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INTRODUCTION

Founded in the year 1977 by Mr. Kochouseph Chittilappilly, V-Guard is one of India’s leading
consumer goods company with technologically diversified product offerings. Headquartered
in city of Kochi, Kerala, the company now has over 500 distributors, 20,000 retailers, and a
growing count of branches across India. It’s listed with the NSE and BSE since 2008. Over the
years V-Guard has ventured into domestic, industrial and agricultural electronic goods and
appliances category taking the total company revenue to over Rs.1700 Crore.
The foundation of our business was laid with the formation of a Partnership Concern
Viz. Premiere Electronics by our Promoter in the year 1977 which was engaged in the business
of manufacturing and marketing voltage stabilizers under the brand name "V-Guard". In the
year 1992, Premier Electronics, the partnership concern was dissolved and Mr. Kochouseph
Chittilappilly continued the business as a proprietary concern. Also, in the year, 1985, Mr.
Kochouseph Chittilappilly started another proprietorship concern by the name of prompt India
for marketing of the products under the brand name of V-Guard.
Subsequently, Prompt India changed its name to M/s V-Guard Industries. On February
12, 1996, our Company was incorporated under the name of "V-Guard Industries Limited"
under the Companies Act, 1956, with the Registration No. 09-10010 of 1996 having its
registered office at 44/1037, Little Flower Church Road, Kaloor, Cochin- 682017, Kerala,
India. With effect from 1st April, 1996, our company took over the business of the proprietary
concern i.e. M/s V-Guard Industries, going concern basis for a lump sum consideration of
Rs.234 lakhs and carried on the business of the firm namely manufacturing and marketing of
electronic and electro mechanical appliances.
With effect from November 15, 2001 our Company was converted into a private
limited company and again got converted into a public limited company on August 1, 2007 and
received a fresh certificate of incorporation in the name of "V-Guard Industries Limited". Our
company now has diversified into a multi-product company which now manufactures and
markets Electronic Voltage Stabilizers, Monobloc, Jet, Submersible, Compressor Pumps and
Electric Motors, Insulated Electrical Cables (House Wiring, Industrial), Electric Storage &
Instant Water Heaters, Solar Water Heaters, UPS, Electric Fans and is also in generation of
Power in a small way.
V-Guard Industries Ltd is a major electrical appliances manufacturer in India, and the
largest in the World with an annual turnover of 21.50 billion. Kochouseph Chittilappilly also
founded other establishments held as subsidiaries such as V Star Creations, an Indian
manufacturer of innerwear for men, women, and children, a chain of amusement parks in South
India.
V-Guard Industries Limited is a household name across India. A Kerala based
company, manufacturing and marketing of electrical and electronic products. It was
incorporated in February 1996. The Company was converted into a private limited company in
November 15, 2001 and subsequently got converted into a public limited company on August
1, 2007 and received a fresh certificate of incorporation in the name of V-Guard Industries
Limited.

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Products marketed under the brand name V-GUARD are Electronic Voltage
Stabilizers, Monobloc, Jet, Submersible pumps and Electric Motors, Insulated Electrical
Cables (House Wiring & Industrial), Electric Storage & Instant Water Heaters, Solar Water
Heaters, UPS for computers, Electric Fans and the company also busy with Generation of
power through wind mills.
It has a network of sixteen branches including our head office located in Cochin, 105
distributors, 75 service centres, 7000 retailers and spread 12 states across the country, V-Guard,
with its array of products for the home, has a consumer base exceeding 40 million. The
company has care on manufacture products that meets international quality standards and
provide trouble-free performance.
V-Guard is one of India’s consumer goods company with diversified product offerings.
Headquartered in city of Kochi, Kerala, the company now has over 500 distributors, 30,000
retailers, and branches across India. It’s listed with the NSE and BSE since 2008. Over the
years V-Guard has sold into domestic, industrial and agricultural electronic goods and
appliances category taking the total company revenue to over Rs. 2150 Crore in 2016-17
The company started in 1977, when Kochouseph Chittilappilly set out to build a brand
in the Indian electric and electronic goods industry The company started with a small
manufacturing unit for voltage stabilizers, a capital of Rs. 100,000 and two employees. The
Kangaroo logo was created by artist Sreekandan V.A. (Manii).

The company’s current Managing Director, Mithun Chittilappilly is a Post Graduate in


Management from the University of Melbourne, Australia. In the year 2006, he joined V-Guard
as the Executive Director and in 2012, he was appointed as the Managing Director of the
company. Mithun Chittilappilly has previously worked with leading MNCs
like Deloitte & Hewlett Packard.

Chairman and founder, Kochouseph Chittilappilly was born in 1950 in Thrissur


District, Kerala into a family traditionally engaged in agriculture. He holds a master's degree
in Physics and began his career as a Supervisor in an electronics company. He is one of the
founder promoters and was also the acting Managing Director of the company till in April,
2012 he passed the baton on to his son Mithun Chittilappilly.The Company have Electro-
Controls Division is a state-of-the-art facility for the production of stabilizer cabinets, the fully
automated, ISO 9001 certified Electrical Cable Division located at Coimbatore facility that
manufactures electrical cables starting from 0.25sqmm size to 10sqmm size and the Solar
Water Heater plant uses international manufacturing technologies with high quality standards.

The company received Vyavasaya Jyothi Award from the Ernakulum Chamber of
Commerce for the year 1996 and also Industry Excellence Award for Medium Scale Industries
from The Institution of Engineering (India), Cochin for the year 1998.Kochouseph
Chittilappilly ventured into the leisure industry in the year 2000, established Veega Land one
of the most attractive amusement parks in the country, with a spectacular range of rides and
entertainment, located at Pallikara in Kochi. Veega Land has lent a new dimension to the
tourism scenario in Kerala. Veega Land is the first amusement park in the country to be
awarded the ISO 14001 - 2004 Certification for environment friendliness and conservation of
natural resources.

