...Introduction Background Steel Works Inc. is a manufacturer of custom and specialty use steels founded in 1980. Steel Works Inc. has earned a reputation as a high technology provider and within its two divisions, Specialty Products and Custom Products, the manufacture produces annual sales of around $400 million (1993 Figures) (Simchi-Levi, Kaminsky and Simchi-Levi 2008). The company is facing the following issues and have appointment a new head of their logistics group, Gary Lemming to address the issues: - Sales are down by 30% - Expenses have increased by 25% - Customers are leaving for other manufactures (loss in market share) - Service levels are low and customer cancellations and backorders are increasing - Inventory levels are very high, resulting in increasing inventory costs Purpose The purpose of this study is to determine the following: 1. What are the goals that Gary Lemming has been given by his CEO? How is the current performance impacting on Steel Works’ performance? 2. What are the operational goals and objectives of the Custom Department? What are the operational goals and objectives of the Specialty Department? 3. What are the operational challenges and objectives that Lemming faces from the departments? 4. How aligned are the departments within Steel Works? How do you anticipate that their individual performances align with the strategic goals and objectives of the company? 5. What does the current data tell you about Steel Works Inc. current business...
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...SLAG - IRON AND STEEL December, 2014 16-1 SLAG - IRON AND STEEL 16 Slag - Iron and Steel S lag is a by-product generated during manufacturing of pig iron and steel. It is produced by action of various fluxes upon gangue materials within the iron ore during the process of pig iron making in blast furnace and steel manufacturing in steel melting shop. Primarily, the slag consists of calcium, magnesium, manganese and aluminium silicates in various combinations. The cooling process of slag is responsible mainly for generating different types of slags required for various end-use consumers. Although, the chemical composition of slag may remain unchanged, physical properties vary widely with the changing process of cooling. In an integrated steel plant, 2 to 4 tonnes of wastes (including solid, liquid and gas) are generated for every tonne of steel produced. A c c o r d i n g l y, t o d a y t h e e m p h a s i s i s o n t h e avoidance of waste generation, recycling and reuse of waste, and minimising the adverse impact of disposal on the environment. Among all the solid/liquid wastes, slags generated at iron making and steel making units are created in the largest quantities. With increasing capacities, disposal of large quantities of slag becomes a big environmental concern and a critical issue for steel makers. Over the last few years, with a better understanding of slags, its functions and improvements in process technologies have led ...
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...industry invented the first steel plow, John Deere had made it exponentially faster, and facile, to plow the great prairie. The steel plow is arguably the topmost invention in farming in the Midwest...
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...Gopal Iron & Steels co. (Gujarat) Ltd. -A Managerial View A Report by:- Mohak Bhandari, Sambhav Jain, Harsh Patel, Bharat Gabra Table of Content SR.NO | Particulars | Page. no | 1 | Company Overview | 3 | 2 | Industry Overview | 4 | 3 | Company Details | 6 | 4 | Shareholding Pattern | 7 | 5 | Financial History | 8 | 6 | Management Practices | 9 | 7 | Operation Management | 10 | 8 | Process | 11 | 9 | Management | 12 | 10 | Labor Response | 13 | 11 | Globalization Responses | 14 | 12 | Change and Innovation | 15 | 13 | Leadership | 16 | 14 | PESTLE Analysis | 17 | 15 | Conclusion | 18 | Company overview Gopal Iron & Steels Co. (Gujarat) Limited (GISCO) is established in the year 1994. We are a leading manufacturer of Structural Steels, Bars and ERW Tube / Pipes in the state of Gujarat. Over the years, GISCO has been continuously upgrading with latest technology and infrastructure. GISCO has earned the status of preferred steel manufacturer for traders, customers, engineering, construction, infrastructure and other primary industry. Since its inception, as Gopal Rolling Mills Private Limited, the company has never looked back. Every year has brought enormous rewards not only in the form of revenues and records, but also in the form of continuously growing customer base. The company was converted into a Public Limited Company in the year 1995 and since then it is known as Gopal Iron & Steels Co. (Gujarat) Limited...
