Beruflich Dokumente
Kultur Dokumente
Distributor
Payment
Processing on
GlaxoSmithKli
ne
Bangladesh
Prepared For
Dr. Md Mohan Uddin
Associate Professor
School of Business and Economics
United International University
Prepared By
Md. Saddam Gazi Joy
ID: 111 122 226
Major: Finance
School of Business and Economics
United International University
Date of Submission
22 August, 2016
United International University
22 August, 2016
Dr. Md Mohan Uddin
Associate Professor
United International University
Subject:
Submission
of
the
Report
on
Dear Sir,
I am very happy to inform you that I have completed my report on the topic of Distributor
Payment Processing on GlaxoSmithKline Bangladesh Limited. I have tried to produce
accurate information throughout the report. However, may be some unwanted mistakes for
which I apologize.
I will be glad if you accept my work. I am expecting your valuable advice and coordination
for my future developments.
Sincerely Yours,
Acknowledgement
I would like to express my humble gratitude to the Almighty Allah for enabling me to
complete the enormous job of this report. This report would not have been possible without
the help, encouragement and appreciation of many individuals. I would like to express my
heartfelt gratitude to my honorable course instructor Dr. Md Mohan Uddin for his guidance
and helpful suggestion during making this report. This report would not have attained its
current shape without his encouragement and support.
I would like to express my deepest gratitude to my parents for their continuous support,
constant inspiration and loving care given and shown to me during my studies.
I would also like to thank the authority of GlaxoSmithKline Bangladesh Limited for giving
me the opportunity to do my internship in their well renowned multinational organization and
supplying me necessary information and published papers.
I also acknowledge to my GSK supervisor Mamata Bashar apu,Md. Nadim Khan and Mr.
Rajib Saha and all of my friends to help me a lot.
I also acknowledge my debt to all who helped me in collecting information about
GlaxoSmithKline Bangladesh Limited.
Table of Contents
1
Introduction.......................................................................................................................2
1.1
Bangladesh Economy................................................................................................2
1.2
1.3.1 Multinationals........................................................................................................6
1.3.2 Top 10 Pharmaceutical Companies......................................................................7
1.3.3 Exports by Pharmaceutics Industry....................................................................7
1.4
1.5.1 Strength.................................................................................................................10
1.5.2 Weakness...............................................................................................................10
1.5.3 Opportunity..........................................................................................................11
1.5.4 Threats..................................................................................................................11
1.6
1.7
Literature Review............................................................................................................14
2.1
Distribution Channel...............................................................................................14
2.2
2.5
2.5.1 Definition..............................................................................................................21
2.5.2 Purpose.................................................................................................................21
2.5.3 Excel Spreadsheet or Text File............................................................................21
5
3.2.1 Resources..............................................................................................................27
3.3
Learning...................................................................................................................27
Organizational Experience.............................................................................................32
4.1
4.2
4.3
4.4
4.5
The Things I Could Have Done Differently If I Had a Chance to Redo the
Internship............................................................................................................................33
4.6
Conclusion................................................................................................................34
4.7
References.................................................................................................................35
Appendices.......................................................................................................................37
5.1
List of Tables
Table 1.1: Ownership and Size..4
Table 1.2: Major Industry..5
Table 1.3: Rank of GlaxoSmithKline Bangladesh Limited6
Table 2.1: Types of Channel and Description16
Table 3.1: Types of GSK Products.37
Table 3.2: Consumer Healthcare Products Category...37
List of Figures
Figure 1.1. Exports of Pharmaceutical Company....8
Figure 2.1. Types of Distribution Channel.14
Figure 2.2. Meaning of Channel..17
Figure 2.3. Distribution Channel of GSK...18
Figure 2.4. Distributor Payment Process19
Figure 3.1. Transparence of Files24
Executive Summary
This internship report is made on distribution channel and its consequences of
GlaxoSmithKline Bangladesh, the report includes the process of evaluating the companys
claim statements. This report helps an organization to understand how their performance was
and it was also helps them to take decisions in future.
I have selected this topic by consulting with my academic supervisor. The beginning part of
my report contains the brief introduction of our countries economic condition, Bangladeshi
Manufacturing sectors, Bangladeshi Pharmaceutical industries and the objective and the
significance of the report.
In the second part, I have covered the some background of the company such as the history,
global network, mission & strategy, the organizational structure, market position and an
overview of its products.
