University of Mumbai

A project Report

On

STUDY OF BILLING PROCESS WITH REFERENCE TO RUBCO

Submitted by

PRANOY P. EDAMANAKULAM

In partial fulfillment for the award of the degree of

MASTERS OF MANAGEMENT STUDIES

SEMESTER – 3

2018-2019

Under the guidance of

Prof. BETTY SIBIL

 “MAHATMA EDUCATION SOCIETY’S
PILLAI’S INSTITUTE OF MANAGEMENT STUDIES AND
RESEARCH SECTOR-16, PANVEL-410206”
DECLARATION

I, Mr. Pranoy P.Edamanakulam, student of MMS, Pillai’s Institute of management

Studies And Research, hereby declare that I have completed the project report on “
Study Of Billing Process” in the academic year 2018-2019. The information submitted
by me for this project report is true to the best of my knowledge.

Date: Signature

Place:Panvel
 Certificate of Approval

This is to certify that the Project Titled “STUDY OF BILLING PROCESS WITH
REFERENCE TO RUBCO” as a part of curriculum of Master of Management Studies
submitted by MR. PRANOY P. EDAMANAKULAM a student of Pillai’s Institute Of
Management Studies And Research has been approved.

Name: Prof. Betty Sibil Signature of the guide

Date:
CERTIFICATE FROM ORGANIZATION
 ACKNOWLEDGEMENTS

No task is single man’s effort. Any job in the world however trivial or tough cannot be
accomplished without the assistance of others. An assignment puts the knowledge and
experience of an individual to litmus test. There is always a sense in a success. The
opportunity to express my indebtness to people who have helped me to accomplish this
task.

I would like to take this opportunity to acknowledge my gratitude to various people who
have helped for successful completion of the project. Their systematic guidance has
helped me to complete the project in a smooth manner.

I am extremely thankful and pay my gratitude towards my mentor Mr. SALIM, who
helped me out during my 2 months internship.

I feel highly indebted towards the Director of my institute Dr. Satish K. Nair and my
faculty guide Prof. Betty Sibil for her constant guidance and support which helped me to
make this project successful.

I extend my gratitude to my college “Pillai’s Institute Of Management Studies and

Research” for giving me this opportunity.

Last but not least; it would be unfair if I don’t express my indebtness to my parents and
all my friends for their active cooperation which was of great help during the course of
my training project.

Any omission in the brief acknowledgement doesn’t mean lack of gratitude.

 Executive Summary

This is a summer internship, experiential learning based project. This project consists of
information about Rubco mattress. Along with the above mentioned this project consist of
application of various tools, techniques and skill. It also contains the detailed information about
Billing Process. I have tried to put my observation on impact of my company i.e. Rubco and how
their mattress department works.

The project on “Billing Process” was carried at Rubco Mattress. The duration of the project was
two months. These two months are not only limited to learning and devoting time towards the
working under policies but it also provided an insight on working in the Company.
TABLE OF CONTENT

Sr. Particular Page No.

No.
PART A
1. INTRODUCTION OF THE PROJECT 8-9
2. BRIEF COMPANY PROFILE 10
2.1. Organization History 10
2.2. Top Management 10
2.3. Other Divisions 11
2.3.1 Turnover 11
2.3.2 Geographic 11
2.3.3 Employees 11
2.4. Vision and Mission of the Organization 12
2.4.1 Vision 12
2.4.2 Mission 12
3. INDUSTRY ANALYSIS 13
3.1. PESTEL 13-15
3.2. PORTER’S FIVE FORCES ANALYSIS 16-18
3.3. PORTER’S GENERIC STRATEGIES 19

4. COMPANY ANALYSIS 20
4.1. SWOT 20-21
4.2. 7S Framework to Analysis 22-23
4.3. Value Change Analysis 24-25
4.4. BCG 26-27
4.5. Ansoff Matrix 28
PART B
5. INTRODUCTION 29
5.1 Objective of the Study 30
5.2. Expected Benefits 31
5.3. Limitation of the Study 32
6. METHODOLOGY 33
6.1. Study of Billing Process of company 33-34

6.2. BILLING PROCESS 34-35

6.3. TALLY PROCESS 35
7. OBERSVATION 36
7.1 Classification of Observation 36
7.1.1. Organization Training 36-37
7.1.2. Self-Training 37
7.2 Trends 38
8. IDENTIFICATION OF CRITICAL ISSUES 39
9. CONCULSION 40
9.1. Trends in the Organization 40
9.2. Feedback given to Organization 41
9.3. Self-Learning 42
PART C 43
LEARING AND TAKEAWAYS 43-44
REFERENCE 45
 Part A

2. BRIEF COMPANY PROFILE

2.1 HISTORY OF THE ORGANIZATION

Kerala State Rubber co-operative Ltd, (RUBCO) has in short span, redefined the way the
co-operative sector functions and set the pace for the co-operative movement in Kerala today.
RUBCO was set up in the year 1997 with the objective of effectively utilizing the abundant
rubber resources in Kerala. RUBCO has also entered into technical alliances with the world
leader in the respective field, sourcing from them State-of-art technology. Substantial
investments in modern manufacturing facilities, coupled with well Organized market activities,
have been RUBCO’s products earn a reputation for quality and significant market shares.

