RESEARCH AND DEVELOPMENT NEW PRODUCT
In a company research and development
conceptualizes completely new products.
Sometimes the customer may give the
design of the product or sample which is to be developed .enquiry about the
design, shape, size all are discussed. When the order gets confirmed the by the
firm and the customer cost is fixed for the product.
First the sample sent to customer of
the product for their satisfaction and moved on to the process of bulk
production.
Distribution channels:
Direct distributing refers to the customers directly
place the orders to the manufacturers and the products are delivered directly
to the customers without any intermediaries.
Bhargave Rubber has its distributors mainly form Chennai,
Coimbatore, Karnataka, and Maharashtra.
An export is a function of international trade where
goods are produced in one country and are shipped to other country for sale or
trade. The firm uses direct export or through a merchant agent to countries USA
and UK.
FINANCIAL
MANAGEMENT
Financial management is a vital
activity in any organization. It is the process of planning, controlling,
organizing and monitoring the financial sources to achieve the goals and
objectives of the company
It include the controlling of activities
such as procurement of funds, utilization of funds, accounting, payments, risk
assessment, and every other thing related to money.
Some
sources are short as it is to be paid back within a year. Others sources may be
paid within years as it is said to be long term sources
The
firm mainly uses sources from bank, term loans, and working capital.
Objectives:
1.
To ensure regular and adequate supply of funds to the
concern.
2.
To ensure adequate returns to the shareholders which will
depend upon the earning capacity, market price of the share, expectations of
the shareholders.
3.
To ensure optimum funds utilization
Functions
v
Determination
of capital composition
v
Estimation
of capital requirement
v
Investment
of funds
v
Management
of cash
v
Financial
controls
Wages of workman are fixed in the long term agreement
and is calculated on a daily basis depending various factors like grade number
of hours worked, the output achieved etc.
Bhargave Rubber Private Limited is a
family owned business so that the investment will be directly invested in the
organization by the persons from the family who are in the organization.
Fund flow means inward and outward
movement of funds of an enterprise Every month the firm need to meet out the
expenses ,small amount can be managed by the organization if not working
capital further used to run the organization.
The primary objective of working
capital management refers to the smooth functioning of business cycle,
minimizing the cost of funds.
Working capital sanction is based on
¯ Raw material
¯ Stock
¯ Finished goods store
¯ Work in progress
¯ Promotion general
The firm collaboration with Canara bank and
ever month budget is allocated regarding credit period for customers 45-60 days
and the working capital limit is upto 150 lakhs and 85 lakhs will be expenses
amount.
TECHNICALDEPARTMENT
Development of new product:
The new product is Developed by the organization is the 3
ways:
ü Get the core design from
the customer and then develops a new product.
ü Innovation of new design
for customer
ü Combining the idea of both
customer and designer and then develops a new product.
Technical team:
This team consists of 5 technicians and 2 supervisors
who works to develop the new product design for the customer satisfaction.
Creativity plays an important role in this department.
Process:
This department develops
the new product design and it is enquired and checked by the director of the
organization. After the confirmation of the design by the top management the
production process starts.
0 Comments