Inplant Training Report

DR. RAFIQ ZAKARIA COMPUS

MAULANA AZAD EDUCATIONAL TRUST’S

MILLENNIUM INSTITUTE OF

MANAGEMENTRAUZA BAGH, AURANGABAD.

In-Plant Training Report

In

“Varroc Engineering Pvt. Ltd”

SUBMITTED BY

SHAIKH AJJAS RAJJAK

Roll No. 95

Ghousia Mam Dr.SHAIKH SALEEM

Guided by Hon. Director

In partial fulfillment for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

Dr. Babasaheb Ambedkar Marathwada University,

Aurangabad.

for the academic year2011-2012

DR . RAFIQ ZAKARIA COMPUS

MAULANA AZAD EDUCATIONAL TRUST’S

MILLENNIUM INSTITUTE OF

MANAGEMENTRAUZA BAGH, AURANGABAD.

CERTIFICATE

This is to certify that Shaikh Abdul Hadi, student of M.B.A. (IIIrd

SEM) has successfully completed his In-Plant Training in “Durovalves

India Pvt. Ltd”.

And has submitted a satisfactory report as per the requirement of

Dr. BABASAHEB AMBEDKAR MARATHWADA UNIVERSITY in

the partial fulfillment of the Master of Business Administration

(M.B.A.) for the academic year 2011-2012.

Ghousia Mam Dr. SHAIKH SALEEM

Guided by Hon. Director

DECLARATION

I here by declare that this report submitted by me in the partial

fulfillment of MASTER OF BUSINESSS ADMINISTRATION is

genuine work of me.

It has not been submitted either fully or partially to this or any

other institute prior in other connection.

SUBMITTED BY

Shaikh Ajjas Rajjak

ACKNOWLEDGEMENT

First and foremost, I am very thankful to the lord almighty for having best

owned upon his grace, without which I would not have got the strength to complete

my mini-project.

I take this opportunity to express my deep sense of gratitude to

Dr. SHAIKH SALEEM, Director of our college for their good wishes for this

mini-project.

I express my immense gratitude to our Principal Mr. IMRAN KHAN, for his

support and encouragement for the completion of my project.

The valuable and unflinching requital support in this endeavor Mrs. Ghousia Mam,

Faculty of Millennium Institute of Management, my internal guide whose assistance

was immeasurable to the completion of this project.

Last, but not least, I would like to thank for timely assistance and suggestion

of numerous other staff of Varroc Engineering pvt. Ltd., friends and parents.

Shaikh Ejaz Rajjak

Index

Exclusive Summery

History of the Company

Varroc in Aurangabad

Company Profile

Board of Directors

Mission and Vision

Objectives of In-Plant Training

Products of the Company

Vendors of Varroc Polymer

Major Customers

Competitors

Study of Various Departments

SWOT Analysis

Suggestions

Conclusions

Bibliography

EXECUTIVE SUMMARY

“Tree cannot touch the skies, but certainly can have branches.” Varroc Group

too believes in this axiom, and has strong footholds in Polymer, Electrical, and

Metallic Divisions and exists in all important auras of Automobile sector.

Now, Varroc Group has ventured into the field of automotive components &

sub assemblies of 2, 3, and 4 wheelers in domestic and overseas market with an

objective to become the preferred quality supplier across the globe.

To survive and achieve success, any ventures need to understand the dynamics

of competition in their industries and develop skills and capabilities that give them a

competitive advantage. This is especially true among automotive industries. Customer

do not buy only products as such, they buy satisfaction, hence organization must be

clear about the satisfaction the customer is seeking and check out whether supplier is

also meeting the standard as per concern of quality, delivery & service provided so

that proper improvement is achieved throughout the supply chain.

This report is based on above mentioned problems i.e. quality standards of

existing suppliers. This report is broken down into four main parts, first its deals with

the introduction and the scope of the research, second explains the profile of the

Varroc Group followed by process or methodology adopted under the research

methodology and the review of literature and finally concluding by analyzing the

collected data.

The work environment of Varroc group was absolutely encouraging and full of

support. During my training, on one hand I learned much about Varroc, their work

culture, on other hand I got the knowledge of supply chain management.

