Internship Report on

A Study on Inventory Management at

Srimukha Industries, Hoskote

Submitted in Partial Fulfilment of the Requirements of

Bachelor Of Commerce Degree of Bengaluru North University

BY

Mr. R P VIKAS GOWDA

REG NO – U19LU22C0046

UNDER THE GUIDANCE OF

Mrs. SOUMYA SINGH B

Assistant Professor

2024 – 25
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 STUDENT DECLARATION

I R P VIKAS GOWDA., Reg. No.U19LU22C0046, hereby declare that this report entitled ―A
Study on Inventory Management at Srimukha Industries, Hoskote ‖ during the summer vacation
between the period from 13-01-2025 to 31-01-2025 at Srimukha Industries, Hoskote ‖ under the
supervision and guidance of ANNAPPA M, Manager, Srimukha Industries, Hoskote

Date : 05/02/2025 Name: R P Vikas Gowda

Place : Bangalore Reg No : U19LU22C0046

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 ACKNOWLEDGEMENT

The successful completion of this internship report required significant guidance and assistance
from many individuals, and I am truly grateful for their support throughout this journey.

Firstly, I would like to express my sincere appreciation to Mr. Annappa M, Manager of

Srimukha Industries, Hoskote, for providing me with the opportunity to intern at their esteemed
organization

I am also deeply grateful to our faculty coordinator, Mrs.Soumya Singh B and our principal
Dr.Baswaraj for their unwavering support and for granting me the valuable opportunity to intern,
which has been instrumental in my learning and exposure to the field of retail.

I would like to extend my heartful thanks to my parents for their permission and constant
encouragement throughout this internship. Additionally, I am thankful to my friends for their
support whenever I needed their assistance during this project.

Lastly, I would like to express my profound gratitude to all individuals who directly or indirectly
contributed to the completion of this report.

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TABLE OF CONTENT

Sl. No PARTICULAR PAGE NO.

1. Executive summary 01

2. Introduction 02-10

3. Description of the organization 11-24

4. Experiential learning 25-32

5. Internship outcome and conclusion 33-39

6. Bibliography 40

7. Annexure 41

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EXECUTIVE SUMMARY

The report is based on experience in manufacturing sector. It includes the company profile
experience by working in the organisation task undertaken skills acquired, challenges faced, and
lessons learnt and it provides the outcomes of the internship sources referred.

This report is based on the Srimukha Industries, Hoskote. The main objectives are to working
environment in the company, inventory tracking systems including barcoding, stock auditing,
data analysis, communication, strength and weakness of the organization.

I did my internship from 13-01-2025 to 31-01-2025. There was various things to learn during
this internship. The main reason to select the Srimukha Industries for internship was the
convenience to travel and to experience how this sector work.

The first day the store manager briefed how the management works, later for first week they
assigned me for stock counting (inventory counting) where we need to count the new stocks
physically when they arrive to the unit and existing stock. Here each and every units are
physically counted by hands and recorded.

The second week I was assigned with inventory tracking. It includes monitoring and managing
the quantities of raw materials of the company. This includes recording incoming and outgoing
materials. In simple it is recording of inputs of the company.

Last week I learned organizing the storage. Keeping the storage area organized is crucial.
Understanding the material categorization, labeling materials, arranging the items for easy
access, etc.,

The major concepts which I have learned during my internship are:

 Inventory recording
 Organising storage
 Stock counting
 Teamwork
 Inputs of company
 Protocols of company

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CHAPTER 1 : INTRODUCTION

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CHAPTER 1 : INTRODUCTION

Inventory management in raw materials is a vital component of supply chain management that
plays a significant role in the overall efficiency and effectiveness of production processes. Raw
materials are the foundational elements that companies use to create their final products, and
managing these materials effectively is crucial for maintaining a smooth workflow and meeting
customer demands.

At its core, inventory management focuses on overseeing the flow of raw materials from
suppliers to the production floor. This involves ensuring that the right quantities of materials are
available at the right time. Proper inventory management helps prevent situations where
production is halted due to a lack of materials, which can lead to delays, increased costs, and
dissatisfied customers. Conversely, having too much inventory can result in unnecessary holding
costs, such as storage fees and insurance, which can negatively impact a company's bottom line.

One of the key aspects of inventory management is tracking stock levels. Companies often
utilize inventory management software or manual tracking systems to keep accurate records of
raw materials on hand. This allows them to monitor usage rates and identify when it's time to
reorder materials. Establishing reorder points—specific levels of inventory that trigger new
orders—is essential for maintaining a continuous supply of raw materials without overstocking.

Additionally, understanding lead times—the period it takes for raw materials to be delivered
after placing an order—is crucial for effective planning. Companies must accurately forecast
demand based on historical data and market trends to ensure they have enough materials to meet
production needs without excess inventory.

