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roducers of quality reports for your business. Specific business. Any unknown problem that you may face in ation but you don't know about that. Our consultancy p your business it is guaranteed. Internship Report On
hip report is to be submitted for fulfillment of degree of
ster of Business and Information Technology By Khizar Arslan F05MD017 Presented to: Dr. Nayyar Raza Zaidi
stitute of Business and Information Technology University of the Punjab Dedicated to my Parents
eir knowledge, wisdom, guidance, and prayers, I would chieved the goals I have strived for and the best to reach my dreams.
Khizar Arslan F05MD017
mighty Allah who blessed me and made it possible for me te this internship report. I am also very grateful to may ho supported me during the hard times I faced. I wish to found gratitude to my teacher Sir Mansoor Mehmood for t guidance, keen interest and continuous encouragement.
thankful to all my teachers of IBIT who taught me and pply the bookish knowledge into practical life. I am also ankful to all my team of Gulberg Fashion who made this project possible for me. Executive Summary
many options in deciding where to do my internship. ncluded working in a Bank, working with Insurance working in Textile sector. I decided to work in a textile 68% of the Pakistan’s export is dependent on Textile. I e sector has bright future in coming years. Keeping this ecided to start my internship in Gulberg Fashion.
hion is engaged in processing raw fabric to finished d exports these products to different countries. Gulberg tuated in Sialkot and same location is for its head office. the head office and paid occasional visits to the factory isualize the production process. I worked with all the which are:
ship I learned how to manage accounts for all types for working. by hard work and sincere eased the exports of the company so that it became the c exporter in Sialkot. ment and all the employees. Gulberg Fashion is exporting its several countries including UK and UAE. grace of Allah (the Almighty) Gulberg Fashion is one of ul and leading exporters of fabric and garments. To do the internship was much more important se it was not only the degree requirement but also an to grab practical experience before starting my career by getting proper employment in the business. . The unit started n 2001 and its production capacity fulfilled the of the management and proved as a successful venture. Introduction hion was established in 2001 in Sialkot for meeting the ood quality fabrics worldwide.Accounts and Finance Department Marketing Department mport and Export Department Purchase Department h the Finance Department as it is related with my major.
thread. and waterproofing. Finished textile products rel. foreign exchange earnings. leather. It has 46% rall manufacturing activity. structure he fourth largest cotton producing country in the world. employment. and knit fabrics. and 18% on the finishing sector. ving sector. and items. The value addition in this sector 9% of GDP and its share in the overall employment is . Pakistan exports are high dependent on the textile kistan has become one of the leading cotton producing ntration. . along with its to exports. nd value added in industry. makes it the single largest of the growth in the manufacturing sector. canvas sheeting. twine. main share of textile products is more than 50% yarn only. 68% share in export earnings ue of $7 billion. curtains and drapes. tan’s textile industry is based on 60% on spinning sector.Profile of the Industry manufacturing sector includes companies engaged in le products such as yarn. coating. textile sector in Pakistan’s economy.
home textiles. Gulberg Fashion is a irm came into existence in 2003. rting. Gulberg Fashion is dyeing and printing on different kinds of fabric targeting rt markets but also keeping a small presence in the local s balancing. History and Background hion is one of the leading manufacturers and exporters nd garments in Pakistan. The textile industry in the es increase of organizations producing value added meet growing international demands. curtains. towels. and a dedicated team of professionals in the finance. nd technical departments. With the dynamic leadership of its CEO. modernization and replacement have been in the organization making it one of the leading its size.stry is concentrating towards value added products which ments. Gulberg Fashion has been able lity products and has increased its exports sales by an 0% in the last 3 years. Gulberg Fashion has increased its sales and total average of 15% and 10 % respectively in the last 3 years. Products and Services hion core competence lies in providing quality controlled . Mr. finishing fabric. and designer knitwear. ssential and critical role in the private sector and exports try.
construction and width. Satins.efficient utilization of its available resources. ment to quality and timely delivery has made us proud to st of satisfied and loyal customers. nd Pak-cotton etc as preferred by the customers. Drills. Processed range includes rinted & Dyed Fabric.. n business relationship on the basis of trust & Client satisfaction is our top priority. Poly-Cotton & CVC Blend with Dobby with multi pick insertion facility. ications include composition. regular items which we are supplying to UAE and 40/40 110x90 40/40 120x70 50/50 130x110 40/40 127x79 0 40/40 148x82 40/40 140x100 DPI 60/60 190x90 80/80 224x192 6 8 80 . Gulberg Fashion also bric with having wide range in raw cotton like PIMA. All our fabric is made according ication of the countries to which these are exported to. Twills. ation offers quality Grey Fabric in different constructions which includes Percales. Stripe 0% Cotton. Our product line grey fabric to processed fabric.
