A Study On Marketing of Secondary and By-Products at Sail (Bokaro) "
A Study On Marketing of Secondary and By-Products at Sail (Bokaro) "
A Study On Marketing of Secondary and By-Products at Sail (Bokaro) "
CT INSTITUTE OF MANAGEMENT AND TECHNOLOGY In partial fulfilment of the requirement for the award of BACHELOR OF BUSINESS ADMINISTRATION 2010-2013 BY KISHOR KUMAR Reg No : 105702461272
Project executed at
Under the guidance of Mr. N. J PANDEY Asst. manager (Marketing) (Project Guide) Bokaro Steel Plant Jharkhand Mr. Gurpreet singh (Faculty Guide) CTIMT Jalandhar
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DECLARATION
I, Mr. kishor kumar, the undersigned, hereby declare that the project work titled the Pricing and Sales strategy of Secondary and by-products at Bokaro Steel Plant is bonafide work undertaken by me at SAIL (Bokaro) in Partial fulfilment of the regulations of CTIMT for the award of the BBA .
I further declare that no part of this report has been replicated from any other Project work, article or book.
Place: Bokaro steel City Date: (KISHOR KUMAR) Acknowledgement An endeavor is not complete and successful till the people who make it possible are given due credit for making it possible. I take this opportunity to thank all those who have made the endeavor of mine successful for me and for all.
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First and foremost I am very thankful to all the officers of Bokaro steel plant who really helped a lot and guided me throughout my training session, without their help I would have been unable to complete my project. These people really been kind enough in providing me all kind of available data and information. I would like to thank to Mr. A.J. KACHHAP (DGM, STORE), K.K. SANYAL (AGM, BPP), Mr. N. KHASNOBIS (Sr. Manager, SSD), Mr. A.K. MISHRA (AGM, S & C), Mr. C. SRIKANTA (DGM, Marketing) and Mrs. MEENA KAMAL (Sr. Manager, Marketing) and I must pay special thanks to Mr. N.J PANDEY (Asst. Manager, Marketing). All are from Bokaro Steel Plant. I extend my sincere thanks to Mr. GURPREET SINGH, Faculty Member, CTIMT, Jalandhar for having spared his valuable time with me and for all the guidance given in executing the project as per requirements. So, be taking a great opportunity to thank those entire people who help throughout my project. I also express my thanks to the officers and staff of the training institute, Bokaro Steel Plant. KISHOR KUMAR CONTENTS PAGE
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1.Executive Summary This study investigates the Pricing and Sales strategy of Secondary and by-products at Bokaro Steel Plant. This study is done for SAIL; BSL The present study was undertaken to see the mode of sale and pricing methods of Secondary Product of SAIL. Marketing Department is the newest genesis from the SAIL and attempts to reach their where no corporate has ever ventured so far. The survey was conducted in Marketing Department and Sales Coordination department. I was to find how auctions, fixed price and tenders are used for marketing purpose BSL. Various steps involved are as follows. To know about the e-auctions of marketing department. How they use this technique and 90% marketing and selling is done through auction and rest will be taken through fixed price selling and tenders. Data were mainly collected from marketing department of BSL. BSL is the largest Steel manufacturing sector of India and is top ranked in the global fortune 500 companies. During my training I had to find out mode of sale of secondary products of BSL. Primary products are sold by CMO, Delhi. I passed through various stages of problems and difficulties to accomplish the task of project work but it was a privilege for me to take this opportunity a challenging work to study and observe "pricing and sales strategy of secondary and by-products in BSL", which is a unit of SAIL. Bokaro Steel Plant recognizes that leadership is essential for survival in competitive environment; Customer's satisfaction like quality is a journey and not a destination. It is essential that everyone in the company have a clear understanding of what customer satisfaction means if the plant aim to achieve leadership in customer satisfaction. While improved customer satisfaction is necessary for ensuring prosperity of the company must also
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be recognized that ability of the company to satisfy its customers would depend on its ability to continuously improve its profit and growth. The basic objective behind the study carried out by me is to study the major contribution of Secondary product to total sales, which is pre-determining for the success of the company. By selling the Secondary product in local market company is earning profits. It is also creating an employment in small scale industries and developing the economy.
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India is the eighth largest producer of crude steel in the world, accounting for 3.37% of the global steel production in 2005. Indias finished carbon steel production grew to reach an estimated 42.63mmt in 2005-06; primary producers alone contributed about 38% whereas secondary producers contributed the rest. With reference in changes in economy Indian steel industry is poised for massive expansion. Dramatic consumption growth over the last few years has stimulated enormous expansion plans, facilitated by a relatively unexploited iron ore raw material base. India is now being hailed as the new China, where crude steel production soared from less than 100m tonnes in 1995 to over 400m tonnes in 2006.This report focuses on detailed study about the Indian Steel Industry. Steel became an integral part of development. It discusses basic steel manufacturing processes like Blast Furnace and, Electric arc Furnace, industry value chain with a special reference to major raw material trends and price trends of steel products. Demand supply dynamics has been discussed along with key growth drivers and Export-Import scenario. It also talks about Issues & challenges of the steel industry, mergers and acquisitions, government policies and regulations. Top 10 Leading Players in steel Industry have been profiled namely Steel Authority of India (SAIL), Tata Steel, ESSAR Steel and JSW Steel in this report and analyzed on the basis of financial and operational performance and compares their Competitive Positioning along with future outlook in the light of increasing trend in investments in the domestic industry .Steel Industry in India is on an upswing because of the strong global and domestic demand. India's rapid economic growth and soaring demand by sectors like infrastructure, real estate and automobiles, at home and abroad, has put Indian steel industry on the global map. According to the latest report by International Iron and Steel Institute (IISI), India is the seventh largest steel producer in the world. With reference to development which revised Indian infrastructure, the origin of the modern Indian steel industry can be traced back to 1953 when a contract for the construction of an integrated steelworks in Rourkela, Orissa was signed between the Indian government and the German companies Fried Krupp und Demag AG. The initial plan was an annual capacity of 500,000 tonnes, but this was subsequently raised to 1 million tonnes. The capacity of Rourkela Steel Plant (RSP), which belongs to the SAIL (Steel Authority of India Ltd.) group, is presently about 2 million tonnes. At a very early stage the former USSR and a British consortium also showed an interest in establishing a modern steel industry in India. This
