A PROJECT REPORT On

INVENTORY MANAGEMENT SYSTEM

Submitted in partial fulfillment of the requirements for the award of the degree of

MASTERS OF BUSINESS ADMINISTRATION

UNDERTAKEN AT

TATA MOTORS LIMITED (PANTNAGAR)

DOON UNIVERSITY
SUBMITTED BY :

ANJALI GUMBER SMS 085

DECLARATION
I ANJALI GUMBER student of MBA hereby, declare that the project report entitled INVENTORY MANAGEMENT SYSTEM is an authentic work developed by me at Tata Motors Limited, (Pantnagar) under the guidance of Mr.Manoj Kumar (Material auditor) submitted in partial fulfillment of the requirements for the award of the Masters Of Business Administration (MBA) DOON UNIVERSITY (DEHRADOON).

I also declare that, any or all content embodied in this project report has not been submitted in any form for the award of any degree or diploma of any other institution or university.

ANJALI GUMBER

MBA (2012 -2014)

SMS -085

ACKNOWLEDGEMENT

Management is a profession wherein no work can be accomplished without the help of a large number of people, be it your superiors or subordinates. A good manager is the one who knows how to get the work accomplished with the help of his colleagues. As future managers, we are taught to practice such behavior at every step. As a requirement for 2 year full time MBA course, I feel greatly honored for having done my summer internship program with TATA MOTORS LTD. PANTNAGAR I am really grateful to my guide Mr. MANOJ KUMAR (material auditor) for guiding and providing me with necessary help throughout the project. Without his critical and timely suggestion, this project would never have been possible. I am also thankful to all the faculty members to provide this opportunity to get familiar and learn practically. Last but not the least I am thankful to all those people who help me directly or indirectly by providing their valuable suggestions and cooperation. I also thank my parents and my friends for their constant support and love.

With sincere thanks Anjali Gumber

PREFACE
A comprehensive practical study of management is a supplement to the theoretical classroom knowledge. It helps to understand the subject more precisely. This report tries to outline idea of professional world & helps in understanding the pragmatic aspect of management function. Own observation are significant towards the contribution in learning the subject. The report is therefore designed as a reference of organization functioning rather than copy down instrument. The purpose of vocational training to make management student familiar with day to day functioning of business. The present report is an effort in this direction. My humble endeavor & motive in presenting the project report is to impart a balanced introduction & knowledge of functions of inventory management which is an important integral part of Financial Management. It is hoped that this project will serve as a supportive document to research worker as efforts has been tried to make this report an informative, stimulating & self explanatory.

TABLE OF CONTENTS
Part I Introduction of the organization Tata Motors Pantnagar Part II Objectives of the study Introduction of the Inventory Management Concept of inventory Inventory management Need for inventory control Objectives of inventory control Importance of inventory control Inventory in Tata motors Criteria for judging the inventory system Inventory flow chart Inventory valuation in Tata motors Inventory control in Tata motors Rejection handling Inventory control techniques Analysis of unused inventory Inventory level in Tata motors Inventory turnover Procurement items at vendor park and outside vendor park Important concept of EOQ Production planning and control Reconciliation and adjustment

PART III Conclusion Annexure-1 Bibliography Appendix

INTRODUCTION OF TATA MOTORS

The Tata Group was founded by Jamsetji Tata in the mid 19th Century. Today the Tata Group comprises of 96 operating companies in seven business sectors viz. Information systems and communications; engineering; materials; services; energy; consumer products and chemicals. Tata companies today employ around 2,46,000 people. In Tata Group our purpose is to improve the quality of life of the Communities we serve. We do this through leadership in sectors of national economic significance, to which the Group brings a unique set of capabilities. This requires us to grow aggressively in focused areas of business. The Tata name is a unique asset representing leadership with trust. Leveraging this asset to enhance Group synergy and becoming globally competitive is the route to sustained growth and long-term success. The Tata Group has always sought to be a value-driven organization. These values continue to direct the Group's growth and businesses. It is the leader by far in commercial vehicles in each segment. Tata Motors Limited is amongst the India's largest automobile company. The company is the world's fifth largest medium and heavy commercial vehicle manufacturer. The company's employees are guided by the vision to be best in the manner in which we operate, best in the products we deliver and best in our value system and ethics. The automotive industrys contribution to the Indias current GDP is 5% and is expected to be 10% by 2016 Currently it provides employment 10 million people in the country and this is expected to rise to 25 million by 2016. A Tata motor is a dominant player in the automobile industry in India, with a 28% market share.

HISTORY OF TATA GROUP:

The Tata Titans (Jamsetji Tata | Sir Dorab Tata | Sir Ratan Tata | JRD Tata | Naval Tata) There is a difference between making money for oneself and creating wealth for others. This is the story of a business house that has created wealth for a nation. It is a story of struggle, anxiety, adventure and achievement. This is the story of our pioneers.

Jamsetji Tata: The founder of the Tata Group began with a textile mill in central India in the 1870s. His powerful vision inspired the steel and power industries in the country, set the foundation for technical education, and helped India leapfrog from backwardness to the ranks of industrialised nations.

Sir Dorab Tata: Through his endeavours in setting up Tata Steel and Tata Power, this elder son of Jamsetji Tata was instrumental in transforming his father's grand vision into reality. It was also under his leadership that the Sir Dorabji Tata Trust, the premier charitable endowment of the Tatas, was created, propelling the Tata tradition of philanthropy.

Sir Ratan Tata: Jamsetji Tata's younger son had a personality that reflected his sensitivity to the struggles of ordinary people and his desire to utilise his considerable wealth to enhance the quality of public life. A philanthropist all his life, he created a trust fund for "the advancement of learning and for the relief of human suffering and other works of public utility.

JRD Tata: The late chairman of the Tata Group pioneered civil aviation on the subcontinent in 1932 by launching the airline now known as Air India. That was the first of many path-breaking achievements that JRD, who guided the destiny of the Group for more than half a century, came to be remembered for.

Naval Tata: Naval Tata's myriad contributions in the fields of business, sports administration and labor relations symbolized all that is best in the Tata spirit.

VISION, MISSION, CULTURES AND VALUES OF TATA MOTORS LTD:

Business Description of Tata Motors

Tata Motors, formerly known as Tata Engineering & Locomotive Co. (TELCO) is one of the leading automobile manufacturer in India with portfolio that includes trucks, buses, utility vehicles, passenger cars. It also has a strong auto finance operation, TML Financial services ltd, supporting customer to purchase Tata Motors vehicles

Locations
Tata Motors' plants are located at Jamshedpur (eastern India), Pune and Sanand (west), Dharwad (south west) and Lucknow and Pantnagar (north). Tata Motors and Fiat have set up a common manufacturing facility at Ranjangaon, near Pune. Its headquarter is in Mumbai, India.

