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University of SanCarlosGroup 7

I. COMPANY PROFILE

Company Name : STL Corporation VISMIN(Not the real name of the company as requested bythe management for confidential

purposes)

Location : Mandaue CityContact Person : Arch. Giovanni Francis TabuarPalisocPosition Title : Plant ManagerContact No. : (032)3449915Fax No. : (032)3458227E-mail Address : [email protected] of business : Construction Industry


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II. HISTORY

STL Corporation was established in 19xx. The company set-up the firstgalvanizing plant in the Philippines in answer to the need of the country forgalvanized iron sheets to be used in construction, building and roofing materials.

The pioneering efforts in sheet galvanizing and establishment of STL notonly contributed to the industrialization program of the Philippine government but

also saved the country much needed foreign exchange. It was a dollar-savingindustry which boosted the international dollar reserves of the country allowingthe government to utilize the dollar savings in importing other necessary items fornation building. STLs founder received from Philippine President Carlos P. Garciain 1961 the Philippine Legion of Honor Award, for achievements as pioneerindustrialist. The award is the highest decoration the Philippine governmentbestows on its citizen.

STL is managed by third and fourth generation members of the organizingfamily.

STL Corporation, in its continued commitment to innovation, hasestablished the first-ever-state-of-the-art continuous galvanizing line. This newplant was allowed the company to offer superior quality galvanized sheet and coilsusing the modern technology of a non-oxidizing furnace.

The technology of STL Corporation has catapulted the countrys steelgalvanizing industry to a level at par with developed countries such as Korea,

Taiwan, Japan, United States and Europe. This innovative galvanizing plant has acapacity of 150,000 metric tons/year


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STLs non-oxidizing furnace type of galvanizing has definite advantagesover traditional flux-type galvanizing, a technology being utilized by mostgalvanizers in the country. The difference is evident in X (STLs well-known brand)quality in terms of superior corrosion protection, extraordinary formability anddrawability, paintability and excellent weldability. These galvanized products areparticularly suited for applications involving deep drawing, press forming, profilingand multiple severe bending.

X has able to take the most severe deformation with virtually no crackingor flaking, a world class quality that is now available in the country. This projectwill complement our governments national objective of building a fully integratedsteel production facility by creating downstream demand for raw materials, thushastening its development. The availability of world-class galvanized materialssuch as X supports other local downstream industries particularly housing,

construction, appliances, AUV/bus bodies, steel fabrication, airconducting andsteel decking and other metal working industries in developing equally high-valuesteel products.

STLs modernization and expansion project is in response to ourgovernments call for local companies to achieve global competitiveness stature.STLs equipment supplier, who has played a pivotal role in realizing its vision ofrevolutionizing the local steel industry is the worlds leading metallurgicalengineering designer, Cockerill Mechanical Industries or CMI is part of Cockerill-Sambre Group, the largest flatsheet galvanized products manufacturer in Europeand is among the top five galvanizers in the world. This project bring us togethernot only the latest and most modern manufacturing facilities but also the know-

how and technology to produce world-class galvanized products in the Philippinessuch as X . This project, having been registered by the Board of Investments as apioneer venture because of the manufacturing technology, will receive incentivesand privileges in line with the Iron and Steel Act (R.A. 7103) which has now beenincorporated in the 1995 Investment Priorities Plan.

VISION

To be a premier world class manufacturer of coated steel products in thePhilippines and in the Asia pacific region.

We exist because:

Customers - are the cornerstones of our business, we shall serve themwith the highest level of care, exerting all efforts to exceed customersatisfaction and focused on delivering superior consumer value.

Employees - are our greatest assets. We shall provide them theopportunity toHone up their skills, attain career growth and realize their full potential. We


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shall build a dynamic organization driven by common goals and values,sharing competencies and practicing sound business ethics.

Owner- We shall endeavor to attain a profitable planned growth for thecompany ensuring our stock holders a reasonable return for theirinvestments.

Community - we shall be a responsible corporate citizen cognizant of oursocial responsibilities. We will uphold the principle of respect and cooperation withvested authority. We will be concern with the welfare of the community where welive and conduct business.

MISSION STATEMENT

We are committed to deliver the highest quality of coated steel productsand provide best services to our valued customers. We shall endeavor to be adependable supplier for downstream steel industries in term of supply reliability,price competitiveness and service delivery.

Quality policy

World class quality through customer satisfaction

We the management and staff of XYZ Steel Corporation aim to provide productsand services which will satisfy our customer requirements.

To achieve these objectives, it is our policy to maintain efficient and effective

quality assurance program, planned and developed in conjunction with thefunction of the organization.

It is then the responsible of our organization to ensure that this quality assuranceprogram shall be carried out effectively, continuously adequate, well understoodand practiced by all.