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resulted in the Soviet-aided building of a steel mill with a capacity of 1 million tonnes in Bhilai and the British-backed construction in Durgapur of a foundry which also has a million tonne capacity. The Indian steel industry is organized in three categories i.e., main producers, other major producers and the secondary producers. The main producers and other major producers have integrated steel making facility with plant capacities over 0.5 mT and utilize iron ore and coal/gas for production of steel. The main producers are Tata Steel, SAIL, and RINL, while the other major producers are ESSAR, ISPAT and JVSL. The secondary sector is dispersed and consists of: (1) Backward linkage from about 120 sponge iron producers that use iron ore and non-coking coal, providing feedstock for steel producers; (2) Approximately 650 mini blast furnaces, electric arc furnaces, induction furnaces and energy optimizing furnaces that use iron ore, sponge iron and melting scrap to produce steel; and (3) Forward linkage with about 1,200 re-rollers that roll out semis into finished steel products for consumer use. Structural Weaknesses of Indian Steel Industry Although India has modernized its steelmaking considerably, however, nearly 6% of its crude steel is still produced using the outdated open-hearth process. Labour productivity in India is still very low. According to an estimate crude steel output at the biggest Indian steelmaker is roughly 144 tonnes per worker per year, whereas in Western Europe the figure is around 600 tonnes. India is deficient in raw materials required by the steel industry. Iron ore deposits are finite and there are problems in mining sufficient amounts of it. India's hard coal deposits are of low quality. Insufficient freight capacity and transport infrastructure impediments too hamper the growth of Indian steel industry. Strengths of Indian Steel Industry Low labour wage rates Abundance of quality manpower Mature production base Positive stimuli from construction industry Booming automobile industry
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Outlook The outlook for Indian steel industry is very bright. India's lower wages and favourable energy prices will continue to promise substantial cost advantages compared to production facilities in (Western) Europe or the US. It is also expected that steel industry will undergo a process of consolidation since industry players are engaged in an unfettered rush for scale. This is evident from the recent acquisition of Corus by Tata. The deployment of modern production systems is also enabling Indian steel companies to improve the quality of their steel products and thus enhance their export prospects.
2.1COMPANY PROFILE
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Steel Authority of India Limited (SAIL) is the leading steel-making company in India. It is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defense industries and for sale in export markets.
During struggle for independence, Pt. Jawaharlal Nehru, our first Prime Minister, had a very clear vision about the role of Steel in the development of our country. Although TATA Iron & Steel Company (TISCO) has been establishment in 1907 marking the beginning of Indian Steel Industry followed by Indian Steel Co. (1918), they were too small to meet the development requirements of a big country like ours. Therefore, in the 1st Industrial Policy Resolution of the Govt., soon after independence, Govt. decided to establish Steel Plants in Public Sector. However, work could be started at fast pace only in 1954, when Hindustan Steel Ltd., was formed and three Steel Plants of 1 MT capacity each, were established with provision of further expansion at Bokaro, Rourkela and Durgapur with assistance from USSR, West Germany and U.K. respectively.
To improve the functioning of Steel Industry, Govt. decided to form a holding company during 1972, which was named as Steel Authority of India Ltd., (SAIL) and the same was incorporated on January 24, 1973, with an authorized capital of Rs.2000 crores.
SAIL was formed by registration of a company under the companies Act and not by the Act of Parliament. Govt., decided to abandon the holding company concept in 1978 and a bill was presented to the Lok Sabha. Accordingly, SAIL was again recognized in the following manner.
Hindustan Steel Ltd., Bokaro Steel Ltd., Salem Steel Ltd., SAIL International Ltd., Bhilai Ispat Ltd., Rourkela Ispat Ltd., Durgapur Ispat Ltd., wholly owned subsidiaries of SAIL merged into it and started functioning as Units of SAIL.
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MECON, HSCL and NMDC become independent Companies and started functioning under Ministry of Steel. However, Kiriburu and Meghatuburu Iron Ore Mines were attached with BSL as their Captive Mines. Bharat Refectories Ltd. also became independent under the Ministry of Steel and refractory units also came under them. Thus, SAIL, at present, is having capacity of 12 MT of crude steel through its four integrated Steel Plants, at Bokaro, Bhilai, Durgapur and Rourkela. Two special steel plants at Durgapur and Salem produce a wide range of alloy and special steels. Marketing of the products from these plants is done through a country wide distribution network consisting of a chain of Stock Yards and distribution network. SAIL today is one of the largest industrial entities in India. Its strength has been the diversified range of quality steel products catering to the domestic as well as the Export markets and a large pool of technical and professional expertise. Ranked amongst the top ten public sector companies in India in terms of turnover, SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanized sheets, electrical sheets, structural, railway products, plates, bars and rods, stainless steel and other alloy steels. SAIL produces iron and steel at four integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials, including the Companys iron ore, limestone and dolomite mines. SAILs wide range of long and flat steel products are much in demand in the domestic as well as the international market. This vital responsibility is carried out by SAILs own Central Marketing Organization (CMO) and the International Trade Division. CMO encompasses a wide network of 38 branch offices and 47 stockyards located in major cities and towns throughout India. With technical and managerial expertise and know-how in steel making gained over four decades, SAILs Consultancy Division (SAILCON) at New Delhi offers services and consultancy to clients world-wide. SAIL has a well-equipped Research and Development Centre for Iron and Steel (RDCIS) at Ranchi which helps to produce quality steel and develop new technologies for the steel industry. Besides, SAIL has its own in-house Centre for Engineering and Technology (CET), Management Training Institute (MTI) and Safety Organization at Ranchi. SAILs captive mines are under the control of the Raw Materials Division in Calcutta. The Environment Management Division and Growth Division of SAIL operate from their headquarters in Calcutta. Almost all SAILs plants and major units are ISO Certified.