Several techniques can enhance inventory management in raw materials. Just-In-Time (JIT)
inventory is one such strategy that minimizes inventory levels by ordering materials only as they
are needed for production. This approach helps reduce holding costs and increases efficiency.
Another method, ABC analysis, categorizes inventory into three classes (A, B, and C) based on
their importance and value, allowing businesses to focus their management efforts where they
matter most. Maintaining safety stock—a buffer of raw materials—can also help mitigate risks
associated with supply chain uncertainties.

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Effective inventory management in raw materials is essential for optimizing production
processes, controlling costs, and ensuring product quality. By implementing best practices and
utilizing appropriate techniques, businesses can enhance their operational efficiency and
responsiveness to market demands, ultimately leading to greater customer satisfaction and
profitability.

The main concepts learned and experienced during the internship was:

Stock counting (Inventory counting)

Inventory counting in inventory management refers to the process of physically counting and
verifying the quantities of items in stock. This is essential for maintaining accurate inventory
records and ensuring that the actual stock levels match what is recorded in the inventory
management system.

This process is also known as assisting with audits where there will be regular inventory audits to
verify stock levels. This involves physically counting items and comparing them to the inventory
records to identify any issues. Participating in periodic inventory audits to ensure that the
physical stock matches the recorded inventory levels. This helps identify discrepancies and
improve accuracy.

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Inventory Count:

- Physical Count: Conduct a physical count of raw materials in the warehouse. This can be
done through periodic counting or cycle counting methods.

- Record Keeping: Ensure that all counts are accurately recorded and compared against the
inventory management system.

Effective stock counting methods are essential to ensure accurate inventory management. Here
are some common methods of stock counting:

1. Physical Inventory Count:

- This involves counting all raw materials in stock at a specific point in time. It can be done
annually, semi-annually, or at any other regular interval. The physical count is then compared to
inventory records to identify discrepancies.

2. Cycle Counting:

- Instead of counting all inventory at once, cycle counting involves counting a portion of the
inventory on a regular basis. For example, you might count different categories of raw materials
on different days. This method helps maintain accuracy throughout the year without disrupting
operations.

3. Perpetual Inventory System:

- This method continuously updates inventory records as transactions occur. Each time raw
materials are received or issued, the inventory count is adjusted in real-time. This allows for
more accurate and up-to-date inventory information.

One of the primary advantages of stock counting is the enhancement of accuracy in inventory
records. Regularly conducting stock counts helps ensure that the actual quantity of items aligns
with the recorded figures. Discrepancies can arise due to various factors, such as theft, damage,
or clerical errors, leading to stockouts or overstock situations. By maintaining accurate inventory
records, businesses can avoid these issues, ensuring that they have the right amount of stock
available to meet customer demand.

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While stock counting is an important aspect of inventory management, businesses must be aware
of its disadvantages. The time and labor involved, the potential for inaccuracies, disruptions to
operations, challenges in maintaining accurate records, associated costs, and the incomplete view
of inventory health can all impact a company's efficiency and profitability. By recognizing these
challenges, businesses can develop strategies to mitigate the drawbacks of stock counting and
enhance their overall inventory management practices.

Inventory tracking

Inventory tracking in a raw material company refers to the process of monitoring and managing
the stock of raw materials throughout the supply chain. It involves keeping detailed records of
the quantities, locations, and status of materials from the moment they are received until they are
used in production or sold.

Raw materials are logged into an inventory management system as they are received. This
includes information such as the type of material, quantity, supplier details, and storage location.
Inventory tracking systems often provide real-time updates on stock levels. This allows
companies to know exactly how much raw material is on hand at any given time, which helps in
making informed purchasing and production decisions.

Stock Movement Tracking involves recording all movements of raw materials, including
receipts, usage in production, and shipments. By tracking these movements, companies can
maintain accurate inventory levels and identify any discrepancies.

Inventory tracking provides valuable insights through reporting and analysis, helping companies
make informed decisions regarding purchasing, production, and inventory management.

Barcode scanning in inventory management primarily comes under inventory tracking. It helps
in accurately monitoring the levels of raw materials by quickly recording incoming and outgoing
items. By scanning barcodes, you can easily update inventory records, reduce errors in data
entry, and streamline the process of tracking stock levels.

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Inventory tracking in a raw material company involves specific steps tailored to managing the
unique aspects of raw materials.

1. Categorization of Raw Materials:

- Classify raw materials based on their type, usage, or supplier. This helps in organizing
inventory and makes it easier to manage.

2. Selection of Tracking Method:

- Choose an appropriate tracking method, such as barcode scanning, RFID technology, or an

inventory management software that suits the scale of your operations.

3. Implementation of Inventory Management System:

- Set up the chosen inventory management system, ensuring all raw materials are tagged (using
barcodes or RFID) and entered into the system for tracking.

