control over the quality of material which have to use in production.



Company inspect the truck which are bringing material in side the company. They inspect the quality of the material, quantity of material, weight, etc.



Company elected group of people for doing inspection of production and any aspects which is related to the product. Like quality audit.



Company has strong transportation system for delivering goods from one place to another when buyer wants.

Sales and Marketing:



In mattress industry Century rubco has established good image hence there is movement for Sales and marketing Department.



Marketing team work on bring new party and product development with existing product.

4.4 BCG MATRIX:

Stars The business units or products that have the best market share and generate the most cash are considered stars. Monopolies and first-to-market products are frequently termed stars. However, because of their high growth rate, stars also consume large amounts of cash for Rubco mattress is star due to high market share and also due to higher cash consumption.

Cash cows Cash cows are the leaders in the marketplace and generate more cash than they consume. These are business units or products that have a high market share but low growth prospects. Rubco footwear’s generate less cash because of strong competitors and old technologies. Dogs Dogs are units or products that have both a low market share and a low growth rate. They frequently break even, neither earning nor consuming a great deal of cash. Rubco virgin oil named as Nutrico are new to the market so they have low market share and growth

Question marks These parts of a business have high growth prospects but a low market share. They consume a lot of cash but bring little in return. Rubco huat woods consume lots of cash and have low market share

4.5 Ansoff’s matrix

Market Penetration: In market penetration strategy, the organization tries to grow using its existing offerings (products and services) in existing markets. In other words, it tries to increase its market share in current market scenario. This involves increasing market share within existing market segments. This can be achieved by selling more products or services to established customers or by finding new customers within existing markets. Here, Rubco company seeks increased sales for its present Mattress in its present markets through more aggressive promotion and distribution. Offering discounts and providing attractive offers achieves market penetration through products under the line .

Market Development: Market development is the name given to a growth strategy where the business seeks to sell its existing products into new markets. Rubco is growing their sales reach all over India and international markets also

Product Development: Product development is the name given to a growth strategy where a business aims to introduce new products into existing markets. Rubco introducing low cost , as well as high end mattress so that it is compatible for the consumer and attract large number of

customer providing mattress which are made of springs and pu foams, which leads to more comfortable experience of mattress .

Diversification: Diversification is the name given to the growth strategy where a business markets new products in new markets. This is an inherently more risk strategy because the business is moving into markets in which it has little or no experience. Rubco entering into virgin oil production where the market and the product is new .

Part C

Study Of Billing Process Of Rubco Company Rubco Company billing process Where the finance deportment provide the production team with chart prepared with all the details regarding the mattress And the production departments have to fill the following data

Finance is a backbone of every organization it is also the most important aspect of a business therefore finance requires proper planning and control to achieve the objective of the organization a proper financial management is needed for the proper functioning of the organization . Efficient management is needed to funds how we can use money for getting maximum output and for achieving the organizational goals

Finance is that managerial activity which is concerned with the planning and controlling pf the enterprise financial resources it is an integral part of general management where money is used for any integral part. Initial investment Initial investment refers to the determination of the total amount of the funds to be raised by business enterprise Initial the company started with the initial investment of Rs 1.cr

Billing process:

Distributor

Sales and Shipping

Production

Finished Good Department

Finance Department

The sales process are recorded in the name of Rubco sales which is a in-house venture of Rubco The distributor first place a order to the sales and shipping team for the mattress through mail or phone, then sales team record the order in register with the parties name and quantity of the product Then sales team proceed the order to the production department and work order is generated And then it is given to finished goods department where the products are dispatched and send to the distributor with sale letter then after two days the bills which are generated by the sales and shipping department send to finance department, then the invoice is generated through tally software by finance department and then it is been reconciliated with sales team. This is billing process of Rubco mattress

Rubco company uses tally software for their billing process. where sales entries, purchase entries are recorded. as a intern my mentor assisted in recording entries in Tally software ,the procedure is as follows

Objective of study:1. To study the billing process at Rubco 2. To study the various mechanisms those are used to record transactions at Rubco 3. To create and record accounting journal entries

Expected benefits:To provide accuracy in the company. To make sure that there is no errors .

