1

Marathwada Shikshan Prasarak Mandal’s

Deogiri Institute of Engineering and Management Studies, Aurangabad

A

In Plant Training Project Report

At

“AKARTOOLS LTD.”

Submitted by

Mr. (Shrikant B. Ragade)

Roll no. HR-32

MBA III semester

Batch 2011-2012

In partial fulfillment of the completion of the course of

Dr.Babasaheb Ambedkar Marathwada University, Aurangabad

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Marathwada Shikshan Prasarak Mandal’s

Deogiri Institute of Engineering and Management Studies, Aurangabad

A

In Plant Training Project Report

At

“AKAR TOOLS LTD.”

Submitted by

Mr. (Shrikant B. Ragade)

Roll no. HR-32

MBA III semester

Batch 2011-2012

In partial fulfillment of the completion of the course of

Dr.Babasaheb Ambedkar Marathwada University, Aurangabad

Project guide Prof Vaishali Raodeo Dr.Ulhas Shiurkar

Prof. Rushina Khan HoD Director

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Acknowledgement

I, Shrikant B. Ragade hereby thank my project guide Mr. Rahul Chankapure of

AKAR TOOLS LTD for allowing me to complete the In Plant Training Project.

I also thank Prof. Rushina khan , Prof. Vaishali Raodeo (HoD) and Dr.Ulhas

Shiurkar (Director), Deogiri Institute of Management Studies, Aurangabad for

encouraging and guiding me through the training.

Mr. Shrikant B. Ragade.

Roll no. HR-32

MBA III semester

Batch 2012 - 2013

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Certificate

This is to Certify that, Shrikant B. Ragade, a student of Deogiri Institute

of Engineering and Management Studies, Aurangabad Batch 2012 -

2013, state that he has duly completed the In Plant Training Project

(CP-304). The college confirms that the work is original and has not

been copied from any source whatsoever.

Project guide Prof Vaishali Raodeo Dr.Ulhas Shiurkar

Prof. Rushina Khan HoD Director

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Certificate from the Company

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TABLE OF CONTENTS

Sr. No. Particulars Page No.

1 Profile of the company 8

2 Objective & Scope of the project 11

3 Vision mission of the company 13

4 Products of the company 14

5 Research methodology 19

6 Study of various department 23

7 Function of HRM 29

8 SWOT analysis 36

9 Conclusion 37

10 Bibliography 38

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Objective of study:

To study the functions of various department of a company.

To analyze the current working and performance of a company.

To study various method applied by company to improve quality and quality

control.

To study various technique use by company for development of company

and employees.

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j

Unit-1 E5, Waluj, MIDC Aurangabad - 431136

Call: + (91)-(240)-6647300

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Date of Establishment 1989

Revenue29.4076 ( USD in Millions )

Market Cap 151.84124075 ( Rs. in Millions )

Corporate Address Abhay Steel House,304,Baroda Street Carnac BunderMumbai-

400009,Maharashtra.

Akar tools ltd

Company overview

Akar Tools Ltd. is a publicly quoted firm engaged in the manufacture and

marketing of hi-precision engineered hand tools. It operates as a part of the R. L.

Group of Industries as its forward integrated enterprise. The company’s business

activities are accredited with the ISO 9001-2000 quality standards. Akar Tools was

incorporated in 1989 and has its factory located Waluj near Aurangabad,

Maharashtra in India. The company’s common shares are listed on the Bombay

Stock Exchange with stock code 530621.

Some of the company’s products are exported to Europe, the United States of

America, Japan, Australia and many other countries around the world. Its raw

materials are sourced from R. L. Steels Ltd. Under Akar Tools’ spanners and

wrenches segment are products such as open-ended jaw, ring and combination

spanners. It has also a portfolio of automotive and construction tools that include

vices, chisels, clamps, hacksaws, lubricants, tubular box spanners, bearing pullers

and punches, wrecking bar and nail pullers, and pipe, wheel and filter wrenches.

