CHAPTER - VEI

Ill illls lill,ll ch;lpLcl a illllllllary of the observations dwlllg ti,e study

of Llle coollclallve supel b;l/a<l~s ol Alldllra Pradesll and collc]uslons dlaWll we

p~ese~ltctl Aftel $1 5tully ol'tllc f~lcts, leal~tles and ncba] financial pelfonnmce

In gcllCI.ll illlll ~ l l lk l l l l : ~ c l l ~ l t : l I ~ ] ~ l f ~ l l I I ~ l l c e 111 pattlcular of fifteen selected

COnFLllllCl C O - O ~ ~ C I C ~ I I V I : i I I I l C I bil~dfll? of tllc Illlee leglons of Alldlua Ptadesll

(klyai;l5cclll~l. ('0;lii;ll i<cyloll alltl l'elengalla), ( l u n g a pellod of tell yeus,

(1991-92 lo 2000-OI), solne wo~knble measules ale suggested in tlus chapter to

ovclcotnc tllc bnt~le~lccks [ I ~ ; I L have bcc11 obshschng the workulg of the smple

nolls I : t~~t l~e l , lo tollc 111) t l~c pcr[olm;ll~ce of these soc~et~es some viable

\llggChtlOllb i l lC i11'10 ~llgg~'1tCd I11 t l l l~ ~ ~ l i l l l t ~ l

I hc~~tct~c; l l ly lilt L O I I S ~ I I I ~ C I as the creatol and ptovlder of appottutnty to

V ~ I I I O I I S sectols of ccotlolny l ~ k c ~lldustty, agrlcaltu~e, trade etc, 1s supposed to be

a leal h111g 111 llle ~ I I S I I I C S S wotltl 11'i the entlle economlc actlvlty revoIves uound

Ill111 13111 111 teal~ty 11c llns lclegilted to s backwmtl posltlon, as a pelson of no

conscqucncc In tllc lliilrket l n ~ l ~ c u in fact he has been the vichm of the ~uthless

ant1 exploltll~g ~n~tltllctnca 111 the cl~annels of d~sfnbubo~i slncc tune nnrnc~nor~d

Wttllo~tt tile CUS~OII IC~ 'S rteetl al~tl demmd for a product or semces, no llldustry

call extst ~ l l e survival i~nd prosperity of an uldustry lnnlnly depends upon the

extent to which it meets the sitoshct~on of the consumer Butyethls lntelests

the most neglected by those who prosper at hls expense. They have created an

ellvtronlnent in whtch they seem to enjoy all monopoly and abnormnl at

the coql ol Loll~il~rlcfs fh'cil f l k l live decr~tles aftel. tlie dawn of lIldependetlce

am counlty. lhc cll l l~lllnc~ co11lll1llCS to trap In the explo~tatlv~ siluattoll

Exl~loltlng bi~s~tlcuilnen 111111 ln~dtlle~ncn lntlulge 111 v ~ l o l l s malplactlces

such ;IS L I I I ~ ~ C I - W ~ I ~ ~ I I I I ~ I I ~ , atlultelat~oi~ of goods, sellltig of tnfetio~, spmlous and

dlipJ~~;ile ~ n o ~ l r . ~ni?cl~~cvrior :and eiideatlrng adve~t~sements, fixlllg i~ratlotial

and c x o l l ~ ~ l ; ~ ~ ~ t pllbCi, llc-1111 $ale\, fill% glolilllg of goods 81id lilbellng, l l ~ d l r ~ ~

I I I ~ ~ ~ T I , I I I U I I 1111 llle pack111g slrout (lie Feattules of goods, lack of ptonipt setvlce

artct siilca, lllc hcllltlg uf cxplletl mctilcltles, snd a f i ~ ~ f e r ~ o ~ and dupllcnie and

llillllllul lllcrll~lllcs llllll $0 on

I'llc qltoc~llon of cotison~e~s i u fa1 1io111 snt~sfilctory, not ollly in India but

illso 111 tlic I I ~ I I C I ( I C V C ~ O ~ ) I I ~ ~ Coi~nllles COIISLI I~~IS ale getielally taken for

gtantetl 'llic clltlic c ~ i ~ s l ~ i t ~ g burden of exo~bitant prlces of co~nlnod~hes IS

t ~ a n s f c ~ ~ c i l to I ~ I C I I ' i l~~illdets It IS nntli~al that a cotnpcllll~g need is felt not o~ily

to club tllc melpiaclices o r plofit-scckiug bi~s~nessmen but illso for an effective

alte~nntlve t l ~ s l ~ ~ b a t ~ o n system to safeguard the 111tetest of consumels A system

has to bc rlcslgncd, adoptctl and ~ml~lemented III such a way as to elllnlnate

~ ~ n s c t u p o l o ~ s m~dillc~nco, and ilnetl~~oal bustnessmen md all the~r m~des~rable

and llatrnfill busll~ess ptnct~ces

In oui comltry a numbel of mensules have been introduced fiom m e to

tlmc to t l ~ ~ e c t ;lnd cotltrol the d~slrlbution system However, expellence has

diown that these coj~trols have not been sufficiently effective to Pfotect

Interest of consumers. Sometllnes the efforts of the government seem to have

becirlne futilc exelclscs 11 Is ev~denl that the state ltitemelltloll alone is not

adequate to solve lllc ploble~ns in t l~e ma~ket er~vllollmellt tllose

consumets I-lcn~c, the llcetl for ndopttng c o m p l e ~ n e n t ~ uld supplemetltuy

rneil?liruq I~ac [)OCII i l l~ l lg ly felt to tackle effic~entiy the social alld

menacc 01 L(III$IIIIIL.I C X P I O I ~ R ~ I O I I III fact t h ~ n k ~ ~ ~ g 011 S U C ~ I lines 8s tliese llJs led

to l l ~ c s t ; ~ ~ t ~ n g (11 con5~1111el co-opelilbves to handle the lmpoltant d ~ s n t b ~ t ~ ~ ~

actlvlly

C o ~ ~ s u m c l co-opc~altves arc voluataly ilssoctatlons of coilsulncls

theu~selvcs lo ntgillllsc tlie procurerneat ant1 dlstrlbut~on of essent~al food ~ t e ~ ~ i s

to cu111 lllu cnpll)~litlt~)r~ in the rnil~ket In 0111 coi~i~try they ale ass~gned a p~votnl

~o lc , 21s oilc of v ; ~ ~ l o u s incnsutes takct~ lby tlre govelnrnerlt to a11e~t the pllce h~ke,

IIIIII as a soili~blc rncalls ~ O I consurnel plotectlon agirlrlsl explo~lat~on S~nce there

IS also at1 i ~ n l n ~ ~ l c n t need f o ~ add~t~onal cl~t~linels to supplement tllc eKo~ts or the

c1v11 suppl~os t l cp i~~tn~enl III tlrc d1~111butto11 of esseiltlal goods to consumers,

consume] co-opelatives alc expected to fulfil that need They ate also expected to

sul~ply goods of cltrallty at ~ensollnble pricei The Gova~lment of India has been

c o n ~ ~ n ~ t t l l ~ g 11sc1f in its silccesslvc plans to help both finnnc~ally and phystcally

constllner co-opelat~vcs on R pr~onty basls. It has been telteratlng its policy to

shcngthetl the public dlstribut~on system thtough the develo~mellt of consllmw

ca-operatives to safeguatd the Interest of consumers

The many nets enacted by t ~ t e government even firom the days before

illdependence to safeguard the atstomer, are comprehensive and ellmmate

tile i ~ t ~ l ~ c a l ~ l i y t 1 ~ 1 1 ~ 1 ~ 111 ttlc lllillktt e n v l l o n ~ n e ~ ~ t alitl prolect consumers, plovlded

[]ley ale leipeLtcctl ;lllCI llnplclnelltct~ fnltllfillly by all concerned ln iettel Nld

s11111t Ih~ t t11:lt is !lot ll,lll~clllng All the ~ncasuies taken by the goverllment

illiecrerl : I ~ ~ I I I I \ ~ 1110 i l l l t l - \ o c I : ~ ~ clc~lletlts In the p~odiict~on atld

sy$tcm ('o~isolncl L I I - L I ~ I C ~ ; I ~ ~ V C I ilte asilgnerl all impoltult role to plolriote a

~ l l o l ~ g con\11111c1 ~p111lcc11o11 lllovcllielit, ape11 fioln plovldlng trade to suppott to

tlic pi~blic tl~\trlIxltlon system [ti Ihe collntly But 111 leal~ty these cooperatives

hnvc 11ot p c ~ l o l ~ n c t l ~ ~ ~ ~ l ~ ~ c s s ~ v e l y tlue to v a ~ ~ o u s wcnkncsses In the11 bllslness

Iplacllcc 'l'hcy i1:lvc fllllctl 111 lnlnllagltlg tllell ciilierit fi~llds piope~ly The11

I~qulrl~ty I ~ O S I ~ I O I I I S vcly wc;lI(, citlicl because tiley do not have the lequ~~et l

liltitls 01 111cy 1;111 lu I I I C ~ I I ; I ~ ~ I ~ I ~ I I I wlict~ tliey liavefilnds

~ ' ; I s ~ I , w111ch 1s tllc nlost I~quld cu~lent asset, 1s the lifeblood of an

~ I ~ I I I I ~ I O I I AII o~gilnlsatlon would keep 11s buslliess health as long as t11e1e 15 a

ficc flow ol' ci~sli Wl1c11 tliia ti1115, it falls slck Therefole, the management uC

cash 15 \ I I ~ I I ~ I I I ~ ~ ~ ~ ~ ~ ~ [ i o ~ l a ~ i t Unless cash resources ale prope11y used arid

c b ~ ~ n ~ ~ c l c t l illto plotluctlvc nlcns, the deslred lesults In profit ~naxlmrsat~on would

!lot malc~~al t sc

A b ~ ~ s ~ ~ i c s s concern sllould have suffic~ent cash balances to remaln 10 h e

~ l u s ~ ~ i e s s w o ~ l d and to meet its obllgahons ~roperly The success of cash

inana&cmcnt depetrtls on the stnlchtre of the org~nisation The fmmcid

executive plays 8 tleclstve role in the management of oflsh, and has to perform the

valious Ful~otions in the day-to-tl;iy mwagement colltr0l of cash' The sfmcture of

otgntllmtloll V>ltlc5 IrOlll otlc lltllt LO i l t l~ t l l~ l AS CO-Operahve supel.bnzaus, ae

p~ltely tlildltlt: LI)IILC1115, [[ICY II'LV(: 110 sepalilte orga~usatlon fol cash

~nanagcn~cllt, ~ l l l i l l h ~ ~ ~ L S I I I C \ S toanegel himself pe~ororms the duties alld

flinct~oni ol the iilld11~1:l~ CXCCllltv~ '11111s 811 tlie fin~nclal nctlvttie~ levo]Ye

810111111 llllll

111 I ~ I L I 11 1 5 , I I L ~ I I O I I Lo I I I I ~ ~ C tI1c op~lat~ol ls of n co-opelnttve hus~ness, as it

effictcncy of tlch~o15 111 o ~ a k ~ n g pilymeots, size of lnveatoly, slze of sales tn

telalion to lixcil ,ts$cls illlll 50 011 1 o cetlillll exteet, by cornpat~~ig tlte h~sto~lcal

I C C U I ( I \ 01 011c C O - O I ) C I B I I V ~ lltiit w~lll Illo~e of anothel, ant1 also its owti iecotds

ove~ 11 I ~ C I I I K I rll IIIIIC, 61 L O - ~ P C I B ~ I V C 11ii1t CBEI a~i lve nt an ~ d e a of tts ~ U S I I I ~ S S

o p c ~ n t l o ~ ~ s I ) ~ l l c t c ~ i t latlos can lie ~ ~ l c u l a t e d and nntilysed to assess the use of

caih f o ~ rlic bu51ncss upctilrlons I ; ~ r ~ a ~ ~ c t a l lut~os l ~ k e cash to cullent assets, cusll

lo cutlcnt l ~ , ~ b ~ l ~ t t c s , c s d ~ lo total oscets n~ld casl~ tultiover of bustness, uluts cat1

be lnatle to 115ec.i~ ~l lcu ctfic~c~icy in the lnnllhgelnellt of cash Any slgnlficn~~t

vallatlon 111 LIICSC I ~ L I O S 111ay be v~ewetl as clue to a lack of propel rnnnagc~nellt af

cnsl~ balacwcs 'I'hc co-opc~atlve super bazoals of Andun Pmdes11 have been

viewed from thls po~n t o f view 111 the presellt study.

The stzc of cash balances 111 the super bnzaals of Matnatha, Bala~1, Kadhin,

h a n t a p a r stid f+oddnhl~ Supel Baanors In Raynlaseema, wiuch 1s a p a of the

&lea, 1s seem slgruficu~tly fluch~als dur~ng the penod of shldy. In the Bal&jl

Super Bnzaa~ 8 large amoullt of cash balance (4 04 lnkhs) remmed, wluch was

mucli l a~gc i Lllili~ tllc b ~ i l a ~ i ~ c + in (lie othei fom co.operatlves ~h~ cash

ba lan~c lcgl\tclctl 111 tllc Mao~atlia Supel Ri~znal was Rs 0 65 lalths, tile

Kntlhi~~ Srl[)cl I{n/;l;il 0 64 lakiis, in tlie Anantapur Sllper Bazaar was R~ 1 35

lakl~? iii~tl III 1l1c I'lotltlnlu~ Supel Raz;~ai was Rs 2 43 18Hls while the co.

erficiciit 01 vtilliln~c ~lltlic~ite\ inLonriitellcy in the malntenaice of casll balallces

atnong tllc I tinit$, tlic ~oi i \ol ld~ted CO-efficleiit of V ~ I I ~ I I O I I

c o l ~ s ~ s t c ~ ~ c y (0 41) III tlic illallagelneilt of cash

'l'lic S I / C 01 c;lil~ bala~ice:, II I lhe siiper bazaars of tile Coastal 1eg;on

fl~~ccn;~lctl ~nodc~atc ly tluiiiig tlic slutly pe~lod The Visakl~apalnam Supel Bazaa~

l~atl t l ~ c I,lil:csL 'iniount ot ~IVeliIge ~ t ~ s h balance (Rs I l 20laklis) The Kalpavalli

icco~rlctl 1111 ;iveiiigc li:~l;~i~cc ot Rs I IXlakhs, Stikekulam lecolded Rs 1 2lla!&s,

tllc VSI' Rs 5 L)ll;lklis, V~s;~kl~al~nt i~am Rs 11 20 Iaklis, aiid Oligole recorded a

1ial;111cc o i Ks 2 31 l a l t l ~ ~ 'The s u e of ave~age cash balances shows vatlances 111

ioaintaisocc ol'casli in thcse salnlile supei bazaa~s of the Constal ~ e g ~ o n The co-

cfficlelit of vailnncc nltllcatcs consistency in tile Kalpavalli Super Bazaai (0 34)

In the inillntcmincc of cnsh balances bettel than the otl~er supcl bazaals

rile size of cast1 bdances 111 the selected supet bazaars of Telalgana

var~ed sl~glltly during the study pelloci In Katnadhenu the aYera8e size of cflsl~

was Rs 0.861akhs, 111 Anjeni Rs.1 39lakhs, m Neelaglrl Rs 0 891dls,

Kalpnlilthn Rs, 2 57 and la Adalsha it was RS 0.6llakhs The covefficle1lt

v ;u~a~ice tndioates l~igll in~oiisistency ln die Kmadienu SnPei Bazaal 'Id

conclrtcncy 111 lhc i l l ; l i ~ ~ l c ~ ~ ; t ~ ~ c c ol cc~sh balances In tile ~ ~ [ ~ ~ l ~ t h ~ supel B~~~~~

(0 27)

' 1 1 1 ~ c:l\ll I Ll l l lC l l t IlF5CtS latlo In the sample supel bazaals of

Rayal:~~ccrn~l ~ i l t ~ l ~ ; ~ l c ~ n I I I C ~ I I I V , I I U C I0 59 per cent [t observed that all he

sopci l)i~/;IiIl~ IliItI ltllc C;I \~I l ) a l ; l ~ i ~ e ~ III Illell bilslness operations TIle average

llic fatlo ~ e g l \ l c ~ c t l 111 MillllillIld WiIT 2 78 pet cent, 111 B a l ~ j ~ 13 05 pel cent,

Katll1111 17 43 p c ~ ccnl, la Aaantliapul 3 70 pet cent, and in Ploddab1 it wns

15 98 11" cud 1311t lllc vtllue or co-cffic~ent of vanatton was least (0 5 8 ) in the

A I ~ ~ I I ~ ~ ~ I I I S I I ~ C I I(a/ael, w l l ~ c l ~ illtl~cates conl~ol over cash bnlences

I hc ~ d ' i h 10 C I I I I C I I L a\sct\ lloslt~on in the snmple supel bazaais in the

CoilsL;~I I C ~ I ~ I I ~ c v c , ~ l i i l ~ i i t lllc lucati value l~nged fiom 3 81 pel cent to 9 54 pel

cell1 W I I I I ell i ivc~i~ge of 6 XO pcl ccllt Among the md~vtdunl units, I<alpavnlll

leco~tlutl it11 ;rvclagc [atlo of 5 20 11c1 cent, Sl~kakslam 7 I9 per cent, (he VSP

8 12 1x1 CCIII V~s;~l,lrapatnnm 7 67 ~ I C I cent, I U I ~ Ongole reg~steted 5 63 pel cent

