...Case study for Nucor steel company Case studies bring interesting, real-world circumstances in the study of business fields. Managers make different decisions in their companies, and each decision has a direct influence in revenue, costs, and profits. In analyzing the case study of Nucor steel company, different central firm issues, firm goals, the constraints to improving the firm and the relevant alternatives to counter the problems are addressed. To grow in steel market, metal producers are increasingly expanding territories, not only to better manage input costs, but also to secure access to strategic raw materials. With improving economies’ growth is expected to boost desire for many to purchase the product in the medium term. Steel producers and mini-mill companies are situated in the midst of a very competitive environment in both domestic and global scale which adversely affects their profitability. This competition among steelmakers is to capture a significant portion of the steel market in light of the fact that, the global supply of steel far exceeds the demand for steel products (Thompson, 207). The first competitive forces impacting steelmakers is the force to drive down the profitability of steel industry, steelmakers are primarily affected by the abundant steel supply versus demand, which depresses the market price of steel as a commodity. Competition among steelmakers is to lower product prices in order to capture a significant portion of potential customers...
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... Working in the steel industry can be quite rewarding at times, but when working in human resources one gets to see a different perspective on things. There was an article written about a study of Steel Finishing Lines and their human resource management practices. That study included a thorough investigation of the productivity effects of innovative employment practices using data from a sample of 36 homogeneous steel production lines owned by 17 companies. The production lapses demonstrated how lines using a particular set of innovative work practices have higher production rates than lines that use a more traditional approach with stricter work rules. The main focus of this research is the people. How are people treated and their response to such treatment? Often times, many companies lose focus of what is actually important for their organization which is the people that they employ. Instead they tend to focus more on the numbers; money being made. The people are what make a company successful; whether it be the people that the company employs or the people that the company serves. At the end of the day it is all one big revolving cycle. This study presented evidence on how productivity is measured based upon the employment practices of some steel finishing locations. One of the primary issues in this study though is that it is not based around a broad spectrum. For example, the study conducted was just restricted to one particular type of steel manufacturing process...
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...purpose of this case study is to examine, classify; analyze critical concerns as well as difficulties that are impacting Precision Worldwide, Inc.’s organization. Notably, Precision Worldwide, Inc. has several competitors who are well-disposed in the market due to their reduced pricing and product substitutions. The method in which this case study observation is arranged will explore findings and opportunities related to price and production cost; the ramifications of demand in other markets. The assessment of this case study, in conjunction with arriving to an appropriate cost for materials and freight, will help determine the recommended best course of action for Precision Worldwide, Inc. and Hans Thorborg in deciding the preferred product for the organization. Key Issues and Problems Precision Worldwide, Inc. (PWI) is faced with a business decision that will potentially affect the organization’s continuity and profitability. The organization recently held meetings to discuss the introduction of a substitute product into the marketplace by a competitor. In making a business decision to ensure the ongoing future of the organization, the key issues and problems need to be outlined to provide certainty that all issues and problems are addressed to facilitate a sound recommendation to the organization. * Disproportionate level of steel ring inventory compared to demand PWI currently has a large quantity of steel rings and specialized steel in inventory in excess...
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...AN FINAL REPORT ON SALES AND DISTRIBUTION CHANNELS AT STEEL AUTHORITY OF INDIA LIMITED SUBMITTED BY: R.N.MUKHERJEE (07BS3134) STEEL AUTHORITY OF INDIA LIMITED AN FINAL REPORT ON SALES AND DISTRIBUTION CHANNELS AT STEEL AUTHORITY OF INDIA LIMITED SUBMITTED BY: R.N.MUKHERJEE (07BS3134) A Report Submitted In Partial Fulfilment Of The Requirements Of MBA Program Of ICFAI BUSINESS SCHOOL, HYDERABAD DISTRIBUTION LIST: PROF. SUBHASIS RAY (FACULTY MEMBER-MARKETING, IBS Hyderabad) MR. TANMOY SEN (SR. MANAGER (Mrkt-MS), SAIL, KOLKATA) 2 ACKNOWLEDGEMENTS I express my gratitude to Mr. M.R.Rath, Sr. Manager (HRD), Steel Authority Of India Limited (Kolkata) for giving me an opportunity to work with SAIL and for extending support in the form of knowledge and guidance. I would also like to thank my company guide, Mr. Tanmoy Sen, Sr. Manager (Mrkt-MS Division), Steel Authority Of India Limited (Kolkata) as well as other employees of Steel Authority Of India Limited, Kolkata, namely, Mr.R.M.Suresh, Mr. Pankaj Singh, Mr.D.K.Sinha, Mr. N.M.Padhy, Mr. H.Hembram and Mr. M.R.Rath for being a constant source of encouragement as well as for providing guidance throughout the project. I also sincerely acknowledge the guidance and esteemed advice extended by Prof. Subhasis Ray, Faculty Member - Marketing Area, IBS (Hyderabad). Finally, I would like to thank all those people who in the course of my project have knowingly or unknowingly helped me, especially the channel members I...
