VINYAS INNOVATIVE TECHNOLOGIES PVT LTD, MYSORE-570018.
Business Familiarization Report submitted to the B N Bahadur Institute of management science fulfillment of the requirements of III semester MBA degree examinations 2013
Submitted By: CHANDAN.N DAKSHITH.M
Reg no: Reg no:
(12MB0018) (12MB0022)
DEEPAK.M.A
Reg no:
(12MB0026)
DEVARAJA.P
Reg no:
(12MB0028)
DHARMARAJ.T.H
Reg no:
(12MB0029)
Guide
Prof B.SHIVARAJ
Page 1
DECLARATION We hereby declare that this Business familiarization report at “VINYAS INNOVATIVE TECHNOLOGIES PVT LTD” has been complied and prepared by us under the guidance of B. SHIVARAJ, BIMS, Mysore submitted towards the partial fulfillment of the requirements of III semester MBA degree examination.
CHANDAN.N
(12MB0018)
DAKSHITH.M
(12MB0022)
DEEPAK.M.A
(12MB0026)
DEVARAJA.P
(12MB0028)
DHARMARAJ.T.H (12MB0029)
(Prof. B. SHIVARAJ) BIMS MYSORE
Page 2
ACKNOWLEDGEMENT
This report has been successfully completed and made possible due to the cooperation, assistance and suggestion of many people whom we would like to express our sincere gratitude to. We would like to take this opportunity to express our profound and sincere gratitude to our Project Guide Prof .B. SHIVARAJ, B.N. Bahadur Institute of Management Sciences, Mysore for his valuable guidance throughout the report. We sincerely thank Mr. B. JAGADISH BAHADUR, Placement Officer, B.N. Bahadur Institute of Management Sciences, Mysore for extending his permission to work on our business familiarization report
at VINYAS INNOVATIVE TECHNOLOGIES PVT
LTD. We would like to thank our beloved and respected Prof AISHA .M. SHERIFF ,
chairman , B N Bahadur Institute of Management sciences, university of Mysore , manasagangotri, Mysore who paved the way for the completion of this report. We are immensely thankful to the HR Mr. YASHWANTH company guide of VINYAS INNOVATIVE TECHNOLOGIES PVT LTD, for valuable time by providing us with necessary information and guiding us regarding the various aspects of subject as well as the company.
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CONTENTS
SL. No.
TITLE
Page No.
1
Introduction
5
2
Industry overview
7
3
Company overview
12
4
Organization structure
17
5
Production
31
6
Human Resource
39
7
Marketing
43
8
Finance
45
9
Learning experience
48
10
Bibliography
49
CHAPTER-1 Page 4
INTRODUCTION
The aim of every economic activity is to satisfy human needs & wants. These needs and wants are satisfied through goods & services. A company must produce a combination of goods & services. A company must produce a combination of goods & services that result in maximum customer’s satisfaction. Today apart from tangible products company are providing a blend of services to attract & retain customers. Today services are used as strategic weapons to score over competitors.
OBJECTIVES: •
To gain the practical knowledge regarding subjects
•
To analyze the overall activities of company
SCOPE: •
The study was restricted to Mysore city only
•
The study makes an attempt to understand the overall activities of vinyas
•
This report is intended to be informational in nature, to provide a better understanding about each functional area of Vinyas
METHODOLOGY: Page 5
In order to prepare a report, data is essential. The required data can be obtained from primary data & secondary data. Methodology states how the required information is obtained from primary data & secondary data. Both primary & secondary data are sourced in completing the project.
Primary Data:
Required data was obtained through personal discussion with Mr. YASHWANTH the executive at Vinyas regarding customer perception of services & activities o functional area.