Rut tile v;lIuc of co-crfic~cnt of vai~iit~oil was least (0 32) in the Knlpavnll~ Super

Raznar, wli~ch ~ ~ i d ~ c a t e s tllc en te~pl l~e ' s control over cash balances

' I ' I I ~ cash to cllrtent asset$ posltlon III the smple super bazntu8 of

Telaegii~in ~cvenls that the iuean value ranged from 8.55 per cent to 16 63 Per

cent wtll it11 averwge of 12 19 pel celit The avemge ratio recorded In K m d h e n u

was 5 19 per cent, m hnjani 8 77 per cent, in nee la^ 679 pel cents

Kalpalatlia 5 62 pel ccllf and 111 Adarsha 34 56 per cent during the s l u r i~ period

~h~ co-cl l i~ lc l \ t t l f V i l l ~ t I t l t l ~ l was lowest ((1 15) In the Kalpnlatha Supel B~~~~

wlllcll i ~ ~ t l ~ c , ~ l e ~ collrlstcllcy Ill tllc LOI~IIO[ ofcasl~ balanceS

III l< . i y~~ l~ l \~c i l l i l tllc aveiagc c.1i11 to tot111 assets labos of the ~lalllapm

~ u p c ~ Il.~/,r;lr ( 1 (15 IICI LCIIO c l l l ~ l llle Mrunalha S I I ~ ~ ~ I Bazaar (1 97 pel cent) wele

less t11~111 l1111it: (11 IIIC lllll~l 5II1lCI ~ l c l / i ~ i l l ~ 111 the otlle~ thee slipel bazaals tile

~ntros rvcic 7 '10 IICI LL.III. 11) 5 IJCI cc11t i111d 10 58 llcr cent in tlle Btli~Jl, 1 i ~ d i ~ ~ ~ ~

al l t l ~~Io~II~:~IIII S l l l l ~ l Iiil/iiill': ICSIICC~IVCIY It I S filltl~ei cvident that legaldlng the

COIISI~ICIILY 01 L.ISII llillilli~~ i l~ ld l l lg In lelatiori to total assets, tile A o a l ~ t ~ ~ ) ~

Sul)c~ I~~I/,I:II (11 55) I111(1 J:IC:IICI COIISI~~CIICY than tl~c clthets In the legloll

111 l l lc ~(lil'lllll ICgIOII, Lllc tIVelIlgl: CHS~L to total assets ratla was less in the

IC:IIP,IV,IIII SII~ICI I~:I/:IIII ( I 611 IICI ccr~t), whrcli itid~~ates effectwe ulilisritron o f

C I S I I L N C X ~ LOIIIC 111 LIIII~'I l l le Ongole Supei Bazaa~ (4 08 pel cent), the

VI~,I~~I,I~),IIII~IIII SIIIICI liillilr~~ (4 31 1x1 cent), Si~kakulilrn Supel Bazaal (5 56 pn

ccot), end r11c VSI1 Sopel Ib,i/;i;it (6 21 pet cent) Regaid~ng the cons~stei~cy of

c,lsli II:I~IIIIC~ ho ld~~ ig 111 ~e l i i l lo l~ to tolal assets, the Kalpavalll Supel Bazan~

(0 21) hat1 fi~v;~iet collalstctlcy Illail ihc otl~ei super bazaats

111 I clnnjiail;~, tcgartl~ng the avelage ens11 to total assets ratio of the sample

supci hs~aars Kii~nnrllicnu hnd n lesser latlo with 3 37 P cent than the otllels

I<eg;ll~[lllN tile conslstency of iioldil~g cash balance in relation to total assets,

Kalpnlntllo lla(l consistency o f 0 20 wlirle Katmdhenu ]lad an lnconslstency

of1 3 1

In all tllc \:1111llle UIl l tS 01 lllc Coastal legloll the pelcentage of cash to

~utlcti! I I~II) I I :~ICS st[:i~lli~i~lllly t l ~ l ~ t l l i ~ l ~ d TIIC iivelnge ratio valtetl between 5 56

pet L C I I ~ ~ I I I ( I I? 51 C C ~ I ~ tvltll a conslstellcy o r 0 2 9 l~td~v~doally I<nlpavall~

~c~c l~ t l e t l 5 1 5 [ICI Lcnl, S t ~ I ( i ~ h t ~ l i t t ~ ~ l l O l pel ccol, tllc VSP 11 36 pel cent,

Vtc:1ltlral1:1111,11n 0 5 0 pct cenl, ilntl 011gole icco~tlcd 12 46 per cent The co-

cffic~ellt ol v i ~ r i i ~ l ~ o ~ ~ dlows tl~;it Ki1l1mvnlli mnlnt81neil co~ts~ste~ioy 111 the othel.

S!I~IU I I I I ~ ~ I ~ I I S IIOWCVCI 1 1 1 ~ C O - C ~ ~ ~ C I C I I ~ O ~ V ~ I I B ~ I O I I valttes wete as Iitgll as 0 86 In

S~ ik i tku l i~~~l , il 61 ill llle VSI', 0 51 111 V~snkllap~t~la~n, and 0 49 111 0:lgoIe These

petcc11t;tgc~ sllow I ~ S I C I C~II IPISICIICY

I:, Iclcngimn 111c 11ctcc:ltcge of cash to cunent i~abtl~iles ltnd wlda

f l ~ ~ c t u a t i o ~ ~ s 111 lllc r \ d n ~ s l ~ a natl the Neelnglrt Super B a a a s l%e nvelage ratlo

ataotig Ilslu vocIed betwcc~l 3075 per ce11t and 331 15 per cent with a low

collslsiency of 1.08.

Ful[hcr tllc coefficiellt of variat~on regatdlflg cash to cwellt )~~bl]ll les

iatlo, Kalpale(hn (0 16) ll]d~cnted consistency lrnpiyillg that tl1e super bazaiU'had

nn cffect1ve colltro] over ~ t s cnsh and current Labditles. On the ConUaT m lhe

OIIICI \111icl l r ; l / ~ , l l \ 1 1 1 ~ LO-~~~~LICIII o f V~II~CI~IO~I viill~e was as hlg6 as 123 ," the

kiolleilllcllil ~ i l l d Ill? A(lrllgjld SUIICI ll:l/:14l'i, 0 90 111 Neclaglrl, 0 54 ln

AII~~III I c ' ~ L ( I I I Z I \ I C I I L Y \VII\ II(IIICC~ Ill tlicse supei irazaals 111 exelclslng

c r r ~ ~ ~ ~ ~ ~ ~ ( ~ t n l ( ~ l ov t :~ l l l c l l I~'IIICLIIVC LII~II [II~SIIIO~IS

I<C~!.IIIIIIII! IIIC LII~I IIIII~OVCI ICIIIU orilie wlle1 bazaa~s of Rayalaseema, all

lllc \ ; i l~ l l~ lc illill'r HCIICI~IC~ I~IKIICI VI~~LIIIIU ~ f b t l l ~ s w l t l ~ lessel casll balances all([

Ir;ld (1 LLIIIZI\L~IIL~ 111 (1 54 OII tln livclsgc (l~ll~ll: tlle study period Mamatliahad a

vcly lllj!li CIV~I . I~C ~ d \ I l L L I I I I ~ V ~ I 1il110 (303 10 Illiles) a~ld P~oddaim hnd oiily a

Iovv l:lllo ill ,I2 3 0 l l I l l C S

avclagc t l u ~ ~ n f i tllc slrldy I~CIIII~ S~~kakulem had a lughel ilverage casll hrl:lover

I;lllo ( 1 X X I I 1111ics) nlitl tile V~sakhi~pi~tnam Supel Bazaar had only n ~nnove i of

83 5111111c\

'I lit ~c l ;~ t lon t l l~p l~c twcc~ l cash and sales of the sample supel bnznnts 111

7'clnt1g;ln;i icvct~ls ( l~al allliost all tile sample umts generated hrghet volume of

sales w ~ l h lcsacr casll bnlarlces The Adnshn Super Bazaar, howeve1 had a

Co~~s~stcncy 011 all nvelsge of 0.49. Kalnodhenu had the h~ghest average casll

t l l l i love~ lntlrl (207.34 times) and Adarshs had tlie lowest (16.01 tlmes) Alld

I(8lpaltithn llad better co~lsistency m respect of effective Uollsatlon of ash

lesolr~cc ill I~JJIIS orsales than the otl~er sa~nple units

In I<,~y.il,irccli~~i .ill lllc s ~ l i l ~ l i l c allpci ba~an~s ieg]stered a mixed

tiaid In s.iic\ ant1 L i l 4 l l>dlli~1~cs I IIC ~i\ill balances ~eco~t led posittve glowtll

late lrclwcull 2') l1)l]cl LC l l l ill 1 'J')l-')i illid 153 10 11e1 cell[ clullng 1997.98 over

llie IIIWYIII\ yc,II l l~l l i l l l~~\ 111 L~ ls I l ( ~ ~ g i l l d l i l g the sales volu~ne of the supel

ba~;i;lis 111 tllc ICgI(III. I~IC W(I\VI~I IiilC vc l l l~d b13w~ell il positive late o f 33 56 per

ceill .~ i i t l .I ~ i cg~ i l l v c i a l l e 111 111 25 11ci LCI I~

l l l c c',lllllIltctl i l l i C i i l l c g l c s ~ l ~ l i l cq111Llloil shows no slgnllicii~~t effect of

sales t r l l L,I~II ~ ' i ~ 1 1 1 1 I/IC IC~IIIL (11 I'-V~I~UC, i t IS foeid flint 21 05 pel cent of

vi111iitit111 III ~ i ~ s l ~ II~IIBIILC\ I\ C\~II~II~IC~ l)y tile sales volume d ~ l ~ ~ n g the pellod of

,tilily

I l ~ c ji i lcr iilltl L~I\II IIII~~IIILCI oI' ~IIC SBII~~I~C SII~CI bmaars of h e Coastal

~cg~orr iel:ialc~ctl i~ 1111xct1 t~ct l t l t r l 110111 posit~vc iltld llegatlvc g~owths The cash

b;ll;~n~ci t lc~ l inor l clvc~ l l ~ c IIICVIII~I:. yeiil's bnlaaces, 19 14 per cellt in 1992-93,

51 94 11ci c c n ~ 111 1001-91, 3 0 51 pel cc~ i t in 1995-96,3446 per cent in 1997-98,

i111t1 43 84 pci cent in 190'1-2000 13ut the supel bazaars iegzstered a positive

g i t ~ w l l ~ 111lc o l b!, 06 11~1 ccnl in 1994.95. 155 52 per cent m 1996-97, 75 94 pel

cellt III 1908-99 i i i l t l 30 62 pcl cell1 i n 2000.01 Tlielr sales volume recoldcd a

IIOSI~IVC g ~ o w t l i I:I~C. ,Ille glow111 late in sales volu~ne v a ~ ~ e d betweell 1 58 per

cent ant1 I 9 1') per cclit,

F l o ~ i i h e I- vnfuc it 1s ~IIOWII that the ~elatiollslup between sales md

casl~ ~BIIIIICCS wfis very weak, ?he estimated llnear regression equahon i l l so

iod~ca(es thilt ulcle wns 110 slgnificailt effect o f the sales 011 the cash balances in

tile 1cg1o11 i ' l o l n l f l c l c ~ l l f ~ o f 1'-vilfuc, ~t is fount1 tliat tile 11 80 per cent of

vali;ltloil III Ihc LII\~I II~I~~IIILC~ 19 ~ ~ p l ~ l i i l e d by the sales

IIIC i.ilc9 ~111 i l LII\~I ~~I I I I ILC~ o f tlle sample sllper bazaars of Tc!allgana

i l low 11oll1 ~ i o ~ i l l v c #mil r~cg t~ t i vc g iow t l~s Tile g i o w l l ~ vatled f i o~n a posrtlve

1i11e o f 07 06 lpcl ~ c l l l i f i l l l l lg 1095-06 a llcglltrve ratC of 36 94 pel ce~ l t dullng

O X i l ~ c w l c \ v o l ~ i ~ ~ r c iil t11c \rlinl]le super bazail~s va~let l betweell a

pos~trvc i , ~ t c (11 26 75 pcr ceril i r i 1912-93 to a negalrve rflte of 10 95 pcr cerit 111

1990-2000 I hc I- v'liuc i i i i l~cwle i I l lat tile re la l i o~~sh~p behveel~ tllc sales ilnd

caslr 11al:in~ci was v c ~ y wc~llc A i l i l IIOIII tlic t-vi1111e i t IS ~IIOWII Illat tlieie was no

\ ~ g r i l l i ~ : ~ l ~ l IC~IIII~III~III~I OCLWCCII llre sales atid casli balnnces in the legloll The

expl;rii~crl lry l l l c salcs vo lu l l~e dnlrrig tlre pclsod

111 tile coi l lcx l of global colnpetltlve buslness rnll~eo, ieceivables

m ; i ~ i ; i g c ~ t ~ c ~ ~ t 11ilr b c ~ i ~ ~ n e no ~i lcvi tabie fentu~e of most rnrlusa~nl uluts as they rue

a t l o l~ t r i ~g c ~ c t l ~ t r a l o as cliic ol Lhe ~ n o s l IIII~IOI~~II! sales devlses Rece~~ables are

ill1 I l l l l l o ~ l a ~ ~ c LOIII~~IICII~ ol' w o ~ k111g capilal, ncxt onIy to lilvesltones

111e iivclirgc $Ire of ~ecervables in the supel bazaars of Rayalseema v i u ~ e d

fiol l l Rs 5 02 liiklls lo Its.13 63Iakhs with a cons~steacy o f 0 28 i n the

l l lnl l l tena~lce o f rcccivablcs ?'he ave:agc slze registered was US 12 51 lakhs 111

Msmatlin, i t s 8 6s liikl,s u~ UaIaj1, Rs.0 86 Lakhs In Kadlllrs, Rs 21 86 lakbs m

Anantal,ut, and 8 76 Iak11s m Pmddahlr Regarding ConslstencY In ho1dln8

~ e o c ~ v a b l e q tllc Anantapv Supel Baznnr was more consistent than the othels

llhc tivciagc il/c of lccetvnblcs in the tive super bazaus the coastn]

legion v i ~ i ~ c t l l i ~ l l l 16 12 lnklis to Rs 30 57 IRkhs Regaldlng consistency m

il"ltlil~g llte I C L C I V ~ I ~ ~ ~ C S . (he V~silkllapah~atn Supel Bazau was mole cons~stent

tllilll lllc OI I ICIS

lilt ;~vci,igc 51/c of ~c~clvt ibles In the siipet bazaats of Telangana vatted

Sioln K\ X ' ) ' ) lC~hl~j 10 It1 15 hhlt~kl~r wltll all nvvclagc of Rs 12531akl1s Arnnllg

Ll~e ~ t ~ t l i v ~ ~ l ~ i i ~ l SIIIICI I ~ i i / i i n l ~ ~ the avelage slze of recervnbles was Rs 12 41 lnklls

111 K;r~n;till~cn~t, Ila H 65 lr~k1ls 111 Alllatt~, Rs 6 57 laklls 111 Neelag~l~, Rs 3 1 81 I n

I<alp:~lall~,~ 8rntl IRs 0 21 l;~klis I I I At la~?l~a. Regadtt~g cotis~stency i n holdlt~g the

i c ~ c ~ v ~ ~ h l c i . lllc K:tll)i~lolli;i Ss1)et Bazaai was Inole consistent, and Anjnnl,

K i t ~ ~ ~ ; ~ t l l i u ~ ~ r ~ . NCC~;I~:III :111tl Atlatsha Super Aazaais followed it 111 this ottlei

'I lic avcltigc dcl~lots ttr total assets latlo in h e supel biizaals of

Ray;tl;~scc~~ia v;~tlcti w11l1 bettc~ cotlslstellcy (CV of 0 11) In the ~i~vestrnent of

tlel1lo15 111 the lolrll t~?sets l ' l~e s h a ~ e of debtors m the total assets of [he supel

b;~zoais ol llic tcgloi~ 011 ;III incinge was as follows 38 51 per cellt 111 Mn~n~tlla,

11 67 pct c c t ~ l in Ih!>i]l, 15 21 pet cent m Kadhnt, 27 32 pel cent m h l a l t ~ p u ,

alltl 37 40 pel c e ~ ~ t la Prodda(111 111 respect of the coefficient of vnllance, but ffl

the Ktttlli l~~ Supet Bazaat all 1118 others had good control over the lnvestmellt of

debtots in the total assets

In the coastal region tlre rntlo of receivables to total assels m the sample

supet b a ~ n a t s voncd slightly. The average ~ n h v ~ d u a l unit ratio was regtstercd as

15 00 pel cent 111 Kt~lpavklllfi, 25.60 per cent in Srkah~lam, 12.10 per cent

VSI', 25 70 17cl ccll l 111 Vls:ikliapntnnrn and 50 00 pel cent Ill ollgole ~~~~~d~~~

coas~stcli~Y, l l lc L ~ ~ l l i ~ ~ C l l t O f vnllallce sllows that all the supei baanls ille

cunslifcn~

111 I cl,lngllll~l, l l ic (1ebt010 to totnl ilssets valled a11 an average betweell

26 89 pul LCIII illld '11 8 5 IICI C C l l l wltll tnole collslstency dut~ng the pei~od of

5tll(ly I,IIIIII lllu ~ o c l l i ~ ~ c ~ i t of vi~tlatlce i t 1s clea~ tlliit the Kalpalatha n11d An,a~\l

SUOCI II;I/II~I( )VCIC IIIOIC COIISISLCIII t l l a ~ ~ the othets

l l ~ c ~ i l l ~ o o l tlcl~lois lo ctulenl assets a i ~ ~ o r ~ g the srlpcl bazan~s of

K i~y t~ l i ~sccn i~~ wtli l\\ oil l 1111 i111 ~velage to 43 37 pet ccnt F1or11 t l ~e col~siste~~cy

11u1111 01 vlcw ,111 llic uiiiI# lhntl I l ie l~ debto~s t~ i ide~ couhol Howevei, the

AI~IIIIIJ~IIII SIIJICI I(II/II~II l l i ~d 111oie co~~s~sbncy tl ln~i the otl~ets, w111le the l<arlllu~

SII~ICI (311/iliii liild LO III~C IIICBSLIICS icgnld i~~g the quatlhi~n of invest~nent In

rlebto~s 111 IIIIIII ovc 1111: ~(lllslbtCI1~y

I Ilc i ;~ i io 111 tlcb~ais Lo cu~ient nssets III the s11pe1 bazaars o f the Coastal

1e&to11 LVOI kb 0111 10 42 31 pet ccnt on nn avetnge 'The lltd~v~dual avelage ~a t ln

WiIS lcco~tled >IS 43 80 per ccm~t 111 Knlpavalll, 35 16 per cent in Sl~knkuinm, I b 48

p c ~ ccllt $11 VSI', 45 73 ]pel cent in V~sakl~apattlam ;ill(! 6928 per cult In Ongole.

