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INTRODUCTION TO BRASS

Brass is usually the first-choice material for many of the components for equipment made in the general, electrical and all precision engineering industries. The word "brass" covers a wide range of copper-zinc alloys with differing combinations of properties, including

Strength Hardness Conductivity Wear resistance Color Corrosion resistance Recyclability

INTRODUCTION TO BRASS CITY

Jamnagar is known as BRASS CITY. The Brass Industry has been started in Jamnagar more than 75years ago. It caters more than 60% of the population of Jamnagar for their livelihood and employment. In Jamnagar there is more than 2500 small and medium units engaged in this line of business. At least 500 containers per month of Brass have been imported from the overseas and nearly 100 containers per month are exported of finished goods. Thus, it earns hand-some foreign exchange for the Government and also there is ample foreign exchange transactions business for the bank from import and export. At present there are more than 45 Export Oriented Unit (EOU) working in the brass industries and thus there are ample scope for the bank to have forex business. The brass industries has been catering to various industries of the country like brass building hardware, brass electrical accessories, LPG valves, automobiles, electronics, aeronautic, aerospace, sanitary fittings and many other industries.

INTRODUCTION

Now a day, it is going on the way of modernization. In every type of product the importance of brass product is very well demanded. In earlier, first a product is prepared on brass furnace, but now in modern days it is prepared in an Extrusion. Brass components engaged in industries like, Engineering, Electrical and Electronics, Automobiles, Building Hardware, Sanitary ware etc.

INDUSTRIAL COMPONENTS,established in 1970, is a leading group of Industry manufacturing a vast range of brass products used in electrical, hardware and electronics fields. Some of the products we manufacture include brass sanitary fittings, cable glands, brass electrical wiring accessories, electric and electronic components, brass auto parts, geyser parts, hardware parts, switch gear parts, hot forging and cold forging conforming to the accepted international standards.

Its entire manufacturing activity (i.e. right from the melting of raw material in the form of imported brass scrap to the finished product) is carried out under "one roof" under the constant supervision of our able technical staff.

NAME AND ADDRESS OF THE COMPANY

Name Location

:INDUSTRIAL COMPONENTS, :INDUSTRIAL COMPONENTS, Sp. Shed 6/2, GIDC, Shanker Tekri, Jamnagar-361004. India.

Registered office

:INDUSTRIAL COMPONENTS, Sp. Shed 6/2, GIDC, Shanker Tekri, Jamnagar-361004. India.

Phone Number

: Off.: +91(0)2882560245 Fax: +91(0)2882560449

E-mail

: info@industrialcomponent.in

Website

:www.industrialcomponent.in

Year of Establishment: 1970

HISTORY & DEVELOPMENT


INDUSTRIAL COMPONENTS import raw material i.e. Brass/Copper Scrap from abroad to manufacture brass sanitary fittings, cable gland, brass electrical wiring accessories, electric and electronic components, brass auto parts, geyser parts, hardware parts, switch gear parts, hot forging and cold forging conforming to the accepted international standards. Every effort is taken to ensure the uniform quality of the finished products. This is the reason why quality conscious buyers give preference to our products.

In 1970, INDUSTRIAL COMPONENTS was formed as proprietorship firm to produce and supply a vast range of Brass Products used in electrical, hardware and other fields. With the passage of time, INDUSTRIAL COMPONENTS grown up as leading manufacturer and supplier of Brass Products in India.

INDUSTRIAL COMPONENTS was incorporated in 1970 and started its production activities as full fledged unit with entire manufacturing activity (i.e. right from the melting of raw material in the form of imported Brass/Copper Scrap to the finished product) is carried out under "one roof" under the constant supervision of able technical staff.

INDUSTRIAL COMPONENTS, exports the above products under its own brand name acknowledged to be synonymous with unmatched quality and excellent customer service, at competitive prices, a tradition of the group and a strategy for the future. They are also equipped to manufacture brass precision components as per customer drawings according to the given specifications.

SIZE AND FORM OF THE COMPANY

SIZE OF THE UNIT:

The business organization may be small size or medium size or large size. Size of industrial unit can be fixed on the basis of workers, capital investment, quality of production, sales turnover. Generally size of industry is fixed on the basis of investment in machinery.

According to Govt. of India If the Capital invested by the company is less than 3 crores it is known as SMALL SCALE INDUSTRY and if the capital invested by the company is between 3 to 5 crores it is known as MEDIUM SCALE INDUSTRY and if the Capital invested is more than 5 crores it is known as LARGE SCALE INDUSTRY.