Management
The Company has 11 Board of Directors and the Board is chaired by Mr. Ratan Tata. Mr. Ravi Kant is the Managing Director.

Subsidiary companies
Tata Motors had 64 (direct and indirect) subsidiaries (9 in India and 55 abroad) as on March 31, 2012, as disclosed in the accounts.

Listing
The Companys securities are listed on the Bombay Stock Exchange of the India Limited (BSE), National Stock Exchange of India Limited (NSE) and Madhya Pradesh Stock exchange Limited (MPSE). Also, Tata Motors is the first company from Indias Engineering sector to be listed in the New York Stock Exchange (September 2004).

PRODUCTS OF THE COMPANY

Passenger car:
Tata Indica Indica Turbo Indigo xl Indica v2 Indica v2 xeta Indica vi Dicor Indigo Indigo Marina Indigo CS Fiat CS

Utility Vehicle:
Safari Dicor Sumo Grande Tata Sumo Xenon XT

Trucks
Medium heavy commercial vehicle Inter mediate commercial vehicle Light commercial vehicle Small commercial vehicle Tata Ace Tata Novus TL 4x4

Commercial Passenger Carriers

Buses Tata winger Tata magic

TATA MOTORS PLANTS IN INDIA:

Tata Motors
Pantnagar 2007
Lucknow 1992 Sanand 2009 Pune 1966 Jamshedpur 1945

1945-2008

Dharwad 1997

PROFILE OF THE TATA MOTORS PANTNAGAR:

Year of Establishment: 2007

Industry Name:

Auto / LCVs / HCVs

Location:

Pantnagar

Area:

957 acres

No. of Employees:

6500(permanent)

Production (per day):

1200 Vehicles

Types of Brands:

TML Plant Area:

620 acres

Vendor Park Area:

337 acres

Road Length:

15 km.

The TATA MOTORS LTD Pantnagar project started in March 2006. The construction work of the plant started in the month of April 2006. The equipments of the plant to manufacture the vehicle were received on site in October 06. The first phase of equipment installation was completed in Feb07. The trials for the setup started in April. The plant being the largest amongst the entire TATA Motors group occupies a total area of 957 Acres, out of which TML plant area will comprise of 620Acres and the Vendor Park Area is 337 Acres. Another unique feature that the plant possesses is the facility provided to the vendors in the Vendor Park. There are in all 60 vendors in the vendor park, covering a net supply of 93%.

Areas of business
Tata Motors makes passenger cars, multi-utility vehicles and light, medium and heavy commercial vehicles.

Passenger cars: The Company launched the compact Tata Indica in 1998, the sedan Indigo in 2002 and the station wagon Indigo Marina in 2004. Utility vehicles: The Tata Sumo was launched in 1994 and the Tata Safari in 1998. Commercial vehicles: The commercial vehicle range extends from the light two-tonne truck to heavy dumpers and multi-axled vehicles in the above 40tonne segment. Passenger buses: The Company also manufactures and sells passenger buses, 12-seaters to 60-seaters, in the light, medium and heavy segments.

TOTAL SALES: Total sales for 2012-2013 of Tata Motors ltd. Pantnagar are 901,546.60 lacks.

TATA MOTORS PRODUCT AT PANTNAGAR

Tata Sumo Gold

Ace and other variants of Ace-HT

Ace- Magic

With state of the art paint shop and work force from all over India, Pantnagar Plant Promises to be a unique plant with world class practices and excellent corporate culture

OBJECTIVES OF THE STUDY:

The study of the Inventory Management is done in TATA MOTORS LTD. Pantnagar plant to serve the following purpose:
Control investment in inventories and keep it at an optimum level. To know about the techniques which they are adopting for inventory control. To find out the criteria for judging the inventory system. To minimize inefficient inventory and reduce inventory carrying cost. Maintain sufficient stocks of raw materials in periods of short supply. Maintain sufficient finished goods inventory for smooth sales operation, and efficient customer service.

CONCEPTS OF INVENTORY:
INVENTORY
Inventory can be broadly defined as the stock of goods, commodities or other economic resources that are stored or reserved at any given period for future production or for meeting future demands.

Classification of Inventories:
Direct inventories It includes those items which play a direct role in the manufacturing and become an integral part of finished goods. The direct inventories are as follows: 1. Raw materials inventories. 2. Work in process inventories. 3. Finished goods inventories.

Indirect inventories Indirect inventories include those items which are necessary for manufacturing but do not become component of finished goods production, such as lubricants, oil, grease, stationeries, maintenance material etc.

INVENTORY MANAGEMENT
Managing the level of inventory is like maintaining the level of water in a bath tub in an open drain. The water is flowing out continuously. If the water is let in too slowly, the tub is soon empty. If the water is let in too fast, the tub over flows.

At Introduction The investment in inventory is very high in the most of the undertaking engaged in manufacturing, whole sales and retail trades. It is necessary for every management to give proper attention to inventory management. A proper planning of purchasing handling, storing and accounting should form a part of inventory management. An efficient system of inventory management will determine (a) What to purchase (b) How much to purchase (c) From where to purchase (d) Where to store, etc The purpose of inventory management is to keep the stocks in such a way that neither there is over-stocking nor under-stocking. The over-stocking will mean reduction of liquidity and starving of other production processes: under-processes, on the other hand, will result in stoppage of work. The investment in inventory should keep in reasonable limits. There are some types of inventories held by Tata motors; Raw material & component Stock-in-process Finished goods Maintenance repair & operating supplier Pipe line or in-transit inventory

NEED FOR INVENTORY CONTROL:

Uncontrolled Inventory Is the Industrys Cancer is the well-known slogan. If the inventories are not controlled effectively it will create many problems in the industry. So there is a need for every company to control its inventory in all stages.
Effect of control at raw material Since, cost of raw material consists of more than 25% of the cost of production in any industry, it requires constant control. The adverse control of raw material leads to stock outs. Losses in materials are wastage and consequent to which the cost of production will be increased. Thereby chances of incurring losses are more. So, the necessary control of raw material at the initial is very essential to minimize the losses. Thereby non interruption of continuous production is possible. Effect of control at finished goods If the finished goods are not controlled properly it will lead to excess stock which leads to High incident of stock holding price Drop in margin through price reduction Pilferage or damage consequence to long storage Effect of uncontrolled of other inventories If spares are not controlled; it will lead to production held up If the machine gets obsolescence, over stocking of spares inventory will lead to high inventory level. Hence the non availability of a single material, which contributes production, Not even 1% will create critical situation, which may stop the production or Finished goods movement in any industry. For example, the non availability of Grease, oil thinner etc. will stop dispatch of finished goods .in this case, its percentage in terms of value is negligible but its worthies high with regards to marketability of materials.

