Summer Internship Project on Client form Database and Inventory Management PDF

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APROJECT REPORTON“Client Database Form and Inventory Management ofConstruction Equipment Spares”A Summer Internship Project (SIP) done inSarada Equipment, Navi Mumbai.“OPERATIONS”Submitted in partial fulfillment of the requirement for the award of degree of Master of Management Studies (MMS) under t...

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A PROJECT REPORT ON

“Client Database Form and Inventory Management of Construction Equipment Spares”

A Summer Internship Project (SIP) done in Sarada Equipment, Navi Mumbai. “OPERATIONS” Submitted in partial fulfillment of the requirement for the award of degree of Master of Management Studies (MMS) under the University of Mumbai Submitted by

AKANKSHA UMESH CHHATRY ROLL NO: 12 BATCH: MMS-Operations

PRN: 2015016401738376 ACADEMIC YEAR 2020-2021

Under the guidance of Dr. MANISHA SHUKLA

Bharati Vidyapeeth’s Institute of Management Studies & Research Navi Mumbai

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ACKNOWLEDGEMENT The internship opportunity I had with Sarada Equipment was a great chance for learning and professional development. Therefore, I consider myself as a fortunate individual as I was provided with an opportunity to be a part of it. I am also grateful for having a chance to interact with so many wonderful people and professionals who led me though this internship period. Bearing in mind previous I am using this opportunity to express my deepest gratitude and special thanks to the CEO Mr. Nandan Nag and Mentor Monali Korkare of Sarada Equipment who despite being extraordinarily busy with his duties, took time out to hear, guide and keep me on the correct path and allowing me to carry out my project at their esteemed organization and extending during the training. I perceive as this opportunity as a big milestone in my career development. I will strive to use gained skills and knowledge in the best possible way, and I will continue to work on their improvement, to attain desired career objectives. I would also like to express my indebtedness appreciation to our mentor Dr. Manisha Shukla. Their constant guidance and advice played the vital role in making the execution of the report. They always gave me his suggestions that were crucial in making this report

Signature of the student

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CERTIFICATE This is to certify that the Summer Internship Project (SIP) titled “Client Database Form and Inventory Management of construction equipment spares” is successfully done by Miss. Akanksha Chhatry Roll no 12 Batch - MMS Operations, Academic Year 2020-2021, a student of Bharati Vidyapeeth’s Institute of Management Studies and Research, Navi Mumbai, submitted in partial fulfillment of MMS-Master of Management Studies program affiliated to the University of Mumbai from 13th May 2020 to 15th July 2020 at Sarada Equipment.

Date: ___________

_________________

_________________

Dr. Manisha Shukla

Dr. Anjali Kalse

Project Guide BVIMSR

Director BVIMSR

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TABLE OF CONTENTS Sr.No

Particulars

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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17.

Acknowledgement Company Certificate Institute Certificate Table of Contents Chapter 1: Introduction of the Project 1.1: Concept & Significance & Need of the Study 1.2: Objective of the Study 1.3: Scope of the study 1.4: Introduction to the topic 1.5: Importance of service product catalog 1.6: Application Product Management 1.7: Literature Review Chapter 2: Introduction to Construction Equipment Industry 2.1: Overview of Construction Equipment Industry 2.2: Equipment lease Agreement 2.3: Global and Indian Construction Equipment Market Size 2.4: Construction Equipment Rental Business – An

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10 15 18 20

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Opportunity 2.5: Growing investment in the Construction Equipment

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Rental industry 2.6: The benefits of Construction Equipment Rental

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1 2 2 3 4 4 6 10

Business

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Particulars

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20. 21.

2.7: Current Market Players in India 2.8: Inventory Management of Equipment manufacturing

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22. 23. 24.

Companies 2.9: Benefits of Inventory Management system 2.10: Inventory control Techniques Chapter 3: Introduction to the Company

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25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36.

3.1: About Sarada Equipment 3.2: Product Overview 3.3: Sarada service network 3.4: Competitors of Sarada 3.5: Client and Potential Customer 3.6: SWOT Analysis Chapter 4: Research Methodology 4.1: Research Design and Source Chapter 5: Data Analysis and Interpretation Chapter 6: Conclusion & Suggestion Chapter 7: Learning Experience from the project Bibliography

29 30 33 34 36 38 42 42 43 48 50 51

CHAPTER 1 INTRODUCTION TO PROJECT A construction equipment company needs to maintain large number of clients and customers to rent or sale large equipment and spare parts for a certain period of time. To maintain the record of such transaction a client form makes a useful database where the employee can easily manipulate update and save the client information and their requirements. Along with records of the client, the equipment and spare parts used in construction and mining are also tracked recorded and stocked for which the inventory management of the company plays an important role to track all the stocks, track the quantity and if minimizing then restocking it back. Therefore, an inventory reports comes in handy to analyze these records.

1.1.