This is one of the reasons why we st of satisfied and loyal customers. bleach. towel.90 40/40 133x72 DPI 80/80 240x244 DPI ge of our in-house weaving. abrics ISO standard finishing arrangements to provide yed & Printed fabrics in narrow and wider widths the specification of customers. hand towel in cotton Profile of the Company . hotel and home bed sheets. ll kinds of fabrics in bulk quantity stock fresh fabric and %cotton and poly/cotton fabrics like gray. bath towel. dyed e in hospital. we can supply quality efficient deliveries.
Sialkot.hion is a partnership firm came into existence in 2001 in principal business of the organization is get raw fabrics ng those raw fabrics to finishing form after dying and exporting of these finished products to different he registered office and factory of the organization is HMED PURA. Amir Manager: Mr. which in a well-diversified client list and a geographically nue base. ation follows an aggressive marketing strategy. ment team of the organization comprises of dynamic s qualified to meet the challenges of the market-place. Musawwar r. Amir . h Irfan eting: Mrs. nt agement establishes the operating policies and reviews on the regular intervals to ensure that the performance any is in compliance with these policies. Irfan ontroller: Mr.
ion of cotton cloth in the mill sector has increased at a pace by 17% last year while the non-mill sector has modest growth of 6 in the same period. scarcity of and the lack of institution financing. garments.e. cts in textile down stream industry are hosiery.Industry Business Process uction comprises of cotton ginning. ctor is comprised of hosiery. home textiles. The weaving sector has different sub-sectors i. cotton c processing (gray-dyed-printed). xtile units. wear and readymade garments. towels. towels. These components are ced both in the large-scale organized sector as well as in cottage/small and medium units. and power loom wer looms encompass poor technology. towels. independent weaving units. There are g factories in Pakistan and their total capacity is ly 20 million bales per year while total production of n is 10million bales suggesting an excess capacity of he country. The current status of s subsidiary textile industries is reviewed below: sector is out-dated and needs modernization. cotton yarn.2 million spindles and 147 tors. canvas r. pinning sector is comprised of 453 textile units (50 nd 403 spinning units) with 9. .
Spain and Turkey who are doing their best to install new d units to stimulate their respective exports. and stry. Australia and s imported from countries like: Japan. China and Turkey will be the biggest competitors. Industries like knitwear industry. vesting a lot in finishing of home textiles. tents. For a textile manufacturing to compete in the international market. s acing heavy competition from countries like China. Italy. In the s. Germany. readymade d towel industry are included in downstream industry. garments. it needs to y improve their quality to meet tough international . cotton bags.bed-ear. readymade garments and rels. On the other hand. Company Business Process Gulberg Fashion is presented with challenges as well as s for the company. China is buying new as well as machines from all over the world to fulfill the future ain ng factory Textile mill Agent Buyer ported from following countries: USA.
Organizational Structure CEO Financial Controller Manager production G. ns to be the most expensive input after raw materials. Gulberg Fashion presence in the market already gives them an edge over their as their brand is already established in the market. for which it is very important to buy ality fabrics. In his.M.M Marketing Finance Manager Accounts Officer A. Keeping this in mind. UAE. Finance . and dyeing and also added features. Gulberg Fashion has gone into self-generation. Gulberg Fashion is producing high hed products and competing the international markets K.d also increase productivity. hence Gulberg Fashion purchases raw very selective manufacturers who provide them with brics. etc. hion is exporting high quality fabrics. icantly decreases its cost and puts it as an advantage in onal arena. As a result.
The ople ensure the Quality of work in the Bleaching to fulfill the desired quality. As my major is Finance hence I started my internship from Finance nt maximum time there as compared to time spent in the other departments of the tment ess is the main process. the fabric is brought for the bleaching. After weaving mill. and Marketing company.Import Officer Store Accountant Sales and Marketing Manager Exports Manager Purchase Manager Cashier Production Supervisor Description of various Departments berg Fashion on 7th April. s are used in Bleaching process: ox: . Purchase Department. 2008 as part of my internship. I worked with all the includes Import/ Export Department.
It is a cess. very important and crucial which involves the following three machines: Thermosol: Steam: ler Soaper Washing: is the process which assures the quality of the fabric and gives it a perfect look. Raising Machines & Sanforizing n finishing process. ment as its Marketing Department to sell its finished goods. The latest machines which include Stenters. then the fabric will be taken to first of all Ager Machine & then Goller en to Stenter finish & finally to the calendar. Gulberg fashion sells its .cerizing geing & De-sizing: r: er Mangle: done from rotaries and now the route of the fabric depends on the dye class. If the been used.