Secondary Data:
Required data was gathered from various books. It was obtained through internal information Vinyas & through internet websites such as www.vinyasit.com www.google.com
LIMITATION OF REPORT: •
The study was restricted to few days & Mysore city only
•
This study is purely for academic purpose with no experience in the field
•
This data used for research pertains to twenty days only
CHAPTER 2
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INDUSTRIAL OVERVIEW Electronic manufacturing services (EMS) is a term used for companies that design, test,
manufacture,
distribute,
and
provide
return/repair
services
for electronic
components and assemblies for original equipment manufacturers (OEMs). The concept is also referred to as electronic contract manufacturing (ECM)
Indian and Global Scenario Electronic Manufacturing Services (EMS) in India started growing from the mid 60’s with an orientation towards space and defense technologies. This was rigidly controlled and initiated by the government. This was followed by developments in consumer electronics mainly with transistor radios, Black & White TV, Calculators and other audio products Color Televisions soon followed. In 1991 the country saw economic crises for the first time which was triggered by the Gulf War followed by political and economic uncertainties within the country. Pressure on the electronics industry remained though growth and developments have continued with digitalization in all sectors, and more recently the trend towards convergence of technologies. After the software boom in mid 1990s India's focus shifted to software. While the hardware sector was treated with indifference by successive governments. Moreover the steep fall in custom tariffs made the hardware sector suddenly vulnerable to international competition. In 1997 the ITA agreement was signed at the WTO where India committed itself to total elimination of all customs duties on IT hardware by 2005. In the subsequent years, a number of companies turned sick and had to be closed down. At the same time companies like Moser Baer, Samtel Color, Celetronix etc. have made a mark globally. India is also an exporter of a vast range of electronic components and products for the following segments –
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Display technologies Entertainment electronics Optical Storage devices Passive components Electromechanical components Telecom equipment Transmission &Signaling equipment Semiconductor designing Electronic Manufacturing Services (EMS)
Page 8
These are the statistics of the electronic industries in the year 2011
Factors Governing the Growth of this Industry Page 9
The key factors governing the growth of electrical and electronics industries are as follows: Rising and continuous investments in research and development has led to increased productivity and higher-value added electrical and electronics products. Increased foreign investments have resulted in the accelerated growth in terms of electronics production and exports. Foreign companies are now making huge investments and are installing extensive production capacities in developing countries. Extends support to several global industries namely medical, telecommunications, industrial and automotive sectors. Rising incomes and living standards have resulted in the increase in demand of electronics especially consumer electronics products in the world. This industry is highly fragmented which comprises of many small and medium size enterprises. Asia Pacific region is emerging as the most spinning place for the consumer electronics industry, as the markets remain still unbranched. Rapid pace of innovation in electronics technology is resulting in a consistent demand for newer and faster products and applications.
Future Outlook The worldwide electrical and electronics industry is experiencing phenomenal and remarkable changes these days. The worldwide electronics industry is distinguished by fast technological advances and has grown rapidly than most other industries over the past 30 years. Voluminous production is slowly and gradually moving towards low cost destinations, which in turn are the markets which offer the most long term potential. In today's age of competition, electronic and electrical products manufacturing companies are under constant pressure to develop new and innovative products in shorter time cycles, at reduced cost, and with improved quality. The global electronics industry is driven by demand for the products, which are durable, lighter, cheaper, and better than the ones, they replace. To meet up the growing market demands, industry is slowly and gradually shifting its base to Asia Pacific countries, which is now the prominent source of electronic components and is soon going to turn out to be the primary destination for consumer electronics. There is an estimation that within 20 years, two third of the electronics industry will be four times as big as today and half of it will move into Asia. Page 10
Foreign collaborations and mergers are on a rise. A new wave of industrialization is throwing up several business opportunities for electrical and electronics market to further its market. There is a vast growth in the sales of computers, software and networking products. Younger generation is increasing becoming tech savvy and spending huge amount of money on digital products such as MP3 players, DVD players, CD players, mobile phones, speakers, headphones, shuffle, nano etc. Recent trends show that an increasing number of engineering and design activities are also being outsourced to EMS companies and they are becoming ODMs (Original Design manufacturers) and also provide final system integration and logistical support. With India's strengths in electronic design, this is a favorable trend for us.
Current Scenario : 2012 was an interesting year, with both exciting and worrying events for the Electronics Industry in India. While on the one hand the global economic climate was volatile and caused some slowdown in the country's economic growth, on the other the National Policy on Electronics promised far-reaching consequences for the Indian Electronics industry. The Policy aims at addressing the huge gap which is estimated at Rs.15.31 lakh crore ($300 billion) between locally manufactured electronics and the consumer demand for electronics that we expect to see by 2020. If immediate steps are not taken to address this gap, it is forecasted that by 2020, electronics imports may far exceed oil imports. Diverse areas such as manufacturing, R&D, IP creation, manpower and training, standards, e-waste management, investments, and the setting up of a National Electronics Mission are the immediate requirements for a growth in the Indian Electronics scenario.
