Report on Crescent Textile Mills Limited Faisalabad

Report on Crescent Textile Mills Limited Faisalabad

Managerial strategyMarketing strategyMarketing activitiesDepartmentsFinance dep.Purchase dep.Export dep.MAIN STORETime officeHRMFinancial analysisIncome statementBalance sheetRatio analysisSWOT analysisFindingsSuggestionsConclusion

PrefaceInternship is an integral part of MBA program, because it gives us the

practical knowledge of what we have learnt during our study period. This report is written to fulfill the requirement of MBA degree.

Trading keeps much importance in human life. This practice started when the human beings thought to live together in the formal way. Small groups of people came together and small colonies were established. This change in living style started exchange of the things. So when the first thing was exchanged the trade was come into being.

Now a day the business environment keeps on changing everywhere. New dimensions of business are coming before us. These dramatic and dynamic changes in business world require the specialties about the all aspects of business of today. Because of these requirements, business knowledge become important and business education becomes the need of time. Only he person with latest knowledge can survive in this vast field.

But practical knowledge is also necessary along with the theoretical

knowledge. This made the internship an integral part of MBA. One can see

how the theories and knowledge are being practically implemented. This

report is about Crescent Textile Mills Ltd. I did my internship here for 6

weeks and this report carries the information about history, organizational

structure, marketing strategies and SWOT analysis of Crescent Textile

Mills Ltd.

Crescent textile mills limited a leading organization in textile sector was

assigned to me for internship. This report is about my experience and

knowledge, which I have gained during my internship program. In this

report I have made a humble attempt to express most efficiently and

effectively what I experienced and observe at CTM. I think that this report

will be really helpful for those who want to know about CTM.

AcknowledgementCountless thanks to almighty Allah, the lord of the whole universe and the greatest force behind my success in my life. I also pay my heartily to Hazrat Muhammad (Peace Be Upon Him) whose whole life is marvel and model of any person belonging to any walk of life.

I feel great pleasure and honor to express my Heartiest gratitude and deep

sense of obligation to my supervisor professor ----------------------- for his

keen interest skillful guidance, enlightened views, unfailing patience,

mastery advice, inspire attitude and valuable suggestions for the

accomplishment of present study. In fact it was not possible to bring this

work to fruitful conclusion with out his day and night persuasive and sincere

efforts.

I pay my gratitude to all other respected teachers at institute of

management sciences, Bahauddin Zakariya University,Multan. Especially

Director of the department “Dr. Muhammad Zafar Ullah”, who is an ideal

personality and it is a great blessing of Allah that we have the opportunity

to learn from him.

I am highly indebted to “-------------------“ who provide me useful information during the internship program.

I am grateful to those who have directly and indirectly contributed towards

the preparation of this assignment.

Finally I would like to thanks to my adoring parents, for their day and night

prayers, sacrifices, encouragement, moral and financial support through

out the course of study.

Company ProfileCrescent Textile Mills is a Faisalabad based textile unit. The

company was listed at stock exchange in 1951. Crescent Textile Mills is engaged in the business of textile manufacturing of spinning, weaving, dyeing, bleaching, printing, made ups and otherwise dealing in yarn and fabrics.

Flagship of large crescent group, CTM’s main area of business is in textile.

As a composite unit having ISO-9002 certification on 1997, which is

engaged in spinning, weaving, processing and is one of the largest

exporters of cotton yarn in Pakistan. The pioneer of Crescent Textile Mills

was Mian Muhammad Shafi, who belonged to Chinyot. Crescent Textile

Mills started as a weaving unit with 500 semi auto looms. Now the present

picture of Crescent Textile Mills is that it is the one of the largest textile

units in Pakistan.

Now Crescent Textile Mills has seven independent complete units of

spinning, 184 weaving sulzer looms, one separate unit of towel & one

complete unit of garments. Crescent Textile Mills has one of the largest

textile-processing units with a capacity of 2.5 million meters fabric

monthly.

The electricity consumed by Crescent Textile Mills is produced by its own

power station located within the boundary of Crescent Textile Mills. All

spinning, weaving, towel, processing and garment units are located within

the same boundary.

The total no of employees are more than 5000 from which 2000 employees are staff and on permanent basis. Factory runs complete 24 hrs a day and employees work in three-day and night shifts of 8 hours.

Crescent Textile Mills was established in 1951 as a private limited

company. Crescent Textile Mills was converted into a public limited

company in 1958. The crescent group effectively controls the company. In

the context of Pakistan, Crescent Textile Mills stands out for the composite

nature of its activities. Superior quality standards with ISO 9002 certificate

management is committed to expand into the higher value added areas of

industry.

Crescent Textile Mills is playing a vital role in the development of Pakistan

specially by earning a huge foreign exchange through exports. Crescent Textile

Mills sells more than 80% of its products to the foreign market. In 1992-93 &

1994, the Crescent Textile Mills was awarded the President of Pakistan Trophy

for export, given to the largest exporter from Pakistan in any category.

Historical PerspectiveThe Crescent Textile Mills Ltd was incorporated and set up in FSD as a public limited company. It is one of the fist few textile mills to be established in the country, and also the first unit of the crescent group. The Crescent Textile Mills Ltd is situated on Sargodha Road, at an area spread on 115 acres of land; and from the very inception, it had been designed as an integrated unit. It commenced its business operations in 1951 with 50316 spindles, 500 auto looms and finishing capacity of nearly 4000 meters per day. In the mid 50’s sponsor of the company decided to divert its production exclusively towards exports and became the pioneer company to have commenced export of cloths fromPakistan in 1956.With the passage of time, the company grew in stature and its sponsors became to be known as crescent family. The period up to mid 60’s was also the period of growth of the family businesses as the sponsors/ crescent family diversified their investments to more textile companies, sugar mills, jute mills, larger trading houses, shipping etc. and so the crescent family came to be known as the crescent group.As year’s road on, the Crescent Textile Mills Ltd continued to expand its exports and earned the reputation of being the leading exporter of yarn, fabric and various products in the home textile sector. The company’s

