Kishor Thesis PDF

NIT Graduate School of Management
A
PROJECT REPORT
ON
“A Descriptive Study of OM Adopted By of Indian Oil
Corporation Limited With Special Reference To Nagpur
Region”
Submitted to
Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur
for the award of degree of Master of Business Administration
course specialization in
Operational Management
Prepared by:
Kishor Wasudeorao Khatik
Guide:
Dr. Nilesh Yemde
2022 – 2023

Survey No. 13/2, Mahurzari, Katol Road, Nagpur – 441 501
“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

With Special Reference To Nagpur Region”
1
CERTIFICATE
This is to certify that the project report titled “A Descriptive Study of

OM Adapted By Indian Oil Corporation Limited With Special
Reference To Nagpur Region” is a bonafide work of KISHOR
WASUDEORAO KHATIK who is student of MBA (Second Year),
NIT Graduate School of Management (Academic Session – 2022-23).
This report is being submitted in partial fulfillment of requirement for
the course of Post Graduate Degree of Masters of Business
Administration (MBA) of Rashtrasant Tukadoji Maharaj Nagpur
University, Nagpur.
Dr. Nilesh Yemde Dr. Mukesh Patil

Project Guide Director

2
APPROVAL OF PROJECT PROPOSAL
Name of Student : - Kishor Wasudeorao Khatik
Enrollment Roll No : -2021016600818886
College : - NIT Graduate School of Management, Nagpur
Address of Student : - Mohpa, Tah - Kalmeshwar Dist - Nagpur

Title of Project : -“A Descriptive Study of OM Adapted By Indian
Oil Corporation Limited With Special Reference
To Nagpur Region”
Subject Area : - Operational Management
Name of Guide : - Dr. Nilesh Yemde
Dr. Nilesh Yemde Dr. Mukesh Patil

Faculty & Guide Director

3
DECLARATION
I Kishor Wasudeorao Khatik hereby declare that the project report

titled, “A Descriptive Study of OM Adapted By Indian Oil
Corporation Limited With Special Reference To Nagpur Region”
which is being submitted by me in partial fulfillment of requirement for
the Degree of Master of Business Administration of Rashtrasant
Tukadoji Maharaj Nagpur University, is a bonafide record of work
exclusively carried out by me. It is the result of my genuine efforts and
the same has not been previously submitted towards requirements of any
course or examination of this or any other university.
The sources of material and information used in this research study has
been duly acknowledged and certified. I hereby further confirm that
this project truly represents the bonafide work undertaken by me and is
the outcome of thorough and systematic research.
Kishor W. Khatik

4
ACKNOWLEDGEMENT
I take this opportunity with a great pleasure to express our sincere

regards and deep sense of gratitude to our guide Dr. Nilesh Yemde,
Professor, NIT Graduate School of Management, Nagpur for his
valuable guidance, practical suggestions and encouragement to bring
about the completion of project. It is through his proficient knowledge,
valuable guidance and support that this project report has been set right. I
am also thankful to all faculty of M.B.A. Department of NITGSM,
Nagpur who have always co-operated while carrying out the project
work. I also express gratitude towards Director, NITGSM of M.B.A.,
Nagpur for their encouragement and timely suggestions. Finally, I would
like to thank our well-wishers, critics who helped directly or indirectly in
the completion of this work.
Thanking You……….
Mr. Kishor W. Khatik

5
NIT GRADUATE SCHOOL OF MANAGEMENT
TABLE OF CONTENTS
Chapter
No. Contents Page No.
1. Introduction 02-36
2. Literature Survey 37-38
3. Objective of study
39-40
41- 44
4. Research Methodology
5. Data Collection 45-47
6. Data Interpretation
48-54
7. Suggestions
55-56
8. Conclusions 57-58
9. Bibliography 59-60
A Descriptive Study of OM Adapted By Indian Oil Corporation Limited With Special Reference
To Nagpur Region”
1
CHAPTER 1
INTRODUCTION

Kishor Wasudeorao Khatik 2
INTRODUCTION OF OPERATION MANAGEMENT
Define - "Operations management is chiefly concerned with planning, organizing and

supervising in the contexts of production, manufacturing or the provision of services."
Operations management is an area of management concerned with overseeing, designing, and

controlling the process of production and redesigning business operations in the production of
goods or services. It involves the responsibility of ensuring that business operations are
efficient in terms of using as few resources as needed, and effective in terms of meeting
customer requirements. It is concerned with managing the process that converts inputs (in the
forms of raw materials, labor, and energy) into outputs (in the form of goods and/or services).
The relationship of operations management to senior management in commercial contexts can
be compared to the relationship of line officers to highest-level senior officers in military
science. The highest-level officers shape the strategy and revise it over time, while the line
officers make tactical decisions in support of carrying out the strategy. In business as in
military affairs, the boundaries between levels are not always distinct; tactical information
dynamically informs strategy, and individual people often move between roles over time.
Operations management programs typically include instruction in principles of general

management, manufacturing and production systems, factory management, equipment
maintenance management, production control, industrial labor relations and skilled trades
supervision, strategic manufacturing policy, systems analysis, productivity analysis and cost
control, and materials planning. Management, including operations management, is like
engineering in that it blends art with applied science. People skills, creativity, rational analysis,
and knowledge of technology are all required for success.

PHASE OF OPERATION MANAGEMENT
Phase 1: Planning Operations Systems
Phase 2: Planning Operations, Inventory and Quality Control
Phase 3: Managing Productivity

ROLE OF OPERATION MANAGEMENT
Operations is one of the three strategic functions of any organization. This means that it is a vital
part of accomplishing the organization’s strategy and ensuring its long-term survival. The other
two areas of strategic importance to the organization are marketing and finance. The operations
strategy should support the overall organization strategy. Many companies prepare a 5-year pro-
forma to assist in their operation planning. The pro forma uses information from past and current
financial statements in an effort to predict future events such as sales, and capital investments.