Chapter 3 Page 11
COMPANY OVERVIEW
VINYAS INNOVATIVE TECHNOLOGIES PVT. LTD Customer satisfaction is Our Designature An ISO 9000 – 2008 Certified Company
Vinyas Innovative Technologies Pvt.., was founded in the year 2001 as a start up company. In a short span of nine years the organization has grown to a USD 6 million company with a team size of 600 people and aims to reach Revenue of USD 12 million for the current fiscal. Vinyas has invented the cutting edge technology to address the needs of wide spectrum of the EMS requirements. As an Electronics Manufacturing Services Company, Vinyas services large OE customers with entire spectrum of manufacturing facilities and the trained human resources. Starting with through-hole assembly to the complex and miniaturized SMT assemblies are handled by the dedicated teams assigned to each line of specialization. Over the period of time, Vinyas has developed the expertise to move from PWB assembly to “Box Build” by continuously moving up the value chain by its constant efforts, investments in technology and by evolving human resources. At vinyas, both customers and its human resources are considered as the two pillars of the success and the progress made. This has resulted in long term and mature relationship with customers and strong bonding with the team members.
CAPABILITIES Page 12
Vinyas works with its customer’s right from the drawing board stage. Hence, we participate in the development of products from prototype to alpha-beta stages to production phase. This approach necessitates that we have the dedicated lines to address the specifies of each of these phases of development and production.
At Vinyas Innovative Technologies Pvt. Ltd., we have set up dedicated lines for:
Prototype building Medium volume production High volume production
Each of the above phases of production is a group by itself in terms of technology, processes and skill sets. Hence, we have deployed the right size machines with appropriate technology and deployed the trained human resources at each of these lines separately.
Engineering & Sourcing Page 13
To complement the Electronics Manufacturing Services, we at Vinyas have consistently worked hard to develop and build skills and expertise in engineering and sourcing. This approach has helped to deliver our services faster and economically. Currently we have strong, dedicated teams in Vinyas to address the need of engineering and sourcing. This has helped us to deliver enhanced value of our customers in terms of design improvements and right sourcing. Thus the approached has helped Vinyas to move up the chain as well recognized partner for the “Box Build”. We have developed specialized skills in the following areas of Engineering:
Product development Mechanical Engineering DFM/DFT/DRC Procurement Engineering Special Processes
Quality
Quality of services is integrated with quality of human resources.
At Vinyas we firmly believe that quality of human resource deliver the quality of products and services to our customers. We consciously and continuously put in efforts to train our human resource to achieve higher levels of performance and to acquire higher grades of technical skills. The results of this approach have helped us to get accredited with ISO 9001:2008 version and ISO TS 16949. We are in the process of getting our processes assessed for ISO 14001.
We do integrate our Quality Systems with the systems of our customers wherever we are specially requested for. Page 14
Our exposure to Defence Industry has helped us to understand and implement MIL Standards and MIL Grade Processes.
OBJECTIVES
The main objective of Vinyas is to continuously excel in the field of Electronic Manufacturing by providing world class services and possessing world class facilities. In order to meet its objectives, VINYAS has initiated measures which are internationally accepted.
COMPANY
•
Name of the Company
:
Vinyas Innovative Technologies Pvt Ltd
•
Year of Establishment
:
2001
•
Address
:
KIADB Plot 200/Z2 In Survey no. 150 Hootagalli Mysore – 571186
•
Phone Number
:
91821 – 4009500 / 404555
•
Fax
:
91821 – 4282194
•
Email
:
[email protected]
•
Website
:
www.vinyasit.com
•
Chief Executive
:
Mr. N. Narendra
•
Designation of Chief
:
Managing Director Page 15
Executive
•
Major Activities Manufactures of
:
Electronic Hardware
•
Product / Service Imported
:
Electronic Components
•
Product / Service Exported
:
Electronic Hardware
•
Export to Countries
:
USA, Singapore, China, Denmark, Malaysia, U.K & Canada
•
Number of Employees
:
600
•
ISO Standard
:
9001-2008 Certified
ORGANISATION STRUCTURE OF VINYAS
Page 16
VINYAS TEAM Vinyas is led by Eminent and Professional team of experts with an overall exposure of over 35 years to the Electronic Industry, and the team consists of: Page 17
N. NARENDRA
As the Managing Director of the company, Mr. Narendra is a post graduate in Electrical Engineering from the University of Southern California. He has over 14 years of experience in Electronic manufacturing Industry and has led from the front in establishing VINYAS as a growing company in the field.