RUBCO is the largest exporter of Natural Rubber in the country today. Even in the
domestic market, Rubco is a major supplier of natural rubber to all leading tyre companies in
India. RUBCO is also a Government intervention agency towards market stabilization and has
been serving the farming community directly and indirectly to get reasonable price, arresting
drastic fall in price during the peak production periods. Natural rubber trading has being a blend
of social obligation and commercial practicability led by a professional management team and
ably supported by a committed work force. RUBCO is now poisoned to enter a high growth
phase, with served new interactive that will take the group on a path of diversification and
expansion. Rubber holds immense potential for a wide variety of commercial uses which is yet to
be fully

Kerala State rubber co-operative Ltd(RUBCO) was set up in the year 1997, with the objective of
effectively utilizing the abundant rubber resources in Kerala. RUBCO has in short span,
redefined the way the co-operative movement in Kerala. Today from a single unit company
‘RUBCO’ has grown into Rs. 280 crores conglomerate with well diversified operations and a
market presence extending beyond boundaries of Kerala.

Kerala State Rubber co-operative Ltd (RUBCO), is situated in Kannur, Kerala state, India
is promoted by the provisional Government of Kerala to promote Rubber based industries in this
part of our country.

Today India enjoys 4th position in the production of Natural Rubber(NR) in the world.
Among the total production, small state of Kerala contributes 92%. So the rubber has become the
backbone of our economy. Due to the bad impact of globalization the overall market of the
rubber fell down in Kerala that time instability in price of rubber is one of the major problem that
the farmers facing in the market. The farmers were not getting fair price for their effort. But their
problem came into existence. In this year on the purpose of exploring the infinite possibilities of
rubber. Since its inception in 1997, RUBCO has travelled long. It has entered into various rubber
and rubber wood based industries like Hawaii chappal with reputed Malaysian technology, cycle
tires and tubes, Rubberized coir mattress, conventional and procured tread rubber, Block rubber
(SMR), Pale Latex crepe, Casual shoes etc. for at least over 16 decade with a vision to become a
Global leader in the production of natural Rubber and innovative product development, RUBCO
adopts the best and latest process in the production.

N their slogan itself they had mention that

“RUBCO means RUBBER and RUBBER means RUBCO”

2.2 Administration and Management of RUBCO

The administration and management of RUBCO vests in the Board of Directors

consisting of fifteen members as follows.
  Nine directors are elected by ‘n’ class shareholders from among themselves.
 Two directors elected by ‘B’ class shareholders from among themselves.

CHAIRMAN: Mr. E. Narayanan

He is a veteran co-operator and is holding various positions as chairman in central and

state level co-operative organization.

MD: Mr. Jacob D Mathew

He has more than 25 years of experience as CEO in corporate sector.

Other directors.

 Sri. V.N Vasavan

 Sri. George Mathew
 Sri. V Azeez
 Sri. Paneeri Mukhundhan
 Sri. M.V. koman Nambiar
 Sri. S.N. Chandran
 Sri. K.Manoharan
 Sri. V.P.Sadhasivan
 Sri. K.S.Gopi
 Sri. Jacob D Mathew
 Sri. Sthyabhama K.N
2.3 Other Divisions Of RUBCO

RUBCO Footwear Division

RUBCO’s footwear division manufactures a range of quality casual rubber footwear. The
plant manufactured under the renowned Malaysian technology RUBCO’s footwear range
presently comprises of three leading brands RUBCO Hawaii, RUBCO Rainbow and RUBCO
classic.

RUBCO Cycle Tyre & Tube Division

The plant has an annual installed capacity of 3 Million tyre and tube. RUBCO’s range of
cycle tyres & tubes has advanced features such as high non skid depth improved wet-skid
resistance and traction property and more mileage and puncture resistence.

RUBCO Huat Wood Pvt.Ltd

The furniture manufacturing plant has a processing capacity of 40000 Metric tones per
year. The products are being exported to UK, USA, Japan and many other countries across the
globe. RUB WOOD, the furniture range, comprises of dining tables and chairs, designer
Wardrobes, futons kitchen cabinets and computer and office furniture and is available in the
choice of designs and finish.

RUBCO Sreekandapuram Latex Pvt.Ltd

The company manufactures Block rubber (ISNR) and pale Latex Crepe(PLC). RUBCO is
in the process of expanding the scope of operations of this unit in line with market trends.

RUBCO Sales International Ltd

 RUBCO sales international (RSIL) is a public limited company promoted by RUBCO to
spearhead the sales and the marketing activities for RUBCO’s entire range of product in the
domestic and international market.

2.4. PRODUCT PROFILE

I. PRODUCT PROFILE OF RUBCO RCM DIVISION

Rubco manufacturers a wide range of mattress catering to diverse segment of the market. The
range consist of

Heaven

A premium model that provides unmatched sleeping comfort is available in 3 inch and 4 inch
thickness. Also available in customized dimensions and thickness for large quantities.

Heaven Plus

A luxury model that is elegant as well as comfortable which is 5 inch thickness.

Hi-tech

A hi-tech model with an accent of finish and luxury available in 5 inch thickness.

Hi-tech Pillow Top

Superior quality mattress finished to world class standard is available in 7 inch thickness.
 Dosth

An economy model that offers true value for money is available in 2 inch and 3 inches.

Safal

A regular mattress that combines comfort and durability is available in 3 inch and 4 inches.

Heal

This quality product is suitable for uses in the hospital. It is available in 3 inch and 4 inches
thickness.

Yathri

An elegant mattress mean for hotels, hospitals, tourist resort, etc. Yathri combines superior
sleeping comfort with perfect back support enabling a relaxed healthy sleep layer of
rubberized coir and latex enhance the comfort which soft and elegant quilting adds a
luxurious feel for use in hospitals is available in 3 and 4 inches thickness.