The cor~stalc~icy shows t l~at except the VSP Bazaiu nll the otllel umts had wtder

contrill the rccclvables i n respect of current wets.

Tile iavern&e tatto of debtors to cunent assets UI the sample units uf the

Coastal legton vnned between 35 21 tunes and 45 75 times FuIdler, legardlng

tllc conskstenoy debtols' it~vestment m c~nrent assets Kalpalahfl was Inore

111 l l lu $II~ICI l l i l / l l i l 1 5 01 i(i~y,lla?eelna, tile debtors t11111ovel

\larv\ ~II;II ~ l l c rlcli lol\ j:c~lctttlcd dll l l l lg l h ~ SLMIY peuod snles with an aveingc of

I0 87 l i inc\ I ~ c ~ ~ ~ l t l l l l s ~ O l l ~ l t l C I l ~ Y 01 ~Ichi017 111 tellns of sales, the Protldatut

Supci i4ir/i1i11 \VII\ IIIOIC LOIIYIS~CII( t1li111 the otlle~ snmplc llnlts

111 t l ~ c ( ' o i ~< t~ l l ic[:loll fhc iivcl;~gc tlcbtols lulnove~ rntlo ~allged between

IS S X IIIII~\ ,intl 17 110 t1111cr l'lle average worketl oul to 2208 tunes In

gci lc~,i t l i~g ti1lc5 I I ~ 1l1c tlcllloir, lllc S~ihi~kulam wits male conslstellt tl1n11 thee

oillci < t ~ ~ ~ ~ ~ i I v IIIII~S 111 llic 11:1:1oii IIIC Kal[ l i~vi l l l~ S11lie1 Bazaa~ llowevet was

I I I C ~ I I I ~ I ~ I C I I I

111 IC~,III[:BIIII 111~: ilvc~ilgc i lcbt~ ls ' IUIIIOVCI ratlo among the sample units

Lllcqc I~IICIIIIIIC~~ IICIW~~II 7 OX IIIIIC? illld 47 37 tlmes, a11d the avelaged walked

I I I 1 I C 'I'IIc Adi~~sl l i i S I I~~ I B~IZIIIII was tncot~s~stel~t 111 tllis lespect

(C:V O 87) Atnl)lly lllc ol l le~ fool, the Kalpalatha Supel Bnznnr was Inole

COIISIS~CIII 1lli111 ~IIC OIIICIS It IS clcal l l ~ n l the Adusha Super B ~ ~ a a l will hnve to

cxelclsc t1811t colltlol 111 LIIC innlsteonllce o f debto~s to Improve ~ t s cons~stency

'rllc tlclltors find sales volume of the sample u~uts In Rayalaseema Wall

lccordetl n gtowitlg h.entl tlurmg thc pet~od of study excc~~t durlng two Yeas

1995-96 tint1 199(r47, In tllese two yeus the balances of debtors decreased

Col~sitlel;iI~ly the previous year's balances Tile sales volume of tile super

bs7,ilnt\ v,tllctl hi1111 lln\fllvc 1;llc O l 37 56 11el Cctlt Ill 1994-95 to altegntlve rate

of 16 25 lpcl ~ c l l r Ill I1)')X-')" ill^ l - ~ i l ~ l l e leveal~ a shong posltlve lelatlmlshlp

betweun (Ielllolll llll(1 +IIICI It 15 CII~O L ~ C ~ I I tllat there wal 8 srgnlficmi effect of

I I Ill I 1 Ill? V ~ l l t c l l l ~ ~ t l 111 79 87 pet cerlt tn the

eup l r i~~~c t l IIY Ill? r:lii'\ 111s LOIIC~IIIIIII~IIIL: I-villrie IT 5364, and i t ts lljg]lly

$ ~ g ~ r i t i ~ , ~ t r l ill I 11e1 LCIII lcvcl

1110 5,1le\ t~ntl i l c l ~ l (~ t \ ' vul~rr~rc III the rarliple liti~ts of the Coastal leglon

lecortlctl l~o l l ! [ ~ { ~ \ t l l v c ,III~ IIC!:IILIVC jilowtll rates The balances o f debto~s varred

fiort~ l<h XI) (11 li1ld15 Io 152 K 5 lc~ l~hs, a~ttl tlie e~owth rate va~tetl between a

I IC~ I I~ IV~ X *I l11c1 Lcni CIIIII l i o \ ~ l ~ v e 01 11 10 p c ~ cent The sales volutne 111 ihc

IIIIIIS ICCOI~I~II i t I~O'II~IVC !:III\VIII idle 'I'lie tln~~ual gtowtll late 111 sales volutlle

t1t1101ig 1llct11 v i~~ r i - t l 11clwec11 I 58 1pc1 cent allti 19 I9 pel cent 'rheie was a

s l ~ o t ~ g 11i1sr11w: IC~IILIIIII~~II~I bclwcetl tlte tlebtors and sales in the supet bazaats

'lhc r2-v,rluc \IIII\V\ t1t:11 llrc snlc.: cxjl lall~ the vatliition of 77 77 per cent m

tlcblots 11 15 f i ~ t ~ r ~ t l tIiii( ~IIIC t l~t i t (II'CIIRII~~ III snles ~esulted i n 0 06 amount of

chsl~gc III tlcblots 5 201 1s lllc cir~ tcy~ol ld~ng t-velue, wh~ch IS 111ghly slgalfic~at

at I 11ct CCII~ lcvcl

I'llc I~I~~IIIICC~ ol' llebto~s 111 l'elangarra supel bazaars fluctuated mall~edly

[l~tltlg ll lc pclltrtl '1.h~ volume of debtors vatled from Rs 44 96 lnkhs In 1991-92

to Its 78 3 1 lnkhs tlulltlg 1999.2000 The sales vollllne varred between Rs 213 86

lakl~s otld ~ s , i 1 8 2 67 lilklls AI,~ tile g~owth late in the sales volume ranged konl

n negative of 10 9s per cetlt to a poslt~ve rate of 26 75 pel cent The i-value

S~Iows CIC,IIIY tll<it ~ ~ I : ~ t ~ ( ~ l i l l i p I I C ~ W C C I I tlebtols nr~d sales thouglj posltlve

latl~cr wcak Ihc le\llll 111 I ' - ~ , I ~ u c SIIOWS that the sales volulne explains the

38 52 p c ~ L C I I ~ of ViI l lc l t lOl l 111 tIl:1)tlll\ I'he glvcll t.va111e (2 239) shows tllat tllere

1% 110 i i g i ~ i l i ~ i i i ~ t IlllllilCt (11 Liie uillc\ 011 lllc bnlallces of debto~s duril~g tile pellod

of tile \il~tly 5 pci L C I I ~ I C V C ~ 01 ~ I ~ I ~ I ~ ~ C : I I I C C

~11vellI~li y WIIILII 101 111s 11 ~ l lb~ l l l l l t l~ l~ 1lOltlOll ofclll~ent assets, accounts for

a p l n o ~ ~ ~ m ~ c l y 5 0 to 60 11ci ccnL ol' LI I I ICI I~ assets in [nost bus~~iess enteqlllses

P I I I ~ ~ I I ~ inilnitgclnciil of illveiltoly 1 9 lllc yilnlst~ck of effic~ency III woik~ng

cap~till ili;llI;tjiclnerll lillicicnt l ~ l i i i ~ ~ ~ g e ~ n e ~ ~ t of lllvelltory IS not an eary task and

tlc~iinntl! I);IIIILIII:II cilie of ~ I I C lillil~~clal Ileait11 oat1 earlling capacity of the

C I I ~ C I I J I ISC II:I$ 11) be i t~~l)~nvct l

'I'l~c rl/c ol tllvei1to1y in tllc sclected super bazaa~s of Rayaiaseema dm~ng

tile pci~otl t r f ' ~ t ~ ~ t i y got illole ~II;III tloobled, Ao~n Rs6391akhs a 1991-97. to

Rs I5 07lakl1s 111 2000-01 i<cgrittl~ng the ilveinge investments in l i ~ v e ~ ~ t o ~ y ,

Mi~tn~itbi~ ~cgi'itelcd KS l l 07 i;tkl~s, Hiilaji Rs 22 95 Ioklls, Kadhli Rs 2 13 lakhs,

~ l l ~ l l ~ i l ~ ~ l l l I7 26 I R ~ ~ I F illid I'l(l(ldilti11. RS 3 53 hkhs

'The co-cffic~cut of viilratlorl sliows that the Kadh~n nr~d Annntnpur super

bazaass wcle cor~slstet~t (0 20) 111 m a l ~ l i a ~ n l ~ y the Investment In mvcntones, but

the Proddat~~i Sul~cr Baznar was ~ i~co~ls~s ten t (0.54).

The avernge size of inventory in the selected super bazaars of die Coastal

legLon vr111ed only lnorlelate]y between Rs.22.73 lakhs and Rs.31.88 Iaklls, ~ l d l

an aveioge of ~s 28 62 ]&ha Tl~eir consolidated of 1nventorY shows

~oi~yt'ltCtICy 111 llliltlilji~llg l l lC I I IVCll lOl lCF, ~ l l d t h ~ CV stood at 0 I1 dullng the

~hltly I ~ ~ ~ o t I 'Ilic ~ o - c l f i c ~ ~ t l t 01 v a ~ l i ~ t ~ ~ t l I I I lllatvagtng tnvestlnent in tnverltnrles

~lltlicatci IIlzlL lllc V~i:lkIl:lpillo;lt~~ S U ~ C I Bazaat was conststent, and the other

S I I ~ I C I I I~I , I ; I IS (Sl~k:lkuldlll. VSI) i i ~ ~ ( l 1<alapavdll1, and Otlgole) following 11 111

l/ld1 O l ( l ~ 1

In lclcr~j:.~ti:~ Illc t~vct:~gc ii/c ol i t~vc l~ lo~ ic? 111 tlte sample super bazaals t:ingetl

fiom It9 'l 42 l:tkh< lo Its 8 01 iilldls, lllei~ nvetage stutds at l<s 5 33 lakils They

w c ~ c L ~ I I I C I \ I C I I ~ ( ( 'V ~too t l ill 0 24) 111 I ~ I ~ I I I ~ I ~ I I I ~ IIivcntoltes. The co-efficient of

vaii:lltoll I I I ~ I I C ~ L I I I I ~ l l~e N c c l ~ i ~ i ~ t S u p c ~ I3axaat lo bc more consistent (0 33) thnti

I<cj;,~~tI~lil; o l invc1111111c\ lo lolal asset\ the selected umts of Rayiliaseema

~ I I I I I I I ~ llle slttdy pcilotl vnrlctl liotn 20 94 pcr cent to 31 86 per cent The

ilVCl;lgC t;lllo t c#~s le~e t l 111 M:~I)I;I~~I:I was 31 99 per cent. In Balajt 39 84 pel cent,

In ICiltIIlitl 36 48 IICI C C I ~ ~ , III AIIIUI~III)UI 16 97 pel cent, a id 111 Proddatu~ 15 55

Ilcl cctlt Rcgartl~tlfi collslstelicy in ltlvestlnent the Baln~l Silper Bazaat

t ~ l ~ ~ ~ i t t n ~ n c ~ l ;I cotlsislc~~cy o r 0 10 111 pro poi trot^ to total assets In the othel supel

billnnts 111 (lie leg1011 the co-cfiicrellt of vat~atlon was tltgher.

It1 llle s;iinple ui~rts of tlie coastal legroll the average tatlo of Inventones to

total sssets varied from 25 91 per ceiit to 39 72 per cetlt. The nverage rnttus

registered were 17.61 per cellt m Kalapav~l l~, 4272 pel cent ln ~rtkakulatn, m

l l ~ e VSP 59 09 per cent, 25.03 per cent in Visakhapatnam, and 18 06 pel cent111

the Ongole Supw B;lznar h d the co-efficient of vannaon shows that the O W l e

Supu IHa/llal ll;ld Its lllvcsllllel~t 111 lllvclltoiles cons~sklltly (0 11) plopol.tlon

to total as?cl\ 1111d t l l ~ o l l l~ l l l l l l l F followed it - Kalpaval11 (0 LI), Vlsnlihapaham

(O 17)- S~~knkl l la ln (0 18) illld VSP (0 27), 111 thi~t oldel

111 1 clc1lg;lllcl lilt RVCIIIgC I11IIl) IllveIllOlieS to total assets of the

. ; I I~CI I I ,~ /~I , I I . ; va11ctl htt\vccn I8 73 pel cent alld 29 74 pel cellt w~th m~ avelagc

of 24 I ? 11cl ccllt ,lllll il LOllslStC111 L O - C ~ ~ ~ C I E I I L of VnllntlOll (0 16) 111 rnanagillg

~ a t i o 'I l1e11 nveliigc iallos wele - 14 95 p e ~ cent in Kmadlieau, 24 86 pcr cent

I I I AIIJIIIII S I I ~ C I I ~ ~ I / : I z I I , 35 09 ce1111llNeelng111, 12 01 pel cclrt lnK;llpalatl~a,

I I I I ~ 1 3 71 11c1 cent III AtldlsBn W I I ~ tegaltl to consistency in the latio 4tlarshn

Sulic~ I I I I I I I I I ~ I I I I I ~ I ~ I I COI IYISICI I~ IY (023) wll~le Kflmndi~e~~u tlld not

I I I ~ I I I I ~ : ~ I I ~ I I , 11s LII-CIITCICII~ ol 'vfl~~nt~nn stn~ldit~g a t0 56 [luiltlp the stti(Iy pellad

111 I<ay,~l;lrecl~ii~ I I I ZIII 111c five nape1 bazaars the ~nvenlosy const~(uted on

:~vcl;~gc 40 p c ~ ccl~t of ~ I I C I I curtent assets They all sliow conststwlcy 111

I I I ~ I I I ~ ~ I I I L : I ~ I C I I I ~ I ( I , whose cu-erfic~ca of vnriat~o~l stood at 0 10

A5 St11 tllc avctegcs oS latto, Mamatha ~eglste~ed 43 80 pol cc~it, Balali 65 19 per

cent, 1<11tllu11, 59 13, Anaotnpu~, 36 19 pel cent, nr~d P~oddatu~ 25 27 per cent,

1l1e11 avcrngc becilg l(j 04 pet cent rlullng the study Thus, the co-effic~ent of

Vnlliltloll m the latlo of ll1ve)itolies to cunellt assets was lowest m Ba111~1 atld,

Allflntapur, Kildhiri, h.f~natlla sad Prodtlatur units followcd it in that ordel In this

regru tl

In tllc Coastal legion the K~lpavalli, Snkaklllml and the VSP super

h n m a ~ s I ~ a d Inore than 50 per oent of their ourrent assets In mventol'Y, whvhlie the

V~sakl~np:ltna~~l ('15 39 llcl cent) :mtl 011gole Super Bazaals ]lad only half of it

(25 09 pel ccllt) J'hc co-etliclenl of varliit~oll of the ratlo shows conslstellcy

111 I I I ~ L I I ~ I ~ I I I ~ lllc IIlVC5t1II~ilL 111 IIIVClltOlles In plopo!lro~~ to cu l~e~l t assets On tJle

WIIOIC, ill1 lllc \a1111!1e ~ l t l l l % WCIC LOnFIstellt ~ U I I I I ~ lllc pet~od of stlldy

I Ilc 5alnple su11c1 b:~i.ail~s ~n 'lelnl~gama had atr aveiage 20 to 40 pel cent

ol I I I ~ ~ I I ~ O : I ~ \ 111 cullelit a w l 5 'V!e avelages of ]atlo were 27 26 per cellt 111

I<ami~dl~cl~u, 37 04 l!cl cenl 111 Alljanl, 45 32 In Neclagr~r, 17 87 pel cent m

ICall!nl;1111;1 dl111 5 1 4') p c ~ cc~il Atlil~rlla

I 11c A I I ~ ~ I I I I Supe~ B a ~ a n ~ wils inolc cot~s~stent a1 managlng tile latlo than

l l~c ol11c1 +u11c1 baraals i~ntl IIS co-etliclcnt of vatlatlon stood at 0 21

'171~ lnvclllrrly luillove~ r1llia of'tbe selectetl super bazaals ~n Rayalaseema

fl~icto~~lctl 1111 , ~ v e ~ n g c bclwecn 0 61 t~lnes and 14.63 tlmes, w ~ t h conslstetlcy m

thc 1al111 'l'llc ilvc~i~gc liltlo ol ~~id~vldua l supel bazaars registe~ed wns fbul~d to

hc 12 OX lllncr 111 Manlntha, I? 16 li111es III Bnlajl, 10 36 t ~ ~ n e s in Kadhirl, 1027

t1111es 111 Al~i~nlnl~or nlltl 14 49 tlrnes 111 Pioddatu~ And the Bala~r Supel Bazaa~

wos conslrlcnl in 111vei11o1.y tulllovel latlo bene~ than the otlre~s, aid its CV stood

al 0 10 It ~cvcnls cffic~ent management of mventory.

