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Inventory Management at Warehouse

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Submitted By Arkyadeep
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A PROJECT

ON

INVENTORY MANAGEMENT AT WAREHOUSE

PROJECT REPORT SUBMITTED BY: ARKYADEEP CHOWDHURY
(WORKING AS AN INTERN IN ITC LTD)

INTERNSHIP SUPERVISOR: MR.SABYASACHI BAGCHI

INDEX

|CONTENTS |PAGE |
| |NO. |
| | |
| | |
| | |
|Introduction – Company’s Profile |3 – 5 |
| | |
|Natural Movement |6 – 7 |
| | |
|Standard Operating Procedure for Warehouse Management | |
|Standard Instructions | |
|Receipt of Stocks |9 – 15 |
|Storage and Stacking |16 – 26 |
|Repacking of Stocks |27 |
|Stock Verification, Discrepancies and Damages During Storage |28 |
|Dispatch of Goods | |
| |29 – 34 |
| |35 – 37 |
|Conclusion | |
| | |
|Acknowledgement |38 – 39 |
| | |
| |40 - 41 |

INTRODUCTION

COMPANY’S PROFILE

• ITC is one of India's foremost private sector companies with a market capitalization of nearly US $ 19 billion and a turnover of over US $ 5.1 Billion. ITC is rated among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most Reputable Companies by Forbes magazine, among India's Most Respected Companies by Business World and among India's Most Valuable Companies by Business Today. ITC ranks among India's `10 Most Valuable (Company) Brands', in a study conducted by Brand Finance and published by the Economic Times. ITC also ranks among Asia's 50 best performing companies compiled by Business Week.

• ITC has a diversified presence in Cigarettes (Market leader), Hotels, and Paperboards & Specialty Papers, Packaging, Agri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel, Personal Care, Stationery, Safety Matches and other FMCG products.

• As one of India's most valuable and respected corporations, ITC is widely perceived to be dedicatedly nation-oriented. Chairman Y. C Deveshwar calls this source of inspiration "a commitment beyond the market". In his own words: "ITC believes that its aspiration to create enduring value for the nation provides the motive force to sustain growing shareholder value. ITC practices this philosophy by not only driving each of its businesses towards international competitiveness but by also consciously contributing to enhancing the competitiveness of the larger value chain of which it is a part."

ITC's diversified status originates from its corporate strategy aimed at creating multiple drivers of growth anchored on its time-tested core competencies: unmatched distribution reach, superior brand-building capabilities, effective supply chain management and acknowledged service skills in the hospitality industry. Over time, the strategic forays into new businesses are expected to garner a significant share of these emerging high-growth markets in India. • Agricultural products. ITC is one of the country's biggest foreign exchange earners (US $ 3.2 billion in the last decade). The Company's 'e-Choupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Company's marketing reach.

ITC's wholly owned Information Technology subsidiary, ITC InfoTech India Limited, is aggressively pursuing emerging opportunities in providing end-to-end IT solutions, including e-enabled services and business process outsourcing.

• ITC's production facilities and hotels have won numerous national and international awards for quality, productivity, safety and environment management systems. ITC was the first company in India to voluntarily seek a corporate governance rating.

• ITC employs over 25,000 people at more than 60 locations across India. The Company continuously Endeavour’s to enhance its wealth generating capabilities in a globalizing environment to consistently reward more than 3, 66,000 shareholders, fulfill the aspirations of its stakeholders and meet societal expectations. This over-arching vision of the company is expressively captured in its corporate positioning statement: "Enduring Value. For the nation. For the Shareholder”

• ITC was incorporated on August 24, 1910 under the name of 'Imperial Tobacco Company of India Limited'. Its beginnings were humble. A leased office on Radha Bazar Lane, Kolkata, was the centre of the Company's existence. The Company celebrated its 16th birthday on August 24, 1926, by purchasing the plot of land situated at 37, Chowringhee, (now renamed J.L. Nehru Road) Kolkata, for the sum of Rs 310,000. This decision of the Company was historic in more ways than one. It was to mark the beginning of a long and eventful journey into India's future. The Company's headquarter building, 'Virginia House', which came up on that plot of land two years later, has become one of Kolkata's most venerated landmarks. The Company's ownership progressively Indianised, and the name of the Company was changed to I.T.C. Limited in 1974. In recognition of the Company's multi-business portfolio encompassing a wide range of businesses - Cigarettes & Tobacco, Hotels, Information Technology, Packaging, Paperboards & Specialty Papers, Agri-Exports, Foods, Lifestyle Retailing and Greeting Gifting & Stationery - the full stops in the Company's name were removed effective September 18, 2001. The Company now stands rechristened 'ITC Limited'.