4. Initial Inventory Count:

- Conduct a thorough initial count of all raw materials to establish a baseline for stock levels.
This helps identify any discrepancies and provides a reference for future counts.

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5. Regular Updates of Inventory Records:

- Continuously update inventory records as raw materials are received, used in production, or
sold. Real-time updates are beneficial if using automated systems.

6. Monitoring Stock Levels:

- Keep an eye on stock levels to identify trends, such as which raw materials are moving
quickly or slowly. This information is vital for making informed purchasing decisions.

7. Cycle Counting:

- Implement regular cycle counts to verify the accuracy of inventory records. This involves
counting a selection of raw materials at different intervals rather than doing a full inventory
count all at once.

8. Data Analysis:

- Analyze the inventory data to determine turnover rates and identify patterns. This analysis
helps in forecasting future raw material needs and optimizing inventory levels.

9. Reordering Raw Materials:

- Set reorder points for each raw material based on usage rates and lead times. When stock
levels drop to these points, initiate reordering to prevent production delays.

10. Review and Improve Processes:

- Regularly review the inventory tracking processes to identify inefficiencies or areas for
improvement. Adjust methods and systems as necessary to enhance overall inventory
management.

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Organizing storage

Organising storage in inventory management refers to the systematic arrangement of goods and
materials within a storage facility to maximize efficiency, accessibility, and space utilization.

Organising storage is a crucial aspect of inventory management that significantly impacts a

business's efficiency and effectiveness. In today's fast-paced market, having a well-organised
storage system can mean the difference between success and failure. The primary goal of
organising storage is to ensure that products are easily accessible, properly categorised, and
efficiently stored to optimise space and resources.

One of the key elements of effective storage organisation is categorisation. By grouping similar
items together based on type, size, or sales frequency, businesses can streamline their inventory
processes. This not only makes it easier for employees to locate and retrieve items but also helps
in maintaining accurate stock levels. Additionally, implementing a labelling system enhances
this process, as clear labels on shelves and bins guide staff in quickly identifying the products
they need. This reduces the time spent searching for items and improves overall productivity.

Another important factor is the choice of storage systems. Depending on the nature of the
inventory, businesses can opt for various storage solutions such as shelving units, pallet racks, or
bins. The right storage system maximises space utilisation and ensures that items are stored in a
manner that facilitates easy access. Furthermore, practices like inventory rotation, such as First-
In, First-Out (FIFO), are essential for managing perishable goods effectively. By integrating
technology, such as inventory management software, businesses can gain real-time insights into
stock levels and automate reordering processes, further enhancing their storage organisation.

This also includes labeling materials. Labeling materials in a raw material company plays a vital
role in ensuring effective inventory management and operational efficiency. The process of
labeling involves assigning clear and informative tags to each type of raw material, which aids in
identification, organization, and safety.

Proper labeling is crucial for the identification of materials. Each label typically includes
essential information such as the name of the material, SKU (Stock Keeping Unit), batch
number, and expiration date if applicable. This information allows employees to quickly

13
recognize the materials they are handling, which is especially important in a fast-paced
environment where time is of the essence. By having clear labels, the chances of mix-ups or
errors in material usage are significantly reduced.

There are also disadvantages to organizing storage. One of the main challenges is the initial
investment of time and resources. Setting up an organized storage system requires careful
planning, training for employees, and possibly the purchase of new shelving, bins, or inventory
management software. For businesses with limited resources, this upfront investment can be
daunting.

Employees do not consistently follow the established organization protocols, the system can
quickly become chaotic. Regular audits and training may be necessary to ensure that the storage
remains organized, which can add to operational costs and time commitments.

Objectives of study:-

1. Understanding Inventory Control Techniques: Learning about various inventory control

methods. Understanding these techniques will help to grasp how companies manage their stock
levels effectively.

2. Analyzing Inventory Flow: One objective could be to analyze how raw materials move
through the supply chain. This includes studying the processes of receiving, storing, and
distributing materials.

3. Evaluating Inventory Accuracy: Focusing on assessing the accuracy of inventory records. This
involves comparing physical counts of materials with what is recorded in the inventory
management system. Identifying discrepancies can help improve inventory accuracy.

4. Learning about Technology in Inventory Management: Another objective can be to explore

how technology, such as inventory management software and barcode systems, is used to track
and manage inventory. Understanding these tools will provide insights into modern inventory
practices.

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CHAPTER II: DESCRIPTION OF
THE ORGANISATION

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CHAPTER II: DESCRIPTION OF THE ORGANISATION

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COMPANY PROFILE

Establised in the year 2007, the company is committed to offer best Job Work Support to
various industries, in high precision machining of components. The company has been acquiring
state of art machines to constantly improve the service and quality as demanded by the customer.
Certified ISO 9001:2015 the company has been one of the leading supplier for The need of high
precision machined components for Power generation sector and Heavy Construction equipment
manufacturing. Adopting systems for Planning and Process Control helps us to serve the
customers on time and desired quality.