In Lllc Coastal regior~ the avelage inventory turnover ratlo 111 the sample

lltllts s l~g l~ t ly fluctuatetl bc&$een 10 31 ttme and 12 38 tlmes, wth consistency In

tatlo, and tile co-effieent of varlatrarl was 0.05. hdimdudly, tile average

ratlo in K:klpavnl]i was 8.80 times, rn Srikakulam 11 92 t~mes, in the VSP 11 09

tlrncs, 111 Vlsnkh:lpatrlanl 10.88 tunes and in Ongole 14 37 times dulmg h e shldy

liellod IIegc~ldlllg C O ~ I S I \ ~ C I ~ C ~ 111 inatntatn~ng tlie ratlo ~ ~ l ~ ~ ~ ~ l l ~ was

~ncoos~r lc~ l t (0 (12) dlld 01igoIc SUPCI Uazaa~ wus consistent, its co-efficlellt of

vat~il!~oii 5ldild1111: $11 0 14. illid ~ I l l ~ l llnlts followed it V ~ s a k h a ~ ~ ~ ~ i m (0 15). and

Sl~kilk~il:ti~i. I I I C VSI' I1 22) I I I 1111s 01(1ct

lltc , ~ v c i ~ u ~ c i~lvclilrrly ti~~iiovcl lnllo 111 tlle selected supei bazaars of

'I C ~ ~ I I I ~ ~ I I I ~ I I I U L I I I ~ I ~ C ~ I I I C ~ \ V C C I I I0 K4 tiliies ant1 11 04 tlmes wlth consistency ~n

tile I;IIIO, , I I I ~ lilt LO-cllicicnt oI"vi1lialioi1 stood at 0 17

I lie iivcl , ~ g c ititin ~ c g ~ $ t c ~ c t l by iiitlnidual sapel bazaars was16 10 tlmes in

1<~1iiii1dl1c1111, I 1 7 4 I I I I I C ~ 111 A I I I ~ I ~ I . I6 08 tllnes 111 Neelagiti, 1626 tlmes in

l i \ c ~ l l r i ~ l ~ ~ ~ l ~ ~ ~ . , I I I ~ 10 711 1 1 1 1 1 ~ 111 Atlat~ha tluilng the pel~od of stutiy The co-

cl l ic ic~~t t r l v i~~ii~t ioi l S I I O W S I I I C O I I S I S ~ ~ I ~ C ~ in Neelagill In maIiaglllg tliis iat~o

(0 70), llui lllc rilllc~? colisiatcllcy ml~~ntn~netl Kalpnlntha (0 19) followed by

ICa~ii;itll~cii~~, A I I ~ I J I I I ~ I (0 10) iilltl Atlillsl~n (0 32) 111 tlus orde~

I'luc ~tcilrl\ 111 ii~vcilto~y n1ut1 sales vollime in ~ l l the selected supei bazaais

of Ilt~yi~liieccitla ~ c ~ o i t l c t l a glowiilg [lent1 in all tlie years of ~l le study pe~iad

cxccl)t 1997-08 find 1098.9') l'llat tlieie was ~d le investment in inventoues ul

lilctn 1s showii by t l ~ c bnlances of inveiitoly wh~ch varled from Rs 31 93 lnkhs to

Its 75 34 lakllr .sllc giowtll late m the sales volume also varied, from a Poslkve

Glowif1 late of 33 56 per cellt to a iiegotive late of 16.25 percent

Thc correlrt~olu value sliows that there was a strong relation between

viilinbles v i z , inve~itory find sales in the selected super bazaars. The t-value

poq~l~vc ~.llc 01 I X 88 Ilci ~ C l l l r1111l il tlcgiltlve u f I l I4 per cent The lecotded

g~owtli 1;11c I I I lllc s'1lc5 vr!lulnc of lilt salnplc supel bazaars vmed between 158

pel cent I I I I ~ I 1') I'J ~ I C I L C I I ~

lllc t-v,~luc (4 (1x2) sllow; that ll~eie was a slgn~ficmt ~elat~ollsh~p

Ircl\vco~~ I I I V C I I ~ I I I ~ : I I I ~ ~ ~ I I I C S V O I I I I I I C nl 5 pel cent level of s~gnlficance 111 the

legloa Illc IIIIC,II ]cl:leaalil!l crllltillon lnaltes it clea~ that one mut change In

111 I C ~ I I I I ~ ~ I I I ~ I I I I C g10wt11 liltcs I I I ~nvento~y ant1 sales volume In all the

selc~tetl S ~ I ~ I C I II:I/:II~IF I U C O ~ ~ C ~ I gc~~elally a posltlve trend In aU the yeals of the

6latly c x ~ e p t 1997-08, 1998.09 ; I I I ~ 1999-2000 The balances of ulvetltoly vmed

ffoln Its 17 09 111kl1s to l<s10 17 li~khs and tile sales volume valed between

Rs 213 86 11ikl1~ arltl Rs 482 67 Irktls. TIlc cot~elatlo~l value reveals a weak

l c l n t ~ o ~ ~ s l ~ l p bctwccll tlic vaitoblcs vrz, lnve~ltory a11d sales. Tlle t-value (I 832)

of the lnventoly ;ll,tl sales sllows that thele was no slgnlficant ~elat~onship

between both llie varlnbfes at 5 per cent level of s~gruficaice m the leglon

Tuu~ilng to assessing tile overall workrng callltal management of tile super

bnznilrs 1s the t ]u~c lei3jolls of llle state, by means of different financing latlos

ilntl I I I I I ~ ~ ~ t l i l l ~ ~ l i , I t 15 fOllllil lllat tilt avelngc mvestment lnatle In culTel1t

;~\ict$ clr~tlng tllc 1)cllotl 01 ilutiy by tile selected super bmaa~s 111

v a ~ ~ c t l 1)ctwccll Ri 12 ?2 I ;~kl~i III IL~LlI-92 and Rs 31 03 lakhs 111 2000-01 ~h~

,Ivcl.lgc I I I V ~ ~ I I I I C I I ~ in Lllllelll iIS(et5 leglste~ed hy ~ n d ~ v ~ d u a l milts was in tills

I ~ I ~ ~ I I ~ I I I I < \ 21 20 Iclhlli In Mu~~liithzl. RS 35 64 lnklis 111 Balqi, Rs 3 63 lakhs in

I < I I ~ I I I I I I , I < \ '30 47 Ii1kl15 I I I AI IEI I I~I I~I~I I I I I I ~ I I4 72 I&hs 111 P10ddab1 The I<a(lh111

Su11c1 I~II/:I:II I I I I I I I I ~ B I I I C ~ I conslsleilcy IB the maltltenance of c~lnent assets bette~

111rlr1 llic c~tlicr 51i11cr bii/ildrh ~n lllc luglurl, 11s ctl-efficient of vauabon standing at

0 l(l

~ ~ L ; I ; I I ! , ol tllc I'o;lsi;ll I C ~ I ~ I I woi III tl115 I I I ~ I I I I ~ I Rs 24 80 lakhs in I<alpavalh,

Ila 16 67 lilkhs in S ~ ~ k n k ~ ~ l a ~ n , Rs 62 76 lakhs III the VSP, Rs 144 83 lnkhs in

V I S ; I ~ ~ ~ ; I ~ ; I L I I ; I I ~ , ,111~1 Rs 30 21 lakhs 111 Ongole

I < c ~ s ~ t l ~ l i g collslstcncy III milnuglng tile cunent assets V~sdthapatnatn

51111c1 I I ~ L ~ I I I I was ITIOIC CnIIsIstcIIi (co-efic~eilt of vatlance 0 09) than thc othc~s

I t wds lbllowctl by the Srrknkulnm, I<alpavf~IIi, Ongnlc, and VSP supei bazaas 111

l l~e 01 t l c ~

III 'I.cltu~goaa tI~e avclago c111le11t assets of the sample super bazaars vaned

fioln Rs 13 73 I ~ k h s in 1991-92 to Rs 23.27 laklls In 2000-01, the average belng

IL 19 1 I lrklls Ullit-wlse, on nvetage Karnadhenu registe~ed Rs. 18 40 lakhs,

Anlam Rs 11, 30 ]akIls, Neelagiri Rs. 13 60 lakhs, Kalpalatha Rs 45 54 lakhs,

and Adatslln ~ 8 , 173 lakhs, The ca-efficient of varifltlon shows thnt be

Ncciaglll Sullvl H:I/:I;I~ i'f;l< ctI~lS1~lc11t 111 collholl~ng the Investnlenr of

assel7

I t I\ 111111111 Illill l l l ~ CIIIICII~ 1 8 1 1 ~ OF III~IVI~U~.~ sllper beaars did not

tlle 5tiIlltlilltl liltlo o f 2 1. i l l l t l l l l C clvclagc lavcstments 111 curieilt assets the

rsr~lj)lr UJ)ICJ [)il/rlill\ WCIC 111 I!IC I~IIIOWIII~ ~i18111rer M R I ~ ~ ~ I R ] 87 tjjnes, ~~l~~~~

1 48 ~IIII~\. I< r~r l l i r~ r 1 7 7 tlrllc\, AI~~III~~I~LII 1 16 tlrncs, and Ptoddatu~ 1 22 trines

'rlrc co-clticlcnt of v:ilf:lllon lcvcal.; lllat the Baid~l and Proddatur Supel Baznars

I~?II~I~IIIIIC(~ L O I I ~ I ~ I C I I ~ ~

111 lllc ('o;r\lirI IC~~IOII solvei~cy Ilosltlon of all the sallrple supel bazaars

i v i r i L V C I I ~ cuccl)l l l ~ c Ongoic supcl bi~zi~iir As Lor tile nveiage latro Kalpnvall~

~cco~tlci l I OX Irii~cu, SII~~I~I~~~IIII I 42 tl i l ies, the VSP 1 37 ~IIII~S, Vlsakhapatnam

1 22 IIIII~$. :lrltl Orlgole rcglstcretl 2 25 times However in conhollmg the laho

KIIII)IIV:~III wi~s IIIOI~ coesrsrcnt illan l l le othw super baznars, its co-effic~ent of

villr;lLlIlll \l;llllllil~ ,I1 0 06

'I'llc cur~cnl tatlo of Lllc salnple urrits in Tela~gana regstered o fluctuahng

tlelltl , w111cl1 sllowq n pool solva~cy posltlar~ The avaage la110 legrsteled ln

Kamatlhclw was 1 46 tlmcn, 111 AIIJ~III 2 77 times, In Neelaglrl 2 84 times, m

Kalpalnthil I 25 lfrnes i ir l t l a 111gl1 latlo of 10 14 times In A h h a The

efficlct~t of vatln1jon shows ~nconsrslency in con@ollmg the raf~o In Adarshn

slipel baznsr, its co.eficient of vanonoe stantllng at 1.16 during the period of

sllldy

I h~ 11(11111I l i l l l i l 01 1 1 1 ~ ' S C I C L I C ~ 'illllCl ~ I B % ~ ~ I S 111 the Rayaiaseema leglo"

leco~tlcrl ;I i l u ~ l u a l l l l ~ llclltl thlo~lglli)ot the peilod or shldy The avelage latlas

I C C O I I I C ~ I I I I ~ I C S1111CI [)cllll015 lilll 11111\ Manlatlin I 0 0 tunes, Balil~l 0 5 0 tlInes

I w i 1 i 1 l l l l l 1 66 t ~ n 111 the Ananlaplit and ploddatul

$1117~1 I I . I / ~ I : ~ I ~ 1 1 1 ~ illlliid~ty 1)051t1~)11 Wrl5 \ve,ik dlld tile avelage railos recolded by

ll~clri w c ~ c 0 74 l l f l l c~ : I I I I ~ 0 'J I lil11c5 lesl~ectlvely However, the Manatlla Slipel

Baz;~;lr W ~ I S CUIISIS~CI I I 111 ~ i ~ l l t l ~ ~ l l l l g llle liltlo better thm the other supel bazaas

Ill lllc lCg1"ll

111c 11(l111il1ty 1ro\111~r11 of llie sillnple sllpel bazaals in the Constal legion

t lu~ i i~g I I I C pc~icltl irl stl~tly WIIS 1101 111) lo lilt ~t,2titlards The Ongole Snpel BUZ,R~I

lhirwcvc~ w.15 ;In c\ccplnrn, 115 irvc~dgc oI' IIIC ratlo ben~g 1 68 tllnes However,

K I I I I V I I I I wi~s CIIIISISICIII (CO-CII~CICIII of vurallce 008) III cniit~oll~ng the

Ilioi~gli 115 Ili1111i11ty ]IOSIII(III WIIS w ~ a k

I Ilc .ivc~;lge 1rqt11il 1111111 111 IIIC selected untts of Telangana shows a shollg

Ilqii~(l~ly I I O \ I ~ I ( I I I I I I~I IVI~U~IIY, Kaninrlllenu ~eco~derl an avelage laho of 106

tlmcs, AIIJ~~I I I 1 75 tlli~cs, Ncclng1111.62 tlmes, Kalpnlatl~al 03 tlmes, md

Atia~sli;~ 5 02 LIIIICS 'I'lic i \d~ lsha Super Bnzaar was lncons~stent (CVI 53) UI

co t~ t lo l l~~ig the intlo, but Kalpalatl~a was more co~~slste~lt than the othe1 sample

super bazni~rs in tile icyloi~

'rlic nvcraye ratio of currmlt asset to total assets ul the smple umts of

R~yrlascctna varied tl~~ougllout the per~od of study wltl~ more cons~stency m the

tatto I ~ l r l l - w t ~ c lllc Ilvcltlgc t ~ l l l o lcglclclcd w;la 6945 ltcl cent ~ ~ ~ ~ ~ f i ~ ,

61 112 11Ct ~ C t l l Ill I~clI1111, (2 20 IIPI LCttt I11 KR~IIIII, 45 93 ~ C I cent In ~ lan~p lv

allti 61 5 3 11" ~w"Lt1 ~ ' l (~ l~d l l ( t l l dlltttlg the ~ lc l lod of studY Tile co-efficlctlt of

valtettoll \III)W\ l l l i t l 1111: I{:l1:111 d11d I\III~I~~~I~)L~I Silpet Baznals mole coilslstent

ih;~tl l l ~ e othct\. ;~ t l t i tltclt ( ' V slootl .II O 00

I hc I~I~III o l , ivc l ,~~c LIIIICII~ cl\scts to totill assets In the selccled supet

btlzne~r o l tlie ('trltcl:~l lcgtotl villlerl Ltotn 51 93 per cent to 68 99 pel cent d u n g

1i1c study [)elloll '1 ilc t l l l l l ~ c 111 tllc llltllvltlunl lltilts ~ecotded a fluchlat~ng bend

'l'ltc ,IVCI;I~:~\ ICLOI(ICII 11y l l l ~ t l t :IIC $15 lollows 3432 pet cent 111 ICalpavalll,

73 KO pet ~ c t l l In Stlhd/~llkltll, 77115 [ICI cent 111 tile VSP, 55 08 pel ccnt m

Vlsnltlt:~l)alti~~tti 11ncl 72 1.1 pet ccnl ltr Ongole 'The co-effic~e~lt o f vnllet~or~ shows

cotts~slcn~y 111 II~~IIII~IIIIIIII~ LIIC III~III, l l ~ e Onpole super bazaat 1s collsistetlt (CV

0 03) ;rtttl i t t i lo l lo~vctl Iry K;tlp;~v:~llt (0 09), S~rkakulnm a11d Vtsnkhapnmam

(0 I?.), ;ttl(l VSI' (0 16)

'1 (11: 1iiL10s of i lvc~iigc clltletlt assets to total assets taho 111 the salnple super

bt~z;lnr~ n l 'I el~wgan;~ wclc 58 9') pei cent, 6651 pet cent, 77 45 pet cent, 67 13

pel ccnl nntl 65 61 per cent in KrunadCetiu, An~an~, Neel~gm, Kalpalatlla, and

Atlol.slln super bitzanrs tespect~vely durlng the shldy pellod Tlle co-effictent of

valtatlon rangeti betwcell o 03 alld 0 50 111 all the five super bazaa~s These

values reveal consistency In tile management of the tatto UI the units except 111

the Kn l~ lndhe l ,~ Sllper BnznU, whmh d ~ d ,lot collslstentl~ manage the ratlo, its

CV stsntllng O 50

I Ilc :iVcl:lge CIIIICIII assets lo fixed assets ratlo in the selected supel

l~a!;~;lls It1 I~~ly: l l : l~~cl l l i l V ~ I I C ~ fioln 3 60 tllileb to 523 tmies The un2 t .w~~~