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...Manikandan Tata’s Corus Valuation Introduction: Tata Steel was established by an Indian, Jamshetji Nusserwanji Tata in 1907. Though he died in 1904, before the project came to light, he sowed the seeds for a company that can stand the test of times. A century later, they took over Corus to become the 5th largest steel producer in the world. On January 31st 2007, Tata Steel took over Corus for USD 12.11 Billion. It took 9 rounds of bidding against a Brazilian competitor, CSN to seal the deal. The deal between Tata and Corus was officially announced on April 2nd 2007 at a price of 608 pence per common share in cash. It was a 100% acquisition and a new entity was born, to be run by one of Tata’s subsidiary in London. When the acquisition process started off in 2005, the initial offer was 455 pence and finally ended with Tata paying 608 pence, which is 33.6% more than the initial offer. This raises many an eyebrows about the final price. What transpired between 2005 and 2007? Was 608 pence/share a fair price? Steel Industry Tata Steel has its own mines and manufacturing units for the production of all kinds of steel. Steel is an alloy consisting mostly of iron, with carbon content between 0.2% and 2.1% by weight depending on the grade. Iron, like most metals, is found in the Earth's crust only in the form of an ore, i.e. combined with other elements such as oxygen or sulfur. Iron imputed with carbon forms steel. Carbon is the most cost-effective alloying material for...
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...importance for employee relations and satisfaction in the work place - Competetive advantage and a unique stratetegy What are the most important aspects of Nucor’s overalle approach to organization and control that help explain why this company is so successful? - Recyclng steel in efficient mini-mills is the secret of Nucor’s success - Location has also played a part in Nucor’s success - Strategy has been one of the biggest factors of success of Nucor Would you like to work for Nucor? Yes, because it not only take care of employees but also take care of employees family. Nucor provides various benefits plan of employees. Nucor provides performance based compensation. Why have competitors not been to imitate Nucor’s performance so far? Adopted the technological advancement. Manufacturing facilities economically and operating them productively. Nucor has effective HR policies. 1. Why has Nucor performed so well?a. Is Nucor's industry the answer? Is it the "mini-mill" effect?c. Is it market power )scale economies)?d. Is it a distribution channel advantage?c. Is it a raw material advantage?f Is it a technology advantage?g. Is it a location advantage?h. Is it the result of an entrenched brand name?i. Is it Nucor's choice of a unique strategy? j. Is it Nucor's ability to execute its strategy Nucor’s focuses on 2 major competencies i.e. building steel manufacturing facilities economically and operating them...
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...of Austria, the Glock pistol was the first of its kind to combine polymer and steel components in a single firearm. Glock pistols are also the first to introduce a material enhancement technique known as Tenifer. The combining of polymer and steel components along with the introduction of a Tenifer finish has revolutionized the world of handguns. This literary review examines the three main components that make up a Glock Safe Action Pistol: the development and use of polymer in the frame, use of ordinance grade steel, and the Tennifer® anticorrosion finish applied to the ordinance steel in the handgun. This examination of Glock components will reveal the composition of the selected materials. I will also bring to light any environmental and safety issues. Lastly, this review will discuss the impact of these materials on the firearms industry. Glock Essentials pg. 3 To begin with, as previously stated Gaston glock of Austria Developed and introduced the Glock pistol in 1982. Being that Mr. Glock had no previous firearm experience, developing pistols for the Austrian army would be thought of as a challenge. However this was not true due to the fact that Mr. Glock was proficient in the manufacturing of plastic components such as curtain rods and curtain rod rings. Even more importantly, Mr. Glock realized the strength and durability that could be obtained by combining plastic and steel parts to function in sync as seen in the Glock pistol. The glock safe action...
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...1)Sources of Industrial Growth a)Industrial Technologies i)Most impt tech development was new iron + steel production techniques- Henry Bessemer and William Kelly invented process to turn iron to steel, possible to produce large quantities and dimensions for construction, RRs ii)Steel industry emerged in Pennsylvania and Ohio (Pittsburgh notably)- iron industry existed, fuel could be found in PA coal iii)New transportation systems emerged to serve steel industry- freighters for the Great Lakes, RRs used steel to grow + transported it (sometimes merged w/ one another). Oil industry also grew b/c of need to lubricate mill machinery b)The Airplane and the Automobile i)Development of automobile dependent upon growth of two technologies: creation of gasoline from crude oil extraction, and 1870s Eur development of “internal combustion engine”. By 1910 car industry major role in economy ii)First gas-car built by Duryea brothers 1903, Henry For began production 1906 iii)Search for flight by Wright Bros lead to famous 1903 flight. US govt created National Advisory Committee on Aeronautics 1915 to match Eur research c)Research and Development i)New industrial technologies lead companies to sponsor own research- General Electric established first corp lab 1900, marked decentralization of govt-sponsored research. At same time cnxn began btwn university research + needs of industrial economy- partnership btwn academic + commercial d)The Science of Production i)Principles of “scientific...