GOAL OF OPERATION MANAGEMENT
The goal of operations management is to maximize efficiency while producing goods and services
that effectively fulfill customer needs.Countless operating decisions must be made that have both
long- and short-term impacts on the organization’s ability to produce goods and services that
provide added value to customers. If the organization has made mostly good operating decisions
in designing and executing its transformation system to meet the needs of customers, its prospects
for long-term survival are greatly enhanced.
“A details study on operation management of Indian Oil Corporation Limited”

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited With Special Reference To
Nagpur Region”
6
MAIN COMPONENTS OF OPERATIONS MANAGEMENT
● Forecasting - Component that caters to historical data, facts, figures, and statistics within the
organization.
● Location strategies - Oversees product base, market base, and vertically differentiated locations.
● Maintenance - Locates methods to reduce frequency of failures within the production facility.
7
● Purchasing - Could be either centralized, decentralized, or combined.
● Scheduling - Pertains to scheduling of equipment or labor.
8
● Total Quality Management (TQM) - Enables the organization to work toward zero defects
within the organization.
● Quality - The overall ability to meet consumer expectations in terms of product quality.
9
● Just In Time - System that will match stock availability with demand; can also have stock arriving
exactly when needed.
● Materials Requirements Planning - Effectively manages inventory levels to ensure for cost
reduction.
10
● Process and System Performance - Measured through examination, capacity utilization, or

production.
● Layout of Facilities - Ensure for a smooth workflow.
11
● Inventory Management - Adequately controlling stock within an organization.
Advanced Planning and Scheduling Software (APS) is a key software that can benefit
manufacturing operations around the globe. It offers thorough insight within operations
management and can take your manufacturing operation to the next level in terms of efficiency
and optimization.
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THEORETICAL PERSPECTIVE
In this chapter of the project we can study the process of operation management and about the
Indian Oil Corporation:-
Operation Management:
Operation management is a transformation process. In operation management we are able to

understand the below mention points.
 Define ‘operations’ and ‘operations management’

 Identify the roles and responsibilities of operations managers in different organisational
contexts
 Identify the operations management aspects of your own work
 Apply the ‘transformation model’ to identify the inputs, transformation processes and
outputs of an organisation
 Identify the operational and administrative processes in your own organisation
 Describe the boundaries of an operations system, and recognise its interfaces with other
functional areas within the organisation and with its external environment.
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1. Define ‘operations’ and ‘operations management’
Consider the ingredients of your breakfast this morning. Unless you live on a farm and produced
them yourself, they passed through a number of different processing steps between the farmer
and your table and were handled by several different organisations. Similarly, your morning
newspaper was created and delivered to you through the interactions of a number of different
organisations.
Every day, you use a multitude of physical objects and a variety of services. Most of the physical
objects have been manufactured and most of the services have been provided by people in
organisations. Just as fish are said to be unaware of the water that surrounds them, most of us
give little thought to the organisational processes that produce these goods and services for our
use. The study of operations deals with how the goods and services that you buy and consume
every day are produced.
Consider the ingredients of your breakfast this morning. Unless you live on a farm and produced
them yourself, they passed through a number of different processing steps between the farmer
and your table and were handled by several different organisations. Similarly, your morning
newspaper was created and delivered to you through the interactions of a number of different
organisations. Every day, you use a multitude of physical objects and a variety of services. Most
of the physical objects have been manufactured and most of the services have been provided by
people in organisations. Just as fish are said to be unaware of the water that surrounds them,
most of us give little thought to the organisational processes that produce these goods and
services for our use. The study of operations deals with how the goods and services that you buy
and consume every day are produced.
2. Operations, operations management and operations managers
Every organisation has an operations function, whether or not it is called ‘operations’. The goal
or purpose of most organisations involves the production of goods and/or services. To do this,
they have to procure resources, convert them into outputs and distribute them to their intended
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users. The term operations embraces all the activities required to create and deliver an
organisation's goods or services to its customers or clients.
Within large and complex organisations operations is usually a major functional area, with
people specifically designated to take responsibility for managing all or part of the organisation's
operations processes. It is an important functional area because it plays a crucial role in
determining how well an organisation satisfies its customers. In the case of private-sector
companies, the mission of the operations function is usually expressed in terms of profits, growth
and competitiveness; in public and voluntary organisations, it is often expressed in terms of
providing value for money.
Operations management is concerned with the design, management, and improvement of the
systems that create the organisation's goods or services. The majority of most organisations’
financial and human resources are invested in the activities involved in making products or
delivering services. Operations management is therefore critical to organisational success.
Every organisation has an operations function, whether or not it is called ‘operations’. The goal
or purpose of most organisations involves the production of goods and/or services. To do this,
they have to procure resources, convert them into outputs and distribute them to their intended
users. The term operations embraces all the activities required to create and deliver an
organisation's goods or services to its customers or clients. Within large and complex
organisations operations is usually a major functional area, with people specifically designated to
take responsibility for managing all or part of the organisation's operations processes. It is an
important functional area because it plays a crucial role in determining how well an organisation
satisfies its customers. In the case of private-sector companies, the mission of the operations
function is usually expressed in terms of profits, growth and competitiveness; in public and
voluntary organisations, it is often expressed in terms of providing value for money. Operations
management is concerned with the design, management, and improvement of the systems that
create the organisation's goods or services. The majority of most organisations’ financial and
human resources are invested in the activities involved in making products or delivering services.
Operations management is therefore critical to organisational success.
Nagpur Region”
15
An understanding of the principles of operations management is important for all managers, because they
provide a systematic way of looking at an organisation's processes. The need to manage manufacturing
and service operations efficiently and effectively has led to a considerable increase in interest in
operations management in recent years. However, the concept of operations is not new.An understanding
of the principles of operations management is important for all managers, because they provide a
systematic way of looking at an organisation's processes. The need to manage manufacturing and service
operations efficiently and effectively has led to a considerable increase in interest in operations
management in recent years. However, the concept of operations is not new.
The historical development of operations management