NATURAL MOVEMENT

1.
[pic] → [pic]

Factory → Warehouse is known as K2 movement.

2. Factory → Wholesale Distributor is known as K1 movement.

3.

[pic] → [pic]

Warehouse → Wholesale Distributor is known as K3 movement.

4. Wholesale Distributor → Retailers

5. Retailers → Customers

STANDARD
OPERATING
PROCEDURE FOR
WAREHOUSE
MANAGEMENT

The Standard Operating Procedure for Warehouse management cover the topics mentioned below:

1. Receipt of Stocks from the Factory/Hub – The responsibility of the Warehouse starts from the receipt of stocks from the source based on the orders generated from the units.

2. Storage of Stocks in Warehouse – The stocks received are checked for physical quality and quantity as per the receipt documents and stored in the warehouse in a prescribed location based on pre-determined stacking norms.

3. Stock reconciliation – The physical stock in the Warehouse has to be periodically verified against the stock quantity displayed in the system.

4. Receiving Delivery Order instructions – Post receipt of the Shipment details from the Unit, input appropriate transportation vendor codes in the system to fetch the route.

5. Preparing for dispatch of Stocks – Generate the Loading Sheet and start loading as per Loading Sheet. Record Loading End and Shipment Completion, to generate Shipment Cost Document.

6. Documentation – Receive proof of delivery details and update in the system.

STANDARD INSTRUCTIONS

1. Receipt of Goods at Warehouse

[pic] 2. Stacking of Goods at Warehouse

[pic]

3. Stock Reconciliation

[pic]

4. Receiving Delivery Order Instructions

[pic]

5. Preparing for dispatch of stocks

[pic]

6. Documentation

[pic]

RECEIPT OF STOCKS

1. Truck Reporting

When the truck arrives at the Gate, the Security Guard must check that the truck which has arrived is meant for that Warehouse. He will then fill in the data’s in the Truck Reporting Register (Format 1) and then he must sign on the reverse of the Lorrie Receipt (LR) (Format 2). Any truck which reports after the laid down time limits, i.e. 8 PM for Outstation trucks & 6.00 PM for local trucks should be considered as reported on the next day for computation of detention, etc.

Format 1

|Sr. No. |

Format 2

The following details are to be filled up on the reverse of the Lorrie Receipt. The Security guard will fill in the Arrival date & time and truck number. Other details should be filled by the Warehouse Service Provider after unloading the goods from the vehicle:

|WSP NAME: XYZ LOGISTICS CO. |
|WAREHOUSE LOCATION: KOLKATA |
|Arrival Date |Time |
|Unloading Date |Time |
|Quantity Received (CFC/Bags) |
|Truck Type |
|Container/Non-Container |
|Truck Number |
|Transshipment (Yes or No) |
|Damages/Shortage Quantity (CFC/Bags) |
|REMARKS |
|Signature of WSP |
| |
| |
|Signature of Driver |

2. Checking of Incoming Consignments

A. Verification of accompanying documents

The Warehouse Service Provider (WSP) shall check the following details in the documents accompanying the consignment. WSP shall ensure that the following documents are available and where required are in agreement with SAP records before unloading of goods.

|Documents |Key information to be verified & checked |
|Delivery Challan |Company’s Purchase Order number/Stock Transfer Order. |
| |Date of manufacture. |
| |Product SKU and Product Code. |
| |Quantity of the Goods. |
| |Delivery address. |
|Excise Gate Pass wherever applicable |Description of the goods should be same as Delivery Challan. |
| |Product SKU and quantity on the Gate Pass should be the same as the Delivery Challan. |
| |Endorsement of the Excise authority on the Gate Pass. |
|LR Copy |The total quantity should be as per Delivery challan. |
| |The description of the goods. |
| |Assessable value of the goods as per challan. |
| |Shipment number. |
| |Truck type. |
| |Dispatch date. |
| |Truck number. |
|Way Bill/road permit(in case is |Whether the way bill is accompanying the consignment. |
|applicable in the state) |To Cross check value of Way Bill & STO. In case of mismatch to inform Branch FS immediately, who |
| |shall take up the matter with source of supply. |