COMPANY INFRASTUCTURE PROTOTYPING •
Floor space of 7,000 sq feet
•
Manual screen printer
•
Manual assembly line
•
Batch reflow over with nitrogenous capabilities
•
Highly skilled soldering technicians
MEDIUM VOLUME •
Floor space of 40,000 sq feet
•
Separate Line for Lead Free assembly
•
Fully-Automatic screen printer
•
Fully automatic My Data Placement machine (40,000 CPH)
•
5 zone and 3 zone reflow oven
•
Dual
wave soldering machine
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HIGH VOLUME – LINE 1 •
Floor space of 20,000 sq feet
•
Fully automatic Panasonic screen printer
•
Panasonic chip shooter (MSH3 with 40000 CPH)
•
Panasonic fine pitch placer – 8000 CPH
•
7 zones Koki Reflow oven
•
Depanelling Jig
HIGH VOLUME – LINE 2
•
MMCG3 Chip Shooter with 8,000 CPH
•
MSH3 Chip Shooter with 40,000 CPH
•
MMCG3 Chip Shooter with 8,000 CPH
•
MPAV FINE Pitch Placer
•
11 Zone VITRONICS XPM Reflow Oven
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INSPECTION •
AOI
•
BGA Inspection System
•
X-Ray RTX 113HV
•
Microscope (IUVC – 20)
TESTING •
In-Circuit tester Agilent HP3070 Series II
•
MDA
•
Oscilloscope
•
Environmental Chambers
•
DMM and other bench test and measurement tools
•
Burn-in Room facility up to 550C
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SOURCING STRENGTHS
•
Verification of BOM
•
Drop-in/ alternate parts for non-stocked and obsolete parts
•
Approval from Customer for suggested parts
•
Process compatibility & Flow Charts
•
Equivalent RoHS parts for the projects with RoHS compliance
SOURCING COMMERCIAL
•
Reduction of Lead time
•
Negotiation of best prices
•
Negotiation of payment terms
•
Confirmation on tax & duty structures and required documents for customs, Central Excise & Sales Tax Departments
•
Fund Flow estimation
•
Delivery mode and logistics
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Sourcing
Sourcing
Sourcing
Engineering
Commercial & Logistics
Page 22
CUSTOMERS
Customer List Customer Name
Place
Proton Energy System
USA
X Com Electronics
Dubai
Diagnosis Ltd
UK
AKCP Company Limited
Hongkong
Jakarta Ltd
UK
Somix Technologies Inc.
USA
Bill Yurek
USA
ATAL. B.V
Netherlands
Telnor Business Solution
Norway
MN Service Industries
Switzerland
Optex Inc
Canada
Carw Forf Tech
Newzealand
Crea Tech Sprl
Belgium
Net Improvement Consulting Pvt Ltd Australia World Food Programme
Italy
Henric Hertz Strabe
Germany
ECAD Technologies
Newzealand
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Bharath Electronic Ltd
Bangalore
Larson & Turbo Ltd.
Mysore
G.E. Power Control
Bangalore
Texas Instrument
Bangalore
ITI
Bangalore
Tata Power Control
Bangalore
Matrix
Pune
GIC
Pune
Measurements & Control
Pondicherry
Mobile Applications
Bangalore
Omni Gate Systems
Chennai
Chira Electronics
Bangalore
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AWARDS & CERTIFICATE Award Received for Best Supplier 07 – 08
ISO – 9001 – 2008 CERTIFICATE Page 25
Page 26
India has a large market with long term growth potential. There is potential to develop and manufacture Electronics/IT hardware for the local and global market and gain higher global share besides meeting the country’s future requirement. So far the industry has been able to capture only a small share of the global electronics hardware as compared to other Asian countries. Presently, the Indian Electronic Industry has been witnessing brisk rate of growth. This sector is attracting considerable investments not only as a vast market but, also a potential production base by international companies. In manufacturing, the investments have been provided by the deli censing of the entire electronics industry and supportive policies. India started electronics mfg in 1965 with focus on space and defense Technologies, followed by consumer electronics and telecom
•
1920 Valves and Vacuum Tubes
•
1965 Space and Defense
•
Consumer Electronics
•
1985 Computer & Telecom exchange
•
1988 Digital Exchanges
•
1984-90 Growth phase for electronics
•
1991 Crisis due to Gulf War and Political instability
•
1997 ITA – 1 (Under 1WTO) signed – sluggish investments due to uncertainty about policy under zero import duties
•
2002-08 Growth of Cellular phones
•
Zero Duty regimes under ITA-1
•
Investments in Electronic Design, R & D.