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...Gaither Elements of a Marketing Plan Pacific Steel & Recycling, Inc. formerly known as Pacific Hide & Fur Depot, has grown from it humble beginnings in 1885 as a buyer of animal pelts, to a company that recycles ferrous scrap metal, paper, cars, aluminum, copper and also sells new steel to the public. The company is has branches in 9 western states, with headquarters in Great Falls, MT, and 1 branch in Alberta, Canada. (Pacific Steel & Recycling, 2015) Key environmental forces: Pacific Steel & Recycling strives to pursue practices that will lead to environmentally friendly decisions and ecological responsibility. Making decisions and creating lifestyles that will help protect the environment while also protecting natural resources is one of the key elements driving the company. One practice supporting this vision is to keep material that is recyclable out of the solid waste streams, making a more responsible use of landfills and turning valuable scrap materials into new products. The company has developed a partnership with the community through trade relationships and the people the company serves. (Pacific Steel & Recycling, 2015) Changes in purchasing patterns: As with oil, steel and scrap prices fluctuate on a regular basis, with the last two years dealing with very low prices scrap markets. As a result the company kept a keen eye on the market and was very careful in purchasing new steel to sell so as not to have inventory overages of material...
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...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 thanks to my beloved head of the department Mr………………………… DECLARATION I have by solemnly declare that the dissertation work / project report entitled ‘WORKING CAPITAL MANAGEMENT’ in ‘SUJANA METAL PRODUCTS LTD., is genuine and bonafide work done by me and is not submitted to any other university or published any...
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...Knives Knife blades are made using low carbon steel. The initial shaping of a knife is done through forging or blanking. When forging, the blade material is heated to a high temperature or forging temperature in a forge and shaped with a hammer on an anvil to achieve the desired shape, often to near final dimension, where very little stock removal, if any, is required to finish. Steel can be folded either to form decorative pattern welded steel or to refine raw steel, or as the Japanese call it, tamahagane. Grain size is kept at a minimum as grain growth can happen quite easily if the blade material is overheated. In a mass production environment, or in a well-equipped private shop, the blanking process is used to make "blade blanks." This can be achieved by a number of different methods, depending upon the thickness of the material and the alloy content of steel to be cut. Thinner cross section, lower alloy blanks can be stamped from sheet material. Materials that are more difficult to work with, or jobs that require higher production volume, can be accomplished with water jet cutters, lasers or electron beam cutting. These two lend themselves towards larger custom shops. Some custom knife makers cut their blanks from steel using a metal-cutting band saw. Knife makers will sometimes contract out to a shop with the above capabilities to do blanking. For lower production makers, or lower budgets, other methods must suffice. Knife makers may use many different methods to profile...
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...his companies emerged the steel to build the infrastructures such as railroads, bridges, automobiles, and ships that would build a nation in need of direction. He played a major role in the transformation into the Industrial Revolution, producing the steels to make machinery and transportation possible. Carnegie built his empire from cost control, low prices, low profits, and high volume to make himself the richest man in the world. Some people call him a villain, some people call him a hero? So, was Carnegie really a business hero in American history? Andrew Carnegie was born in a very poor family from Scotland. His first job was at the age of thirteen; he was working as a bobbin boy in a cotton mill. It was his second job in which he was able to learn many important structures of business. Working most of the day, he never had time to go to school like other kids. Therefore, he went to the library to study whenever he has time. He later was hired by Thomas A.Scott to work as a private secretary and a personal telegrapher. When the Civil War came, he was the right hand man of Scott, who was the supervisor of military transportation for the North back then. Working as Scott’s right hand man, Carnegie was able to gain experience in the railroad industry. After the Civil War, Carnegie took Scott’s former position as superintendent of the western division to the Pennsylvania Railroad. Andrew Carnegie formed his wealth by the production of iron and steel, and some of which was used...