In the early years, Srimukha Industries faced numerous challenges, including fierce competition
and limited resources. However, through innovation and a commitment to quality, the company
quickly gained a reputation for excellence. By 2010, they expanded their product line to include
advanced CNC machines and specialized tooling solutions, attracting clients from various
sectors.

As technology advanced, Srimukha Industries embraced automation and modern manufacturing

techniques, investing in research and development to stay ahead of industry trends. By 2014, the
company had established itself as a leading supplier of machines and tools, exporting products to
markets in Europe and North America.

Today, Srimukha Industries is known for its state-of-the-art manufacturing facilities and a
dedicated workforce that prioritizes quality and customer satisfaction. The company continues to
innovate, focusing on sustainable practices and smart manufacturing solutions, ensuring it
remains a key player in the global manufacturing landscape.

Today, Srimukha Industries is not just a manufacturer but a solutions provider, offering
comprehensive services that include machine design, production, and after-sales support. The
company prides itself on its sustainable practices, utilizing eco-friendly materials and energy-
efficient processes. With a dedicated workforce and a commitment to continuous improvement,
Srimukha Industries aims to remain at the forefront of the manufacturing industry for years to
come.

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Growth

Srimukha Industries Growth Report

Executive Summary:

Srimukha Industries has experienced remarkable growth over the past fiscal year, solidifying its
position as a leading manufacturer of machines and tools in the competitive landscape. With a
focus on innovation, quality, and customer satisfaction, the company has achieved significant
milestones that have contributed to its expansion and success.

Financial Performance:

In 2023, Srimukha Industries reported a revenue increase of 25% compared to the previous year,
reaching an impressive total of ₹150 crores. This growth can be attributed to several key factors:

1. Product Diversification: The introduction of new product lines, including advanced CNC
machines and automated tooling solutions, has attracted a broader customer base. The launch of
eco-friendly machinery has also resonated with clients seeking sustainable options.

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2. Export Expansion: The company successfully entered new international markets, particularly
in Europe and Southeast Asia. Export sales accounted for 30% of total revenue, highlighting the
effectiveness of the company's global outreach strategy.

3. Increased Demand: The resurgence of the manufacturing sector post-pandemic has led to
heightened demand for precision tools and machinery. Srimukha Industries capitalized on this
trend by ramping up production and optimizing supply chain operations.

Operational Enhancements:

To support its growth, Srimukha Industries made significant investments in technology and
infrastructure:

- Facility Upgrade: The manufacturing plant underwent a major renovation, incorporating state-
of-the-art machinery and automation systems. This upgrade increased production capacity by
40%, allowing for faster turnaround times and improved efficiency.

- Research and Development: A dedicated R&D department was established, focusing on

innovative solutions and product enhancements. This initiative has resulted in the development
of proprietary technology that sets Srimukha Industries apart from competitors.

- Employee Training Programs: The company invested in comprehensive training programs for
employees to enhance skills and knowledge in advanced manufacturing techniques. This
initiative has fostered a culture of continuous improvement and innovation within the workforce.

Market Position:

As of 2023, Srimukha Industries holds a 15% market share in the Indian machinery and tools
sector. The company has established strong relationships with key clients, including major
automotive manufacturers and aerospace companies. Customer satisfaction ratings have
improved significantly, with a 95% positive feedback score from clients.

Future Outlook:

Looking ahead, Srimukha Industries is poised for continued growth. The company plans to
launch new product lines focused on smart manufacturing solutions and predictive maintenance

19
technologies. Additionally, further expansion into international markets is on the horizon, with a
target of increasing export sales by 50% in the next fiscal year.

In conclusion, Srimukha Industries has demonstrated resilience and adaptability in a rapidly

changing market. With a strong foundation, innovative products, and a commitment to
excellence, the company is well-positioned for sustained growth and success in the years to
come.

Organization structure

To provide more detailed information on the organizational structure of Srimukha Industries, we

can expand on each department's roles and responsibilities, as well as introduce additional layers
of management and support functions. Here’s an extended view of the organizational structure:

1. Executive Management

- CEO (Chief Executive Officer): Sets the strategic direction of the company, makes high-level
decisions, and represents the company at industry events. Responsible for overall performance
and stakeholder communication.

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 - COO (Chief Operating Officer): Implements the CEO’s vision by overseeing daily
operations. Responsible for optimizing production processes and ensuring operational efficiency.

2. Departments

- Production Department

- Production Manager: Develops production schedules, manages resources, and ensures that
production targets are met. Responsible for workforce management and training.