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The company won the Kerala State Tourism Award for the year 2001 - 02 for being the
eco-friendliest tourism project through its group company Veega Land. As a successful result
the V-Guard Group has set up their second and India’s biggest amusement park Wonder La in
Bangalore. V-Star Creations a subsidiary of V-Guard manufactures designer in garments and
lingerie.
V-Guard recently ventured into states of Maharashtra, Haryana, Madhya Pradesh,
Orissa, Himachal Pradesh, Chhattisgarhi, Uttar Pradesh and Gujarat. Under in expansion the
company plans to set up a factory in Coimbatore, for producing L.T. Power Cables and another
unit in Himachal Pradesh or in Uttaranchal for producing domestic cable. In 2008, the company
entered in capital market with IPO of 80,00,000 of equity shares of Rs.10 each.
The origin dates back to 1977, when Mr. Kochouseph Chittilappilly with a burning
passion to make a difference set out to build a robust brand in the Indian electric and electronic
goods panorama. With a small manufacturing unit for voltage stabilizers, a vision and a strong
make-do belief, apart from a capital of Rs. 100,000 borrowed from his father and two workers
to assist him, he set sail on his dream.
V-Guard grew rapidly to become a name synonymous with voltage stabilizers across
South India. The company soon extended their range of products to Voltage Stabilizer, Digital
UPS, Inverter and Inverter Batteries, Electric Water Heaters, Solar Water Heaters, Domestic
Pumps, Agricultural Pumps, Industrial Motors, Domestic Switch Gears, Distribution Boards,
Wiring Cables, Industrial Cables, Induction Cooktops, Mixer Grinders, Fans, Rice Cooker, Gas
Stoves & Solar Power Systems.
Very soon the brand expanded its wings and is now available across the length and
breadth of the country with a wide range of products. The reputation has been built on sheer
passion and a continuous quest to understand its consumer better. With stringent quality control
measures, reliable products, talented people and a responsible approach to business, V-Guard
continues to steadily capture the hearts of people across the country. In its endeavour to reach
every nook and corner of the country V-Guard is armed with over 500 distributors, 3,000 direct
dealers, more than 20,000 retailers and service centers spread across the 29 states.
As we look into the future, it will be the endeavour of brand V-Guard to stay relevant
and aspirational to a world that is growing younger, every day. The quest is to understand
human life and its relationship with the tools and appliances he uses and to create a seamless
experience of thoughtfully engineered products in its endeavour to enrich consumer lives.
V-Guard Industries Limited (V-Guard) is an India-based company engaged in
manufacturing, trading and selling of electronic products. The Company's segments include
Electronics, Electrical/Electro Mechanical and Others. V-Guard's Electronics segment includes
products, such as voltage stabilizers, uninterruptible power supply (UPS) and digital UPS. The
Company's Electrical/Electro Mechanical segment includes products, such as PVC Cables,
Pumps and Motors, Electric Water Heaters, Fans, Switchgears, Induction Cooktops and Mixer
Grinder. The Company's Others segment includes products, such as solar water heater and solar
inverter. Its portfolio of products includes VIC 05, VG 400, VG 500, VIC 2000, Insignia and
Turbo Grind. The Company has its manufacturing facilities located at Coimbatore, Tamil
Nadu; Kashipur, Utharakhand; Kala Amb, Himachal Pradesh, and SIPCOT Industrial growth
center, Perundurai, Tamil Nadu, and Majhitar, Sikkim.

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OBJECTIVES OF THE STUDY

 To study about the functions of various departments and hierarchy of the organization.

 To know about the capital requirements, financial requirements, technical know-how, plant

& machineries, raw materials.

 To look after employee’s welfare.

 To contribute towards HRD.

 To know the CSR and quality measure adopted by the organisation.

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INDUSTRIAL PROFILE
The electrical equipment industry comprises several products such as transformers,
switchgears, motors and control equipment. A typical electric equipment component has a life
of 20-25years. The raw material cost of electrical equipment manufacturers is estimated at 50-
60% of sales. The industry grew at 13.7 percentage in 2010-2011. The growth rate of the Indian
electrical equipment industry decelerated to 6.6 percentage last fiscal. The Indian electrical
equipment manufacturing industry is witnessing a sustained growth momentum, with the
industry registering a double digit growth in the financial year 2010-2011, in spite of sustained
imports, especially from china and south Korea.

The Indian Electrical and Electronics Manufacturers Association (IEEMA), an industry


association of manufacturer of electrical, industrial electronics and allied equipment, has based
these growth figures on the production and sales data collected from its member organizations.
The electronics industry in India took of around 1965 with an orientation towards space and
defences technologies, which was initiated and controlled by the government. This was
followed by developments in consumer electronics mainly with transistor radios, black and
white TV and other audio products. In 1982, the government allowed thousands of colour TV
sets to be imported into the country to coinciding with the broadcast of Asian games in New
Delhi. The year 1985 witnessed the advent of computers and telephone exchanges, which was
succeeded by digital exchanges in 1988. The period between 1984 and 1990 was the golden
period for electronics during which the industry witnessed continuous and rapid growth.

From 1991 onwards, there was first an economic crisis triggered by the gulf war which
was followed by political and economic uncertainties within the country. Pressure on the
electronics industry remained though growth and developments have continued with
digitalization in all sectors, and more recently the trend towards convergence of technologies.
After the software boom in mid 1990s, India’s focus shifted to software. In recent year, the
electronic industry is growing at a brisk pace. It is currently worth $10 billion but according to
estimates has the potential to reach $ 40 billion by 2011. The largest segment is the consumer
Electronic Spare Part, which is also the largest export segment of components.

Presently, Indian exports of electrical equipment are less than 1 % of the global trade.
With the electricity sector being a sunrise sector across the entire developing world, there also
exists a significant export potential for the domestic industry, Industry experts believe the ideal
way forward to sustain the growth momentum would be faster goods and services tax (GST)
implementation, creation of level playing field, increased focus on exports and same
development. This will lead to further acceleration in the industry’s growth process and
contribute significantly reducing the power demand – supply gap in the country.

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COMPANY PROFILE
Started as Premiere Electronics by Promoter Mr. Kochouseph Chittilapilly in the year
1977.In November 15,2001 the company was converted into a private limited company and
again got converted into a public limited company on August 1, 2007.V-guard has crossed a
gross turnover of Rs. 1000 crores for the financial year 2011-2012.

V-guard industries limited is a house hold name across India, a Kerala based company
manufacturing and marketing of electronic products. Established in 1977 from the vision of the
one man, Kochouseph Chittilapilly. V-guard is nurtured by quality consciousness, passion for
hard work and the will to succeed. With a production of over 1,25,000 stabilizers and
processing 500 tons of copper every month. V-guard industries limited has crossed a gross
turnover of Rs.1000crores for the financial year. A point to be noted is that V-guard has
achieved a turnover of 100crores in 2000and has grown by the whopping 10 times in the last
11 years.
V-guard’s success is measured not in terms of financial considerations, but in terms of
customer satisfaction and quality that is built into every product. V-guard has employee
strength of more than 13200 and over 5500 indirect employees through its SHG initiatives.
With nearly 230 distributors and service centres and above 9500 retailers serving the needs of
a 50 million customers, V-guard stands as a market leader spread across all states in India
except North East and J&K, with prompt, efficient and courteous after-sale service, that is the
foundation for V-guard’s excellent customer relations. In fact, millions of satisfied customers
have played a pivotal role in promoting V-guard’s image.

Currently V-guard’s products are Electronic Voltage Stabilizer for TV, DVD,
Refrigerator and Air Conditioner. Digital Stabilizers, UPS, Monobloc/ Jet / Compressor
/Submersible Pumps, Electric Water heaters PVC house Wiring Cables, LT Power and Control
cables, Table Fans, Solar water heater, Digital UPS, MCB and Switch boards. The company
has electro control division in a state -of-the- act facility for the production of stabilizer
cabinets, the fully automated, ISO 9001 Certified Electrical Cable Division located at
Coimbatore, facilitating the manufacturing of electrical cable starting from 0.25sqmm size to
10sqmm and solar water heater plant uses international manufacturing technologies with high
quality standards.