Concept & Significance & Need of study Construction equipment is machinery used to build and demolish bridges, buildings and other structures. These machines usually save labor time and money. One of them can do more work in an hour than a hundred of workers using hand tools could do in a day. The chief kinds of building machines include earthmoving machineries hoisting, material handling machines and pumping machines. Other construction machinery used are for preparing the land and materials for construction. Demolishing machines are used to demolish structures and buildings. There is contractual supply for these machines across the country which makes it necessary to build a platform where the transaction of where the equipment, spare parts and machines have been transported on the field and which company will be using their rental services should be recorded. Therefore, the use of a mobile, computer or an tab application of feeding these data at the current times of the deal makes is viable to store the accurate data by the employee. Hence, making the rental services work efficiently. Page | 1

Also, the number of machines and spare parts should be tracked with the help of inventory management and the in and out of equipment manually recorded are maintained.

1.2 Objective This research was aimed to analyze Indian construction equipment industry and the underlying opportunities and challenges. The research was conducted on the foundation of following objectives:  To gain an insight and analyze of current market, future expectation, the clientele of Indian Construction equipment company.  To create a client database form using AppSheet.  To study the inventory management of spare parts of rental equipment company.

1.3 Scope of the study This research was an attempt to assess the current status of Indian construction equipment industry and the underlying opportunities and challenges. However, the aspects and objectives that were dealt in the research are the current structure, status, competition, financing opportunities and challenges of Indian construction equipment industry. The research was conducted wholly based on secondary data. Following are the key findings of the research. Indian construction industry has entered a new phase, where prospect of the industry appears extraordinary bright. Indian construction equipment industry is passing through a phase of hurried renovation, where the shifting is taking place from low volume concentrated use of equipment structure to high volume explicit one. Apart from these, the current and future trend also shows that the key segments of Page | 2

construction equipment that will have potential market prospects are excavators, loaders, dozers, dumpers, and cranes. The growth of Indian construction equipment industry is the outcome of the fast liberalization and globalization of the Indian economy and the construction sector. The real competition in Indian construction equipment industry has been created by foreign players such as Volvo, Komatsu and many others. These companies are leaving no stone unturned to exploit the opportunities in Indian industry. The industry is at the critical juncture (particularly for domestic players) and therefore companies need to equip with safety measures in relation to post – WTO market setting. Due to the never-ending demands of equipment and machineries and advance digitalization for a company to work efficiently, inventory management is important. Inventories occupy the most strategic position in the structure of working capital of most business enterprises. It constitutes the largest component of current asset in most business enterprises. In the sphere of working capital, the efficient control of inventory has passed the most serious problem to the cement mills because about two-third of the current assets of mills are blocked in inventories. The turnover of working capital is largely governed by the turnover of inventory. It is therefore quite natural that inventory which helps in maximize profit occupies the most significant place among current assets. 1.4 Introduction to the project This project is an exposure of the construction equipment rental industries of how to make their companies a digitally active platform giving full exposure to the statistics and data of responsive websites, CRM, AppSheet, search engine optimization can help in boosting the brand and image of the company and be unique in their own way. Also, Page | 3

this project consists of the creation of the client database form using Google Appsheet which is a no-code application platform freely create and use by an individual to store the information of the potential customer and future clients in the database even if the employee on the field using this application on a mobile phone or tablet. 1.5 Importance of Rental Service product catalog Nowadays, both B2C and B2B customers are well accustomed to searching for product information and shopping online. Therefore, business needs to have a wellmanaged online product catalog to meet these customer behaviors, ensure products are found and accessible online, and stay competitive. A clear and detailed ecommerce catalog will also help in industry and build trust.

Catalog & Content: Without a great process for delivering high-quality content on the product page, category pages, and other content pages it’s highly unlikely you will get many sales. This may require integrating with product systems like a PIM or other ways of aggregating content like Utilize or other content providers

1.6 Application Product Management

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 Storing/Organizing A business has diverse needs to publish and store product catalogs - such as teams, geographies, campaigns, marketing themes, business units, industries, types, etc. Based on the unique needs of a business, content management systems can publish and store product documents for their users to access and use. These digital documents must be searchable - which means CMSs must attach tags and attach descriptions to them.

 Timely Updating All products change - while some of them are subtle changes, the rest are complete overhauls. For example, a hardware product such as a laptop or mobile phone may undergo several upgrades within a year. In these instances, it is vital to update product information continually. More so, in the case of sales teams because they are in touch with customers.

 Retrieving Product catalogs must be easily retrievable by users who need them the most. For example, an event marketer must be able to pull up his product datasheet on his iPad when he is staffing a booth or to talk to prospective customers on the sidelines. Content management systems help event marketers to deliver the right marketing collateral at the right time to the right prospect.

 Distributing to Users Page | 5

Product brochures must be distributable to enhance the user experience and help buyers compare products and decide instantly. One way of getting the attention of buyers is by creating personalized microsites with multiple product brochures, each of which conveys vital information. This way, buyers can glide through different brochures, and choose the one/s that suit them.

 Tracking/Analyzing Performance Users must be able to gain insights from the usage of product information sheets. It includes the number of views, downloads, re-shares, and time spent on each document. CMSs are powered by analytics capabilities that help product managers, marketers, and sales reps to efficiently analyze product performance, boost sales, and deliver a personalized user experience. For example, in an email campaign, sales reps must know which product catalog is providing the most value to buyers. It helps sales reps engage with customers meaningfully in sales conversations and fulfill their needs meticulously.