From, the financial point of view inventory is the single largest asset in the balance sheet in many manufacturing companies. Inventory accounts for a substantial portion blocking the major portion of the working capital. So, it is absolutely necessary rather a must, to control the inventory for not only effective management of working capital but also for smooth production and to cut the cost of interest so as to sustain and survive in business especially in todays era of cutthroat competition. Thus managing inventory into an optimum level is all the more important which result in cost reduction, efficient use of working capital and improved earnings. In todays Industrial climate, multi national corporations are entering into all fields of Business that too, in auto industries. This Situation leads to heavy Competition among the Industries in the same field. Their Main expectations are: Quality Prompt delivery Competitive Price All The above needs, Free flow Of Material and Working capital. Free flow of materials can be achieved through proper control and managing of inventories. Major contribution from this project work will result in reduced percentage of holding inventories, utilization of limited resources and overall improvement in control of inventories by application of scientific inventory control the system like economic order quantity, fixing reorder level, ABC analysis and safety stock level.

OBJECTIVES OF INVENTORY CONTROL:

Inventory control is a highly significant function because it consist substantial portion of total current asset of a firm. To minimize the investment in inventories: The main objective of a system of inventory control is minimizing the capital blocked in the inventories.The capital required to carry inventories costs money and holding asset in the form of inventories results in decreased liquidity. To ensure that the value of material consumed to minimum: To ensure this objective there should be proper control of materials from the placing oforders with supplies fill the materials have been efficiently utilized in production. Efficient purchasing, storage, consumption and accounting for materials are an important objective of inventory control. To provide scientific control: To provide scientific base for short term and long term planning of inventory requirements. To protect from losses: The inventories storage from pilferage, theft, wastage, damage and unauthorized use. To reduce surplus stock: Reducing of surplus stock is one of the essential requirements of effective inventory control. Inventory controls critically examines excessive stock and take appropriate measures to bring down stock to a reasonable level and then by reduce investment. Inventory control takes timely action for replenishment. It also provides a safe guard for variations in raw material delivery time or lead time.

INVENTORY IN TATA MOTORS:

Materials from the most critical input of any business firm. Proper handling and control of material input ensures the smooth running of plant. Material management includes the procurement , receipt issue, and control of materials in right quantity and at right time to facilities the production function. INVENTORY At TATA MOTORS LTD. (Pantnagar) is categorized in to two main categories according to its nature which are as follows: 1) Auto item 2) Non-Auto item

Auto Item
These are the items which are directly used for manufacturing a vehicle. It is in the sense that the use of these items is done by its specified plant not else. And a plant has a code (3100). Plant have been divided into many workshop where we use the auto item which are: TCF (Trim, Chassis, Finish) BIW (Body in white) GEAR SHOP ENGINE SHOP PAINT SHOP

 Non-Auto Item
These items are used indirectly for manufacturing the vehicle. These items further classified in to two sub categories. Which are: a) CMS / spare/ Tools: -The main work of Central machine spare (CMS) to make the spare part of vehicle. b) Indirect Materials (Oil,Thinner,Grease)

Other categories of inventory should be considered from a functional standpoint: Consumables: Light bulbs, computer and photocopying paper, brochures, tape, envelopes, cleaning materials, lubricants, fertilizer, paint, packing materials, and so on are used in many operations. These are often treated like raw materials. Service, repair, replacement, and spare items (S&R Items): These are aftermarket items used to keep things going. As long as a machine or device of some type is being used (in the market) and will need service and repair in the future, it will never be obsolete. S&R Items should not be treated like finished goods for purposes of forecasting the quantity level of your normal stock. Quantity levels of S&R Items will be based on considerations such as preventive maintenance schedules, predicted failure rates, and dates of various items of equipment. Buffer/safety inventory: This type of inventory can serve various purposes, such as: compensating for demand and supply uncertainties. holding it to decouple and separate different parts of your operation so that they can function independently from one another.

 Transit Inventory: This is inventory en route from one place to another. It could be argued that product moving within a facility is transit inventory.

CRITERIA FOR JUDGING THE INVENTORY SYSTEM:

While the overall objective of the inventory system is to minimize the cost to the firm the risk level acceptable to the management, the more proximate criteria for judging the inventory are: Comprehensibility Adaptability Timeline

Comprehensibility
Inventory system range from the utterly simple to the complex ones. Irrespective of how simple or how simple or how complex a system is , regardless of whether it is automated or manual, it should be clearly understood by all affected parties . The system must be properly explained to all concerned people so that its purpose, logic and rationale are transparent. This generates enthusiasm for the system and enhances its credibility. Otherwise it is likely to be perceived as a mysterious Black Box of dubious value.

Adaptability
The question raised in this context are : 1. Is the system change? 2. Can new products, new situation and new requirements be handled by the system? A certain degree of flexibility and adaptability must be desired into the system to make it versatile. Of course this cannot be and this should not be carried too far . The system must not provide for every possible and imaginable contingency . If it is developed with this real, it is likely to be a complex monstrosity. Remember the caveat that the design of any system should ordinarily take care of about 90% of the cases, leaving the balance 10% to be handled by hand.

Timeline
Inventories may suffer loss in value on account of a variety of factories. The more common sources of value decline are: 1. Obsolescence caused by changes in technology & shifts in consumer taste. 2. Physical deterioration with the passage of time. 3. Price fluctuation because of inherent volatility of certain commodities The inventory system should be capable of inducing timely action. It should provide adequate forewarning which triggers appropriate corrective step.

Inventory flow chart :

Vehicle report on gate and hand over invoice to security

Check and prepare the LECI with RFID by security for vehicle entry

Park the vehicle on parking area

Made the GRN by CRDO

Released the RFID by security person for vehicle in plant

Unloading the material vehicle & checked the quantity as per invoice quantity by store person

Made the mb02 by store person

Store acknowledgement

Vehicle will go to out gate

Hand over RFID token and LECI to security by driver

Out the RFID in system

Exit the vehicle

INVENTORY VALUATION IN TATA MOTORS LTD.:

Valuation of WIP Auto:-Inventory should be valued at full absorption cost basis, which comprises of cost of purchase INCL.MASOP changes for raw material and cost of conversion Cost of conversion comprises of direct cost and overheads i.e., variable & fixed such as indirect material, tools, salaries etc. The absorption of cost of conversion should be based on burden centre rate of group of cost centres hours required for completion of production activity. The hike/dehike% should be applied at each period as inventory valued at standard cost. First-in, First-out (FIFO):- Inventory valuation assumes that the first goods purchased are the first to be used or sold regardless of the actual timing of their use or sale. This method is most closely tied to actual physical flow of goods in inventory.