The electrical and electronic division offers pliers, screw drivers, and electronic

and surgical tools. Its carpentry and striking segment has tools comprising of

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pincers and tin cutters, planes, and T-bar cramps and saw. Further, Akra has a wide

range of leather tool aprons and packaging sets containing various tools.

Quality Policy

STC shall provide "Systematic", "Trustworthy", "Customized", surface

transportation services in India through its extensive network and a team of

professionals with a strong WILL TO SERVE.

It shall be the endeavor of each one of us to achieve planned objectives and targets

of the organization in an efficient manner. We will continue to work together and

adopt changes that shall help us to improve our systems, practices and business

performance.

We shall be committed to comply with the requirements of international standards

on quality management system and continually improve its effectiveness in its true

spirits

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Business Summary

The Company’s activities are manufacturing carpenter/striking tools, tool aprons,

electrical tools, spanners/wrenches & construction/automotive tools.

Description and history

The Company’s activities are manufacturing carpenter/striking tools, tool aprons,

electrical tools, spanners, wrenches & construction automotive tools.

History

Akar Tools Ltd., an ISO 9001-2000 company, is the forward integrated enterprise

of the R. L. Group of Industries. Situated at Waluj near Aurangabad , Maharashtra,

Akar Tools Ltd. manufactures and exports hi-quality precision engineered hand

tools to Europe, USA, Japan, Australia and many other countries worldwide.

Akar Tools Ltd.'s commitment to quality is manifested in the GS certification from

TUV (Rheinland) Safety Gmbh, Germany, awarded for its range of spanners

besides the many other citations, awards and certificates it has received for

excellence in producing quality products.

Akar Tools Ltd.'s sophisticated and state-of-the-art production facilities operates

round the clock with a dedicated workforce of over 400 personnel manufacturing

some of the most technologically superior hand tool products in the country.

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Beginning with quality raw materials sourced from R. L. Steels Ltd., Akar Tools

Ltd. gives shape to the industrial dreams of the country.

Right from conceptualizing, designing and manufacturing these hi-end tool

products. Akar Tools Ltd. employ's latest cutting edge technology at its state-of-

the-art facility where Makino CNC machines, Collocate polishing machines,

vibrators and other sophisticated machines are used to craft the most perfect hand

tools. Akar Tools Ltd. supplies to globally competitive markets like North America

and Europe where its products meet the stringent ANSI and DIN quality standards

with ease. This is because of the total commitment to continous quality

improvements at every stage of the production process.

Akar Tools Ltd. is today a future ready company able to sustain its high growth

rate and further add brand value to its products for the benefit of its customers.

 

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About us

A visionary Mr.Mahendranath Shukla founded Shukla Group of company in year 1992. Under this group company logistic business was first initiated by the name of Shukla Transport Company in Aurangabad (Maharashtra).

Shukla Transport co. is an authorized transporter of M/s Piaggio Greaves Ltd for than a decade. Its other esteemed clients are Piaggio Vehicles PVT. LTD. Endurance, Premium Energy, Greaves Cotton, Lumax, Akar Tools, Associated Engg., Ashutosh, Dhoot Transmission, Lombardini, Aurangabad Motors, B.C.L. Spring, N.R.B., Precius Tools, Auto Research As so Of India, Pune. and many small and medium scale industries from Aurangabad Transportation service is given all over India from Aurangabad.

After a huge success in Logistics, Global InfoTech, a software solution company was floated under a leadership of Mr.Satyendra Shukla in May 2005.

Vision

Market Leadership with effective systems and excellence in service standards for profitable growth.

Mission

We are committed in achieving Customer Delight and to the Pursuit of Excellence through constant improvement in Quality Service, continuous enhancement of Human Resources and ceaseless endeavor to provide Customized Solutions that meet Corporate Objectives, and thereby establish ourselves as trusted “Business Partners”.

We will always strive to improve the Quality of Life of our People and the Community by implementing Enlightened Practices and Welfare Schemes.