TYPES OF BOOKS USED FOR RECORDING ENTRIES IN COMPANY

Books of accounting

1.Day book It is used for recording the daily transaction .all day to day expense and income are recording in these books

2.Sales day book It is used for recording the sales details it is include all customers transaction

3.Purchase day book it is used for recording the transaction in a separate account

4.Stock register stock register is used for recording the raw material details purchase and production details of raw materials are recording in these book

5.Production register it is like a stock register , finished goods details are recording in this book . the produced quality of finished goods and how much quality is going dor sales a;; details are recording n the production register

6.Creditors day book It is used for recording the creditors details all purchasing transaction are recording in this book

7.Sales return book It is used for recording the sales return of the product

8.Purchase return book It is used for recording the purchase return of the product

9.Trail balance It is use for the verification purpose it helps to check accuracy of the account

Ledger Creation Create the following types of sales ledger and fill the related information required to create these ledgers : 1. Local sales 2. Interstate sales 3. CGST 4. SGST 5. IGST 6. Item name

7. Party Account Steps to Create Sales Step 1. Go to Gateway of Tally > Accounting Vouchers > F8 Sales. For invoice no, write the serial number of the bill. Step 2. In Party A/c name column, select the party ledger or the cash ledger. Step 3. Select the relevant sales ledger. If it is local sale ,then select sales ledger for local taxable sales and if it is interstate sale, then select the sales ledger for interstate sales. Step 4. Select the required items, and specify the quantities and rates. Step 5. In case of local sales, select the central and state tax ledger. If it is interstate sales, select the integrated tax ledger. Depending on your requirements, you can include additional details in your invoice by clicking F12: Configure such as buyer’s order no, delivery note no etc.

Reconciliation Rubco Company uses traditional methods for the billing process

As an intern my work was to reconcilate the bills which were printed To check whether the amount has been properly put up. To check whether if proper discount as been applied. To check the serial number and dates . To check the Gst rates are properly applied whether it is IGST , SGST , CGST .

Observations: Classification of observations The observations are based on the participant point of view of finance department.

Organizational training During my course of internship with I got an opportunity to have my organizational training with a mixture of visits to various departments and interacting with various individuals. The team I belonged to was Finance department. The finance team specially was flexible even in their busy work schedule and made sure I understand the work process and important terms. All updated information’s, knowledge and new perspective was shared with me. I also got first hand experience to learn the basics of Excel and TALLY software used by all organizations. As networking plays a vital role in understanding different module which helped me in communicating with my higher authorities and understand the overall concept of basic about financial aspects. I also had a chance to interact and work with senior management understands the business from their point of view. I also had the opportunity to visit the production unit of the company and understand the factory procedures under the guidance of my supervisor. Hence with the management’s flexibility and the employees really being helpful it was easy for me to sharpen my skills and learn new concepts quickly.

SELF LEARNING During this course of internship for the period of 2 months, I tried to work on my Interpersonal and Personal skills. I constantly tried to improve my communication skills, listening skills to interact better with others. Working in Rubco has certainly helped me to improve problem solving, decision making, and questioning abilities. I interacted with coworkers and senior management and understood and analyzed their views on mattress industries . My goal was to learn as much as possible in this limited duration hence I was focused and result oriented towards my work. For me this whole summer internship program was about building confidence, self esteem and finding the right motivation and preparing myself for the corporate world in near future.