9.30 pm

It is economy model available in 3 inch and 4 inch thickness.

Other product from factory.

 Cushions

 Mats
 Cycle tyres

2.5. ORGANISATION STRUCTUTRE

ORGANIZATION STRUCTURE

Organization structure is the structure of the relationship among positions and the jobs created
for the purpose of accomplishing the objectives of the enterprise. It represents the pattern of the
relationships among the components of an organization. They are:

 The form of the structure

 The functions to be performed
 The human aspects

This pattern of relationship governs duties and activities of persons who are depend upon each
other for accomplishing the objectives of the enterprise. An organization structure should be
designed to clarify who is to do what tasks and who is responsible for what results, to remove
obstacles of performance caused by confusion and uncertainty of assignment, and to furnish
decision making and communication networks reflecting and supporting enterprise objectives.

The company’s organizational structure is diagrammatically represented by an organization chart

(a diagram representative of the hierarchy of an organization’s personnel). The organization chart
shows the line of responsibility between the various departments of the company.
 ORGANIZATIONAL STRUCTURE OF RUBCO RCM LTD

GENERAL MANAGER

A.P.O ACCOUNT OFFICER PRODUCTION MANAGER

STENOGRAPHER Jr. CLERCK

SHIFT IN CHARGE SHIFT IN CHARGE
PRODUCTION LAB

SECURITY WING PRODUCTION QUALITY

SUPERVISOR SUPERVISOR

TIME OFFICER
WORKERS WORKERS

RECEPTION

STORE KEEPER PURCHASE OFFICER ACCOUNTANT

Jr. CLERCK Jr. CLERCK Jr. CLERCK

2.6 MISSION AND VISSION OF THE ORGANIZATION: -

2.6.1. VISION :-

To ensure brand leadership in all manufactured and marketed.

2.6.2 MISSION :-

To develop brand equity and to ensure professional co-operative image through a

systematic working procedure.

RUBCO group has involved in a wide range of business such as;

 Foot wear
 Furniture
 Cycle tyre and Tube
 Rubberized coir mattress
 Natural Rubber
 Virgin coconut oil

New projects for Coconut Based Products

 Virgin coconut oil

 Activated carbon
 Coconut spray dried milk powder
 Packed tender coconut water
 Coconut water concentrate

Plant for casual/ sports shoe on progress

 Unit for automotive rubber components to be established

  RUBCO is in the process of setting up a project for the manufacture of tyres and tubes
for two/ three wheelers, passenger cars, heavy duty trucks and light commercial vehicles.
The project will be located in the proposed industrial growth center being

Organizational Goals and Objectives

Goal:

The organizational goal of RUBCO-RCM Division is to make RUBCO a leader in the

market of Rubberized coir mattress.

Objectives;

 Maximize the capacity of utilization of the existing.

 To increase the profitability of the company and to maximize generation of surplus to
enable RUBCO to finance its diversification projects.
 To execute production on time in accordance with the market demand of the product and
make available them to the distributors.
 To maintain and improve the existing cordial relationship between employees and the
management.
 To ensure strict quality control and ISI standards of products complete in the global
market.
 To maximize cost reduction.
 To introduce new varieties of mattress as to increase the wide range of mattress catering
to diverse segments of the market.
 3. INDUSTRIAL ANALYSIS

3.1 PESTEL:-

Political:-

Political factor indicates till what extent the government influences in the economy. A stable
political environment with respect to mattress industry helps in smooth function, which will help
to lead the industries The subsidies provided by the government in favor of mattress industry
also help to reduce the growth rate and help the organization reduce the amount of money that is
financed from abroad and directly reduce the interest paid in favor of the fund

Economic factors:-

Economic factors in mattress industry as witnessed a growth due to the entry of international
companies, these factor have major impact on how business operate and make decisions,
The organized market has taken lead by Kurl-On and Rubco the company offer variety of
product to the consumer, there is increase in growth of revenue as matter of increasing
infrastructure and hotels in the country.

SOCIO - CULTURAL FACTORS:-

Social factors include the cultural aspects and include health consciousness, rising health
consciousness lead to people buy comfortable as well as good quality products. This social factor
influence the demand for the products People are ready to spend money on good quality products
as well as the company offers varies product range.
Technological factors
With new technologies the production of mattress and the finish of the product had a great
impact, less workforce and great production capacity Furthermore technological shifts can affect
costs, quality, and lead to innovation.

Environmental factors
Mattress industries uses Coir, PU foams, Spring latex as raw material etc, Coir is bio-
degradable product and is coconut fiber product, the PU foams which are not environmental
friendly and chemical adhesive also harms the environment

Legal factors
Changes in governance or any policies with regards to industries may have impact on
employment, access to materials, resources, imports/ exports, taxation.

3.2 Porter’s five forces:

3.2.1 1. THREATS OF NEW ENTRANTS IS LOW: -

Mattress industries is not a high investment industry any one can establish a new setup one
should be properly aware of the market condition , market study is important and so to compete
with the existing segment leaders new technologies and cost management should be taken into
consideration
Rubco is not really affected by the competitive rivalry because they are the market leader of
the segment with maximum share in the industry their main competitor are sleep well , kurl on
mattress.
 THE BARGAINING POWER OF BUYERS IS MEDIUM: -

Supplier those who supply to Rubco are local parties in terms of there are plenty of
suppliers who provide raw materials there are various suppliers available in case the
supplier increase their price so the parties need to sell their products in affordable prices
which lead Rubco to sell the product in the expected prices

THREATS OF SUBSTITUTES ARE MEDIUM: -

As every product has a substitute so as the mattress there are different type of substitute
available in the market like cotton beds , feather bed as a fact Rubco company offers unlimited
warranty on mattress which made them segment leader.