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...Assignment: #4 Case #10 Nucor Corporation BUS 599 Discuss the trends in the steel industry and how it may impact Nucor’s strategy. After the 2008 financial and economic crisis, the world steel industry’s recovery has been uneven, but it is recovering faster than expected. The global steel production declined from 129 million metric tons (mmt) in March 2011 to 127 million metric tons in April 2011. However, production increased 5 percent from April 2010. As of the April 2011 first quarter reporting, the United States has produced 28.3 mmt, which is up 6.8% from the same period last year [ (Leybovich, 2011) ]. “In a report earlier this month, the Organisation for Economic Cooperation and Development (OECO) forecasts that global demand for steel would increase 6 percent in both 2011 and 2012. Growth over the next few years is expected to be considerably faster in emerging markets than in developed ones [ (Leybovich, 2011) ].” Nucor is the second largest steel producer in the United States, only behind U.S. Steel. Nucor is considered a low-cost steel producer in the U.S. and the most efficient and technologically advanced steel producer in the world [ (Thompson/Strickland/Gamble, 2010) ]. Nucor is North America’s largest recycler, 17 million tons in 2010, and uses the scrap steel as the raw material to produce steel and steel products [ (SEC filings Nucor Corporation Form 10-K, 2011) ]. Employing multiple approaches, Nucor’s growth strategy...
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...BSRM Steels Ltd. Work Plan for SWOT Analysis Duration: 2 months (15th February to 15th April) Project Manager: Mr. Mahmud SWOT Steps/Activities | Data Sources | Data Collection Method | Responsible Person | Working Group | Logistics Supports | Required Fund | Timeline | Remarks | Analysis of General Environment | Primary & Secondary | Survey, govt. & regulatory publications, etc. | Mr. Adnan & Mr. Masud | 4 | Transport, survey instruments, technological support. | TK. 100,000 | 15th Feb to 14th March | Info gathered from both sources. | Analysis of Industrial Environment | Secondary | SEC publications, industry competitive analysis, business journal, industrial publications etc. | Ms. Shanila& Ms. Sinthia | 3 | Company’s database access, Technological support, analyzing tools. | TK. 70,000 | 15th Feb to 14th March | | Analysis of Internal Environment | Secondary | Company profile, minutes of meetings, financial statement etc. | Mr. Muhib | 2 | Factory inspection, company’s database access, analyzing tools. | TK. 50,000 | 15th March to 31st March | | Describing 1. General OT 2. Industry OT 3. Internal SW | Secondary | Findings from external & internal environment analysis | Ms. Tahmina | 1 | Technical support, fact finding tools. | TK. 20,000 | 1st April to 14th April | Describe the findings of previous steps | Strategic Conclusion | This work plan will be taken as cornerstone of SWOT analysis of BSRM Steels...
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...Background Eastern Waves Inc. is a steel manufacturing company located in Kuantan, Malaysia. In 2009, Eastern Waves’ cash on hand was 188 ringgits (RM). In the previous year, they had an even lower cash balance of RM188. Without cash, Eastern Waves are unable to purchase raw materials from local raw material suppliers. Eastern currently has a joint venture relationship with Jinan & Iron Steel Corp., which enables Eastern to buy scrap steel on credit from the Jinan plate mill operation. This scrap steel is crucial to Eastern’s success given the market price of the purchased raw steel billets. However, the scrap steel is of a lower grade than the standard raw steel billet. The new government policy on steel will make doing business increasingly difficult. The new policy is expected to generate more business for local and government suppliers. In 1997, Malaysia was hit hard by the Asian financial crisis. In order to rescue some of the largest state-owned companies, the government imposed several strict trade barriers on certain goods. Included under law in these protected goods are steel billets, the raw material for use in the downstream steel industry. The steel industry and Eastern Wave Inc. The steel industry in Malaysia is divided into two subsectors, the manufacture of long steel products and the manufacture of flat steel products. Long products include billets, bars, and wire rods and are widely used in the construction industry. Flat steel products include tin plates...
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