V-guard brand name is a household name in India and helped a lot to promote other
products. At V-guard, quality is not an accident but a continuous process, beginning with the
careful selection of only the finest components through the best sources. From hi-tech product
designs to stringent quality checks at every stage of the manufacturing process, to ensure world
class performance, V-guard’s passion for perfection gets first priority. Then comes the service
to the customers. At V-guard success is measured in terms of customer satisfaction. The pricing
of the product also plays a major role in marketing. V-guard does not believe in creating an
artificial demand for their product. Before a product is advertised it is made available in the
market so as to avoid inconvenience and confusion to the consumer. V-guard supply chain
division is playing an important role in the safe distribution of goods all over the country with
speed.

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Founded 1977

Founder Kochouseph Chittilappilly

Headquarters Kochi, kerala, India

Key people Kochouseph Chittilappilly,


Founder and Chairman
Mithun Chittilappilly,
Managing Director

Revenue INR 21.50$$$$ Billion (FY 2016-17) ( Documents ()

Number of employees 2100

Website www.vguard.in

DEPARTMENTS MANAGER
GM& Plant Head - Mr. V. Sivakumar.
Production Dept - Mr. S. Saravanakumar.
Mr. Akilan.
Planning Dept - Mr. Eldhose C Mathew.
HR Dept - Mr. P. Selvakumar.
Quality Dept - Mr. Dheeraj.
Maintenance Dept -Mr. Karthikkumar.
Mr. Vinothkumar.
Store Dept - Mr. Susilkumar.

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OUR VISION
Let us endeavor to make V-Guard a trusted household name.

OUR MISSION
 To offer a range of products at affordable prices, which add to comfort of life through
saving in manual labour, time and energy or for entertainment.
 To make our products meet international quality standards and provide trouble free
performance.
 To adopt designs, which support timely and efficient post sale service.
 To continuously innovate and add value to our products, if needed with technical
collaboration.

SALIENT FEATURES

 Generates hot water without electricity or any other fuel.


 Huge saving on electricity.
 Storage tank is made of food Grade SS304L with Aluminium Stucco cladding. High
quality PUF insulation minimizes the heat loss of water inside the tank.
 Efficient performance in winter and partially cloudy days.
 High quality vacuum tubes.
 Huge saving on electricity and fuel charges.
 Type of Thermal Insulation - Polyurethane Foam (PUF).
 Absorber coating - AlN-SS-Cu coating.
 Inner tank Material- Stainless steel 304-L.
 Backup Heater Connector - 1¼.
 Available Capacities - 100, 125, 150, 200, 250, 300 LPD.
 Compact size, low height & lightweight.
 Fitted with Sacrificial Anode.
 Greater absorption area, auto sun tracking due to circular shape of vacuum tubes.
 ISI Electric backup heater (optional to the customer).
 Advanced technology at competitive rate.
 Operating Pressure - Max .4 kg/cm.
 Evacuated Glass Tube with absorber coating.
 Outer shell Material- Aluminium Stucco Sheet.
 Input / output connections - ¾.
 Stand Parts Material- Mild Steel with Black Powder Coating.

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ORGANISATION CHAT

Managing
Director

Director

Vice President Of
Manufacturing

GM &Plant
Head

HR
Manager

Quality
Manager

Production
Manager
worker

Store Manager

Maintenance
Manager

Finance &
Accounts
Manager

Planning
Manager

Purchase
Manager

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FUNCTIONAL DEPARTMENTS

 Planning Department

 Purchase Department

 Store Department

 Production Department

 Quality Department

 Maintenance Department

 Human Resources Department

 Finance Department

 Research and Development& Logistics Area

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PLANNING DEPARTMENT
Planning is the process of thinking about the activities required to achieve a desired
goal. It involves the creation and maintenance of a plan, such as psychological aspects that
require conceptual skills. There are even a couple of tests to measure someone’s capability of
planning well. As such, planning is a fundamental property of intelligent behaviour. An
important further meaning, often just called "planning" is the legal context of permitted
building developments. word is derived from the Greek idea of a society, which makes rules
and laws in an attempt to establish order. Such discipline carries many negative connotations,
yet the Greeks realized that orderly rules in their daily lives would result in a more civil and
polite world.
This same ancient civilization was often led by a general, strategos, from which we
derive the word, strategy. This leader would concern himself with long-term goals. As opposed
to individual foot soldiers who would fight in small skirmishes and separate battles,
the stratword is derived from the Greek idea of a society, which makes rules and laws in an
attempt to establish order. Such discipline carries many negative connotations, yet the Greeks
realized that orderly rules in their daily lives would result in a more civil and polite world.
This same ancient civilization was often led by a general, strategos, from which we
derive the word, strategy. This leader would concern himself with long-term goals. As opposed
to individual foot soldiers who would fight in small skirmishes and separate battles,
the strategos was concerned with the ultimate results of war. It is not over simplifying to say
that the soldiers followed rules (or policies) while the generals provided strategies for long term
survival.
This discussion, of course, is pertinent to our modern business world. While companies
and departments can increase efficiency by utilizing well-defined policies, their long-range
survival depends on a sense of strategy. No entity, whether a civilization, commercial business
or a department within a firm, will continue to exist without a plan for the future. For this
insight, we are indebted to the Greeks.
In this section, we will begin by considering some elements of strategy. We will then
review the reasons for a department to develop its own strategic plan, present a method for
such development, and guide you through a step-by-step process that will result in a plan that
is tailored to your own special needs.
There are four elements that should be considered in a theoretical study of strategic
plans. While academic in nature, it is useful to start by briefly identifying these points so we
can understand the direction to be followed. Strategic plans will normally address longer
intervals than policies and procedures, but how long should the period be? Years ago, it was
common for companies to develop five and seven year strategic plans. On the other end of the
spectrum, some modern managers' long range plans have consisted of where they will go for
lunch. The selection of a proper time frame is critical, and how it is done will be discussed
later. This means that strategy is not developed by putting together bits and pieces - commonly
referred to as inductive reasoning - and arriving at a coherent whole. Instead, the method is one
of visualizing the larger concept first, and then finding the mechanisms that will help one reach
that goal. We deduce specific actions from our greater strategic view.

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This is the same approach that is used in developing a business strategy. We cannot
become overwhelmed with details, but a forward thinking strategy relies on an intuitive feel for
our organization's strengths and weaknesses. A department's plan must be all encompassing,
fitting neatly with the goals of the organization as a whole. Specific parts of the plan cannot be
mutually exclusive.
This discussion, of course, is pertinent to our modern business world. While companies
and departments can increase efficiency by utilizing well-defined policies, their long-range
survival depends on a sense of strategy. No entity, whether a civilization, commercial business
or a department within a firm, will continue to exist without a plan for the future. For this
insight, we are indebted to the Greeks.
In this section, we will begin by considering some elements of strategy. We will then
review the reasons for a department to develop its own strategic plan, present a method for
such development, and guide you through a step-by-step process that will result in a plan that
is tailored to your own special needs.