Operations in some form has been around as long as human endeavour itself but, in manufacturing at
least, it has changed dramatically over time, and there are three major phases - craft manufacturing, mass
production and the modern period. Let's look at each of these briefly in turn.Operations in some form has
been around as long as human endeavour itself but, in manufacturing at least, it has changed dramatically
over time, and there are three major phases - craft manufacturing, mass production and the modern
period. Let's look at each of these briefly in turn.
Mass production
In many industries, craft manufacturing began to be replaced by mass production in the 19th
century. Mass production involves producing goods in high volume with low variety – the
opposite of craft manufacturing. Customers are expected to buy what is supplied, rather than
goods made to their own specifications. Producers concentrated on keeping costs, and hence
prices, down by minimising the variety of both components and products and setting up large
production runs. They developed aggressive advertising and employed sales forces to market
their products.
An important innovation in operations that made mass production possible was the system of
standardised and interchangeable parts known as the ‘American system of manufacture’
(Hounshell, 1984), which developed in the United States and spread to the United Kingdom and
other countries. Instead of being produced for a specific machine or piece of equipment, parts
were made to a standard design that could be used in different models. This greatly reduced the
Nagpur Region”
16
amount of work required in cutting, filing and fitting individual parts, and meant that people or
companies could specialise in particular parts of the production process.
A second innovation was the development by Frederick Taylor (1911) of the system of 'scientific
management’, which sought to redesign jobs using similar principles to those used in designing
machines. Taylor argued that the role of management was to analyse jobs in order to find the
‘one best way’ of performing any task or sequence of tasks, rather than allowing workers to
determine how to perform their jobs. By breaking down activities into tasks that were sequential,
logical and easy to understand, each worker would have narrowly defined and repetitious tasks to
perform, at high speed and therefore with low costs (Kanigel, 1999).
A third innovation was the development of the moving assembly line by Henry Ford. Instead of
workers bringing all the parts and tools to a fixed location where one car was put together at a
time, the assembly line brought the cars to the workers. Ford thus extended the ideas of scientific
management, with the assembly line controlling the pace of production. This completed the
development of a system through which large volumes of standardised products could be
assembled by unskilled workers at constantly decreasing costs – the apogee of mass production.
In many industries, craft manufacturing began to be replaced by mass production in the 19th
century. Mass production involves producing goods in high volume with low variety – the
opposite of craft manufacturing. Customers are expected to buy what is supplied, rather than
goods made to their own specifications. Producers concentrated on keeping costs, and hence
prices, down by minimising the variety of both components and products and setting up large
production runs. They developed aggressive advertising and employed sales forces to market
their products. An important innovation in operations that made mass production possible was
the system of standardised and interchangeable parts known as the ‘American system of
manufacture’ (Hounshell, 1984), which developed in the United States and spread to the United
Kingdom and other countries. Instead of being produced for a specific machine or piece of
equipment, parts were made to a standard design that could be used in different models. This
greatly reduced the amount of work required in cutting, filing and fitting individual parts, and
meant that people or companies could specialise in particular parts of the production process. A
second innovation was the development by Frederick Taylor (1911) of the system of 'scientific
Nagpur Region”
17
management’, which sought to redesign jobs using similar principles to those used in designing
machines. Taylor argued that the role of management was to analyse jobs in order to find the
‘one best way’ of performing any task or sequence of tasks, rather than allowing workers to
determine how to perform their jobs. By breaking down activities into tasks that were sequential,
logical and easy to understand, each worker would have narrowly defined and repetitious tasks to
perform, at high speed and therefore with low costs (Kanigel, 1999). A third innovation was the
development of the moving assembly line by Henry Ford. Instead of workers bringing all the
parts and tools to a fixed location where one car was put together at a time, the assembly line
brought the cars to the workers. Ford thus extended the ideas of scientific management, with the
assembly line controlling the pace of production. This completed the development of a system
through which large volumes of standardised products could be assembled by unskilled workers
at constantly decreasing costs – the apogee of mass production.
The modern period
Mass production worked well as long as high volumes of mass-produced goods could be
produced and sold in predictable and slowly changing markets. However, during the 1970s,
markets became highly fragmented; product life cycles reduced dramatically and consumers had
far greater choice than ever before.
An unforeseen challenge to Western manufacturers emerged from Japan. New Japanese

production techniques, such as total quality management (TQM), just-in-time (JIT) and
employee involvement were emulated elsewhere in the developed world, with mixed results.
More recently, the mass production paradigm has been replaced, but there is as yet no single
approach to managing operations that has become similarly dominant. The different approaches
for managing operations that are currently popular include:
 Flexible specialisation (Piore and Sabel, 1984) in which firms (especially small firms)
focus on separate parts of the value-adding process and collaborate within networks to
produce whole products. Such an approach requires highly developed networks, effective
Nagpur Region”
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processes for collaboration and the development of long-term relationships between

firms.
 Lean production (Womack et al., 1990) which developed from the highly successful
Toyota Production System. It focuses on the elimination of all forms of waste from a
production system. A focus on driving inventory levels down also exposes inefficiencies,
reduces costs and cuts lead times.
 Mass customisation (Pine et al., 1993) which seeks to combine high volume, as in mass
production, with adapting products to meet the requirements of individual customers.
Mass customisation is becoming increasingly feasible with the advent of new technology
and automated processes.
 Agile manufacturing (Kidd, 1994) which emphasises the need for an organisation to be
able to switch frequently from one market-driven objective to another. Again, agile
manufacturing has only become feasible on a large scale with the advent of enabling
technology.
In various ways, these approaches all seek to combine the high volume and low cost associated
with mass production with the product customisation, high levels of innovation and high levels
of quality associated with craft production.
The modern period Mass production worked well as long as high volumes of mass-produced goods could
be produced and sold in predictable and slowly changing markets. However, during the 1970s, markets
became highly fragmented, product life cycles reduced dramatically and consumers had far greater choice
than ever before. An unforeseen challenge to Western manufacturers emerged from Japan. New Japanese
production techniques, such as total quality management (TQM), just-in-time (JIT) and employee
involvement were emulated elsewhere in the developed world, with mixed results. More recently, the
mass production paradigm has been replaced, but there is as yet no single approach to managing
operations that has become similarly dominant. The different approaches for managing operations that are
currently popular include: Flexible specialisation (Piore and Sabel, 1984) in which firms (especially small
firms) focus on separate parts of the value-adding process and collaborate within networks to produce
whole products. Such an approach requires highly developed networks, effective processes for
collaboration and the development of long-term relationships between firms. Lean production (Womack
et al., 1990) which developed from the highly successful Toyota Production System. It focuses on the
elimination of all forms of waste from a production system. A focus on driving inventory levels down
Nagpur Region”
19
also exposes inefficiencies, reduces costs and cuts lead times. Mass customisation (Pine et al., 1993)
which seeks to combine high volume, as in mass production, with adapting products to meet the
requirements of individual customers. Mass customisation is becoming increasingly feasible with the
advent of new technology and automated processes. Agile manufacturing (Kidd, 1994) which emphasises
the need for an organisation to be able to switch frequently from one market-driven objective to another.
Again, agile manufacturing has only become feasible on a large scale with the advent of enabling
technology. In various ways, these approaches all seek to combine the high volume and low cost
associated with mass production with the product customisation, high levels of innovation and high levels
of quality associated with craft production.
The role of the operations manager
Some people (especially those professionally involved in operations management!) argue that
operations management involves everything an organisation does. In this sense, every manager is
an operations manager, since all managers are responsible for contributing to the activities
required to create and deliver an organisation's goods or services. However, others argue that this
definition is too wide, and that the operations function is about producing the right amount of a
good or service, at the right time, of the right quality and at the right cost to meet customer
requirements.
The role of the operations manager Some people (especially those professionally involved in operations
management!) argue that operations management involves everything an organisation does. In this sense,
every manager is an operations manager, since all managers are responsible for contributing to the
activities required to create and deliver an organisation's goods or services. However, others argue that
this definition is too wide, and that the operations function is about producing the right amount of a good
or service, at the right time, of the right quality and at the right cost to meet customer requirements.
So operations managers are responsible for managing activities that are part of the production of
goods and services. Their direct responsibilities include managing both the operations process,
embracing design, planning, control, performance improvement, and operations strategy. Their
indirect responsibilities include interacting with those managers in other functional areas within
the organisation whose roles have an impact on operations. Such areas include marketing,
finance, accounting, personnel and engineering.
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Operations managers' responsibilities include:
 Human resource management – the people employed by an organisation either work

