Sourcing of Materials for ISML
As part of my AMMT program, I have completed my three months internship program from a well-known industry named “Viyellatex Group”. During my internship period in “Viyellatex Group”, I have gained valuable knowledge and experience in the field of Supply Chain. So based on my learning and experience from the organization I have completed my internship report on Sourcing of Materials for ISML“Viyellatex Group”.
In this paper I have tried to focus and analyze the core Material Management of ISML and what kind of value added services they are providing to their Buyer and Supplier.
In the report I have discussed what kind of activities I have done describes in details in Supply Chain Department. Material sourcing, Purchasing & procurement, Inventory, in housing etc. In the terms of Sourcing I have basically discussed about the Executive Search of materials from the Supplier. In ISML supplier relationship is very confidential. In case of training I have tried to explain the different area of Sourcing. These are: current price of materials, how to get quality material with a minimum cost. In the methodology I have mentioned 30 population size and 7 sample size.
In recommendations how the industry can improve and also give some suggestions. In this report the problems, scope, limitations and various analyses are also done. In this report I have also tried to analyze the benefits of these services as well as my learning from the organization. From my personal view the learning aspect was fruitful and the experience there will help me in the future. I have learnt many aspects of MM, working with different sections of the company. Mainly working with SCM and Warehouse of the company was a great learning oopportunity.
This mearns the information of this report has been collected from company database and company past record files. Also data collected from Human Resource Manual and textbooks from various libraries. Primary data analysis: For the main prospect of my report I have decided to use primary data analysis. For this I have structured a small survey using the “descriptive research design” in the perspective of Material Management department of the company. I also interviewed my supervisor Monowar Hossain, Head of Material Management, ISML. The research itself is both the mixture of Quantitative & Qualitative research:
In the qualitative part it is an unstructured, exploratory research methodology based on small samples indented to provide insight and understanding of the Material Management department’s aactivity. But in case of qualitative side I have used structured questioner method and used standard sample size from the population of the whole Material Management department. As I have mentioned before the research design I have used in this analysis is “Descriptive Research Design” Under descriptive research design we know there are two types of methods are normally used they are: . Survey method 2. Observation method For my analysis I have used the survey method. This method works by obtaining information based on questioning of respondents. Respondents are asked a vvariety of questions regarding their behavior, intentions, attitudes, awareness and motivations. Question are basically asked either Verbally or in writing or both in same time. In this case I have decided to use the structured questioner format and asked the questions both verb ally and allowed them to write the aanswers.
I followed also the observation method, where I have learned many things by the official environments and colleagues. Observation also based on personal experiences shared by the fellow in the Group. 1. 3 Scope The report is totally based on material management I mean supply chain management. We know it’s a department of ISML. Here I’ve discussed about all the materials for manufacturing garments I mean manufacturing a shirt. I also discussed about producing company of all that materials. I mentioned their price and competitive price in the market.
I include here both international and local supplier company. 1. 4 Limitations # The study is undertaken considering ins and outs of the Material Management practices based on the Supply Chain Management of Interfab Shirt Manufacturing Ltd. and on personal experiences shared by the fellow in the Group. Personal biases and inconsistencies in the MM Manual with the current practices may be possible setbacks. # A relatively short period of internship may also be a reason to possibly overlook certain Misunderstandings or unfound details that may be of valued importance. Unavailability of data could be due to engagement of the current employees in Viyellatex Group. Experienced employees could have provided the required data. ? A good number of entrepreneurs are themselves ignorant about using the MM policies not only to source materials, but also to purchase and procure them. Due to shortage of time and oopportunity collected data could not be possible to compare with the data from other entrepreneurs. ? Data collection was complicated due to high turnover rate. Turnover ratio calculation was not possible due to poor record keeping. CHAPTER-2