- Shift Supervisors: Oversee operations during specific shifts, ensuring adherence to safety
and quality standards. Act as a liaison between operators and management.

- Machine Operators: Skilled workers who operate and monitor machinery. Responsible for
maintaining production quality and reporting any issues.

- Quality Control Department

- Quality Control Manager: Develops quality assurance policies and procedures. Analyzes
production data to identify areas for improvement.

- Quality Inspectors: Conduct regular inspections and tests on raw materials and finished
products. Document findings and ensure compliance with industry standards.

- Sales and Marketing Department

- Sales Manager: Develops sales strategies, sets sales targets, and monitors performance.
Responsible for training and motivating the sales team.

- Sales Representatives: Identify potential customers, build relationships, and close sales.
Provide feedback to the management regarding market trends.

- Marketing Manager: Oversees marketing campaigns, branding, and market research.

Coordinates with sales to align marketing strategies with sales goals.

- Finance Department

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 - Finance Manager: Prepares financial reports, manages budgets, and forecasts financial
performance. Responsible for financial compliance and risk management.

- Accountants: Handle daily financial transactions, manage payroll, and prepare tax filings.
Ensure accurate financial reporting and record-keeping.

- Human Resources Department

- HR Manager: Develops HR policies, manages recruitment and onboarding, and oversees

employee development programs. Handles employee relations and conflict resolution.

- HR Assistants: Support HR functions, maintain employee records, and assist in recruitment

processes. Facilitate training and development initiatives.

3. Support Functions

- IT Department

- IT Manager: Manages the company’s IT infrastructure, ensuring systems are secure and
efficient. Responsible for implementing new technologies.

- Support Technicians: Provide technical support to employees, troubleshoot IT issues, and

maintain hardware and software systems.

- Maintenance Department

- Maintenance Manager: Oversees all maintenance activities, ensuring that machinery is

serviced regularly and downtime is minimized.

- Maintenance Technicians: Perform repairs and preventative maintenance on equipment.

Conduct regular inspections to ensure safety standards are met.

4. Additional Roles

- Research and Development (R&D): As the company grows, a dedicated R&D team can be
established to innovate new products and improve existing ones.

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 - Customer Service Department: Handles customer inquiries, complaints, and feedback,
ensuring customer satisfaction and loyalty.

This comprehensive organizational structure allows for clear communication and accountability
within Srimukha Industries. Each department plays a vital role in the overall success of the
company, with defined responsibilities that contribute to operational efficiency and growth. As
the company expands, this structure can be further refined to accommodate new roles and
departments.

MACHINE SHOP FACILITIES:

1. CNC TURNING CENTER DIA 200 MAKE=JYOTI CNC AUTOMATION

2. PARISHUDH TC 250 CNC

3. VMC –X,Y&Z 750X350 x350 TRAVEL BFW Make

4. VMC – X,Y&Z 610X610X 1500 TRAVEL BFW xtron1366

5. VMC – X,Y &Z 550X550X1000 TRAVEL HARTFOR

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CUSTOMER LIST

We are serving the following esteemed customers.

1. DISA INDIA LTD.

2. GOPALAN AEROSPACE INDIA PVT . LTD.

3. SIEMENS LTD DEVANAHALL.

4. FERRUM EXTREME ENGINEERING PVT LTD.

5. SPIRAL EHL ENGINEERING Aerospace.

6. BHEL EPD BANGALORE.

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CONVENTIONAL MACHINES

a. All geared 8‖ HIGH SPEED LATHE Machine, (KOREA MAKE).

b. UNIVERSAL Heavy Duty LATHE Machine 12‖ Centre.

c. TURNO MAX Heavy Duty LATHE Machine 10‖ Centre Height 7ft.

d. Two TOOL ROOM MILLING With ―D.R.O‖.

e. Two RADIAL DRILLING MACHINE Capacity OF 1.5 ―(EIFCO).

f. HMT GEARED HEAD L B – 17 MACHINE & LB-20.

g. Two CO2 MIG WELDING MACHINES.

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26
27
List of instuments

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CHAPTER III: EXPERIENTIAL
LEARNING

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CHAPTER III: EXPERIENTIAL LEARNING

Learning various concepts and experiencing it in reality has huge difference between them.

The internship undertakened helped to bridge gap between theoretical knowledge and practical
knowledge.

The tasks undertaken during internship was:-

 Data entry and record keeping

 Inventory audits
 Monitoring stock levels
 Organising storage
 Labelling materials
 Arranging the materials
 Inventory tracking and barcode scanning
 Physical stock counting

The responsibilities given:-

 Responsible for regular checking inventory levels to ensure that stock is available
 Ensuring that records are up to date
 Assisting in organising stock in the warehouse or storing area.
 Participating in regular cycle counts to ensure accuracy inventory records

During an internship in inventory management, interns acquire a diverse set of skills that are
essential for effectively managing inventory and contributing to the overall efficiency of an
organization. One of the primary skills developed is analytical thinking.