Planning Function
Planning means looking ahead and chalking out future courses of action to be followed.
It is a preparatory step. It is a systematic activity which determines when, how and who is going
to perform a specific job. Planning is a detailed programme regarding future courses of action.
It is rightly said “Well plan is half done”. Therefore, planning takes into consideration
available & prospective human and physical resources of the organization so as to get effective
co-ordination, contribution & perfect adjustment. It is the basic management function which
includes formulation of one or more detailed plans to achieve optimum balance of needs or
demands with the available resources.
According to Urwick, “Planning is a mental predisposition to do things in orderly way,
to think before acting and to act in the light of facts rather than guesses”. Planning is deciding
best alternative among others to perform different managerial functions in order to achieve
predetermined goals.
According to Koontz & O’Donell, “Planning is deciding in advance what to do, how to
do and who is to do it. Planning bridges the gap between where we are to, where we want to
go. It makes possible things to occur which would not otherwise occur”.

Steps in Planning Function


Planning function of management involves following steps: -
1.Establishment of objectives

 Planning requires a systematic approach.


 Planning starts with the setting of goals and objectives to be achieved.
 Objectives provide a rationale for undertaking various activities as well as indicate
direction of efforts.
 Moreover, objectives focus the attention of managers on the end results to be achieved.

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 As a matter of fact, objectives provide nucleus to the planning process. Therefore,
objectives should be stated in a clear, precise and unambiguous language. Otherwise
the activities undertaken are bound to be ineffective.
 As far as possible, objectives should be stated in quantitative terms. For example,
Number of men working, wages given, units produced, etc. But such an objective
cannot be stated in quantitative terms like performance of quality control manager,
effectiveness of personnel manager.
 Such goals should be specified in qualitative terms.
 Hence objectives should be practical, acceptable, workable and achievable.

2.Establishment of Planning Premises

 Planning premises are the assumptions about the lively shape of events in future.
 They serve as a basis of planning.
 Establishment of planning premises is concerned with determining where one tends to
deviate from the actual plans and causes of such deviations.
 It is to find out what obstacles are there in the way of business during the course of
operations.
 Establishment of planning premises is concerned to take such steps that avoids these
obstacles to a great extent.
 Planning premises may be internal or external. Internal includes capital investment
policy, management labour relations, philosophy of management, etc. Whereas external
includes socio- economic, political and economic changes.
 Internal premises are controllable whereas external are non- controllable.

3.Choice of alternative course of action

 When forecast is available and premises are established, a number of alternative course
of actions have to be considered.
 For this purpose, each and every alternative will be evaluated by weighing its pros and
cons in the light of resources available and requirements of the organization.
 The merits, demerits as well as the consequences of each alternative must be examined
before the choice is being made.
 After objective and scientific evaluation, the best alternative is chosen.
 The planners should take help of various quantitative techniques to judge the stability
of an alternative.

4.Formulation of derivative plans

 Derivative plans are the sub plans or secondary plans which help in the achievement of
main plan.
 Secondary plans will flow from the basic plan. These are meant to support and
expediate the achievement of basic plans.
 These detail plans include policies, procedures, rules, programmes, budgets, schedules,
etc. For example, if profit maximization is the main aim of the enterprise, derivative
plans will include sales maximization, production maximization, and cost
minimization.
 Derivative plans indicate time schedule and sequence of accomplishing various tasks.

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4.Securing Co-operation

 After the plans have been determined, it is necessary rather advisable to take
subordinates or those who have to implement these plans into confidence.
 The purposes behind taking them into confidence are: -
o Subordinates may feel motivated since they are involved in decision making
process.
o The organization may be able to get valuable suggestions and improvement in
formulation as well as implementation of plans.
o Also the employees will be more interested in the execution of these plans.

Also, planning has a specific process and is necessary for multiple occupations
(particularly in fields such as management, business, etc.). In each field there are different
types of plans that help companies achieve efficiency and effectiveness. An important, albeit
often ignored aspect of planning, is the relationship it holds to forecasting. Forecasting can be
described as predicting what the future will look like, whereas planning predicts what the future
should look like for multiple scenarios. Planning combines forecasting with preparation of
scenarios and how to react to them. Planning is one of the most important project management
and time management techniques.
Planning is preparing a sequence of action steps to achieve some specific goal. If a
person does it effectively, they can reduce much the necessary time and effort of achieving the
goal. A plan is like a map. When following a plan, a person can see how much they have
progressed towards their project goal and how far they are from their destination. The Planning
department is responsible for complete manufacturing activities based on the input from
marketing department, central planning team in HO & provide the Daily plan, Weekly plan,
Monthly plan to the respective dept.
Number of tanks to be produced
 Plan the purchasing of raw materials for production,
 Plan given to the stores to dispatch send the FG products to the respective branches.

The business planning department is also commonly referred to as strategic planning.


This function analyses the long-term goals of the company which, in turn, informs the
development of organizational resources and strategic initiatives. The planning process isn't
without its challenges. In fact, companies make fatal flaws that could knock the most precise
strategic plan right out of the playing field.

Example: Marketing department want 100 solar water heater to inform a planning
department in next month plan. Planning department say the information to purchase
department. And the purchase department, say we want raw material to this date. Planning
department is giving the we want this type quality, quantity and this time.

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PURCHASE DEPARTMENT
Purchase refers to a business or organization attempting to acquire goods or
services to accomplish its goals. Although there are several organizations that attempt to set
standards in the purchasing process, processes can vary greatly between organizations.
Typically, the word “purchasing” is not used interchangeably with the word “procurement”,
since procurement typically includes expediting, supplier quality, and transportation and
logistics (T&L) in addition to purchasing. These departments provide a service that is the
backbone of many manufacturing industrial organization.

One role of the purchasing department is to procure all necessary materials needed for
production or daily operation of the company or government organization. For a manufacturing
company, this might include raw materials such as iron, steel, aluminum or plastics, but it also
might include tools, machinery, delivery trucks or even the office supplies needed for the
secretaries and sales team. In a retail environment, the purchasing department makes sure there
is always sufficient product on the shelves or in the warehouses to keep the customers happy
and keep the store well-stocked. With a small business, it is especially important to keep
inventory ordering at a reasonable level; investing large amounts of capital in excess stock
could result in storage problems and in a shortage of capital for other expenditures such as
advertising or research and development. Purchasing also oversees all of the vendors that
supply a company with the items it needs to operate properly.

A purchasing department also is charged with continuously evaluating whether it is


receiving these materials at the best possible price in order to maximize profitability. This can
be challenging for a small business that may purchase in lesser quantities than a larger vendor
and which thus may not receive the same type of bulk discounts. A purchasing department in
a small business needs to shop around to find the best vendors at the most reasonable prices for
the company's particular size orders. Purchasing department staff may communicate with
alternate vendors, negotiate better pricing for bulk orders or investigate the possibility of
procuring cheaper materials from alternative sources as part of their daily activities.

Purchasing departments handle all of the paperwork involved with purchasing and
delivery of supplies and materials. Purchasing ensures timely delivery of materials from
vendors, generates and tracks purchase orders and works alongside the receiving department
and the accounts payable department to ensure that promised deliveries were received in full
and are being paid for on time. In a small business, this means working closely with the
accounting department to ensure that there is sufficient capital to buy the items purchased and
that cash is flowing smoothly and all payments are made on time.

 To buy a product or service.