1.7 Literature Review 1) A study on equipment spare parts inventory control: a literature review Author: José Roberto do Regoa, Marco Aurélio de Mesquitab According to a report published by the pro duo in 2007, spare part inventory should be considered as different from another inventory. Spare parts are a must for the machinery of any company this report states that customers have high expectations from the products which can be only managed with quality products for which it is extremely important to have proper equipment spare inventory management. This report states that the new space is very complex. The life cycle of any equipment is continuously decreasing. Spare products today are much expensive in Page | 6

some segments damaged units can only be replaced with either new equipment or repaired equipment at this time inventory management of the company showed also consider the cost and repair time of any product Spare parts should be managed at single inventory management other than keeping it with another inventory. The article begins with specific forecasting methods for intermittent demand. Demand forecasting is employed to estimate the internal control parameters and, in some cases, also to decide what proportion to order at the replenishment time. Fortuin (1980) divides the life cycle of parts into three phases: initial, normal, or repetitive, and final. Throughout these phases, different decisions need to be taken: • To hold inventory or not: demands which are very low at the beginning of the life cycle (as well as in the end) lead the manager to question whether parts should be stored or not. For many items, the demand is so low that the choice of not storing, meeting the demand circumstantially after its occurrence could also be the best. • Initial orders: uncertainty about the demand growth hampers the design of the initial orders. • Inventory control: upon deciding that the part needs to be stored, an inventory replenishment routine is necessary, considering different goals (costs and/or service level) and demand behavior (trends and seasonality) . • Final orders: high production and maintenance costs of the productive processes related to low demands and expected lifespan of products lead companies to interrupt the assembly of parts at a given time. In some cases, the last production batch is increased to supply additional spare parts final inventory. These different decisions in each phase of the life cycle of parts are addressed within the following sections of this text.

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2) Spare Parts Inventory Management: A Literature Review Author: Shuai Zhang, Kai Huang and Yufei Yuan In this review, 142 studies on spare parts inventory management have been surveyed and classified. Our review has the following distinct features. Firstly, it provides a quick guide to a variety of classification schemes for spare parts inventory management literature. Two different typologies are used for the literature classification. One typology classifies the literature based on systematic characteristics of spare parts inventory systems, while the other typology is based on research methodologies and topics. Importantly, we classify the research methodology from the perspective of supply chain analytics. Existing studies using descriptive, predictive, and prescriptive analytics are identified. Secondly, this review presents a big picture on spare parts supply chains to discuss the studies on spare parts inventory management. This big picture links the vital aspects related to managing a spare parts inventory, such as product and spare part types, after-sales services, maintenance operations, inventory management strategies and policies, supply sources, and demand patterns, etc. Finally, research gaps and extensions are discussed. Among the discussed gaps, we emphasize combining spare parts inventory management with reverse logistics. This gap is worth exploring since more and more manufacturers are starting to collect the used products from customers to reuse or remanufacture. The studies in this research field have been experiencing steady growth in the last decade. Researchers have put plenty of effort into the study of spare parts of capital goods. We expect to see more studies on managing the spare parts of durable consumer goods. Moreover, new supply chain Page | 8

concepts such as reverse logistics and supply chain analytics bring new avenues to this field but must be tested and evaluated through more studies. One promising area for future research could be the study that combines the supply chain inventory management problem with big data analytics. Big data analytics could contribute to many aspects such as spare parts demand forecasting, spare parts inventory system optimization, and spare parts classification when many spare parts need to be managed. The second area will be how to integrate spare parts inventory management with supply chains sustainability concepts such as additive manufacturing and the circular economy.

3) A Study of Inventory Management System of Linamar India Pvt. Ltd, Pune Author: Anajali Mishra & Harshal Anil Salunkhe In this review, the author is focused on boosting inventory management to enhance the availability chain of the corporate. Drop-in inventory is considered one among the foremost significant aspects of inventory management. In practice, a small inventory level is not always a better solution, so manufacturers need to maintain the correct amount of inventory at the correct level. Also, inventory management is significant for keeping costs down, when meeting regulations. It is difficult to balance demand and provide and inventory management to form sure that the balance is untouched. The trained inventory management and good quality software will help make inventory management a victory. The ROI of Inventory management has seen better revenue and profits, positive employee ambiance, and a rise in customer satisfaction. Therefore it can be concluded that inventory management is important to each company, having inventories. Companies have stock, but such a lot on prevent from overstock and out-of-stock situations. Inventory management Page | 9

can better the company’s inventory control existing conditions and reduce costs of the company. Also, I found the difference between EOQ & the number of pieces purchased. It is observed that the company is not using EOQ for buying the materials. Therefore, inventory management is not reasonable. From an estimate of safety stock, a company can decide how much inventory the company can keep in back stock per annum. The finding of the study on basis of knowledge analysis is that there's a positive relationship between compet...