Page 27
In recent years the electronic industry is growing at a brisk place. It is currently worth $10 Billion but according to estimates has the potential to reach $40 billion by 2010. The largest segment is the consumer electronics segment. While is largest export is components. Why we need EMS Industry in INDIA? Asian tiger nations like china, Singapore, Malaysia, Taiwan, Thailand etc., have built the success stories on the foundation of electronics hardware industry. As software industry can employee only white color labor force, what about the huge color work force which firms the backbone of the industrial landscape of India As we have to grow our own agriculture, similarly we have to build our own hardware products that are low costs and are designed for the Indian environment that cater to the needs of the Indian masses.
Recent trends show that an increasing number of engineering and designing activities are also being outsourced to EMS Company’s ant they are becoming ODMS (original Design Manufacture) and also provide final system integration and logistical support.
CONSUMER ELECTRONICS Consumer electronics are electronic equipment intended for everyday use, most often in entertainment, communications and office productivity radio broadcasting in the early 20th century brought the broadcast receiver. Later products include personal computers, telephones, MP3 players, digital cameras and recorders using video media such as DVD’s VCR’s or cam carders, increasingly the product have become based on digital technologies. The latest consumer electronics are previewed yearly at the consumer Electronics. Show in Las Vegas, Neville at which many industry pioneers spek.
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TRENDS:While consumer electronics continuous in its trend of convergence, combining elements of many products, consumers face different decisions when purchasing. Many products include interest connectivity using technologies such as WI-FI, BLUETOOTH and ETHERNET. Products not traditionally associated with computer use (such as TV’s or HI-FU equipments) now provide options to connect to the internet or to a computer using a home network to provide access to digital content.
POTENTIAL AND OPPORTUNITIES OF EMS IN INDIA Revenue generated by electronics manufacturing service provides its original design manufacture in India will rise from $774m in 2004 to $2.03 Billion in 2011. The growth of EMS industries will contribute to India’s overall electronic growth from 411.5 billion in 2004 to $40 in 2011.
GROWTH DRIVER FOR EMS IS: Strong and growing domestic demand for mobile phones, pc’s consumer and automatic electronics Increases demand for telecom, infrastructure equipment teledensity to increase from the present 9% 1000 to 22 by 2011 Rising labours cost in India More of global EMS in India and their plan for increased investments in India
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CLASSIFICATION OF DEPARTMENTS
DEPARTMENTS DEPARTMENTS
PRODUCTION PRODUCTION
HUMAN HUMAN RESOURCE RESOURCE
MARKETING MARKETING
FINANCE FINANCE
QUALITYPOLICY POLICY QUALITY
PRODUCTION Page 30
It plays a very important role in achieving organizational excellence. A number of organizations worldwide have achieved excellence by effective production management. It involves understanding of the characteristics of various types of production system, identification of the different phases of the management process, realizing the potential of different analytical tools developing the ability to react under various scenario to achieve consistently excellent business results, maintaining superior quality, higher productivity, perfect delivery performance, overall customers’ satisfaction & enterprises excellence all with lower cost.
Type of Product: Vinyas produces customized products that are customer centric in nature.
Type of Productive System Volume of production & system are: A). Batch and Mass production B). Process & Product system Productive system is used based on duration of projects. Master Productive Schedule and Production Planning control depends on projects.
There are four production plants in Vinyas, namely:
A) PLANT 1
B) PLANT 2
C) PLANT 3
D) PLANTS 4
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Product Process in PLANT 1
Raw Materials
Pick N Place Machine
Check End Process
Assembling Area
Testing Area Washing Area Packing Area
Final Inspection
Scrap Area
Quality Control Every 30 minutes quality check will take place in each area by inspections.
PLANT 2 Product Process in PLANT 2 Page 32
Raw Materials
Pick N Place Machine
Screen Printing Machine
Mechanical Assembling Area
Wave Soldering Area Hand Soldering Area Burn Chamber Testing Area
Packing Area
Final Inspection Dispatch
PLANT 2 produces large volume products. Based on projects employees are allocated in various jobs. Job instructions are given to employees in each separate chart to work in an Page 33
effective way. And in each functional area there is inspection to check the quality of each product produced by employees.