FORM OF THE UNIT:

There are many forms of organizations varying from sole proprietorship, private limited company, public limited company, joint sector, co-operative societies etc. INDUSTRIAL COMPONENTS is a Private Limited company.

The authorized share capital of the INDUSTRIAL COMPONENTSis worth Rs. 50 lacks and its Issued share capital is worth RS. 20,00,000. and Manpower engaged by the company is 60 employee include both administrative and production.Investment in INDUSTRIAL COMPONENTS are less than 3 crores, so we can say that the INDUSTRIAL COMPONENTS comes under small scale industries.

LOCATION
When a new industrial unit is to be established, the most important decision is to be made by an entrepreneur. This decision relates to select the site at which manufacturing unit is to be located. The process of locating any firm in a particular industry is called industrial location.

Location means selection of place for establishment of industry where the cost of production is the lowest at the time of establishment.

Some points are there which should be taken into consideration while selecting the location of the unit is as follows:

Availability of Raw Materials, Availability of Labour, Transportation, Finance, Availability of Power Sources, Site and Services, Latest Technology, Near to the Sea Port.

ORGANISATIONAL STRUCTURE

M.D. (MR. HARSHAD L. BHANUSHALI)

Production dept. (Mr. Prakash L. Bhanushali)

HR dept. (Mr. Anil L. Bhanushali)

Marketing dept. (Mr. Sumesh S. Bhanushali)

Finance dept. (Mr.ShaileshKhatr i)

PROMOTERS AND MANAGEMENT BODY

Person who has the idea to establish company, those who make the prepreparations for it and take personal responsibility for it are called Promoters, brings a company into existence on their own imagination the founders find out new business opportunities, examine their feasibility and it found practical, they establish a company through proper co-ordination of the required Capital, Materials and Manpower.

Mr. L.V.Bhanushali having superb knowledge, skill and experience of brass products and S.V.Bhanushali are the promoters of INDUSTRIAL COMPONENTS

List of Directors of INDUSTRIAL COMPONENTS

1. 2. 3.

Mr. HarshadBhanushali Mr. SumeshBhanushali Mr. PrakashBhanushali

TIME KEEPING SYSTEM

Man can work for some limited time; he cannot work for 24 hrs. But industries are running round the clock. So there are some adjustments made between the workers which are known as Shifts.

The Assistant of Personnel Department maintains the record of attendance on the daily basis. These details of daily attendance are recorded in a register which is sent to the executive director on a regular basis for verification.

INDUSTRIAL COMPONENTS has its own time keeping system. Time keeping system is a relevant data maintained by all manufacturing units to measure the man-hours put by its employees. It is also used worker to know his outputs.

For knowing the appropriate time of the arrival & departure of the personnel, INDUSTRIAL COMPONENTS used to keep a note. The note represents the date, name & exact time of the personnel along with the signature of personnel.

Normally there are Two shifts in INDUSTRIAL COMPONENTS :

Table 5: First shift Second Shift 8:00 A.M. to 6:00 P.M. 10:00 P.M. to 6:00 A.M.

GLOBAL CERTIFICATION
To fulfill the motto of creating satisfied customers, INDUSTRIAL COMPONENTS is entitled to manufacture and supply the best quality products worldwide.

One of major products of INDUSTRIAL COMPONENTS, Terminal Block, has been certified by Underwriters Laboratories Inc., USA under the category of Panel Board Fittings vides File No.KDER.E219671.

Besides, above we have also received for ISO 9001:2000 Certification for backing up our other products by international standards to ensure best quality with uniformity.

INTRODUCTION
The production of a firm is concerned with the creation of a product or services required to satisfy customer needs. In any business, suppliers are required for product or service; it is obvious that activities of production system must relate to the customer demand or continuous flow of order.

It is the most important department amongst the other departments of an organization. Personnel department, finance department, marketing department are very much depended on production department.

Production function is an important function in all the industrial or manufacturing enterprises. Most of the other activities in these enterprises revolve around this function. Therefore, it is essential that production department is managed properly so that it may contribute effectively to the objectives of the enterprise.

Production means The conversion of raw materials into finished products with the help of certain processes. INDUSTRIAL COMPONENTS is a leading player in all its key business of manufacturing brass products.

ORGANISATION OF PRODUCTION DEPARTMENT

Production Manager

Quality Control Manager

Production Supervisor

Level-1 Labour

Level-2 Labour

Chart No. 2: Managerial hierarchy of

The Production Department.