prosperity broad about a better quality of life for those who worked for it. The company provides accommodation for its employees, staff and executives as well as plays grounds, parks shops, community centers, and industrial homes for their welfare. It insures that its work force is happy and their families are well cared of.In its desired to forge ahead in the competitive field of the home textile sector, the company has made investments for updating and modernizing its machinery and equipment and insures training of its employees by hiring and contracting its experts in textile for its workers for its staff.As well as sending executives to recognized institutes in the country and abroad for specialized training in management, accounting, IT and technical training. It was the first textile company to introduce quality circles even at the worker’s level and by mid 80’s had graduated to total quality management and Deming’s 14 points. It was also the first composite company in Pakistan to obtain ISO 9002 certification and has recently been certified for “ Oeko-texStandard 100”.The main architect of the sales in the marketing of the Crescent Textile Mills Ltd has been its Chief Executive, Mr. Muhammad Anwer, who has led the company for the front. Besides been awarded every year its highest sales in yarn and cloth, the C.E has also been recognized as “ the business man of the year” twice in the year 1993,1994 and 1994,1995 by the Pakistan federation of Chamber of Commerce and industry. The company has also been awarded the president of Pakistan export trophy for three consecutive years in the mid 90’s.For the year ending in September 2002, the company had generated export sales revenue of $60.94 million, of which clothe (beached , dyed or printed) accounted for nearly US $ 33.95 million; made ups in the textile sector accounted for US $ 14.16 million; yarn sales accounted for :Us $ 10.31 million and towel sales accounted for US $ 2.52 million.

The Crescent Textile Mills Ltd has been introduced as a public limited

company under the company’s ordinance on 1 May 1951 and has quoted

on the stock exchange. Crescent energy and SAC are fully owned

subsidies of the Crescent Textile Mills Ltd. The share break down of the

Crescent Textile Mills Ltd is:Crescent family and group companies 51.57%Public and foreign institution 48.43 %List of board of directors is shown below:Mr. Muhammad Anwer (Chairman& Chief Executive)

Mr. Anjum M. SleemMr. Hamayun MazherMr. Khalid BashirMr. Muhammad ArshadMr. Nasir ShafiThe company has signed a joint venture agreement with Green Wood mills Inc. USA. To set up a composite Denim garment-manufacturing unit at Bahuman, Dist. Hafizabad under the name and style of crescent green wood limited.

THE CRESCENT GROUP

The Crescent Textile Mills is a part of Crescent group. Which has established

about 30 companies in various part of the country. The major sector of the

group is an under.

Listed Companies: Crescent textile mills limited

Crescent Knitwear limited

Crescent sugar mill & distillery limited

Shakargani mills limited

Crescent boards limited

Crescent investment bank limited

Shams textile mills limited

Elite textile mills limited

Crescent jute products limited

Crescent leasing corporation limited

Crescent steel and allied products limited

Jubilee spinning and weaving mills limited

Pakistan industrial leasing corporation limited

Premier insurance Co. of Pakistan limited

Unlisted Companies: Shams food products Limited

Crescent ventures International Limited

Crescent Bahuman Limited

Crescent greenwood energy Limited

Crescent energy Limited

Crescent powertec Limited

Private Limited Companies: Crescent group engineering (pvt.) Limited

Crescent (pvt.) LimitedS

Crescent software products (pvt.) Limited

Riaz and company (1962) (pvt.) Limited

Jhang electric supply corporation (pvt.) Limited

Crescent business management (pvt.) Limited

Cresent group (pvt.) Limited

Crescent group services (pvt.) Limited

Elite energy (pvt.) Limited

Juiblee energy (pvt.) Limited

MISSION STATEMENT

Mission of Crescent Textile

MillsMission of Crescent Textile Mills is “To produce superior

quality products to face competition in the international

market and to train the staff at the world-class level to

enhance the maximum shareholders value”

CORPORATE OBJECTIVESCORPORATE OBJECTIVES

Following are some main objectives of Crescent Textile Mills: To arrange timely production and maintain quality goods for entire

satisfaction of the customers

To make Crescent Textile Mills a first choice for the foreign customers

by improving its quality and services. To extend exports all over the world through better services. To establish and develop excellent working environment in the

departments. Computerization Incline a sense of civic responsibility in the staff members To achieve company’s objectives Implementation of ISO-9002 standards To provide the employees a friendly atmosphere to increase their

commitment and loyalty towards their organization.

MANAGERIAL&

MARKETINGSTRATEGIES OF

CTMManagerial Strategy Of C T

MAs it’s major competitors are in the country as well as in the foreign

markets, while concerning with the countrywide competitors, there are major competitors like Nishat Textile Mills Limited, Kohinoor, Gul Ahmed, M.Farooq, Chenabtextile mills limited, A.M textile mills limited along with major competitors in European market.

There is strictly needed a strategic focus to face the present intense

competitive situation. The market for textile products is becoming more

competitive every year. The customers are emphasizing on quality over all

other thing and can easily search the most cost-effective supplier anywhere

in the world. Keeping this in mind, Crescent Textile Mill’s focus has been on

meeting its customer’s demands and requirements, improving its

competitiveness, increasing productivity, and enhancing its existing quality

control systems. So it has emphasized on the implementation of the

developed strategies.Every element of cost and quality is continually scrutinized and

measured according to worldwide standards. Each unit is independently analyzed as a cost center to make cuts wherever and wherever possible. The Quality Assurance department has been further strengthened with the addition of trained staff and state-of- the –art equipment.

Marketing strategy of C T MAlthough it may be the duty of the government to ensure availability of cotton at a reasonable price, it is the exclusive responsibility of Crescent Textile Mills to implement the total quality management concept. If units are able to minimize wastage, optimize cost of production, improve quality standards, ensure product diversification and learn to market the finished products, no country can compete with Pakistan.Taiwan, Hong Kong, Korea, Japan, Bangladesh are the large manufacturers and exporters of value added textile products, but are dependent on Pakistan and other countries for their requirements of cotton, cotton yarn and fabric. Their edge is in finishing good quality fabric; producing attractively designed garments maintaining quality standards and abide by delivery commitments. These countries also follow different marketing strategies, while the Pakistani manufacturers first produce a product and then try to locate a customer; other countries produce what the importers demand.Not only this, buyers are often willing to pay a premium for odd specifications, short delivery time or immediate commencement of shipments of small lots, extra care in meeting specification and better quality standards, using better quality package which may not cost as much as the premium offered.

Lately, the manufacturers of yarn having pragmatic thinking and

realizing the tough completion have started producing dyed cones. They

have not only tabbed a new market segment but also get better return. Isn’t

it not innovative marketing?Crescent Textile Mills have to realize the harsh reality that the days of

cheap domestic cotton are over, the import of textile products is being gradually open and quota regime will be phased out gradually. They know their capabilities as well as shortcomings, products they can produce and the products the foreign buyers demand, we have to plan today how would they market their products is the days to come.