In the third part, I have given the literature reviews of distribution channel, types of
distribution channel, distribution channel of pharmaceutical company and the distribution
claim process.
In the next part, I have discussed the distribution invoice and the SWOT analysis of
GlaxoSmithKline Bangladesh Limited.
Then, I have shared my internship experience at Finance Department of GlaxoSmithKline
Bangladesh Ltd. Here I have presented both my working experience and the departmental job
responsibilities. In this part, I have also described my observation and understanding about
the organization. Lastly, I have given some perception about the organizations overall
performance.
Lastly, I have come with a brief conclusion, necessary references and then presented
appendix.
A REPORT ON
DISTRIBUTOR PAYMENT
PROCESSING ON
GLAXOSMITHKLINE
BANGLADESH LIMITED
Chapter-1
1 |Page
1 INTRODUCTION
1.1 BANGLADESH ECONOMY
The economy of Bangladesh is the 32nd largest in the world by purchasing power parity and is
among Next Eleven emerging market economies in the world. According to IMF,
Bangladeshs economy is the second fastest growing major economy of 2016, with a rate of
7.1%. Bangladesh have seen a major surge in textile industry, second largest in the world,
along with emerging Pharmaceutical, Defense, Telecommunication and IT industry.
Agriculture also plays a crucial role. In recent years, Bangladesh has seen a drastic
improvement in its energy infrastructure, which is required to implement. The GDP growth of
Bangladesh is 7.1% and the population below poverty line 13% and unemployment rate is
4.5%. The observation found (IMF Research Dept (2013).
Bangladesh, the worlds eighth largest country by population, offers opportunities for
investment, especially in the energy, power, pharmaceutical, information technology,
telecommunications, and infrastructure sectors as well as in labor- intensive industries such as
readymade garments, household textiles, and leather processing. It offers a range of
investment incentives under its industrial policy and export-oriented growth strategy, with
few formal distinctions between foreign and domestic private investors. According to the
central bank of Bangladesh, the country received USD 1.5 billion in foreign direct investment
(FDI). Corruption has been identified as one of the major impediments that increase the risk
and cost of doing business, and it is estimated to reduce growth of GDP by as much as two to
three percent. The culture of settling political scores on the streets through agitation, violence
and blockades increase costs and productivity losses for foreign firms. Despite receiving
US$1.5 billion as FDI in 2013-14, a 50 percent jump from the previous fiscal, it is a paltry
amount when taking into account the total foreign investment that South Asia attracted during
the same time period.
2 |Page
Bangladesh capital market is one of the smallest in Asia but the third largest in the south Asia
region. It has two full-fledged automated stock exchanges namely Dhaka Stock Exchange
(DSE) and Chittagong Stock Exchange (CSE) and an over-the counter exchange operated by
CSE. It also consists of a dedicated regulator, the Securities and Exchange Commission
(SEC), since, it implements rules and regulations, monitors their implications to operate and
develop the capital market. It consists of Central Depository Bangladesh Limited (CDBL),
the only Central Depository in Bangladesh that provides facilities for the settlement of
transactions of dematerialized securities in CSE and DSE. The observation found (Foreign
direct investment.(2013)
The following table shows the distribution of the manufacturing establishments by major
industry and size class. Major three leading manufacturing establishments were Manufacture
of textiles 10, 983 (25%), Manufacture of food products 8,441 (20%) and Manufacture of
wearing apparel (Readymade garments) 6984 (16%) respectively.
4 |Page
5 |Page
The pharmaceutical industry in Bangladesh is one of the most developed hi-tech sectors
within the country's economy. In 2000, there were 210 licensed allopathic drugmanufacturing units in the country, out of which only 173 were in active production; others
were either closed down on their own or suspended by the licensing authority for drugs due to
non-compliance to good manufacturing practices or drug laws. Now about 300
pharmaceutical companies are operating at the moment. The industry manufactured about
5,600 brands of medicines in different dosage forms. There were, however, 1,495 wholesale
drug license holders and about 37,700 retail drug license holders in Bangladesh. After the
promulgation of Drug Control Ordinance -1982, the development of this sector was
accelerated. The professional knowledge, thoughts and innovative ideas of the
pharmaceutical professionals working in this sector are the key factors for this development.