BRIEF PRODUCT RANGE

Panel Board Fittings Neutral Links Terminal Blocks Earthing Blocks

Conductor Fixing

Cable Glands

Conduit Fittings

Gland Accessories

Other

Tape Clips

P.G.Glands

Connectors & Adaptors

P.V.C.Shrouds

Spilt Bolt

DC Tape Clips Square Type Clamps Plate Type Test Clamps

E1 W Glands

Male Female Bushes

Earth Tags

Brass Rods

T.R.S.Glands

Lock Nuts

sanitary fittings

Alco Glands

Brass Fastners

Oblong Test A2 Type Clamps Glands Cable Glands Kit Pack

Table No. 1: Production Range

PRODUCTION PROCESS

It is fact that for the manufacturing of successive products, proper production department and accurate with economic, production process is essential.

Brass Scrap

Sorting of Impurities in the Scrap Material

Melting of Scrap in Furnace

Rods Making

Turning

Cutting

Final Rods as per Required Sizes

Drawing

Inspection Threading

Plating (if required)

Inspection & Packing

Chart No. 3: Production Process Chart

BRASS SCRAP

In a INDUSTRIAL COMPONENTS the raw- material are imported from the European countries and United Kingdom. Sorting and segregation is done for clean/ pure brass rest of mixed metals is broken.

Raw Material

Various raw materials used in the production systemof INDUSTRIAL COMPONENTSare as under: Copper Scrap Brass Scrap Copper Scrap Brich Zinc Lead Waste & Scrap of discard

SORTING THE RAW METERIAL

Sorting the Raw material

Sorting and segregation is done for clean/ pure brass rest of mixed metals is broken. First of all sorting and segregation is done in raw materials for clear Brass scrap. In Figure no. 4, workers are busy in sorting the raw material.

MELTING PROCESS

Furnace

There are four furnaces in the company. Raw material poured in foundry for molting. In this stage, the tank of oven is half filled and heated till it becomes radish color. As per the required temperature, it is heated and mixed well.

DRAWING It is to get the actual size, final dimensions and final finish. It is passes through Dyes of CARBIDE as are of long lasting life. Drawing compound Draw mat is used to keep rod and dye cool. Here scrapping is not done but drawing pressing is done.

CUTTING After that rods are cut according to the size of the item.

Then different types of operations are made to make specific item.

INSPECTION & PACKING

It is done for final dimension checking. Inspection report is made. It is weighted and then it is ready for dispatch. Each and every bundle has a tag. Where size, weight, pieces and bundles are mentioned.

PRODUCTS OF THE COMPANY

1. PANEL BOARD FITTINGS

1) NEUTRAL LINKS

2) TERMINAL BLOCKS

3) EARTHING BLOCK

2.CONDUCTOR FIXING

1) TAPE CLIP

2) SQUARE CLAMP

3) ONLONG CLAMP

3.BRASS CABLE GLANDS

4. BRASS GLAND ACCESSORIES AND ELECTRICAL FITTINGS

Brass Cable Glands suitable for SWA, Plastic or rubber sheathed cables. Used in Indoor applications. These all are suitable for use in Gas, Oil and Chemical processing plants. These Glands are used for Mineral Gland applications.

5. OTHER ITEMS

1) SPLIT BOLT

2) SANITARY FITTINGS

3) BRASS FASTNERS

QUALITY

POLICY

They, at INDUSTRIAL COMPONENTScommits themselves for supplying Services & Products that would give complete satisfaction to their customers.

They will strive to achieve growth and leading position in the market by: Supplying consistent quality & Timely delivery of Service & Products to their valued customers.

Complying requirements and continually improve the effectiveness of quality management system. Creating an environment of teamwork.

LIST OF MACHINERIES

PRODUCTION DEPARTMENT DRAWBENCH AUTOMATIC MACHINES MANUAL MACHINES DRILLING MACHINES THREADING MACHINES GRINDERS PACKING MACHINE - 3 - 12 - 22 - 8 - 10 - 3 - 3

Table No. 2: List of Machineries

INTRODUCTION
Personnel management is the direction and co-ordination of human relations in the business organization. Its main objective is maximum output with the minimum use of physical and mental effort of labor force.

In the words of American society of Personnel Administration, Personnel Management is an art of acquiring, developing and maintaining the competent work force in such a manner as to accomplish with maximum efficiency and economy the functions and objectives of the organization.

Any organization needs basically six inputs to run the organization smoothly. They are man, money, machine, market, material and method. Out put of this human resources are the most important inputs.

They differ from other inputs like feelings, emotion, and sense of job satisfaction, motivation etc. The personnel function can be broadly defined as Management of people at work.

ORGANISATION OF PERSONNEL DEPARTMENT


Personnel department has a very important role in any organization any case of INDUSTRIAL COMPONENTS in order to solve the personnel efficiently and in a responsible manner, In a small scale company with a work force about 250 in all units it is important to have a personnel looks after the industrial relation, circulation, Human resources, Development and staff welfare function etc. they also attend to all legal matters related to labor, industrial dispute.