 A product or service that has been bought by an individual or business.
Planning department is give the purchase request to the purchase department and the
purchase department change the Purchase request is converted into purchase order for using a
SAP software. And purchase order goes to supplier.

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Purchase -order

Item no Part description Quantity Delivery day

01 Capacity sticker-300 30kg 09-08-2018

02 Capacity sticker-200 40kg 09-08-2018

Supplier will create the invoice

Delivery Challan

Sno Description Quantity Price Tax Delivery day

01 Capacity 30 kg 50000 18% 09-08-2018


sticker – 300
02 Capacity 40kg 35000 18% 09-08-2018
sticker – 200

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SCM FUNCTION

End User

Dealer

Branches

Ware house

Central Planner
dept (PR)

Purchase dept (PO)

Supplier

Material dispatch to
V Guard

Stores dept
(receipt entry)

Productio Dispatch
Return to Quality dept
n dept
supplier

Financial Dept
The material is The material is
rejection select
Payment credit to
supplier

17
STORE DEPARTMENT

The store typically accepts scrip or non-cash vouchers issued by the company in
advance of weekly cash pay checks, and gives credit to employees before payday. Except in
very remote areas, company stores became scarcer after the miners bought automobiles and
could travel to a range of stores. A professionally managed Stores has a process and a space
within, to receive the incoming materials (Receiving Bay), keep them for as long as they are
not required for use (Custody) and then to move them out of stores for use (Issue). In a
manufacturing firm this process forms a cycle to maintain and run the activities of Stores. The
basic responsibilities of stores are to act as custodian and controlling agent for parts, supplies,
and materials, and to provide service to users of those goods.

The basic job of the Stores Manager hence is to receive the goods and act as a caretaker
of the materials and issue them as and when Production demands it. Needless to say
storekeeping activity does not add any value to the product. In fact, it only adds to the cost.
The organization has to spend money on space i.e. expenditure on land, building and roads,
equipment, machinery and other facilities provided such as electricity, people i.e. salaries and
wages, insurance, maintenance costs, stationary, communication expenses and the cost to
maintain the inventory etc. All of these get added to the organisational overheads and finally
get reflected in the costing of the finished product. However, it is an essential function in any
manufacturing or marketing organization. This basic reason has propelled the evolution of
philisophies such as JIT, JIT II etc

In Marketing Department is give the order in mail to store Dept and they can be supply.
Planning department is give plan to Purchase department and that way work in Purchase
department is give plan to store and the store will be supply the product on the branch. In store,
they can buy the product, if any damages the material is comes and quickly give return to
supplier. And the supplier will be giving the quality material to the store. A quality material
and then they give for production department.
It all starts with a suitable Lay out design of stores. Depending upon the nature of items
used for processing by the organisation the lay out and type of stores are selected. For example,
a process that requires use of raw materials, not costly enough, an open and nearby stores
with truck / rail inside movement possibility can be adequate.

Similarly, for storing costly material, a closed and restricted type of stores shall be
needed. However, irrespective of the type and lay out, any Stores would have, as its starting
activity, receiving and accounting of the incoming goods. This part of Stores is known
as Receiving Bay.

Typically, and at times essentially, a Stores has to follow certain activities that are
managed through use of various resources and are thus called Stores Management. The task of
storekeeping relates to safe custody and preservation of the materials stocked, to their receipts,
issue and accounting. The objective is to efficiently and economically provide the right
materials at the time when it is required and in the condition in which it is required.

The Materials are

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19
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PRODUCTION DEPARTMENT

The production department is responsible for converting raw materials and other inputs
into finished goods or services. In between the processes of production, the department works
to improve the efficiency of the production or assembly line so that it can meet the output
targets set by company management and ensure finished products offer consumers the best
value and quality. The production department can be the largest organization within a
business. It may employee mechanics, machine setup specialists, maintenance personnel,
and machine operators. The company can be produces a various size of solar water heater.
That are 60 litres to 3000 litres.
The solar water heater can be 2 layers:

1. Inner tank
2. Outer tank

1. INNER TANK:

Sheet cutting:

Cutting a metal sheet using machine for take a measurement to cut a


sheet.

Power pressing:

Putting wholes in metal sheet in correct order.

Rolling:

It is roll a metal set.

Welding:

It is use to join the two side.

Sealant application:

It is one type of process, the welding area can be not come dust, that way
they will applied a sealant solution in welding area.

Collar welding:

Set an inlet pipe and also an outlet pipe in top & bottom of the tank, that
should be called as end cover of the tank.
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Seam welding:

It is use as designed a tank in directly.

Pressure testing:

The tank must be having any little bit whole or not properly welding,
that will find for use a pressure testing.

Inner tank

2. OUTER TANK:

Sheet cutting:

Cutting a metal sheet using machine for take a measurement to cut a


sheet.

Power pressing:

Putting wholes in metal sheet in correct order.

Rolling:

It is roll a metal set.

Welding:

It is use to join the two side.

22
Sealant application:

It is one type of process, the welding area can be not come dust, that way
they will applied a sealant solution in welding area.

Lapping:

The inner tank and outer tank are join and the tank will have sealed. The
tank is come a cylinder type.

Edge grooving:

The end cover is sealing that way use the grooving in end area.

Puf insulation:

Assembly the two tank, that is inner tank is put in the outer tank, that
way use the Inner and outer can be combine for using the puf insulation.

Final stage:

The tank can ready, they will cover the tank.

Outer tank

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QUALITY DEPARTMENT

This department is responsible for testing each component that is to be used in the
manufacture of a product. The test is done over a period of 21 days in which the suitability and
usability of the component is tested. It is checked whether it meets the expectations of the
company. Components as minute as screws, bolts etc used only after they have been tested at
this centre. Suppliers who are interested in supplying their materials to the company are made
to submit a sample with the centre. Major suppliers are Keltron and in cap. Harold Dodge, one
of the founders of quality management, changed our view on quality with a vital statement:
"You cannot inspect quality into the product." Dr. Deming helped make the quote famous. The
only problem with this statement is that it is decades old yet not nearly fully adopted by
manufacturing organizations or even their quality functions.

If you truly observe the behaviors and decisions of many companies, this would be their
working definition. But this is useless if the specifications don't meet customer expectations,
wants or needs. If you're in manufacturing, you might go back to your manufacturing team and
say, "Not my problem, I can only build what I'm given." But that won't sell your product, or
serve your organization.
Quality management is a recent phenomenon but important for an organization.
Civilizations that supported the arts and crafts allowed clients to choose goods meeting higher
quality standards rather than normal goods. In societies where arts and crafts are the
responsibility of master craftsmen or artists, these masters would lead their studios and train
and supervise others. The importance of craftsmen diminished as mass production and
repetitive work practices were instituted. The aim was to produce large numbers of the same
goods. The first proponent in the US for this approach was Eli Whitney who proposed
(interchangeable) parts manufacture for muskets, hence producing the identical components
and creating a musket assembly line. The next step forward was promoted by several people
including Frederick Winslow Taylor, a mechanical engineer who sought to improve industrial
efficiency. He is sometimes called "the father of scientific management.". From this period
onwards, North American companies focused predominantly upon production against lower
cost with increased efficiencyQuality leadership from a national perspective has changed over
the past decades. After the second world war, Japan decided to make quality improvement a
national imperative as part of rebuilding their economy, and sought the help
of Shewhart, Deming and Juran, amongst others. W. Edwards Demingchampioned Shewhart's
ideas in Japan from 1950 onwards. He is probably best known for his management philosophy
establishing quality, productivity, and competitive position.
The Customer
To start building your quality system, you must begin with the end in mind.
Specifically, what does the customer truly value? It may not be exactly what they tell you they
care about. You need to be able to take their feedback, your observation and good data on their
behaviors to understand the customer's true values.