Due to recent development of this sector, the industry is exporting medicines to global
markets, including the European market. This sector is also providing 97%
(Hassan, M. A.,Akhter, S., & Shahjahan, M. argrued.) (2016) of the total medicine
requirement of the local market. Some of the companies produce insulin, hormones, and
anticancer drugs, which were not previously produced in Bangladesh. Leading
pharmaceutical companies are expanding their business with the aim to expand into the
export market. Recently, a few new industries have been established with high tech
equipment and professionals to enhance the strength of this sector.
The top 12 leading pharmaceuticals company in Bangladesh including local and MNCs are Square, Incepta Pharma, Beximco, Opsonin Pharma, Eskayef, Renata, A.C.I.,
Aristopharma, Drug International, Sanofi Aventis, GlaxoSmithKline.
1.3.1 Multinationals
Of the total pharmaceutical market, local companies are enjoying a market share reaching
around 90%, while the multinationals are having a 10% share of the medicine-market. Out of
the top fifteen pharmaceutical companies in Bangladesh only two are MNCs. Among the
MNCs Sanofi has the highest market share while Novartis had the highest growth last year
(2014).
Table 1.3: Rank of GlaxoSmithKline Bangladesh Limited
6 |Page
1. Novartis Bangladesh
2. GlaxoSmithKline Bangladesh
3. Square Pharmaceuticals Ltd.
4. Eskayef Bangladesh Ltd.
5. Beximco Pharmaceuticals Ltd.
6. Incepta Pharmaceuticals Ltd.
7. Renata Ltd.
8. ACI Ltd.
9. Radiant Pharmaceuticals Ltd.
10. Healthcare Pharmaceuticals
Bangladesh Pharmaceutical Industry exports a wide range of products covering all major
therapeutic classes and dosage forms to 92 countries. The major destinations for Bangladeshi
medicines are now Myanmar, Sri Lanka and Kenya while nearly 50 countries import
Bangladeshi Pharmacy products regularly.
7 |Page
At the beginning of the factory there were around 250 workers / employees in the company.
At present the employee strength of the company is about 1000. It has 12 sales deports
("GlaxoSmithKline, Bangladesh," n.d.) in different district towns of the country covering
most of the areas of the country. It facilitated the customers to get the company products as
their premises within shortest possible time at the company cost.
In 1996 it has been incorporated as GlaxoWellcome Bangladesh Limited and in October 2002
it has been incorporated as GlaxoSmithKline Bangladesh Limited. The corporate office and
Marketing division shifted to Dhaka in 1998. The factory is in a two storied building on
67000 sq. meter of land. 82% of its share belongs to group and the remaining 18% belong to
the Bangladeshi companies and various individuals. ("GlaxoSmithKline, Bangladesh," n.d.)
Spirit
Our company spirit describes how we need to behave if we are to achieve our goal They
undertake their quest with the enthusiasm of entrepreneurs, excited by the constant search for
innovation. They value performance achieved with integrity. They will attain success as a
world class global leader with each and every one of their people contributing with passion
and unmatched sense of urgency. ("GlaxoSmithKline, Bangladesh," n.d.)
A good SWOT should consider both internal and external factors that influence the
organizational operations.
Factors pertaining to the internal environment of the company. These are usually
Expressed as Strengths (S) or Weaknesses (W)
Factors that pertaining to the external environment of the company. These are expressed as
Opportunities (O) or Threats (T).
1.5.1 Strength
1.5.2 Weakness
Manual based internal control system as they have done all the report as manually
rather than using a software.
Underutilized plant capacity
Higher unit cost relative to key competitors in all SKU.
Group compliance due to group policy the company has to import raw materials form
UK rather from neighbor countries (other than those which are produces locally)
resulting in higher cost of production.
Lack of variety in products
Low pack size
Lack of sufficient promotional effort as they use intermediaries for give an
advertisement.
10 | P a g e
GSK has weaker distribution network and sales force are relatively low compare to
competitors.
1.5.3 Opportunity
GSK as a multinational company has opportunity for expand its investment and has
potential growth in Bangladeshi market.
Expanding the companys product line to meet a broader range of customer reeds.
Target and acquire an untapped marketing for vaccines
Market is significantly large and growing
Proper utilization of vaccines may result in higher profit.
Availability of natural resources is the most lucrative opportunity for GSK to work
with Bangladesh.
In Bangladesh, GSK can get labors at a very cheap cost.
High confidence brand name and quality
1.5.4 Threats
Adverse shifts in foreign exchange rates and trade policies of government
Aggressive movement of rivals
Slowdown in market growth
Growing bargaining power of the end consumers, thus high priced medicine are
inconvenient for them
Costly new regulatory requirements
Competitors lower prices
Increasing threats from local competitors.