B. Pre Unloading Inspection

The following should be checked before the truck is unloaded:

• Whether truck has had an accident or has any other material besides Company’s material. • The condition of the tarpaulins and whether the tarpaulins have been used or not. • Whether the truck Type is the same as that mentioned in Lorrie Receipt. • In case of any issue on any of these items, the WSP will intimate to the Branch Logistics Executive/ Regional Logistics manager (BLE/RLM) who shall take up the matter with the Transporter and inform Head Office Logistics, if required.

C. Post Unloading Inspection

• Once the inspection of the truck is over, the Supervisor will offload the material in the area near the unloading bays or there will be direct off loading incase of sufficient space in the unloading bays. The Supervisor will then stack the materials batch wise. The following should be checked at the time of inspection: o Hygiene & Original packaging i.e. whether the outer packet is visibly damaged and is there any presence of bad odour. o Damages if any and the extent of damages. (Only Carton is damaged or material is also damaged). o Any visible damages due to rain. o Any damages to CFCs/bags because of rough handling or use off hooks. o Any shortages. o Hooks should not be used for unloading and stacking activity for bags.

• Supervisor will conduct 100 % Batch Wise Counting of all SKUs and will fill the Unloading Sheet (Format 3). And finally he will mention the Truck Reporting Date & Time and actual unloading date & time on the Unloading Sheet.

Format 3

This document is to be filled by the WSP and will facilitate the SAP Executive to make the transfer postings for Loss in Transit, Damage in Transit, Repacking stock, etc.

|UNLOADING SHEET |
|WSP Name |Sr. No. - |
|Warehouse Address & Phone No. |Shipped From |Date |
| | |Count Sheet No. |
| |Shipped To | |
| | | | | | | |
|Transporter’s Name | | | | | | |
|Truck No. | | | | | | |
|GR No. | | | | | | |
|Sr. |
|No. |

• Any Excesses/Shortages/Damages/Batch mismatch should be noted down. • The WSP will put necessary remarks on the Unloading Sheet and affix his signature on the same.

1. Stock Discrepancies and Damages in Transit

Any incidences of loss/damage of stocks shall be reported to Branch by WSP immediately on occurrence of such event so that the Branch can make sure whether such damage is insurable or not. The procedure to be followed in case of such an incidence is as follows:

A. Damage in transit

Any material which is received at the warehouse in a damaged condition (damage under gone in the process of transit), shall be treated as Damage in Transit. Some examples of damage in transit are given hereunder: • CFC is crushed and the material inside has been damaged. • Leakages in packets especially in case of Bingo & Confectionery products. • CFC received in Oil/Water Drenched condition & the material is damaged from inside. • CFC received with foreign contamination/Odour/Chemical diffusion. • CFC and the material therein have been damaged due to water seepage in the vehicle. • Infested stocks, Rotten smell of stocks, Puffed cans, etc.

Damage in Transit may further be classified as:

• Non Insurable cases - If the value of damaged stock is less than Rs. 10,000/- for Foods & Personal Care products, Rs. 25,000/- for Matches & Agarbatti and Rs. 1, 00,000/- for Cigarettes then the same is not claimable under Company Insurance Policy. The entire amount of loss shall be recovered from the Transporter or any other person responsible for such damages. • Insurable cases – If the Value of Damaged Stock is more than the aforementioned threshold value limits then such losses will be claimed from the Insurance Company policy. Any deductibles under the respective Insurance policy shall be recovered from the Transporter or any other person responsible for such damages. Prescribed procedures for lodging insurance claim should be allowed, as detailed in the Standard Operating Procedure for insurance. • Currently in cases where Insurance claims are being preferred, some amount is also recovered from the transporter like 10% of the loss in case of Cigarettes. However, it should be noted that as per our agreement with the Transporters actual loss may be recovered from them.