THE BARGAINING POWER OF SUPPLIERS IS LOW: -

Here the buyer has less bargaining power with respect to other products because the company
offers life time warranty on their mattress for the consumers which make consumers assurity of
quality
And Rubco has wide ranges of products which helps buyer to chose from products

THE COMPETITIVE RIVARLIY IN THE MARKET IS VERY HIGH: -

Rubco company has many competitors like Kurl-on, Sleepwell which well established with
their new products as well as their quality products providing competition

3.3 PORTER'S GENERIC COMPETITIVE STRATEGIES

A firm's relative position within its industry determines whether a firm's profitability is above or
below the industry average. The fundamental basis of above average profitability in the long run
is sustainable competitive advantage. There are two basic types of competitive advantage a firm
can possess: low cost or differentiation. The two basic types of competitive advantage combined
with the scope of activities for which a firm seeks to achieve them, lead to three generic
strategies for achieving above average performance in an industry: cost leadership,
differentiation, and focus. The focus strategy has two variants, cost focus and differentiation
focus.

1 Cost Leadership
In cost leadership, Rubco sets out to become the high and low cost producer in its industry. The
sources of cost advantage are varied and depend on the structure of the industry. They may
include the pursuit of economies of scale, proprietary technology, preferential access to raw
materials and other factors. If a firm can achieve and sustain overall cost leadership, then it will
be an above average performer in its industry, provided it can command prices at or near the
industry average.

2 Differentiation
In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that
are widely valued by buyers. Rubco provides varies varieties of product in the market their
product ranges are Heaven, Heaven plus, Hi-tech, Dosth, Safal, Heal etc It selects one or more
attributes that many buyers in an industry perceive as important, and uniquely positions itself to
meet those needs. It is rewarded for its uniqueness with a premium price.

3. Focus
The generic strategy of focus rests on the choice of a narrow competitive scope within an
industry. The focuser selects a segment or group of segments in the industry and tailors its
strategy to serving them to the exclusion of others.
The focus strategy has two variants.
(a) In cost focus Rubco seeks a cost advantage in its target segment, while in
(b) Differentiation focus a firm seeks differentiation in its target segment. Rubco provides
varies varieties of product in the market their product ranges are Heaven, Heaven plus,
Hi-tech, Dosth, Safal, Heal etc . The target segments must either have buyers with
unusual needs or else the production and delivery system that best serves the target
segment must differ from that of other industry segments.

Conclusion:
As the company belongs to the Mass segment of the market.
Therefore, the focus will be on “Cost leadership” and on “Differentiation”.

4. COMPANY ANALYSIS

4.1 SWOT ANALYSIS - RUBCO MATTRESS

The overall evaluation of company‘s strength, weakness, opportunities and threats is called
SWOT analysis

STRENGTH
Rubco mattress division has variety of products and price range. In the company there exists
relationship between employee and top level management and among dealers and distributors.
Through effective marketing Rubco products could have acquired wide market acceptance &
customer preference within a short period of being time Style of leadership that company
following is leadership through dedication and coordination. That encourages employees of the
organization to work towards their organizational goals. The strength of the company lies with
the quality of their products, wide range of products capable to challenge variable environment
condition, goodwill, and customer service, technical advice marketing intelligence ,wide
network, and interaction with customers. Easy and quick availability of raw materials .Good
financial management system that exist in the organization.

WEAKNESS
Rubco is newly established company, most of the employees are fresher and therefore the
company has to conduct training programmers to improve their skill. So large volume of
productive time is consumed to make enable these in experienced workers to familiarize with
their work procedures to be followed Higher Rubco plans to expand their market in overall South
India; but transportation from Kerala to other markets will be a big burden they are facing in the
market when comparing to their competitors they can easily supply goods into market according to
market demand because they are having manufacturing plants in other states. Lack of promotional
activities abroad.

OPPORTUNITIES
Rubco RCM division is not yet fully using 100% utilization of existing machine capacity so
opportunities lie there. The factory can undertake new projects regarding projects .Opportunity
of identifying the regions where introducing more and more quality products so that structure can
withstands the different regional environment. Rubco - Rubberized Coir Mattress planning to be
entering into foreign markets. The company can enter in to coir /jute biodegradable geo textiles
at relatively low cost.
THREATS
Fluctuating price of raw materials Lack of Raw material Increasing competition Taste of
customer varies. Government policies.
RUBCO ensure high quality products due to which the price of the product is comparatively
high compared to its competitors. So there is possibility that customer can switch to its
competitors

4.2 7’s McKINSEY MODEL BACK GROUND OF THE MODEL:

The 7’s model is better known as Mc Kinsey’s 7s. This is because the two persons who
developed this model. It is developed by tom peters and Robert waterman. They published their
7’s model in their article “structure is not organization “(1980) and in their books “the art of
Japanese management” (1981) and in search of excellence (1982). Mc kinsey’s 7’s model
Structure Strategy System Shared Values Staff Style Skill An organizational study report of
Rubco Pvt Ltd. The 7’s model is a tool for analysis and action . So that the organizations
problems may be diagnosed and a strategy may be developed and implemented. The 7s of
Mckinsey’s are:
Strategy
Structure
System
Style
Staff
Skill
Shared values
These are the 7 s elements are distinguished in so called hard S’s and soft S’s. The hard
elements are practical and easy to identify. The four soft S’s however, are hardly feasible. They
are difficult to describe since capabilities values and elements of corporate culture are
continuously developing and changing. They are highly determined by the people at work in the
organizations.