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...integrated Steel Plant – a case study Name of the Scholar : O. Rama Mohan Rao AGM (Pers), Visakhapatnam Steel Plant Dept : Mechanical Engineering Name of the guide : Dr. K.Venkata Subbaiah, Ph.D, Professor in Mech. Engg., Andhra University Dept : Mechanical Engineering ABSTRACT Globalization is making most of the organizations, sectors more intensely competitive. Many organizations are struggling to improve their operating performance in response to market demands for lower costs, higher-quality products and services, shorter lead times, and higher returns on investment in infrastructure and resources. To address issues of competitiveness and to uncover hidden value, our clients find that Lean Six Sigma technique is one of the most powerful platforms available. This research addresses the application of Lean and Six Sigma tools to increase the productivity and improve the quality in the steel industry. It illustrates the procedures of implementing lean tools in a process industry with emphasis on Value stream mapping, 5 s and six sigma tools. Study on Integrated applications of lean & six sigma tools in a continuous process industry are limited. The thesis hypothesizes that there are lot of opportunities for improvement in the process industries like steel if lean and six sigma tools are integrated and utilized. It systematically demonstrates how lean manufacturing tools when used appropriately can help the steel industry...
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...Corporate Internship Report “Steel Service Center in Indian Steel Market & It’s Relevance to JSPL’s Future Expansion” Internship Report submitted as a partial requirement for the award of the two year Master of Business Administration Program Submitted by Vinay Aggarwal 08609086 MBA (2008-2010) Company Guide Faculty Guide Mr. Subimal K. Sarmah Ms. Dimple Grover Asst. General Manager (Marketing Dept.) Jaypee Business School Jindal Steel & Power Limited Jaypee Business School (A constituent of Jaypee Institute of Information Technology University) (A-10, Sector 62, Noida (UP) India-201307) ...
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...SUJANA METAL PRODUCTS LTD. Hyderabad. Submitted in partial fulfillment of the Requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION BY SUMAN NEELI Under the Guidance of Mr. K. SATISH Asst. Manager (F & M) [pic] DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF PLANNING MANAGEMENT BANJARAHILLS, HYDERABAD. 2010 – 2012 INDIAN INSTITUTE OF PLANNING MANAGEMENT BANJARAHILLS, HYDERABAD. DEPARTMENT OF MANAGEMENT STUDIES [pic] CERTIFICATE This is to certify that the project titled WORKING CAPITAL MANAGEMENT is being submitted by SUMAN NEELI partial fulfillment for the award of the degree of MASTER OF BUSINESS ADMINISTRATION (MBA) is record bonafide work carried by him. The results embodied in this report have not been submitted to any other university for the award of any degree. ACKNOWLEDGEMENT With immense pleasure and deep sense of gratitude, I express my indebtedness to my project guide Mr. K. SATISH for giving good guidance and keen interest in the progress of the work. I am also thankful to Laxmi Prasanna (Accounts & Finance Department) SUJANA METAL PRODUCT LTD in Hyderabad for giving me permission to undertake the study in the Organization and he providing required sources for completion of my project. I am thankful to …………. I am also express my great sense of gratitude to my beloved parents and my friends who has given their moral support while doing my work. Finally my heartful...