In INDUSTRIAL COMPONENTS, the Personnel Department is very effective. It looks after the needs and desires of every employee. It believes that a satisfied worker is an asset of the company.

In INDUSTRIAL COMPONENTS has computerized attendance system for all executives and non-executives staff employer, joining the branch has to give medical fitness certificate.

PERSONNEL MANAGER
(Director)

Department Managers

Supervisors

Workers

Chart No. 4: Org. of Personnel Department

RECRUITMENT POLICY
It is essential that the right man should be recruited for the right place at the right time in right time. The best recruitment procedure is good for the development of the organization. A proper employee is selected through proper and good recruitment policy, so that employees, organization and the country are benefited. Recruitment is the process of searching for prospective employees and stimulating them to apply for the jobs in the organization.

INDUSTRIAL COMPONENTS gives importance on two aspects: the first is to find out the number of vacancies to be notified and the type of applicants needed to fill them; the second is to appeal to potential applicants through novel advertising, to apply for such vacancies.

Information Flow

Organization need for high quality employees

Internal Applicants

Potential applicants need for suitable job

Environment: Economic & Social, Technological & Political

Chart No.5: Recruitment: Matching the Needs Of Applicants & Organization

SELECTION

Selection is a deliberate effort of the organization to select a fixed number of personnel from a large number of applicants.

After applications of required number of employees are secured trough different methods of recruitment, Selection, process begins. The main purpose of Selection procedure is to find the right man for each job. The efficiency and profitability of the concern depends mainly on proper selection of the personnel.

Selection is much more than just choosing the best candidate. It is an attempt to strike a happy balance between what the applicant can and wants to do and what the organization requires.

Selection is the process of pickling individuals who have relevant qualifications to fill jobs in an organization

INDUSTRIAL COMPONENTS, First of all they invite the applications of required qualifications for the required post. Then the educational background of the candidates is checked out. Whether he or she is fit for the job or not. Then the next step is to take the interview of the candidates those who have applied for the job. At last, after getting the referral of the past employers of the candidates they are exposed to the medical treatment and induct to the place for which they have been best selected.

INDUCTION

Induction is the process of introducing a person to the job and the organization

After recruitment and selection of the employees for the right job, the next very important function of the human resource department is to provide necessary information regarding the working conditions of the company to the newly appointed employees. This will reduce the feeling of not being recognized by the company amongst the employees.

In short, induction is a technique by which a new employee is rehabilitated in to the change surrounding and introduced to the practices, policies and purposes of the organization.

In INDUSTRIAL COMPONENTS the technique to introduce a new employee will always increase if he is also given some good introduction. So when a newcomer comes he is introduced to each and every fellow employee of his job to become familiar with his job and designation.

In INDUSTRIAL COMPONENTS some of the Induction is Organizational Policy, Working Method, Discipline, and Information about supervisor and subordinate.

JOB DESCRIPTION

Job description is a fictional definition of what the job entails. It is descriptive in nature and defines the purpose and scope of job. Job description is the organized and real prospectus of duties and responsibilities of any specific job. It is a broad statement of the purpose, scope, duties and responsibilities of a particular job. Therefore it is very descriptive in nature and contains a record of the appropriate and authorized job contents.

Job description is an important document, which is basically, descriptive in nature, attains a statement of job analysis. The description not an assessment but it provides in important bases for establishing description describes The job and not the job holder.

In INDUSTRIAL COMPONENTS job description is only for major level. This method is directly related with the job level management it provides standards and objective to establish. In INDUSTRIAL COMPONENTS return job description is not available.

PROMOTION & TRANSFER POLICY

PROMOTION

Promotion involves placement of an employee to a position having higher salary, increased responsibilities, more privileges, increased benefits and greater opportunities. Promotion is done on two bases.

Merit Seniority
In INDUSTRIAL COMPONENTS, promotion is given on basis of Merit / rank / Seniority.

TRANSFER

Transfer means shifting of an employee from one job to another, one unit to another or one shift to another and may involve a new geographical location. There are some reasons for the transfer of job.

To satisfy some needs. To utilize properly the service of an employee. To train employee in better advancement of promotion.

The methods which INDUSTRIAL COMPONENTS undertakes for transferring an employee are as follows:

1. 2. 3.

Temporary Transfer, Intra Department Transfer and Other

PERFORMANCE APPRAISAL SYSTEM

Performance appraisal is a systematic and objective way of evaluating both work related behavior and potential of employees.