MARKETINGACTIVITIES

Supply and trade informationRaw cotton is purchased directly from ginning factories or import on

cash payment basis, the company carries around 6 month’s supply of raw

cotton at time. The buffer stock for raw cotton is 25-30 days during lean

months. Purchasing usually starts at the beginning of the season and the

company emphasis on acquisition of the best possible quality of cotton

each year. Cotton purchasing for on season lasts for about 4-5 months. But

during last 2 years purchase process continued throughout the year.Spare parts and dyes, chemical etc are imported. Dyes and packing

materials are purchased locally. The credit period for local purchases is 45 days and 15 days on dyes and packing material respectively. Polyester fiber is purchased from local manufacturer of 120-150 days basis, from ICI Pakistan Limited.

Distribution and selecting terms

The company exports are the major portion of both its yarn as well as

cloth production. In the local market yarn is sold directly to brokers who in

turn sell it to other mills for further processing. Grey fabric is sold on cash

basis. Local sales account for 25% of total turnover and are made on

cash/credit basis.

Managing marketing information

Marketing consist of people, equipment and procedures to get, sort, analyze, evaluate and distribute needed timely and accurate information.

Internal record systemsThe basic information system used by marketing managers is the

internal record system. It includes order to payment cycle, sales reporting system prices, inventory level etc. By receiving these informations, managers can spot important opportunities and problems.The Crescent Textile Mills is maintaining its internal records by keeping order to payment cycle. In this system sales/marketing department keep order up-date total order quantity, balance quantity etc. excise deptt. Prepared invoice under the instruction of sales dept and goods are sent to their respective orders by special delivery.Every firm has maintain its marketing intelligence system for the feed back from customers and agents etc that what has been happening in the market.

Marketing intelligence system is a set of procedures and sources used by

managers to obtain their every day information about pertinent

development on the marketing environment. The production staffs of

Crescent Textile Mills visit the end users for gathering information about

their product results and they visit to end-user to solve their problems.

Marketing research systemsEvery manager is required to conduct marketing research, formal

research on specific problems and opportunities; they conduct a market survey and product preference test and a sales forecast.

Market demandCrescent Textile Mills measures demand by adopting the following method:

Sales representative/agent collect data of total yarn demand. Specific demands of particular count are determined and calculate

the number of users of said product is calculated.

Then total demand is calculated and Crescent Textile Mills plans to get maximum share from the market demand.\

Marketing Mix

Marketing mix is the marketing task that the firms are to be required its

objective in the target market. The marketing mix consists of every thing the

firm can do to influence the demand for its product.

The many possibilities can be collected into four groups of variables known as

the “4p’s”.

1- Product

2- Price

3- Place

4- Promotion

ProductCrescent textile mill produces yarn, gray cloth and high quality fabric. Their

products play an important role in the building the goodwill of the CTM.

CTM exports more than 80% of its products and remaining they sell in the

local market. Main products of CTM are yarn; Gray-cloth, bed sheet and fabric

etc. all the products are produce according to the requirement of customer

order. CTM Ltd. Also has the distinction of being the only private sector

company in the textile sector, which has entered in to the partnership with

UCHINO, produce and export towels.

The main products of CTM are as follow:

Yarn products Fabric products

YARN PRODUCTSTwo types of yarn products

1- Cotton Yarn2- Poly-cotton Yarn

1)- Cotton Yarn 20/1 also called 20 single

24/1

30/1

40/1

Some of them are carded and some of them combed.

2)- Poly-cotton Yarn 21/1 blended ratio 76:24

30/1 blended ratio 68:32

FABRIC PRODUCTSThey can also be distinguished under two heads:

1-Gray Fabric or Cora2-Other Fabric (processed)1)- Gray Fabric or Cora

20*20/60*60

30*30/76*68

40*40/100*80

12*10/60*60

22*22/60*60

24*24/68*63

2)- Other Fabric (processed) Printed Fabric

Dyed Fabric

Bleached fabric or white

STITCHED ITEMS / MADE UPSOther finished products of CTM are as follow:

Bed Leering

Home Furnished Products

Bed Sheets

Quilt Set

Kitchen Knap Kin

Kitchen Towel

Kitchen Apron

Blanket Cover

Duvet Cover

Curtain

PRICINGPricing is the amount of money that customer have to pay to obtain the

product. The price policy of the company should be in such a way that it

should produce a reasonable profit for the company and satisfy the customer.

There are two types of costs:

Fixed cost Variable cost1- Fixed cost

Fixed cost is the costs, which remain always same whether, are produce large

quantity. Therefore, companies always try to use there full capacity of

production because with increase in production the fixed cost decreases.

2- Variable costPer unit variable cost rises as the quantity produced decreases. Following

factors are included in variable cost:

Dyes and Chemicals

Transportation

Cost of material

Strategies In Price FixingThere are two types of price fixing strategies

Directly to customer Indirectly to customer

1- Directly to customerIf they sell their product directly to the customer then they fix price in such a

way

Fixed cost + Variable cost + Desired profit2- Indirectly to customer

If company sells their products indirectly then they fix price in such a way

Fixed cost+ Variable cost + Desired profit + Middle man’s commissionIn this case the profit margin depends upon the quality and condition of the

market. If the market is new then the price will be new to attract the customers

and compete the existing competitors.

PRICING PROCEDURES1-Pricing Procedure For The Local or National MarketCTM sells more then 80% of its products in the foreign market. They sell only

extra quality left from the foreign order or defected product in the local market.

They call the tenders when they want to sell the product in the local market.

They sell to that person whose tender price will be high. Sometimes CTM sells

on its products at cut-price. Because, when some extra quantity is from the

foreign order they sell at cut price because, they have already charged their

cost from the foreign customer.

2-Pricing Procedure For The International MarketPricing procedure of CTM for export is different from the local procedure. They

keep in mind certain factors before changing the price in foreign market.

When any customer wants to purchase the products, after negotiation they fix

the price. Because, there are certain other factors are also included with fixed

cost. The important factors are quality of.

Pricing procedure for export

Crescent Textile Mills has following procedure for exports

InquiryCustomer inquiries are received from telex, fax and letter. They are directly

sent for approval to CE and after approval sent to concerned department.

CostingCosting sheets are prepared for CE is approval. In the absence of CE,

department in charge approves price. If both are not available then section

in charge is allowed to quote the price.

ApprovalCE gives the approval or may give other price to be offered.Contract review & check sheetSection in charge takes following steps before issuing a contract:

Prepare contract review check sheet The requirements are adequately defined and involvement’s of

production areas. In house/out side have the capability to meet the order requirements.

After getting approval of costing and review of customer requirements, prices are quoted to customer for confirmation. After confirmation of prices by customer, sales contract is issued to the customer with complete detail of construction, width/size, price, quantity, delivery, payment terms etc. and the cloth order is sent to relevant department.

