FERROCHROME DEMAND MEASUREMENT AND SALES FORECASTING OF IFCAL

PRESENTED BY:SRIMANI MOHAPATRABRANCH-MBAREGD-0906287008GANDHI INSTITUTE OF TECHNOLOGICAL ADVANCEMENT.Internal guide-SAGARIKA MOHANTY

INTRODUCTION TO THE TOPIC

• FerroAlloys is one of the vital inputs required for producing all types of Steel.

• The demand of Ferro Chrome is not constant , it varies rapidly because of Domestic and International market situation.

• The production and sales totally depend upon the demand of the product.

• Production and sales are very closely related ,the ultimate goal of production is to sale.

• Sale is the major source of revenue hence it is important function of marketing to maximize the sale of product.

• There is high competition in the market so it very necessary for the marketer to measure the demand correctly and forecast the sales effectively.

OBJECTIVE

To project cash flow of the enterprise.

To do the long term and short term planning.

To know the planning of various marketing activities .

To understand the methods followed by the company for

measuring sales of there product.

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COMPANY PROFILE

Company-IDCOL FERROCHROME & ALLOYS LTD Located-Jajpur road Establish on-1969,undertaken by Government of Odessa on

1999. Humanresource-426(regular),190(supply) Products-HCFC and Chrome ore of different grades. HOD Marketing-Atal Dash Marketing manager-Mr. H.K lenka Purchase manager-Mr M. Singh Customers-Durgapur Steel plant, Bokaro Steel plant. Competitors –Andhra Ferro Alloys,Jindal steel plant.

Theoretical Overview Of This Topic

Sales Forecasting- The sales forecast is a prediction of a sales for some future period of time, up to several years or more.

Sales forecasting is management's primary tool for predicting the volume of attainable sales.

Methods of Sales Forecasting -BOTTOM-UP FORECASTING

TOP-DOWN FORECASTING

Demand Measurement -Demand measurement is the activity of estimating the quantity of a product or service that consumers are purchasing or they will purchase.

Methods of measurement- Qualitative Method

Quantitative Method

RESEARCH METHODOLOGY

•This report is based on experience while working as a trainee at IDCOL

Ferrochrome ,Alloys Ltd ,Jajpur.

• Primary Data-Information collected from discussion with employees

in the sales and purchase department on various aspect .

•Secondary Data-Annual report(2005-06,2009-10),magazines,

internet, newspaper etc.

The following steps have been taken while preparing the report:

Observation and handling of activities in the marketing

department.

Knowing the demand and sales of ferrochrome in the market.

Data Analysis-

Sales Forecasting and Demand measurment of IFCAL is done by looking the below aspects:

Transportation

Marketing policy

Strategy

Market Survey

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LIMITATIONSIt was a very difficult process to collect accurate information from the persons involved.

Disturbing them in their working hours and all against their fear of being exposed.

It was also very difficult to convenience the respondents that the study was meant for academic propose only.

It is based on the opinion of the employees and secondary sources ,so it may not be free from bias.

CONCLUSION

•IFCAL is a public sector public ltd company , and its product is

exported to USA,UK ,SWEDEN ,JAPAN etc.

•At the time of establishment the plant was producing HCFC AND

LCFC ,but due to low demand now it is only producing HCFC.

•It is the second manufacturing ltd of HCFC in Odessa.

•To become comfortable with the market situation the orgaisation

is formulating realistic and feasible objective which they achieve

through proper strategy.

SUGESSION

.

•Pricing of the product should be decided on the basis of market

condition.

•Ferrochrome demand depends on the international market for

which they should take some proactive measures.

•Workers participation in the management should achieve the

objective in favour of the management.

•Public sector companies are unable to face the market

competition so the government should take some effective step..

THANK YOU