Synopsis II Revan Hanji

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<ul><li><p>8/14/2019 Synopsis II Revan Hanji</p><p> 1/4</p><p>Bangalore Institute ofManagement Studies</p><p>INTRODUCTION:Inventory Management is the planning, control, organizing and leading the</p><p>goods and materials required by thebusiness. Inventory Management is veryimportant for the business. It enables the business to meet or exceed expectations</p><p>of the customer by making the product readily available. If managed properly, it</p><p>can help the organization reduce its costs, achieve economies of scale and prepares</p><p>the organization for uncertainty.</p><p>Inventory management is primarily about specifying the size and placement</p><p>of stocked goods. Inventory management is required at different locations within a</p><p>facility or within multiple locations of a supply network to protect the regular and</p><p>planned course of production against the random disturbance of running out of</p><p>materials or goods. The scope of inventory management also concerns the fine</p><p>lines between replenishment lead time, carrying costs of inventory, asset</p><p>management, inventory forecasting, inventory valuation, inventory visibility,</p><p>future inventory price forecasting, physical inventory, available physical space for</p><p>inventory, quality management, replenishment, returns and defective goods and</p><p>demand forecasting.</p><p>COMPANY: BHARAT ELECTRONICS LIMITED (BEL)</p><p>[Type text] Page 1</p>http://www.blurtit.com/q143178.htmlhttp://www.blurtit.com/q143178.html</li><li><p>8/14/2019 Synopsis II Revan Hanji</p><p> 2/4</p><p>Bangalore Institute ofManagement Studies</p><p>REVIEW OF THE COMPANY:</p><p>Bharat Electronics Limited (BEL) was set up at Bangalore, India, by the</p><p>Government of India under the Ministry of Defence in 1954 to meet the specialized</p><p>electronic needs of the Indian defence services. Over the years, it has grown into a</p><p>multi-product, multi-technology, multi-unit company serving the needs of</p><p>customers in diverse fields in India and abroad. BEL is among an elite group of</p><p>public sector undertakings which have been conferred the Navratna status by the</p><p>Government of India.</p><p>BEL has its corporate office at Bangalore and manufacturing units at</p><p>nine locations in India. A network of marketing and customer support centers</p><p>across India completes the vertically integrated company profile. Two offices, one</p><p>in New York and the other in Singapore mark the companys current international</p><p>presence. Defence continues to be BELs prime focus but the Company has also</p><p>diversified into civilian areas. Some of the successful civilian products include the</p><p>Electronic Voting Machines, Solar Powered LED-Based Traffic Signal Lights,</p><p>Simputers and Set Top Boxes.</p><p>BEL offers products and services in a wide spectrum of technology like</p><p>Radars, Military Communications, Naval Systems, Electronic Warfare Systems,</p><p>Telecommunications, Sound and Vision Broadcasting, Opto-Electronics, Tank</p><p>Electronics, Solar Photovoltaic Systems, Embedded Software and Electronic</p><p>Components. The company also claims to provide turnkey systems solutions. BEL</p><p>offers contract-manufacturing services for both domestic and international</p><p>customers. It has automated assembly, inspection and testing facilities as also</p><p>precision machining capabilities.</p><p>NEED FOR STUDY:</p><p>[Type text] Page 2</p></li><li><p>8/14/2019 Synopsis II Revan Hanji</p><p> 3/4</p><p>Bangalore Institute ofManagement Studies</p><p>Inventory management is a very simple concept - don't have too much stock</p><p>and don't have too little. Since there can be substantial costs involved in straying</p><p>above and below the optimal range, careful inventory management can make a</p><p>huge difference in the profitability of a business. Although the concept is simple,</p><p>the process of getting the right balance can be quite a complex and time consuming</p><p>task without the right technology.</p><p> Time - The time lags present in the supply chain, from supplier to user at</p><p>every stage, requires that you maintain certain amount of inventory to use in</p><p>this "lead time"</p><p> Uncertainty - Inventories are maintained as buffers to meet uncertainties in</p><p>demand, supply and movements of goods.</p><p> Economies of scale - Ideal condition of "one unit at a time at a place where</p><p>user needs it, when he needs it" principle tends to incur lots of costs in terms</p><p>of logistics. So bulk buying, movement and storing brings in economies of</p><p>scale, thus inventory.</p><p>OBJECTIVES OF THE STUDY:</p><p> To ensure that the supply of raw material &amp; finished goods will remain</p><p>continuous so that production process is not halted and demands of</p><p>customers are duly met.</p><p> To maintain inventory at appropriate level so that it is neither excessive</p><p>nor short of requirement.</p><p> To keep inventory at sufficiently high level to perform production and</p><p>sales activities smoothly.</p><p> To minimize investment in inventory at minimum level to maximize</p><p>profitability.</p><p> To minimize carrying cost &amp; ordering costs of inventory. To keep investment in inventory at optimum level.</p><p>[Type text] Page 3</p></li><li><p>8/14/2019 Synopsis II Revan Hanji</p><p> 4/4</p><p>Bangalore Institute ofManagement Studies</p><p> To reduce the losses of theft, obsolescence &amp; wastage etc. To make arrangement for sale of slow moving items.</p><p>METHODOLOGY:</p><p> Type of researchThe research is of descriptive type.</p><p>SOURCES OF DATA</p><p> Primary Data:</p><p> Continuous interaction with the staff of Bharat ElectronicsLimited.</p><p> Through organizational accounting systems. Departmental information.</p><p>Secondary Data: www.google.com</p><p> www.bel-india.com</p><p> Annual Reports, Magazines &amp; News Papers</p><p>LIMITATIONS OF STUDY:</p><p>Though sincere effort has been made during the study, certain limitations</p><p>cannot be avoided. They are as follows:-</p><p> Difference in definitions</p><p> All datas are according to accounting practice of the organization</p><p> This practice in some cases may lead to window dressing to cover up bad</p><p>financial position.</p><p> This study is based 5 year accounting relating to the concept</p><p> Tools used for analysis are limited</p><p> The study is purely academic purpose.</p><p>(Signature of Student) (Signature of Guide)</p><p>Revanasiddeshwara Hanji Geetha.C</p><p>[Type text] Page 4</p>http://www.google.com/http://www.bel-india.com/http://www.google.com/http://www.bel-india.com/</li></ul>

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