Purchase orderPurchase indent folder are received from customer pertaining to different contract booked sectional in charge check and see any discrepancy of the contract if any is found, then it is come to the knowledge of the customers for amendment.

Grey demandGrey demand placed to the following department

To export sales section for new order or revision To production planning and coordination (PPC) they are coordination

between export and processing department. The stock management for updating stock position

Inspection Grey cloth for issuance of Grey to processing

Strike off preparation & approvalCustomer sends their designs either as on art paper; as paper sketch or fabric cutting. From these cuttings the strike off is made.

AssortmentOnce customer is satisfied with strike off, the order quantity is assorted with design.

Letter of creditL/C is established and after receipt of L/C these are checked with regard of ordered goods by the sectional in charge and discrepancies in L/C are noted and the customer is informed for amendment.

Dispatch o f goodsDispatch able goods detail along with samples received from folding department. Each section verifies quantity of goods to be dispatched, they intimate to S &D section to dispatch goods.

ShipmentShipment & dispatch is responsible for all documentation and shipment of goods by air and sea.ISO department prepared management information system report.

Customer complaintsAfter receiving the goods if customer found any defect, he complaints the same to the concerned department in charge. Sometimes sent the defective sample for review.

Place / DistributionCTM exports more then 80% of its products. They are using two types of

channels of distribution in export their products.

Direct ChannelCTM Customer

Indirect ChannelCTM Middle man (agent) Customers

As most of the products of CTM are exported, so they use the different modes

of transportation to transfer the product from CTM to the customer country.

Mostly CTM exports its products through ships. There are other modes of

transport also being use:

Trucking Companies

Airlines Companies

Shipping CompaniesCTM exports its products to all over the world but the major countries are as

follow:

U.K

U.S.A

Japan

Canada

Australia

Germany

Holland

U.A.E

Srilanka

Egypt Malaysia

Promotional StrategiesThe CTM has not any promotion point its products. Because the demand of

their products in the world is very high. We can easily judge them from their

work. Our export figure is varying high as compare to any individual company.

Sources Of CommunicationCTM uses following sources of communication

Textile exhibition

Personal visit to the customer

Customer visit to the CTM

Fax, Telephone, Mail, e-mail etc\Quality policy of the company is as under

It is the policy of CTM to provide products and services that consistently meet

the expectations of our customers. Encourage total employee involvement in

the never-ending effort to improve the quality of our products and services.

All employees are responsible for the quality of their own work. All have the

authority to initiate action to prevent the occurrence of product nonconformity.

Managers at all levels in the organization are responsible for quality

improvement activities within respective areas.

Top management will provide leadership and direction of achieving quality

improvement by interpreting policy, recommending strategies, organizing

resources, and assisting managers in the development and implementations

plans.

Quality ObjectivesThe quality objectives of CTM are as follow:

To maintain the implemented ISO 9002 quality management system

To have a strong quality check at all stages of production thus

paying a way to have a better overall quality of the product and

reducing overall rejection.

To achieve the sales target.

To improve the delivery system and to eventually achieve 100% on

time delivery.

DEPARTMENTS

Marketing DepartmentMarketing department of CTM for the execution of orders as well as marketing of the products in foreign countries. The main objective of the department is to generate the export business with quality products and better services as well as to provide efficient after sales services.Division Of Marketing DepartmentMarketing department of CTM has two divisions as following

Export Sale Local Sale

Now a day, export sale &local sale departments are under logistics but work coordination of export marketing.

EXPORT DEPARTMENTCTM has major business of exports, round about 80% of total sales are from exports. As export market of CTM is divided geographically into four segments, so to deal each sagment a separate group op person is allocated who are responsible for all the orders of that specific territory / sagment.

Export Asia Africa (EAA) Export U.S.A & Canada (EUC) Export Yarn &Towel (yet) Export Europe & Cyprus (EEC)

The process of flow of work in these sections of export departments is same, so I have explained generally the process and functions of export department.

The export department is situated within the finance department. There are

a lot of workers, which perform different functions.

ObjectivesFollowing are objectives of export department:

To survive in the world market To earn foreign exchange for the development of the country. Increase export for the growth of the company and the country.

To increase exports for the sake to obtain incentives and privileges of excise and taxation

Increase exports for obtaining the optimum reputation in the foreign markets

To get the self-reliance and prosperity level of the company.

Functions of export departmentFollowing are the main functions of export department

Getting orders from aboard Costing Making contracts Order completion one per sample Delivery of goods

PROCESSWork in export is divided into four sections geographically for proper

distribution and handling of work. Following is the brief process for all

sections of export departments.Finding Of CustomersGeneral manager marketing and manager marketing of CTM makes

contact with the potential buyers through e-mail, telephone, faxes to get

orders.

Similarly marketing manager along with the Chief Executive attend different

international trades fairs and present their products to get the buyer

attention and order.Making ContractsMarketing department of CTM takes following steps to make a contract with

the buyer:

1)- InquiryCustomer’s inquiries are received via telex, letters, e-mails or during

meeting with the customers. Inquiry documents are directly sent to CEO for

review and comments; if any absence of CEO, the inquiry documents are

send to the GMM for review. After CEO review, these are sent to the

department incharge who after reviewing distributes these documents to

the relevant staff looking concerned marker segments.

2)- Feasibility and Availability Of GoodsConcerned sectional incharg reviews the customer’s requirements completely before quoting price to customers and ensure that:

The requirements are adequately defined Mill has capability to meet the customers desire or requirements. Conformation of raw material in house / from outside.

3)- Costing The ApprovalsAfter conformation inside / outside, sectional incharge prepare costing sheet of department incharge review and approval of CEO / GMM.CEO / GMM gives acceptable price or may suggest new price on costing sheet. In absence of CEO / GMM gives acceptance. if both are not available then the department incharge is authorized too.

4)- Quote Price Offer To The CustomerAfter getting the approval of costing and review of customer requirements,

price is quoted to the customer for conformation.

5)- Customer ApprovalCustomer accepts offer or may reject, if reject then the costing sheet again

repaired and the approval procedure repeated.

6)- Contract Review And IssueAfter reviewing the confirmation or purchase order, concern staff issues

contract after complete review and note it in export order register.

7)- Amendment To ContractOnce the contract is established for quality, quantity, price and delivery. Any request from the customer for change in assortment of design or increase / decrease in quantity resets, i/c terms, price and delivery.Customer may ask for any of the following changes.