Strategy -
Strategy of Rubco
Actions a company plans in response to or anticipation of changes in the external environment.

Strategy of Rubco Pvt Ltd

To provide social welfare measures to work force
To make the best and efficient
To recruit and select right person for the right job at the right time in the right place.
Production strategy of Rubco pvt Ltd Producing high quality of goods
Quick production of products or goods
Efficient use of raw materials
Minimize the waste in the production process

Financial strategy of Rubco Pvt Ltd

Maintaining the perfect accounting and auditing system
Reducing the block of capital
Maintaining the cash receivables

Marketing strategy of Rubco Pvt Ltd

To create new customers
To motivate the sales team
Making profit through customer satisfaction
Develop a pricing strategy

Structure

The structure typically hierarchically arranged in the lines of authority, communication, rights
and duties of the organization. Organizational structure determines the roles, power, and
responsibilities assigned to each department and heads. This structure purely depends on the
organizational strategy. The Organizational structure of Rubco which is then subdivided into
various other categorical brand i.e.; Rubco Woods , Rubco Footwear’s etc each of these major
division is headed by the President or Vice President and the power lies in the middle
management.

Skill

Skill The Rubco’s recruitment is mainly through advertisement in leading newspaper based on
the recruitment of the organization. The MD consulting with administrative personnel officer to
decide the number and type of people needed for the organization.
Training are provide to the employee, where the employee are taught individual learning , team
learning and organizational learning.
Style-
It says about how the decisions are made and the flow of authority in the organization. The
Rubco was using the participative leadership style order to take the decision is taken by the
management by discussing with concerned supervisors or workers. The organization is taking the
day to day decision such as the quality of output usage of materials, purchasing etc are
determined by the production manager to concerned supervisors or workers. So the decision
making is decentralized.

Staff
The term staff refers to the way organization introduce young recruits into the main stream of
their activities. Around 775 workers are working in the company. They are
Specialist / highly skilled workers – 35
Skilled workers – 146 Unskilled workers – 347 Semi skilled workers – 31 Learners – 54 Casuals
– 73 Saw workers – 35 Staff (including managerial staff) – 54

Shared values
It remains customer focused by providing the quality cost and through manufacturing excellence,
adopts a continuous of all organization activity to meet dynamic requirement of customers. It
empowers all employees across the organization to achieve total quality. The company aims at
customer delight by exceeding expectation blend of qualitycost-delivery of the company’s
products and services that company provides
4.3 Value chain analysis

Inbound logistics

Rubco purchase raw materials like coir , ceramic ball, spring , pu foams
From their local suppliers
The final product from this department is bare rectangular shaped rubberized coir block.
Rubberized coir is resilient and because of resiliency of the curled fiber. the purpose of rubber
latex is to bond the resilient coir fibers together and impart shape of the product.

Operations

PROCESSING OF COIR
Coir is one of the major raw material for the rubberized coir mattress, which is purchased as
bundles (140 bundles = 1 load). This purchased bundle may contain moisture in them. To
eliminate this moisture content it is kept in coir drier machine & by using steam from boiler it is
heated for three days, where specific temperature is maintained. Thus moisture content in coir is
brought Down to allowable limit of 5% or below.
Processing of latex (Compounding section)
The raw latex processing consists of two steps

Ceramic Ball milling Ceramic ball milling is a process in which chemical required for
the compound is grinded with ceramic balls to make it dispersion. There is 3 ceramic ball milling
machine of Rubco RCM factory .Compounding In this stage the above mode chemical
dispersion is mixed with latex in latex stirrer machines. Sufficient quantity of stabilizers also
added in to the above mixture at this stage.
SHEET FORMING STAGE
The production of rubberized fiber sheets are done by the computer controlled sheet forming
machine. The 7 crore investment machine generally called DOA is imported from Austria. This
section has units under it. Untwisted unit Distributor and first spraying section Drier and second
spraying section. Cutting table Here completely dried and tempered rope are fed in to the
untwisted unit were the ropes are opened up to make it coir fibers and curled coir fibers are
thrown by a cyclone‘in to a feeding conveyor. Fibers are opened further with air from
compressors and supplied to a sheet former. The sheet former takes the fiber over and
pragmatically produces sheet with partly vertical fiber orientation adjustable width and surface
weight. The sheet is sprayed with compounded latex from the top in the automatic spraying
section called spraying gun. The sheet is then dried in its passage through the tunnel drier. After
drying in its first passage, the sheet is automatically turned over and sprayed with compounded
latex on the other side. After the final drying the sheets are cut to the required size in automatic
cutting machine.
PRESSING STAGE
The sheet formed from DOA machine are piled up and progressed in a continuous roller press to
get the desired weight. Then these sheets and the hand sprayed in a spraying booth with
compounded latex these progressed parts arekept in a hydraulic hot press to active the required
dimensional stability.
VULCANIZING STAGE
The pressed pads are then loaded in a trolley and further processed, in aVulcanize to give the
desired resilience to the product. On Vulcanization properties such as tensile strength, heat
resistance and resistance to ageing of rubberized coir are improved.

