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Marathwada Shikshan Prasarak Mandals

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

Marathwada Shikshan Prasarak Mandals

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. Rushina Khan

Prof Vaishali Raodeo HoD

Dr.Ulhas Shiurkar Director

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

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. Rushina Khan

Prof Vaishali Raodeo HoD

Dr.Ulhas Shiurkar Director

Certificate from the Company

TABLE OF CONTENTS

Sr. No. 1 2 3 4

Particulars Profile of the company Objective & Scope of the project Vision mission of the company Products of the company

Page No.

8 11 13 14

5 6 7 8 9 10

Research methodology Study of various department Function of HRM SWOT analysis Conclusion Bibliography

19 23 29 36 37 38

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.

Unit-1 E5, Waluj, MIDC Aurangabad - 431136 Call: + (91)-(240)-6647300

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 BunderMumbai400009,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 companys 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 companys common shares are listed on the Bombay Stock Exchange with stock code 530621. Some of the companys 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 Companys activities are manufacturing carpenter/striking tools, tool aprons, electrical tools, spanners/wrenches & construction/automotive tools. Description and history The Companys 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-ofthe-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 Ring Spanner

Bihexagonal

Half Moon Bihexagonal Ring Spanner (Elliptical Panel) Deep Offset Bihexagonal Ring Spanner (Elliptical Panel) Bihexagonal 45o Angle Shallow Offset Long Pattern Ring Spanner

S - Shaped Bihexagonal Ring Spanner Shallow Offset 35o Angle Bihexagonal Ring Spanner

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Black Mirror Polish Finish Spaner

We 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 Spanners

Backed 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 this range at industry leading prices.

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Dull Satin Polish Finish SpaNners

With 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 supervisor

Shift 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. 2. 3. 4. 5. Identify vacancy Prepare job description and person specification Advertising the vacancy Managing the response Short-listing

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6. 7.

Arrange interviews 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 departments contribution at a level suitable to the organizations 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.

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Employee Engagement

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

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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.

Research and Development

Research and Developments and technology absorption Research and Developments of new products, processes and methodologies continue to be important to us. In todays dynamic business 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 and technologies. Your Company pursues R&D strategy premised on best-in-class benchmark research processes to secure sustainable and 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&D department.

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S.W.O.T analysis
Strength: Brand equity Promotion effectiveness Price range

Weakness: Small product range. 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