Performance evaluation or performance appraisal is the process of assessing the performance and progress of an employee or of a group of employees on a given job and his potential for future development.

Performance Appraisal is a system evaluation of a works performance and potential for development. The over all objective of performance official duties is importance the efficiency of an enterprise by attempting to mobilize the best possible efforts from individual employed in it. The salary reviews, the development and training of individuals, planning, and job ration, each and every firm has its own method to evaluate this performance.

In INDUSTRIAL COMPONENTS they also measured the skill, ability, performance, important function of personnel management, which helps them to make important decision like training and development, promotion, transfer etc. In a company the head prepares performance of any candidates confidential report and it is presented to his highest authority. This report is managed to any candidate to transfer, promotion etc.

WAGE AND SALARY ADMINISTRATION

The structure of wage and salary refers to implementation of sound policies and practices of employee compensation. Wage & salary administration should be controlled by some proper policies.

Wage & salary is of great importance to the company as it is on the expenditure side on one hand and motivation and rewards on the other hand.

INDUSTRIAL COMPONENTS follows wage system as per governments low wage regulation act for its workers. In the company wages starts from Rs. 2000 and goes on according to the skills of employees. The bifurcation of wages and Salary for different categories of employees in the INDUSTRIAL COMPONENTS is as under.

If we highlight over to INDUSTRIAL COMPONENTS the wages are given on the basis of the government rule. The remunerations are also given to the board of directors.

GRIEVANCE HANDLING PROCEDURE

The term GRIEVANCE means Any discontent or dissatisfaction whether expressed or not and whether valid or not, arising out anything connected with the company that an employee thinks, believes or even feels is unfair, unjust or inequitable.

- MICHAEL J. JUCIUS

Grievance is a written complaint filled by an employee and claming unfair treatment. It may be also defined as a real or imagined feeling of personal injustice which an employee has concerning his employment relationship. In brief we can say that Grievance is dissatisfaction of employee due to injustice done to him in wages, salaries, leave etc.

INDUSTRIAL COMPONENTS has got its own procedure to handle Grievances. In INDUSTRIAL COMPONENTS there is no trade union. If any problems arise, the employees can solve their problems by conveying it directly to his supervisor. If the problem remains unsolved it is assigned to Personnel Officer.

WELFARE FACILITIES

Welfare Facilities are those facilities that are provided by the employers, government, trade unions to their employees. These are the facilities that works like motivation to the employees, they do not result in any extra benefits to them, but in absence of such facilities the employees will be dissatisfied and accordingly the productivity of the company also declines.

To win the faith of employees, INDUSTRIAL COMPONENTS has provided some welfare facilities to its employees, which are as follows:

MEDICAL FACILITIES:

The management board provided medical facilities to its employees. Company provides first aid treatment to its workers at the time of accident in the company.

UNIFORM FACILITY:

INDUSTRIAL COMPONENTS also provides uniform, glows to its employees, which are of cotton materials. None of the workers are seen without their uniform in the company arena.

INSURANCE FACILITY:

Company has taken the insurance of each of its workers. So, the worker will get some amount of compensation on any type of accident that may take place in the factory.

TRADE UNIONS

A trade union was first started in textile industry according to the trade union act of 1962. A trade union combination if persons either temporary or permanent for the purpose of regulating the relation between employee and workers or both workers and for imposing rest active condition.

In this modern area, the trade unions are playing a very significant role in the industrial world.

In INDUSTRIAL COMPONENTS, there is no trade union because there is a good relationship between employee and employees. Management and workers of company is as a friend and family member. If a worker has any type of problems regarding working administration department solves their problem. INDUSTRIAL COMPONENTS also helps the worker to give financial help. Therefore, in a INDUSTRIAL COMPONENTS there is no need for a trade union.

INDUSTRIAL RELATIONS

Progress, prosperity and happiness of people are being achieved in peace only. Similarly peace in industrial world is necessary for growth and enhancement. Good relations between workers and management are only one factor, which can establish peace in any industrial organization.

Government Rules, Awards, Policies


Employer Employees

INDUSTRIAL RELATION
Employers Association Trade Unions

Usages, customers, traditions within a country

Chart No. 6: Industrial Relation

INDUSTRIAL COMPONENTS has created a good relationship between the management and its employees. It also appreciates their work to improve their morale. INDUSTRIAL COMPONENTS has a good understanding between the management and workers to co-operate with each other, to maintain best industrial

relation and to avoid all possibilities of disputes. The company looks after their employees and provides all possible facilities, which satisfy them in all way.

INTRODUCTION
Marketing is social and managerial process through which individuals and groups obtain what they need and want through creating, offering and exchanging products of value.