Process

• The goods damaged in transit should not be returned back to the source location or the transporter. Such goods shall be kept in a separate bay with clear marking that the goods are defective or damaged. • The WSP should ensure that the details are filled in Format 2 & 3 with respect to the damaged goods and the driver signature must be taken on these documents. • Photographs of such stocks must be taken by the WSP in case of insurance claims. • Once the stock has been moved to the Damage and Destruction in Transit (DDIT), the same can be transferred back to any other system storage location in subsequent months only with the approval of the Finance Manager. • The WSP shall also obtain a damage report from the transporter along with the copy of the FIR of the incident in case of damages due to accident. • At the end of the month, the WSP shall make sure that all the transfer postings to the DDIT location for that month have been completed and confirmed with the branch. • The Branch Logistics Executive/ Financial Superintendent shall ensure that the quantity damaged at the warehouse & posted in DDIT storage location in SAP is uploaded in the system on a monthly basis. • After receipt of write off from Strategic Business Unit (SBU), destruction will be carried out as per separate procedures laid down in this regard and ensuring that stocks are flushed out from the SAP system.

Lost in transit

If any truck consignment has reported at the warehouse with short quality then such shortages will be treated as Lost in Transit. Loss in transit is further classified into two types: A. Non Insurable cases – If the value of shortage of stock is less than Rs. 10,000/- for Foods & Personal Care products, Rs. 25,000/- for Matches & Agarbatti and Rs. 1, 00,000/- for Cigarettes then the same is not claimable under the Company Insurance Policy. The entire amount of loss shall be recovered from the transporter. B. Insurable cases - If the value of shortage of stock is more than the aforementioned value limits then such losses will be claimable from the Insurance Company Policy. Any deductibles under the respective Insurance policy shall be recovered by the transporter. C. Currently in cases where Insurance claims are being preferred, some amount is also recovered from the transporter like 10% of the losses in case of cigarettes. However, it should be noted that as per our agreement with the transporter actual loss may be recovered from them.

Process

• The WSP shall ensure that details with respect to short quantity are filled in format 3 & format 2 and the driver signature is to be taken. • Wherever possible, photograph of the truck having short quantity must be taken to facilitate the procedure of insurance claims. • Once stocks have moved to Loss in Transit (LIT) they can be transferred back to any other system storage location in subsequent months only after approval of the finance manager. • The WSP shall also obtain a shortage from the transporter along with copy of FIR of the incident. • At the end of the month, the WSP shall verify that all transfer postings to LIT location pertaining to the month that has been completed and confirm with the branch. • After receipt of write off sanction from SBU, destruction will be carried out as per separate procedures laid down in this regard and ensuring that stocks are flushed out from the SAP system.

Recovery:

Recovery for the month of April 2010

1. Branch – Vizag

|Type |Transporter |LR No. |Date |Truck No. |Material |Qty. |
|Short |Biscuit |Cream |FC3239 Bourbon |-10 |Kg |104.69 |
| | | |176g | | | |
|Excess |Biscuit |Cream |FA3247 Bourbon |+20 |Kg |113.42 |
| | | |88g | | | |

Transfer 10Kg FC3239 Bourbon 176g to FA3247 Bourbon 88g through movement type 309.

Revised list of Excess/Shortage

|Short / |Category |Sub |SKU |Short |UOM |Invoice Price |
|Excess | |Category | |Qty | |Per UOM |
|Short |Biscuit |Cream |FC3239 Bourbon |0 |Kg |104.69 |
| | | |176g | | | |
|Excess |Biscuit |Cream |FA3247 Bourbon |+10 |Kg |113.42 |
| | | |88g | | | |

WSP shall remove 10Kg of FA3247 Bourbon 88g from the Warehouse.

Example 2:

|Short / |Category |Sub |SKU |Short |UOM |Invoice Price |
|Excess | |Category | |Qty | |Per UOM |
|Short |Biscuit |Marie |FA3266 Marie |-20 |Kg |51.42 |
| | | |Light 224g | | | |
|Excess |Biscuit |Marie |FD3256B Marie |+10 |Kg |52.69 |
| | | |Light 306g | | | |

Transfer 10Kg FA3266 Marie Light 224g to FD3256B Marie Light 306g through movement type 309.

