portfolio 3
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TRANSCRIPT
PRE 575SUMMER INTERNSHIP 2010VALSPAR CORPORATIONKANSAS CITY, MO
TABLE OF CONTENTS
Learning objectives/reflections…………….……3-4
Resume…………………………………………………..…..5
Sample of Work…………………………………….…6-10
The Valspar Corporation was founded in 1806. This was a very classic advertisement that could be seen in cities during the mid 1900’s.
Valspar has also acquired many home improvement companies such as Cabot. The 1980’s marked the beginning of many large acquisitions for Valspar.
LEARNING OBJECTIVES
Objective #1: By July 2nd, 2010, I will have collected 30 valuable paint samples from the lab technicians that I can use for my data collection project on sample costing.
Learning: Instead of waiting for lab technicians to call me to track a sample, I will actively approach at least 3 technicians every day so I can track them through the sample making process. Lab technicians usually forget to call in for a tracking, so I will eliminate this possibility by taking initial communication into my own hands.
Evaluation: My success in the sample costing project will be based upon the overall number of samples I have recorded, and of course, the accuracy of my data. If I collect at least 30 samples by Friday the 2nd, I will have sufficient data to build a spreadsheet on accurate sample costing.
Objective #2: By July 7th, 2010, I will have my sample costing spreadsheet completed. This
data will be the foundation of my overall sample costing project. Learning: After compiling the data of at least 30 useful test samples, I will spend roughly two entire work
days building a spreadsheet that I can present to my supervisors. I will have this spreadsheet completed by Wednesday so that, based on my supervisors recommendations, I can begin the next step of my sample costing project. By use of the import wizard on Excel, I will build this spreadsheet by consolidating multiple individual spreadsheets into one.
Evaluation: My performance will be judged on the accuracy of my data, usefulness of my data and the overall presentation of my spreadsheet.
Objective #3: By July 14th, 2010, I will have my entire sample costing project completed so
that my supervisors can collaborate on their new costing strategies. Learning: Based on the finished spreadsheet and the recommendations of my supervisors, I will create a
thorough analysis on exactly how much it costs to make a paint sample. I will take the data I collected and associate a specific cost with each individual process involved in sample making. I will sum each cost from each individual process to generate a total cost per sample trial.
Evaluation: My performance on the finished project will be judged by my ability to generate a project cost that is more accurate than what the company is currently using. If my project is accurate, my overall performance will be judged by the company’s ability to further cut costs and become more profitable.
LEARNING OBJECTIVE REFLECTIONS
Objective #1: I surpassed my original objective of trying to obtain 30 valuable lab samples for my time study. I collected roughly 45 useable samples that proved to be very useful to the Research and Development team in Kansas City. The goal was accomplished by my willingness to take the initiative to meet every single lab team member. After I had “broken the ice”, following a lab technician and collecting a sample was extremely easy. An originally grueling task was made much easier just by being open and friendly with co-workers.
Objective #2: I met my objective to have the master sample costing spreadsheet by July 7th. The hardest part, at first, was actually collecting the individual sample data. Once I had done this, it was simply a matter of playing with a couple excel tools to compile all the data I had collected. This was contrary to what I had originally anticipated. I had thought the data consolidation would take two full workdays. It only ended up consuming one half of a workday, as the excel tools were more efficient than I had originally anticipated. However, I did run into a couple grouping and organizational problems, due to the fact that I had roughly forty-five spreadsheets to consolidate. While this was a presented challenge, it only motivated me to work harder so I could meet my objective. That is why the learning objective assignment was so useful. It forced me to establish goals, which ultimately made me more productive in the workplace.
Objective#3: I did not entirely complete the original sample costing project. This was not my fault, as the logistics of my project had changed, as directed by my supervisors. Instead of taking the project all they way through to a per-pound cost analysis, all my managers ended up needing was my time study data. So, technically I did finish the project. However, it did not involve quite as much work as I had originally estimated.
SAMPLE OF WORK (1)
• This is a tolling template I constructed during my final weeks at Valspar. It is a “make versus buy” analysis used to determine the overall cost of making an order in-house versus outsourcing the order to another company. I made a discovery through this model that orders under 500 lbs should be made in-house.
• The most important thing I learned from this accomplishment was the fact that there are so many factors that tie into seemingly-simple business processes. While this spreadsheet may look small and straight-forward, it is actually tied into six other spreadsheets. This project contains roughly fifty compounded formulas.
Any order with a volume of 500 pounds or more is cheaper to outsource.
Any order less than 500 lbs is cheaper for Valspar to manufacture in-house.
SAMPLE OF WORK (2)• This is another spreadsheet I used to calculate a weighted labor rate. This was a very important component to the “make versus buy analysis” and was the first time anyone had calculated this for Valspar in Kansas City. While this is part of the supply chain project, it was like a “miniature” project within. Between data gathering and formula modification, this project took roughly ten hours.• The biggest thing I obtained from this project was the social work skill of not being afraid to ask questions. My managers have told me that interns generally don’t maximize their experiences because they are too afraid to ask questions. Calculating this weighted average overtime rate required me to contact several people within Valspar, even at the corporate office in Minneapolis. I also had to contact an old professor at KU, regarding an excel calculation.
SAMPLE OF WORK (3)• This is the “master” spreadsheet I generated from my sample costing time study in the R&D department. This is a consolidation of roughly forty-five other identical spreadsheets. I essentially had to follow a lab technician, right when they were starting a sample, record each listed process, and collect all other information about the sample.• The most valuable skill I took from this project was “soft skill”. In business, this skill is defined as the ability to effectively communicate with people in the workplace with drastically different personalities. Some of the lab technicians are shy and almost fearful about me timing them, while others enjoy a companion to talk to while working. Developing soft skills, in order to effectively get both our jobs done, was one of the most valuable skills I have acquired throughout my entire internship experience.
SAMPLE OF WORK (4)
• This is an actual packing slip that I had to file last month. This is one out of roughly eight-hundred packing slips I was required to file. Most of the information is boxed out for confidentiality, but it is a real scanned document.
•Taking away any valuable information or skill is hard to do when your only task is to file documents. However, I did learn that many business operations are not necessarily going to be intriguing. No matter how exciting the task may be at the workplace, it does need to be done. I originally hated filing these documents, but changed my values and thought process while doing it. Instead of thinking of it as useless work, I thought about the fact that I was getting paid for it and that it is very necessary for the success of the business. This is now how I will approach any task at work, no matter how mundane.
SAMPLE OF WORK (5)
• This was ultimately my final and most important work task at the Valspar Corporation. This is another Power Point that I was working on for a presentation to an executive that flew in from Minneapolis, just to hear the results my of project.• I took away more knowledge and business experience from this presentation than I have from anything else throughout my entire life. Presenting the results of the “Make or Buy” project to a Valspar executive was one of the most intimidating and equally exciting things I have ever done. I am hoping to work for the Valspar Corporation when I graduate, and I’m sure this presentation will have a lot to do with the company’s current evaluation of my work ethic. Needless to say, there was a lot riding on this. What I did learn, however, was not to be intimidated by whoever it is I am going to present to. Public speaking is something I have always feared. I learned to perceive the executive as just another person instead of a “top dog”. This allowed me to be myself and give the presentation in a very comfortable manner. I also learned that the work I have been doing at Valspar is going to benefit the Kansas City branch in a great way. The executive was very impressed with the data I presented and is now considering a $1.5 million investment in a new production line at the Kansas City plant. This provided me with a great sense of accomplishment and self-worth.