;~vclngc l:lLloj l e~o l t l e t l wclC Ill Lhe following m m e r Marnatl~a 4 22 hmes,

rjel;ill 1 07 Iitnc<, klt(lli~ll 5 3 1 tlliie?, Allantaplit 6 69 t~lnes and Proddntur 2 77

[llncq I tic A~i . t~~ t i i [~ l i i SIII)CI Llaz~ial was colislstcnt 111 conboll111g the tiltlo benet

I lie c u ~ t c l l t osscl? to fixctl assets iatlo in the selected ur~its of Coastal

icgloli iccoltlctl a l luc lu ;~ t i~~g iiend lliiouglioi~t the petiotl of study The nveiage

latlo tccoltlctl I I I K i~ l l~avn l l~ w;~? 0 97 Limes, in Srikak~ilaln 6 95 tlmes, in the VSP

5 20 ilnic\. I I I V ~ \ , ~ l t l ~ , ~ p ; ~ l n ~ i ~ i i 1 49 LIIIICS atld 111 Ongole 3 16 times Fuitliel the

'IVCI~I[:C ~iiiio', I I I ~ I L ~ I I C Lliat S ~ i k ~ ~ k ~ i l a i n liatl sountl 11qu1dlty pos~t~on, followed 111

llils ieg;iitl by llic VSI1, 011yole. Vlsaltl~apntoam and l<alpa~all~ And also

S~~kal ,~i l ; l ln W;I\ co~~$i.; tei~t 111 c o n ~ o l l ~ ~ i g the i a t~o better than the othe~ sample

lIlllLS

I llc avelngc ctlllcnt assets to fixed assets raho UI the selected supei

baznai\ ol i cli~~lg:m;l vaiictl fioln 30 77 [lines 111 1993-94 to 47 22 tunes In 2000-

01 'Ilic ;Ivclaye lntlo lecoidcd was 196 93 tlmes in Adasha, 7 79 times m

b l p a l a t h ; ~ . (I 8 I tilncs in K~madheliu, 3.80 tiines 111 Neelagn~, and 2 17 times in

Anja~u duling thc stody. However, Neelagtn was oons~stent 111 mnnag~ng the

Inlio, followed by Kalpalatha, Adarslia, Anjani and Kamadllenu 111 that nrdel

Ailtl A(larslln ]la([ a liquidity posltlon better than that ofthe other supel kizflus

I'IIc ,~VclLlk!c Ll l l lC l i l fI\YCI? LLIIIIOVCI ratlo III the s;unple supel bazaius of

R~y;ll;i\CClll~l v:lllcll iloln 4 70 tlrnes to 5 83 hlnes a11t1 thne was a consistency

tile avctcigc tdllcr l l l l l ln~ llle rtlldy llellod The unit-wlse stutly leve~led that the

avcl;igc t ;~tto 111 M , I I I I C \ ~ ~ ~ I Wd\ 4 51 IltllCr. 111 Ralaj1 8 62 htnes, in Kadhttl 6 40

I ~ I I I C S . 111 Aii;i111:111111 3 '11 t i l t l ~ \ iltid 111 P~odrlatm 3 24 tunes du~irig the study

l~citorl I i 15 cvttlclli irOll1 lilcll ilvClclgC tU[ooVCl latios Bala~i hnd alughtumovei

of citiic~il ;IN%? ;in11 It Wt19 followetl by Kndhll~, Mamatha, hiantapur and

I'tod~l,~ii~i I I I ll~itt O I ~ I C I I:III ( IICI, tile co-effic~ent of vatiatlon shows c o ~ ~ s l s t c ~ ~ c y

I I I llic lidldlt S O ~ I C I Hiilai~i 111 co11tio111i1g tlie ln t~o liettei tllan the o t l ~ e ~ sainnple

lllul\

'I hc ;ivcid&c L I ~ I I C I I ~ i i s s~ t \ li1111ovel tatlo 111 tlie sample units of the Coastal

~cgtoil v;i~tctl trclwcc~i 5 29 ant1 6 41 tltnes w1t11 an average of 5 90 tuner wllh

L I I I I Y I S ~ ~ I I C ~ I IIC ~ I V C I I I ~ C 111t10 OF tnd~v~tlunl 1111its showed that it was 4 63 ttmes

111 K;IIIIIIV:IIII, 7 22 illnes in S i i k ~ k ~ d a m , 8 63 tlines in the VSP, 5 21 tltnes in

V t r a k I i r i ~ ~ a ~ ~ ~ t i i ~ ~ IIIIII 1 7 0 times In Ongole duting the penod of shidy The

V~s;iklinl~;i~i~;rt~i super ba/~lal tnn~ntaued a consistency ratto bettel than the 0 t h

supct l~;va;irs, j t s co-efficient o f vanonce standing at 0 14

'I.ltc ;Ivcritgc ~ , t t ~ e r i t assets hllnover latin In the sample SilPer bmaars of

Tclnag;ina viuicd l)etwcen 3.24 tlrnes and 6 92 times As for the UnIt-wlse

avelage ratio registeied, was 4 15 times m Kamadhenu, 4.00 hmes m An~anl,

6 29 timcs ln Neclllg,ri, 2 81 times in Kalpalnthn, 5 31 tunes u1

'l'llc ,1vc111gc Wol king cilplkll trrlliove~ tiltlo of t11c sample supel bazaas

Kay~lrl~celrln I~rglily lluchl~~lcd t l ~ ~ n l i g l ~ o t ~ t the perrod of study, varylug \=been

13 28 tlitic$ iilltl 101 07 t1111C5 A5 f 0 1 tile ~ndivldual avelage ratlo in Mnlllatha

wi15 I I 0 I ilnlc$. 111 11~11iil1 I t Wcli 27 0 2 (~~IIeS, 111 Kadllrir 9 38 hmes, III Atlantapur

3 Z I I I I ' I J I ! : ~ ~ I 2 07 L I I S The avoage ratlo tlep~cts ll~at the

A I I ~ I I I ~ ~ I ~ L I I ' I I I~ ICI [ I C I / ~ ~ I I ilild il lllglt tr~lllovc~ ol net wolk~ng capital dutmg Ltle

~pcliotl of ~ l u d y ill111 it Wilb lo i lo~e t l by Itlie B ~ I ~ J I , Praddatu, Mnlnrltl~a and

I I I I I I I I : I S AIIIIII~:I~IUI llatl a co-efficient of varlatroll hlgller than that

n f lllc olllct vllpcl ~ l i l l i i i i l 5 It S~IOWS [OW COllSlStenCy In controll~ng tile ratlo

dulrng Lhc pcilatl of 5totly A11t1 Llaialt was lnole cor1nste11t ~n cottholllng the

latlcl thsn tllc cilhcl!,

I'llc worklug capilai illlnovct atl lo III the sample supel bulzaats of the

Co;icf:iI ICI;IOII ~ ~ ~ : t ~ i t i c i ~ i ~ t l y varlcd tlullsg tile silrtly perm! Tlie avelage ~iir~t-

WISC tatlo 111 tile legloo showcd \ha\ 111 Kalp~~vnlli ~t wos 68 98 tlmes, 111

Slikakulirln 27 73 ii~~ic'i , in llle VSI' 46 97 tlrnes, 111 VlsRkhnpatnam 100 53 tl~nes

lilttl 111 O n f i o l ~ 6 05 t inle~ 'I'hc co-cffiolent of v~rration shows that Ongole (CV

0 09) had coclslslclmy belter tllilrl the otller lu11ts In controlhg the tuulovel ~a t ro

'l'hc w o ~ k t n g capital turnover m t ~ o m the samplc un~ts of Teliingana

moderately vnrletl The averagc inito in the legton vnrled between 6 62 t~mes In

1991-92 ~ t l d 23 77 tunes 111 1998-99 wltl~ an average of 11 79 times The average

lnllo of Kalpalatlla sl~owcd a lllgl~ and favourable turnover of netwolkmg

and rt was follr~wctl by Kamadl~enu, Neelagti, A d a h and h ~ m l mths Order

11 IS ( I ~ Y C I V C L I hlllll ( 1 1 ~ . ~ O - c l ~ i ~ l ~ t l ( of vnllalloli tllat Anjanl hat\ consistency in

C o t ~ l ~ ~ ~ l l i ~ ~ g 1110 till10 l l ~ t l ~ l lllllfl tile 0thc1 sarnllle units, ;uld 11s co.efticlcllt of

VnllarlLc ~lorltl :It 0 12

111 1llc fclc~cctl 111111f (11 i<iiyala5ccma tlle cul~ent assets legisteled both

~~osi l ivr wr l nrgcillvo I:IIIWIII l t t lus, v,ilyii~y between il poslllve rate of 45 32 per

I I I I l t I l V I : 1 1 I I l'ile siltne tlcnd is obseived in tile

volrlllic o l v ~ l c \ , which vil~tcd b a w c c t ~ a posittve rnte of 33 56 pel celrt in 1994.

05 to ,I ilcl:;rl~vc iaitc 111 16 25 pei cent 111 1998-99 From the ~esults of l 2 value

OO 25 1 1 1 ~ CCII I of v;~~lelicrtr W;IS iboi~rl 111 co~ lc i~ t assets and snles, ant1 tile t-value

(X 97.) \Iii~wctl 111;iI l l lc~c wns II sign~ti~tlti( llnpnct of sales 011 cuuents assets 81 I

I'hc vohimc ol cl~t tc~tc ns.;els n~ld sales in the selected supel bnzaius ortlte

('o;~sl:ll IC~:IOII v i t~~c t l I)C(WCCII R5 243 55 lakhs and Rs 334.65 lnkhs The sales

vl~lutllc 111 llic i c g ~ o o icgc.;tclctl a ylowlng nentl over the pevtous year's sales

[ l ~ t ~ ~ n g llrc I I C I I O C I of P I I I ~ Y nod t t v a ~ ~ e d fioin Rs 1251 49 lakhs to Rs 2028 43

1:tkhs 'l'lic csl~~rletctl ilnea~ reglesston equatlon sho~vs that t l ~ e ~ e was a

sigtlllica~ll cffcct of lilt sales on the current assets at 1 pet cent level of

a~l:l~llicnocc ]?lorn the ~csl,lts of i2, 80 80 per cent of variabon was found In

Cllllellt assets and sales

'file cutrcnt assets find snle balance of the imts in l'elnngana dllrlng the

1)crlod of s t~rdy m g e t l from Rs.66.66 l ~ k h s to Rs.116 34 lakbs, by teglstellng a

glowlag hencl, except in 1998.99 And the sales volume of the regton vaied

1>cl,lcc11 I < \ 213 811 i;lhll\ <111(l 1182 07 lakhq, leg~ste~ lng bath neg80ve

OOSIII~L! g l~ l cv t l l l t l tc \ OVcl llle IllCvIoos ycnl's sales volume T l ~ n t thele lvaY,ls a

algal l i~:rr l l IilllltILl (11 l l l C G~IICI 011 llle Lll l lel i t assets in the legion 4924 per cent

oi thc v,lll,ltlol1 111 ~ l l l l C l l l iI\sCI\ I\ C X P I R ~ I I ~ ~ by tile sales 2786 tile

LOIICI~I~II(~III~ I-v~IIIc. lvI11~I l I\ \ l& l l l l i ~ i l l l t ilt 5 pel cellt level o f s l g n ~ f i ~ ~ n ~ e

l l l c L,LIIICII~ II~IIIIIIICS III tl lc sn11111le S I I ~ ~ I b:lzaals of Rayalaseema

s ~ g l l ~ l i c : ~ n l l y v i l l led IIC~WCCII I<\ 49 48 lakbs and Rs 99 52 lnkhs l'he sales

volu111c III ll lc IC[:IOII s ~ g ~ ~ ~ l i ~ i ~ i ~ t l y l l lc~eased 111 all the yeas except d111111g 1998-

1)') 11 ~ , I I I C ~ l ~ c l w c c ~ ~ Rs 751 70 I~ILIIs t111t1 RS 809 78 lnkhs But 111 1998-99 Ule

c:ilcs (ICLIC~I~ICII 111 10 25 [lei LCI~I OVCI the prcvlous ycal's sales The eshmnted

IIIIC;II IL!~IC\\I~III C(~II,I~I~II~ III(IIC;I~CI Illat lllcre was n siglrlficant effect o f tile sales

OII L~IC L ~ I I I ~ I I ~ II:I~II~IIIC\ I t IS CIC~II L a m Ibc ~ ~ - v a l i ~ e , that 73 22 per cent of Ule

v~l l lc l l l l ) l l I11 I~IC LIIIICII~ I~dI i l l i t le\ IS e~p la l l l cd by the sales One urnt o f change 111

5nlc g ~ v c \ 0 0 0 IIIIIOIIII~ 01 C~I~III~C 111 cunelit i lab~lr t~es l'he conesponda~g t-

vc1111e 4 067, rvirs s ~ g n t f i c ~ ~ l ~ t ; ~ t I ~ICI c c i ~ t level

(:IIIICIII l ~ n b ~ l t l t c s 111 (Ire snelgie supcl bazaars o f tllc Constal legion va led

horn i t s I 5 7 18 lakhs to Rs 281 15 lak l~s l'he sales volutne in the reglon

~ e y l s t c ~ c t l ;I gtowrr ig t ~ c n ~ l ovel the prev~ous yeal's sales d1u111g the penad af

slurly, v l ny lng fro111 1251 49 lokhs i n 1991-92 to 202843 lakhs ln ~ 0 0 0 4 ' 'i''he

estllnetctl I I I I~~~ legtcsslon equictlon strows that there was a slgtuficmtrnpactof

Llle sales 011 ti le culrent liobilitles in the region. The *.value shows that 8227

pel cc~l t ol vi~lldllOll 111 tile CLlllCllt l l l ibllltle~ IS explalnetl by the sales 6 092

gives tile ICII)CL~IVC (-~illll~, W~ILII I S ~ l~ l l l f i c l l l l t at I pet cent level

l l ic ~IIII~II~ Ilnb~l~tlcs 111 tlie selected supel bazanrs of ~~l~~~~~

~ ~ , l ~ d c ~ a l c l y vdllctl 11~1111 1K%4[) 45 ialklls In 1911-92 to Rs 85 00 lakhs 11, 2000.01

/\tltl rllc r.11~5 vir l~~mc r r l l l lu IC~IOII vf~rled bel~vcett Rs213 86 Inklls and 482 67

I , I 1cy15tc1111g Ilolll ~lcgal~vc alid posltlve growth lntes Tllele was a

s i g ~ ~ ~ l i c ~ ~ ~ ~ t cllcct or ~IIC sillcs 011 the cutlent Ilabtlltles 'The 6 1 94 per cent

V;III,I~I~II 111 lhc LIIIICII~ l ~ a b ~ l ~ t ~ e ~ IS expl~lllcd by the sales One llnrt cliange III

~;llcs 1cr111l\ III O I I ;Ilnoulll or cllallge III cllllellt I~alr~l~t~es The collespond~ng t-

VIIIIIC ( 3 OOX) IS s l g ~ ~ l l i ~ , ~ n t ill I 11c1 LCII~ level

I'l~i, r l c l wc11h111g ci~p~lnl 111 tllc selected supel bazaas of Rayalasccma

Ilucl~~nlctl l~clweur~ KF 12 10 lnklls ilttrl Rs55 65 ldfl~s, ~cg is te~~~ lg a mixed

g1owl11 1,11c 111 lilt S I I I ~ ~ pc~lol l '[hc sales volllme In die regloti bad an lllclciislng

Ilcllcl csccpl 111 1998-99 VIOIII the estlrnatcd llrieiu regresston equatlon it is clear

tllill t l lc~c WII? 81 s~p~~~ f i ca l i t llnpact o f tllc sales on the net working cnp~tal 111 the

~cg to~ l ~ I I I~ IIIC Y~I IC of I' S~IOWS that 91 63 pa cent o f vmat~on m the worklng

cal)ltill 19 ex],li~~nctl tllo sales. 9,359 glve tile respective t-value, wlltch Is

hlgllly ilglllficnr~t a l I per c e ~ ~ t level.