directly to create a good or service or provide support to those who do. People and the
way they are managed are a key resource of all organisations.
 Asset management – an organisation's buildings, facilities, equipment and stock are
directly involved in or support the operations function.
 Cost management – most of the costs of producing goods or services are directly related
to the costs of acquiring resources, transforming them or delivering them to customers.
For many organisations in the private sector, driving down costs through efficient
operations management gives them a critical competitive edge. For organisations in the
not-for-profit sector, the ability to manage costs is no less important.
Decision making is a central role of all operations managers. Decisions need to be

made in:
 Designing the operations system

 Managing the operations system
 Improving the operations system.
The five main kinds of decision in each of these relate to:
1. The processes by which goods and services are produced

2. The quality of goods or services
3. The quantity of goods or services (the capacity of operations)
4. The stock of materials (inventory) needed to produce goods or services
5. The management of human resources.
So operations managers are responsible for managing activities that are part of the production of
goods and services. Their direct responsibilities include managing both the operations process,
embracing design, planning, control, performance improvement, and operations strategy. Their
indirect responsibilities include interacting with those managers in other functional areas within
the organisation whose roles have an impact on operations. Such areas include marketing,
finance, accounting, personnel and engineering. Operations managers' responsibilities include:
Nagpur Region”
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Human resource management – the people employed by an organisation either work directly to
create a good or service or provide support to those who do. People and the way they are
managed are a key resource of all organisations. Asset management – an organisation's
buildings, facilities, equipment and stock are directly involved in or support the operations
function. Cost management – most of the costs of producing goods or services are directly
related to the costs of acquiring resources, transforming them or delivering them to customers.
For many organisations in the private sector, driving down costs through efficient operations
management gives them a critical competitive edge. For organisations in the not-for-profit sector,
the ability to manage costs is no less important. Decision making is a central role of all
operations managers. Decisions need to be made in: designing the operations system managing
the operations system improving the operations system. The five main kinds of decision in each
of these relate to: the processes by which goods and services are produced the quality of goods or
services the quantity of goods or services (the capacity of operations) the stock of materials
(inventory) needed to produce goods or services the management of human resources.
3 The transformation model
The discussion above has highlighted the role of operations in creating and delivering the goods
and services produced by an organisation for its customers. This section introduces the
transformation model for analysing operations. This is shown in Figure 1, which represents the
three components of operations: inputs, transformation processes and outputs. Operations
management involves the systematic direction and control of the processes that transform
resources (inputs) into finished goods or services for customers or clients (outputs). This basic
transformation model applies equally in manufacturing and service organisations and in both the
private and not-for-profit sectors.
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Inputs
Some inputs are used up in the process of creating goods or services; others play a part in the
creation process but are not used up. To distinguish between these, input resources are usually
classified as:
 Transformed Resources – those that are transformed in some way by the operation to
produce the goods or services that are its outputs
 Transforming Resources – those that are used to perform the transformation process.
Inputs include different types of both transformed and transforming resources.
Three types of resource that may be transformed in operations are:
 Materials – the physical inputs to the process

 Information that is being processed or used in the process
 Customers – the people who are transformed in some way.
Many people think of operations as being mainly about the transformation of materials or
components into finished products, as when limestone and sand are transformed into glass or an
automobile is assembled from its various parts. But all organisations that produce goods or
services transform resources: many are concerned mainly with the transformation of information
(for example, consultancy firms or accountants) or the transformation of customers (for example,
hairdressing or hospitals).
Galloway (1998) defines operations as all the activities concerned with the transformation of
materials, information or customers.
The two types of transforming resource are:
 Staff – the people involved directly in the transformation process or supporting it

 Facilities – land, buildings, machines and equipment.
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The staff involved in the transformation process may include both people who are directly
employed by the organisation and those contracted to supply services to it. They are sometimes
described as ‘labour’. The facilities of an organisation – including buildings, machinery and
equipment – are sometimes referred to as ‘capital’. Operations vary greatly in the mix of labour
and capital that make up their inputs. Highly automated operations depend largely on capital;
others rely mainly on labour.
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Some inputs are used up in the process of creating goods or services; others play a part in the
creation process but are not used up. To distinguish between these, input resources are usually
classified as: transformed resources – those that are transformed in some way by the operation to
produce the goods or services that are its outputs transforming resources – those that are used to
perform the transformation process. Inputs include different types of both transformed and
transforming resources. Three types of resource that may be transformed in operations are:
materials – the physical inputs to the process information that is being processed or used in the
process customers – the people who are transformed in some way. Many people think of
operations as being mainly about the transformation of materials or components into finished
products, as when limestone and sand are transformed into glass or an automobile is assembled
from its various parts. But all organisations that produce goods or services transform resources:
many are concerned mainly with the transformation of information (for example, consultancy
firms or accountants) or the transformation of customers (for example, hairdressing or hospitals).
Galloway (1998) defines operations as all the activities concerned with the transformation of
materials, information or customers. The two types of transforming resource are: staff – the
people involved directly in the transformation process or supporting it facilities – land, buildings,
machines and equipment. The staff involved in the transformation process may include both
people who are directly employed by the organisation and those contracted to supply services to
it. They are sometimes described as ‘labour’. The facilities of an organisation – including
buildings, machinery and equipment – are sometimes referred to as ‘capital’. Operations vary
greatly in the mix of labour and capital that make up their inputs. Highly automated operations
depend largely on capital; others rely mainly on labour.
Outputs
The principal outputs of a doctor's surgery are cured patients; the outputs of a nuclear
reprocessing plant include reprocessed fuel and nuclear waste. Many transformation processes
produce both goods and services. For example, a restaurant provides a service, but also produces
goods such as food and drinks.
Transformation processes may result in some undesirable outputs (such as nuclear waste in the
example above) as well as the goods and services they are designed to deliver. An important
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aspect of operations management in some organisations is minimising the environmental impact