Interns learn to analyze inventory data to identify trends, track performance, and forecast
demand. This analytical ability is crucial for making informed decisions regarding stock levels,
order quantities, and timing, ultimately enabling businesses to reduce costs and improve service
levels.

30
Additionally, interns develop strong organizational skills. They learn how to categorize and
manage inventory effectively, ensuring that products are stored in a manner that maximizes
space and accessibility. This skill is vital for maintaining order and efficiency in warehouses or
storage facilities, which directly impacts the speed of order fulfillment and overall productivity.

Along with skills even interns face challenges during internship. Interns in inventory
management often encounter a variety of challenges that can impact their learning experience
and overall effectiveness in the role. One significant problem is the steep learning curve
associated with understanding complex inventory management systems and software.

Many organizations utilize advanced tools for tracking inventory, managing orders, and
analyzing data. Interns may initially struggle to navigate these systems, which can lead to
frustration and a slower adaptation process. This challenge can hinder their ability to contribute
effectively to the team, especially in fast-paced environments where timely decision-making is
crucial.

Interns may also face challenges related to adapting to the organizational culture and dynamics.
Each workplace has its own unique culture, and interns must quickly acclimate to the
expectations, values, and social norms of the organization.

31
Skills acquired during internship:-

 Accuracy in Counting:
Developing the ability to perform precise stock counts to ensure inventory records match
physical stock levels.

 Methodical Counting Techniques:

Learning various counting methods, such as cycle counting and full inventory counts, to
maintain accurate inventory records.

 Attention to Detail:
Enhancing your ability to notice discrepancies in stock levels and ensure all items are
accounted for during counts. Developing a keen eye for detail is essential. This skill helps
to recognize discrepancies in inventory counts, ensuring that every item is accounted for
accurately. It fosters a habit of double-checking work and being meticulous in data entry.

 Time Management:
Learning to efficiently manage time during stock counting processes, especially in high-
volume environments.

 Collaboration:
Working with team members to coordinate stock counting efforts, ensuring everyone
understands their roles and responsibilities.

 Adaptability:
Being able to adjust counting methods and processes based on varying inventory types
and environments.

 Inventory Categorization:
Understanding how to categorize inventory effectively, making counting more efficient.

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 Barcode scanning:
Familiarizing with barcode scanning and tracking systems, which streamline the
inventory tracking process. Using barcode scanners significantly speeds up the process of
receiving, tracking, and shipping inventory. You’ll learn to scan items quickly, reducing
the time spent on manual entry.

 Inventory Auditing:
Gaining experience in conducting regular audits to verify that the physical inventory
matches the records. Developing the ability to analyze discrepancies between physical
counts and recorded inventory. This involves identifying patterns or issues that may
indicate larger problems in inventory management.

 Problem-Solving:
Developing skills to identify and resolve discrepancies between physical inventory and
recorded data. This involves troubleshooting potential causes of counting errors and
implementing corrective measures, thereby enhancing their problem-solving capabilities.

 Space Optimization:
Learning how to effectively utilize storage space, arranging products to maximize
capacity while ensuring easy access.

 Labeling Systems:
Developing skills in creating and maintaining labeling systems that help identify products
quickly and accurately.

 FIFO and LIFO Methods:

Gaining knowledge of inventory management methods such as First-In-First-Out (FIFO)
and Last-In-First-Out (LIFO) for organizing stock.

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  Record Keeping:
Developing skills in maintaining accurate records of inventory locations and movements
within the storage area.

Challenges faced during internship:-

 Time limitations:
Stock counting can be time-sensitive, and interns may feel pressure to complete counts
quickly, which can lead to errors if not managed properly. Balancing the responsibilities
of tracking inventory with other tasks can be challenging, especially during busy periods.
Balancing the task of organizing storage with other responsibilities can be challenging,
especially during peak times when inventory levels fluctuate.

 Too many information absorptions:

The interns must take in at once a whole lot of information like company policy, rules
and regulations, work details etc. As internships are generally over a short period of time,
the time frame needed to learn and get used to this new culture is very short.

 Inexperience with Stock Counting Procedures:

As an intern it was not be familiar with the specific procedures for stock counting, which
can lead to mistakes or inefficiencies.

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 Learning Inventory Categories:
Understanding different categories of inventory and their specific counting methods can
be complex, especially if the inventory is diverse.

 Data Entry Errors:

Accurate data entry is crucial for effective inventory tracking. Interns might make
mistakes when inputting data, leading to discrepancies in inventory records.

 Real-Time Tracking Difficulties:

Keeping track of inventory in real-time can be challenging, especially if there are
frequent changes in stock levels due to sales, returns, or restocking.

