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Team Abhyasa Visits Shivani Steel Alloys - Hyderabad
Another day has painted its beautiful memories in the dairies of Abhyasa students as they have gone through a field trip that gave them an experiential learning. The objectives of conducting this field trip were to provide the students an opportunity of
- Having a practical understanding on – Management and its functions being exercised in a business house,
- Understanding the process of executing a work order received from a client
- How demand is met with regular supply and
- How the stock ledgers are maintained in a manufacturing organization.
The class XI and XII students of Commerce were taken to Shivani Steel Alloys Manufacturing Company which is into manufacturing of Steel Alloys, with two units located at Patancheru and Ankenpally villages in Hyderabad.
It was a pleasant meeting Mr.Subba Rao – Manager (Finance) who accompanied the team Abhyasa to both the units of Shivani Steel Alloys Patancheru and the later the one at Ankenapally. At the Patancheru Unit he explained the process – how orders are received from the clients. He also elucidated the following processes:
- Quoting a Tender by Shivani Steel Alloys
- Preparation of Cost Sheet
- Receiving a Work Order from a client
- Executing a Work Order
- How the samples of Shivani Alloys are tested by their clients before giving a bulk order
- The Role of Marketing department in this process
- The Role of Production and Finance departments
- The process of manufacturing of Steel Alloys
Later, the team was taken to the second unit which was located at Ankenapally. Mr.Subba Rao explained to the students about how the process of POSDC (Planning, Organizing, Staffing, Directing and Controlling) is being practiced at Shivani. Being a Finance manager – he concentrated on Finance Function of Management. He explained how funds are raised and allocated for a business. He discussed about the following topics:
- Credit worthiness of a businessman.
- Business Intelligence to be shown by a businessman.
- The commitment to be shown by every entrepreneur while paying the loans back to the banker.
- Preparation of Working Capital Projections
- How will the banker review the Working Capital Projections submitted by the banker
- What are the parameters looked into, to rate the credit worthiness of the client by the banker
- When and how to go for IPO (Initial Public Offering) and GDR (Global Depositary Receipt)
- The rules and regulations to be followed for IPO and GDR
- Different business strategies to be followed by the business man to get settled in the market.
It was a mind-blowing experience for the students to watch the manufacturing process of steel alloys. Immense pleasure could be found on their faces as they were explained how the alloys were manufactured with latest technology. It was a precious experience for them to have watched the Process live where the iron and steel were melted at around 180 Celsius and poured into the moulds. Followed by a knowledge sharing session, how Shivani Alloys meets the demand with its uninterrupted supply, team Abhyasa had experienced how a business house equates the demand with its supply.
Mr.Subba Rao explained that FIFO method of inventory was followed and he also explained why such method had been adopted by Shivani. Students were very happy to gain a first hand information about the topics studied in.
It was a successful event where in the Commerce Department t has invested their best efforts to get their children educated on practical grounds. We will continue to motivate our students to create wealth instead of acquiring wealth…………
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