Designing a new inventory management of R and D centre of jubilant life sciences
Student name: Mr Kshitij Sharma
Guide: Dr Sanpa Narula
Year of completion: 2012
Host Organisation: Jubilant Life Sciences, Noida
Supervisor (Host Organisation): Mr Harish Chandra Verma
Abstract: Today organizations believe that they must ensure effective supply chain to compete in this
globalized economy. These days business has gone beyond the traditional boundaries and trying
to integrate different sectors like marketing, QA, manufacturing, supply chain. Supply chain is
integrating the organizations, people, and resources, technology involved in converting a
product or service from raw materials to final products and especially in manufacturing industry
material is the largest single expenditure ranging up to 65% of the total expenditure, thus
material management has become the competitive edge today.
Therefore maintaining a flawless supply chain across all the operations of organizations has
becomes absolutely necessary as competition is growing, cost cutting in various operations of
the organization and yet giving customers the required products and services has become
necessary for these organizations.
The process of inventory management takes care of the constant flow of material into and out of
our system. It basically involves controlling the movement of materials so as to prevent the
inventory from becoming very high thus controls the cost involved in the whole keeping all these
aspects of Inventory management in mind.
The project title was “Designing a new inventory system for Jubilant Life sciencesâ€.
The project work divided into two phase data collection and analysis of data. Each phase is
being described as follows.
Phase 1
Phase 1 was the starting point of project work. Before going out for primary research work, I
studied the inventory management with the help of internet, did the yearend inventory valuation
and collected some useful insight about the topic.
Phase 2
After identifying the issues related to inventory management at Jubilant Life Sciences, I
formulated the questionnaire, covering each & every detail of inventory management like
problems in collecting material from stores, sourcing, selecting suppliers etc. and then I went to
around 50 individuals in each of the R&D centre and collected the data then I analyzed this raw
data to get some meaningful information, this survey helped me to figure out the issues/problems
and their possible solutions regarding inventory, sourcing, and procurement processes