Marketing activities are necessary for any type of product because it covers all the business activities necessary for ascertaining market demand planning, product availability and effective transfer of ownership of the product. Physical distribution and sales promotion are also involved in marketing.

Marketing is sum total of all business activities which deal with the movement of goods and services from producers to consumers in order to satisfy their needs. The required goods and services may include raw materials, semi finished goods, and finished goods as well as those services that are necessary to keep consumers using and enjoying them. Marketing in fact is concerned with the satisfaction of consumers wants and needs through markets at a profit.

So as far as INDUSTRIAL COMPONENTS is concerned it has separate Marketing department, which is handled by Senior Marketing manager. The company has direct contact with its customers in India and abroad also. Company does marketing mainly from Mumbai under the name Madhav Exports. Its export is 20% and domestic sells is 80%.

ORGANIZATION OF MARKETING DEPARTMENT

Management of marketing department should be very effective & efficient because setting activity is carried out here. An organization is a mechanism through which a managerial philosophy is translated into action. Selling is an important way of understanding the needs and nature of the customers, importing full information.

Marketing of this department is the key success as all the efforts of selling is done over here. The chief executive of industrial components handles all marketing programs to assist him there are marketing manager under whom works several marketing personnel.

Board of Director

Marketing Executive

Supervisors

Salesmen

Chart No. 7: Org. Of Marketing Department

PRODUCT DECISION
Product decision means planning for product i.e. to decide what type of product is to be produced and from whom the product is meant. If the existing product fails to draw the attention of the consumers, it should be either eliminated or must be improved as per the changing need of consumer.

Planning is looked ahead where we want to go and what obstacles we are likely to encounter in doing it. Product is the basic and important as success of the organization depends upon the successfulness of the product. Product is anything that is potentially valued by the group o customer for the benefits and satisfaction it provides.

Product is anything, which can satisfy human needs. In simple words product is anything through which consumer can perceives as having value in use called product. Product planning means deciding about the product, its features and its future look product line and modification of current product.

INDUSTRIAL COMPONENTS is a small unit and lays emphasis for product planning. The company considers following points for future product planning:

o o o

Past and Present demand Seasonal Demand Capacity of unit

MARKET SEGMENTATION
Marketing segmentation is the task of sub dividing a market into distinct subsets of customers where any subsets may conceivably be selected as market target to be reached with a distinct of marketing mix.

Company identifies different ways to Segment market & develops profit resulting, out of Market Segmentation. In other words, Market Segmentation refers to dividing the total market into different customer group based on geographic, demographic & psychographics characteristic.

INDUSTRIAL

COMPONENTS

has

identified

different

market

segmentation based on the use of their products. The products of the company can be used by different target market in the different ways. For instance,

Engineering Industry Electrical Industry Sanitary Parts Exports Forgings Brass Builder Hardware

PRICING POLICIES
Pricing is the art of determining the best price which will enable the firm to get maximum profit. The manufacturer should consider the following factors while determining the price of his product:-

1. Cost of production 2. Continuity of demand for the product. 3. Competitors price. 4. Effect of price on the volume of sales. 5. Pricing method. 6. Marketing objectives.

Price decides the future of the company. Pricing is important in survival of the company, increasing profit, sales growth, maximum market share, quality etc.

In INDUSTRIAL COMPONENTS cost plus pricing policy is used. industrial components price is decided by taking into consideration the rawmaterial costs, overheads expenses and transportation cost and competitors price. It also keeps in mind the government legislations and regulation.

CHANNELS OF DISTRIBUTION

Distribution, in the marketing content, is the process of making the product or services. Available to the consumer and involves to the end users. Marketing intermediaries work as a link between producers and users and fill the gaps created when the direct exchange between the producers and the end users is not possible or feasible.

A manufacturer or supplier may sell or supply the product to the consumer or may take help of intermediaries to make the same available to the end user. The different types of channel of distribution are:

Manufacturer to customer Manufacturer to Wholesaler/Retailer to Consumer Manufacturer to Wholesaler to Agents to Retailer to Consumer Manufacturer to Agents to Consumer

INDUSTRIAL COMPONENTS also has channel of distribution. The channel of distribution is direct manufacture to customer. They send their products to the actual customer through the trucks. They do not deal with any agent or with any suppliers as they have direct contact with their actual customer.

SALES PROMOTION
Sales promotion includes those marketing activities that stimulate consumer purchasing and dealer effectiveness, such as displays, shows and expositions, demonstrations and various non-recurrent selling efforts not in the ordinary routine.