11 | P a g e
My objective behind doing this internee is to fulfill my internship requirement and gather
knowledge.
12 | P a g e
Chapter-2
13 | P a g e
2 LITERATURE REVIEW
2.1 DISTRIBUTION CHANNEL
Distribution Channel is the path through which goods and services travel from the vendor to
the consumer or payments for those products travel from the consumer to the vendor. A
distribution channel can be as short as a direct transaction from the vendor to the consumer,
or may include several interconnected intermediaries along the way such as wholesalers,
distributers, agents and retailers. Each intermediary receives the item at one pricing point and
movies it to the next higher pricing point until it reaches the final buyer. ("What is
distribution channel? definition and meaning," n.d., p. xx)
14 | P a g e
15 | P a g e
In this method a manufacturer sells the material to a wholesaler, the wholesaler to the retailer
and then the retailer to the consumer. Here, the wholesaler after purchasing the material in
large quantity from the manufacturer sells it in small quantity to the retailer.
Then the retailers make the products available to the consumers. This medium is mainly used
to sell soap, tea, salt, cigarette, sugar, ghee etc. This channel is more clarified in the above
diagram.
17 | P a g e
Make no mistake; this is not always an easy area. If it were, every pharma company would be
fighting and competing here. The good news is that for those companies able and willing to
develop their capabilities and plans, channel strategy could be a 'stone unturned' in the battle
to win customer loyalty.
Table 2.1: Types of Channel and Description
Supply or Service
Description and Features Relevant
Channel
Wholesaler
Direct to Patient
18 | P a g e
Homecare
Mail Order
19 | P a g e
Retailers
Retailers
Distributor
-1
GSK BD
Ltd.
Distributor
-2
Distributor
-3
Retailers
Retailers
Retailers
Retailers
Retailers
Retailers
20 | P a g e
2.5.1 Definition
Claims can be used to recover costs from vendors, to record deductions when the distributor
short pays an invoice with the claim, and consequently to resolve disputes when
reconciliation takes place. Marketing program claims can be submitted before or after
payment.
2.5.2 Purpose
Consumer product manufacturers engage in contracts with distributors to offer special or
discounted pricing to specific end customers or end customer groups (retailers, operators).
This special pricing creates bigger market share, product recognition, and customer loyalty
for both the manufacturer and the distributer.
Since distributors do not normally procure special stock or inventory for specific end
customers and because they must provide documented proof to the manufacturer that they
actually sold the product to an end customer that qualified for the discount, the distributor
21 | P a g e
ends up selling the product at or below their normal acquisition price and must then file a
claim with the manufacturer to recoup the money for the difference.
The Bill back application enables manufacturers to execute the claim process efficiently and
comprehensively.
The bill back lifecycle is initiated when two parties, typically a manufacturer and distributor,
enter into an agreement for advertisement in a marketing event, markdowns, or for end
customer contract pricing. When the distributor submits a claim for cost recoveries, it must be
recorded in the manufacturer's ERP system. The bill back lifecycle takes the perspective of
the manufacturers receipt and processing the distributors claim(s).
A claim can be received in a flat file such as an Excel spreadsheet or text file, directly on the
manufacturers website, through electronic data interchange (EDI), fax, email, or
phone. When the claim is submitted using a flat file, fax, email, or phone, the claim must be
entered in the manufacturers system.
Although this help documentation often refers to the partners involved in a claim as a
manufacturer and distributor, the partners may also be known by other names such as a
vendor and wholesaler.
A claim can be transmitted in the following ways:
22 | P a g e
If the distributor faxes the claim, then the claim must be created manually by entering all the
information in the Claim Workbench transaction (/IRM/GCRM).
Once a claim is created in the system, the claim is checked to ensure the authenticity of the
submitted data. If the claim contains errors or an invalid material, a rejection reason should
be entered on the corresponding line item(s) before the claim is posted. A posted claim is
eligible to be used as a source document for bill back document creation. The claim is further
validated to ensure that the claim amounts are correct, and within or outside a configured
tolerance. A bill back document is then created using the claim as a source document, and the
bill back document is accrued and settled in order to credit the distributor for the submitted
claim.
23 | P a g e
Resubmissions also may be created manually, from a file that includes line item detail, from a
file with header and line item detail, from an IDoc, or using Automated Document
Maintenance (ADM).