OBJECTIVES OF IN PLANT TRAINING

For any MBA student, a learning combination of theory and

practice is an invaluable asset, as it helps in understanding the core

principles of business by way of first hand experiences. This in-plant

training is a stepping stone which will groom me for my future in the

corporate world.

Following are the objectives of In-plant training:-

To get an Industrial exposure.

To be aware of the happening in a particular industry.

To learn functioning and operations of different departments in an

organization.

To get knowledge about the working culture of the organization.

To achieve knowledge about different sectors in market for making

choice as to which go for.

To have knowledge about the huge management practices and get

the practical knowledge of what we have studied.

SCOPE OF RESEARCH

After completing this project, the researcher will get knowledge

about today’s challenging supply chain management. Since this project is

a part of researcher’s course curriculum so it is essential for researcher for

completing “Masters of Business Administration” degree which will help

researcher in building his career. It will also increase researcher’s

confidence level so that he will be able to adjust himself in such kind of

esteemed organization. This research study will help the company to

know about the existing supplier quality rating. This study will also help

the company to determine the strategy about supplier quality up

gradation.

LIMITATIONS

Stipulated time period is the main limitation of the study project.

It was very difficult to get the suitable data as supplier is scattered.

INTRODUCTION ABOUT VARROC GROUP

The Varroc Group manufactures and markets a highly

diversified portfolio of automotive components and sub-assemblies

for two wheelers, three wheelers, and four wheelers, for sale in the

domestic market as well as overseas.

The Group is structured into two separate entities: Varroc

Polymers, and Varroc Engineering, as names suggest, manufacture

polymer based and engineering based components (electrical,

electronic and mechanical) respectively.

Varroc’s rate of growth has consistently outpaced the

industry growth rate as a whole. This consistent high growth has

been fueled by their focus on operating efficiency and product

quality.

"The Varroc Group has built-up a significant presence in

quality automotive components and sub-assemblies for 2, 3, and 4

wheelers in the domestic as well as the overseas markets."

About Metallic Division:

The metallic division is the primary growth thrust area for the

Group as a whole, products currently manufactured include engine

values, hot, warm and cold forged parts, and catalytic converters. The

Division operates through six plants in India & Europe.

As in the case of all cutting edge manufacturing the core strength

of the Division lies not in the manufacturing ability but in its product

Development and Engineering expertise. This enables us to save cot and

time from the receipt of enquiry to the commencement of production.

This provides a significant differentiator compared to the other

manufactures. For example, our forging simulation software eliminates

the need for costly shop trails of new dies and also enables us to provide

an optimum weight of the forged part. It is thus possible to quote more

competitive prices without sacrificing profitability wherever fully

finished parts are supplied, the optimized forging weight facilitates

reduced cycle times on sub sequent operations again resulting in cost

saving.

The Engineering, Centre for the Division Comprised a team of over

twenty dedicated professionals who constantly work on improvement of

there existing products. Our new manufacturing Engineering facility

enables them to optimize there layouts to achieve the most efficient

manufacturing configuration.

“The Engineering Centre for supporting European operations is a

group of 10 dedicated engineers who create two to three 3-D models par

day thus reducing product development time drastically.”

- Mr. Ram

Parthasarathy

Group Sr. Vice

President,

Metallic Division.

History of Varroc Engineering:

Beginning with a venture in Aluminum Die Casting in 1985, the

Jain Group made a successful foray into the automobile industry by

manufacturing engineering products. However, with plastics making its

presence felt in different aspects of life, the Jains foresaw a vast potential

to expand its business in the booming automobile and consumer durable

industries. This far-sight enabled them to sow the seeds of successful

foray into polymer engineering. Consequently, Varroc Engineering was

setup in the year 1990. It is operating through two divisions: Metallic and

Electrical.

VISION

We are committed to serve the society by adding value to the

customers, employees, the shareholders and the community at large

in terms of:

- Providing customer satisfaction offering reliable, products and

services at competitive prices.

- Providing an environment, conductive to the development,

growth and satisfaction of employees while fulfilling their

reasonable aspirations.

- Providing adequate returns to the shareholders while returning

business growth.

- Contributing to the well being of the society and conducting

ourselves as a responsible corporate citizen known for integrity

and ethics.

MISSION

Varroc aim to become global player in the business of

component suppliers to automobile and non automobile industry

across India and select foreign markets, like USA, Europe, China

and Asian regions growing at 25% CAGR with 10% of the value of

products being exported by the year 2013.