L/c terms Quality increase / decrease Assortment of design Color ways

Shipment schedule

8)- Review ActivityAfter receiving the amendments by customers, possibility of amendments is

reviewed of it is not possible then regret with the customer. Other wise

impact of changes in price, delivery communicated to the customer and its

copy is retained in the file for future references. The amendments copy with

regards to quality assortments, shipping or packing instructions and

shipment schedule is send to the department for implementation and

follows ups.

9)- Checking ArtworkAfter finalizing the contract and making entry in export order register, now concerns A.M receives art work for the customer for processing the clothes per customer’s desire.

Artwork contains no of colors and designed used for the final cloth and also

the packing, labeling and stitching instructions as well as telling about the

sample size.

10)- Making Strike OffWhen A.M receives artwork then he gives instructions to the concerned production staff to prepare strike off (sample) as per artwork send by customer.After completion of strike off, these are checked by concerned A.M and are delivered to the customer after the final approval, so the production on large scale can be started.If the customer approves the sample the export staff order of large production. Other wise they only receive the cost incurred on the preparation of the strike off.

Instructions To All Concerned AreasNow the concerned A.M of export department send instruction to all the

concerned areas through proper documents, e-mails and all the available

sources for the completion and delivery of orders.

These functional areas are following:

PPC (planning, production and control)

ES (export sales)

Production department (spinning, weaving, processing, garments

and folding)

S&D (shipment and documentation)

EF (export finance)

Planning, Production & ControlFunctions:

Stock update

Arrangement of fabric and yarn

Follow-ups for order completion

Checking and update the stockWhen export department gives instructions for large productions for all

functional areas including PPC.

Now the duty of PPC is to check the surplus stock available in godowns.

If the gray cloth or yarn required for the completion of order is present,

then PPC gives instructions and supply material to the concerned

department to complete the period with in specified period and after

providing material stock is updated in the daily stock reports.

Instructions to grey procurement departmentIf the yarn or grey cloth is not available in the godowns then PPC has

the duty to inform export sales department to arrange grey cloth for the

completion of order within specified period through e-mail and proper

documentation. One copy of that is kept for the future references.

Maintaing record of machines PPC also maintain report that shows daily record or orders, which are

being processed on all available machines in spinning, weaving,

garments department and also records of machines which are busy and

which needs orders.

Follows-up and order completionThe PPC department is responsible to get orders completed from the

concerned production department with in specified time, so they make

continuous follow- ups in the production department to get order

accomplished and after ward they inform the export department about

the completion of orders.

EXPORT SALES DEPARTMENTFunctionsArrangement of grey cloth and yarn for the export orders.

DemandWhen the grey procurement department receives demand from PPC to

purchase grey cloth or yarn, now it is their responsibility to arrange

required quality and construction of cloth. So they adopt three ways:

Purchase of grey cloth from the local manufactures

Providing own yarn and manufacturing grey from outsider with

that yarn.

Using CTM own grey and yarn.

Entry in register and computerAfter receiving demand grey procurement department enters the

demand in to the register and computer and 1 copy of these reports

send to the CEO

Contract with local partiesNow production department contract with the different mills to provide

them required construction of grey cloth either with their yarn or yarn

provided by CTM.

If the party agrees to take yarn from CTM and ready to make cloth with

that yarn on their machines that is a power loom or auto looms then a

contract is finalized after setting a suitable price with the approval of

CEO.

Following are the some parties

Sac textile

Tanvir gull textile

Manzoor textile

QuotationAs the primary purpose of export sales is to manufacture the fabric from

subcontractors at conversion rate by providing the yarn from mills or

outside. These conversion rates and per meter yarn weight provided by

the mills are quoted by the party to get business. At the offer of export

sales department, the vendor and subcontractors send their quotation to

export sales. The offers are made to those vendors that are already

working with CTM.

Comparative reportAfter receiving of quotation the comparative report is made and sent to

CEO for approval. In that report all the comparison is made

subcontractors according to the rate offered by them.

Price ApprovalCEO gives the price approval at the quotation of vendor or

subcontractor. If the price quotation is rejected it is negotiated with party

again and revised quotation is send to CEO for approval.

Contract IssueAfter the price approval by CEO, a contract is made including all the

terms and conditions settled with party. The contract contains the name

of party, the date of issuing the contract, quantity and quality of fabric,

counts and number of bags of yarn. Per meter weight in lbs of yarn.

Yarn conversion rate and the delivery rates of fabric.

The Yarn Issued To Party

This procedure takes place when exports sales section provides the

yarn to the party / contractor for construction of cloth. The expected yarn

is calculated in order to make a specific quality and quantity. After that a

dispatched schedule is prepared in order to provide the yarn to the party

for making the grey cloth. The delivery of yarn to the party is made

according to the dispatch schedule. The finished grey cloth delivery is

also set with the party according to the export requirements.

Maintaing record When a contract is finalized then production department is responsible

to maintain record of yarn, which is supplied to the parties and grey

cloth, is received against that yarn from these parties. Similarly it also

maintain the record of CTM yarn and grey delivery to PPC department.

For this purpose the production department updates two reports daily

and submit them to CEO.

Balance to book report

Uncovered goods report

Arrival Of Finished Grey ClothThe goods arrive from party according to the delivery schedule. The

goods are sent to mills grey cloth godowns.

Inspection report to export sales sectionAfter receiving the cloth in grey cloth godowns its inspection is made

and inspection report is prepared. On the basis of inspection report the

cloth status report is prepared. The report is in triplicate form and sent to

export sales department. One copy is send to party and other is sent to

the sales account and third is retained to the office record. The quantity

of grey cloth is entered in party wise register according to the inspection

report.

Rejected goods to partyThe rejected goods are returned back to the party. The rejected grey

cloth is bought from the party only after the approval of CEO at reduced

rates as compared to normal rates. Rejected grey cloth is used in

printing.

Orders booked by the customers considering for end use. The rejection

can also be sold in the local market.

Bills from PartyBills are received from the party against manufacturing or purchasing of

grey cloth. The quality, quantity and the width verified in view the

contract made with party by export sales department. Verification of the

bills is made through the records (that records is maintained in party

wise register and relevant files). After verification the bills are sent to

sales account department for payment.

PaymentThe payment is made after the approval of CEO in the form of cheques.

The cheques are issued in favor of party against the execution of

contract.