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...Precision Worldwide, Inc. Case Study BUS5431 – Managerial Accounting Summary Precision Worldwide, Inc. (PWI) manufactures industrial equipment and parts for sale in numerous countries. Repair and replacement parts account for a substantial part of the company’s business with the replacement part in question, steel rings, occur in the machines manufactured only in PWI’s German plant, but can also be used on some competitor’s machines. This steel ring has an average normal life of about 2 months. These individual rings are replaced as they wear out and recently competition has increased and now a competitor has entered the market with a superior and less expensive plastic ring that can replace the steel ring. The general manager of the German plant, Hans Thorborg has been considering the introduction of a similar plastic rings as a substitute for the steel rings. There is a lot of potential for this product in this market because there is a lower manufacturing cost and a greater durability compare to steel rings. The company is wondering if it is worth to shift from steel rings to plastic rings, but there are a lot of facts that they need to consider. There has been conflicting views concerning the future of the steel rings departments if they should change to plastic rings in order to acquire competitive advantage in this market and what will they do with the special steel after they have implemented the new product. A decision must be made as whether to start producing...
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...Lean is the concept which starts from removing waste [1]. Lean Production is the practice of mass production in which work is completed in minimum time, in a smaller space, with very few workers, with less equipment, and yet achieves highest level of quality in final product [2]. Since the evolution of Toyota Production System in 1950s [2], the lean movement has been widely accepted in automobile industry. However, acceptance of lean technology in the process industries (steel sector) have been much slower [3]-[4]. For removing the obstacles like resource complexity, the idea of the point of discretization for the process industry has been explained by Abdulmalek et al. (2006). This notion is based on the fact that in production flow route...
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...CHAPTER ONE GENERAL INTRODUCTION 1.0 INTRODUCTION There is no doubt that all organizations are established with the aim to achieving certain goals and objectives, by using human being who in turn manipulate other resources in order to achieve these goals and objectives of the organization. For the above-mentioned reasons the growth of steel industry (Turnkey project), should be an issue of interest, especially when katsina steel rolling company is faced with challenges of transforming into a dynamic residence It is through this that we can see the inter-connectedness of how effective management of employee can lead to achieving of objectives in the production sector, a case study of Katsina Steel Rolling Company which is a Turnkey project. Therefore there is need to understand how to use employee which at time leads to avoid employee discontent. Employee discontent manifest in so many ways, such as high labour turn over, minimal effort, high absenteeism, disruptive behavior, malingering, equipment breakdown and works stoppage, which causes low productivity. Therefore, the management had to enforce some strict measures of control. To lead human being indeed successfully one had to exercise some measures of control and authority. Successfully manager or leader must be one who stood above his followers and showered orders on them to obey. Leaders are those who decide for their men not only to do but how it should be done. Organizations today are much larger and both the manager...
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...Winter Internship Report on the basic study of Corporate Governance and Comparative Analysis Of The Annual Reports of Vizag Steel and TATA Steel At Vizag Steel Submitted in partial fulfillment of the requirements by NALSAR University Submitted By Sushma Yanamadala ( Centre for Management Studies National Academy of Legal Studies and Research Shameerpet, Secunderabad. Certificate from Company Declaration I hereby declare that the project entitled “Corporate Governance and Comparative Analysis of the Annual Reports of Vizag Steel and TATA Steel” submitted to the NALSAR University of Law, Centre for Management Studies, Secunderabad has been prepared by Sushma Yanamadala in Corporate Governance Department at Vizag Steel, Vishakapatnam. This embodies the data collected and analyzed under Mr.S.SakthiMani, Company Secretary, at Vizag Steel and hereby approved. The data collected for the analysis and report was provided by Vizag Steel, and was asked to use this information only, which include the company profile, annual reports and articles that have been used for reference. Place: Vishakapatnam Date: Signature of the candidate --------------------------------- ACKNOWLEDGEMENT ...