COMPANY PROFILE

1. Name - Varroc Engineering Pvt. Ltd.

2. Address - Varroc Engineering Pvt. Ltd.

VEPL – V

L – 6/2, MIDC Industrial Area,

Waluj, Aurangabad – 431136.

Maharashtra, India.

3. Year of Establishment - 1990

4. Core Values - Sincerity, Humility, Integrity,

Passion, Self-discipline

5. Website - www. varroc engg.com

www. varroc group.com

6. Land - 45000 sq. m

7. Canteen facility - No

8. Standards - ISO 9001-2000 Certified

ISO/TS 16949:2001

ISO 14001 Certification

9. Bankers - Citi Bank, HDFC, ICICI, SBI

10. Weekly off - Friday

11. Accounts - SAP system

12. Products - Automobile Parts

13. No. of Employees - More than 1000

14. Staff - Well trained technical

and non-technical

CORE VALUES OF ORGANIZATION

We are committed to making Varroc a leader in the industry & ensuring that

varroc is always the first & most trusted choice for its customers.

SINCERITY:

To go the distance

In carrying out roles & responsibilities transparently

In expression of thoughts & feelings

In concern for the team & the company

HUMILITY:

To walk with everyone

By showing respect for others

By sharing success & achievements

By being open & positive

INTEGRITY:

To do what is right

To inculcate a culture of healthy competition

To have no tolerance for unethical practices

To adhere to commitments

PASSION:

To achieve against all odds

To proactively participate in the organization

To bring about innovation in all work

To remain motivated against all odds

SELF DISCIPLINE:

To make it happen

To take ownership for your actions

To be consistent & dependable at all times

To learn & improve everyday

Managing Director : Mr. Tarang Jain

Group Senior Vice President

Business Development : Mr. Ashok Chandak

Chief Financial Officer : Mr. B. Padmanabhan

Group Senior Vice President

Polymer Division : Mr. S.N. Patil

Group Senior Vice President

Human Resource : Mr. Anjani Koomar

Group Associate Vice resident

Corporate Materials : Mr. M. P. Sharma

Associate Vice president

Pantnagar Operation : Mr. Harsh Kohli

Group Associate Vice President

Electrical Division : Mr. Naveen Singh

Associate Vice President

Metallic Division : Mr. Prakash Khose

Associate Vice President

Operations : Mr. Vineet Tyagi

Chief Systems Auditor : Mr. Arvind Khanna

COMPANY POLICIES:

PLANT TPM STRUCTURE

Managing Director(Mr. Trarang Jain)Managing Director(Mr. Trarang Jain)

President (VEPL)Mr. Sanjeev

Kumar

President (VEPL)Mr. Sanjeev

Kumar

Business Head(Mr.Prakash

Khose)

Business Head(Mr.Prakash

Khose)

Plant Head(Mr. A.N. Pawar)

Plant Head(Mr. A.N. Pawar)

Machine Shop Head

(S.R. Kulkarni)

Machine Shop Head

(S.R. Kulkarni)

TPM ChairmanTPM Chairman

TPM Corporate Group Head

TPM Corporate Group Head

TPM Corp. Sec(Div)

TPM Corp. Sec(Div)

Cold Forging Head

(S Londave)

Cold Forging Head

(S Londave)

Hot Forging Head

(B.B.Rajput)

Hot Forging Head

(B.B.Rajput)

Heat Treatment Head

(B.R.Randave)

Heat Treatment Head

(B.R.Randave)

Quality Head(S. chanagond)Quality Head

(S. chanagond)Maintence

Head(R.K. Gupta)

Maintence Head

(R.K. Gupta)

JH – S. PardesiJH – S. Pardesi

KK – Jami RaoKK – Jami Rao

PM – S.C. JainPM – S.C. Jain

Q.M – S.ChanagondQ.M – S.Chanagond

SHE – B.B.RajputSHE – B.B.Rajput

LeaderLeader LeaderLeaderLeaderLeaderLeaderLeaderLeaderLeader LeaderLeader LeaderLeader LeaderLeader

Relationship between Vision & TPM Policy:

Sr No. Company Focus Companies Vision TPM Policy

1. Customer Customer

Satisfaction

Customer delight through zero

defects, on time delivery and

prompt services.