TRIMMING
After Vulcanizations the bare blocks are cut in machine called band saw to form rectangular bed
like a block of desired length and width.
FINAL INSPECTION
After final inspection and checking this bare block are given the furnishing department for
further processing

Outbound logistics

Rubco is a leading mattress company In India

It has a huge number of market share, it is manufactured with the international standards

Primary activities

 Company has quality control Department for having control over the quality of
material which have to use in production.
 Company inspect the truck which are bringing material in side the company. They
inspect the quality of the material, quantity of material, weight, etc.
 Company elected group of people for doing inspection of production and any aspects
which is related to the product. Like quality audit.
 Company has strong transportation system for delivering goods from one place to
another when buyer wants.

Sales and Marketing:

  In mattress industry Century rubco has established good image hence there is
movement for Sales and marketing Department.
 Marketing team work on bring new party and product development with existing
product.

4.4 BCG MATRIX:

Stars

The business units or products that have the best market share and generate the most cash are
considered stars. Monopolies and first-to-market products are frequently termed stars. However,
because of their high growth rate, stars also consume large amounts of cash for Rubco mattress is
star due to high market share and also due to higher cash consumption.
Cash cows

Cash cows are the leaders in the marketplace and generate more cash than they consume. These
are business units or products that have a high market share but low growth prospects. Rubco
footwear’s generate less cash because of strong competitors and old technologies.

Dogs

Dogs are units or products that have both a low market share and a low growth rate. They
frequently break even, neither earning nor consuming a great deal of cash. Rubco virgin oil
named as Nutrico are new to the market so they have low market share and growth

Question marks

These parts of a business have high growth prospects but a low market share. They consume a
lot of cash but bring little in return. Rubco huat woods consume lots of cash and have low
market share
4.5 Ansoff’s matrix

Market Penetration: In market penetration strategy, the organization tries to grow using its
existing offerings (products and services) in existing markets. In other words, it tries to increase
its market share in current market scenario. This involves increasing market share within existing
market segments. This can be achieved by selling more products or services to established
customers or by finding new customers within existing markets. Here, Rubco company seeks
increased sales for its present Mattress in its present markets through more aggressive promotion
and distribution. Offering discounts and providing attractive offers achieves market penetration
through products under the line .

Market Development: Market development is the name given to a growth strategy where the
business seeks to sell its existing products into new markets. Rubco is growing their sales reach
all over India and international markets also

Product Development: Product development is the name given to a growth strategy where a
business aims to introduce new products into existing markets. Rubco introducing low cost , as
well as high end mattress so that it is compatible for the consumer and attract large number of
customer providing mattress which are made of springs and pu foams, which leads to more
comfortable experience of mattress .

Diversification: Diversification is the name given to the growth strategy where a business
markets new products in new markets. This is an inherently more risk strategy because the
business is moving into markets in which it has little or no experience. Rubco entering into
virgin oil production where the market and the product is new .
 Part C

Study Of Billing Process Of Rubco Company

Rubco Company billing process

Where the finance deportment provide the production team with chart prepared with all the
details regarding the mattress
And the production departments have to fill the following data

Finance is a backbone of every organization it is also the most important aspect of a business
therefore finance requires proper planning and control to achieve the objective of the
organization a proper financial management is needed for the proper functioning of the
organization . Efficient management is needed to funds how we can use money for getting
maximum output and for achieving the organizational goals

Finance is that managerial activity which is concerned with the planning and controlling pf the
enterprise financial resources it is an integral part of general management where money is
used for any integral part.
Initial investment
Initial investment refers to the determination of the total amount of the funds to be raised by
business enterprise Initial the company started with the initial investment of Rs 1.cr
Billing process:

Finished
Sales and Finance
Distributor Production Good
Shipping Department
Department

The sales process are recorded in the name of Rubco sales which is a in-house venture of Rubco
The distributor first place a order to the sales and shipping team for the mattress through mail or
phone, then sales team record the order in register with the parties name and quantity of the
product
Then sales team proceed the order to the production department and work order is generated
And then it is given to finished goods department where the products are dispatched and send to
the distributor with sale letter then after two days the bills which are generated by the sales and
shipping department send to finance department, then the invoice is generated through tally
software by finance department and then it is been reconciliated with sales team.
This is billing process of Rubco mattress

Rubco company uses tally software for their billing process. where sales entries, purchase
entries are recorded. as a intern my mentor assisted in recording entries in Tally software ,the
procedure is as follows
Objective of study:-
1. To study the billing process at Rubco
2. To study the various mechanisms those are used to record transactions at Rubco
3. To create and record accounting journal entries

Expected benefits:-
To provide accuracy in the company.
To make sure that there is no errors .

TYPES OF BOOKS USED FOR RECORDING ENTRIES IN COMPANY

Books of accounting

1.Day book
It is used for recording the daily transaction .all day to day expense and income are recording in
these books

2.Sales day book

It is used for recording the sales details it is include all customers transaction

3.Purchase day book

it is used for recording the transaction in a separate account

4.Stock register
stock register is used for recording the raw material details purchase and production details of
raw materials are recording in these book
5.Production register
it is like a stock register , finished goods details are recording in this book . the produced quality
of finished goods and how much quality is going dor sales a;; details are recording n the
production register

6.Creditors day book

It is used for recording the creditors details all purchasing transaction are recording in this book

7.Sales return book

It is used for recording the sales return of the product

8.Purchase return book

It is used for recording the purchase return of the product

9.Trail balance
It is use for the verification purpose it helps to check accuracy of the account

Ledger Creation

Create the following types of sales ledger and fill the related information required to create these
ledgers :

1. Local sales
2. Interstate sales
3. CGST
4. SGST
5. IGST
6. Item name
 7. Party Account

Steps to Create Sales

Step 1. Go to Gateway of Tally > Accounting Vouchers > F8 Sales. For invoice no, write the
serial number of the bill.