24 | P a g e
Chapter-3
25 | P a g e
3.1.1 Step 1
First of all, separate all the files into their categories or branches. Then we Cheek all the files
whether the file is correct or not.
3.1.2 Step 2
We inputs all the files in the Excel Spreadsheets and give a code for every file.
3.1.3 Step 3
The upper class employee analysis all the files and keep record in their laptop.
All the
Files
Manager
Finance
Officer
Intern
27 | P a g e
3.2.1 Resources
Key resources is the most important assets needed to make a business work. Every business
requires them and it is only through them that companies generate value propositions and
revenues. These resources are following
Financial Resources
Human Resources
Physical Resources
Information Technology
EDUCATIL RESOURCES
3.3 LEARNING
I cheek different bills and find out whether the VAT Chalan Form are attested or not, relevant
documents are correct or not. If I found any wrong then I have to give streaky in the front
page of the document. Besides this, the major job task I handled was Updating and analyzing the reliability of stock destruction reports and Qualitative
variance report sent from different parts of the countries.
Also handled other tasks as well like updating the financial cost various Schemes.
I also handled the Purchase Order (PO) Tracker & checking relevant supporting
documents.
I also handled checking transparency of VAT and media related documents with
supporting documents provided.
I also handled Pipeline Analysis
Different Bills Photocopy
Cheek & update Indian Combat Bills
GSK BD
Ltd.
28 | P a g e
Cx
Rx
Consumer Healthcare
Products
GSK have two types of products. One is Cx (Cx means Consumer Healthcare Department)
and another is Rx (Rx means Pharmaceutical & Vaccine Products).
Cx
Health Foods
Oral Health
Instant Power
Drinks
Care
Drinks
Foods
Cx belongs four types of products like Health Foods Drinks (HFD), Instant Power Drinks
(IPD), Foods and Oral Health Care (OHC).
29 | P a g e
damage. I cheek whether the products are expired or not, amount calculation and update the
report. QVR means Quality Variant Report. This is also same as SDR.
30 | P a g e
31 | P a g e
Chapter-4
32 | P a g e
4 ORGANIZATIONAL EXPERIENCE
4.1 INTERACTIONS WITH THE SUPERVISOR AND THE
CO-WORKERS
Supervisor is a representation of the organization. Therefore, a good relationship between the
employee and the supervisor can present a good relationship between the company and the
employees, so that employees feel attached to the organization and want to be involved in the
organization.
I have a good relationship with my supervisor and Finance officer. They help me a lot. If I
have a problem, they solve it and gives directions.
33 | P a g e
34 | P a g e
4.6 CONCLUSION
GlaxoSmithKline carries good branding image all over the world. Their brand building
strategies are more well defined then others. To enhance the market share maintaining and
market leadership, the company can focus on the above-mentioned issues. If the business can
utilize such propositions, then it is going to become an uncontended category in the most
diversified Consumer Healthcare of Bangladesh. The quality of product must be maintained
and promotional strategies must be modifying day by day.
Thats why GSKs values are not optional. In every decision they make, they must put their
patients and consumers first, act with integrity, treat people with respect and operate with
transparency. Throughout my analysis, I have realized that GSK is performing well, it is
financially solvents but there some threats which are increasing recently. If the risks or threats
can be handled properly then definitely GSK can survive successfully as like the previous
years. Affiliation report helps us to more efficient and more active to gather practical
knowledge it efficient for practical life.
35 | P a g e
4.7
REFERENCES
36 | P a g e
37 | P a g e
5 APPENDICES
5.1 APPENDIX: WEEKLY JOURNAL
Weekly Journal No. 01
Name: Md. Saddam Gazi Joy
ID: 111 122 226
Work Week: Thursday May 12, 2016
Being a registered intern for summer 2016 I started my first day at GlaxoSmithKline
Bangladesh Limited (GSK) on the 12th May, 2016. I reported to the HR department on time
and one of the HR officers guided me to my internship supervisor at GSK Mr. Rajib Kumar
Saha, the Marketing and Trade Finance Manager of Finance Department. I was formally
introduced to Ms. Mamata M. Bashar and Nadim Khan, who worked in the Marketing and
Trade Finance Team. Ms. Mamata M. Bashar took me through the overview of the teams day
to day tasks and key responsibilities. She also explained the nature of my work that I would
be doing as an intern. I was also made aware of the office hours, code of conducts at GSK.