2. Total Employee

Involvement

Employee

Satisfaction

Safe & healthy working env.,

leading to higher morale.

3. Development Technology

Development

produce reliability

Improve product reliability

& work culture.

4. Society Contribute towards

betterment of

society

Total internal & external

customer satisfaction.

8 Pilars of TPM

1) JISHU HOZEN – Operate himself maintaining the machine

2) KOBETSU KAIZEN – Elimination of losses

3) Planned Maintenance – Achieving Zero Breakdown

4) HINSHITSU KAIZEN – Zero Defects

JISHU

HOZEN

JISHU

HOZEN

KOBETSU

KAIZEN

KOBETSU

KAIZEN

PLANNED

MAINTENANCE

PLANNED

MAINTENANCE

HINSHITSU

KAIZEN

HINSHITSU

KAIZEN

EDUCATION

&

TRAINING

EDUCATION

&

TRAINING

SAFETY

SANITATION

SAFETY

SANITATION

ADMINISTRATION

ADMINISTRATION

DEVELOPMENT

MGT.

DEVELOPMENT

MGT.

Plant Level Target 2011-2012

Area Parameters UOM 10-11 Target

11-12

Production Machine shop Overall equipment efficiency % 82 90

Forging Production per hour Nos 3880 4268

Heat treatment Output / Man Nos 2553 2478

Overall equipment efficiency % 64 75

production per day Kg 7063 7769

Quality Measure of quality rate PPM 617 <1000

Early failure PPM 191 0

Overall Line rejection PPM 58 0

Line rejection pp Nos 5 0

Inhouse rejection PPM 12000 0

Inhouse rejection pp Nos 65 0

Cost Total Consumption cost % of sales 2.70 2.50

Consumable cost % of sales 3.60 .350

Plant Level Electricity, gas & fuel cost % of sales 8.30 7.27

Contract labour cost % of sales 2.70 2.13

Freight % of sales 2.10 2.06

Delivery Delivery schedule Adherence (OEM) % 98 100

D. S. A. (SPD) % 94 100

Overall SFG inventory Days 15 10

FG inventory Days 1 2

Safety No of minor accident Nos 0 0

Overall No of major accident Nos 0 0

No of near miss cases Nos 2 0

Morale Overall No of Kaizens per man per month Nos 1.5 2

Training Man days / month / year Days --- 12

Area Parameters UOM 10-11 Target

11-12

Production Machine shop Overall equipment efficiency % 82 90

Forging Production per hour Nos 3880 4268

Heat treatment Output / Man Nos 2553 2478

Overall equipment efficiency % 64 75

production per day Kg 7063 7769

Quality Measure of quality rate PPM 617 <1000

Early failure PPM 191 0

Overall Line rejection PPM 58 0

Line rejection pp Nos 5 0

Inhouse rejection PPM 12000 0

Inhouse rejection pp Nos 65 0

Cost Total Consumption cost % of sales 2.70 2.50

Consumable cost % of sales 3.60 .350

Plant Level Electricity, gas & fuel cost % of sales 8.30 7.27

Contract labour cost % of sales 2.70 2.13

freight % of sales 2.10 2.06

Delivery Delivery schedule Adherence (OEM) % 98 100

D. S. A. (SPD) % 94 100

Overall SFG inventory Days 15 10

FG inventory Days 1 2

Safety No of minor accident Nos 0 0

Overall No of major accident Nos 0 0

No of near miss cases Nos 2 0

Morale Overall No of Kaizens per man per month Nos 1.5 2

Training Man days / month / year Days --- 12

Product Profile of Varroc Group

Varroc have a state-of-the art, environment friendly Poly Urethane Foam

molding facility for the manufacture of foam pads and seat assembly for

two, three and four wheelers. Varroc have robot control line at Aurangabad

Plant.

Installed Production Capacity is 5000 T. Per Annum. Client include such

prestigious names as Bajaj Auto, Tata motors, Ashok Leyland, Yamaha in

the domestic market and Audi, Fiat, GM, and Daimler Chrysler in the

international market.

Varroc manufactures and supply seat assembly to automotive customers,

power train manufacturers across the globe. Varroc Group has adopted the

TPM system to ensure continuous improvement and sustenance of the

quality of the products. All divisions manufacture precision high quality

parts for the automobile industry.