Revised list of Excess/Shortage

|Short / |Category |Sub |SKU |Short |UOM |Invoice Price |
|Excess | |Category | |Qty | |Per UOM |
|Short |Biscuit |Marie |FA3266 Marie |-10 |Kg |51.42 |
| | | |Light 224g | | | |
|Excess |Biscuit |Marie |FD3256B Marie |0 |Kg |52.69 |
| | | |Light 306g | | | |

Transfer 10Kg of FA3266 Marie Light 224g and obtain signature of WSP. Recover Rs514.20 (10Kg * Rs51.42) from the WSP.

Seek write off sanction for 10Kg of FA3266 Marie Light 224g.

1. Damage occurrence during storage at the Warehouse:

Process:

• The WSP shall ensure that any damages occurring at the Warehouse, due to handling or for any other reason, are brought to the notice of BLE/FS of the Branch immediately.

• The BLE/FS shall ensure that suitable action like verification of such stock at the Warehouse is carried out for any damages observed/reported. The BLE/FS shall keep the RLM informed in respect of the same.

• The BLE/FS shall ensure that a Damage certificate is prepared and signed by WSP’s authorized signatory position at the Warehouse. The damage certificate should inter- alia contain the following details viz. SKU, Batch number, Quantity damaged, estimated value, Reason for damage, Signature of WSP representative.

• Such goods shall be kept in a separate bay with a clear marking that the goods are damaged/ defective.

• On completion of verification by the BLE/FS, all such identified damaged stocks shall be transferred from BRND to Damage, Destruction and Expired (DDEX) storage location in SAP through movement in SAP with proper narration in the text field containing the following details - Name of WSP and Damage certificate number and date.

• Once stocks have been moved to DDEX storage location in SAP, the same can be transferred back to any other system storage location in the subsequent months only after approval of the FM. The transfer posting shall be done by the BLE/FS in SAP system.

• If any damage of goods is claimable and has occurred due to risks covered under the Company insurance policy then prescribed method for lodging insurance claim should be followed, as detailed in the SOP for insurance, in co-ordination with the BLE/FS.

• At the end of the month, the WSP shall verify that all transfer postings to DDEX location pertaining to the month have been completed and confirmed the same to the Branch FS.

• The BLE/FS shall conduct surprise check of the damaged stocks once in a quarter. In case of differences between physical and SAP stock, suitable explanation shall be sought from the WSP.

• The BLE/FS shall ensure that quantity damaged at the Warehouse and posted in DDEX storage location in SAP system is uploaded in the WHDD system (in respect of food products) on a monthly basis. For other Categories, a suitable recommendation for write off should be sent to respective businesses on a monthly basis.

• On receipt of write off sanction from the SBU, destruction will be carried out as per separate procedures laid down in this regard.

• After receipt of write off sanction from SBU, destruction will be carried out as per separate procedures laid down in this regard and ensuring that stocks are flushed out from the SAP system. Further, once a month at the time of 100% physical verification of stocks, in case there are any differences due to stocks not having been flushed out then the same should be highlighted by the BLE/FS to the person responsible for such flushing.

2. Expiry of stocks at the warehouse

Process:

• Expired stocks will be those whose shelf life has expired.

• The BLE/FS shall generate stock aging report on a fortnightly basis and identify expired quantity shall be transferred to DDEX storage location in SAP system by the BLE/FS.

• Once stocks have moved to DDEX storage location in SAP system, they can be transferred back to any other system storage location in the subsequent months only after approval of the FM.

• At the end of the month, the WSP shall verify that all transfer postings to DDEX location pertaining to the month have been completed and confirm the same to the Branch FS.

• The BLE/FS shall conduct surprise check of the damaged stocks once in a quarter. In case of differences between physical and SAP stocks, suitable explanation shall be sought from the WSP.

• The BLE/FS shall ensure that quantity damaged posted in DDEX storage location in SAP is uploaded in the WHDD system (in respect of food products) on a monthly basis. For other Categories, a suitable recommendation for write off should be sent to respective businesses on a monthly basis.