Sales promotion is a narrower term and is a part of promotional mix of the firm. It does not include advertising and personal selling. In fact, sales promotion is designed to supplement and coordinate samples, premium on sales, holding contests, participating in fairs and exhibitions, increasing public relations, etc.

The basic purposes of sales promotion are to:

Introduce new products, Attract new customers, Increase sales in slack season, Crate goodwill among the present as well as prospective

Customers. Create good public image.

INDUSTRIAL COMPONENTS prefers sales promotion at consumer level only as they do not have any other distribution channels.

ADVERTISING

Advertisement is one of the major promotional tools available to the organizations to increase their sales. It plays a vital role in making awareness about the products of the company to the customers. A properly designed advertisement not only increases the sales of the company but also creates a good image of the company in the minds of the customers.

There are various forms media through which the organizations can advertise themselves. For instance, Press Advertising Outdoor Advertising Audio - Visual Advertising Direct mail Advertising Display Advertising

INDUSTRIAL COMPONENTS has also advertised itself for promoting the sales of the products. It gives the advertisement of its products in the industrial magazines, in the business newspaper, also in the telephone directory. This is about the Print media advertisement. It also advertises through internet. It created its own website named: www.industrialcomponents.in

INTERNATIONAL MARKETING:
Because of globalization and liberalization, the world has become small. Now a day, the area of business is not limited unto the boundaries of the country but it expands all over the world. There are many companies of India whose business is spread in the world. INDUSTRIAL COMPONENTS is one of them. Their main marketing is in U.K., Germany, Italy, and U.S.

MARKETING RESEARCH
According to Philip Kotler, Marketing Research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

Marketing Research can be done in many ways like formal study of specific problems and opportunities, market survey, a product preference test, etc. depending upon the capacity of desire of the organization.

Marketing Research is the systematic design collection analysis and reporting data and finding relevant to a specific market segment. It is also connecting with the study to product planning, pricing, selling, and advertising etc. through marketing research the company comes to know about the prices of their product and prestige of the company.

Marketing research is reduces the risk involved in marketing decisions. Marketing is needed for such type of products where marketing is highly flexible. INDUSTRIAL COMPONENTS makes marketing research by consignee agents, feedback from customers, and product analysis in lab. Company decides price of the product after this research.

INTRODUCTION
To run the industry efficiently optimum capital structure should be maintained i.e. the capital should be available at low rate of interest. Finance is blood in circulatory system of any economic body. As blood circulatory system is important in body, finance occupies a special place in business. All business transactions become possible due to finance only.

Financial department is one which handles the maintenance concerned with the finance. Example:-capital, distribution of income, and sources of finance etc. before moving forward we must know the definition of financial management.

Financial management is concerned with such matters as, how a business corporation raises its finance and how it makes use of it.

Business needs finance (funds) to carry out its activities and accomplish certain business objectives .no business venture can succeed unless it has enough money to take advantage of any opportunities that may arise. Finance is the life blood of any business.

Financial management is that part of managerial activity which is concerned with planning and controlling of firms financial resource. Success of business largely depends upon the Finance Policies developed by Financial Department.

ORGANIZATION OF FINANCE AND ACCOUNTS DEPARTMENT


A firm should give proper attention to structure and organization of its finance department. If financial data is missing or inaccurate, the firm may not be in a position to identify the serious problems confronting the firm any time for necessary corrective action. The role of different financial executives should be clearly defined in order to avoid conflict and overlapping of functions.

The organization chart of finance department of industrial components is as under:

ORGANIZATION CHART

Managing director

Chief Accountant

Assistant

Clerk

Chart No. 8: Managerial Hierarchy of Finance Department

FINANCIAL PLANNING
The firm may use its internally generated fund to finance current and fixed assets. When the firm grows at a high rate, internal funds may not be sufficient. Thus, the firm would have to raise external funds other by issuing equity or debt or data. The process of estimating the funds requirement of a firm and depending the sources of funds is called financial planning.

The company also avails for encouragement for its imports of raw materials. Since the product of the company is such that a major portion of the finance is expanded for raw- materials.

For expansion and diversification the company policy is to use the accruals as well as bank term finance. Prepare cash flow statement for week time. Analyzing the collections, company would be getting during the week and matching it with the payments to be made during the week.

CAPITALISATION

The word Capitalization can be defined as sum total of all kinds of long term securities at their par values. Thus, it can be interpreted as the sum of the ownership capital, bonds and other long term debts and the surplus. It consists of: A. Ownership Capital: The values of shares of different classes. B. Borrowed Capital: The value of bonds and debentures.