METALLIC DIVISION:

Engine Valves

Crank pins for motorcycle

Hot, cold & warm forged machined components

Catalytic converters for 2, 3 and 4 wheelers

Engine Valves

Engine valve is like a control system,

to admit the air-fuel mixture in the

engine cylinder, and to allow the

exhaust gases to go out at correct

timing.

There are 2 types of engine valves

1. Inlet valve

2. Exhaust valve

Both valves having three parts

Head

Stem

Groove

CRANK PINS FOR MOTORCYCLE:

Motorcycle Engine Crank Pin

that is used in agriculture, industrial

and other sectors. The Motorcycle

Engine Crank Pin offered by us is

supplied to the clients after it is

tested on different parameters.

Also, we are one of the credible

Manufacturers of Motorcycle

Engine Crank Pin.

Sometimes the crank pin function is not a round pin or bolt at all. It may instead be a

small pedal. Such is the case on some automotive clutch, brake, or accelerator pedals,

where the bottom of the driver’s foot rolls across the face of the pedal as it is depressed.

Crank pins in automotive engines may be from 1.5 to 3 inches in diameter, (38 to 76 mm)

and bear loads of a ton or more (990 kg) when the piston is pushed down by the

combustion cycle. They are ground to be absolutely smooth to present a long-wearing

surface to the piston connecting rod and bearing attached to them. Crank pin applications

in small instruments may require only 1 ounce (28.3 grams) or less of force, and may

have jeweled bearings to increase their precision and longevity.

A crank pin may be a pin, bolt, or screw, or it may be machined into the crank as one

piece. On the classic steam locomotives that ruled the tracks of the early to mid-1900s,

the crank pins were part of the large main drive wheels. Long steel rods connected the

steam cylinders on each side of the locomotive to one of these wheels. The remainder of

the drive wheel crank pins were connected by a single long beam that kept the wheels on

each side turning in unison. Crank pins on the engines of ocean going steam powered

liners can be up to several feet in diameter (approximately .5 meters) and help turn 20

foot (6 meter) diameter propellers.

MOTORCYCLE ENGINE CAMSHAFT

Motorcycle Engine Camshaft that

are easily available at pocket friendly

prices. The Motorcycle Engine

Camshaft that we bring forth is

manufactured by the knowledgeable

engineers of the company and

therefore is free from all kinds of defects that can affect its performance.

HOT, COLD & WARM FORGED:

Cold forging involves either

impression die forging or true closed

die forging with lubricant and circular

dies at or near room temperature.

Carbon and standard alloy steel

forgings are most commonly cold-

forged. Parts are generally

symmetrical and rarely exceed 25 lb.

The primary advantage is the material

savings achieved through precision shapes that require little finishing.

Completely contained impressions and extrusion-type metal flow yield

draftless, close-tolerance components. Production rates are very high with

exceptional die life. While cold forging usually improves mechanical

properties, the improvement is not useful in many common

forging applications and economic advantages remain the primary interest.

Tool design and manufacture are critical.

CATALYTIC CONVERTERS

Mechanical cranks convert

linear motion into rotary

motion or vice versa. In

general, cranks consist of

a main shaft which rotates,

a crank pin which revolves

like a planet around it, and

a crank throw to solidly

connect them. Handles or

knobs on hand-driven

cranks may either

comprise the crank pins or

spin freely on the crank

pins. Crank pins are most

often parallel to their main

shafts. For cranks that can

turn through a full 360 degrees, their crank pins must be offset to the side of the main

shaft.

Cranks can be found at work in every area of life wherever manual motion is converted to

rotary motion. Fishing reels, manual winches, meat grinders, and garden hose reels all

use cranks to allow people to easily create continuous rotary motion. Bicycle pedals

function as crank pins between the rider’s foot and the pedal crank that drives the chain.

There are two types of cranks. The first type is the continuously rotating crank, such as in

engine crankshafts or on bicycles, where the crank can continuously turn more than 360

degrees without having to reverse. The second is the partial circle crank, where the entire

rotary motion of the main shaft may be 90 degrees or less, as with steering linkages or

ventilation damper adjustments.

Employee Engagement

HR Management:

According to recent Gallup Poll, the most critical job of CEO’ is to

‘attract and retains’. Thus unfortunately you cannot retain people by money

alone, you have to engage them physically, mentally and even spiritually.