umentations the following documents which are made when Gulberg Fashion sells its products: involved in export process yer ller yer Bank ller Bank visory Bank ontract ollowing are mentioned: yer scription: uantity: . Most of the yarn produced at Gulberg Fashion is being destinations including USA. Gulberg Fashion has an o is responsible for the activities involved in the entire export process.in the local as well as international markets. UK. Gulberg fashion has an Export Department to cater its international orders. UAE. etc. For this purpose.
cking: ipment: surance: rices: Amount yment: lended & filament yarn export contract registration tract number contract date: me of Exporter: orting country ntity n type ort price ment term credit e things are mentioned: ount .
prepare pre-shipment documents which are as follows” cial Invoice e documents are prepared on the company’s letter pad. ss Weight Weight . m “E” No.ing bank licant e of issue iry date and place eficiary ial shipment est date of shipment ment schedule e sent for negotiations with the buyer’s bank. Insurance in covered by the buyer. ollowing things are mentioned: tract No. Only the name of the buyer’s not the complete name of the buyer.
e ks & No. oduct y (Kgs) and rt of destination rt of shipment ntract no. pe rice . rm E No. cription of Goods t Price ount ght rice Certificate C No.
livers these documents in the shape of complete set to the Accounting Department. Gate entry pass. the purchase officer prepares Dispatch Advise as per items on the bills. store intimation. Purchase Department receives the requisition and ounts Department for items coding and rate verification. If the d by the CEO it is purchased by the Purchase Manager. goods with bill. In partment responsible person sends it to factory in the shape of summary.ayment ountry ontract Reg.e. nt to the head office. No. The manager forwards it to the CEO for the final approval. ontract date moval of zero rated exemption is filed when the container is released from the factory. ment e purchase procedure of GFE: : der of material required at Factory is sent to Head Office. GIRN eipt note) to be sent back to the head office after signed by general manager. The demand arises he store officer prepares the purchase requisition which is approved by the General isition is then sent to head office. In the factory es the bill and attaches some documents i. Next it is forwarded to the er for approval. Finally partment books the approved bill in the ledger party wise. .
There are so many .Internship Activities nternship activities in Finance department “GULBERG FASHION”: me were: 1) Preparation of bank payment voucher ime I spent in the finance department of GFE. Photo copy of the check is he voucher when payment is made through check. entry is: nt Debit e Credit eparation of journal voucher used when there is not cash or bank is involved in a transaction. y for bank payment voucher is: ount Debit nt Credit 2) Preparation of bank receipt voucher voucher is used when payment is received and deposited into the bank account of the . Deposit receipt is attached to the bank receipt voucher as supporting document. I used to prepare bank payment ank payment voucher is used when payment is made for different types of expenses and payables out of the bank account of the organization.
4) Bank reconciliation statement nancial matters of the organization. the journal transaction is recorded this way: e Debit dit ers and cash payment vouchers are also used for the receipt and payment of cash. it is up to the vendor whether he presents the check to the bank soon variation of presentation of check leads to the variation in the balance in the records of d balance of account in the record of bank. So . it was my responsibility to prepare bank ment for the account of the GFE with the bank. sued to the vendor. 5) Current account reconciliation the organization is allocated to some portion of the total payments made by the nciliation of that account is also necessary for determining the actual balance of 6) Budgeting for admin expenses Assistant Manager Finance for making the budget for different kinds of expenses d in maintaining the daily expenditures’ record of the organization. For example. the record of actual expenditures and budgeted expenditures are compared. when goods are sold to the unt. 7) Budget variance eriod. Bank reconciliation statement usually ence of presentation of the checks which were issued to the vendors for the payment.s for which journal vouchers are prepared.
8) Maintenance of different files lity of mine is to maintain the files for different kinds of documents. istan is an agricultural country and we have quality cotton produced here especially in . He was the accounts officer in Gulberg Fashion. He started his career with the Gulberg ck and fully satisfied with the working environment there. SWOT analysis of the industry quality of our yarn is very good for knitting and weaving. n is helpful in making budget for next period. Management Style of my senior s been supervising me throughout this internship at Gulberg Corporation was Mr. 9) Preparation of Payroll Sheet mportant document which is to be prepared in all organizations for the efficient ed how to prepare payroll sheet in Gulberg Fashion. He is very supporting and his subordinates and appreciates everyone who works hard to complete the task team player who makes his team-members working sincerely. He knows better how to esolve conflict among the team-members in a very wise manner.determine the difference of estimated and actual amounts of various kinds of expenses.
brand name is not registered in international market. etc. management of the GFE is very competent. Multan. labor is very intelligent and can be educated and skilled. We can have seminars to ate people. educated and visionary. rldwide ladies garments constitute 60% and our contribution in that is near zero percent. main source of income to textile industry is undergarments and shirts only.of Rahim Yar Khan. SWOT analysis of the Organization ric of very good quality is used by the organization for export. istan Government is supporting the textile industry. major weakness is that we are not making enough finished products. ns are available on low mark-up. They are making . rket China and Bangladesh are major threats to Pakistan Textile Industry because in the lectricity and labor is much cheaper and also the workers are more skilled.