(See attachments in the next page)


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*THE PLANT LOCATION

* THE GEOGRAPHICAL& VICINITY OF THE COMPANY

XYZ Corporation LocatedArea from

Philippines map

where the STL

Corporation

Located

Legend:


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III. STL COMPANYS FLOW CHART


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RECEIVING TO INVENTORY PROCESS FLOW CHART

Receiving of Materials Issuance of Materials Delivery of Materials Physical Inventory &Reporting

SALESDEPARTM

ENT

PLANT

MANAGER

ACCOUN

TING

DEPART

MENT

PRODUCTIONDEPARTMENT

WAREHOUSEDEPARTMENT

Receive Bill

of Lading

Unloading &

Physical

Counting

Preparation

of MIRR

Checking of

Stocks

Availability

of Materials

EDSA

Production

Request

Prepare

WISS

Issue WISS

Production

Process

Furnish

DailyProduction

Report

NO

YES

Checking of

ProductionAccomplishment Report

Approve

Production

Accomplish

ment Report

Production

Accomplishment Report

Production

Accomplish

ment Report

WISS

MIRR

Production

Accomplish

ment Report

Record the

Report as

reference

for delivery

of materials

Check

Produced

materials

Prepare

Delivery

Receipt

Unloading &Physical

Counting

Delivery

Receipt

Sign the

deliveryreceipt

Delivery

Receipt

Sign the

delivery

receipt

Release for

delivery /

shipment

Prepare

WeeklyInventory

Report

Weekly

Inventory

Report

Check /

Inspect

Loading ofmaterials

Facilitate

delivery

report

Delivery

Receipt



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IV. THE NARRATIVE

TABLE OF ENTITIES

Para Line Text

1 12345678

9

STL Companyuses the following procedures inreceiving the inventory. Warehouse department receivesthe Bill of Lading upon sending the goods. Upon receivingit, they unload and do the physical counting and in turn,leads them to the preparation of the MIRR. Based on thesaid MIRR, they will determine and check the stocks byknowing if there are any availability of materials. If thereare no materials available, they will issue EDSA

Production Request. Otherwise, they will prepare theWISS and issue a document about it.

2 101112131415161718

After the process made in the Warehousedepartment, the production department then will beaccountablein production. After producing it, they willfurnish and producethe daily production report andaccomplishment report.After that, they will send it to theaccounting department for them to double check the saidaccomplishment report. Continuously, they will send it tothe plant manager for the direct approval. Right after theapproval of the plant manager, the sales department will

record the report as reference for delivery of materials.

3 1920212223242526272829

In delivering of materials, the WarehouseDepartment is responsible in releasing thedelivery/shipment. After which, physical inventory andreporting shall be made by preparing the weeklyinventory report. The Accounting Department will signthe delivery receipt followed by the Plant Manager whowill do the same task. Lastly, the Sales Departmentshould check the produced materials and prepare itsdelivery receipt. The unloading and physical countingshould be done immediately and so the checking andinspecting the loading of materials. It will then facilitatethe delivery report by producing the delivery receipt.


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RECEIVING AND ISSUANCE OF MATERIAL

Delivery of Materials, Physical Inventory and Reporting

Warehouse Department 24569

-Receive the Bill of Lading-Unloading and Physical Counting-Preparation of MIRR-Checking of Stocks-Prepare WISS *(If there are any availability ofmaterials, proceed to the issuance ofthe WISS).

Production Process 1112

-Production Process-Furnish of Daily Production Report*

Accounting Department 15 -Checking of the ProductionAccomplishment Report

Plant Manager 16 -Approve Production AccomplishmentReport

Sales Department 18 -Record the Report as reference for deliveryof materials

Warehouse Department 2022

-Release for the delivery orshipment-Prepare weekly inventory report

Accounting Department 22 -Sign the delivery receipt

Plant Manager 23 -Sign the delivery receipt

Sales Department 242526272829

-Prepare delivery receipt-Check produced materials-Unloading and physical counting-Check and inspect loading of materials-Facilitate delivery report-Delivery Receipt


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V. ACKNOWLEDGEMENT

The AC508 students would like to express their deepest and warmest

gratitude to the following for their unconditional assistance which have all

accounted for the completion of this research project.

To Architect Giovanni Francis T. Palisoc, Plant and Administration

Manager for the patience and supervision during the production tour even

for the short notice given and for handing out company papers that will be

useful for the accomplishment of the project.

To Mr. Keith A. Ortega, Accounting OIC and Administration Officer for

information regarding the accounting process of STL Corporation.

To the management and staff of STL Corporation for the warm

accommodation and hospitality given to the students during the visit

conducted.

To Mrs. Marilyn U. Cortes, CPA, MAIA for the guidance and support

given to her students.

***

AC 508 (AIS) StudentsMW 1:30 3:00PMA.Y. 2011-2012


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VI. BIBLIOGRAPHY

Operations Management of XYZ Steel Corporation: Basis for

Improvements (Abella, Karen S., Dejito, Louie G., Lomocs, Kennex Lyn

B., Matidios, Analyn L., Villegas, Rhea Mae M.)

http://www.puyatsteel.com

Cost Accounting, Carter, 14th edition

Accounting Information System, Gelinas and Dull, 7th edition

***


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