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Summer Internship Project Weekly Report: Vishal - Balwani@ofbusiness - in

Koushik K reported on the activities of his first week as an intern at Ofbusiness. He spent his first day understanding the company's process flow. On the second day, he presented his learnings to his reporting manager. For the remainder of the week, Koushik searched for target customers online and compiled their details into an Excel spreadsheet. The report also included a comparison of the procurement process without and with Ofbusiness, highlighting how Ofbusiness offers more flexible payment terms and lower interest rates for customers.

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Chintoo Kalyanadurgam
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146 views2 pages

Summer Internship Project Weekly Report: Vishal - Balwani@ofbusiness - in

Koushik K reported on the activities of his first week as an intern at Ofbusiness. He spent his first day understanding the company's process flow. On the second day, he presented his learnings to his reporting manager. For the remainder of the week, Koushik searched for target customers online and compiled their details into an Excel spreadsheet. The report also included a comparison of the procurement process without and with Ofbusiness, highlighting how Ofbusiness offers more flexible payment terms and lower interest rates for customers.

Uploaded by

Chintoo Kalyanadurgam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SUMMER INTERNSHIP PROJECT WEEKLY REPORT

Name of the Mentee: Koushik K

Register No: 2027910

Organization of SIP: Ofbusiness

Name of the Corporate Mentor: Vishal Balwani


Email ID / Phone Number [email protected]
Designation in the Organization: Intern

Reporting week Week 1: 3rd May to 7rd May 2021

Week 1: 3rd April to 7th April 2021

● DAY 1: Activities / Tasks – understanding the process flow of the company.

● DAY 2: Activities / Tasks – Briefing/Presenting about my learning to the reporting


Manager.

● DAY 3: Activities / Tasks: - Searching for target customer online (Google) and making a
excel list about the customers details

● DAY 4: Activities / Tasks: - Searching for target customer online and making a excel list.

● DAY 5: Activities / Tasks: - Searching for target customer online and making a excel list.
Learning for two weeks

Process flow without Ofbusiness (OFB) Process flow with Ofbusiness (OFB)
Customer gives
Customer Customer closes the
Floats RFQ the vendor
Supplier charges RFQ by negotiating on
Customer for Material invoice to OFB
2-3% per month (0-30 days) payment
Floats purchase to immediate
for extending terms.
RFQ for payment.
Material credit
purchase

Supplier will offer better OFB makes the


rates as they don’t like to payment to vendor
Customer closes offer longer credit on behalf of
the●RFQ based on customer.
●
payment terms &
bid price.
●
●
Customer gets
flexible payment
period of up to 120
Customer makes Cost of credit Maximum cost days
payment as per 24-36% Per of credit 15-18% Interest charged
agreed terms. annum per Annum. on the pro data
and only on the
amount utilized.

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