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The Inputs
On the other end of the system, you must understand the key levers as inputs to a good
quality output. Basically, if we do these things right, our results should be just fine. For
example, how both materials or parts and information is presented to users is crucial
The Feedback
Since quality is dynamic, we cannot just design it out of the system; we have to
effectively react to it. Your feedback, and feed-forward, loops must be designed to be visible,
relevant and timely. Too often, the feedback isn't getting either to the people inadvertently
causing the problem, or to those who can do something to fix it. And if it is, we create multiple
quality signals that tell us eight different things in eight different ways.
The Problem Solving
Perhaps most importantly, you must connect and engage effective problem solving for
the issues found. Too many think this means the procedure of whether we do an 8D or an A3
or a Six Sigma project. But more important than the tool or template is the effort taking place.
The Quality Department
I wrote many of the key items above as questions rather than just critical success factors,
in part because I'm getting ready to assess an organization's quality system, but also because it
is the role of the quality department. The role of the quality department shouldn't just be to fix
the biggest problems on the list. They should be the chief architects of the quality design,
designing and redesigning the feedback loops, understanding the customer's real needs, and
being great coaches of problem-solving efforts.

Product costing:
This segment deals with the costing of the products after adding the cost of raw
materials and margin of profit.

Sheaving:
Cutting the meal sheet in correct measurement and in correct way and check a
diameter is 2mm length, dc is 2mm, var level is 0.25.

Power Press:
The machine is put whole in a metal sheet for have some measurement metre
that are diameter is 63.25mm and pitch is 86mm.

Linear Auto Tag Welding:


To check a machine current, speed, air pressure, argon gas pro, senor setting
and stopper setting for the correct welding for the metal sheet.

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Edge Flanging:
To check a machine air pressure in 0.6, roller clearer is 0.05 to 0.06, flagging
height is 9 to 11.

Pipe welding and collar welding:


To check the machine

Sno Pipe welding Collar welding

Current 80 to 100 amp 90 to 110 amp

Speed 2 to 2.25 1.5 to 2.5

Air pressure 0.6 0.6

Argon gas flow 5 to 7 11

Steam welding:
To checking a machine current is 5 amps, speed is 4.5, air pressure is 0.6, time
regulation is 99, welding point is 02, pulse frequency is 01, squeeze time regulation 2.5.

Safety for welding workers:


 Welding gloves
 Welding helmet
 Welding goggles
 Welding sleeve
 Nose mask
 Safety shoes

MAINTENANCE DEPARTMENT

The technical meaning of maintenance involves functional checks, servicing, repairing


or replacing of necessary devices, equipment, machinery, building infrastructure, and

26
supporting utilities in industrial, business, governmental, and residential installations. Over
time, this has come to often include both scheduled and preventive maintenance as cost-
effective practices to keep equipment ready for operation at the utilization stage of a system
lifecycle. The Maintenance Department is responsible for the proper operations of the various
campus buildings and their mechanical subsystems. The Department and its sub-department,
Grounds, assumes responsibility for the basic functioning of the campus facilities and
stewardship of the campus grounds.

Duties or Functions of Maintenance Department:


(A) Inspection:
 Inspection is concerned with the routine schedule checks of the plant facilities to
examine their condition and to check for needed repairs.
 Inspections ensure the safe and efficient operation of equipment and machinery.
 Frequency of inspections depends upon the intensity of the use of the equipment. For
example, belts in a machine may be checked every week; furnace equipment every
month; an over-head bridge crane every four months and so on.
 Inspection section makes certain that every working equipment receives proper
attention.
 Items removed during maintenance and overhaul operations are inspected to determine
the feasibility of repairs.
 Maintenance items received from vendors are inspected for their fitness.

(B) Engineering:
 Engineering involves alterations and improvements in existing equipment and building
to minimize breakdowns.
 Maintenance department also undertakes engineering and supervision of constructional
projects that will eventually become part of the plant.
 Engineering and consulting services to production supervision are also the
responsibilities of maintenance department.

(C) Maintenance (including Preventive Maintenance):


 Maintenance of existing plant equipment.
 Maintenance of existing plant buildings, and other service facilities such as yards,
central stores, roadways, sewers, etc.
 Engineering and execution of planned maintenance, minor installations of equipment,
building and replacements.
 Preventive maintenance, i.e., preventing breakdown (before it occurs) by well-
conceived plans of inspection, lubrication, adjustments, repair and overhaul.

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(D) Repair:
 Maintenance department carries out corrective repairs to alleviate unsatisfactory
conditions found during preventive maintenance inspection.
 Such a repair is an unscheduled work often of an emergency nature, and is necessary to
correct breakdowns and it includes trouble calls.

(E) Overhaul:
 Overhaul is a planned, scheduled reconditioning of plant facilities such as machinery,
etc.
 Overhaul involves replacement, reconditioning, reassembly, etc.

(F) Construction:
 In some organizations, maintenance department is provided with equipment and
personnel and it takes up construction jobs also.
 Maintenance department handles construction of wood, brick and steel structures,
cement and asphalt paving, electrical installations, etc.

(G) Salvage:
 Maintenance department may also handle disposition of scrap or surplus materials.
This function involves:
 Segregation, reclamation and disposition of production scrap, and
 The collection and disposition of surplus equipment, materials and supplies.

(H) Clerical Jobs:


 Maintenance department keeps records:
 Of costs,
 Of time progress on jobs,
 Pertaining to important features of buildings and production equipment; electrical
installations; water, steam, air and oil lines; transportation facilities (such as elevators,
conveyors, powered trucks, cranes, etc.), etc.
(I) Generation and distribution of power and other utilities.

(J) Administration and supervision of labour force (of maintenance department).

(K) Providing plant protection, including fire protection.

(L) Insurance administration.

(M) Establishing and maintaining a suitable store of maintenance materials.

(N) Janitorial service.

(O) Housekeeping.

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 Good housekeeping involves upkeep and cleaning of equipment, building, toilets,
wash-rooms, etc.

(P) Pollution and noise abatement.