the organization faces recruitment . MIS system is there but it can be made better. duction capacity is low. ncrease its exports in the international market as there is high demand for quality ountries in Europe and other continents. w software needs to be installed so that the workload on the employees reduces. y competitive so GFE needs expansion to compete in local as well as international Identification of Issues/ Problems cation and Scope of Specification: ip in Gulberg Fashion Enterprise I was able to point out the following problems that ng: i. There are very few incentives offered to the employees which are resulting in high turnover. Due to absence of Human Resource Department. ii.use of resources and opportunities. relations with buying units are appreciable. which needs to be increased for better competition.
Lack of job satisfaction is leading to inefficiency in their work. iii. . lberg Fashion needs to set up a Human Resource Department in order to inject fied personnel in their workforce. Another reason is that most of he employees are hired on basis of relations and connections instead of merit.problems at lower level posts. iv. The employees are underpaid and if the employees request their boss to increase their pay mostly get an answer that the company is in a liquidity crunch. ulberg Fashion needs to hire employees on merit and the owners should praise oyees based on their contribution towards their work. Another problem that the employees always complained was that the salary was never given on time. therefore the GFE’s current workforce is over burdened. I have noticed several times that for a task which requires hardly thirty minutes the employees spend two hours just to show that they are working hard but in fact they are prolonging their work. For example. It was usual for the employees to receive their salary nine to thirteen days in delay from the date set by the management. Employees lack job satisfaction and security. The reason for this is that if an employee does not agree with everything boss says they will not be in his good books and can be fired without any reason. v. Recommendation m Resolution: order to cope with the high turnover problem GFE needs to give bonuses and incentives employees.
man Resource Department will lead to injection of fresh workforce with latest ledge which will not only reduce the burden but the new knowledge will also help the any. A good image will make it a market leader in . e most vital problem that the organization needs to address is to give salaries on time use it is human nature.rganization should revise the pay structure. nuses and incentives will lead to higher efficiency for the firm and increase the ess’s profits. lts: takes into account all the above mentioned problems and the proposed solutions the s image improving in the market place. E needs to pay its employees on time because people working at the lower posts are dy out of pocket and when they get their pay late it is hard to plan their monthly budget. problem is not only troublesome for the employees but it also causes problems for the ization as the employees will start getting fed up from not getting their pay on time and ose concentration at work causing business more problems. good pay structure will get the employees motivated in their job which as a result will neficial for the firm. iring of workforce on merit will lead to better quality of work for the organization and ncrease the standard in the international and local workplace. that if a person is not mentally free he can not optimally perform ir work.
e and offer its students a volunteer internship for its students may be lasting for 2 to 3 rogram. tinational companies. e industry visits for its students on regular basis.Recommendations for IBIT ecommendations for IBIT: ng relations of IBIT with the industry for the better future prospects of its students. ity of IBIT to arrange internship for its students. Appendices . Its not just on the students’ end to put ecognition for IBIT. It will help the students to get fessional world where they are going to contribute their skills and knowledge. banks and government organizations will help in making IBIT’s hich is actually required by the industry. but IBIT must contribute its efforts because future of students of Future of IBIT. It will help students to get practical exposure of what they are learning at IBIT. eminars minars must be organized in order to help the students enhance their skills required by minars will also be helpful for the IBIT and its student’s success.
d) pricing term under which the seller must deliver goods on board the ship at the point xpense. ate . The buyer risks from the time the cargo is placed on to the vessel on the rmit is required to export certain products to certain destinations. d Freight a pricing term under which the seller pays all expenses involved in the dise on board a carrier and in additional prepares the freight and insurance to an agreed e that hauls cargo eight the seller will deliver the goods on to a vessel and pay all the normal charges to get the seaport.eight t that insurance is covered by buyer.
by the insurance company. under a marine policy and ular shipment of merchandise. portunities to learn practical knowledge in the different areas of a business and textile ashion. It is recommended to start internship with Gulberg Fashion because of the ment of the organization. People are the building block of every organization so suitable for the internship. ch a draft or acceptance becomes due for payment. All countries having these e equal treatment respect to customs and tariffs. ter of credit is one which can not be altered or canceled once it has been negotiated his bank. . by the bank at buyer’s request in favor of a seller promising to pay an agreed amount eipt by the bank of the certain documents within a specific time. Recommendation for next internship with Gulberg Fashion a well reputed organization in Sialkot city which is involved in exporting its products of the world. Internship with Gulberg Fashion gives professional exposure of what we have uring our IBIT program. usually to the order of shipper.
Us Policy .pk d Mir.References m.
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