COMPANY PROFILEGlaxoSmithKline Consumer Healthcare Ltd. is one of the largest players in the Health Food Drinks industry in India. With a workforce of over 2700 people, a strong marketing and distribution network, and manufacturing plants in Sonepat, Nabha and Rajahmundry, it manufactures Horlicks, Boost, Viva and Biscuits, Foodless and promotes and distributes Eno, Cronin, Iodex and Sensodyne.

Historical Background

ABOUT THE NABHA PLANT

PRODUCT PROFILE New Horlicks Horlicks Pistachio Horlicks Export Horlicks Premix Horlicks Vanilla Premix Junior Horlicks Chocolate with DHA Horlicks with FAT Junior Horlicks New Junior Horlicks New Mother Horlicks New Elaichi Horlicks Boost Premix Junior Horlicks Biscuits Foodless

INVENTORY

INVENTORY MANAGEMENTSuccessful inventory management involves creating a purchasing plan that will ensure that items are available when they are needed (but that neither too much nor too little is purchased) and keeping track of existing inventory and its use. Two common inventory-management strategies are the just-in-time method, where companies plan to receive items as they are needed rather than maintaining high inventory levels, and materials requirement planning, which schedules material deliveries based on sales forecasts.

INVENTORY CONTROL TECHNIQUES

1. ABC Analysis

2. XYZ Analysis

3. VED Classification.

4. FNS Classification.

5. SOS Classification.

6. S-D-E Analysis

7. HML Analysis

RESEARCH METHODOLOGY Sampling unit: Gsk Staff Size of the sample: 50 people Sampling Technique Convenient sampling

OBJEVTIVES OF STUDYTo understand the process of inventory in Glaxo Smith Kline.

 To understand the various technique used in inventory control in Glaxo Smith Kline.

 To understand the process of arranging inventory such a way that in any case of need we can get the required product as fast as possible and particularly efficient. To understand which computerized management service is being used

 

Analysis And Interpretation of Data

70%

30%

Categories stored

Raw materialsFinished Goods

100

%

YesNo

60%20%

20%

Access to the System

Its divided among headsIts full .Can’t say

90%

6%4%

Management reports

yesNoCan't say

catgorisation of items

ABC Analysis( Normally used)XYZ Analysis(Rarely UsedVED analysis (most rarely used

Contents No. of Persons %1. In General store dep.

20% 40%

2.Warehouses 20% 40%3.Special silos 10% 20%

40%

40%

20%

Inventory Stored

In General store dep.WarehousesSpecial silos

6. Where is inventory stored?

InferenceFrom above chart we came to know that 40% of people say inventory is stored in General stores and 40% say in warehouses and 20% say in special silos.

70%

20%

10%

Security system overview

Hightech security camerasfingerprint entry systemsecurity guards

60%20

%

20%

Distribution of in-ventry items

Through trol-leys( Small material

Through Trucks( heavy duty engi-neering materi-als)

Through people (basic stationary)

90%

10%

%

store managerBasics operational head

90%

10%

Difference in Calculation of inventory

pvReport matching

FINDINGSFrom above data collection and interpretation we are able understand the process of inventory management being used in GSK, In Gsk ABC analysis is being primarily used, where goods are being categorized. After analysis we are also able to know how this system works and we are also able to know how goods are being categorized so that they can be easily available when required. Products are stored with proper barcodes and all system is computerized we just have to enter what we need then system will tell this item is placed at this particular area and in this way we can get our required need fulfilled in a fast and efficient way. We also came to know about how the computerized system is being operated and used. Basically Microsoft office Tools are being used such as Word excel etc

SUGESSTIONS

ConclusionFrom the thorough assessment of my study on “INVENTORY MANAGEMENT” I Concluded that Controlling techniques relating to the general inventory in GSK are developed with the objective of ensuring that the inventory will be controlled in an effective manner, without having any loss to the inventory.

 

The study of Recategorisation of the general store inventory of GSK is conducting for the purpose of knowing the actual status of the inventory in the stores. First Recategorisation was done in the year 1999 and after that it was conducted during the year 2005. From this study I conclude that any technique remains effective only when if it is carried on regularly means at proper time. This study reveals that through the ABC analysis, effective control can be exercised on the inventory. Items, which have more importance to the company, those come under strict control. But all the items should have been categorized specially those, which have consumption value during the year. No doubt their criteria of Recategorisation is appropriate but still some changes are required in it i.e. some movements of general stores items are required between three categories.

 

At last I would like to say that there is proper control of inventory in the organization. Inventory management is done at par. Proper accounts & records are maintained of each and every item, better techniques are applied. 5S technique is implemented fully in GSK