HR interventions have to be culture sensitive as well as he world moves

from ‘Classical Economy’ to ‘Knowledge Economy’. HR perforce has to

take the centre-stage, while Machine, Money and Material provided the

competitive advantage earlier, suddenly it is the collective wisdom and

knowledge of employees which is giving the sustainable edge in the

marketplace. Companies not only survive, but grow on this base. The first

major problem with earlier model was that all the above mentioned physical

assets were ‘inert’ in nature. The only ‘like asset is man’ and you requrie

their interventions to make inert assets useful for the organization. The old

dicutm that ‘it is not the machine who makes the real differnce’ really true

afterall. The second problem was that all these assets could easily be

duplicated or even bettered by any competitor within a short spam of time.

Organizations now realized, after much suffering unfortunately, that their

HR assets or systems are the only resource difficult to imitate and hence

provides the sustainable competetive advantage. Thus, increasingly HR has

to take the lead in making an internal work environment where employees

could grow professionally as well as personally. They at Varroc therefore

are leap forgging from personel and adminstration. CPA & Industrial

Relations (IR) to strategic HRM (SHRM). A well planned strategy to

introduce a High Performance Work System (HPWS) (see following figure)

is currently being implemented at Varroc.

Building a HPWS

System DesignWork Flow design, HRM

Policies / Practices / Support Technology and Systems

Linkageto

Strategy

Linking to Principles

of High Involvemen

t

OutcomesFor

a) Organizationalb) Employees

HPWS is no nuclear science but, a specific combination of HR

Practices, work structures and processes that maximize employee

knowledge, skill, commitment and flexibility. It has 4 critical strategies or

Catalysts (see in following figure).

4 Catalysts for HPWS

To PMSDirctly linkedRecognition

&Reward

Equalityacross

Company

KnowledgeUp gradation

System

InformationSharing

& Learning Culture

High Performance

Work System

Recognition & Rewards are directly linked to PMS:

Employees are helped to have better clarity via the Key Results

Area (KRA) workshops. They are empowered to make their own

targets and ensure that these targets are well-aligned with the

corporate strategies. Their well-designed Performance Management

System (PMS) then ensure that employees are assessed as well as

rewarded for meeting and exceeding these challenging KRAs. The

rewards are for individual efforts as well as team performance. Their

trust is to make every employee a success story.

Information Sharing & Learning culture:

As they are geographically spread all over India and abroad, it

becomes very important for us to develop a sense of cohesion. They

attain it through our newsletter, “Varroc Pulse” and may other formal and

informal communication channels. The top leadership meets as a group

every quarter and all critical information is shared. Employees

continuously get all the latest news about the Group so that they can take

effective decisions in their respective domains.

Knowledge Up-gradation System:

A Knowledge Management (KM) portal under construction so that

all the best practices and initiative are achieved for future use. The idea is

to build on the previous successes and raise the knowledge bar, instead of

re-inventing the wheel, they ensure that the new ideas and initiatives are

institutionalized and become a way of life at Varroc. The target is to

capture the ‘explicit’ as well as ‘implicit’ knowledge of our great human

assets. ‘Innovation’ and ‘Entrepreneurship’ are two trust areas at Varroc.

Equity across Company:

Everyone is equal theirs despite differences in designations,

compensations etc. They wear the same uniform right from MD down to the

lowest levels. During training programs everyone is treated equally in

dealing the Business / Function Heads. Work atmosphere is informal and all

the senior manager believe in ‘Open-door Policy’. Everyone has the freedom

to show dissent, but certainly in a positive and a constructive manner.

HR Transition:

“Cost Centre to Investment Centre”

Thus behind the implementation of HPWS is the idea of empowering

the employees so that they can work on their own to contribute to the

Corporate goal. The role of HR in this entire exercise is to facilitate the

nurturance of talent. To each and every subcomponents of HR Architecture,

right from ‘Manpower Planning’ to ‘Recruitment and Selection’ e.g. R&S

etc and re-engineered it with the sole aim of helping our employees to excel.

Take one of our major thrust areas e.g. R&S. They have designed a unique

Curriculum Vitae Assessment System (CVAS) which looks at a prospective

employee from ‘person job-fit’ as well as ‘person-organization fit’.