of waste over the entire life cycle of their products, up to the point of final disposal. Protecting
the health and safety of employees and of the local community is thus also the responsibility of
operations management. In addition, the operations function may be responsible for ethical
behaviour in relation to the social impact of transformation processes, both locally and globally.
For example, in the United States, manufacturers of sports footwear have come under fire for
employing child labour and paying low wages to workers employed in their overseas factories.
Outputs The principal outputs of a doctor's surgery are cured patients; the outputs of a nuclear
reprocessing plant include reprocessed fuel and nuclear waste. Many transformation processes
produce both goods and services. For example, a restaurant provides a service, but also produces
goods such as food and drinks. Transformation processes may result in some undesirable outputs
(such as nuclear waste in the example above) as well as the goods and services they are designed
to deliver. An important aspect of operations management in some organisations is minimising
the environmental impact of waste over the entire life cycle of their products, up to the point of
final disposal. Protecting the health and safety of employees and of the local community is thus
also the responsibility of operations management. In addition, the operations function may be
responsible for ethical behaviour in relation to the social impact of transformation processes,
both locally and globally. For example, in the United States, manufacturers of sports footwear
have come under fire for employing child labour and paying low wages to workers employed in
their overseas factories.
Transformation processes
A transformation process is any activity or group of activities that takes one or more inputs,
transforms and adds value to them, and provides outputs for customers or clients. Where the
inputs are raw materials, it is relatively easy to identify the transformation involved, as when
milk is transformed into cheese and butter. Where the inputs are information or people, the
nature of the transformation may be less obvious. For example, a hospital transforms ill patients
(the input) into healthy patients (the output).
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Transformation processes include:
 Changes in the physical characteristics of materials or customers

 Changes in the location of materials, information or customers
 Changes in the ownership of materials or information
 Storage or accommodation of materials, information or customers
 Changes in the purpose or form of information
 Changes in the physiological or psychological state of customers.
Often all three types of input – materials, information and customers – are transformed by the
same organisation. For example, withdrawing money from a bank account involves information
about the customer's account, materials such as cheques and currency, and the customer. Treating
a patient in hospital involves not only the ‘customer's’ state of health, but also any materials used
in treatment and information about the patient.
One useful way of categorising different types of transformation is into:
 Manufacture – the physical creation of products (for example cars)

 Transport – the movement of materials or customers (for example a taxi service)
 Supply – change in ownership of goods (for example in retailing)
 Service – the treatment of customers or the storage of materials (for example hospital
wards, warehouses).
Several different transformations are usually required to produce a good or service. The overall
transformation can be described as the macro operation, and the more detailed transformations
within this macro operation as micro operations. For example, the macro operation in a brewery
is making beer (Figure 2). The micro operations include:
 Milling the malted barley into grist

 Mixing the grist with hot water to form wort
 Cooling the wort and transferring it to the fermentation vessel
 Adding yeast to the wort and fermenting the liquid into beer
 Filtering the beer to remove the spent yeast
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 Decanting the beer into casks or bottles.
Feedback
A further component of the transformation model in Figure 1 is the feedback loop. Feedback
information is used to control the operations system, by adjusting the inputs and transformation
processes that are used to achieve desired outputs. For example, a chef relies on a flow of
information from the customer, through the waiter, about the quality of the food. Adverse
feedback might lead the chef to change the inputs (for example by buying better quality potatoes)
or the transformation process (for example by changing the recipe or the cooking method).
Feedback is essential for operations managers. It can come from both internal and external
sources. Internal sources include testing, evaluation and continuously improving goods and
services; external sources include those who supply products or services to end-customers as
well as feedback from customers themselves.
A further component of the transformation model in Figure 1 is the feedback loop. Feedback
information is used to control the operations system, by adjusting the inputs and transformation
processes that are used to achieve desired outputs. For example, a chef relies on a flow of
information from the customer, through the waiter, about the quality of the food. Adverse
feedback might lead the chef to change the inputs (for example by buying better quality potatoes)
or the transformation process (for example by changing the recipe or the cooking method).
Feedback is essential for operations managers. It can come from both internal and external
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sources. Internal sources include testing, evaluation and continuously improving goods and
services; external sources include those who supply products or services to end-customers as well
as feedback from customers themselves.
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COMPANY PROFILE:-
Indian Oil Corporation (Indian Oil) is India's largest commercial enterprise, with a sales turnover
of Rs. 4,50,756 crore (US$ 73.7 billion) and profits of Rs. 5,273 crore for the year 2014-15. It is
also the leading Indian corporate in Fortune's prestigious 'Global 500' listing of the world's largest
corporate, ranked at the 75th position for the year 2020.
As India's flagship national oil company, with a 33,000-strong work-force currently, Indian Oil
has been meeting India’s energy demands for over half a century. With a corporate vision to be
'The Energy of India' and to become 'A globally admired company,' Indian Oil's business interests
straddle the entire hydrocarbon value-chain – from refining, pipeline transportation and marketing
of petroleum products to exploration & production of crude oil & gas, marketing of natural gas
and petrochemicals, besides forays into alternative energy and globalization of downstream
operations.
Indian Oil began operations in 1958 as Indian Oil Company Ltd. The Indian Oil Corporation was
formed in 1964, with the merger of Indian Refineries Ltd. Recently Indian Oil Corp (IOC) has
raised $500 million by selling 10-year dollar-denominated bonds, its fourth such issue overseas in
.
the last three and a half years In 2018, its Nagpur Refinery was awarded the "Best of all" Rajiv
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Gandhi National Quality Award.
Shrikant Madhav Vaidya was appointed as the Chairman of Indian Oil Corporation (IOCL), the
country’slargest commercial enterprise and t h e biggest state-run fuel retailer.
The Appointments Committee of Cabinet approved his appointment to the post of Chairman and
Managing Director (CMD) for a period of five years, an order issued by the Ministry of Personnel
& Training said. He will be assuming the charge on or after June 1.
Singh is currently Director (Refiners) at IOC. Prior to this, he worked as Executive Director (In-
Charge) at the Paradip Refinery Project in Odisha. He had earlier held the post of Executive
Director (In-Charge) at the Panipat Refinery where he was responsible for setting up Naphtha
Cracker and other downstream polymer units.
A graduate in Chemical Engineering from Indian Institute of Technology (IIT) at Roorkee,

Singh also holds a Diploma in Management. He had joined IOC in 1981 and has worked in
various positions at Mathura, Barauni and Panipat Refineries. 56 year-old Singh has also
worked on Deputation for Nigeria's National Petroleum Company. He is also known for
leading an expert team from the Indian Oil to KNPC (Al-Ahmadi Refinery) in Kuwait to assist
in reducing their turnaround time in the Fluid Catalytic Cracker (FCC) unit. The first-of-its-
kind assignment is understood to have brought praise for Indian Oil.
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Petroleum
Type Public Sector Undertaking Products
Natural gas
Petrochemicals
Traded as BSE: 530965 Revenue ₹605,924 crore (US$85 billion)

NSE: IOC (2019)
NSE NIFTY 50 Constituent
ISIN INE242A01010 Operating ₹36,952 crore (US$5.2 billion)

income (2019)
Industry Oil and Gas Net income ₹16,894 crore (US$2.4 billion)
(2019)
Predecessor Indian Refineries Ltd. Total assets ₹335,155 crore (US$47 billion)
(1958) (2019)
Indian Oil Company (1959)
Founded 30 June 1959; 61 years ago Total equity ₹1,555 crore (US$220 million)
(2019)
Headquarters New Delhi (headquarters) Owner Government of India (52.1%)

Mumbai (registered office)
Area served India, Sri Lanka, Middle Number of 33,498 (2019)

East, Mauritius employees
Key people Sanjay Singh (Chairman) Subsidiaries IndianOil (Mauritius) Ltd.