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The Government of India owns about 86% of SAIL's equity and retains voting control of the Company. However, SAIL, by virtue of its "Navratna" status, enjoys significant operational and financial autonomy
INTEGRATED STEEL PLANTS 1. Bokaro Steel Plant (BSL) in Jharkhand 2. Durgapur Steel Plant (DSP) in West Bengal 3. Rourkela Steel Plant (RSP) in Orissa 4. Bhilai Steel Plant (BSP) in Chhattisgarh
SPECIAL STEEL PLANTS 1. Alloy Steel Plant (ASP) in West Bengal 2. Salem Steel Plant (SSP) in Tamil Nadu 3. Visvesvaraya Iron & Steel Plant (VISL) in Karnataka
SUBSIDIARIES
1. Indian Iron & Steel Company Limited (IISCO) in West Bengal. 2. Maharashtra Electrosmelt Limited (MEL) in Maharashtra
OTHER UNITS
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Raw Material Division (RMD) at Kolkata, West Bengal Central Marketing Organization (CMO) at Kolkata, West Bengal SAIL Consultancy Division (SAILCON) at New Delhi
Research & Development Centre for Iron & Steel (RDCIS) at Ranchi, Jharkhand
Centre for Engineering & Technology (CET) at Ranchi, Jharkhand Management Training Institute (MTI) at Ranchi, Jharkhand Central Power Training Institute (CPTI) at Rourkela, Orissa SAIL Safety Organization (SSO) at Ranchi, Jharkhand Environment Management Division (EMD) at Kolkata, West Bengal Growth Division (GD) at Kolkata, West Bengal Central Coal Supply Organization (CCSO) at Dhanbad, Jharkhand
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JOINT VENTURE SAIL has promoted joint ventures in different areas ranging from power plants to ecommerce.
NTPC SAIL Power Company Pvt. Ltd Set up in March 2001, this 50:50 joint venture between SAIL and the National Thermal Power Corporation (NTPC) operates and manages the Captive Power Plants-II of the Durgapur and Rourkela Steel Plants which have a combined capacity of 240 MW.
Bokaro Power Supply Company Pvt. Limited This 50:50 joint venture between SAIL and the Damodar Valley Corporation formed in January 2002 is managing the 302-MW power generation and 1880 tons per hour steam generation facilities at Bokaro Steel Plant.
Bokaro Electric Supply Company Pvt. Limited 150 Another SAIL-NTPC joint venture on 50:50 basis formed in March 2002 manages the 74 MW Power Plant-II of Bokaro Steel Plant which has additional capacity of producing tones of steam per hour.
This 40:60 joint venture between SAIL and USX Engineers & Consultants, a subsidiary of the US Steel Corporation, promotes information technology in the steel sector.
Metaljunction.com Private Limited A joint venture between SAIL and Tata Steel on 50:50 bases, this company promotes ecommerce activities in steel and related areas.
SAIL-Bansal Service Center Pvt. Ltd. SAIL has formed a joint venture with BMW industries Ltd. on 40:60 bases to promote a service centre at Bokaro with the objective of adding value to steel.
North Bengal Dolomite Limited A joint venture between SAIL and West Bengal Mineral Development Corporation ltd on 50:50 basis was formed for development of Jayanti Dolomite Deposit, Jalpaiguri for supply of Dolomite to DSP and other plants.
Romelt-SAIL (India) Ltd Romelt Technology developed by Russia for reducing of iron bearing materials, which is carried out with carbon in single A joint venture between SAIL, National Mineral Development Corporation (NMDC) and Russian promoters for marketing stage reactor with the use of oxygen.
Bhilai JP Cement Ltd SAIL has also incorporated a joint venture company with M/s Jaiprakash Associates Ltd to set up a 2.2 MT cement plant at Bhilai. Likely to commence operations by March'2010.
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INTRODUCTION Bokaro Steel Plant - the fourth integrated plant in the Public Sector - started taking shape in 1965 in collaboration with the Soviet Union. It was originally incorporated as a limited company on 29th January 1964, and was later merged with SAIL, first as a subsidiary and
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then as a unit, through the Public Sector Iron & Steel Companies (Restructuring & Miscellaneous Provisions) Act 1978. The construction work started on 6thApril 1968. The Plant is hailed as the countrys first Swadeshi steel plant, built with maximum indigenous content in terms of equipment, material and know-how. Its first Blast Furnace started on 2nd October 1972 and the first phase of 1.7 MT ingots steel was completed on 26th February 1978 with the commissioning of the third Blast Furnace. All units of 4 MT stage have already been commissioned and the 90s' modernization has further upgraded this to 4.5 MT of liquid steel. The new features added in modernization of SMS-II include two twin-strand slab casters along with a Steel Refining Unit. The Steel Refining Unit was inaugurated on 19th September, 1997 and the Continuous Casting Machine on 25th April, 1998. The modernization of the Hot Strip Mill saw addition of new features like high pressure descalers, work roll bending, hydraulic automatic gauge control, quick work roll change, laminar cooling etc. New walking beam reheating furnaces are replacing the less efficient pusher type furnaces. A new hydraulic coiler has been added and two of the existing ones revamped. With the completion of Hot Strip Mill modernization, Bokaro is producing top quality hot rolled products that are well accepted in the global market. Bokaro is designed to produce flat products like Hot Rolled Coils, Hot Rolled Plates, Hot Rolled Sheets, Cold Rolled Coils, Cold Rolled Sheets, Tin Mill Black Plates (TMBP) and Galvanized Plain and Corrugated (GP/GC) Sheets. Bokaro has provided a strong raw material base for a variety of modern engineering industries including automobile, pipe and tube, LPG cylinder, barrel and drum producing industries.
Directions Bokaro Steel is working towards becoming a one-stop-shop for world-class flat steel in India. The modernization plans are aimed at increasing the liquid steel production capacity, coupled with fresh rolling and coating facilities. The new facilities will be capable of producing the most premium grades required by the most discerning customer segments.
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Brand Bokaro will signify assured quality and delivery, offering value for money to the customers.
VISION To be a respected worldclass corporation and the leader in Indian Steel business in quality, productivity, profitability and customer satisfaction.