• On receipt of write off sanction from the SBU, destruction will be carried out as per separate procedures laid down in this regard.

• After receipt of write off sanction from SBU, destruction will be carried out as per separate procedures laid down in this regard and ensuring that stocks are flushed out from the SAP system. Further, once a month at the time of 100% physical verification of stocks, in case there are any differences due to stocks not having been flushed out then the same should be highlighted by the BLE/FS to the person responsible for such flushing.

DISPATCH OF GOODS

1. Planning for Dispatches

K2 Planning

• Stock Transfer Orders do not contain details of the Batches for the stocks that need to be shipped out. The SAP operator should take a dump of pending orders and convert such Stock Transfer Orders to Delivery Orders. • On creation of such Delivery Orders, the details of batches to be dispatched against any given Stock Transfer orders will be generated automatically by the SAP system. • The WSP should intimate the BLE incase the warehouse is unable to execute any Stock Transfer Orders. • The SAP Operator will make a destination wise summary of shipments.

K3 Planning

• K3 Planning shall be done by the Branch. • SAP uses FMFO logic to allocate batches to any given Delivery Order. • The loading sheet communicated by the branch shall be deemed to be the final shipment plan based on which indent for truck placement, etc will be done by the warehouse. • Warehouse will ensure that the Truck No. & LR No. for every shipment is entered in SAP. • In case of Key Accounts the material will be shipped out irrespective of the Truck utilization. • Incase of Key Accounts, the Branch will allocate the recent Batches of products through Manual Stock Transfer Orders into the KA plant in SAP.

2. Indenting & Truck reporting

• As per the K2/K3 Plan, the WSP will calculate the destination wise vehicle requirement. • Indents will be raised on transporters based upon the vehicle requirement as computed above. Indents to Transporters may be given over phone or email, etc. • Vehicle Placement status will be circulated to the Head Office freight team on daily basis for K2 shipments. • A manual register shall be maintained at the security gate showing the following details which are to enter the warehouse for loading: i. Date ii. Transporter name iii. Destination iv. Truck Number v. Time-In vi. Time-Out vii. Signature of security guard • When the truck reports to the Warehouse, the Security shall check the following: i. Vehicle must be clean/no bad odour ii. Vehicle must be dry iii. Vehicle does not contain any outside stock/foreign material iv. No hole in vehicle body v. 3 Tarpaulins for open trucks/1 Tarpaulin for Container • The WSP will check the documents as mentioned below: i. Insurance ii. Driving License In case the documents are not valid the truck must be rejected by the WSP and the transporter should be advised to place a new truck with the necessary documents.

3. Picking, Loading and Invoicing

• The loading and /or pick sheet will be prepared by the SAP operator in the warehouse. The same should be reconciled with the physical stock picked before loading the material. • The WSP shall ensure that the batch codes of the stocks picked up for loading is as per the batch codes in the SAP system. • The matching of the batch code will depend on how the batch code is defined for the Category, i.e. day wise or month wise. • In case of differences between the physical and system batch stocks efforts should be made to locate the correct physical stocks. • Ideally batch wise corrections should be made at the time of shipment however considering that all warehouses do not have ITC staff/ shipments happen at night, this is not possible and will effect market servicing. • The problem will have to be resolved by exiting weaker WSPs and who fail to improve after continuous counseling and guidance. • Thereafter the material shall be loaded in the truck. The driver/transporter representative, the WSP & the Shift in charge shall affix their signature on the loading/pick truck. • The WSP shall verify the truck type and stamp it on the LR as well as enter the name on the pick sheet. • The SAP executive will enter the LR No., Waybill No., truck type, route code, and vendor code in SAP system. • The SAP executive shall ensure that the same truck type & truck No. is entered into the SAP system as mentioned by the WSP in the pick sheet. • The SAP executive will check the quantity loaded as per the pick sheet against delivery order quantity. • Security guard shall allow the truck to go out after verifying the number of CFCs and that the Tarpaulin has been tied properly.