CPCL
Lanka IOC PLC
IOC Middle East FZE
Indane (LPG)
Website www.iocl.com
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OPERATIONS
World's highest retail outlet, Kaza, Himachal Pradesh
IOCL Petrol Pump under construction in Khammam
An Indian Oil fuel truck on way to Ladakh
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A typical IOCL petrol pump in cities of India - Chembur, Mumbai
An IOCL refinery in Bihar at night
An Indian Oil tanker in front of terminal 1C of Chhatrapati Shivaji Maharaj International Airport
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BUSINESS DIVISIONS
There are seven major Business Divisions in the organisation:
● Refineries Division
● Pipelines Division
● Marketing Division
● R&D Division
● Petrochemicals Division
● Exploration & Production (E&P) Division
● Explosives and Cryogenics Division
REFINERY LOCATIONS
● Barauni Refinery
● Bongaigaon Refinery
● CPCL, Chennai
● CPCL, Narimanam
● Digboi Refinery
● Guwahati Refinery
● Haldia Refinery
● Koyali Refinery
● Mathura Refinery
● Panipat Refinery
● Paradip Refinery
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PIPELINES
● Salaya - Mathura crude oil pipeline

● Mundra - Panipat crude oil pipeline
● Paradip-Haldia-Barauni crude oil pipeline
● Koyali - Mohanpura product pipeline
● Koyali - Ahmedabad product pipeline
● Guwahati - Siliguri product pipeline
● Barauni - Kanpur product pipeline
● Haldia - Mourigram - Rajbandh product pipeline
● Haldia - Barauni product pipeline
● Panipat - Jalandhar LPG pipeline
● Dadri - Panipat R-LNG pipeline
● Koyali - Ratlam product pipeline
● Koyali - Dahej/ Hazira product pipeline
● Panipat - Bhatinda product pipeline
● Panipat - Rewari product pipeline
● Panipat - Ambala - Jalandhar product pipeline
● Mathura - Delhi product pipeline
● Mathura - Bharatpur product pipeline
● Mathura - Tundla product pipeline
● Chennai - Trichy - Madurai product pipeline
● Chennai - Bangalore product pipeline
● Chennai ATF pipeline
● Bangalore ATF pipeline
● Kolkata ATF pipeline
● Paradip - Raipur - Ranchi product pipeline
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CHAPTER 2
SURVEY OF
LITERATURE
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SURVEY OF LITERATURE
The review of literature guides the researchers for getting better understanding of methodology
used, limitation of various available estimation procedures and database, and lucid interpretation
and reconciliation of the conflicting results. Besides this, the review of empirical studies explores
the avenues for future and present research efforts related to the subject matter. In case of
conflicting and unexpected results, the research can take the advantage of knowledge of their
researchers simply through the medium of their published works. A number of research studies
have been carried out on different aspects of performance appraisal by the researchers, economists
and academicians in India and abroad. Different authors have analyzed performance in different
perspectives. A review of these analyses is important in order to develop an approach that can be
employed in the context of the study of Indian automobile industry. Therefore, the present chapter
reviews the empirical studies related with different aspects of Financial Efficiency.
It has long been argued that efficient working capital management should contribute to the creation
of shareholder value. This study investigates the relationship between working capital
management and firm profitability for a sample containing both listed and delisted South African
industrial firms. The results obtained from the full sample revealed statistically significant negative
relationships between a firm’s profitability (as quantified by the return on assets in the narrower
sense) and its net trade cycle (NTC), debt ratio and liquidity ratio. Similar results are onserved if
the listed firms are investigated separately. In the case of firms that delisted during the period under
review, however, the liquidity and debt ratios appear to play a more important role than the NTC.
Based on the results of this study, it would appear that management could attempt to improve firm
profitability by decreasing the overall investment in net working capital. Survey of the existing
literature indicates that so far no specific study has been carried on to examine the profitability
analysis of Indian Oil industry after liberalization in the manufacturing sector. The present study
is an attempt in this direction and therefore, aims to enrich the literature of financial performance
relation to Indian Oil industry.
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CHAPTER 3
OBJECTIVE
OF STUDY
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OBJECTIVES OF THE STUDY
The main objective of this study is to understand the project of operation

management in Indian Oil Corporation.
To know about the financials as well as other operational process.
To understand the setup of petrol pump and other channels in the multiple locations.
To understand the manufacturing and distribution project of Indian oil corporation.
To understand the pricing method of Indian Oil corporation.
To understand the marketing process of Indian oil corporation.
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CHAPTER 4
RESEARCH
METHODOLOGY
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Research Methodology
A research process consists of stages or steps that guide the project from its conception through
the final analysis, recommendation and ultimate actions. The research process provides a
systematic, planned approach to the research project and ensures that all research project and
ensures that all aspects of the research project are consistent with each other.
Research studies evolve through a series of steps, each representing the answer to a key question.
INTRODUCTION
This chapter aims to understand the research methodology establishing a framework of evaluation
and revaluation of primary and secondary research. The techniques and concepts used during
primary research in order to arrive at findings; which are also dealt with and lead to a logical
deduction towards the analysis and results.
RESEARCH DESIGN
I propose to first conduct an intensive secondary research to understand the full impact and
implication of the industry, to review and critique the industry norms and reports, on which certain
issues shall be selected, which I feel remain unanswered or liable to change, this shall be further
taken up in the next stage of exploratory research. This stage shall help me to restrict and select
only the important question and issue, which inhabit growth and segmentation in the industry.
The various tasks that I have undertaken in the research design process are:
● Defining the information need

● Design the exploratory, descriptive and causal research.
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Research Process
The research process has four distinct yet interrelated steps for research analysis
It has a logical and hierarchical ordering:
● Determination of information research problem.