Quality Control Every 30 minutes quality check will take place in each area by inspections.
PLANT 3 Product Process in PLANT 3
Raw Materials
Pick N Place Machine Screen Final Assembly Packing Testing Scrap Printing Dispatch Inspection Area Area Area Machine Burn Chamber Testing Area
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PLANT 3 produces medium volume products. Based on projects employees are allocated in various jobs. Job instructions are given to employees in each separate chart to work in
Page 35
an effective way. And in each functional area there is inspection to check the quality of each product produced by employees. These products are exported to foreign countries.
Quality Control Every 30 minutes quality check will take place in each area by inspections
PLANT 4
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Product Process in PLANT 4
Raw Materials
Pick N Place Machine
Screen Printing Machine
Assembling Area
BGA Rework Machine X-ray Machine Testing Area
Counting & Kitting
Final Inspection
Dispatch
Scrap Area
Page 37
PLANT 4 produces medium volume products. Based on projects employees are allocated in various jobs. Job instructions are given to employees in each separate chart to work in an effective way. And in each functional area there is inspection to check the quality of each product produced by employees. These products are exported to foreign countries. Raw materials are imported to produce products.
Quality Control Every 30 minutes quality check will take place in each area by inspections.
HUMAN RESOURCE Human Resource is a distinctive approach to the employment management which seeks to achieve competitive advantages through the strategic deployment of a highly committed Page 38
& capable work force using an integrated array to cultural, structural & personal techniques.
Human Resource refers to the practices & policies we need to carry out the personnel aspects of management job, specifically, acquiring, training, appraising, rewarding & providing a safe & fair environment for company’s employees.
FACTOR OF HUMAN RESOURCE MANAGEMENT
Society changes & reforms
Strategic and operational changes
Political socioeconomic legislation technological
Corporate planning marketing etc
Human Resource Management HRM
Changes in HR composition of staff distribution of staff over: functions, positions, age distribution, competency, recruitment, departure, redundant
Changes in needs and goals of individual employees in terms of job content, meaning of work, work conditions
WOKING HOURS: In India minimum working hours is 48 hours that is from Monday to Saturday. The working hrs in vinyas is from 9 am to 5.30 pm. Page 39
HR CAPABILITIES
Manufacturing
Inspection
Technicians – 412
Inspectors – 60
Supervisors – 15
Supervisors – 8
Engineers – 03
Engineer – 01
Manager -02
Manager- 01
Testing
Sourcing
Technicians – 12
Manager- 01
Engineers – 03
Executives - 14
Manager -01
Logistics – 04
Marketing
Administration
Executives – 04
Executives – 10
Manager – 01
Manager – 02
General Manager - 01
General Manager – 01
VINYAS POLICIES:
Page 40
•
Vinyas have a several policies in different areas. The following policies are:
•
Recruitment & Selection policy
•
Performance policy
•
Compensation policy
•
Induction policy
•
Grievance policy
•
Retrenchment policy
•
Transfer policy
•
Succession policy
•
Health & Safety policy
•
Disciplinary Code &
•
Other policy
ESSENTIAL QUALITIES OF THE HR MANAGER
•
Show empathy Page 41
•
Approachable to employees
•
Communicative effectively
•
Flexible in administering policies and in their own work schedules. Policies are guidelines
•
HR Managers have two distinct, and often conflicting, roles according for a consumer products company
•
Active listen to the employees
•
Leadership- taking people to a place that they would not normally go to on their own
•
Heart of organizational leadership
•
Providing the right C (challenge, confidence, or coaching) to the employees
•
Define a vision, articulate values and infuse both every aspect of employee management
MARKETING
The American Marketing Association offers the following formal definition, “Marketing is an organizational function & a set of processes for creating, communicating & Page 42
delivering value to customers & for managing customer relationship in ways the benefit of the organization & its stack holders”.
MARKETING CAPABILITIES OF VINYAS
Manufacturing Executives – 04 Manager -01 General Manager - 01
MARKETING MIX:
•
The role available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives.
•
7Ps- Price, Product, Promotion, Place, People, Process, Physical Environment
•
Traditional 4P’s extended to encompass growth of service industry.
Page 43
Product
Placement
Price
Process
Physical Evidence
Promotion People
THE MARKET Following the market trends and realizing the importance of Spreading the pie, the following market segments has been targeted -
Medical electronics – 25%
-
Telecommunication – 35%
-
Power- 20%
-
Others- 20%
Sales
Telecommunication Power Medical Electronics Others
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FINANCE The term Finance refers to the life blood of the business. Generally, finance is referred to as the funds used in the business, but it is a flow concept & never it is used as a static concept. Therefore, finance refers to the movement of funds within and outside the firm.