Core Values
Satisfaction
Customer
Profitability
Consistent
of Excellenc e
Commitment
HUMAN RESOURCE
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SAILs total manpower at the end of 30 April, 2010 stood at around 26,288. The companys labor productivity 244.02 tones/man/year as on 30.04.10
As the name signifies, the department works with Ferrous [Iron & steel] scrap to salvage it & make it useful by adding value to it. SSD has a dual role to play in overall scheme of things in the works division. Primarily it has to supply Iron and Steel scrap to Steel Melting Shop (SMS) as a technological input in the Steel Melting process. Secondly, the role of SSD is to collect all the Ferrous Scrap (waste for the place of origin) and bring it to the department to transform it into a useful product. Every department of the plant from Coke Oven to Cold Rolling Mill produce mental waste termed scrap. This may be in the form of maintenance waste e.g. broken or worn out parts, damaged structure or equipment or may be process arising. The prime products continue on their production flow towards the final defined output, while the arising has to drop out as they are not suitable chemically, mechanically or by size and shape. In the shape of fish tails or irregular edge trimming or produce which are below the planned size. In a nut shell SSDs role is to ensure that all Iron and Steel Scrap (unwanted at place production) are transported to site processed and transformed to usable shape, size and quality (free of slag etc.) and transported SMS Magnetic Scrap Yards for using as coolant in the converter bath. Surplus scrap after supplying the requirement of scrap is offered for external sale to generate cash resources for the Company.
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TYPES OF PRODUCTS
In Bokaro Steel Plant, the finished products are categorized into three parts:
1. Prime Products: These are the actual products, which are originally produced for example, blooms, billets, channels, rounds, angles etc.
2. By-Products: These products are not originally produced by Bokaro Steel Plant, but are outcomes while producing the prime products.
3. Secondary Products: These are the defectives or rejected materials due to improper mixing of chemical components or fail to meet the optimum requirements. Scraps generated inside plant are also termed as Secondary products. The secondary products used here in after will mean ferrous materials generated from various production units which can either suitably be used for remelting to produce iron and products or offered for sale if rendered surplus in production process for example Defective Heavy blooms, Defective Rails, Rail cutting, Rod cutting, Scrap etc.
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(A) REROLLABLE/IRON AND STEEL SCRAP/BFG SLAG 1. MS SLAB END CUTTING WITHOUT FISH TAIL 2. MS THICLE PLATE CUTTING (25-40 MM) MIXED W.FR. 3. SPILLED HOT METAL (10 MT AND BELOW) SMS ARISINGS. 4. LIQUID NITROGEN. 5. FINE IRON CHIPS FROM IMP (FE-70% APP). 6. FERROUS SIELPHATE LOOSE. 7. BE GRNAULATED SLAJ (BOTH BY FIXED PRICE AND TENDER). 8. LIQUID ARGON. 9. PIG TRON. 10. TURNING & BORING.
(B) OTHERS 1. CARBIDE SLUDGE. 2. U/R AMC/MCB BRICKS. 3. U/R MAJ CHROME MAJ BRICKS.
(C) COAL CHEMICALS AND BY PRODUCT 1. MG BENZENE 2. NG TOLUENE 3. LS NAPTHA 4. SB OIL 5. HP NAPHTHALENE 6. ANTHRANCENE OIL 7. EXTRA HARD PITCH 8. HARD MEDIUM PITCH SOLID STATE 9. HARD MEDIUM PITCH LIQUID STATE
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The net sales realization from all the Secondary products, By-Products and co-products of BSL is around Rs.600 crores which is quite more than money the big industries. Out of this Steel Scarp arising itself brings about Rs.15200 cores of money every year. Re-production of main products from the; secondary products requires re-melting it again for the required composition of the materials as per the desired specification.
By selling it to the different Mills/traders/Processors the plant earn around Rs.4000 per tones of the direct profit than by re-producing it to the main product. The traders /processors/rerollers, use these as a raw materials for different finished products making huge profits, the plant is also not losing anything.
Profit is the main aim of every business, and when the realization of these products for the finished products proves to be costlier, the management plant decided to sell it to the local market.
By selling secondary Products to the Local market new industries are developed for re-rolling the Secondary materials to make finished products. It has also increased the small-scale industries and employment opportunities. Last year average price of scrap product were between Rs.12000/ton to Rs.16000/ton
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Latest Price of different By-Product which BSL were sold in April & May 09 with previous year price
Item Hard Med Pitch Ferrous Sulphate Naphthalene Anthracene oil Benzene Toluene LS Naphtha S Boil
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Marketing Department is one of the Departments under Materials Management Division of Bokaro Steel Plant. Marketing Department is entrusted with the responsibilities to sell BSLs Secondary Products, By-Products/Waste Products, and Idle Assets etc.
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The Marketing Departments sales procedures are covered by the guidelines given by SAIL Corporate office DELHI, and is given by CMMG (CORPORATE MATERIAL MANAGEMENT GROUP), the objective of which is To sell the materials in a fair and transparent manner to achieve maximum possible revenue to the company
(a) Marketing of prime products of SAILs plant including BSL is done by CMO (Central Marketing Organization) which is a unit of SAIL.
(b) Marketing of secondary products and coal chemicals are done directly by Marketing Department of BSL. As a matter of fact, the Secondary & By-Products are marketed by the individual Plants only.
Marketing of these products are conducted by various sections by marketing department of Bokaro Steel plants. It is engaged, with marketing of Primary Products for home sale or export through CMO. The 4.0 Million tones section known as plate mill section dealing with plates. Now this section has got ISO - 9002 certificate.
The secondary section deals with the secondary Products, it includes scraps of iron and steel slag, coal and coke fractions, coal chemicals. The Marketing development section deals with the MIS and strategic Planning activity come under this section. The Export section deals with the activities of the exports in respect of Iron and Steel items produced by Bokaro steel plant. ORGANISTATION CHART OF MARKETING DEPARTMENT (BSL)
GM (Marketing)
Jr. Mgr. (Co-ordn.)/Mktg. Cord, HK, Admn. & Est. Training Officer DGM (Mktg.) Audit, Vigilance, RTI, & other queries reply, Contract Cell(MM), Sec. Sales
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AGM(Mktg.) Sec. Steel Ad & Est, QC, ISO, DCA, Contract Cell(MM)
Sr. Mgr. (Mktg.) Coal& Chem., Zinc Dross, Ammonium Sulphate & Ferrous Sulphate
Jr. Mgr. (Mktg.) Secondary Steel, Safety Officer Jr. Mgr. (Mktg.)
