Metal Manufacturing Subscribers Mutually †Myassignmenthelp.Com

Question: Discuss About The Metal Manufacturing Subscribers Mutually? Answer: Introduction The purpose of this report is to describe the various duties being performed by the logistics manager of the company or an organization. In this report, we will discuss about the HG Metals Manufacturing Limited, Singapore. First of all in this report, we will discuss about the role of the logistics manager in the company and then we will study about the core function of the overall process, i.e., about the production process being carried out in the company, about the fields of marketing along-with the study of accounting and finance system of the company (Team, HG Metal, 2017). Key Information HG Metals Manufacturing Limited is the manufacturer of steel products and it manufactures a large variety of steel products from last forty five years in the country. HG Metals was founded in the year 1971, and working from such a long time at present the company holds approximately eight Lac square feet of the warehousing facilities. The company is successfully carrying out its business in a large number of countries across the world and it is capable of doing so with the help of its strong sourcing network with the other countries. The company manufactures and delivers more than three thousand steel products among the people all over the world. The company also offers several customized steel solutions to the customers all over the world. The HG Metals has divided its whole business into three different sections or companies, i.e., HG Distribution, HG Industrial Steel Services and the third one is HG Construction Steel. HG Metals were also listed on the Singapore Exchanges Main Bo ard in the year 2004. The company has successfully attained this position by maintaining good customer relationship as well as its supply network through its various representatives in the countries like Japan, Turkey, Russia and many other Eastern European Countries. The Interfaces Working as a logistics manager in the company, the basic task is to coordinate all the processes being carried out by the company such as, satisfying the employees, suppliers as well as the customers of the company. The working of the logistics manager ensures the success of the companys business by selecting an effective and efficient the supply chain management technique. Three core functional areas given in the case study, i.e., the process of marketing, production and the finance process are actually the part of supply chain, which are totally similar to the functionality of a logistics manager of the company or an organization. Both the processes include similar types of task or responsibilities like issues related to the environment, issues related to the transportation of the products from one place to another and many other processes related to the delivery of the products from the manufacturer to the customer on right time while ensuring all the safety procedures. The logist ics manager has to perform several important tasks like forecasting the requirements of the customers and fulfilling them according to their need. Effectively evaluating the buying patterns is also one of the most important tasks of the logistics manager/ supply chain manager. It is the responsibility of the logistics manager to introduce new-new policies related to the logistics activities and to modify these policies from time to time (Sin, 2014). He/she needs to track all the processes continuously to meet the requirements of the production staff and the customers. They need to introduce time to time training facilities for the newly recruited staff and to introduce the new technologies as well with the help of several models specially designed for the evaluation of the logistics services and programs. The complete working of the logistics manager is divided into two main categories, i.e., inbound logistics and the outbound logistics. Accomplishment of the several tasks like purc hasing the raw materials for the production of the products or we can say for the manufacturing process comes under the inbound logistics. On the other hand, the tasks related to the storage and delivery of the products across the world come under the outbound logistics (Team, 2016). Working as a logistics manager in the HG Metals, I would classify the whole working into different steps, which are as mentioned below: Manufacturing/ Production process talking about this phase we can say that, the company manufactures more than two thousand metal products and as a logistics manager it is our duty to implement the material flow management theory for evaluating the quality, quantity and the specification of the product needs to be manufactured depending upon the demand and the sale of the product. The Flow of the product as the name specifies, in this step the flow of the products from supplier to distributors and further from distributors to retailers, etc. is being monitored. Approximately 20% of the total products are plates, 30% are the bars, 19%are the beams, etc. therefore, we can say that all the marketing tasks like forecasting of the products, services, etc. are carried out in this phase. Cash flow in this phase the flow of the cash between the suppliers, manufacturer and the customer is being carried out. Operating cash flow of the company is approximately 2.67, whereas the free cash flow of the company is 5.16. By making an effective use of documented reports, metrics and any other type of record can be maintained easily. Order Cycle It is the process in which the routing of the products from place to the other is being carried out. The order cycle includes various steps like processing of the products, cycle actions, pick and release of the products, shipping confirmation, etc. with the help of this cycle anyone can check the current status of his/her products from anywhere and at any time. At present, each and every company working on small, medium or large scale requires latest technology for monitoring its order cycle. The insufficient forecasting of the products is one of the major reasons due to which the overall performance of the company lacks behind. Therefore, for the successful supply chain forecasting or we can say for the successful order cycle the trained staff and the business based modelling are required (Oracle, 2015). Order cycle helps in overcoming the mismatch, state between the demand of the products and the availability of the products as well. The process of order cycle helps the management of the company in less overstocking of the items or the products, which are already present in the stock. Further, this helps in decreasing the loss of the company in manufacturing those products which are shorter in demand, etc. for the future forecasting