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Product of the Akar tools

 

   

Rings Polished Full Polished

Satin Chrome

Deep Offset Bihexagonal Ring Spanner

Half Moon Bihexagonal Ring Spanner (Elliptical Panel)

S - Shaped Bihexagonal Ring Spanner

Deep Offset Bihexagonal Ring Spanner (Elliptical Panel)

Shallow Offset 35o Angle Bihexagonal Ring Spanner

Bihexagonal 45o Angle Shallow Offset Long Pattern Ring Spanner

 

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Black Mirror Polish Finish SpanerWe are a leading manufacturer, exporter and supplier of a supreme quality range of black mirror polish finish spanner. This spanner range is fabricated using high grade raw material and is especially designed by our highly experienced professionals in full observance of international quality standards. Our quality controllers strictly examine the entire range on well-set quality parameters using the latest technology. Moreover, our clients can avail this assortment from us in various specifications as per their requirements at the most affordable prices.

Mirror Polish Finish SpannersBacked by a state-of-the-art infrastructural facility, we are capable of undertaking the bulk requirements of Mirror Polish Finish Spanners and deliver them in a timely manner. We fabricate this assortment from high grade raw material that is procured from the trustworthy and certified vendors of the industry. Our offered mirror polish finish spanners range is highly demanded in the market owing to its features like utmost durability, high performance, finest quality and longer service life. Available in various specifications, we offer

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this range at industry leading prices. 

 

Dull Satin Polish Finish SpaNnersWith an astonished talent of our competent team, we are offering a quality gamut of dull satin polish finish spanners. This range is fabricated by our highly experienced professionals using advanced machinery and latest technology. Fabricated using high grade raw material, this range is stringently tested by our quality auditors for utmost durability and flawless performance. We develop this range in adherence to the international quality standards. Moreover, our clients can avail this product range in both standard and customized form as per their needs at highly competitive prices.

 

The range of products we have various range of Hand Tools vis a vis

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Spanner/ Wrenches: It includes

Open Ended Jaw Spanners Ring Spanners Combination Spanners

Automotive/ Construction Tools: It includes

Tabular Box Spanners Chisels Wrecking Bar & Nail Pullers Bearing Pullers & Punches Lubricating Tools Clamps Hacksaws Vices

Electrical / Electronic Tools: It includes

Screw Drivers Pliers Electronic & Surgical Tools

Carpenter / Striking Tools: It includes

Pincers & Tin Cutter Striking Tools Planes T-Bar Cramps & Saw

Laminated Sprig leaves: It includes

Automobile leaf spings and assemblies Automobile parabolic spring leafs

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Organization structure:-

SR. General Manager

Works

Works manager

Department head

Shift supervisorShift supervisor Shift supervisor

Operator Operator Operator

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Research Methodology

data analysis:-

Employee Questionnaire

Que. 1) Are you satisfied with the procedure used by the akartools. Company for

Recruitment & Selection?

a) Yes

b) No

Objective: To find out the employee satisfaction level regarding the procedure used

by the akar tools for Recruitment & Selection process.

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Data Interpretation: This shows that 80% of employees were satisfied and 20%

employees were not satisfied with the procedure used by the akartools company for

Recruitment & Selection.

Que. 2) Is there any communication gap between you and HR manager?

a) Yes

b) No

Objective: To find out the communication gap between employee and management

This shows that18% of the employees felt that there is communication gap between them and HR manager and 68% of employees felt that there is no communication gap between them and HR manager

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Que. 3) rate the effectiveness of the interviewing process & selection instrument?

Objective : to know what empolyees feel about interviewing process & selection instrument of companY

This shows that 35% empolyee feel excellent, 56% good & 9% empolyee feel

that company is having poor interviewing process & selection instrument.

Que. 5) What type of interview technique is used?

a) Face to Face

b) Telephonic

c) Group

Objective: To find out which interview technique is used for selection of

candidate.