 Communication Gaps:
Effective inventory tracking often requires collaboration with other departments (like
sales and procurement). Interns might face challenges in communicating effectively with
team members.

 Knowledge of Inventory Types:

Different types of inventory (e.g., perishable goods, bulky items) require different storage
solutions. Not having prior knowledge of these requirements, leading to improper storage
practices.

 The perception of incompetence:

Interns frequently deal with the impression that they lack expertise or knowledge
in their industry. They risk having their opinions or ideas dismissed by bosses or
coworkers because they believe them to be inexperienced. For interns, this can
make it difficult to speak up or get credit for their abilities. For interns, getting
over this stigma and building credibility can be difficult.The environment at each office,
organization, and company is different.

35
 As an intern, you have to work with different challenges, goals, and work cultures.
During the initial days, most interns get nervous working in such an unfriendly
environment and are unable to continue their internshipswhile others are unable to
perform to the best of their ability.

 Internships may present various hurdles, but with the right mindset and strategies,
these challenges can be overcome. By addressing issues such as awkwardness,
lack of meaningful work, perceptions of incompetence, information overload,
seeking guidance, and maintaining professionalism, interns can make the most of
their internship experiences. Remember, every challenge is an opportunity for
growth and learning. Embrace these challenges, seek support when needed, and
stay determined to succeed. Your internship can become a stepping stone towards
a successful future career.

Overall, this internship not only allowed me to acquire essential skills but also taught me how to
navigate challenges effectively, which I believe will be beneficial in my future career.

36
CHAPTER IV: INTERNSHIP
OUTCOMES AND CONCLUSION

37
CHAPTER IV: INTERNSHIP OUTCOMES AND CONCLUSION

The outcomes of this internship were significant. I developed critical skills such as attention to
detail, analytical thinking, and proficiency in inventory management software. I contributed to
improving inventory accuracy through regular audits and learned best practices for inventory
tracking and organization. This experience has equipped me with the tools necessary to pursue a
career in inventory management and has solidified my interest in this field.

It was a pleasant experience to have an internship project in a company like Srimukha Industries.
It has given me an opportunity to know all dimensions of the inventories and how to tackle
problems. I have learned various functions carried out at all the levels of organization. After a
rigorous period of my project, I came to know that practical knowledge is different from
theoretical concepts.

In my work experience with physical stock counting at a raw material company, I was primarily
responsible for ensuring that the inventory levels of various raw materials were accurately
tracked and recorded. This involved conducting regular physical counts of materials stored in the
warehouse, such as metals, plastics, and other essential components.

During the counting process, I used tools like barcode scanners to facilitate quick and precise
data collection. I would then compare the counted quantities to our existing inventory records to
identify any discrepancies. If I found differences, I would investigate the reasons behind them,
which often included checking for misplaced items or errors in data entry.

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Collaboration was a significant part of my role. I worked closely with the warehouse team to
streamline our inventory processes and ensure that all incoming and outgoing materials were
accurately documented. This teamwork helped prevent stock shortages or excesses, which could
disrupt production.

Whenever there was a mismatch between the counted stock and our inventory records, I
investigated the issue. This often involved checking with team members, reviewing past records,
and ensuring that all incoming and outgoing materials were properly documented. If I discovered
any patterns of discrepancies, I worked with the management team to address these issues, which
sometimes led to improved procedures for receiving and storing materials.

Overall, my experience in physical stock counting provided me with valuable insights into
inventory management and reinforced the importance of precision in maintaining operational
efficiency within the company.

Next I did inventory tracking. During my internship at a raw material company, I had the
opportunity to engage deeply with inventory tracking, which yielded several significant
outcomes that enhanced both my professional skills and the company's operational efficiency.
One of the most notable outcomes was the improvement in accuracy of inventory records. By
actively participating in regular audits and utilizing barcode scanning technology, I was able to
help identify discrepancies between physical stock and recorded inventory. This experience
taught me the importance of meticulous attention to detail and reinforced the need for accurate
data in inventory management.

I also implemented a robust inventory management system. This included regular stock checks
and maintaining accurate records of inventory levels. By keeping a close eye on stock, I could
identify when we were running low on specific materials, which allowed us to reorder in a timely
manner and avoid production delays. This proactive approach was essential in maintaining a
steady flow of raw materials.

Another important outcome was the development of my analytical skills. As I tracked inventory
levels and monitored usage patterns, I learned how to analyze data to forecast future material
needs. This ability to interpret data not only aided in preventing stockouts but also contributed to
more informed decision-making regarding purchasing and production schedules.

39
This delivery challan where name of the material, date, quantity of the material, rate per unit,
total amount, etc.,

This will be treated as proof of delivery with official seal.

40
During my time working in organizing storage and managing a warehouse for a raw material
company, I gained extensive experience in several critical areas that contributed to the overall
efficiency and effectiveness of our operations.