Export documentationIn the modern world all countries whether developed or under developed

are pre-occupied with problems of selling merchandises in foreign

countries. When goods are exported a number of documents are to be

prepared unless the overseas trade is properly documented, the exporter

cannot receive payment and the importer cannot make it.The major documents involved in the export process or in the foreign trade are:

Invoice/indent Letter of credit Transportation documentation Packing list Certificate of origin Certificate of inspection Procedure list

Form ‘E’

Bill of exchangeBefore going into elaboration of these documentations, one must know all about them. No person can export any goods until he is registered as an exporter with Director general of Export Promotion Bureau.

Invoice/indentA commercial invoice is a commercial document by which the seller charges the goods to the buyer. The in formations, which this document provides to the exporter and the importer, are as follows:

Date Invoice number Name and address of the buyer and the seller Order/contract number, description of the goods, quality, unit price and

the total amount of goods exported Terms and conditions of the payments Shipment details Certification on the invoice

Letter of creditThe terms of letter of credit is defined as:“The confidence of man in man”

In financial and commercial transactions this confidence is displayed

by the willingness of a creditor to grant to a debtor time for payment of the

debt either on the oral or written assurance of the letter that such payment

will be duly effected.The procedure and the parties involved in the letter of credit are as follows:

Buyer Opening bank Advising and negotiating bank Shipper/Beneficiary Contract of sales

Transportation documentInternational trade involves the movement of goods from the warehouse of

the exporter to the warehouse of importer. There are several modes of

transporting goods and several types of documents involved in

transportation process

Mode Carrier Transportation document

By sea Shipping Co. Bill of ladingBy air Airline Co Air way billBy post Postal Services Post parcel receiptBy rail Railway service RailwayBy road Trucking Co Road way billThe transportation documents is the most important document because it is the evidence the goods are being transported and it enables the importer to obtain the delivery of the goods in due course.Transportation document can be classified into two main types, which are as follows:Negotiable documentThese are the documents whose title can be transferred from one person to another person. The delivery of goods can be made to the final or existing holder of the document.These include bill of lading, railway receipts etc.Non-negotiable instrumentsThese are the documents where the title of the goods in not transferable. The delivery of the goods is only made on the names of the consignee on identification.

Parties & documentation involved in exportThe carrierThe firm, company or authority engaged in the business of the transportation the goods, such as steam Ship Company, airline comp etc.The shipperThe seller of the goods who wants to export his goods from his country to another country is called shipper.The consignee

The consignee is one to whom are the goods are to be exported. It may be an international bank or the buyer himself.Certificate of originIt is a signed statement providing evidence of the origin of the goods. These are often required by the authorities in the importing countries in order to satisfy themselves that the goods originates from a country from which imports are permitted or to support a claim for the professional import duty.Packing listIt is a document, which lists each package and shows the contents of each package including in particular shipment.The following are the important features of packing list document:

It must list each package by number It must show the contents of each package It usually shows the weight and measurement of each package.

Form EIt is a document issued by the exporter bank on a written request signed by the authorized signatory. Through form E State Bank of Pakistan exercises absolute control over export process.

Form E will be issued the following by beneficiary bank: Known customers Regular exporter Regular customer but exporting first time

Bills of exchangeBills of exchange is legally defined as,” An unconditional order in

writing, addressed by person to another, signed by the person giving it,

requiring the person to; whom it is addressed to pay on demand or at a fix

or determinable future time as uncertain in a money or to the order of a

specified person, or to the bearer.

Submission to export financeAfter competition of these entire documents before the mentioned date,

these documents are finally checked in the S&D department. And are

handed over the export finance department to submit them in the bank,

which send them to the buyer bank and finally the documents are received

by the buyers.

Quota management

This is also a separate section with in shipping and documentation

department, which is responsible to manage the purchase and sales of

textile quota.

Textile quota is a restriction from certain countries like USA, and some

European countries like turkey. Pakistan can not export more then that

fixed limits in these quota countries.

This quota is distributed in different textile organizations including CTM

through textile associations like APTMA on the basis of yearly

performance.

The quota section in S&D department of CTM perform following functions.

Keeps the country wise record of total quota available to the year

to the CTM.

Updating the record that how much quota is used and how much

is remaining.

If there is excess of quota for the year then they sell it to the other

exporters.

If there is need for more quotas then they purchase from different

exporters and associations like APTMA.

Finance departmentThis is the major department of the company. Finance department

is located with the factory. It prepares different kinds of financial reports

and gives information to management for decision-making purposes.

Finance department prepares the Income statements, Balance sheet, Trail balance, Cash

flows, Production report for the whole month, stock taking report yield comparison report

etc. these all reports are helpful for the management to make production plan, financing

decisions and other important matters. The head of the department in finance manager. He is

a chartered accountant.

Function of finance departmentFollowing are the main functions of finance department

1. To prepare monthly and half-yearly reports

2. To keep the record of inventory and stock

3. To maintain a liquid position

4. To maintain adequate cash to run the operations of business

5. To reconcile the bank statements

6. To make payments to the suppliers

7. To maintain debt and credit balances of the customers

8. To deal with the sales tax and income tax departments

9. Preparations of vouchers

10. Prepare profit and loss accounts & income statements

11. Keep record for the payment of salaries

Components of finance departmentFinance department consists of the following sections:

Payable, Contractors, Misc.

Bank negotiation & reconciliation

Right share

Store costing

Sales account costing

Excise

Audit

Payables, contractors, misc.In this section usually payables are paid to the suppliers of all goods including stationary,

maintenance goods, cement etc. payable is made according to the contract and according to

the instructions of the CEO. Bill of the supplier, inspection & receipt note, store purchase.

Journal voucher is received after inspection by store dept to this section and then bill is paid

according to the due date.

Bank negotiation & reconciliationThis department starts working when documents reach back to Faisalabad office. Documents

are recorded in document receipt register and in bank register.

Payments are received by two methods:

L/C = Sight, CDA, 120 days, 90 days

Contract = Bill of exchange

If payment is required as according to L/C or contract without factoring then bank

charges the service charges and make payments on the due date. If post shipment payment is

required then bank works as a factor and makes payments after deduction of mark-up.

A report is given to the G.M finance, on daily basis about the customer and payment

date. He makes decision either to grant discount to him or not.

Right shareRight share are issued when there is a need of long-term financing. The directors in

the Board of directors meetings issue right shares. These are announced in the newspapers,

stock exchange and letters are issued to authorized banks for collection of money. Foreign

investors are called Non-Resident and special letters are issued to non-resident shares holders

to inform about right share issuance. State Bank of Pakistan approves the issuance of right

shares to the non- residents.

DividendDividend is decided in the board of directors meeting and percentage is decided on each

share. Crescent Textile Mills posts dividends warrants to share holders at their home

addresses. In reply, shareholders apply for dividends. Checks are issued to the shareholders

after checking their records in register.