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Data Interpretation: This shows that 85% employees felt that mostly Face to Face

interview technique is used, 5% employee felt that Group interview technique is

used, and 10% employee felt that Telephonic interview technique is used for

selection of candidate.

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Study of Various Departments

Finance Department

The finance department of a business takes responsibility for organizing the

financial and accounting affairs including the preparation and presentation of

appropriate accounts, and the provision of financial information for managers. The

Finance Department is responsible for the financial functions and activities of the

Council and for the administration of the Council's fiscal policy. It is also

responsible for the financial activities of the Appalachian Development

Corporation. The main areas covered by the financial department include:

1. Book keeping procedures.

Keeping records of the purchases and sales made by a business as well as capital spending. These records today are typically kept on computer files. But we still use the term ledger entries to refer to the days when all financial transactions were carefully recorded in thick books (ledgers).

2. Creating a balance sheet and profit and loss account.

Financial statements need to be produced at given time intervals, for example

at the end of each financial year. Trial balances are extracted from the ledger

entries to create a Balance Sheet showing the assets and liabilities of a business

at the year end. In addition, records of purchases and sales are totaled up to

create a Profit and Loss (P&L) account.

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3. Providing management information.

Managers require ongoing financial information to enable them to make better decisions.

4. Management of wages.

The wages section of the finance department will be responsible for calculating the wages and salaries of employees and organizing the collection of income tax and national insurance for the Inland Revenue.

5. Raising of finance.

The finance department will also be responsible for the technical details of how a

business raises finance e.g. through loans, and the repayment of interest on that

finance. In addition it will supervise the payment of dividends to shareholders.

Finance Functions

Budget preparation

Budget administration

Cost allocation

Accounts payable

Payroll

Cash flow

Investments

Debt administration

Risk management

Internal financial reports

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External financial reports

Statutory reports

Tax reports

General accounting records

Fixed assets records

Purchase Department

This is a department in the company which is directly deals with suppliers and

sub-vendor for raw materials which is needed for the production of product that is

Side cover, Front fender, Seat cover, Cowling, cover etc.

Production department gets the production plan from the marketing department.

The next step of purchase department is to contact with respective sub-vendor or

suppliers to fulfill the raw materials needs of production department. According to

raw material requirement, purchase department make contact with raw material

suppliers and sub-vendor.

The vendors have to make the quotation and allow submitting in company

including the price list of raw material. The proper vendor is selected who is

eligible from point of view of price, quality and who clarifies every teams and

condition the transaction. The purchase order is given to sub-vendor. The PO

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includes the list of raw material, quantity etc. The PO is very important part of

transaction as it the legal proof between the company and the vendor. But before

giving the PO to vendor, material dept checks finished goods and raw material in

store department and then accordingly give PO to particular sub-vendor.

Maintenance Department

Maintenance department works for the maintenance of the Injection moulding

machines and all auxiliary equipments (e.g. welding machines).There are several

problems arising in the injection machines like leakage of oil pipes and cooling pipes

loose fitting of hydraulic cylinder, screw, hopper and barrel problems, electrical

problems, etc are solved by experienced engineers of maintenance department. The

maintenance department also removes the tool room machines problems. This

department performs work like regular cleaning of machine and solving any problem

faced by machines.

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Production Department

The production department is the heart of the company. It plans out production

schedule as per quantity of order and dispatch date. The shop floor consists of 8

injection moulding machine, 4 dryers, 4 welding Machines, cranes, conveyors etc.

The turnover of the company depends on its production department, so all other

departments associate with this department, so that the productivity always increases.

Increasing production with good quality product is the main aim of this department.

Stores Department

The storage department provides the required accessories for production.

This department does the purchase of raw materials, master batches, pigments and other Stationeries like poly bags, tapes, antirust and mould release sprays etc.

It keeps the records of the stock makes issues the requirement of various departments.

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Tool room Department

The tool room department works for the maintenance of mould. This department

has various machines like, Lathe machine, drilling machine, milling machine etc.