INVENTORY CONTROL IN TATA MOTORS:

From this we can gather that material management includes some important function: Coding of material Purchase Department Procurement of material Receiving of material Storing of material Issue of material

MATERIAL CODING As we have discussed that the stock of so many items is maintained by the unit which are related with different plants, department. So here it is difficult to keep remember about each and every item of stock and detail like, it is related with which department or plant and its main category etc. So for removing this difficulty, Tata motors using coding system .In this system a twelve digits code assigned to each item of inventory. Every item maintained by its code in the store as well as in the store accounting section. The item / material codes remain same in store and accounting section whenever a transaction is done in store for the inventories the full detail of that transaction is send to the store accounting section also, because the computers of stores and accounting section are connected in local area network.(LAN) In this way it is very comfortable task to maintain the inventories on the inventory software with the help of material coding. Whenever any transaction (receipt, issue or return) of material is done by store section the information of the same is send to store.

 PURCHASE DEPARTMENT The purchase department, in any organization, is at the interface of internal and external environment. This department is responsible for purchase of various machines, raw materials and other item required by the organization. Purchase function from integral part of material management and it plays very important function as it is through this procedure that the right amount of material required is delivered at the right place and at the right time so that the process of production or manufacturing goes on unhampered.

There is a distinct difference between buying and purchasing . The latter involving knowledge of various vendors, their prices, comparison of the prices, actual buying, after sale service and follow-up, besides payment terms etc. The purchase department of an organization must know following things: Knowledge of the materials Source of material- vendors Reasonable price The most important things is that indentor must trust the vendor.

PROCUREMENT PROCESS The whole procedure of procurement divided in some steps, which are: 1:-Material master: - Material master are created when a material required is not defined in the material master. Control of master data depends largely on how each company sets up its Organizational levels centralized or decentralized. Some material data is valid for all organization levels while other data is valid only at certain levels.

2 :-Vendor master :- A Vendor master (Purchasing) is required to permit all external procurement transactions in the system. Typically, the purchasing organization is only authorized to create a Purchasing view, which allows RFQs Quotations, Purchase Orders and Agreements (Contracts) but prevents the payment of the invoice. Finance or Payables maintains the Accounting view to satisfy most audit requirements that call for a separation of duties. This reduces the likelihood of duplicate vendor masters. 3:-Purchase requisition: - A requisition defines the need for a material or service. It authorizes the purchasing department to purchase materials in specific quantities within a specified time frame. It is an internal document and is not used outside of the company. Requisitions can be created for materials with a material master. When creating the requisition with a material master, The part number must be referenced, and a flag must be placed in the account assignment field. This will bring up a pop-up window to assign the material to an account. In Purchasing, the RFQ and the quotation form a single document. Prices and conditions quoted by vendors are entered in the original RFQ. If you have issued an RFQ to several vendors, you can have the system determine the most favorable quotation submitted and automatically generates letters of rejection to the unsuccessful bidders. 4:-Release of purchase requisition: - Business needs should be defined through a requisition; a contract establishes a long-term agreement with a vendor to supply a material or services. Contracts may either be value contracts or quantity contracts. A quantity contact specifies a ceiling of goods or services that the vender will provide to us. Contracts do not specify delivery dates; this is determined when release orders are issued against the contract.

The next step:I) II) III) IV) V) VI) VII) VIII) Request for quotation Maintain quotation Price comparison Contact creation and release Purchase order creation or release Scheduling agreement creation Delivery schedule Printing / re- printing of PO / SA

RECEIVING OF MATERIALS Vehicle Registration at the time of Inward (exit) Goods receipt against PO Goods receipt against inbound delivery

STORE ACKNOWLEDEMENT Tata motors uses 5s technique for its inventory maintenance in store. 5S is a technique that results in a well-organized workplace complete with visual controls and order. Its an environment that has a place for everything and everything in its place, when you need it.

5S is the key first step in workplace improvement. Sort Remove from the workplace all items that are not needed for current production (or office) operation. Sorting means leaving only the bare necessities When in doubt, throw it away Set in Order Arranging needed items so that they are readily accessible and labeled so that anyone can find them or put them away. Shine Sweep and clean the work area. The key purpose is to keep everything in top condition so that when someone needs to use something, it is ready to be used. Cleaning a work area produces and opportunity to visually inspect equipment, tooling, materials and work conditions. Standardize Define what the normal condition of the work area. Define how to correct abnormal conditions. The standard should be easily understood and easy to communicate (i.e. visual controls). Sustain Implementing solutions to address the root causes of work area organization issues. All employees must be properly trained and use visual management techniques.

Function of Store Accounting Section The section dealing with accounting of store in the finance department shall have following function:-

Accounting of receipts, issues, return and transfer of material. Accounting of imported material for capital works and operation. Associating with stores section for stock verification. Valuation of stores items should be done on weighted average basis.

Issue of material The accepted & stock charged material is to user department against Store Issue Voucher (SIV) issue to contract through SIV.The authority of signing the SIV is given to competent person of indentor depart And this sign checked by the store section before issue and permanent employee of Tata motors shall sign it at the time of receipt of material by the indentor department. All issue of material is made on First in First out basis. o Return of material: - The user department and contractor return the unused material to stores through internal store return (ISRV) voucher and it posted in the computer Kardex after receiving material. Copy of ISRV sent to the Store Account Section for adjustment. o Transfer of material: - In case of material issue from store to line. The Stock Transfer Voucher (STV) is made by store department. `

REJECTION HANDLING :

There are two types of rejection in Tata motors Material damage Cross failure

Material damage:Auto item

Direct on line

Under quality (quality will be verified before issue to line)

No Supplier

Yes Line

Quality person will book the rejection either full or semi quantity Movement 122 SAP print complaint Store along with material

Cross Failure:In this tool of material handling Tata motors create a team that is called cross functional team. It is the combination of the person of different department. Who are working together for rejection material handling. Material would be found defected by three stage of material movement: Process Supplier Store

When material found defected during in process , supplying process and the storing process then material send to the scrap yard and make a transaction movement 122 in system.