Work Done:
1. Checked the claims Files of Digital Cost for different brands
2. Checked the Google Edward and Facebook cost
3. Top Sheet cost exactly match with Supporting Sheets which comes from Facebook
and Google Edward
38 | P a g e
During this week of my internship I was assigned to design a number of wholesale and retail
claims database. The aim of this task was to identify whether target sales had been achieved
by different distributors. Accordingly different discount and rewards were given.
Work Done:
4.
5.
6.
7.
39 | P a g e
This week I work with Nadim Vhai and also cheek the different files as assigned me.
Work Done:
8. Checked the claims with respect to total claim values and supporting documents
9. Reported the discrepancies in terms of calculation errors, absence of authorized
signatures by designated officials and lack of supporting documents.
10. Cross-checked Preferred Dealers bills, Contract Merchandisers salary and
incentives, Purchase Schemes.
Learning and Achievements:
1. Learnt how to look for various accounting errors and reporting them
2. Kept attention to detail
3. Maintained specific time frame to meet deadline
Observations:
1. Internal financial control requires extensive monitoring and supervising efforts.
2. Each and every claim has to be supported by relevant vouchers, memos or any other
structured documents.
3. GSK has been following meticulous rules to establish checks and balance in trade
finance.
40 | P a g e
During the second week of the month at GSK, I was introduced to Market Returns Database
of different consumer healthcare products such as Horlicks, Glaxose D, Sensodyne
Toothpaste and Toothbrush. This database is a crucial tool to track the expired products that
were returned from the retailers through their respective distributors. The key purpose of this
database is to prepare the Stock Destruction Report. It also helps identify whether any
unexpired product is returned and distributors charge higher claims.
Work Done:
11. Updated the Market Returns Database of Dhaka Metro 1, Dhaka Metro 2, Dhaka
Outer and Sylhet areas for the month of June, 2016.
12. Filtered data based on specific value of claims in order to check any higher Price to
Distributors occurred.
13. Checked whether any unexpired products were returned from the distributors
41 | P a g e
This was the last work week of the month and before the upcoming Eid vacation. Therefore I
was engaged mostly in final cross-checking and processing the claims from various
distributors of GSK.
Work Done:
14. Cross-checked the salary claims of MDOs with different vouchers and memos
15. Updated the IFRS Claim Tracker with respect to the claim values.
16. Checked the bills from a number of marketing communication agencies
17. Checked whether the VAT challans were attested with respective bills
43 | P a g e
During this week of my internship I was assigned to design a number of wholesale and retail
claims database. The aim of this task was to identify whether target sales had been achieved
by different distributors. Accordingly different discount and rewards were given.
Work Done:
21. Analyzed the nature and patterns of wholesale and retail claims
22. Identified the key information to include in the database
23. Compared the monthly sales target and actual sales
24. Checked whether the appropriate percentage of discounts were claimed
Learning and Achievements:
7. Understood the design mechanism of claims database which helps managers to track
and release different bills and claims.
8. Learnt about different discount and reward schemes based on the achievement of sales
target.
Observations:
In some cases distributors were given GSK products equivalent to their claimed discounts or
rewards. This was also included in the claims database. A separate database was created to
track the quarterly claims.
44 | P a g e
45 | P a g e
This was the 1st busy work week of the month after the Eid vacation. Therefore I was engaged
mostly in final cross-checking and processing the claims from various distributors of GSK.
This week, I cheek Modern Trade such as MT SR Incentive, TMO Eid Bonus, TMO Salary
Merchandising Tools, and SDR
Work Done:
27. Checked the salary claims of TMOs with different vouchers and memos
28. Updated the SDR Claim Tracker with respect to the claim values.
29. Checked the bills of Sales Statement Report from Mutual Foods Products Ltd.
30. Checked whether they were attested with respective bills
Learning and Achievements:
11. Learnt that the salary claims of TMOs have to be supported with vouchers and memos
of expenses incurred during their sales visits
12. Learnt that claims above certain amounts require approval and supported by
authorization.
Observations:
At the end of the month there has to be coordination among different departments and teams
to settle and clear the bills. Suppliers, vendors and distributors are usually eager to get their
payment; therefore, the respective departments have to work in tight schedule during this
time. In the Marketing and Trade Finance Department of Consumer Health Care Division at
GSK we worked really hard to meet the deadlines and successfully achieve them.
46 | P a g e