Any kind of mould problems like surface roughness, guide pin, guide bush, ejector

pins, ejector plate damage etc are here. Tool room department made mould /dice as

per new products requirement.

Quality Control Department

Checking and quality of produced goods is another aspect of production. Quality

control carries this out.

It checks and tests the quality of produced goods and takes measures to

improve and Maintain the quality of the products.

The various testing machines are installed in this department are M.F.I tester

and tensile strength tester.

The MFI of the raw material and tensile strength of the finished goods are

checked by these machines.

Besides these there are measuring equipments like vernier caliper, gauges push

pull meter, war page tester etc

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THE FUNCTIONS OF HRM

1. Recruiting

2. Training & Development

3. Payroll

4. Employee Engagement

5. Induction

6. Administration

7. Quality

RECRUITMENT

Recruitment Process Out sourcing is a form of business process outsourcing

where an employer out sources or transfers all or part of its recruitment activities to

an external service provider.

The Recruitment Process Outsourcing Association defines RPO as follows: "when

a provider acts as a company's internal recruitment function for a portion or all of

its jobs. RPO providers manage the entire recruiting/hiring process from job

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profiling through the on boarding of the new hire, including staff, technology,

method and reporting. A properly managed RPO will improve a company's time to

hire, increase the quality of the candidate pool, provide verifiable metrics, reduce

cost and improve governmental compliance."

The RPO Alliance, a group of the Human Resources Outsourcing Association

(HROA), approved this definition in February 2009: "Recruitment Process

Outsourcing (RPO) is a form of business process outsourcing (BPO) where an

employer transfers all or part of its recruitment processes to an external service

provider. An RPO provider can provide its own or may assume the company's

staff, technology, methodologies and reporting. In all cases, RPO differs greatly

from providers such as staffing companies and contingent/retained search

providers in that it assumes ownership of the design and management of the

recruitment process and the responsibility of results."

Occasional recruitment support, for example temporary, contingency and executive

search services, is more analogous to out-tasking, co-sourcing or just sourcing. In

this model, the service provider is just a source for certain types of recruitment

activity. The distinction between RPO and other types of staffing is that in RPO,

the service provider assumes control of the process. Recruitment process

1. Identify vacancy

2. Prepare job description and person specification

3. Advertising the vacancy

4. Managing the response

5. Short-listing

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6. Arrange interviews

7. Conducting interview and decision making

The recruitment process is immediately followed by the selection process i.e.

the final interviews and the decision making, conveying the decision and the

appointment formalities.

TRAINING AND DEVELOPMENT

Training and development is a subsystem of an organization. It ensures that

randomness is reduced and learning or behavioral change takes place in

structured format.

TRADITIONAL AND MODERN APPROACH OF TRAINING AND

DEVLOPMENT

Traditional approach – Most of the organizations before never used to believe

in training. They were holding the traditional view that managers are born and

not made. There were also some views that training is a very costly affair and

not worth. Organizations used to believe more in executive pinching. But now

the scenario seems to be changing.

The modern approach of training and development is that Indian Organizations

have realized the importance of corporate training. Training is now considered

as more of retention tool than a cost.

The training system in Indian Industry has been changed to create a smarter

workforce and yield the best results.

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TRAINING AND DEVELOPMENT OBJECTIVES

The principal objective of training and development division is to make sure

the availability of a skilled and willing workforce to an organization. In

addition to that, there are four other objectives: Individual, Organizational,

Functional, and Societal.

1) Individual Objectives – help employees in achieving their personal goals,

which in turn, enhances the individual contribution to an organization.

2) Organizational Objectives – assist the organization with its primary

objective by bringing individual effectiveness.

3) Functional Objectives – maintain the department’s contribution at a level

suitable to the organization’s needs.

4) Societal Objectives – ensure that an organization is ethically and socially

responsible to the needs and challenges of the society.