Inward and outward movement of material in SAP:Inward 101:- GR 102:- GR cancellation Outward 122:- Return to vendor 261:- Consumption 551:-Scrap by TML 951:-Scrap on vendor

INVENTORY CONTOL TECHNIQUES:

Determination and maintenance of optimum inventory level, helps to maximize owners wealth. Inventory management problems can be handled by some techniques, which are: ABC analysis KANBAN System Just In Time (JIT) Safety Stock

ABC ANALYSIS: It is very effective and useful tool for classifying, monitoring and control of inventories. The firm should not keep same degree of control on all the items of inventory. It is also known as Selective Inventory Control. According to this technique the task of inventory management is proper classification of all inventory items in to three categories namely A, B, and C category. The ideal categorization of inventory items is shown in table as follows: CATEGORY A B C TOTAL NO. OF ITEMS (%) 15 30 55 100 ITEMS VALUE (%) 70 20 10 100

In Tata Motors we can classify inventory according to ABC classification. ABC has two methods for classification: Value of per item Value with consumption

A ITEMS Small in number, but consume large amount of resources Must have: Tight control Rigid estimate of requirements Strict & closer watch Low safety stocks

Managed by top management

B ITEM Intermediate. Must have: Moderate control Purchase based on rigid requirements Reasonably strict watch & control Moderate safety stocks Managed by middle level management

C ITEMS Larger in number, but consume lesser amount of resources. Must have:

 Ordinary control measures Purchase based on usage estimates High safety stocks ABC analysis does not stress on items those are less costly but may be vital

KANBAN System: KANBAN process is a tool to control inventory. It is a process which demands lot of discipline and sincerity. WHAT IS KANBAN? Kan Sign Ban Board So, Sign Board A signaling device that gives authorization and instruction for the production or withdrawal of item in a pull system It is based on 2-Bin system

Step # 1 - Both the bins are full at TML and Supplier, Cards are in place

Step # 2 - Line feeding trolley empties the bin

Step # 3 - Line feeder notices one empty bin during his scheduled round of stores. Bin 2 is in use and sustains the line.

Step # 4 - Line feeder takes the card of the empty bin and puts on KANBAN board as a signal. System mail generated to the supplier informing empty bin

Step # 5 - Supplier sends one bin quantity by empting one bin at his end. Material is received at store and send to desired location

Step # 6 - Line feeder keeps the KANBAN card back to the bin signaling that the bin is full. Supplier takes up one bin for production.

Step # 7 - In continuity the 2nd bin gets emptied and the process is repeated. Supplier uses 2nd Bin to feed TML while production for 1st bin is ongoing.

Advantage of KANBAN Less inventory No line stoppage because of KANBAN material Information flow is fast from buyer to supplier Minimizes waste and overproduction

Tata motors ltd. uses KANBAN system for inventory control. KANBAN process is a tool to control inventory

 JUST IN TIME (JIT):

According to JIT system, all components and other inventory items arrive as and when required (i.e. just before the start of an operation). Item are picked up by the worker and fed directly in to the production process.

Benefits of JIT: Uniform workstation loads Small lot sizes Closer supplier ties Maintenance of high quality Quick and economic setups Flexible facilities and multi-skilled workforce Continuous improvement

 SAFETY STOCK:
Safety stock implies extra inventories that can be drawn down when actual lead time and usage rate are greater than expected. It means Prediction of average daily usage and lead-time is difficult. Raw materials may vary from day-to-day or from week-to-week, it is in the case of lead-time also. Lead-time may be delayed, if the usage increases then the company faces problem of stock out. To avoid stock out firm may require to maintain safety stock. FORMULA:Re-order point = Lead time (in days)*Average usage+ Safety stock

Analysis of Unused Inventory:

Analysis is done for the unused materials of plants 3100, 3103, 3154, 3158 and 3159 for 1 to 5 years. Materials of plants 3103, 3154, 3158 and 3159 are not used in BOM and non auto parts. Materials of plant 3100 are used in BOM and direct vehicle. Data is collected for all parts and following data are required for analysis: At first to find out whether materials are bulk or BOM. If material is Bulk then no need to do analysis on bulk materials. Take the data of start receiving date (SAP trans code: 101, 102), last receiving date (SAP trans code: 101, 102), start consumption date (SAP trans code: 261, 262 for auto parts and 201, 202 for non auto parts), last consumption date (SAP trans code: 261, 262 for auto parts and 201, 202 for non auto parts),, total remaining stock, total stock value and in which location material is received. SAP transaction codes mb51, sq01, mm03 are used to find out whether material is bulk or not, material total stock value and material location. Arrange all materials in decreasing order of stock value from year 1 to 5 years and analyze whether material is a part of BOM or not. If material is a part of BOM then find out in which BOM material is used and what are requirement quantity and withdraw quantity (SAP transaction code: mcre). Check BOM display by using SAP transaction code cs11 and check whether material is present in BOM since starting or from now.

 If material is not entered in SAP then find out alternative for unused material (SAP transaction code: sq01-> pp->ALTMET).

After analyzing inventory, It can be concluded that if material is still in ware houses and its stock value is very high, then it can be used as a bulk material or alternative material. Sometimes it happens that material is already used by forceful consumption or alternative but not entered record in SAP or data is entered at a later stages, it can create a big problem for the firm. Material is not consumed in system and can be defined as alternative or bulk in system, can be used as a MASOP supplier.

INVENTORY LEVEL AS ON 31ST MARCH 2013: Inventory level

12 4 5 10 Tools Spare materials 60 18 Indirect materials WIP Finished goods Import materials Raw materials

TABLE OF INVENTORY LEVEL AS ON 31st MARCH 2013: INVENTORY Tools Indirect Materials Finished Goods Raw Materials PERCENTAGE 1 4 10 60 INVENTORY Spare Materials WIP Import Materials PERCENTAGE 2 5 18

INVENTORY TURNOVER:

Inventory Turnover Ratio:

Net Sales

Average Inventory

(For the year ended 2012-2013)

Net Sales = 9015.47 Crores Average Inventory = 251 Crores Inventory turnover ratio: = 9015.47 = 35 Days of holding inventory: = 365 35 =10.42 251

(For the year ended 2011-2012)

Net Sales = 6613.31 Crores Average Inventory = 331 Crores Inventory turnover ratio: = 6613.31 331 = 19.97 Days holding inventory: = 365 19.97 =18.33

INVENTORY TURNOVER RATIO:

35

30

25

20

15

10

0 2012-2013 2011-2012

PROCUREMENT ITEMS AT VENDOR PARK AND OUTSIDE VENDOR PARK:

Chart Title
100 90 80 70 60 50 40 30 20 10 0 ACE/Magic Super ACE/ venture vendor park Iris/Zip outside vendor park

TABLE OF PROCUREMENT ITEMS AT VENDOR PARK AND OUTSIDE VENDOR PARK: Procurement Items ACE/Magic Super ACE/ Venture Iris/Zip Vendor Park 95 60 70 Outside Vendor Park 5 40 30

IMPORTANT CONCEPT OF EOQ IN INVENTORY MANAGEMENT:

EOQ (Economic Order Quantity) refers to that level of inventory at which the total cost of inventory is minimum. EOQ is also known as Economic Lot Size (ELS). Economic order quantity is the one for which the aggregate of the costs of Ordering the inventory and the costs of carrying the inventory is at minimum. Or it can be said that EOQ is essentially an accounting formula that determines the point at which the combination of order costs and inventory carrying costs are the least.