● Development of appropriate research design.
● Execution of research design.
● Communication of results.
Each step is viewed as a separate process that includes a combination of task, step and specific
procedure. The steps undertake are logical, objective systematic, reliable, valid, impersonal and
ongoing.
Exploration Research
The method I used for exploratory research was
● Primary Data
● Secondary Data
PRIMARY DATA
New data gathered to help solve the problem at hand. As compared to secondary data which is
previously gathered data. An example is information gathered by a questionnaire. Qualitative or
quantitative data that are newly collected in the course of research. Consists of original information
that comes from people and includes information gathered from surveys, focus groups,
independent observations and let results.Data gathered by the researcher in the act of conducting
research. This is contrasted to secondary data, which entails the use of data gathered by someone
other than the researcher information that is obtained directly from first-hand sources by means of
surveys, observations or experimentation. Primary data is basically collected by getting
questionnaire filled by the respondents.
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SECONDARY DATA
Information that already exists somewhere, having collected for another purpose. Sources include
census reports, trade publications and subscription services. There are two types of secondary data:
internal and external secondary data. Information compiled inside or outside the organization for
some purpose other than the current investigation Researching information, which has already
been published? Market information compiled for purposes other than the current research effort;
it can be internal data, such as existing sales- tracking information, or it can be research conducted
by someone else, such as a market research company or the U.S government.
Secondary source of data used consists of books and websites
My proposal is to first conduct a intensive secondary research to understand the full impact and
implication of the industry, to review and critique the industry norms and reports, on which certain
issues shall be selected, which I feel remain unanswered or liable to change, this shall be further
taken up in the next stage of exploratory research.
DESCRIPTIVE RESEARCH
STEPS in the descriptive research:
Statement of the problem
● Identification of information needed to solve the problem

● Selection or development of instruments for gathering the information
● Identification of target population and determination of sampling plan.
● Design of procedure for information collection
● Collection of information
● Analysis of information
● Generalizations and/or predictions
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CHAPTER 5
DATA
COLLECTION
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Data Collection
Data collection took place with the help of questionnaires. The questionnaire method has come to
the more widely used and economical means of data collection. The common factor in all varieties
of the questionnaire method is this reliance on verbal responses to questions, written or oral. I
found it essential to make sure the questionnaire was easy to read and understand to all spectrums
of people in the sample. It was also important as researcher to respect the samples time and energy
hence the questionnaire was designed in such a way, that its administration would not exceed 4-5
mins. These questionnaires were personally administered.
The first-hand information was collected by making the people fill the questionnaires. The primary
data collected by directly interacting with the people. The respondents were contacted at shopping
malls, markets, places that were near to showroom of the consumer durable products etc. The data
was collected by interacting with 200 respondents who filled the questionnaires and gave me the
required necessary information. The respondents consisted of housewives, students, businessmen,
professionals etc. the required information was collected by directly interacting with these
respondents.
DETERMINATION THE SAMPLE PLAN AND SAMPLE SIZE
TARGET POPULATION
It is a description of the characteristics of that group of people from whom a course is intended. It
attempts to describe them as they are rather than as they are rather than as the describer would like
them to be. Also called the audience to be served by our project includes key demographic
information (i.e.; age, sex etc.). The specific population intended as beneficiaries of a program.
This will be either all or a subset of potential users, such as adolescents, women, rural residents,
or the residents of a particular geographic area. Topic areas: Governance, Accountability and
Evaluation, Operations Management and leadership. A specific resource set that is the object or
target of investigation. The audience defined in age, background, ability, and preferences, among
other things, for which a given course of instruction is intended.
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Sample Size
This involves figuring out how many samples one need.
The numbers of samples you need are affected by the following factors:
Project goals
How you plan to analyze your data
How variable your data are or are likely to be
How precisely you want to measure change or trend
The number of years over which you want to detect a trend
How many times a year you will sample each point
How much money and manpower you have
Sample size
I have targeted 150 people in the age group above 21 years for the purpose of the research. The
target population influences the sample size. The target population represents the Delhi regions.
The people were different professional backgrounds.The details of our sample are explained in
chapter named primary research where the divisions are explained in demographic section.
Research design
Research design is a conceptual structure within which research was conducted. A research design
is the detailed blueprint used to guide a research study towards its objective. It is a series of
advanced decision taken together comprising a master plan or a model for conducting the research
in consonance with the research objectives. Research design is needed because it facilitates the
smooth sailing of the various research operations, thereby making research as efficient as possible
yielding maximum information with the minimum effort, time & money.
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CHAPTER 6
DATA
INTERPRETATION
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DATA ANALYSIS AND INTERPRETATION
Data Analysis and interpretation of 50 employees of Indian Oil Corporation.
1. How long you are working in the organization?
YEARS WORKING IN THE PERCENTAGE

ORGANIZATION
0-2 YEARS 3 6%
2-5 YEARS 8 16%

5-10 YEARS 15 30%
MORE THAN 10 24 48%

YEARS
TOTAL 50 100%
working in the organisation
6%
16%
0-2 years
48% 2-5 yrs
5-10 yrs
>10 years
30%
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Finding
From the chart that 24 employees are working for more than 10 years. Even no. of employees
working between 5-10 years are 15. This shows that the operation management process in Indian
Oil Corporation is very smooth and most of the employees are regular follows the organisation
rules and regulations. This indicates that employee are satisfied and their respondent were
interviewed and it was found that employee to know while they are continuing in their company
for more than 10 year and followed that they are overall satisfied.
2. Are you comfortable with the Operation management Process in Indian
Oil Corporation?
WORK ON NUMBER OF PERCENTAGE

ENVIRONMENT RESPONDENT
GOOD 25 50%
SATISFIED 20 40%
BAD 5 10%
TOTAL 100 100%
number of respondent
60
50
40
30
number of respondent
25
20 20
10
good satisfied bad
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Finding
50% of employee express as a good environment remain and as per employees the process of
operation management is very smooth. From the remaining 50% about 40% says a satisfactory
job environment only about 10% feels bad working environment is there. There are not satisfied
with the way they are given the work. They feel there is the bias is there.
3. What are processes of implementation of new Operation Management