FUNCTION OF MARKETING DEPARTMENT 1. To monitor the orders issued by CMO, So that these orders can fulfilled in time. 2. Put pressure on CMO, to get orders for an underutilized mill. 3. To sell all the secondary products directly i.e. directly by BSL and by CMO. 4. On day to day basis it takes care of the dispatches i.e. daily dispatch are checked.
POLICIES OF MARKETING
Marketing Planning has responsible function in the working of marketing department. All the risky developments, taking out solution to cripple `situations, this section carries out product
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pricing and related activities, some of the programmes, policies and procedures are as follows:-
I) Positioning the product a value based place in customer mind. II) Finalize annual sales plan and quantity, monthly, weekly, and daily rolling programme of Rolling mills in consultation with CMO and mills. This plan is based on the sales forecast receive from JPU SPL/ Iron and steel controller. III) Optimizing the product-mix by proper utilization of available stocks. IV) Receiving Enquiries and complaints, cancellation of orders etc. V) Coordinating the works of mills and traffic department so as to maximize dispatches. VI) Co-ordinations with CMO from stages of enquiry, for exports, development of new Profiles, sections, modification of product scheduling till the orders are completed. VII) Development of new qualities of steel. VIII) Periodical market surveys of products to analyze the market position. IX) Implementation of suggestions received from the customers feedback. X) Ensure customer satisfaction by meeting customers regularly; provide redress to their problems and fulfillment of demand.
Pricing policy and Sales Procedure: PRICING: Fixing the price of a product is the most vital function in the whole process of the marketing and it should be done after proper market study and requires decision making ability. If price is too low the company will lose revenue and if the price is too high it will lose customers resulting in loss of revenue valuable customers. Coal chemicals are the main product which is to be marketed by the Marketing Department of Bokaro Steel Plant. Almost all the products are sold on the fixed price basis. This is due to the fact that the company does not enjoy monopoly in the said market and the price is totally market driven.
The policy adopted by the marketing department for pricing of materials is largely guided by the price offered by the bidders during the auction. The various factors taken into consideration while pricing the re-rollable items can be enumerated as follows: (a) Prices offered in the auction sales.
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(b) (c)
The average of the prices offered by the bidder during auction is taken as the basis to fix the prices of materials to be sold through marketing department. Further the techniques of breakup-pricing are adopted i.e. the larger the quantity purchased lower will be the prices. This technique encourages the buyers to purchase larger quantity. Finally the managing director approves the prices set by the pricing committee. On this basis, a price list is prepared for all the potential buyers. Price list also indicates the sales tax and Excise duty to be levied. Thus the interested parties place their orders with the marketing department on the basis of price list reviewed every month. Every customer is required to have a security deposit amount of Rs.1 lakh. The payment for the material required is to be in advance. The material is supposed to be lifted on the specified date on account of delay the party has to pay the difference in the prices, if there is any increase in subsequent month. Standing Pricing Committee: The committee reviews the price of various products and takes decision in favor of maximizing the profit. It holds meeting at least once in a month. But the volatility of the market and pool of different products lead to a number of meeting of the committee in quick succession.
The committee consists of: GM (Utility), Chairman GM (Marketing), Convener DGM (Finance), member DGM (Sales Coordination), member DGM (Stores), member DGM (BPP), member
For Scrap goods the DGM (SSD) replaces the DGM (BPP). Rests of all the members are always present in all the meetings.
Dispatch of the last month. Material in stock. Forecast of next month. General market condition. Availability of transport facility.
GM (Marketing), as per the need, decides the frequency and time of meetings to be held. Minute report of all the meetings is prepared and it contains the existing price and the proposed price. The final price is moved to the MD through the official channel including GM (Marketing), Executive Director (MM), GM (Finance and Accounts), and ED (Works). After the MDs approval the price becomes applicable and the circular indicating the revised price is printed, issued and distribution to the customers and all the concerned departments. DISTRIBUTION For the purpose of distribution of steel (as per JPC) policy in fashion, customers are categorized into A, B, C & D. Priority sector customer e.g. Defense, Railways etc. are under category A and about 60% of the product allotted to them. The balance 40% is kept for the category B, C & D. On the other hand for sale of scraps there is no such policy adopted by Bokaro Steel Plant. Customers are served on first come first served basis.
CHANNELS Bokaro steel plant has zero level channels as it directly sells to the customers. There is no intermediate among producer and consumer. Marketing Department always remains in contact with the customers extracts information about the current market situation on the basis of interaction between them.
SALES PROMOTION Sales Promotion consists of a diverse collection of incentive tools designed to stimulate quicker or greater purchase of particular product. As a part of promotional activities, BSL is employing following activities: a) Discount slabs is provided to boost the sales, description of which is given below: Up to 10,000 tones ----No Discount
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b) To find new customers and to inform customers at far distant areas Tender Notice given in the newspaper for sale of scraps. Best among the application is accepted with a view to get the best revenue. c) Sometimes when new item is to be sold sales notice is given in the newspaper. But most of the time local customers get informed from other customers.
Steel being an industrial commodity it is very necessary to maintain customer relationship for profitability and smooth running of company.
a. Procedure / process adapted to access current / future expectation of customers. b. It induces market research visiting customer premises attending to customer complaints. c. CMO has Market Management Group where specialists monitor changing demand pattern and development in each Market segment is carried on. d. It has posted market development officers at various locations that are its eyes and ears for monitoring current and future expectation of its customer. e. The Business-planning department is exclusively meant to study customer's changing demand scenario and assess current and future expectation. f. To understand customer needs seminars and workshops are also organized by BSL.
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BSL has adopted the philosophy of recognizing segment of the market and identifying key customer in segment and giving them preferential treatment. CMO sales executives have been trained to use direct selling as tool for building long lasting relationship with the customers. Easy access to customers to seek assistance makes proposals send comments and compliments.
MARKET DEVELOPMENT BSL has valued customers group in identifying their specific needs Specific to that group thus segmenting and developing market segment for our products. Major product modifications are done as per their specific needs of the Market segment thereby creating product differentiation packages.