CONCLUSION

Rural initiatives

ITC's Agri-Business is India's second largest exporter of agricultural products. ITC is one of the India's biggest foreign exchange earners (US $ 2 billion in the last decade). The Company's 'e-Choupal' initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Company's marketing reach.
The company places computers with Internet access in rural farming villages; the e-Choupals serve as both a social gathering place for exchange of information (choupal means gathering place in Hindi) and an e-commerce hub. What began as an effort to re-engineer the procurement process for soy, tobacco, wheat, shrimp, and other cropping systems in rural India has also created a highly profitable distribution and product design channel for the company—an e-commerce platform that is also a low-cost fulfillment system focused on the needs of rural India. The e-Choupal system has also catalyzed rural transformation that is helping to alleviate rural isolation, create more transparency for farmers, and improve their productivity and incomes.

Corporate philanthropy

ITC creatively leverages information technology to set up a meta-market in favour of India's small and poor farmers, who would otherwise continue to operate and transact in 'un-evolved' markets.
As of July 2007, services through 6400 e-choupal across 8 states, reach more than 4 million farmers in about 40,000 villages. ITC intends scaling up the initiative with 20,000 choupals and 700 saagars to reach 10 million farmers in 100,000 villages by 2010.
Free access to Internet is also opening windows of rural India to the world at large. ITC e-choupal is now being regarded as a reliable delivery mechanism for resource development initiatives. Its potential is being tested through pilot projects in healthcare, educational services, water management and cattle health management with the help of several service providers including organizations. When Classmate notebooks were launched, it came up with the initiative of contributing 1 rupee towards the education of poor children, from every single notebook it sold.

ACKNOWLEDGEMENT

ITC Limited is one of the most reputed companies of India. I am thankful to ITC to have given me this opportunity to work with this prestigious company and it was an honour for me. I have been working at the ITC-Eastern District office and it has been a thrilling experience for me. This is my first work experience and I have been gifted to be a part of this company.

I worked as an intern in this company for a period of one month and it has been very knowledgeable for me as I got to learn a lot of things during this short period. First and foremost I got to know how the work culture is in an office and also how the atmosphere is. It has helped me realize as to how I can prepare for my future. I got to learn a lot of things and how finance was applied in reality.

I would like to thank Mr. Debal Bose, Assistant Finance Manager, for giving me this opportunity and for also supporting and encouraging me during this period. I would also like to thank Mr. Sabyasachi Bagchi under whose supervision I have been working. He was my mentor and guide during this period as an intern. He was very supportive and he made it very easy to work on this project. He provided me with information and also helped me to understand everything worked. Without him and his support it would have much harder and hence he was truly a good mentor and I would look forward to working with him in the future if given the opportunity.

It has been a great experience working for this company and I hope I can later in the future. Everything that I have learned will be of great importance in my life and I will truly remember this experience.

And lastly, I would like to thank my parents who have always supported me and believed in me. Without them nothing would have possible.

Sincerely,

Arkyadeep
Chowdhury.

-----------------------
5. Allocate labour for unloading & stack the stocks as per norm

4. Inspect the area

3. Allocate Bays by Categories/Sub Categories

6. Receipt of stocks in system

5. Physical stock verification

4. Intimation of Unloading/Stacking of stocks

3. Document verification

2. Arrival Information of the truck

1. Determining the expected number of trucks

Receipt of Goods

2. Determine total space req[pic]25L?·¹ÐÔæèíîïø [pic] |‚ƒøæ×ȹȱȢȚ‰}th`hUL;uirements

1. Get intimation of Receipt

Stacking of Goods

Physical checking of stocks

1A. Identify damage/aged stocks & report

2A. Get SPR report from SAP and stock position report

3. Check the date of manufacture of stocks to ensure FMFO

1B. Segregate the stocks based on instructions & update the system

2B. Compare SPR reports with physical count

2C. Report & Reconcile stocks if mismatch

Receiving DO Instructions

1. Receive information from Unit, post creation of shipment

2. Retrieve individual shipments in the system

3. Populate Transportation vendor code

Dispatch of Stocks

1. Check-in trucks for dispatch

2. Fetch SKU’s in warehouse based on the loading sheet

3. Load the trucks based on dispatch priorities

4. Confirm loading & shipment completion

Documentation

1. Receive Proof Of Delivery from the transporter

2. Update Proof Of Delivery details in the system

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