Organisation of Maintenance Department:
 The buildings, plant and services are called by the accountant fixed assets and in many
companies they form at least 50% of the money invested.
 In any company, small or big, it is therefore essential that some part of the main
organization should be responsible for maintaining these important assets.
 The section or department which preserves and looks after the upkeep of equipment,
building etc., is called maintenance department.
 To work satisfactorily, the maintenance department has an organization structure.
The marine transportation, offshore structures, industrial plant and facility
management industries depend on maintenance, repair and overhaul (MRO) including
scheduled or preventive maintenance programmes to maintain and restore coatings applied to
steel in environments subject to attack from erosion, corrosion and environmental pollution.
A reasonably clear division of authority with little or no overlap. Vertical lines of
authority and responsibility should be kept as short as possible. In other words, a level which
simply transmits information up and instructions down should be eliminated. Keep optimum
number of persons (3 to 6 is the average value) reporting to an individual. Fit the organisation
to the personalities involved. This means that the organisation structure should be flexible and
it may be revised periodically to fit changing personnel and conditions.

1. Break down maintenance:


Machine can be repair after go and work.

2. Prevalent maintenance:
The machine oil can be replacing after 1 week, that way the maintenance department
person can replace the oil in this week time.

If sometime machine can repair on the time in production department, that time the
production department can give a report maintenance is called a Machine Services Report.
Maintenance Department is give the Machine Services Report that is what problem in
machine and how many hour machine cannot be work. And also the Maintenance
Department is maintenance and safety some emergency part.

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HUMAN RESOURCES DEPARTMENT

Human resources specialists are responsible for recruiting, screening, interviewing and
placing workers. They may also handle employee relations, payroll and benefits and training.
Human resources managers plan, direct and coordinate the administrative functions of an
organization. Human resources (HR) is the company department charged with finding,
screening, recruiting and training job applicants, as well as administering employee-benefit
programs. As companies reorganize to gain competitive edge, human resources play a key role
in helping companies deal with a fast-changing environment and the greater demand for quality
employees. They oversee specialists in their duties; consult with executives on strategic
planning; and link a company’s management with its employees. Some typical daily tasks for
an HR worker include:

 Consult with employers to identify needs and preferred qualifications.


 Interview applicants about their experience, education and skills.
 Contact references and perform background checks.

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 Inform applicants about job details such as benefits and conditions.

When you outsource HR functions, some services go with the "all-or-nothing" approach,
requiring that they handle all your HR functions or none at all. Others offer their services "a la
carte," meaning you can pick and choose from the services they offer. Typical services include:

 Payroll administration, including produce checks, handling taxes, and dealing with sick
time and vacation time.
 Employee benefits, including health, medical and life insurance, 401(k) plans and
cafeteria plans.
 HR management, including recruiting, hiring and firing. This also includes background
interviews, exit interviews and wage reviews.
 Risk management, including workers' compensation, dispute resolution, safety
inspection, office policies and handbooks.

Some services are full-service and will provide these as well as additional services like
on-call consultants, who will come in to train or even settle a dispute. A human resources
department is an essential, if not critical, component of any business regardless of the
organization's size. It is primarily focused on maximizing employee productivity and protecting
the company from any issues that may arise from the workforce. HR responsibilities include
compensation and benefits, recruitment, firing and keeping up to date with any laws that may
affect the company and its employees. John R. Commons, a pioneering economist, first coined
the term “human resource” in his book "The Distribution of Wealth," which was published in
1893. However, it was not until the 19th century when the term was developed to address
misunderstandings between employees and their employers. Research conducted by The
Conference Board has found six key people-related activities that human resources must
effectively do to add value to a company. These are:

 Effectively managing and utilizing people.


 Tying performance appraisal and compensation to competencies.
 Developing competencies that enhance individual and organizational performance.
 Increasing the innovation, creativity and flexibility necessary to enhance
competitiveness.
 Applying new approaches to work process design, succession planning, career
development and interorganizational mobility.
 Managing the implementation and integration of technology through improved
staffing, training and communication with employees.

HR departments are expected to perform human resource management (HRM) strategies.


HRM is a strategic and comprehensive approach to managing employees and the organizational
culture and environment. It focuses on the recruitment, management and general direction of
the people who work in an organization. HR is also more involved in improving the
organization’s workforce by recommending processes, approaches and business solutions to

31
management. For example, in IKEA, HR shifted its focus on values and cultural fit rather than
skills and experience in recruiting employees.

Outsourcing Human Resource Functions

The HR departments of large companies have been moving away from traditional
personnel, administration and transactional functions since the start of the 20th century. These
functions are increasingly outsourced to free the department to recommend and implement
meaningful and value-adding programs that impact the business in positive ways. Functions
typically outsourced include payroll administration, employee benefits, recruitment,
background checks, exit interviews, risk management, dispute resolution, safety inspection and
office policies. JP Morgan Chase & Co. had most of its core HR functions transferred to its
sites in the Philippines. Emerson Electric Co. uses an online HR outsourcing company for its
payroll services.

HR Policy

The basic principles of V-Guard human resource policies include:

 Recruitment based solely on merit by following well-defined and systematic


selection procedures without discrimination.

 Sustain motivated and quality work force through appropriate and fair performance
evaluation, reward and recognition systems.
 Identify training needs within the organization and design and implement those
need based training programmes resulting in continuous up gradation of knowledge,
skill and attitudes of the employees.
 Maintain a quality human resources management system plan, design, train and
equip, motivate the department staff to meet this standard of expectation.

Role of Human Resource Manager

The human resources management team suggests to the management team how to
strategically manage people as business resources. This includes managing recruiting and
hiring employees, coordinating employee benefits and suggesting employee training and
development strategies. In this way, HR professionals are consultants, not workers in an
isolated business function; they advise managers on many issues related to employees and how
they help the organization achieve its goals.
 The company provides complete power and authority to the HR officer for
recruiting the supervisors, employees, worker’s assistants on the basis of
educational qualification for the jobs availed.

32
 The HR officer is also responsible for the payment of salary, bonus, incentives,
pension, insurance claims and retirement facilities to the employees of the company
and he is associated with the payment of wages to labors.

 The middle level management like departmental heads are appointed by the General
Manager along with the guidance and control from head office and he is confined
to be changed for every three to six years by their performance.

 The HR section recruits the people in and around Tirupur, Coimbatore, Erode.

 Mostly, the management prefers newspaper ads and TV ads for recruitment.

 The HR officer is also responsible for the payment of salary, bonus, incentives,
pension, insurance claims and retirement facilities to the employees of the company
and he is associated with the payment of wages to labours.

 The HR officer also takes the responsibility for the settlement of salary, wages and
incentives to the employees at respected period of time without any delay.

QUALIFICATIONS
 Recruitment is completely processed like any other company by the HR manager.
 The company expects the minimum literacy rate (i.e.) SSLC for the lower level
workers, the diplomatic courses and graduates for the middle level management and
Diploma in textile technology to employ in production department.
 The HR department is also engaged with media and print agencies for TV Ads and
posters in case of scarcity of employees.
 Training is provided for middle level management for the period of three to four
months.

FINANCE DEPARTMENT

Financial department of a business takes responsibility for organizing the financial and
accounting affairs including the preparation and presentation of appropriate accounts and the
provision of financial information for managers. It is responsible for preparing journals,
ledgers, statements like trial balance, balance sheet, cash flow statement. It is also in charge of
the calculations of the income tax and also the payment at the right time.

The finance department had got 40 employees in the corporate office and around 65
employees outside the firm to support their activities. The finance department in V-Guard
industries limited is headed by Mr. Jacob Kuruvila. V-Guards share value in market ranges
from 195-200 Rs. /share.