C. Surplus: The value of surpluses i.e. accumulated profit, whether Or revenue nature or capital nature.

Capitalism simply means valuation of Capital investment in the company. In broader sense, capitalism means total accounting value of all the capital regularly employed in the business.

There are three types of capitalism: 1. 2. 3. Over capitalization Under capitalization Proper capitalization According to M.C. Shukla Capitalization is the total of all funds of long term securities assured for company as well as surplus which are not meant to be distributed.

A company is said to be capitalized it its earning are less in relation to its capital investment. It is under capitalized of its earning are more in relation to its capital investment.

CAPITAL STRUCTURE

Capital Structure refers to the composition of sources of funds. The company has used to raise the finance needed by it for its business. There are five sources of funds:

1. Debentures, 2. Other long term debts, 3. Preference shares, 4. Equity shares and 5. Reserve and surplus.

These called retained earnings. Generally, the management of the company plans an ideal capital structure in advance and raise funds accordingly as and when need for funds arises.

According to Gersternberg, Capital Structure of a company refers to the make up of its Capitalization. That is the type of securities to be issued and the relative proportion of each type of security in the total capitalization. It includes all long term debts, preference share capital and shareholders fund.

According to West &Bringhan, Capital structure is the permanent finance of the firm represented by long term debt preferred stock and net worth.

CAPITAL BUDGETING
The process of taking decisions as to which assets should be purchased and how to spent the funds for this purpose is called capital budgeting. Capital budget is prepared to make secure whether sufficient cash remains available to the firms on a continuous basis.

Capital Budgeting is a process of making decisions regarding long term investments in fixed assets which are not for sale such as land, building, machinery and furniture.

In industrial components they prepare capital budget for three years and divide it according to the one-year. Then months then weekly working capital is decided on the basis of total yearly planning.

In industrial components, decisions are coordinately taken by experts and accounting members of finance department considering the view of costing department and experts of department offices.

MANAGEMENT OF WORKING CAPITAL


Working capital is very important part of business. It is the lubricating factor which makes the vehicles of business run. And adequate level of working capital provides a business with operation flexibility. So the level of working capital should be adequate. Apart from this is supporting tool it doesnt provide any direct return so the determine the exact need of working capital for financing it and to manage the each component of Working Capital Management is pre condition.

No business can smoothly run without adequate capital. Thus concept of working capital has a generally a positive balance of working capital i.e. excess of current asset over current liabilities. The analysis of working capital can be conducted through by calculating various ratios with the help of sources and application of fund.

Company has not provided us the financial information for the confidential matters.

WORKING CAPITAL CYCLE

CASH

DEBT ORS FINIS HED GOO DS

RAW MATERIA L WORK IN PROGR ESS

Chart No. 9: Working Capital Cycle

CONCLUSION

The conclusion can be made from the major discussion that the location of unit is best matching with its aims and objectives. I hereby conclude my project with the knowledgeable memories of my visit to INDUSTRIAL COMPONENTS The industry which I visited was an industry producing Brass products. By observing Personnel, Marketing and Financial Details it can be said that the company is progressing. I personally feel that future of this unit is very bright and prospective. Thus each and every department of the company is well designed and proves its worth of a company. I am highly obliged to all Officers and Workers of different departments of INDUSTRIAL COMPONENTS. They had given us valuable information as a part of practical knowledge. I was fully satisfied with their guidance. On seeing the past and current progress of the unit I personally feel that this unit has a very bright future and my best wishes to this unit. I feel very fortune as I had a chance to visit a unit so called industrial components. My regards to the company and wish that the company may achieve more and more success in future.

APPENDIX
LIST OF CHARTS: CHART NO. 1. 2. 3. 4. 5. 6. 7. 8. 9. PARTICULAR Organizational Structure Managerial Hierarchy of the Production Department Production Process Chart Org. of Personnel Department Recruitment: Matching the needs of Applicants & Organization Industrial Relation Org. Of Marketing Department Managerial Hierarchy of Finance Department Working Capital Cycle PAGE NUMBER

LIST OF TABLES: TABLE NO. 1. 2. PARTICULAR Product Range List of Machineries PAGE NUMBER

BIBLIOGRAPHY

Ashwathappa K., Human Resource and Personnel Management,

Fourth

Edition, 2005, Tata McGraw-Hill Publishing Company Ltd., New Delhi

V.S.P. Rao, Human Resource Management(Text & Cases), Second Edition, Excel Books, New Delhi

Kotler Philip, Marketing Management, Prentice hall of India, 12th Edition, Himalaya Publishing house.

Chandra Prasana, Financial Management, Fifth Edition, 2001, Tata McGrawHill Publishing Company Ltd., New Delhi

Website www.industrialcomponents.in

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