Assumptions of EOQ model: The following assumptions are implied in the calculation of EOQ: Demand for the product is constant and uniform throughout the period. Lead time (time from ordering to receipt) is constant. Price per unit of product is constant. Inventory holding cost is based on average inventory. Ordering costs are constant. All demands for the product will be satisfied (no back orders are allowed).

EOQ FORMULA:

EOQ =

2(Annual usage in units) (Order cost) (Annual carrying cost per unit)

Limitations Of EOQ:
Apart from the above application it has its own limitations that are mainly due to restrictive nature of assumptions on which it is based. Constant Usage: This may not e possible to predict, if usage varies unpredictably, as it often does, no formula will work well. Faulty basic information: Ordering and carrying costs is the base for EOQ calculation. It assumes that ordering cost is constant per order is fixed, but actually varies from commodity to commodity. Carrying cost also can vary with the companys opportunity cost of capital. Costly Calculations: In many cases, cost estimation, cost of possession and acquisition and calculating EOQ exceeds the savings made by buying that quantity.

USES OF EOQ:
EOQ is useful to decide how many inventories should be added when inventory is replenished. It is useful in deciding lot sizes, which will reduce both ordering and carrying costs. By using EOQ the optimum inventory level can be maintained, which will reduce the investment in inventories.

PRODUCTION PLANNING AND CONTROL:

An understanding of Production Control concept MES system is to help production eliminate any quality issues. All data related to quality is to be stored in data base. Delivery control is realized by MES (POP) system.

Integrated Production PlanThe dealers from across India supply forecast and sales related data to the sales and marketing department. This information is then given to the central planning department. The role of CPD is consolidating the demand and prepares an annual plan of production (plant wise). Further CPD gives the semiannual plan and 3M (1M firm & 2M) plan to production planning and control. Production planning and production sequencing support and help realized leveled production. Production volume plans-supplier production starts early to keep delivery on time. Production plan simulation- Ahead production order to plant to prevent delay Marketing gives order two weeks before production 5% total change occurs in 30% volume of high class model 29260 vehicles to be stocked in PDI. 24 days stock as per simulation The capability of make to order for special vehicles If seasonal fluctuation are included in marketing order then build ahead order may not be required

 Real time collection of shop floor data like product tracking, lot, serial # of critical component, inspection, torque data, andon data, material receipt and delivery data and cycle time data. Production POP system- Actual status in TCF and equipment error condition to be shown Further suggestion- weekly plan is better then 10 days plan because working day is constant Production volume is constant in 1 month. Adjustment of monthly volume must be based on the forecast. In case to exceed full capacity. 20-30 cars batch size for small car in paint shop (depending on color buffer) Cost of waiting (for supplier) in case client line stops is borne by supplier himself. It is included as allowance in his part cost 15-30 min buffer storage for body shop, 5-7min buffer for TCF Inventory tracking to be done with help of bar codes. Supplier gets the parts along with bar codes and documents. Damaged parts to be returned to supplier with damaged tag and documents through quality control section. Make a policy for procedure, penalty sharing incase of line side rejection & returned to supplier, fitted in vehicle already but separated at end of line. Damage bin/reject parts area where all damaged and rejected parts can be accounted for Small car : Normal car with out variants-order to delivery in two weeks Engineering change can be by any of the design, QC, purchasing, production, mfg engineering or logistics. Notification of engineering change to be given by design to other stakeholders Scope of 3PL-3PL responsible for delivering parts to the OEM document. They are responsible for the delicate parts like glass and also conduct minor inspection for transportation damages. Product ordering system to receive input from CPD, POS will then give information to production planning.

RECONCILIATION AND ADJUSTMENT:

After each physical verification of movable asset & inventories the discrepancies are to be reconciled by the custodians of assets \ inventories and suitable adjustment action has to be taken consultation with the local Finance Department for the approval of competent authority preferable with in the financial year in the physical verification has been conducted or before closing of account of that financial year. It is desirable to complete the physical verification work by March every year so that reconciliation / adjustment action can be completed within the year itself.

FINDINGS:
The techniques which are used for inventory control in TATA Motors Ltd. are ABC analysis, KANBAN system, JIT, Safety Stock. The criteria for judging the inventory in TATA Motors Ltd. are Comprehensibility, Adaptability, Timeline. Firm is maintaining sufficient stock of raw materials and supplies to facilitate uninterrupted production. TATA Motors Ltd. is maintaining an investments in inventory which implies that maintaining an inventory involves cost, such that smaller the inventory, the lower the cost. Firm is maintaining sufficient finished goods inventory, to meet the demand for product by efficiently organizing the firms production and sales operation.

RECOMMENDATIONS:
o It may suggest that proper reorder level for consumables and cutting tools may be maintained so that, the company can prevents the over stock or stock out level. o As it was understood from the study that the company maintaining safety stock which is not adequate to certain materials. So to avoid stock out the safety stock may be maintained at optimum level. o To reduce the inventory cost such as carrying cost, ordering cost it is suggested that the company can apply EOQ model to all the materials, consumables and tools to the extent possible. o In global competition, the company may follow the new technique like just in time (JIT) by adopting flexible manufacturing system (FMS) to control inventories efficiently in future. o The reorder level should be placed at the right time, based on the raw material availability in the store. o In order to reduce the expenditure and to maintain inventories at optimum level, it is necessary to implement proper planning, budgeting and coordination among all functional departments. o The review can be made to all the material available in the store to avoid the unnecessary dumping of materials, so the company can save the storage cost and space. o The production department may introduce the new technique called vendor quality management to ensure the standardized quality in the finished product. The concept is adopted in all leading companies. o To reduce the lead time and to save ordering cost it may be suggested to localize certain important items instead of importing from other country. This will give a chance for increasing employment opportunities to our people. o To control the job work items, it is suggested to convert such item as bought out items in future.