'[.he sales worklrtg cap11a1 In the Coashi regloll satnple lllllts

allglitly va~lcd Tile net working capital va~~ed between Rs 44 79 l u l s and

Rs 92 73 I;tkhs by ,cgrstering a ln~xed growth rate The sales volufl1e the

legloti va~l~ctl f ~ o m 1251.49 lnklls m 1991.92 to 2028 43 l k l l 3 in 2°00-01 it Is

,l[15c~vcll ~111111 I l lC ~\ l l l l l i l t~d 1111~:ll leylcsslon equatloll that ,here nos a

e,lgnifi~;lnt tlc~lc;lililg Ilcgil(1Vc effect of llle sales on tllc worltlllg capital tile 2

legirrn I llc V I I ~ I I ~ tlt 1 i l l 0 ~ 5 lllflt 54 78 [)el Cellt of vallatlo~l m the worklng

c w l ~ ~ t t ~ l I \ c\l~l.ill~ctl IIY lilt ?ale\ i ' l~c co~iesponti~~~g t-value 1s 3 113, which

y ~ g l ~ ~ l i ~ i i ~ i l .11 5 I I C I ~ c n l Icvcl

I hc wr11lt111~, ~~ll) l Ial 111 liie 5i111111lc supel bazaais of Telangruia iallged

I I ~ I I I I I < $ 28 2 1 Ialtll\ lo Its 40 82 lnklls tillllng the peltod of study And the sdes

vol i i l~~c of llic ]ci:itrli vi~iictl bclwcm~ Its213 86 lakl~s in 1991-92 arid 18267

I I I I I I t 15 clcili 11o11l tile csillnnted lrncar reglesslon equat~on tk~at

lilc~c W;I\ 1111 s ~ l : i ~ ~ f i ~ a ~ ~ l ~ 1 1 ~ ~ 1 of tile sales on tlie wo~ki~lg capital III the legloll

llic v,ll~ic 01 I ' \Ilow$ tI1i11 1) 81 pel ccnl of valllit~on in the wolklng capllal is

cnl~lii~~rctl by l l ~ c siilci 0 255 gives lllc co~~espondlng t-value, whlch is not

s i g i i ~ l i ~ i ~ i ~ l ill 5 [ICI C C I I ~ level

11 I \ w e l l - ~ I I ~ W I I tllnt the fullds now statement analys~s of a busmess 1s an

C ( ~ G I I V C I ~ I C ~ I I I & lo as5c)b l l~e wily curlellt filnds nie employed It also gtves a

clcf~l 11lc101c ol 117 I ~ q ~ t i d ~ ~ y status In Rayalasee~na the Mmatha S11pe1 Bazaar

~ ~ ~ o b ~ l l \ c t l the lnalol 11a1t oF 11s funds from loans and bus~ness opelat~ol~s The

[Iloculemclil of la;lll vnrred from a high of 98.02 pet cent La a low of 19 76 per

cent C)ot of l l ~ c total geneinted funds, 25 to 95 pet cent were used to meet the

worklrlg cilf>l[nl llceds And tile lelnattung were uailsed fol the ~ Y m e n t of

govclilmcllt lilvcs,mellts, repayment of loans, pulchase of Investments, pulchase

of f u r ~ ~ i t u ~ e nlicl olliels assets.

I llc I~IIIIIII ~t~- I~ l lC~dt lV( ' S l l l l ~ l [ i d ~ B l l l I p ~ ~ ~ l l ~ e d tile o n ~ o l pat of fil,,ds

ll~tclllgll \ l l I ~ l l l c i ~ lIl l l: l i lt lOll [ l l l l l l lg ill1 the YCalS except in 1997-98, rind [Ile rest

I 1 1 t I 1 Ill11 [Illlllifi YCiit 97-9R, it llloblllsed fijllds ~ l o u & l

WOI~,III~: ~ i r l i~ t~ l l A III~IOI llilll 01 115 I l r lnl fr111il5 WBS clla~~i~elled 111to worklng

ci~l)lt i~l. ~cl).ry~)lclIl 01 Wl~vurlllllClll 10illl5, /)LIIC~I~IS~ orllluestments and pu~chns~

lt11ri11111c. IIII' ~ r l l l t l l l5 t i l~loi l t I ? ? I I)el CCl l t 111 1tsf1111tIs dmlng 1997-98

I llc K~IIIIIIII SII~ICI llil~i~ii~ IIIO~IIIZC~I IIIC III~~JOI pa~t o f its filntls tIuough

loall5 illrd \v~l~kl l l i : ~illlllil~, 11111~ il 'illltl1I illllnUllt o f flln(fs tfuough short tetm

cepttill IIIIIIII~ lllc l)c~itlt l 01 itutly Al l ol ih EIIIII~S were l~t i l~sed fox Lllc l~ulcllnse

111 IIVCIIIICII~, lul l l l lu~c. I111 lhc ]iiiylncllt of govelrl~nellt invest~neilts and

ICJ)~I~IIICII~ 111 O ~ ~ I C I 1c iC~i1 \ 11 I1i\I I'IIII~F III ~IISIII~SS opelations tluling all the ycats

x i 7 i\ntl tlils ELI~~CI l)i~/iltli ~~t i l i$et l the funds to inclease the voiume

111 115 w o ~ k i ~ ~ g ci1p1ti11

I l ~ e Anenla l i~~l Sulic~ Bi l~aai gene1 11tcd fiintls thiougll business opeiations,

~(IIIIIS, c;~p~tal e l ~ t l w o ~ krllg cnl)lial tlurlng Llle pc~iod of study Of its total filnds,

40 lo 65 pa co l t wn, ilscd to lepny tlle loans dur~ng 92-93, 96-97, 97-98, and

2000-01 0llllng 1994.95 imtl 1995-96 the 1111rt lost o tnnjol pait of its funds

tll10ugh 111 its business operntraiis

'Sllc Prodrlatl~l Supe~ Baznai mob~l~sed the gleater !Jafi of its filnds

th~otigl l business operations, I t varied iiotl l a hi811 of 99 70 per cent 1995-96 to

II low of. 28.15 per cent 1997-98 Ant! the temaimg funds Were llrocured

l h i o u g ~ ~ cnlrltal, loans, RII~ sale of investments and wopklng ca~ltal The

111 lilt ~ lh l f l a l ICglOll tile kftlpavalll Slipei Bazoa~ t~~ob~l i zed the

oi Its I I I I I ~ I ~ I l ~ i O I I ~ I I ~ O V C I I I I I I C I I ~ I O ~ I I ~ nil[[ otlte~ loatls U I ~ tile test wfis gellelated

I I ~ I I I llic wol hliij: ct1111ti1I All the f~ltitls wele ottltsed f o ~ tile paymetlt of

govcl~illlCllt illld O ( ~ I C I l ~ i l l l ~ , [ l l l l~l l i l~e of ptOpellleS, inveslmcnts, furaltt~ie, olller

;~siel:, arltl f o ~ lllc wo~killg cajlllnl iltlnng tlle pellod of study Moteovet t l~is

S I I ~ U I I ~ / I I : I I 511~111i1iod locscs ll11o11gI1 its busmess opeintlon duitiig nil the yeals

C Y C C ~ I I I I I 101)1-01 ,111d 2000-0 1

l llc Si1hill~1il81111 S ~ i l ~ e t U ~ L ~ I R I 1110~1tied ~ t s fiinds fiom its busltiess

~ I C I I ~ I O I I S I I I I I I - 0 7 9 to 2 0 0 0 Af~d the rest of the fiuids wele

t l l o ~ ~ l l ~ s c ~ l I I I I I ~ vnliorls so~itccs sech ns capital fioru tnetnbets and goveinloet~t,

l l l d l l ~ iltld ~ ( ~ i k ~ i l g ~ i t l ~ l t i l l rile total nv~llable futlds of the untts wete t~til~sed to

icl~ily lllc govctnmetlt lni~ils, p~~tcliese of investments, filrnitute and for the

p l o c u ~ c m c ~ ~ t of w o ~ k t t ~ g cnpltal And the stipel bazm lost some of its fwds In

bustncsa ollei;~(io~ls d u t ~ n g tltc rnlt~al years.

'J'ltc VSI' Super Baznai seculed ttle major pat of its filntls from bllsiness

opotnt~oss, wluch vaued betweell a hidl of 81 84 per cent and a steep low of

4 I8 p a cent, and tile I ~ I I I ~ I I I I I I I ~ fulids weie mobillsed though capital, loans,

sole of lllvestlnents ctc, The amtlable f i ~ ~ t d s of the super bazaar were used to

1c11,ly ~ l l c g o v r ~ l l ~ l l c ~ l l :ind otllcl I~ i i t lq . pi~ichn?e o f illvcstme1lts, pmchase of

f ~ l i ~ l l l u l c ;llltl 9lllllc wits ~~l i l l l l l~ I~( i Ill lo the wolklllg capllal

VI~,I~~I,I~':I~II:IIII ( '0-IIPCI~IIIVE SU~ICI Bazaa1 li iob~l~zed the better pa,[ of

luntls 110111 IIII\IIICI\ o~lcl~l l lOl l \ (lllllllg 1091-92, 1992-93 and 1998-99 10 2000.

0 1 111 l l lc IUIIII~IIIIII~: IICIIOII i l l l i ly I[ nLlta111ed f1111ds tl11011gIl IO~IIS, ~~~k~~~~

I I I I I I I I V I I ~ I I T'l~e total nvallable filncls of the supel haaar

w c ~ c 1111l1\ctl lo1 lllc 11ay11lcnt of loi1111, pnlcIli~?e of Investment and i"uln~tu~e etc

M u ~ c o v c ~ . 11 ;II$II loul WI~IC o l it$ lulitls III Its bus~neis ope~at~uns du~lng the years

11o1n l'Y)'I-O,l 10 lOlJ7-08

l llc I )111:i1lc Supc1 Ilil/ilnl ~ l ~ o b ~ l ~ s c t l the major palt of its funds t111uugh

1 1 1 1 1 I I I ~ I I I I I I~IIIIII~ 1'102-97 aboul 7278 per cent of the CIITI~S was

l i l~cu lc i l 1111ln rlio wr11 l.1111: c11111ldl 'I ilc sllpel bazna~ ullllzed all of ~ t s funds for

tllc ~I I IC~I , I \~ (11 IIIIIII~~II~ all11 to ~ l~c~c i l s c tlie work~ng cnp~tal Dutlng Llle yes1

I1lO[i-05 tllc \LIPCI l~ i~/ i~i i~ c~seti 67 I? per cent of funds for the pflymeut of loans

Anti i t ~ I I ~ I I O ~ L colnc o f ~ t c filntls t lul~ng the yea1 1998-99

In thc I'clcngi~l~n ~eg~on, the Katnatll~ena Super Bazaar obta~ned 8 liuge

illnollnt o l l i l~lr ls r l l ~o~ lg l i I~us~ness opelntlolls 111 nll the yenrs of the study Dulvlg

1995-06, It illso p roc~~ led some fillids thlough woihng capltnl in 1997-98, and

(hlougl~ lo;lns 1998-99 A I~RJOI. portion 01 its filnds were used to actlulre

wark~ng cllplta[ ~~t also lost some of its filnds In business npelatlous dull%

1997.98

1 1 /\llllll 1 1 1 H.i/a,l~ tllclbi~i5crl il ialge pait of its funds througll

o l ) c ~ ~ ~ ~ ~ ~ ~ ~ i c i l i~c t l v l i l r r l~c lwccl l 1')')1-02 a ~ l t l 1096-97, and in 2000-01 B U ~ dlwmg

it l ~ ~ i ~ ~ i ~ l c ( ~ ~~llll(' f l l i l ( ~ s 1 ~ 1 1 ~ ~ ~ 1 ~ ~ 1 ~ o ~ l l l ~ Ill lcB7-98, niit~ In 1998-99 ant1 1999.2000

I I I I I ~ ~ 0 1 1 1 : ~ l l l l l A { : l l l i l lC I [lilll 115 fillllls WRS use11 to Increase wolklng

ciil)llill lillllli l ~ ~ l d l(.il wc l i I I ( C ~ t t l ( ) I I I C ~ ~ ~ ~ Y Z filtllltllle, Inveslments, properties

alitl lo ~ c j l ~ i y lhc IIIIIII\ I I~rwcvci. t l u l ~ i ~ g peilotl f i no 1977-98 to 1999-2000 die

sullct II~/;I:II 1051 iolnc i r l 11s luntl.; t l l~ougli it? bus~~~css opelat~ol~s

I hc Ncclal:i~ I Sullcl llil/i~i~l obta~~ietl collsiderable funds tluo~igli i t s

I ~ t ~ \ i i ~ c \ s o ~ ~ t ~ t , i I ~ t r t ~ ~ , (lu11i1g IIIC ~li lc ly l ~ e ~ i t ~ d But i n 1994-95 11 obtalned some

c1tp1111l lu11tl5 allti 10 IJIII~I~NC Investincnk tlu1111g the per~od of shidy I-Iowever,

11 iil5o IOSI SOIII~ 111 I(\ IUIIIIS LIIIOII~II its bi~s~iiess ol)e~atioi~s dt111ng 1994-95,

1006-97 IIIICI 1007-08

lilt K i ~ l l ~ i ~ l i ~ ~ h i ~ SIIIICI i3ilflnl got R 1118JOr part Of Its funds t~ii0Ugh Its

w01k111g C;I]II~I~ cllllulg tllc yeais 1994-95, nntl 1996-97 to 2000-01 But in

lernalntllg yc i i~s of tllc stutly period, i t obtniiied fui~ds through govelnrnel~t and

0tl1e1 l o ~ ~ n s I t coultl plocure funds fiom its busmess operahons only in 1991-92

111tt1 2000-01 ( 3 ~ tile totill funds ;I mfljor p n ~ t w u lost in tts bllslness opelations

r i u i ~ ~ l g 1992-93 lo 1999-2000 ~ u t in 2000-01 about 51 62 Per cent of futids

were used to purch~se ~nvestillents ~ n d tlie remaining was uhllsed fol the

purclrasc o f ~nvestments and to repay the 10811s of the government

I 1 1 ~ At1111 h i 1 Sllllcl l~t l / i l : l l l l l ~ b l ~ ~ ~ e ( ~ a lnajol pill.t of l t ~ fundS tluouyh

b~lslne\s 1qlc1~1lOli~ O I ~ ~ Y , ~ l l l ~ l l ~ i l l l ~ d fl01n an enviable iilgll of 97 7zpe, cent

1996-'J7 lo ,i I I I W ol 10 6h 1)Cl Lent 111 1993-94 A I I ~ dlomg 1993-94 about 6799

11" LCIII ~11111 111 2(1(11J-(II ill10111 4 5 26 per eelit of fillids were moblllsed tluUugll

V I I ~ I I 1 1 A llli1101 l l i l l l 111 l I 1 ~ totill filllds wtis clia~~nelled to inclease the

wa~Llll[: ~:illlI~11 full~l'l l ~ ~ l l l l f i t l l ~ 5111dy pcllod tIoweve~., ~ I I I I I I ~ 1993.94 find

20011-01 11 I , I I & ~ ~ I I I I O I I I ~ I wil5 I I S C ( ~ lo I ) I I I C ~ I ~ S C 111vest111ents And tlie lest of the

l ~ l l t l \ Wil\ ll\cll lo ~ ~ I l l ~ l l i l \ ~ Slllllltlll~

I lie ~ ~ h o v c ~ I I I I I I I I ~ I I ~ i ~ c ~ e l i t ol'tlle stody of the selected supel baraars of

llic llllcc ic1;lolir ol Alltlll~a I'~~itlc$Ii, aliows clearly that most of tlle111 have

s ~ ~ c c c s ~ l u l pcil{l~ 1n;mt.c l J~~ lc$a ionic coliclete ~emctl~al steps ale taken w~thout

ilny [lelc~y liy [IIC ~UVCIIIIIICIIL, n5 those connectetl w~tli the cotisurnel

C U O ~ ) C I : ~ ~ I V C S , I : ( I O I ) C I ~ ~ I V C S ~ I P C I bil~ilals 111i1y have only n l~oinlnal existence

SU(;(;I<S'I'IONS

0 1 1 tllc bas^$ of the I i ~ ~ d ~ a g s of tlie study peita~n~ng to Workrng Caplml

Mau~~gcnicnt in tllc selectctl silpel bnzaa~s of Andhra Pradesh, ~t IS npposlte to

lnakc iI Icw vlntle suggestions to 1111p1ove Lhe perfor~nance of the sample umts 111

~)niticirlat arlrl the coopc,eriltlvc slrpel bazaars ill general md to help them to

siliinounl Ltie problems tlley have been facing m their dny-to-day b s l n e s ~ The

sopcr bazaars Intended to serve (hex members by proculng essenbal food

and otllcr [terns 11, bulk from product~on polnts and dlstnbutlng among

~ l lc tn i l c~ \ ~II ~ ~ c ~ + ( l l l , l l l l c c111(1 ,1Ih)11l~111le ~ I I C C S They alc also to

gootl$ 111 ll11'lh:~ c~nli PlI11lY Oll ly by la l f i l l~ng theye icglttrnate expectatlolls can

I l 1 1 1 1 1 1 1 ~ 5 1 I I l lc l l custotner ,uld protect tlleln agalnsl

LIIIILIIC~ 0 1 l l l l c l l l l ~ i l l I~II~IIIC\IIIICII I I i ~ ~ e v e l , tllcse ob~ectlon a1.e ralely fulfilled

By illc ( 'OII\~IIIILI ('IIOIILIII~IVC ,S\IIICI U i i / . ~ d l ~ 111 Antlh~a I'latiesh n~ ld elsewllele

11 15 IIICII.IIIIC IIIOLII IIII~IOI(~III~ 10 l i~ l (~ II~I~I~I~I I I~~C steps to see hat tlley llnplove

~IICII IICI IOI III:IIII,C illlil wvc IIC~CI 111~11 collsllineis By dolng so tlle consume]

~ o o p u ~ ~ l ~ v c IIIIIVI:III~II~ 15 ;11so ~ l l i e ~ l g t l ~ e ~ ~ e d F~rst o f 011 the coopeiatlve supel

/bcl/il;l~$ II~IVC 10 ire l~clpud to t ~~c l i l c llle plolllen~s vexlng lhem

r I.II+I l r i IIIL IIIIIIIICIII\ I\ IIIC IIC~II~II of financl~l I~SOUIC~S 'l'he fina~lcial

ICSOIIILCI 01 l l l ~ ~II~ICI II:I(:IIII$ $II~LI~(~ 11c sliengthenetl by lncteaslng the11

III~II~IICIL~III~ a t~d C I I ~ I ~ ~ I I I ~ ~IICIII to get loat~s fioln colnrnerc~al b~nks But 111

Ihc LIIIIIIICIIIIVC II~I~III~~Y CIIVII(IIIII~CII~ even fi~ln~lctal Inshtutlons, whlch ale 111