Perspective so as to indentify he best talent on whom they can best long

term. CVAS assesses a candidate on 5 major factor (Work, Experience,

Education, Communication stability and person-organization fit) which are

further sub divided into 12 different sub factors in a structured and scientific

way so as to shortlist the best. Our experience shows this to be almost 90%

accurate thus far. They also understand that there are no universal qualities

for a prospective employee as no two jobs are exactly identical. However,

we expect a candidate skills vis-a-vis the job in question, but also to have the

8 managerial competencies which they have identified over and above that

the candidate to incorporate and practice the Varroc Core Value System

namely “Passion, Humility, Integrity, Self-discipline and sincerity”

These candidates than undergo an Assessment Centre (AC) which

typically looks at the candidate through a variety of selection methods by

multiple assessors o avoid the usual subjective content of selection process.

During AC itself they also start indentifying the skills and competency gap

which are later addressed through Training & Development (T & D).

Once the candidate is selected HR helps the candidates to be placed in

the most optimal way through a well designed induction process. Idea is that

each individual should know his key stakeholders. KRAs as well as key

deliver able even before he starts working. He than goes through at-least two

PMS process during his probation period so that shortcomings, if any can be

quickly ironed out. Thus, HR concentrates on making a success story each

time a person joins.

Since HR has to make the difficult shift from a ‘Cost Centre’ to an

‘Investment Centre’ it is imperative to make HR people the true

leaders to face the new paradigms of business and management.

Accordingly “HR Leadership Conclaves”, are held every quarter

where HR people are taught to become change leaders. Both

theoretical and practical inputs are provided at such conclaves so that

HR employees have to cutting edge. Knowledge and technology at

their disposal.

Perfection

Training to be a true Varroc employee:

Training & Development initiatives are available at each stage and

cover the following modules:

- Technical Training:.

Strong internal teams of trainers offer a variety of training

programmers’ in technical areas regularly.

- Quality Process Training:

Varroc has strong focus on quality processes and methodologies.

Training on various facets of IPM and Quality Tools keep one abreast of

the latest development in his/her area.

- Management Effectiveness and Leadership Programmer:

A series of programmers on enhancing the managerial capabilities and

leadership abilities ensures that our employees are properly geared up to

focused on ‘Customer wow’ rather than mere ‘Customer Satisfaction’

- Paradigm shifts from IQ to EQ to Spiritual Quotient (SQ):

There is also a humble effort to help the employees establish the work

life balance and improve not only their IQ an EQ, but also their SQ.

They look at their people holistically and believe in the old Indian

concepts of moving from body and mind of soul. Hence, regular batches

of employees are send to attend yoga (SSY) where they are taught

different ‘yoga sans’ (for harnessing physical quotient), ‘Parnayam’ (for

refining the emotional quotient) and ‘dhyana’ i.e meditation (for

blossoming he spiritual quotient). IQ is almost an incidental bonus.

‘Karmayoga’ or ‘work is worship’ is strongly emphasized for all around

development of the individual. They strongly believe that a good deader

has to be a good human being first. This initiative has generated

tremendous enthusiasm within the organization.

Training Methods:

SSY ashram

On the job learning

Computer training sessions in programs

Lecture training methods.

SUGGESTIONS & RECOMMENDATIONS

Every company should try to match their Cash with the sale. In case of surplus

cash, it should be invested either in securities or should be used to repay

borrowings.

The company should try to prepare a proper ageing schedule of debtors. This will

help them to reduce the bad debts speed up collection efforts.

The company should try to follow a matching policy for financing current Assets

(i.e.) using both long term and short-term sources of finances.

Every bank or company should maintain their liquidity position.

The company should try to recover cash from Sundry Debtors.

The company or bank should try to pay borrowing money taken from outsiders.

CONCLUSION

The Cash Management Analysis done on the financial position of the

company has provided a clear view on the activities of the company. The use of the Cash

Flow Statement and other accounting and financial management helped in this study to

find out the financial soundness of the company.

This project is very useful for the judgment of the financial status of the

company from the management point of view. This evaluation proved a great deal to the

management to make a decision on the regulation of the funds to increase the sales and

bring profit to the company.

BIBILIOGRAPHY

BOOKS:

Finance Management – Prasanna Chandra

WEBSITES:

www.moneycontrol.com

www.financeindia.com

www.icicibank.com