Process?
OPTION SOURCE PERCENTAGE
TOP MANAGEMENT 13 26%

DECISION
BRANCH MANAGER 8 16%
LEVEL
BOTH 29 58%
TOTAL 100 100%
source
26%
Top Management Decision
Branch Manager Level
58% both
16%
Finding
About 58% of implementations of new operation management process is done with the mutual
understanding in between management of the company and branch head. 26% implementation is
done on the direction of top management and 16% of implementation is done on the direction of
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branch manager.
Data Analysis and interpretation of 50 Customers of Indian Oil Corporation.
(1) Gender:
Customers Gender
44% Male
56% Female
Out of 50 valuable customers of Indian Oil Corporations 28 customers are male and 22
customers are female. They are regularly using the Indian oil Products in his/her regular life and
they are very satisfied with the product price and services of Indian Oil Corporations.
(2) Age:
Customers Age
20%
20-30
50% 31-40
41-50
30%
Out of 50 Valuable customers 50% of customer belongs to 41-50 age slab, 30% customers
belongs to 31-40 age slab and 20% of customers belongs to 20-30 age slab.
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(3) Occupation:
Customers Occupation
20%
Govt Employees
50% Pvt Employee
Self Employed
30%
Out of 50 Valuable customers 50% of customer belongs to Self employed category, 30%
customers belong to Pvt Employed and 20% of customers belong to Govt Departments.
(4) Monthly (Family) Income:
Monthly (Family) Income
20%
10000 and above
50% 15000 and above
20 and above
30%
Out of 50 Valuable customers 50% of customer belongs average family monthly income around
20 thousand and above, 30% customers belong to average family monthly income around 15
thousand and above and 20% of customers average family monthly income around 10 thousand
and above.
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(5) Are you from the urban area or rural area?
Urban area or rural area
40% Urban Area

Rural Area
60%
Out of 50 Valuable customers 60% of customer belongs urban area and 40% customers belong to
rural Area.
(8) Are you aware of the promotions activities launch by the Indian Oil and
Indian Govt Subsidies Schemes?
Promotions and Govt Schemes
16%
Aware about the schemes

Not Aware
84%
Out of 50 Valuable customers 84% of customer are aware about the promotions schemes of Indian
Oil Corporations and Indian Govt Subsidies Schemes. But 16% of customer are not ware about
that.
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CHAPTER 7
SUGGESTIONS
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SUGGESTIONS
1. Recruitment and Selection policy is explaining the negative variance on Perceived

Organizational Performance, which means that the organizations recruitment and selection
policy is not effective and it is required for the corporation to make some changes in
recruitment and selection policy which should suit the employees of the organization and
thereby improve perception of all stakeholders towards the organization.
2. Indian Oil Corporation training & development policy is not effective. This means that the
organization’s training & development policy is not up to the mark and it may require
making some modifications in terms of training development programs. Organization’s
training & development programs should be based on the objectivity.
3. The need-based analysis should be done before every training, and decisions be made as
to what content should be included in the training course so as to improve employees’
performance and the organizational performance.
4. Organization’s job definition policy is not clearly defined. There is a flaw in the job
description. The corporation should give special attention in the area of inappropriateness
while defining the job for each employee in order to improve organizational performance
of the firm.
5. Impact of recruitment & selection, job definition, and training & development practices on
perceived market performance in case of Indian Oil Corporation Limited (IOCL) are not
effective. Hence, the organization should pay special attention in the area of incongruity in
order to improve market performance of the organization.
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CHAPTER 8
CONCLUSION
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CONCLUSION
Indian Oil Corporation Limited Company has a very good market share in the state of Maharashtra
(Nagpur).
The Oil & Gas Industry is among six core industries in India and plays a major role in the growth
of the Indian economy. India is the 6th largest consumer of crude oil. Around 70% of the demand
is fed by the imports of oil and natural gas. Oil Industry is considered to be the backbone of any
economy. Due to rapid globalization, fast-changing technological era and drastic change in ways
and means of doing business, there have emerged tremendous opportunities and challenges for the
petroleum companies in India to expand their business operation to the global market. Human
resource is essential for the effective & efficient functioning of these organizations. Organizations
are made up of people. Best brain on the board is very important for existence & survival of any
organization.
The present research titled “An appraisal of human resource policies and practices in Oil Industry-
a comparative study of Indian Oil Corporation and Essar Oil Limited” is aimed to provide a clear
picture of the impact of existing human resource policies and practices on perceived organizational
performance and employees’ satisfaction in Indian Oil Corporation and Essar Oil Limited. The
study has empirically examined the impact of select human resource practices that influence
organizational performance and employees’ satisfaction in both the Corporations.
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CHAPTER 9
BIBLIOGRAPHY
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REFERENCES
SOURCES FROM INTERNET:
https://www.iocl.com/
https://en.wikipedia.org/wiki/Indian_Oil_Corporation
BOOKS:
Operations Strategy by Michael Lewis
Operations Management by William J. Stevenson
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60

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NIT Graduate School of Management

NIT Graduate School of Management

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

This is to certify that the project report titled “A Descriptive Study of

Dr. Nilesh Yemde Dr. Mukesh Patil

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

APPROVAL OF PROJECT PROPOSAL

Name of Student : - Kishor Wasudeorao Khatik

Enrollment Roll No : -2021016600818886

College : - NIT Graduate School of Management, Nagpur

Address of Student : - Mohpa, Tah - Kalmeshwar Dist - Nagpur

Subject Area : - Operational Management

Name of Guide : - Dr. Nilesh Yemde

Dr. Nilesh Yemde Dr. Mukesh Patil

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

I Kishor Wasudeorao Khatik hereby declare that the project report

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

I take this opportunity with a great pleasure to express our sincere

Mr. Kishor W. Khatik

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

2. Literature Survey 37-38

5. Data Collection 45-47

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

INTRODUCTION OF OPERATION MANAGEMENT

Define - "Operations management is chiefly concerned with planning, organizing and

Operations management is an area of management concerned with overseeing, designing, and

Operations management programs typically include instruction in principles of general

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

PHASE OF OPERATION MANAGEMENT

Phase 1: Planning Operations Systems

Phase 2: Planning Operations, Inventory and Quality Control

Phase 3: Managing Productivity

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

ROLE OF OPERATION MANAGEMENT

“A Descriptive Study of OM Adapted By Indian Oil Corporation Limited

GOAL OF OPERATION MANAGEMENT

“A details study on operation management of Indian Oil Corporation Limited”

MAIN COMPONENTS OF OPERATIONS MANAGEMENT

● Purchasing - Could be either centralized, decentralized, or combined.

● Scheduling - Pertains to scheduling of equipment or labor.

● Process and System Performance - Measured through examination, capacity utilization, or

● Layout of Facilities - Ensure for a smooth workflow.

● Inventory Management - Adequately controlling stock within an organization.

Operation management is a transformation process. In operation management we are able to

 Define ‘operations’ and ‘operations management’

1. Define ‘operations’ and ‘operations management’

2. Operations, operations management and operations managers

The historical development of operations management

The modern period

An unforeseen challenge to Western manufacturers emerged from Japan. New Japanese

processes for collaboration and the development of long-term relationships between

The role of the operations manager

Operations managers' responsibilities include:

 Human resource management – the people employed by an organisation either work

Decision making is a central role of all operations managers. Decisions need to be

 Designing the operations system

The five main kinds of decision in each of these relate to:

1. The processes by which goods and services are produced

3 The transformation model