111c IILIIIIIC (CCIOI II~IYC {lot bec11 extetitl~ng sul~port to supel bnzaa~s for

III~~~IIIJ: t11c11 ICIIIIIICII~CII~S I t lias to be admrtted, hawevel, that gettlng

WOI~IIIG C:I~II:I~ illllds [IOIII bn~lks ult~tnately depend3 upon the performance

of Ihc soclctlcs thc~nsclves A$ a mntter o f fact Inany o f these supel bazaats

iwc ao i III ;I posltlon ta SU~II~IL the~r ilnnual reports as silrety as the11

p~of i i ;~ I ) l I~ ty p ~ ~ l t l o n IS very weak So, their probleln of finding filnds 1s

~ntcr-llnkcd with ,101 only tl~ett perfotmatlcc but the lending policy of the

bi~nks. 'I'herefolc, the Gove*lment should take the lnltiative and intervene In

this Il l i l l let so that banks libocnllsc lhe~r financial suppod P Q ~ ~ C Y ow^*^ the

L~I~IIICI:I!IVC ~IIIICI l ~ d / ~ t ~ t t \ . \[I l l t i i t IIIOY sl te~~g lhe~t thetr finmclal resources

;~tl t I t c t ~ i l c ~ ~CIV ILC to c ~ l b t ~ l t l ~ l i d l best they cnu

P I h c ~)~l~(lilllilll~~: 111 l 1 l C \:ltlllll~ ll l l l t? tnakes i t e ~ d e n t tilot tlley have llotpald

I ~ I I I I I I w ~ k n c p a Purtl ln tlIose who ate

~~III~\III~: ,l l lcl 111c f i t ~ ~ l l ~ ~ t : t l II~.II~CIS of [IIC ulpet liazaa~s ate not well velsed in

l l ic I~I.I~~~IJ:CIIICII~ 111 ~vo lh l t l g ~ ~ l l l l l a l 1111111s, titt(i llielt ~11p10acll to 1l1e11 task 18

IIOI $CICI~~I ( iC I ICY (111 110t I l i l~~: i l l ly 111 tl(1~llt tinilflclnl rnarrRge1nent piacttces,

WIIILII ittc vcty vl l t l l 10 l i l l i i l t ~ t i t l t ~ l n ~ i n g e ~ ~ i e t ~ t It is very m p o ~ t m t t l t l~t

LIIIIJICI~IIIVC ~IILICIIC\ ~ V C SO~IIIIIY t11011gl1t to t l ~ i s aspect of W O I ~ I B ~ . ~ U I I ~ S

I""'lc1llly

r l Ill: III~SCIII \(IIIIY \II(IWS 111~1t CIIOOCI~~IV~ super bseaets SII~~CI Eloin scuity

I I I I I L I'llcy tln tlot ltavc st~rfioeat casl~ balances They ruli the11

II~\IIIC$\ r ~ ( ~ u r i i ~ ~ ~ r n c i v ~ r l t ~ ~ t ~ l $ctllicrcal casli ~csomces, whah damage badly

tltctt I I ( JL I I~ I~~ II~\III(III Ibis i r e ~ r l is t tone~snl

I1 I$ i ~ t l v ~ \ i i l ~ l c lor tlrc cooperdtlve lllstlh~ttons to have n co~iip~ehensivc

l o t c ~ d s t ~ n g 111 ciirh, so tllrrt t l ~ c y II~KY be prellnted to meet any shoitage of cosh

a1 ;tr!y i inrltorlar porn1 of ~IJIIC 7 o be able to do so, they have to b~~ng about n

b i ~ l i ~ n c c bclwccit l t ~o f i t ab~ l~ t y and Ilquldity. It1 m y case, if they have excess of

cash II;~I~zK~, tjtcy ~~IOIIJ~J Invest i t 111 short-te~m secllrlties Or deposit In

commclc la l banks i t is suggested that managements PrePue s ~ a t e ~ e l l f i of

casll i l l f lows anll outflows penotlicnlly and assess their finanma1 Posltlon, so

; hi w~11hi111: ~ ~ l l ~ l i t l ilcrl\lollr ~ i l c lafluenccd by vatlous act~v~ties of super

ba/,~:il\. 1:~lllll:illoll (11 CXclLI \V(lll\llig ca[11taI iequ~re~ne~l t IS always a difficult

t i I\\ p r ~ i l ~ c pic!c111 tlcntl. III tile lllniket environnie~it supel bazaars

*IiotiI(I I I ~ ~ ~ I I I ~ ~ I I I I I I IOIC \ I ( I L ~ ( . ~ V I I I L I I I C ~ I I I I I ~ tno~e furitls But they ale not III a

I X ~ Y I I I O I I 10 I ~ I C C ~ W O I L I I I J : ~ i i l l l l i i l lequllements It is also ev~dent fol the

111mc11l ~ni]\i l iy ~111dy Illill 1 1 1 ~ ~ i i%~i~igc~nents of supei bazaa~s ale 110t 111 a

I I I I \ I ~ I I ~ I I lo r i t o l ~ ~ l ~ / c lilt tcclctcrcti illtltls by co i iv~ t~c~r~g fiiial~c~al instilutlons

A\ ' ~ ~ I I ~ L I I O I ~ F 111 ~ ( I ~ I I I ,111: lilikc~l wit11 [lie fina~~cinl performance of coopetat~ve

supel I ) :~ / ; I ; I I \ l l~cy h,nc 10 liiclcaie 1Iie11 bus~ness volume, as tills also e~iables

1111: i i~llci I ~ i l / i l i l ~ \ 111 lllect ll~cii CiIrrciII obl~gal~ons T!~e~cfoie wh~le

I O I I I I ~ ~ ~ ~ ~ I I I I ~ ! I I I I ~ IIIIIILY il~i(I ta1(111l: a dec~s~oii w~th legard to w o ~ k ~ n g capltal

l i~iid\, I I ~ ; I ~ I : I ~ C I I ~ C I ~ ~ 111 ~ I I ~ I C I I I ~ A I I ~ I I S would do well to take all the necessaly

Iiicasiile$ lo rlnpil~vc IIICII cffic~ency In managmg cull'ent futlds

r As 111c~c lilac 70 pcr celit tlf cuileril assets of most super bazaius ale invested

011 invclito~icc tlicy have lo focus mole 011 efficient mmagc~ncnt or

Invcllloilcs. 'Sbc liivcntoly luniover stloulld be speeded up so that the uillts

lnrnlinlze t l~elr il~ve~rtoires hr tlie pieseat Inqelry it is found that all most all

tllc supcr bazn:\rs have problems of pdmg up of i l l v e n t o ~ m clad1 Because

o r p"blems blocklllg of tnventorles III cloth, some societies have already

wltildrnwn clolll llelns, Therefore it is a dire t~ecesslty that they keep a close

r 111 olllcl to ~ lv l l l l l \V:l$l,lI:c 111 lllvclltoly lnanage~~ient, plopel Rllmlgcmen+ for

grrtrtl\ III i:otlt~~vil$ ~ l i ~ l l l t l llc i l~aile If the stock 1s on a [;lrge scale, any

, l j ~ l t r r l j ~ r ~ ~ ~ l t ' I I I~CI I~I~I~~ I~L~IIII~~IIC 1s to be adooled fol stock~ng atld piotectrng

I I I I I Y 1 1 1 1 1 1 1 I llcie ~lic;~slllcS ~!lhlniitely lead to rnllllmlsmg the

p ~ t l h l c ~ r ~ t III ~ ~ ~ v c l i l u i y alltl ~n~~x~rn i rep~of i l ab~ l i ty

, 11 15 .1lw I~II~CIVC~I llli~l 1111: ~)e~sorlnel who ale look~ng aRer lliventorles we

cllllcl IIIII vcly sc~ IIIII\ II(IOII~ I~ICII WOI k 01 ullaware of the lrnportarlce o f the

III~IIIII~:CIIICIII (11 IIIVCIIIIIIY I IICIC~OIC i t IS VCIY r l l ~~~o~ tan t tl~at the p e ~ s o ~ ~ ~ ~ e i

wlli l ,IIC* Irroh111): , l l lc~ VIIIIOII\ I~~IIIS of lllventuty ale educated and haineri m

~ I I I ~ ICK~IIII 11) I~IIIII~v ;I SLICII~I~~C apjjioacli 011ly then the ef'fic~er~cy of

~IIVcaioly ilcli111l111cr11 \vollltl ilnplove I t i s also uecessary to fix n nor111 f o ~

IIIV~II~CII~ IUIIIIIVCI III cernlc (11 lllc lilllllber oFti~nes These nomls cnn be set

by Lllrryttlfi 0111 III~C~~III-~~IIII COIII~II~IIFOII i n 1111s regnld the supel bazaars crrn

111kc tlle l t c l l~ ol (:nl~sultnllcy nlitl l'lomotion Cell of NCCF Llmrted, New

I ) c l h~

i I1 IS trlso r)l)savcd ~IIIIL ihe coupelnt~ve siipel bazilars have only a rnxrbqnal

love[ of C I C ~ I ~ sdcs partlcuIt~rIy to the Govemlnent deparments and

~[~r i tv~r l i te [ consllnlcrs. I t scetns the11 collect~o~l efficiency too 1s nlodelate

IS rcceFsaly to c~llloucc credit snles to all the govemtnent departmellls,

institutlons, find I[I((IYL~UBI COIISIIJII~~S by form~1atmfi 8 ~ ~ e ~ l f i ~ uedlt !Jal'cy

I I I I I I I 'i'lnr would augmellt tllc sales volllme At

11lc j.1111~ IIIIIL' 111~ CI~IICLIIOII ?Y\(CIII lras to be rmproved anti speeded up

\VII~I(IIII IC,IVIII~: IO 11,lil 11ch 11 15 .~lao advrsecl to forznulaie an npproplliite

clc(llt II~IILY '11111 l l ) l l ~ ~ II sI~I I I~~I I I I~

r I:IIIIIICI 11 I\ II~)\CIVC(~ IIlIlt ~ C W LO-o]lelat~vc soc~eties follow ally lnventoly

LOIIIIO~ 1(,1 IIIII~IIV* I\\ IIIVCIII(IIY ~( l t i t lo l teci~~~lq~les would glve beltel result$,

11 I\ w l f i l o ~ l ~ 111 ,nir~pt llrvetitoly colrllol ineasules Tot enhanc~ng eficlency 10

I:L~II~IIIIIC OIIICI ~)II:IIIIII~ (I:O()), ABC allalysls ctc ate adopted by the

, l l ~ l ~ ~ t l l ! \

r I t IS 11ll\c1 v t ~ l I~I,II 111 ~I~IIIIISI 1111 (IIC ~III~IC sllper bazaars the~e 1s a low p~ofi le

01 III(IIIIIII) II'~ &veII :I\ [ ~ ~ i ~ l i l i ~ ( ~ ~ l ~ t y ~OSI~IOII l'he cunent tatro and I ~ q u ~ d ~ t y

I ,11111 IIIC I)CIII\V ~IIC ~ta110~1rds 'I'l~clcfore i t 1s su1g8ested that they Increase the

VII~IIIII~ 111 cilrlcrlt ;laguts wl11c11 leads to a so1111d llquldlty posllton

.P I'lrc illrntrvcl tl lttoi rn a l l lllc sarlrplc bnzaatq ale lower than the stnndclrd 1Iis

t i LI~IC aectl to nnplovc the clneover of Invcntoly, debtors and cash component

by w l~ l c l l tllc (irofitsblllty a l~d Ilquld~ty can be improved. It IS suggestctl tilot

tire nl;l~l;cycnicnts tllke care or a11 tlrese tlinrgs by propaly analyzulg the

vllllouh cclnlponclllr ofculrel~t ilssets

2. DI~.,II~ tllc study i t rvns observed t l ~ t the major sources of the supel bszaals

w c ~ e clinlrr~cllscd towards workrrlg c~pltal COmpOnefltE, p;utlculflrl~ t ~ w g d s

rllc lnvcrltory was also observed that tlie tnwntory turnover was at fl low

clib IVIIILII LIII)\VC~ (IIJ\VII l l te t ~ l l c ~ ~ ~ t l a g cycle Theiefole I[ 1s llecessary tllat

IIIC WOI~III~: luntls CIIC prclpcrly lltilisetl to Illcrease tlie h~tnover on vailous

~ ~ ~ i i ~ p o n c l t l ivll~11)lll c\Lc\\lvciy 5Id~hClllllg any particulal componellt of the

I~,llhll1~~, ~illlllill

r Il lc ~ ) ~ ~ ~ l l l r ~ t l c i i ~LCIIIIY l i l t i t l l ~ l i l l l cso~~~cef IS colnlnon to al~nosr all the super

II.I/II,II\. I)CL.III'I~ (11 i ~ ~ > ~ ~ - i i ~ i ~ ~ l i l ~ ~ l l ~ l y 01 ?llfticleltt runtis, lnab~l~ty to get the

~ c c l ~ ~ ~ l c t l 1111ttl\ tllc IC(IIIIIC~ ~I I I~C Anil tile cost orlrorrow~ng is vety h ~ g l ~

111 11119 1c1(~11(1 ~IIC (;~VCIIIIIICII~ IIIII~ biillks come forward to offel financial

lo nll~pil I illld 'li~l~~:li,l~(l Ill(> III~CICSI\ of ~ o ~ l ~ l l l l l e l Coopeiatlves as these ale

LAII~:~II 111 t11c 11i1y 111 g10l111l CLIIII~~C~I~IOII Fulthei, ptlvatc Lladc~s tile

~s~;IIIII$IIIII~: ~II~ICI III~II hcts 011 11 lit~ge scale il~aklllg athactivc anangernents to

IIIIO COIISIIIIICI\ tci\vi~~~Is ll1e11 $11011~

r I:llo~ts \ l i t ~ t ~ l d i i l50 IIC IIIII~C to shengthen the ~nternal soulces of the

co1)pci:1t1vc5 hy IIICIC:I'~III~ ~IIC ICVCIV eiiliilngs by means of lnc~easlng the

slllcr volu~nc 111 11rr$ lega~tl lntctlslve sales cnmpnlgn, product

d~vcisrt i~ntroer, witlc pliblrnlty will llelp rn aclt~ent~g the tslgeted sales

l ,u l t l le~ i t wris obse~vcd tllal tile ovcil~ead expenses o f the stunple rm1t.3 were

c o n s ~ d ~ l ; l b ( ~ ll,yh 'rllerefore i t 1s advisable for them to reduce the ovclllead

exl~e~rscr, by ndopling bi~dget~ng and budgetary oonkols.

r III ir~clcl III l l l l ~ r l ~ i v c l l lc ~lvt'l,lll c f f i ~ l ~ l i c y I11 filiallee atltl other aspects

~it,ln,il:cinclll. ~ ~ u l c ~ ~ n ~ ~ l ' l l in:lll:lgcls \lioul[l be employed by tlie lllslltuhon to

,111~:"'"" Illlill \<ll?., .1111I ~ I C t l ~ l l l l l i l I l L C

.- 11 1s ;II\II i~ l i i c i vc r l 1l1,rl IIOIIIIL~II i l i tel fclel~~e in ilte wolk~rig of cooper,ltlve

\II~I~I ll,l/dd19 1111s II~UII 1111 Llle 1nuc:ite Mnl~y people ate uslllg tilese

LOI~J)CIIIIIVI~\ il\ ~ I c l l j l l l l ~ : FIUIICS 1111 lll~ll ~ l ~ \ l l l c a i caleei and oftell lo plomote

I I I I I I I I I I I It 15 I I ~ L C I ~ R I ~ lo kee11 nway po~llrcill ~ntetfeletice ntld

.- ( ' ~ ~ c i l r c l ~ i l ~ v r ~IIIIUI II,I/;I;IIS lhilvc ccitrlc llito belng to supply the essential food

ilcliia 1l1,ul ,tic 11;ltlly IC(IIIIICII by lllc tnajoi segrnetlt of people To seme the

CIIIIIIIIIIUI'~ I ic i (c~, IIIC ~ ~ ( i l ~ e i i l l ~ v c silpel ~ B Z ~ R I S sllould p~acuse all the food

Ilcln\ l i o i l l l l ic ~III~~IICIIIIII 1io11i1 in bulk, l~u~cl~ase all rnate~lals in bdk at low

IIIILUI r~llll 11111~ I~IOVIIIC ;ill 1110 i ~ r l t ~~ tea~e r~ t s ofco~~sumers

r 1'0 n~:ikc [)li~ch;isc.;, llielc is ;I system o f i"o~~ttlnga purcl~ases co~nlnlttee fiom

illliong ll lc nlctrtbcis of coopctntive super bazaars Whtle fonnlng such a

COIIIIIIIIICC i t i'i CSSCIIIIII~ to lnitke sule that the persons selected as membels

Ilavc ~~dcquntc ktloruledge 111 the area of purcltases, so that the qua11@ of

guotls pc~rchasetl 1s assutetl aitd tlre prlce pattl 1s sensonable

i. Al111os~ nll coopelatwe supet baznats have tlie problem of plllllg UP ~ l l s ~ i d

stock :kfclotlls Tills problen~ usually nr~scs because of i r l a b ~ n d purchase of

vmious itc,lls of cloth lrrcspective o f their requltetnent, designs, fashion and