This the stock enrty done in store. Here date, material name, quantity, etc., are recorded.

I analyzed how materials were arranged and made strategic changes to maximize space
utilization. This involved categorizing materials based on their usage frequency, ensuring that
frequently accessed items were easily reachable while less commonly used materials were stored
further back. This reorganization significantly improved efficiency, allowing team members to
locate and retrieve materials quickly.

41
One of my responsibilities was to assess and optimize the warehouse layout. I analyzed the flow
of materials and identified bottlenecks that hindered productivity. This involved reconfiguring
storage areas to ensure that frequently used materials were easily accessible while less
commonly used items were stored in less accessible locations. By implementing a systematic
approach to categorizing raw materials based on their type, size, and usage frequency, I was able
to create a more organized environment that facilitated quicker retrieval times and reduced the
risk of errors.

I focused on the layout of the storage areas. I assessed how materials were stored and made
changes to optimize the space. This meant arranging items in a way that made sense based on
their usage frequency—keeping commonly used materials close at hand and storing less
frequently needed items further away. This reorganization helped improve accessibility and
reduced the time needed to find and retrieve materials.

I learned to be adaptable and quick-thinking. The nature of working with raw materials meant
that unexpected challenges could arise, such as changes in demand or supply delays. I became
skilled at assessing these situations and finding solutions to keep operations running smoothly.

During my internship experience in stock counting, inventory tracking, and organizing storage at
a raw material company, I gained valuable insights and skills that will benefit my future career. I
learned the importance of maintaining an organized storage system, which not only enhances
efficiency but also ensures that materials are readily accessible for production needs. Through
hands-on experience with inventory management, I developed a keen eye for detail and the
ability to analyze stock levels effectively. This helped me understand the critical role that
accurate tracking plays in preventing shortages and optimizing resource allocation.

On the positive side, I gained practical skills in managing inventory and learned how crucial
effective storage organization is for operational efficiency. I enjoyed the hands-on work and the
satisfaction of seeing improvements in the workflow as I implemented better storage solutions.

However, there were also challenges. At times, keeping track of inventory levels was
overwhelming, especially during peak periods when materials were in high demand.
Additionally, adapting to unexpected changes in supply or demand required quick thinking and
flexibility, which could be stressful.

42
In conclusion, my experience in physical stock counting provided me with valuable insights into
inventory management and reinforced the importance of precision in maintaining operational
efficiency within the company. Stock counting at the raw material company allowed me to
develop strong organizational skills, attention to detail, and a deeper understanding of inventory
management processes, all of which are crucial in maintaining a well-functioning supply chain.

My internship in inventory tracking at a raw material company provided me with valuable skills
and insights. The outcomes of improved accuracy, enhanced analytical abilities, and
strengthened communication skills have equipped me for future challenges in the field. Overall,
this experience has solidified my understanding of the critical role that inventory management
plays in the success of a company.

My work in organizing storage and managing a warehouse in a raw material company provided
me with a comprehensive understanding of inventory management, warehouse optimization, and
team leadership. The skills I developed in this role have equipped me to contribute effectively to
any organization focused on improving operational efficiency and ensuring the timely
availability of materials. Overall, my work in organizing storage at the raw material company
involved optimizing the layout, managing inventory, fostering communication, training staff, and
adapting to challenges—all of which contributed to a more efficient warehouse operation.

Overall, my time at the company allowed me to contribute to a streamlined operation while also
equipping me with practical skills and knowledge about the logistics and supply chain processes
in a raw material environment. I'm grateful for the opportunity and excited to apply what I've
learned in future endeavors. This internship provided me with valuable insights into the logistics
of raw material management, highlighting both the importance of organization and the need to be
adaptable in a fast-paced environment. I'm grateful for the experience and confident that the
skills I've developed will serve me well in my future career.

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BIBLIOGRAPHY

The books referred are :

 "Inventory Management: Principles, Concepts and Techniques"

- by John W. Toomey

 "Inventory Optimization: Models, Practices, and Strategies"

- by Edward A. Silver, David F. Pyke, and Rein Peterson

Websites referred are :

 https://www.netsuite.com/portal/resource/articles/inventory-management/inventory-
management.shtml
 https://www.investopedia.com/terms/i/inventory-management.asp
 https://go.oracle.com/LP=143100?src1=:ad:pas:go:dg:a_apac:l5:RC_GOOG220512P
00043C17393:MainAd&gclsrc=aw.ds&gad_source=1&gclid=Cj0KCQiAs5i8BhDm
ARIsAGE4xHye9_swT7lxRr3mCNsBlR6e9pXFZLXggFkj7c4kmeXUjzwY6tZk1W
kaAkqAEALw_wcB

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ANNEXURES

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