PRODUCTION ACCORDING TO MARKET NEEDS BSL is always in touch in market and try to produce according to market needs. BSL tries to produce quality products / new products which fulfill the need of market.
2. STOCK REDUCTION Giving facilities like door delivery, road dispatches, credits facility and rounds the clock stockyard operation.
PRICE FIXATION
Pricing is done basically by the CMO. Taking into consideration cost of production, government steps on pricing, certain percentage of profit, price of raw material fright charges etc. i.e. pricing is COST PLUS PRICING. 4 DESPATICH
As the product is manufactured, this department directs the stockyards the mode of transport to the destination with reference to dispatch program and dispatch advice is mode.
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5 DOCUMENTATION With the dispatch of product the Finance department calculates the total cost of product as per demand order. Certain receipts and bills quoting the material code, nature, quantity, and all expenses are sent to connected stockyard. The product will be then released to the concerned person after proper and complete payment to the pay-in- authorities is made.
During the seventies and sixties when the plant was one million-tones and2.5 million-tonnes capacity respectively, arising of secondary products was limited and such arising was recycled for re-melting. Therefore there was no scope for marketing in other words it was not economical. The plant capacity has been increased from 2.5 million tons to 4 million tones in the late sixties. New technology has been adopted while increasing the capacity of the plant where by the use of arising for re-melting drastically reduced. This has given more impact to the making of secondary product.
In the nineties we have seen lot of changes in the economic scenario of the country. The concept of more employment in Public Sector Enterprises has changed to more profits. There by the plant also has geared up its strategy towards this end. One of the strategies adopted by the plant for increasing the profit is marketing of secondary products.
In the recent years a number of foundries and re-rolling Mills come into existence throughout the country. These small scales Sector need the "Secondary products" as input raw material for their production. The company has engaged in educating them the use of secondary products for different kinds of end products for consumption of general public. The plant extends all types of facilities and assistance to these small-scale units. This, in turn gives scope for more employment opportunities.
The plant for marketing has adopted following strategy: 1. 2. 3. 4. Committed delivery. Competitive price Quick complaint settlement. Culture of customer service.
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It is necessary to mentioned here that the companies' profit consists of 10% turnover of secondary products for the Last two years.
1. Marketing Recovery Department (MRD) works out the quantum of different types of scrap available for sale on monthly basis. This is determined by ascertaining the total scrap stock at the beginning of the month. Scrap arising during consumption. The remaining quantity is considered for sale. A, monthly report on availability of scrap is prepared by MRD and sent to marketing department.
2. Marketing Department finalizes the plan for actual quantity of scrap to be sold in consultation with MRD. Marketing department finalizes mode of sale, terms and conditions for sale, locations and commercial aspects.
3. The pricing committee consist of Managing Directors fixes the price of each type of scrap.
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PROCEDURE APPLIED FOR SALE OF SECONDARY PRODUCTS 1. After obtaining approval of quantity and price for sale, Marketing department scrutinizes the demand from various parties, examine the Priorities and issue "offer letters" to respective parties. The terms and conditions for sale are also enclosed with the "offers Letter" 2. About one third of the quantity of material to be sold during the year is offered to the actual users, subject to registration of demand.
3. For the balance quantity to be sold at prices fixed by pricing committee, preference is given to actual users over traders. If there are no actual users, the material may be offered to traders giving preference to registered traders over others.
4. First preference is given to the actual users for allotment of scrap against particular category of users. Scrap processing units are given second preference for such allotments.
5. The amount received from the party towards advance payment and security deposit is forwarded to finance department by marketing department after recording the details in the register.
6. Parties are allowed to visit the respective location disposals site, and inspect the scrap offered for sale.
7. Marketing department prepares sale order for the parties who have accepted the offer. Sale orders are issued party wise and category wise i.e. individual sale order covers such categories like C I scrap, steel scrap, re-rollable, slag and waste products. 8. Based on the deposit made by the party, finance department intimates to marketing department about release of requisite scrap for supply. THE STRUCTURE OF THE PROCESS OF SALES AND MARKETING
PRODUCTS
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SECONDARY/BY-PRODUCTS
CMO (KOLKATA)
BSL MARKETING
METHOD OF SELLING
E-AUCTION SALE
TENDER
STEEL
IDLE ASSETS
PRICING
DEMAND REGISTRATION OF BSL Marketing department of BSL sales homogeneous steel scrap at fixed price. For this purpose the procedure for registration of demand and offers is as below:
1. Preference for sale of material given to local parties and those, which are actual customer. Material is not sold for trade. 2. Sale of material made to re-rolling mills and scrap processing units and the lots of sale between them maintained at 67:33. 3. Based on the above consideration offer letter issued to the party offering a quantity, which has been lifted by them during the last preceding year or allocated by the state
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industries, Department. In the offer letter party is advised to complete commercial formalities e.g. submission of Die Registration Certificate etc.
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This involves a direct marketing process. The management of BSL in consultation with the official of the market development and customer service department work as group for the sale of these items. Different modes of selling are used for these products
MODE OF SALE
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Tender
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Bokaro Steel Plant is the largest steel plant in India. It is the fourth integrated public sector steel plant in India built with Soviet help. It is hailed as Indias first swadeshi steel plant, built with maximum indigenous content in terms of equipment, material and know how. Brand Bokaro signify assured quality and delivery, offering value for money to the customers. It is situated in Jharkhand. The company has to identify what all improvement should be done to increase the sales of its secondary and by-products and where the products of BSL are lacking as compared with the competitor.
Though Steel Authority of India Limited (SAIL) is the leading steel maker company in India, the customers of secondary and by-products prefer other steel company for purchasing secondary and by-products due to the higher price of secondary and by-products of Bokaro steel plant.
To know the customer preference of different secondary and by-products brands with their corresponding prices and selling procedures among customers Hence on, to provide information that will help SAIL to improve its service and be competitive with other brands (Tata, Essar, Ispat) in the market.
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To find the extent to which price affect the sales of secondary and byproducts. To find the view of customers on the pricing and selling methods of secondary and by-products adopted by BSL. To find the reasons for brand preference. To find the extent to which price affect the sales of secondary and byproducts. To find the selling methods preferred by the customers.