Identification of critical issues or problems Even though the overall environment of Rubco is very good but during the duration of my internship I came across certain problems which are: Rubco stills uses old software’s throughout the billing process which is Tally, Companies now use latest software’s such as SAP, and payment to suppliers are still done by remittance of cheque in bank instead of online banking services . The duration of the internship that is the 2 months period there have been many instances wherein the staffs couldn’t figure out few things. Not all process is automated so few things are done manually, hence it leads to errors.. There is also conflict between the different departments regarding the documentation since they are finding it difficult to coordinate with each other at times. Sometimes they also find difficulty in maintaining their invoices. All the files take up a lot of space. Instead of keeping physical invoice they must try to maintain a digital copy which would help in reducing the errors as well as can get rid of too much files which are occupying a lot of space.

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Conclusion: Rubco understands the soul of Indian consumers. As one of India's retail pioneers with multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers and businesses. The collective impact on business is staggering: Almost 500 million customers walk into our stores each year and choose products and services supplied by over 30,000 small, medium and large entrepreneurs and manufacturers from across India. And this number is set to grow. Their main aim is to cater to all the section of the society, through their broadly spread outlets with best in industry supply chain and network. From the start of modern retail they have been fully into being a consumer’s organization. With bringing in human touch at their stores it made very easy for the consumers to find out about the goods, getting to know about the goods and the details about it, which imbibed the sense of belongingness amongst the consumers. After

this they went into ecommerce which brought products to our door steps, which made it very easy for consumers to purchase whatever they want without going physically at the store and made it very easy through apps and websites. Their main USP is that most of their goods sold are produced and owned by them only, this backward integration has helped them in cutting cost and providing consumers with better quality products in cheapest cost.

Summary of feedback given to the organization During the duration of two months I could learn a lot of things from the organization. All the staffs as well as the senior managers were cooperative enough and would always find a way out to help me. It was a very nice experience working in such a big firm where I got to learn a lot about corporate world as well as my domain of interest i.e. Accounting & Finance. Great infrastructure with all the basic amenities and modern facilities and friendly staff. One of the feedback given in return to organization was about to improve the training program for new employees. As of now the newly joined employees are directly burdened with work without proper training. Make sure all the processes are fully automated so that human errors can be reduced, as all the files take up a lot of space. Instead of keeping physical invoice they must try to maintain a digital copy which would help in reducing the errors as well as can get rid of too much files which are occupying a lot of space.

Summary of self learning Internship has been the best practice to get a hands down experience of working in an organization, it helped me to overcome my fears of interaction or even working in an organization, in initial days it was a bit stressful but after sometime of gaining the experience it has proved to be a great journey for learning and getting experience for the period of 2 months. I also got an opportunity of building a professional interaction with the managers and other coemployees which is the most important learning aspect of working in the corporate world.

The department was helpful when I had questions, but it was good for me to oversee every aspect of my own internship and, in the end, has been advantageous. I believe this approach made the experience mirror that of an actual job search. Open communication was one of the strongest and most apparent skills that I learned during my internship. When I first started interning, I was intimidated and nervous to ask too many questions because I didn’t want to admit that I didn’t understand or that I needed extra help with something. Luckily I got over that fear quickly because asking questions is the only way to learn what you are really supposed to be doing. I found that my boss and fellow staff members appreciated it more if I asked too many questions to make sure I really understood what it was doing and that I did it correctly. If I had not worked with such cooperative and helpful people, I probably would have been too intimidated to ask questions in my next job. Now that I know it is not bad to ask questions, I won’t have to struggle with it in my future job. Without open communication between everyone in an office, I don’t see how any work can be done.

PART C LEARNING AND TAKEAWAYS Learned about the regulations related billing process of the company. Gained an insight into the work environment and understanding the culture of the company. Developed a skill set of gathering questions and asking appropriate personnel for assistance Learned how to ask for assistance .When in doubt, the first and the most important thing to do is ask rather than being a fool and doing the wrong thing. As my work was purely observatory I had a chance to interact with lot of people from various departments, it not only improved my communication skills but also helped to understand the work process. Besides, working in a corporate has not only improved my understanding of management concepts but also has boosted my self confidence about working in a corporate in near future.