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V-Guard has implemented ERP named Lakshya to make easy recording of transactions
and better presenting of results within limited time. All eyes are on corporate-finance
departments as they are asked to cut costs, reassess risks, and cope with the deep uncertainty
generated by the current economic crisis.

In this survey,1we asked finance and other senior executives how their finance departments
have changed since the crisis began: what new challenges these departments are facing; which
activities are taking up more, and less, of their time; whether their centralization or outsourcing plans
are being modified; and how the CFO’s focus has shifted.

The results suggest that, at least so far in the current economic crisis, not many companies
have made the kinds of structural changes that could most help the finance organization to boost its
performance. Few respondents report that their companies have modified the organizational
structure to give CFOs formal responsibility for more activities through solid-line reporting
relationships. Fewer still report any increase in the degree or pace of centralization. Moreover, few
respondents report plans to increase the outsourcing or offshoring of finance activities.

We defined four possible roles for the finance function in a corporation. At one end of this spectrum,
the function focuses primarily on reporting and compliance, with most of its time devoted to
transaction management in financial accounting. At the opposite extreme, finance serves as an
integral part of the management team to support the creation of value by identifying opportunities
and providing critical information and analysis to make superior operating and strategic decisions.

The largest group of respondent’s report that in their organizations, the finance function falls
into the latter category, though not surprising the function’s role varies considerably across
industries. CFOs in manufacturing, for example, are significantly more likely to be value managers
than those in the financial-services industry, where the finance staff focuses more on transactions.

Respondents note a marked increase in the amount of time CFOs are spending in areas that
are critically important during a crisis—particularly, financial planning and analysis, financial-risk
management, strategic planning, and credit decisions (Exhibit 2). These areas of responsibility are
quite consistent with the most pressing challenges that respondents say finance staffs face:
forecasting business results for upcoming periods (31 percent), implementing cost-saving measures
(27 percent), and freeing up cash from working capital.

Functions

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 Managing cash transactions of the organisation.
 Managing accounts payable and accounts receivables.
 Maintaining journal voucher.
 Remote cheque printing function.
 Internal audit.
 Finalization, consolidation of accounts.
 Secretarial function.
 Tax remittance.
 Scrutiny and approval of funds needed by various departments of the organization.
 Disbursement of wages / salaries.

V-Guard us expecting a turnover in sales from 1000 to 1350 crores in this financial
year. Out of the total turnover 65% is contributed by south Indian market in which Kerala alone
contributes 40%, there after Tamilnadu and Andhra Pradesh 35% of turnover is contributed by
northern states. Financial account is the field of accounting concerned with the summary,
analysis and reporting of financial transactions pertaining to a business. Financial statements
prepared and presented by a company typically follow an external standard that specifically
guides their preparation. These standards vary across the globe and are typically overseen by
some combination of the private accounting profession in that specific nation and the various
government regulators. Variations across countries may be considerable making cross country
evaluation of financial data challenging. In general, the larger the company, the lower the cost of
its finance organization as a percentage of revenues. Respondents in companies with annual
revenues upward of $1 billion are more likely than those at smaller companies to estimate the cost
of their finance function as less than 1 percent. This suggests that once the finance function
establishes its capacity to perform, its size doesn’t necessarily grow as revenues do.

In spite of the strong emphasis on cost management generally, a remarkably high percentage
of the respondents over two-thirds report that their companies are not currently outsourcing or
offshoring any finance activities. Among those that are, 67 percent report no change in the pace of
either activity. However, larger companies are likelier to be taking this route than smaller ones are.

This probably explains the ambivalence among respondents toward changing the
governance model for finance because of the global economic turmoil. Fewer than a quarter of the
respondent’s report that their companies are moving toward tighter control through a solid-line
governance model for the finance function.

Instead, companies seem to be relying on the CFO’s more informal influence. Fifty-three
percent of the respondents, for example, say the CFO and finance function should provide more

35
leadership in educating the organization to focus on costs and revenue, while only 13 percent believe
they should gain direct responsibilities for business development.

Further, 55 percent of the respondents (and 63 percent of those at the largest companies,
with annual revenues of $10 billion or more) say that since the crisis began, the finance function’s
role in the corporate center has strengthened. The proportion of respondents who say that the
function’s role hasn’t changed outside it for example, in business units is surprisingly high, however,
at 51 percent, among those who have an opinion; nearly a quarter don’t.

The Role of Accounts Manager


The purpose of management accounting in the organization is to support competitive
decision making by collecting, processing, and communicating information that helps
management plan, control, and evaluate business processes and company strategy. The
interesting thing about management accounting is that it is rare to find an individual within a
company with the title of “management accountant.”

Often many individuals function as accountants within the organization, but these
individuals typically operate as financial accountants, costs accountants, tax accountants, or
internal auditors.

However, the ability to develop and use good management accounting (which covers
a lot more ground than the product costing done by cost accountants) is actually an important
ability for many individuals, including finance professionals, operational and marketing
managers, top-level executives, and information technologists.

 The company also maintain records in every case of single transaction with the proper
proof.

 Even, the working capital amount is issued by the accountant. So, it is very essential
for the company to maintain some accounting transactions with the bank.

 The company is very sure about its confidential matters that it does not let out its
banking friend and transaction details.

 The funds from the office are completely transferred to the Account section after the
termination of proper formalities with the General Manager of the company.

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RESEARCH AND DEVELOPMENT
The ingenuity of the R&D team plays a pivotal role in V-Guard persistent guest for
innovation. A confluence of design and technological functions, the team relentlessly works
towards creating cutting – edge products. The strength of V-Guard emanates from its dynamic
R&D that painstakingly tests and refines product designs. R&D lab at cochin and erode explore
and reinvent existing product technology and design. R&D for electronic products and electric
geysers are carried out in cochin while electro-mechanical products, electrical wires and solar
water heater anchor the Erode R&D outfit.

Functions:
 Facilitate innovation in product.
 Product development as per marketing requirement.
 Improvement, modification replacement of products.
 Supporting customer service department in terms of technical support.

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LOGISTICS AREA
The company can put the agreement to the transporting company for the 1 year or 5
years.
Example

The company is sent the 500 solar water heater for a lorry to this branch. The logistics
manager is give the “transport receives copy order” to the lorry driver. The driver is going
on the branch and the delivery the product to the branch and the branch manager will be
sign the “transport receives copy order” and that order is given to the lorry driver. The lorry
driver is return to the same company and give the order to the logistics manager. And the
logistics manager is given the money to lorry driver for the transferring the product.

CONCLUSION
V-Guard proves to be a trusted household name due to the quality and support it offers
to its consumers. The company was able to achieve new heights year after year only because
of the understanding and coordination between the management and the staff. V-Guard has
been able to develop new products as per the customer’s perceptions and tastes and offering
consistent performance of the products. The company also has a goodwill it has brought up by
the dedicated social welfare activities it is doing in different parts of the India. So in a nutshell
we can say that the V-Guard is ‘the name which all can trust’. The company is focussing on its
vision for this “let us endeavour to make V-Guard a trusted household name”.

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