CONCLUSION:
Inventory control means the availability of right materials of right quantities coordinated with lead time. Each and every component of inventory is important and managing the inventories to keep in an optimum level is a must. It might seen axiomatic that inventory control is efficient as long as inventory level is going down. But the fact is that is if inventories are minimized with guaranteeing adequate operations, inventories have been mismanaged rather than controlled efficiently. Thus, the two basic object of inventory control appear to be conflicting in nature. Inventories should increase or decrease in amount or time as related to sales requirement and production schedules. In most inventories a small population of item accounts for a very substantial usage (in terms of monetary value and annual consumption) and a large proportion of item accounts for a small usage. ABC analysis based on the empirical reality advocates in essence a selective approach to inventory control, which calls for a greater concentration of efforts on inventory item accounting for the bulk of usage value. Responsibility for control of inventories is that of the top management, though Decision in this regard might will be based upon the combined judgment of the production manager, controller, the sales manager and the purchasing manager. This is desired in view of the financial consideration involved in the problem and also because of need for different department. While decision relating to inventories are primarily taken by executives in production, purchasing and marketing department ,the finance manager should try to ensure that inventories are properly monitored and controlled. He must emphasis the financial point of view and intiate programs with participation and involvement of others for efficient working of the company.

ANNEXURE-1:

FINANCIAL PRFORMANCE SUMMARY: Company

(Standalone)
FY (20112012)
Gross revenue Net revenue (excluding excise duty) Total expenditure Operating profit Other income Profit before interest, depreciation, amortization, Exceptional item and tax Finance cost Cash profit Depreciation, amortization and product Development / engineering expenses Profit for the year before exceptional items & tax Exceptional items - loss/(gain) 59,220.94 54,306.56 49,894.76 4,411.80 574.08 4,985.88

Tata motors group

(Consolidated)
FY (20112012)
170,670.58 165,654.49 141,954.02 23,700.47 661.77 24,362.24

FY (20102011)
51,183.95 47,088.44 42,282.07 4,806.37 422.97 5,229.34

FY (20102011)
126,414.24 122,127.92 104,312.89 17,815.03 429.46 18,244.49

1,218.62 3,767.26 1,840.99

1,383.70 3,845.64 1,502.00

2,982.22 21,380.02 7,014.61

2,385.27 15,859.22 5,653.06

1,926.27

2,343.64

14,365.41

10,206.16

585.24

147.12

831.54

(231.01)

Profit before tax Tax expense/(credit) Profit after tax Share of minority interest and share of profit of associates(net) Profit for the year

1,341.03 98.80 1,242.23

2,196.52 384.70 1,811.82

13,533.87 (40.04) 13,573.91 57.41

10,437.17 1,216.38 9,220.79 (52.83)

1,242.23

1,811.82

13,516.50

9,273.62

Appropriations
Profit for the year 1,242.23 1,811.82 1,934.13 13,516.50 6,461.49 9,273.62 (1,017.85)

Balance brought forward 2,078.92 from previous year profit/(loss) Amount available for 3,321.15 appropriations Less: appropriations Debenture Redemption Reserve General Reserve Other Reserves Dividend (including dividend distribution tax) Balance carried to Balance Sheet

3,745.95

19,977.99

8,255.77

70.00
125.00

200.00

70.00
158.03 65.38 1,488.62

228.78 84.20 1,481.30

1,462.24

1,467.03

1,663.91

2,078.92

18,195.96

6,461.49

BIBLIOGRAPHY:

www.mytatamotors.com www.tatamotors.com

APPENDIX:
INVENTORY MANAGEMENT Maintaining stock by value or by quantity is called inventory. The total inventory management deals with the goods movement of the material.

Goods movement: It is a process in which transaction resulting change in stocks. It is further sub-divided into three categories 1. Goods Receipt (GR) 2. Goods Issue (GI) 3. Transfer Posting (TP) Goods Receipt (GR): - It is a goods movement in which receipt of goods is posted for vendor or for production. A GR posted in the system will leads to increase in stock. No Concept of Price or value Goods Issue (GI): - It is goods movement in which material withdrawal is posted for consumption or for customer. A GI posted in system will leads to decrease in stock. Stock Transfer (ST): - It is method of removal of material from one location and transferring it to another location. This process is performed between two plants and two storage locations.

Transfer Posting (TP): - It is a general term of stock transfer that changes the stock type or stock categories. The difference between transfer posting and stock transfer is: TP is logical stock transfer and ST is a physical stock transfer. Movement Type: - It is a three-digit code, which plays a role of important control function in inventory management. It acts as a central role in automatic account determination. It determines which stock account or consumption account is updated financial accounting. Reservation: - It stores requisition created from particular cost center to particular department for issuing the material reservation posted in the system. It leads to decrease stock. Stock Types: - The different stock types are: Unrestricted use stock Quality inspection stock Blocked stock Warehouse stock

Transaction code: To Create GR MIGO To Create GI - MB1A For Transfer Posting - MB1B To display Material/GR document MB03 To create reservations - MB21, MB22, MB23 To See Stock Overview MMBE To enter Other GR - MB1C

When GR is posted in the system Material document is created - MB03 Accounting Document is generated - MB03 MMR updated - MM02, MM03 PO history updated - ME23N

Movement Types Movement Types under GR: - 101, 331,333,335,501,503,505,551,553,555, 561,351 (For all Movement Types there is a reversal e.g. 101 has 102. Note: No reversal for 121) Movement Types under GI: - 201, 331,333,335,551,553,555 Transfer Posting It is performed in three ways TP B/W Plant to Plant TP B/W Storage Location to Storage Location TP B/W Stock to Stock Movement Types under TP B/W Plant to Plant 301 - 1 step 303 & 305 - 2 step Movement Type under TP B/W Storage location to Storage Location 311 - 1 step 313 & 315 - 2 step

Movement Type under TP B/W stock to stock 321, 323, 325, 343,349 To Cancel the GR Movement type 102 Return delivery to vendor movement type 122 & T Code MIGO Transfer Posting Stock to Stock From Blocked stock to Quality Inspection T Code MB1B & Movement Type 349 From Blocked stock to Unrestricted Stock T Code MB1B & Movement Type 343 From Quality Inspection to Unrestricted Stock T Code MB1B & Movement Type 321 Transfer Posting from Plant to Plant For One Step: Movement Type 301 For Two Steps: Movement Type 303 & 305 After posting stock will display in Stock in Transit (Plant) To receive material by receiving Plant Movement Type 305 Transfer Posting B/W Storage Location to Storage Location Under One Plant B/W two Storage Locations Movement Type 311 Back to Parent storage Location Movement Type 313 (It Show stock in transfer) use Movement type 315 at Parent storage location To create Goods Issue (GI) T Code MB1A & Movement Type 201 To Create Reservations T Code MB21, MB22 & MB23

GR without PO Movement type 501 & T Code MB1C, Select others instead Purchase order, Enter Material, Quantity, Plant, Storage Location Press Enter Partner Option will be visible (Vendor) Save it Invoice: - Invoice is a document, which is issued to a buyer (Company) from the supplier (vendor) for the payment. The following information is maintained in invoice Invoice date, Posting date, Invoice ref number, tax amount, amount, tax code, terms of payments, vendor address, banking accounting information etc.