I~IL:?CIII I I I O V C I I I C I I ~ lhelc IS ,I lot uf c r ~ t ~ c i s ~ n f ~ o ~ collsumels lhat tllose who

alc lC9l;i~l5lbl~ f i l l 111~ plll~iltI.;e ale peisuaded by un-saleable clotll, beonuse

r l l q ~dic o l l l c l ~ l t c gi:ltltietl I1 1s suggested tllnt purchas~ng

~ I I I ! I I ~ ~ clln\l5l (!I lllcnlIlcl5 111 lionesty, tntegsl& atld dlgnlty a~rd have tile

I ~ ~ ~ U I I C ' I L ~ ~ o w l c d ~ c 111 tlilt lcgald Ccllal~lly ~t wollld rellcve supel b u n a s

i io l l~ l l ~ c ~ ~ I I I ~ I I I I I ~ ~ I I ( ~ ~ J I C I I ~ of I I I I S L I J ~ I I I V ~ I I ~ O I Y If tile i~~isoirl stock 1s

ali~roi 111i1l I I I WC, 1Irc I I ~ ~ I I I C I ~ C I I I C I ~ ~ sl lo~~ld tnke im~ned~ale rneasu~es to dlspose

I I oli , CVCII by ollc11irg ~ I S C O I I I I ~ Accumm~latian woulrl only wo~sell the

Sllll,IllllIl

r I he C I I I I { I C I I I ~ I V L : SI I I ICI bnllllll~ ille atlvl~ctl 10 m11it81n RIKI have in dlsplily all

v,~!lcllc\ ol collaulnci goods, as consualels expect to yet all of the11

rcc[irllclllcrlir i~r~tlct rlnc itrol'

'I llc ~ I U L I , s l i o~~ ld i ~ t l i ~ r ~ g ~ i l I I I 811 alhactlve way The propel classrficat~an of

~:ootl\ i \ vcly es\c~~tlal 111 t l~is lcga~d Val~ous categories of goods have to be

I I oltlcr 1111tl 10 be arrirrtged in dlfferer~t depnrhne~its as pel tlle

CIl~Cg011Li111011E if tile (I~spIay of goods IS ath~ctlve nnd irnplesslve

cons i~ i i r e~s would bc el~couli~ged to wslt the super bazants

111 ntlil~llor~ to propel tnangc inc~~l of stock, tlie shops should be fulnlsbed

~ v l t h olodeln locks and colouiful showcases It is what 1s osually done by

111 ivak t l adc~s , Of course, investlnent is the first co11sldclaL1on However, the

srrpct. l)azans slloIj[d mobilize the requr~td funds to ]nett all sllch nddlt~oll~l

expellt l~[u~c l o keep tllc shop alhaclrve, wheh u sure to Pay dividends

I Ilc hllc\ lrc~\(lllrlcl jhoaltl be corii teous towa~ds tlle consuiners and attend to

tllc~lr 111ollll)Lly nll(1 ll(1lltcly '['lie lritclest of co~lsuiners m tile supel bazaar

I I I I I I I I ~ ~ ~le])clld+ li~lI1ll ~ I O W t l l ~ [lelronne~ 111 the sllop heat lhern Tlielefole +Ile

+ ; I I C ~ ~ J ~ I \ ~ I I I I I ~ ~ \I~olll(l Ilc 11:nnetl p ~ o p e ~ l y 011 modetn business l~nes in tllis

1cgai11, lllc t~~l l l l l~ lg prOgli111llllc5 conducted by coopelahve lnstih~tlor~s urlder

tile , N I S ~ I I L ~ \ ol tllc Ni~l~ollal Coi~petatlve UIIIOI~ of Iildia (NCUI) are wort11

I I I C I I I I O I I I I I ~ I'IIc $IIIICI IIII/IIIII\ ctiii gct ilsslstalice fioln the Goverrlment fol

r SOIIIC YII ] )CI bir~ilil~i iIIC localcrl III leinote atld inconveilrent places As aiesult

llrcy 11111 1 0 i c ~ v c lllc puil)o$c ~ O I wllich ll~ey aic ~ttterlded Therefole they

\11i)11l(l I)c IIICIIIC(I III t l i ~ I I C I I I ~ of tile low11 and III l~laces whelc peoplc move

, I ~ I ~ I I ~ lo1 l l r c ~ ~ ~lcetls It 1s colnluoll expellence that people go to places wlieie

; I I I 1lcr11s ~crlltr~ctl 11y tllet~l rue f o u ~ ~ d , and w111cl1 ale located m collvenlent and

: I C L C \ \ I I I I C I I ~ B C C S NO COIISIIIIICI go to a coopelntive sl~pci bazaals whlcl~ IS

lociilc(l I I I ;I w~nolc oi fill on' place Hence, ~t 1s desi~nble to locate supel

O;I/.IIIIIS I I I ~ ~ I I V C I I I C I I ~ places ptefelably 111 the fiist floo~s of buildings Of

cou~sc, ihcy can be located 111 multl-stored buildmgs if they have the l t f l

f i l c~ l~ ty Wflclcver h e y ate located ttrey have to be wthlll the reach of

COilStllllClS

2. I t IS obce~ved tlur~ng tlie study thtt tllere are many pr~vnte super bazaars,

wlllcll ale lllaklng very goo(! p~ofits and ntnnlng 011 most successfil ]mess

w h e ~ c a s cooperative super bazna~s are elther rumung on losses or minimal

~ " o l i l I Ilcl(:folc 11 I., \ l l ~ g ~ \ l c d 111,lt ttlelc shoulti be plopel plmlIlg of ole

,II~ICI II~I/:I~II\ l ~ ~ i d [IICII ~ ~ I R C I I'IYucI kecp~l~g 111 view tile exlst,ng dnnand and

~ ~ ~ ~ u ~ ~ c l l l l ~ l l l ~111111 I ~ I I V I I I C [ l ~ l d ~ l \ '1'11~ vely pulpose of starting coopaatlve

\ I I ~ C I II~I/.I~III 111 0111 LOIIIIIIY I!, to nuke tliclll offer keen compehtlon to

IN IV,IIC ic.~dc~'. 111 OI~ICI 10 LIICL~ [lie ~nalp~ncllces pacticed by 1111sc1upulo~~~

111 IV~IIC II,I~LI \. 411 111~11 I~IC III~(: IC\I+ ill collslllltels ibre plotected nt~d served

r 111 lllr i.onlr.il 0 1 [ : l ~ I i ; ~ l ~ s ; ~ t ~ o ~ i 11 lot of cllangea ]lave been made the consume1

flotur b l i ~ l t t ~ ~ ; ~ l ~ o n ; i l Lonlp;illlcs ;ale entellng III to trade in essential f ~ o d

IICIII.,, I:I(ILCI IPI, i l ~ i l l l s IIII~ OIIICI ~elillcil icilllllelnents of consumels eve11 111

IIICI~IIIIII \IIC~ III\VII\. IVIIII ;I InI 01 I!lvestment and antacllon Tfie coopelnllve

1 1 1 1 1 ~ II,I/,I;III II;I~C 111tr1 IIIV~~III~~L;III~C betc~ie tlle~n for wallt of tesoulces

r I0 \IILLCC~ 111 LOIISIIIIICI IIII';IIICSY, comlr~tment, determlnatlon, competitlve

1111111 ,III~ ~CYOIIOII ~IIC ICI~IIIIC~ 111 tliose who lire l~~volved tn i t These are

I I I~~I I I~ III ~lrc ~ I I C ~ ~ I I L ',i~ilclulc ot supel bazaars in Alldhrii P~adesll and in

I I I 11 I+ r i t111c llectl to llnprove the competitlve spirlt, busmess

LICIII~ICII. E~~~CICIICY, tillcrlt iltld I)roper pl~ulln! to boost up the sales and

I I I ~ ~ I C ~ ~ of 's~~l)cr ba~iiars

'I'lle salts ~ ~ c ~ s t r t ~ n e l workllig III cool~elatlve supel bazaats should fee l a sense

of' beloog~n@ers, wlllcli is very essential m a cooperative movement The11

sllccess ]argcly clepentls upon it They also should work with sense of

conun~tlncnt and detllcnhon to promote the success of the11 units T l l c ~ must

constantly bear ill nund that they serve a good and altruishc CaIIses dlts

I C ; I 1 1 1 1 1 1 l l t ~ l ~ ~ l l l i l I I I I C Fmthe~ tllc conceptof Human Resoulce

~ ) c v c l o l i i l i ~ ~ ~ l II;I\ to be ttlkca t c~~ol i s ly ru~d plalu~ed fol enrrchlng tilerr

Itoorvlcrl~c on 111oclc111 Iincf

r 111 o~clcl 10 i l l : l l ~ ~ t i ~ ~ ~ l ~ C I I I ~ I L I I I L ~ 111 Y I I ~ I ~ I bazai~ts elections to dlffelent elected

Iiodlci 111 tllc iul~ci I I~/ , I I I I \ \1111111d be coiltluctetl ~eg~llally So that electeci

I I I C I I I ~ I C I \ I C I I I I I LO ~ I I I V L : ([I IIC ~lfictciit and those who gel elected afiesll wlll

le<l~n 11r1w lo er111t111ct tl~cr~~scivcs cfficrently Regiilar democrat~c elect~ons

n ~ t r i ~ l ~ l L I C I I ~ C 111 I I I ~ I I I ~ ) C I ~ boll1 tl~telcst i111d II sense of responslbll~ty towaids

COIISIIIIICI L~I[I I )CII I I IVC ~ I I I I C I 11ali1,11$, and tl~ert develop~nent

r I 1 w.15 i l l ~ l l IIOIILCCI ~ I U I I I I ~ l l ~ e ~Illdy that 111ost of the sntnple supel bazaus

w c ~ c 1101 ic j i~~l i~r ly t~~i(l~tiiig tllct~ accou~lts I'lopei atid tlinely audlting of

acLcuirtr wul~lcl p ~ o v ~ ~ i c ~ I ~ ~ I I I I I I I ~ I I ~ I I to assess the perfolmnnce 111 drffeleut

tl~incntlons In I ; I ~ I sucl~ ;~sacss~~leill wodd fncll~tnte tlie super bazaars to plan

1111 I I I I U I C dcvclop~nent As ihesc Super bmaius are ~ireyl i l r in gemtlg the11

;Iccclolll\ ,~i~dltetl, tllcy ale III tlo~k~less regardrag the11 financ~al petfo~mnnce

I I IS very ln l l~or t~u~l that tile soc~et~es get theu accounts regula~ly aud~ted

Ally soclcty, whrcl~ 11ns islletl to finel~se the accounts every year, should be

[)ciinl~sctl.

2. is t~lso suggested to colnputellze the bllllt~g system m the coopelatlve supe

bnznnls as 111 private sbops, which glves perfect recording of accounts and

ell~ninntes inalpmctices, and also saves a lot of time and manuer labour

i II I S Y(.I\, I I ~ I I ~ C I C I I I V ( : 11) IIY IC\O(III$IIIIII~ICS rill t l~e sales pelsonlle[ relabng to

I I I I 1 1 I1 15 ;~dv~sct l to fix target olIeIltetl lncentlves to

C~ILI~~II~IJ 'C tlir \:IIP\ IICI\OIIIIC~ to L'XCI~ tl~c~liselves e r i t h ~ s ~ a s t ~ c ~ j l ~ for the

Iictlv1111r111 111 thv LIIIIJII~I~~IIVC \IIIICI II;ITR~IIS

r I l icrc \ l io i i l ( l l i c .I ICJ:III,II iillil ~ c l r r r d ~ ~ i i l V~II~~C~I~IOII of the stocks l'Ills

IN,IC~IC r 1,11:1iiir.5 thc i l l l ~ k ]1~191i1111~~ ti1 k l i o ~ v the stock posibon, its rnovcrnei~l

{t i i t i rciliiilctlic.llt I1 IICI~I\ llicro to icicntlfy fast end slow m o v ~ s g rtefns,

~ l l c i c l ~ y . , l r i l l (IcLI(~L. to II~II~I~III~U ~IIC slow 1noYitlg items, 8114 to cleai 1111sold

r A l l t l lc l1111,c Iocld i lcl i ir n r ld III tlie su]lc~ bazaals should be 11ackcd nrtd

iv;i lct l n'1tl1 1r101iu I i i I ~ : l l ~ag A\ coitsumeis prefcl to bity atl lnct~vely pte-

I';ILL~II OII~I~IICI\, coc l~c~s l i ve wpe l bazaa15 too sliould adopt tills system.

;Is.;rlllill: :it 1111: \,~IIIC ~IIIIC, Co~leCl welgl1111e11t altd qual~ty A l l the tequlled

t l ~ : t ~ i ~ l i ;llrtic~t 111c p i ~ i t l l ~ c t shooltl be tllspleyetl correctly on the label for the

I l c l l c i i l o l c l l l lwl l le ls

r l Ilc (iovc1111,lcnt s l iot~l t l arr;lilge f o ~ the pu~chase of stillroi~ery anti otller

1lc111s ~ c c l t l ~ l e t l by 119 vartoIIs tleprrrtments, f i o ~ n fire coopernfive supel bazam.

'I'hrs g l v c ~ I K J ~ ~ ~ lnojnl arrd ina~c i la l boost to them and strengthen and sustalrls

Ihc i r ~ n l c s vnlun~o

7 ' rhc very purpose of a consuarcr cooperative is to serve the aveiage consumer

by providin8 1tcms of (IURII~Y at reasonable price i t is expected to supply

uiladuliel:lted foot1 items nccolrling to c o r i ~ c t quult l ly and welgllt

I I L ' I I V flII)CI b:l/;l:ll\ i l l C C X ~ I C L ~ C ~ ti1 b l ~ y productS 111 bulk from

l ~ ~ i ~ i ~ ~ ~ l l l I I 1 I 0 1 To Ct~lllfiI the11 objectlves and

~r1111(:,1111111'1 10 L(lll'llllllL'I1. I i l e ~ I I C C i I ail tile fads rerl~r~red It 1s wllli to

I~II,III(.III~ I ( . I ~ I I I L C I I1I!I\I L 0 l I I ) C l i ~ l l ~ ~ Sllllel baz881s ale sevelely liimdlc.apped

~IIII<:\\ lllclr I l~o$c la $Ilci~gthelletl they calmat serve the people

+II~I+I,ILIIIIII~ IIICY IC~JIIIIC ~)I[I~ICI WOI~III~ rulitls, wlilch IS the secret of

\IILL~J\ 01 ,IIIY II~I~IIII!Y\ ~ ~ i g i t ~ i l / i l t ~ t l ~ i i'iieiefore they must have a sound

JJ~~III 1111 IUIII~~ irtiil I I I ~ I I I ~~C ll1e111 wller~ ol~ti~lned wltll ut~nost cue ruld

L L ! : I I ~ I : ~ I i l ; i ~ l o y f'lic$e societies ~lroirld adopt asclent~fic spp~oacl~ to

I l~cr i I~ l l \ r r r rv ,II,(IYIIIUI i15 well ;IS nlnllaging fhen scale fi~lanc~ai resouices

I'r~ltlct~c I I I I o C thcii wo~krng ca111tai certamly Implove Ulet

IICI~IIIIII~~IICC, llces 111cti1 tru111 l l ~e vrc~oas circles of serious financ~ill pioblems,

atltl 11clps lllclrl to illlprove Ihelr ptof i t~bl l~ty and I I ~ U I ~ I ~ Iiltlmately the

I~II~KISC, ((11 w l l l ~ l l t l~cy tire sta~kctl, I e rendellllg sernces to the consumels,

,voc~ld i l l~o ~ l ~ ~ l r l c t j t l y selved To repent, efficient managemellt of wolklng

cap1t;ll is tllc llani,ccfi .- tile cu~e-ali.fol all the problems menacing the

/I 5CL.1115 III'LC~IIIIY 111 dlld I/ltlI t i le LoIlSlllnel, wllo IS expected to derive the

l ~ c t t c l i l j ill LOIIIIIIIICI L l ~ - ~ ~ I l C l d l I v ~ ~OCICIICS a11d bdzaats, also has ~ ~ ~ n p ~ f i ~ ~ t

~ t l l c 111 11l~tv 111 5115111111 l l l ~ s ~ . III'~~I~~I~IOIIY a l ld help them to Implove tIiell

C I I I I I I ~ I I I I lllil~~lil 111 o ~ l l l g 11 I11155tVC obse l~e l a~hwlng t111np.s to dilft 01

c\llccrtrlja IIIIILI* (111~ I:O~~(.~IIIIIL.II~ c ~ ~ ~ ( l t l ~ e ipclso~~ael o f the supel banlais etc) to

IIICIII~ 111~1IItt\. IIC Ild5 LII IIIISCII 11~1 c ~ ~ l l v ~ IIILCICS~ 111 the collsitlnel inovelnent mid

CIILO~IIII~:~: ,I\ III~IL~I i15 1111<'11111e ~IIC co011c1at1ve super bazaars to do well and

I I I IC~~I I I I I I I IL I I c 5ho1t111 1101 illlow llllnself to be lu~ed away by the

ICIII~IIIII~: 111111 LICLCII~IV~ 11 I L ~ Y ~ I I I ~ OIICIS 111 the pllvate i ladels and supel 111n~kets

WIIILII ,IIC 1101~ III~I\~IIIIIIIIIIII~ CVCI~LVIICIC I h e collsumel must shake 1111nself

IICC (11 111c II;IIIII (11 11cl11g ;I tr lu~c o~ i ioo i te~ a l t l v~ctlin, to w l ~ ~ c h he has been

LOI~C~IIIIIIIC(~ 11y CIILIIIII<~;IIICCI 1111 aye5