Application of concept tools and techniques learnt at PIMSR PIMSR taught me some new techniques and tools which helped me in framing and understanding organization and its market as whole such as: PESTEL analysis, SWOT analysis, porter’s five forces analysis, porter’s generic strategies, McKenzie 7 s framework, value chain analysis, BCG, Ansoff’s matrix.

PESTLE analysis is a strategic planning method to reduce business threats. By examining the Political, Economical, Social, Technological, Legal, and Environmental factors, firms will gain valuable advantages. These advantages help with the idea phase, product development, product launching, content marketing strategies, and other factors, to increase success. The advantages of PESTLE analysis involve being cost effective, providing a deeper understanding of business, alertness to threats, and a method to exploit opportunities.

A SWOT (strengths, weaknesses, opportunities and threats) analysis can help you identify and understand key issues affecting your business, but it does not necessarily offer solutions. You should be aware of the limitations as well as the benefits of a SWOT analysis before you decide to conduct one. Knowing what you can reasonably expect to achieve will make the SWOT analysis more useful for your business, and will save you time. Ultimately, you must be prepared to spend the time to review your SWOT analysis and use it to determine the best way forward in your business. The main advantages of conducting a SWOT analysis is that it has little or no cost anyone who understands your business can perform a SWOT analysis. You can also use a SWOT analysis when you don't have much time to address a complex situation. This means that you can take steps towards improving your business without the expense of an external consultant or business adviser. Generic model, Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. Porter’s Five Force model, Porter refers to these forces as the Micro environment, to contrast it with the more general term macro environment. Value chain analysis, Products pass through a chain of activities in order, and at each activity the product gains some value. The chain of activities gives the products more added value than the sum of added values of all activities. All the tools techniques and skills acquired from PIMSR have really been helpful throughout the internship because all those concepts have played a big role in adding value to the company as well as it has helped me in understanding various aspects with different perspective.

New knowledge, tools, technique or skills As a intern I realized it is the best way to see or get experience of working in the corporate, and get the one of the best experience.

One of the most valuable skills I learned working in the Finance department is the communication skill. I gained a confidence of interacting with my co employees or even with the managers. I also got the opportunity of interacting directly with the boss on certain topic or a company. After the completion of my 2 months duration of internship I got better way or better approach of how to behave or build up a interaction in the corporate world, it also helped me for gearing up for my interview and get a confidence for working in the other organizations. I got an opportunity of learning the new tool in the form of the TALLY software. As all the work done is through Tally such as invoice booking, logistic cost booking, warehouse rent annexure, staff reimbursement etc. Augmentation of soft skills Being part of the internship I could not only build good professional relationship with the Staffs and management but also could build good personal relations with the staffs as well as Other people who are the partners of the company in which I have worked in. Also the mentor and managing director had been very supporting throughout the internship guiding me Throughout the 60 days duration. They not only helped through professional front but also helped me to understand the expectations of market place from a fresher. This has not only helped me in building up my communication skill but also has helped me in learning the art of time management, also it taught me how observant one must be in order to recognize or identify the opportunities surrounding us. Being a management it’s not only important to have technical knowledge about the subject matter also must develop leadership skill as well as must be good working in a team. Maintaining relationships Maintaining relationship with team member gives benefits to the work routine. The professional relationship with seniors will help to developed personality and they indirectly teach fresher how to behave in organization and maintain professionalism.

Improvement in formal communication It also helped a lot for developing mailing skills according to the requirement of the organization. Drafting a suitable mail according to the different situation, replying to the clients, replying to other co employees. Increase in self-confidence It also helped to develop a self motivation by encouraging its employees to set a target for them self and achieve it full determination and with focus. It also motivates with the employees by providing rewards. Employees and even interns are encouraged to take up a challenging task and try to achieve it within the time, such factors develops motivation among the employees and interns.

Direction for future learning Gaining the work experience for the first time in the duration of this 2 months internship, has helped me a lot to gain confidence and the communication skills which I would like to take forward in near future for working in the new organization.