Store costingInspection receipt note, the store costing section receives bill of the related. There are

checked against purchased order and Performa invoice in terms of quantity, specification,

price etc. After this, a bank payment voucher is prepared and sent to payable section, which

issue the checks to the related party and posted in the ledger.

For import when advice from bank is received the work of store costing starts. It is recorded

in L/C ledger with all expenses and the arrival of Bill of Lading. It is also recorded in ledger

and payment is made to the exporter through bank.

ExciseExcise section deals with the outgoing products for issuance of Gate pass. The working of

excise section starts after sale; when a loading program is received from export sale & local

sale processing. According to that program, gate pass are prepared and issued to the god own

keeper. After issuing Gate pass, its details are recorded in the register and then sale invoices

are prepared in which actual value and sales tax value is mentioned.

AuditThe internal audit section performs three types of audit:

1. Pre-audit

2. Post-audit

3. Physical verification

Pre audit deals with the local purchase, TA/DA, utility bills, while post audit deals with

L/C, cotton purchase, dry port, civil works etc.

The working of audit section starts from the receptions of voucher/checks, L/C; ledger

after this pre/post audit is started. At the completion of audit it is installed and stamped

and returned to finance and account department.

VouchersStore purchase Journal voucher

It is a voucher, which is used to record the store purchases.

Bank payment voucher

It is the voucher, which is used to record the payments, which are made through the bank.

Bank voucher

The bank uses thin voucher to record the amount from the credit advice, which is issued.

Journal voucher

It is issued to record the entry in the books of account.

Sales journal voucher

It is used to record the sales & sales tax.

Cash payment voucher

It is used to pay the amount in cash

Head office cash receipt

This receipt is used to record the proceeds of sales

Bank receipt

When cash or check are deposited for credit to Crescent Textile Mill’s account, the bank issue a credit advice and

that is attached with the voucher.

EXPORT DEPARTMENT

Purchase departmentThe department is located within the factory. There are eight employees working in the

purchase department.

The decision of the purchase of raw material is med by the top management or when any

new machinery or plant is to be acquired. At the time of the cultivation of the cotton crop,

the decision is made with considering the other factors like requirement, price, quality etc

that how much we should purchase and from whom we should purchase and through what

sources we can finance this purchase. So in this regard, the Chairman with the consultation

of the Mill Manager, General Manager Finance and Technical Manager make the bulk

orders.

The finance division helps them in this regard to arrange eh funds. So in this regard, the

select the bank that provide financing facility at lower rate of interest.

As far as the purchase of raw material is concerned, the purchased department fully

contributed its efforts in this regard. Whenever any section of the mills or he head office

requires any thing they make and purchase indent to the purchase department. At mill, the

storekeeper made this indent, on the other hand of the required thing is available with him,

he makes the delivery to that section.

When the supplier dispatches the goods to the mill, a dispatch advice is made by the

department t other store keeper that the items is dispatched to you. At mill, an inward gate

pass is made and the items sent to the store where the storekeeper prepares goods receipt

note after inspecting the items and this GRN one copy is sent to the purchase office and one

copy is sent to the account s office.

Function of purchase departmentFollowing are functions of purchase department:

o Provide link between the workers and management

o Ensure the implementation of the rule and regulations of the company

o Inquires of the complaints against the workers

o To solve the problems and grievances of the workers.

Main storeThe store plays very important role in any kind of manufacturing organization. Here we are

discussing the objectives and functions of the store in any manufacturing organization.

ObjectivesFollowing are the main objectives of any store in the manufacturing organization.

o Planning for arranging the demand

o Provide different demanded items to the different departments

o Communication with the top management

FunctionsFollowing are the main functions of the store keeper has performed in any kind of

organization:

o Collection of demand from different departments and issue material to them

o If stock is not available with it, demand sends to purchase office

o Collection of receipt of material or items purchased

o Keep the stock of items up dated

o Keep the items in the store in systematic manner

o Link with purchase office in the valuation of the items purchased

At Crescent Textile Mills there is the main store at the mill premises, which is situated away

from the production and accounts offices. There are seven men in the store, which deal with

the demand of the different people at the mill.

Time officeAt the mill premises there is a time office, which performs following functions:

Prepare the monthly wages of the workers on the basis of the basic and over time

worked

Prepare the final settlement sheet of the worker

Maintain the time register for the workers

Maintain the record of the workers

At Crescent Textile Mills, there are 12 to 15 men working in time office.

At mill premises there is a cashier, which holds the patty cash for the day to expenditures of

the factory and give wages to the workers.

At factory there is a strict security staff at the main gate which checks each and every thing

coming or going from the factory premises.

Personal activitiesThere is a separate personal department, which performs personal functions in factory.

Recruitment and selection

The personal department helps the upper level management in selecting employees.

Vacancies are filled on the basis o experience, competency and capacity.

Sources of recruitmentInternal sources

If some vacancies are vacant and some junior person fulfills the condition then he is

promoted to that seat.

External source

There are following methods of external sources:

Employee referrals

Some jobs are fulfilled through the reference of the employees already working in the

Crescent Textile Mills.

Unsolicited application

Some times vacancies are filled by choosing among the persons who have send the

applications for the job.

Advertising

If there is any vacancy, an add is placed in the newspaper for that job.

Office working hours8.30 A.M TO 1 PM

1 PM TO 2.30 Lunch Break

2.30 PM TO 5 PM

HOLIDAY: SUNDAY

LABOUR TIMING

7 AM TO 12 PM

12 PM TO 12.30 PM Lunch Break

12.30 PM TO 4 PM

Retirement ageThe employee is retired at the age of 58

Training and developmentTraining is mean through which a man learns how to do work and how one can increase

one’s efficiency. In Crescent Textile Mills training opportunities are available.

Job rotationThere is job rotation system in Crescent Textile Mills. In this way employees are able to

learn more about the system and procedure of the organization

Health and safetyHealth facilities are available in Crescent Textile Mills for the employee whose salary is

below RS.3000

However following health and safety measures are taken in at the factory

Fire extinguishers have been hanged on the walls to be more prominent.

Incase of industrial injury, first aid is provided to the injured at the spot.

The cotton is stocked in godown to prevent from fire moisture etc.

No much woodwork has been carried inside the factory building

Benefits and facilitiesMedical facility

All employees enjoy medical facilities

Workers participation fund

All the permanent employees are entitled to become a member. The company contributes

every year some amount of profit for permanent employees.

Leaves

32 leaves per annum are allowed under different categories like sick leave, causal leaves etc.