The importance of finance in the field of management was earlier restricted to certain occasions likeA. Expansion of the company
B. Mergers & Acquisitions
C. Development & diversification of the company.
MAINTENANCE OF PROPER BOOKS OF ACCOUNTS AND RECORDS Every company is required to maintain books of account showing all sums received and expanded by the company, all sales and goods, all assets and liabilities and utilization of material and labour. The accounts must give a true and fair view of the state of affairs of the company. Accounts books are required to be preserved for eight years. The annual accounts, i.e., the balance sheet and the profit and loss account are required to be presented to the shareholders at the Annual General Meeting (AGM). Where the profit and loss account and the balance sheet of a company do not comply with the accounting standards, such companies shall disclose in its profit and loss account and balance sheet, the following:
1. The deviation from accounting standards, 2. The reasons for such deviation; and 3. The financial effect, if any, arising due to such deviations.
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TAX BENEFITS FOR THE ELECTRONIC INDUSTRY
India is today one of the most favourite destinations for research, design and testing. Now, it is also emerging as the next biggest manufacturing hub in Asia, which will cater to the rest of the world. Though a bit delayed, the Semiconductor Policy is in place, which is like a shot in arm for the manufacturing sector.
The Indian government has taken several steps to encourage manufacturing in the country, though much is still needed to bring the nation on par with its global counterparts. One of the major benefits that a government can offer to the manufacturers is tax cuts. This article tries to explore the policies that India has in place for the electronics industry and the tax benefits for the players in electronics manufacturing space.
The Department of Information Technology (DIT) is actively engaged in promotion of electronics hardware manufacturing in the country. It works in close coordination with various associations of the electronics hardware industry and thus, from time to time takes various measures to encourage the industry. In addition to offering various other benefits to the players, the government ----- ensures relief in duties.
“The government is taking steps to bring down the total taxation level on electronic hardware. In that direction, the general rate of excise duty (CENVAT) has been reduced from 16 per cent to 14 per cent in the Budget 2008-09 and central sales tax (CST) has been reduced from 3 per cent to 2 per cent. Excise duty on computers is 12 per cent. Microprocessors, hard disk drives, floppy disk drives, CD ROM drives, DVD drives, DVD writers, flash memories and combo drives have been exempted from excise duty. Parts, components and accessories of mobile handsets including cellular phones are exempted from excise duty. Value added tax (VAT) on IT products is 4 per cent”.
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QUALITY POLICY
Vinyas innovative technologies Pvt. Ltd. is committed to provide total electronic hardware manufacturing solutions and satisfy the stated and implied needs of customers both internal and external based on continual improvement. The process of continual improvement will be enable by human resource development and customer success.
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LEARNING AND EXPERIENCE
In this competitive world it is very much important to have experience of working in an organization and only class room teaching is not enough. Doing this project lot of learning has occurred. Learning of practical applications of theoretical knowledge by exposing to company has occurred.
The learning experience is enlisted below. 1) The company is managing good industrial relations wherein good relation between workers and the superior managers. Is visible in terms of performance in the company & Industrial peace.. 2) The company is well managed with timely business strategies. 3) Based on ratio analysis the financial soundness of the company is measured.
The following are learning experience with respect of the company We have studied the organization of the company, the strategy adapted by the company, the organization hierarchy and the way it works. The company has adopted “The participative leadership style” so it encourages to its workers to show more interest in managerial activities. In assembly department, the process is divided into different shops. It has safety measures at the work place. It has used advanced technology like automated machine in order to minimize cost . They produce quality product. Main strategic intention of the department is recycling the wastage. If any wastage comes after the recycling it is send to other company. During the adoption of new technology, management provides more training skills to the workers for the efficient work and the work position. In order to motivate the employees, the company follows an internal recruitment process through promotions. If there is any vacant job the company first searches within the organization and if right employee is not available internally then it goes for external recruitment. BIBLIOGRAPHY Page 48
Operation Management- Buffa. Human Resource Management – V.S.P. Rao Principles & Practices of Management- T.N. Chhabra Marketing Management- Philip Kloter Financial Management- Prasanna Chandra www.vinyasit.com
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