Step 2. In Party A/c name column, select the party ledger or the cash ledger.

Step 3. Select the relevant sales ledger. If it is local sale ,then select sales ledger for local
taxable sales and if it is interstate sale, then select the sales ledger for interstate sales.

Step 4. Select the required items, and specify the quantities and rates.

Step 5. In case of local sales, select the central and state tax ledger. If it is interstate sales, select
the integrated tax ledger.

Depending on your requirements, you can include additional details in your invoice by clicking
F12: Configure such as buyer’s order no, delivery note no etc.

Reconciliation
Rubco Company uses traditional methods for the billing process

As an intern my work was to reconcilate the bills which were printed

To check whether the amount has been properly put up.
To check whether if proper discount as been applied.
To check the serial number and dates .
To check the Gst rates are properly applied whether it is IGST , SGST , CGST .

Observations:

Classification of observations

The observations are based on the participant point of view of finance department.
 Organizational training

During my course of internship with I got an opportunity to have my organizational

training with a mixture of visits to various departments and interacting with various individuals.
The team I belonged to was Finance department. The finance team specially was flexible even in
their busy work schedule and made sure I understand the work process and important terms. All
updated information’s, knowledge and new perspective was shared with me. I also got first hand
experience to learn the basics of Excel and TALLY software used by all organizations. As
networking plays a vital role in understanding different module which helped me in
communicating with my higher authorities and understand the overall concept of basic about
financial aspects. I also had a chance to interact and work with senior management understands
the business from their point of view. I also had the opportunity to visit the production unit of the
company and understand the factory procedures under the guidance of my supervisor. Hence
with the management’s flexibility and the employees really being helpful it was easy for me to
sharpen my skills and learn new concepts quickly.

SELF LEARNING

During this course of internship for the period of 2 months, I tried to work on my
Interpersonal and Personal skills. I constantly tried to improve my communication skills,
listening skills to interact better with others. Working in Rubco has certainly helped me to
improve problem solving, decision making, and questioning abilities. I interacted with co-
workers and senior management and understood and analyzed their views on mattress industries .
My goal was to learn as much as possible in this limited duration hence I was focused and result
oriented towards my work. For me this whole summer internship program was about building
confidence, self esteem and finding the right motivation and preparing myself for the corporate
world in near future.
Identification of critical issues or problems

Even though the overall environment of Rubco is very good but during the duration of
my internship I came across certain problems which are:

Rubco stills uses old software’s throughout the billing process which is Tally, Companies now
use latest software’s such as SAP, and payment to suppliers are still done by remittance of
cheque in bank instead of online banking services . The duration of the internship that is the 2
months period there have been many instances wherein the staffs couldn’t figure out few things.
Not all process is automated so few things are done manually, hence it leads to errors.. There is
also conflict between the different departments regarding the documentation since they are
finding it difficult to coordinate with each other at times. Sometimes they also find difficulty in
maintaining their invoices. All the files take up a lot of space. Instead of keeping physical
invoice they must try to maintain a digital copy which would help in reducing the errors as well
as can get rid of too much files which are occupying a lot of space.

Conclusion:

Rubco understands the soul of Indian consumers. As one of India's retail pioneers with
multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers
and businesses. The collective impact on business is staggering: Almost 500 million customers
walk into our stores each year and choose products and services supplied by over 30,000 small,
medium and large entrepreneurs and manufacturers from across India. And this number is set to
grow.

Their main aim is to cater to all the section of the society, through their broadly spread
outlets with best in industry supply chain and network. From the start of modern retail they have
been fully into being a consumer’s organization. With bringing in human touch at their stores it
made very easy for the consumers to find out about the goods, getting to know about the goods
and the details about it, which imbibed the sense of belongingness amongst the consumers. After
this they went into ecommerce which brought products to our door steps, which made it very
easy for consumers to purchase whatever they want without going physically at the store and
made it very easy through apps and websites.

Their main USP is that most of their goods sold are produced and owned by them only,
this backward integration has helped them in cutting cost and providing consumers with better
quality products in cheapest cost.

Summary of feedback given to the organization

During the duration of two months I could learn a lot of things from the organization. All
the staffs as well as the senior managers were cooperative enough and would always find a way
out to help me. It was a very nice experience working in such a big firm where I got to learn a lot
about corporate world as well as my domain of interest i.e. Accounting & Finance. Great
infrastructure with all the basic amenities and modern facilities and friendly staff. One of the
feedback given in return to organization was about to improve the training program for new
employees. As of now the newly joined employees are directly burdened with work without
proper training. Make sure all the processes are fully automated so that human errors can be
reduced, as all the files take up a lot of space. Instead of keeping physical invoice they must try
to maintain a digital copy which would help in reducing the errors as well as can get rid of too
much files which are occupying a lot of space.

Summary of self learning

Internship has been the best practice to get a hands down experience of working in an
organization, it helped me to overcome my fears of interaction or even working in an
organization, in initial days it was a bit stressful but after sometime of gaining the experience it
has proved to be a great journey for learning and getting experience for the period of 2 months.

