Provide me summary of Indian Farmers Fertiliser Co-operative Limited Summer Project.
You want to know about summary of Indian Farmers Fertiliser Co-operative Limited Summer Project so here I am giving you its summary:
Indian Farmers Fertiliser Co-operative Limited (IFFCO) is a Multistate Co-operative Society. It was a unique venture in which the farmers of the country through their own Co-operative Societies created this new institution to safeguard their interests. IFFCO manufactures Urea and NPK/ DAP fertilizers and sells them to the co-operative societies.
The project is Working Capital Management of IFFCO. The objectives of the project are:
To analyse the working capital and working capital management policies at IFFCO
To analyse the cash management practices at IFFCO
The study is mainly based on the secondary data which refers to that form of information that has already been collected and is available. The analysis of working capital is based on ratio analysis to monitor overall trends in working capital and to identify areas requiring closer management.
Working capital is not measurable by only current assets & current liabilities but there are some other factors also that have an influence on the working capital. From the analysis of the components of working capital, it was found that the organization is utilizing its funds properly, the inventory is managed efficiently and the organization is able to get sufficient short term financing. It is clear that the working capital of IFFCO is in sound position. The suggestions can be made in the management of inventory by implementation of JIT or Kanban and management of liquid assets including the subsidy provided by the government.
The Cash Management System at IFFCO is very sound and efficient. It has enabled the organization to manage its funds in a proper manner resulting in better utilization and availability of funds in cash deficit periods. IFFCO has a tie up with banks such as IOB, HSBC Bank, ICICI Bank that are providing IFFCO with facilities such as cash management services, personalized financial MIS to enable IFFCO to accelerate the collection and payment of funds, debit sweep option, Anywhere banking facility, etc. The suggestion that can be given to the organization is the implementation of RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer) facilities which will improve the cash transfer at IFFCO.
Rest of information and application form for summer project is given in word file of which link I am providing you.