Conveyance allowance

The top management is provided with fully maintained cars. Conveyance allowance is

provided to employees.

Traveling allowance

T.A is paid to the employees if they travel for the purpose of the business

Housing facilities

Crescent Textile Mills has set up its own housing colony where the residences are provided

to employees.

StrengthsCrescent Textile Mills is using imported machinery

It has a strong market image

The customer is aware of the name of the company

It has high financial resources

It has competent staff working for the progress of the company

It has automated system of production

Organization has friendly environment

It has certificate of ISO 9002

It has a wide range of products

It always sets new standards for quality

Its design studio is equipped with latest technology.

It has given a large quota for exports in USA and Europe

Weaknesses Crescent Textile Mills has ignored than local market

Transit time for international market is comparatively long as compared to India and

China.

There is lack of proper training programs especially for workers. They learn through

experience and from seniors that’s the reason o f high rate of wastage during

production.

Wastage is very high especially in spinning sector

Crescent Textile Mills has no proper sale system for cotton waste and yarn waste.

Some time delivery lates due to lack of production planning

Middle level management is de motivated due to low salary package and promotions

are held after a long period

There is no job commitment among the employees.

There is no proper criteria for performance appraisal that’s why staff in not motivated

No measures has been taken to motivate the employees

Opportunities As Crescent Textile Mills is ISO-9002 certified company so it has a chance to increase

& expand business all over the world.

The demand of its products is high in international market

Govt is providing rebate facility

Long term loans are easily available

Company can expand its operations easily

Anti dumping duties in European market are overdrawn, so the chance is to increase the

export as compared to last years.

Devaluation of rupee made Pakistani export more acceptable to the foreign buyers.

There is a chance to compete better now.

Govt’s pre import-export policy for cotton is also in favor of Crescent Textile Mills.

Threats Foreign investment in textile sector in Sri Lanka, Bangladesh and India is a danger in

future for Crescent Textile Mills

It has been seen that many other groups in Pakistan have entered in competition with

Crescent Textile Mills. If they will not be competed well, there is a chance that they

can get share of export from foreign buyers.

South Africa is thinking about to impose the anti-dumping duties on Pakistan textile

exports. If it is imposed, a reasonable export share and big market may be lost.

There is no proper attention towards Russian market. Crescent Textile Mills can get big

orders from Russia. If attention will not be given towards this side there is a chance

that any other competitor can introduce its products in Russia and this market can be

lost.

High inflation rates hinder in competing the Indian yarn at international level.

Fluctuating prices of dollar also affect the purchase of cotton in off-season.

Due to economic crises of eastern countries, so many sales lost during last few years,

but now these countries are again on the road of progress. If the previous customers

are not properly attended, they may be last forever.

Due to military Govt in Pakistan, there is a chance for Pakistan to be declared as a

terror country. So this thing is also a threat for Crescent Textile Mills.

Competitor analysisThe business environment of Crescent Textile Mills is facing tough competition.

Its major competitors are also inside the country as well as in the foreign markets. While

concerning with the countrywide competitors, there are major competitors like Nishat Textile

Mills and there are also other major competitors in the European markets.

The market for textile product is becoming more competitive every year. The customer is

emphasizing on quality over all other things and can easily search the most cost effective

supplier anywhere in the world. Keeping this in view, Crescent Textile Mills focus has been

on meeting its customer’s demands and requirements, improving its competitiveness,

increasing productivity and enhancing its existing quality control systems.

Following are some findings of our report:

There are no motivating factors for the employees

Companies personal policies are not good

The performance appraisal are not carried regularly

Company is facing the main problem of textile industry crises in the country due to

floods, leaf curl virus etc.

The company is unable to use its full plant capacity, which shows that technical staff is

not up to the standards

The employees are not much aware of latest available computer programs

The management is not doing anything for the purpose of satisfying and motivating

their employees and the workers, which may lead towards the more productivity.

Changing Govt policies are providing problems for the company exports policies.

The short-term solvency and long term solvency of the company is better and still

acceptable, because there is still a margin of getting long-term loan.

The net profit margin in increasing since 1995 but it decreased in 1999.

Following are some suggestions

A

proper training should be given to the employees and the workers to

enhance their skills to increase their productivity and ultimately of

the company.

The

management should make the market survey time to time to get more and

latest information about the market factors like the price, demand,

current consumer trends etc.

As

the world has become a global village, the management should have the

latest knowledge and information’s about the world because now a little

change in any corner of the world can affect your business.

The top management should give the autonomy and the flexibility to every manage to

make decisions according to the situation at any time and in the absence of the top

managers.

All the duties and responsibilities of the employees and the workers should be clearly

defined.

The computer technology should also be used in decision making as well as in storing

and feeding the data.

The company should make it possible to deliver the goods to the buyers at the agreed

time.

The company should adopt an efficient appraisal system and give rewards to the

employees who have done well.

The management should recruit right persons for the right job.

The

management should be able to assess the problems before it’s occurring

so that they are able to find the ways of their solution.

The management should hire multi-skilled workers to get economy of scale.

The company should emphasize on its personnel department immediately on

emergency basis.

Long-term solvency is good but time interest ratio should also be improved.

There should be decentralization in decision-making

An effective relationship and coordination between the departments must be there.

It

should be realized to be very clear about the advantages and

disadvantages of each strategy to take effective decision about its

continuity to make an effective strategic implementation.

Crescent Textile Mills should also introduce its brands in local markets.

Company should give proper attention to deal with dead fabric and made ups.

ConclusionWe

got a lot of experience from Crescent Textile Mills. During our

internship we came to know that how the different activities take place,

what are the procedures

The

Crescent Textile Mills is on the way of progress. It has been earning

profit for the last five years. The management is professionally

qualified and experienced.

The

Crescent Textile Mills should motivate their employees by providing

different incentives. Their salary package is also not attractive. The

performance of the Human Resource department is also not satisfactory.

Crescent

Textile Mill’s product (yarn & cloth) is of high quality. The

demand of Crescent Textile Mill’s products is increasing with the

passage of time. The company should expand its capacity as soon as

possible to satisfy the demands of their customers.Posted in: Faisalabad,Textile Industry

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5 comments:

Anonymous said...

superb... done very well

June 19, 2010 12:57 PM

Anonymous said...

thank u so much....excellent work !!!

September 15, 2010 1:09 AM

Anonymous said...

nice job keep it up

March 16, 2011 12:42 PM

Anonymous said...

nice job keep it up

March 16, 2011 12:49 PM

Anonymous said...

very good research work well done...

July 25, 2011 6:34 PM