The study was conducted over a period of one and half months from Mid April to May, 2010. The study includes the customers of secondary and by-products in Bokaro district
Type of Research- Descriptive Research Data Source Primary Data: Interview, Questionnaires. Secondary Data: Internet, previous and current records and published by BSL. magazines
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Area of study- Bokaro district Population- Customers in the towns of Bokaro district Sample Size- 25 customers Data analysis and interpretations using percentage analysis
4.4 DEFINITIONS
1. PRICING STRATEGY: Pricing strategy is the price planning that takes into view factors such as firms overall marketing objectives, consumer demand, product attributes, competitors pricing and, market and economic trends
OPERATIVE DEFINITION: The term pricing strategy here means the link between BSL objectives, financial goals, brand promise, merchandising strategies and price on the shelves of Secondary and By-products taking into consideration the strategy of its competitors.
2. SALES STRATEGY:
Sales strategy is the planned approach- management, policy formation, prospect identification and qualification, sales presentation and order generation aimed at achieving a firms sales quotas or targets.
OPERATIVE DEFINITION: The sales strategy in this research is referred to as the sales presentation, prospect identification, policy formation, order generation of BSL aimed at achieving BSL sales targets. Their aim to achieve sales targets of Secondary and By-products is studied here.
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Classification of customers
Trader 6
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Manufacturer 14
Processor 3
others 2
Interpretation The above graph shows the different category of customers for secondary and byproducts. Manufacturers were found to be highest among the different types of customers.
Quality 11
Cheap transportation 7
Local market 5
price 2
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Interpretation It was found from survey that most of the customers of secondary and by-products prefer to purchase from BSL because of local market and quality.
Yes 23
No 2
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Interpretation Most of the customers of secondary and by-products of Bokaro Steel Plant are satisfied with the quality of the product.
Secondary steel 10
By-products 11
Slag 3
Idle assets 1
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Interpretation Most of the customers of secondary and by-products in Bokaro district deals with the secondary steel and by-products. Though idle assets and slag also generate huge revenue to Bokaro Steel Plant but there are only few customers of idle assets and Slag are in Bokaro district.
Brand familiarity
Yes 18
No 7
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Interpretation The customers of secondary and by-products are dealing mainly with two brands. Most of the customers are dealing with BSL and TATA steel both. Some customers are dealing with BSL and ISPAT steel and ESSAR steel.
Low price 4
High quality 7
Better service 5
others 1
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Interpretation The diagram indicates the reason for selecting more than one company for purchase of secondary and by-products. Most of the customers prefer due to high quality of secondary and by-products in other steel plant while some prefer other steel plant because of better service that they get in other steel plants.
Yes 20
No 5
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Interpretation This clearly indicates that there is a price difference between BSL secondary and by-products to other steel plants. Hence, to be in competition with other steel plants secondary and by-products, BSL has to decrease its price of products. Since, cost conscious customers always go for a brand that serves his purpose at a minimum cost.
Yes 14
No 11
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Interpretation Most of the customers find difficulties while dealing with Bokaro Steel Plant. Most of them find lack of single window system while dealing with BSL. This leads to slow process of trading. Some customers also want better customer service.
Yes 3
No 22
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Interpretation Most of the customers believe that the current selling methods adopted by Bokaro Steel Plant are good. Only 3 customers found better selling methods adopted by other steel plants.
Complain registered
Yes 11
No 14
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Interpretation Most of the customers do not complain about the problem they faced while trading with BSL because they dont feel management will be serious about their problems. So, customers confidence towards management of BSL should be increased.
Complaints executed
Yes 7
No 4
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Interpretation Only 11 customers said that they registered their complaints about the problem they faced in trading with BSL. Out of which 7 said that their problems are executed. So, BSL is friendlier towards customers.
Benzene 9
L.S. Naptha 1 2
Anthracene oil 2
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Ammonium sulphate 9
Interpretation To get the information about types of by-products purchased by customers is also very important. Since, each customer buys different types of by-products. Most of the customers buy more than one by-products.
Below 2 years 4
2years-4years 5
above 4 years 16
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Interpretation Of the customers of Bokaro steel plant secondary and by-products most of them are trading with more than 4years. This may be the reason for the large customer base of BSL in secondary and by-products market.
Fixed price 4
e-auction 21
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Interpretation Most of the customers prefer e-auction because it is easy and fast method for trading unlike other methods. Customers get their value for the time they spent in trading in e-auction
Mode of transportation
Railways 7
roadways 18
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Interpretation From the survey it was found that most of the customers of BSL are using roadways for transporting materials from Bokaro steel plant because most of them are purchasing secondary steel and that are mostly transported through roadways in local market.
Quality 15
Price 3
Availability 9
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Interpretation The main benefits customers receive while trading with Bokaro steel plant is quality of secondary and by-products. Availability of products is 2nd major benefits that are received by customers. Most of them receive a combination of benefits from BSL.
Yes 7
No 13
Somewhat 5
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Interpretation The above graph shows the satisfaction level of customers regarding volume limit for the purchase of secondary and by-products. Most of the customers are not satisfied with the volume limit of products.
Good 22
Bad 2
Excellent 1
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Interpretation This indicated the experience of customers with the marketing personnel while trading with BSL. Most of the customers are having good experience with the marketing personnel. Few customers are having bad experience with marketing personnel.
Highly dissatisfied 2
dissatisfied 4
neutral 5
satisfied
highly satisfied 13 1
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Interference The accessibility of the information about the bids to be taken place is very important because it increases the number of customers in the bids and hence market becomes competitive. Most of the customers are satisfied about the accessibility of the information.
Good 20
bad 2
poor 2
excellent 1
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Interpretation From the survey it was found that most of the customers of Bokaro steel plant are happy with the order handling procedures of Bokaro steel plant. Since, there is a lot of competition in market for selling of secondary and by-products. So, for being in the competition with other steel plants BSL is having good order handling procedure and that will make his customers happy.
Yes 12
no 13
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Interpretation Price is one of the most important factors which customers are taking in consideration while purchasing products. From the survey it was found that customers are not happy with the price of the product. Hence, BSL should decrease its price of the products.