I also got an opportunity of building a professional interaction with the managers and other co-
employees which is the most important learning aspect of working in the corporate world.
The department was helpful when I had questions, but it was good for me to oversee every aspect
of my own internship and, in the end, has been advantageous. I believe this approach made the
experience mirror that of an actual job search. Open communication was one of the strongest and
most apparent skills that I learned during my internship. When I first started interning, I was
intimidated and nervous to ask too many questions because I didn’t want to admit that I didn’t
understand or that I needed extra help with something. Luckily I got over that fear quickly
because asking questions is the only way to learn what you are really supposed to be doing. I
found that my boss and fellow staff members appreciated it more if I asked too many questions
to make sure I really understood what it was doing and that I did it correctly. If I had not worked
with such cooperative and helpful people, I probably would have been too intimidated to ask
questions in my next job. Now that I know it is not bad to ask questions, I won’t have to struggle
with it in my future job. Without open communication between everyone in an office, I don’t see
how any work can be done.
 PART C

LEARNING AND TAKEAWAYS

Learned about the regulations related billing process of the company.

Gained an insight into the work environment and understanding the culture of the company.

Developed a skill set of gathering questions and asking appropriate personnel for assistance

Learned how to ask for assistance .When in doubt, the first and the most important thing to do is
ask rather than being a fool and doing the wrong thing.

As my work was purely observatory I had a chance to interact with lot of people from various
departments, it not only improved my communication skills but also helped to understand the
work process. Besides, working in a corporate has not only improved my understanding of
management concepts but also has boosted my self confidence about working in a corporate in
near future.

Application of concept tools and techniques learnt at PIMSR

PIMSR taught me some new techniques and tools which helped me in framing and
understanding organization and its market as whole such as: PESTEL analysis, SWOT analysis,
porter’s five forces analysis, porter’s generic strategies, McKenzie 7 s framework, value chain
analysis, BCG, Ansoff’s matrix.

PESTLE analysis is a strategic planning method to reduce business threats. By examining the
Political, Economical, Social, Technological, Legal, and Environmental factors, firms will gain
valuable advantages. These advantages help with the idea phase, product development, product
launching, content marketing strategies, and other factors, to increase success.

The advantages of PESTLE analysis involve being cost effective, providing a deeper
understanding of business, alertness to threats, and a method to exploit opportunities.
 A SWOT (strengths, weaknesses, opportunities and threats) analysis can help you identify and
understand key issues affecting your business, but it does not necessarily offer solutions. You
should be aware of the limitations as well as the benefits of a SWOT analysis before you decide
to conduct one. Knowing what you can reasonably expect to achieve will make the SWOT
analysis more useful for your business, and will save you time. Ultimately, you must be prepared
to spend the time to review your SWOT analysis and use it to determine the best way forward in
your business. The main advantages of conducting a SWOT analysis is that it has little or no cost
anyone who understands your business can perform a SWOT analysis. You can also use a
SWOT analysis when you don't have much time to address a complex situation. This means that
you can take steps towards improving your business without the expense of an external
consultant or business adviser.

Generic model, Porter's generic strategies describe how a company pursues competitive
advantage across its chosen market scope.

Porter’s Five Force model, Porter refers to these forces as the

Micro environment, to contrast it with the more general term macro environment.

Value chain analysis, Products pass through a chain of activities in order, and at each activity the
product gains some value. The chain of activities gives the products more added value than the
sum of added values of all activities.

All the tools techniques and skills acquired from PIMSR have really been helpful throughout the
internship because all those concepts have played a big role in adding value to the company as
well as it has helped me in understanding various aspects with different perspective.

New knowledge, tools, technique or skills

As a intern I realized it is the best way to see or get experience of working in the corporate, and
get the one of the best experience.
One of the most valuable skills I learned working in the Finance department is the
communication skill. I gained a confidence of interacting with my co employees or even with the
managers. I also got the opportunity of interacting directly with the boss on certain topic or a
company.

After the completion of my 2 months duration of internship I got better way or better approach of
how to behave or build up a interaction in the corporate world, it also helped me for gearing up
for my interview and get a confidence for working in the other organizations.

I got an opportunity of learning the new tool in the form of the TALLY software. As all the
work done is through Tally such as invoice booking, logistic cost booking, warehouse rent
annexure, staff reimbursement etc.

Augmentation of soft skills

Being part of the internship I could not only build good professional relationship with the

Staffs and management but also could build good personal relations with the staffs as well as

Other people who are the partners of the company in which I have worked in. Also the mentor

and managing director had been very supporting throughout the internship guiding me

Throughout the 60 days duration. They not only helped through professional front but also

helped me to understand the expectations of market place from a fresher. This has not only

helped me in building up my communication skill but also has helped me in learning the art

of time management, also it taught me how observant one must be in order to recognize or

identify the opportunities surrounding us. Being a management it’s not only important to have

technical knowledge about the subject matter also must develop leadership skill as well as

must be good working in a team.

Maintaining relationships

Maintaining relationship with team member gives benefits to the work routine. The professional
relationship with seniors will help to developed personality and they indirectly teach fresher how
to behave in organization and maintain professionalism.
Improvement in formal communication

It also helped a lot for developing mailing skills according to the requirement of the organization.
Drafting a suitable mail according to the different situation, replying to the clients, replying to
other co employees.

Increase in self-confidence

It also helped to develop a self motivation by encouraging its employees to set a target for them
self and achieve it full determination and with focus. It also motivates with the employees by
providing rewards. Employees and even interns are encouraged to take up a challenging task and
try to achieve it within the time, such factors develops motivation among the employees and
interns.

Direction for future learning

Gaining the work experience for the first time in the duration of this 2 months internship,
has helped me a lot to gain confidence and the communication skills which I would like to take
forward in near future for working in the new organization.