PAYROLL

In a company, payroll is the sum of all financial records of salaries , wages ,

bonuses and deductions. In accounting, payroll refers to the amount paid to

employees for services they provided during a certain period of time. Payroll

plays a major role in a company for several reasons. From an accounting point

of view, payroll is crucial because payroll and payroll taxes considerably affect

the net income of most companies and they are subject to laws and regulations

(e.g. in the U.S. payroll is subject to federal and state regulations).

From ethics in business viewpoint payroll is a critical department as employees

are responsive to payroll errors and irregularities: good employee morale

requires payroll to be paid timely and accurately. The primary mission of the

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payroll department is to ensure that all employees are paid accurately and

timely with the correct withholdings and deductions, and to ensure the

withholdings and deductions are remitted in a timely manner.

This includes salary payments, tax withholdings, and deductions from a

paycheck.

The term 'payroll' encompasses every employee of a company who receives a

regular wage or other compensation. Some employees may be paid a steady

salary while others are paid for hours worked or the number of items produced.

All of these different payment methods are calculated by a payroll specialist

and the appropriate paychecks are issued.

Companies often use objective measuring tools such as timecards or

timesheets completed by supervisors to determine the total amount of payroll

due each pay period.

Employee Engagement

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It is a must to take steps for employee engagement. This helps in keeping the

employees motivated and does help in reduction in attrition levels. The process

calls for a detailed strategy. A very significant part of the process of employee

engagement is rewarding good performances. An environment should be created

for making employees give their best.

The approach that is to be followed for employee engagement calls for taking

employee feedback on how satisfied they are with their jobs. The factors should

then be addressed to ensure that all problems are attended to.

It is important for a team manager to speak to the team about the work in general.

Also, it is important to review the performance of each individual in the team. The

assessment process should not be critical. It calls for feedback for improvement.

The training process after the assessment should aim at removing the flaws in the

performance.

It is important for a manager to be closely involved with the team. This would

come about only when the person knows the team members well. The manager

needs to take the initiatives for this. A team leader needs to hear out his members.

Listening helps in exchange of ideas. This way the team members feel that they are

contributing to the achievement of goals. This is beyond their primary role. This

encourages employees into thinking about the team as a whole.

Engaging employees in activities that allow people to unwind and relax helps them

in sharing moments of joy that lead to a bonding in the team. Call centers need to

stem attrition. Employee engagement is a must for the same. The steps as

mentioned are being taken by call centers in Rajasthan. This is helping in keeping

the employees motivated and is thus bringing efficiency to the processes.

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Research and Development

Research and Developments and technology absorptionResearch and Developments of new products, processes and methodologies continue to be important to us. In today’s dynamicbusiness environment, innovation through a sustained process of Research and Development (R&D) is a critical growth driver.R&D will need to focus in the developments and speedy commercialization of globally competitive products, processes andtechnologies. Your Company pursues R&D strategy premised on best-in-class benchmark research processes to secure sustainableand long term competitiveness for all its business. Its priorities are focused on projects with high research content and high impact.Over the last several years, your Company assembled a pool of qualified professionals and experts in the manufacturing and R&Ddepartment.

S.W.O.T analysis

Strength:

Brand equity

Promotion effectiveness

Price range

Weakness:

Small product range.

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There should be expansion of IT.

Opportunities:

Large and growing market potential.

Advantage of synergy product Range.

Threats :

Tough competition throughout INDIA.

Small product range.

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Conclusion:

The study and research of the project Recruitment and Selection process through

akar tools Ltd company was a rich experience in acquiring knowledge not only

about the core functions of recruitment and selection but also helped in getting an

overview of all the functions of the Human Resources Department at akar tools

Ltd. company.

The project helped in acquiring and in-depth knowledge about the procedure of

recruitment and selection followed at akartools Ltd. It also helped to understand

and acquire the employee feedback and bring in certain changes to better the

existing Recruitment and Selection procedure.

During implant training I came to know various practical things which is very

great experience for me.

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Bibliography

Books & Magazines

Money Outlook 

Brochures of akar tools

Website Referred:-

www.akartoolsltd.com

www.handtools.com

www.google.com