LECI: - Lorry Entry Coupon Issue RFID: - Radio Frequency Identification Device GRN: - Goods Receipt Number CRDO: - Central Record Of Documentation Office MASOP: - Material Accounting System at Outside Party FLG: - Factory Law Group MES: - Manufacturing Execution systems are computerized systems used in manufacturing. MES can provide the right information at the right time and show the manufacturing decision maker. POP: - Post Office Protocol used to restore e-mail from a mail server. CPD: - Central Planning Department PDI: - Pre Delivery Inspection OEM: - Original Equipment Manufacturer QC: - Quality control

SAP: - System application and Product ERP: - Enterprise Resource Planning

SAP Transaction Codes:

SPRO MM01 MM02 MM03 DEFINE ITEM CATEGORY CREATE MATERIAL MODIFY MATERIAL DISPLAY MATERIAL

MMS1 CREATE MATERIAL MASTER MMS2 MMS3 MB1C MMPI CHANGE MATERIAL MASTER DISPLAY MATERIAL MASTER MAINTAIN STOCK INITIALISE PERIOD FOR MASTER MATERIAL RECORDFROM CO CODE

MMBE CREATE STOCK MM60 XD01 XD02 XD03 VA01 VA02 VA03 VA11 VA12 VA13 VA21 VA22 VA23 MATERIAL LIST CREATE CUSTOMER MODIFY CUSTOMER DISPLAY CUSTOMER CREATE ORDER CHANGE ORDER DISPLAY ORDER CREATE INQUIRY CHANGE INQUIRY DISPLAY INQUIRY CREATE QUOTATION CHANGE QUOTATION DISPLAY QUOTATION

VD02 VD03 VD04 VD06 VK11 VK0A VOK0 VOR1 VOR2 VOV6 VOV8

CHANGE SALES PROSPECT DISPLAY SALES PROSPECT DISPLAY CHANGES FLAG FOR DELETION MAINTAINING PRICING ASSIGN G/L ACCOUNT GENERAL PRICING DEF COMMON DIST CHANEL DEF COMMON DIV DEFINE SCHEDULE LINES DEFINE SALES DOC TYPE

VOFA CREATE/OR CHANGE BILLING TYPES CONFIGURATION V129 V149 CA01 CA02 CA03 CS01 CS02 CS03 OVK1 OVK3 OVK4 OVR6 OVS9 OVRA OVR F OVXC OVX6 OVL DEFINE INCOMPLETENESS SCHEMAS FOR FOREIGN TRADE ASSIGN INCOMPLETENESS SCHEMAS FOR COUNTRY CODE CREATE ROUTING EDIT ROUTING DISPLAY ROUTING CREATE BOM CHANGE BOM DISPLAY BOM DEFINE TAX DET RULES DEF TAX REL OF MASTER RECORDS CUSTOMER TAXES DEF TAX REL OF MASTER RECORDS MATERIAL TAXES DEF LEGAL STATUSES DEF CUSTOMER GRP MAINT STATISTICS GRPS FOR CUSTOMERS MAINT STATISTICS GRPS FOR MATERIAL ASSIGN SHIIPING POINT TO PLANT ASSIGN PLANT TO S.O AND DIST CHANEL DEFINE DELIVERY TYPE

OVSG OVLH OVXM OVXJ OMS2 OVLP OX10 O/S2 O/S1 OBB8 OKKP VB01 VB02 VB03 VB31 VB32 VB33 VB21 VB22 VB23 VB25 VB35 VKA4 VKA5 VKA6 VC/1 VC/2 VDH2 VF01 VF02

DEFINE INCOTERMS DEFINE ROUTES ASSIGN SALES OFF TO SALES AREA ASSIGN SALES GRP TO SALES OFFICE MATERAIL UPDATE DEFINE ITEM CATEGORY FOR DELIVERY ASSIGN DEL PLANTS FOR TAX DET DEFINE SERIAL NO PROFILE DEFINE CENTRAL CONTROL PARAMETERS FOR SR NO DEFINE TERMS OF PAYMENT ACTIVATION OF COMPONENETS CREATE REBATE AGGREMENTS CHANGE REBATE AGREMENT DISPLAY REBATE AGGREMENT CREATE PROMOTION CHANGE PROMOTION DISPLAY PROMOTION CREATE SALES DEAL CHANGE SALES DEAL DISPLAY SALES DEAL LIST OF SALES DEAL PROMOTION LIST CREATE ARCHIVE ADMINISTRATION DEL ARCHIVE ADMINISTRATION RELOAD ARCHIVE ADMINISTRATION CUSTOMER LIST CREATE SALES SUMMARY DISPLAY CUSTOMER HIERARCHY CREATE PROFORMA INVOICE CHANGE PROFORMA INVOICE

VF03 VF07 VF11 VFX3 VFRB VF04 VF06 VF21 VF22 VF2 3 VF44 VF45 VF46 VF31 VFP1 VARR

DISPLAYPROFORMA INVOICE DISPLAY FROM ARCHIVE CANCEL BILL BLOCKED BILLING DOC RETRO BILLING MAINTAIN BILL DUE LIST BACKGROUND PROCESSING CREATE INVOICE LIST CHANGE INVOICE LIST DISPLAY INVOICE LIST MAIN REVENUE LIST REVENUE REPORTS MAINT CANCELLATION LIST ISSUE BILLING DOC SET BILLING DATE ARCHIVE DOCUMENTS

VL01N CREATE DELIVERY VL02N TO CHANGE DELIVERY WHICH IS ALREADY CREATED VL03N DISPLAY DELIVERY V/08 V/30 FD32 TO CHANGE CONDITION (PR PROCEDURE) DEFINE PRINT PARAMETERS SETTING CREDIT LIMIT FOR CUSTOMER

/NSM12 TO REMOVE LOCK ENTRY ND59 VB0F LIST CUSTOMER MATERIAL INFO UPDATE BILL DOC