various logistical studies needs to be implemented in the company like Qualitative forecasting techniques, quantitative forecasting techniques, graphical forecasting techniques, etc. All these methods help in attaining the data from the previous sale of the products depending upon the requirement of the products by the customers across the world. The logistics manager can successfully accomplish all the tasks by selecting optimal transportation facilities, equipment being used for the transportation and by selecting chain based management system for the company. Working according to the logistical theories it is his/her responsibility to create and introduce new-new policies from time to time and he/she also needs to monitor thos e policies so that, they should be modified if required depending upon the present conditions (Kyith, 2011). At present the HG Metals are supplying its products in various countries across the world through their representatives. More than two thousand products are being delivered from the manufacturing plant of the company to the distributors of the company working in the country as well as outside the country and then those products are being delivered to the retailers and to the customers. The company can easily attract more and more customers towards it by providing services related to the products and by accepting customer returns against some valid reasons. Therefore, we can say that the order cycle is the measurement of the time interval taken by the system for the production of the products to the delivery of that product to the customer and they are as mentioned below. Production cycle time In this phase of the order cycle, production of the products is being done and monitored by the management at several intervals. Order processing This phase of the order cycle describes about the overall time invested in processing the products. Cash-to-cash cycle time In this phase of the order cycle, the financial investment or we can say the cash flow between the supplier and the customer is being carried out (PLS Logistics, 2015). Inventory management In this part of the report, we will discuss about the inventory management of the company. In actual, the inventory management is the process of controlling the flow of the products through various phases like production, cost, the value of the goods, etc. It is the process in which the actual record or we can also say that in which accurate records are being maintained by the management of the company about the finished goods, which are ready for the shipment across the different countries of the world (NextInsight Pte Ltd, 2017). The company holds a strong position in the markets of the various countries, which is possible only due to the strong procurement network. With the help of trained and well defined staff the company has covered a huge geographical area. The management of the company keeps on modifying the economic policies reactive to the price of the similar products present in the market (Spacey, 2016). With the help of latest technology the management can easily prepare general notes, buyer notes, vendor notes, etc., which are beneficial for accessing the history of the products manufactured. By introducing and effectively utilizing the latest technology machines we can easily track all the transactions, physical counts, etc. The two main tasks for the successful accomplishment of the inventory management are tag control and the replenishment process. Some of the phases can easily improve the overall working of the system, which are as mentioned below. By maintaining all the records related to the history of the products sale and purchase. By using the tag control module effectively for the inventory management (Ming, 2010). Ability to trace any object or the product completely such as, tracing the previous transactions, physical adjustments, etc. All this can be easily attained by providing time to time training to the employees so that, each and every employee of the company participates in each and every activity of the company. Conclusion Logistics manager plays an important role in the manufacturing company. Depending upon the guidelines of the logistics manager the management of the company can directly influence its business growth. Making an effective use of the technology directly influences the various factors like money, time, efforts, etc., invested in the production and the delivery of the products. The company needs to take timely surveys for the cross verification of the quality of the raw materials being purchased by the company and the equality of the products being delivered to the customers. An effective logistical technique helps in avoiding the loss of the money, shortage of the material required for the production process, which also influences the time and cost invested in that product. Proper planning is required for the implementing the various processes related to the internal and external system of the logistics. Collecting reviews from the employees as well as from the customers help in maintai ning the quality of the products, which raises the faith of the employees and the customers of the company. Therefore, we can say that all these processes will surely increase the growth of the companys business. References Kyith. (2011, May). HG Metal Quick Take: How to kill a steel stockist. Retrieved from https://investmentmoats.com/stock-market-commentary/value-investing/hg-metal-quick-take-how-to-kill-a-steel-stockist/ Ming, Y. (2010). Annual Report 2010: HG Metal manufacturing limited. Retrieved from https://hgmetal.listedcompany.com/misc/ar2010.pdf NextInsight Pte Ltd. (2017). HG METAL: Gets open letter from Quarz Capital. Retrieved from https://www.nextinsight.net/story-archive-mainmenu-60/939-2017/11533-hg-metal-gets-open-letter-from-quarz-capital Oracle. (2015). Defining and Maintaining Order Cycles. Retrieved from https://docs.oracle.com/cd/A60725_05/html/comnls/us/oe/defordcy.htm PLS Logistics. (2015, August 19). Reduce Cycle Time, Improve Efficiency. Retrieved from https://info.plslogistics.com/blog/reduce-cycle-time-improve-efficiency Sin, G. (2014). Resolution passed at annual general meeting. Retrieved from https://hgmetal.listedcompany.com/newsroom/20140423_173916_526_LLZUWLPIPXJ8OC53.1.pdf Spacey, J. (2016, June 27). 12 Key Metrics For Supply Chain Management. Retrieved from https://business.simplicable.com/business/new/12-key-metrics-for-supply-chain-management Team, HG Metal. (2017). Company Profile: HG Metal Manufacturing Limited. Retrieved from www.hgmetal.com: https://www.hgmetal.com/company-profile/ Team, R. (2016). HG Metal Manufacturing and subscribers have mutually agreed to terminate share subscription agreement. Retrieved from https://in.reuters.com/finance/stocks/HGMM.SI/key-developments/article/3437215