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...PETRO CASE STUDY ASSESSMENT OF PIPELINE CORROSION BACKGROUND Internal corrosion monitoring & assessment of subsea production and export carbon steel pipelines during operation is a crucial part of overall subsea pipeline corrosion management strategy. Internal corrosion of the pipelines is generally assessed by continuous monitoring of operational parameters and periodic inspection of pipeline’s internal condition by inspection tools such as NDT (non- destructive testing) techniques. However, corrosion assessment is highly challenging for the pipelines not equipped with facilities (un-piggable pipelines) to run the inspection tools. One prominent alternative for the corrosion assessment of un-piggable pipelines is to use a combination of different corrosion models. CORROSION ASSESSMENT MODELS Carbon steel pipelines are widely used in subsea for transport of multiphase production fluids due to their significant economic impact on offshore projects. However, carbon steel is highly susceptible to internal corrosion caused by presence of carbon dioxide (CO2) and hydrogen sulphide (H2S) in free water, an environment commonly present in multiphase (oil, gas and water) production systems and pipelines. During design stage of the carbon steel pipelines, a corrosion allowance is usually added to pipe wall thickness in order to accommodate metal loss due to corrosion during the operational life. Corrosion allowance is an effective barrier for mitigating the loss of pressure...
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...impact on their future sales. Although PWI has a strong presence in the market, it’s stated in the case study that the plastic rings have at least four times the wearing properties of the steel rings. Therefore, while the steel ring currently lasts for an estimated two months, the plastic ring will last for an estimated eight months. Buying a plastic ring would guarantee a customer a better quality product and essentially a better bang for their buck. Also, the total costs to produce the plastic ring would be significantly less allowing the company to take advantage of a huge profit margin. Instead of trying to justify the stock on hand and how much he paid for the stock, he should avoid the sunk cost fallacy. There is not enough information in the study to compare production costs, but with the information available it seems that the plastic rings would be more profitable for the company. As for the stock that is already on hand, there is opportunity to sell them to locations where the plastic ones are not yet available, or sell them for a discounted price after projected sales are met. With a two month life expectancy on the steel ring, combined with the discounted price, PWI may be able to entice customers, even competitors to purchase a large portion of the existing inventory while awaiting the arrival of the plastic ring. If during this time, demand for the discounted steel...
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...Crafting & Executing Strategy MGMT – 702-101 Nucor Case Study Instructor: James Farmer By, Arulraj Rajaram – 300729443 Strategic Management Date: 29th July, 2013 Page |2 1) Rolled steel is a commoditized product. Commoditized products are extremely difficult to differentiate and distinguish (in terms of marketing and sales methods) from your competitor’s products. Name and explain at least three strategies that Nucor Corporation has employed to differentiate its products and services, from its competitors. A) Nucor Corporation has employed various strategies to differentiate its products and services, from its competitors over the years. They have differentiated their products and services so well that they offer steel users with a wide range of steel products. The three strategies that Nucor has employed are: Low Cost of Production Strategy: Nucor constantly worked on attaining low cost of production by improving their production efficiency. Nucor constantly made investments in modernization of their plants, and new technology in the production of steel. They adopted automated technology that helped in fewer requirements of employees to operate. Thereby, increasing the productivity of labor and decreasing the cost. Nucor also employed electric arc furnaces and fewer production steps which lead to low energy costs. Also, the management system of Nucor was designed in a way that led to increased innovation by the employees and quick decision making. All these practices...
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...Precision Worldwide Inc. manufactures steel rings, which are used in certain machines. French firm Henri Poulenc competitor of Precision Worldwide Inc is introducing a plastic ring, which is a substitute for the steel retaining rings. Hans Thorborg, general manager of Precision Worldwide Inc. is worried because the plastic rings not only have a longer life than the steel rings but are also manufactured at a lower price. PWI has a large quantity of steel rings and substantial inventory of special steel. In a meeting, the general manager, the sales manager, the accountant and the development engineer discussed the possible problems and alternatives for this problem. For PWI, manufacturing plastic rings was defiantly the best solution for the problem but they still wondered what they would do with the inventory they had. According to the sales manager, customers new about the new plastic rings and were asking if PWI was already selling them. The development engineer calculated that the plastic rings could be by mid-September. The sales manager thought that since the plastic rings could be produced at a really low cost, the inventory problem was irrelevant. He suggested that if the steel rings couldn’t be sold they should just throw them away. Another problem was that Henri Poulenc was selling the plastic rings at the same price that PWI was selling the steel rings. Not manufacturing the plastic rings would be like ignore a considerable profit margin. In the meeting they concluded...
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