Yes 21
no 4
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Interpretation The customers of secondary and by-products in Bokaro steel plant are satisfied with the current selling methods of Bokaro steel plant. Some of the customers are not satisfied with the current selling methods of BSL but they are not able to give proper reason for their dissatisfaction.
Highly dissatisfied 2
highly satisfied 10 2
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Interpretation The above graph shows the experience of customers while dealing with Bokaro steel plant. Most of the customers said that they are satisfied with the experience while trading with BSL. But, there are a large number of customers who also said that they are not happy with BSL.
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SUMMARY OF FINDINGS
1. Most of the customers belong to the category of manufacturers i.e. they are using secondary and by-products of BSL as a raw material.
2. Majority of customers prefer to purchase secondary and by-products from Bokaro steel Plant because of local market and quality but they find price is higher compared to the quality.
3. Majority of the customers are satisfied with the quality of the secondary and byproducts of BSL and that is a big advantage for BSL.
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4. Of the four major types of products produced by BSL in Secondary and byproducts division, most of the customers are purchasing secondary steel and byproducts from BSL.
5. Most of the customers deal with Bokaro steel plant and TATA steel for purchase of secondary and by-products.
6. Low price, better service and high quality are the major concerns that the customers looks into for preferring a particular steel plant for secondary and byproducts.
7. Majority of customers responded that other steel plants are providing secondary and by-products at a lower rate.
8. Most of the Customers responded that they find difficulties while dealing with BSL.
9. E-auction is the most reliable selling method and majority of customers are happy with it. The other methods of selling adopted by BSL like tender, fixed price are same as the other steel plant and customers are satisfied with those selling methods.
10. Most of the customers dont register complain about the problem they faced during purchase but majority of customers who registered their complain get solution for that. So, BSL has to increase the confidence of customers on them.
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11. Among by-products category of products Benzene, Toluene and Ammonium sulphate are having highest number of customers.
12. Most of the customers are loyal to BSL because most of the customers are dealing with Bokaro steel plant for more than 4 years.
13. Roadways are the most common mode of transportation used by customers because all belongs to local market. Some of the customers are using Railways for the transportation because by-products are mainly transported through railways.
14. Quality, availability and transportation are main benefits that the customers of secondary and by-products of BSL receive from Bokaro steel plant. Only few customers responded that price and discount are the benefits they receive from BSL.
15. Most of the customers are not happy with the volume limit that they receive from BSL.
16. Most of the customers responded that they are satisfied with the information provided by BSL about the bids to be taken place but few customers are also not happy with the information provided by BSL.
17. Majority of the customers responded that they are happy with the order handling procedures of BSL.
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18. Majority of the customers responded that that they are satisfied with the overall experience while dealing with Bokaro Steel Plant.
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The main issue attached with Bokaro Steel Plant secondary and by-products is that most of the customers finds its price higher than the other brands of secondary and by-products available in the market. Since, customers are now conscious about cost cutting measures so they other brands over BSL. Local market is one of the most important advantages than BSL is enjoying over a period of time but, due to set up of new steel plants in nearby places few years from now it will no longer be an advantage for BSL. So, BSL should have to work on decreasing the price of its secondary and by-products and also increase its quality. Since, from the survey it was found that most of the customers are purchasing secondary steel and by-products from BSL. So, BSL should have to work on the increase of production of these products and also decrease the price of those products to be competitive in the market. Most of the customers are also purchasing secondary and by-products from TATA steel because of the lower price and easy method of purchase although TATA steel is far from Bokaro district because of better service. So, Bokaro steel plant should have to work on to provide better service for customers. Since, majority of customers dont register complain about the problem they faced during trading although most of the problem that are registered got executed. Hence, BSL should have to work on to improve confidence of customers on them. Benzene, Toluene and Ammonium sulphate are having highest consumption among by-products. So, products of mainly these by-products have to be increased.
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The BSL secondary and by-products customers are having faith in the quality of these products. So, this should be maintained at any cost and BSL should have to decrease the price of its secondary and by-products to maintain its customer base.
CHAPTER 7 BIBLIOGRAPHY
BIBLIOGRAPHY
Books referred Kotler Philip, Keller Kelvin, Koshy Abraham, Jha Mithileshwar; Marketing Management; New Delhi, Published by Dorling Kindersley (India) Pvt. Ltd.
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Malhotra N.K.,Marketing Research- An applied orientation, New Delhi, Prentice Hall of India Private Ltd.
Training manual
Books of organization
Websites referred
www.sail.co.in
www.metaljunction.com
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CHAPTER 8 ANNEXURE
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QUESTIONNAIRE 1. In which category of customer do you belong? a) Trader b) Manufacturer c) Processor d) Others 2. Why do you prefer to purchase from BSL? a) Quality b) Cheap transportation c) Local market d) price 3. Are you satisfied with the quality of the product? a) yes b) no 4. If No then what would be the reason for such a decision? a) High cost b) Low quality c) Poor distribution d) Others(please specify)
5. What type of products do you purchase from BSL? a) Secondary steel b) By-products c) Slag d) Idle assets 6. Are you dealing with any other company other than BSL?
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a) Yes. (please specify the name) b) No 7. If Yes then what would be the reason for selecting other company? a) Low price b) High quality c) Better service d) Better selling methods e) Others. (please specify) 8. Do you find any difference in price of secondary and by-products of BSL with other plants that you are dealing with? a) Yes b) No 9. Have you faced any difficulties while dealing with the BSL? a) Yes (Please specify the reason) b) No 10. Do you find better selling methods adopted by other plants for selling of secondary and by-products? a) Yes.. (please name that method) b) no 11. Did you complain about the problem faced? a) Yes b) No
12. Did complains get executed? a) Yes b) No 13. Which types of by-products do you deal with? a) Benzene
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b) Toluene c) S.B. Oil d) Hard medium pitch e) Extra hard pitch f) L.S. Naphtha g) Anthracene oil h) Ammonium sulphate 14. Since when you are dealing with BSL? a) Below 2 years b) 2years-4 years c) Above 4 years 15. What type of pricing method preferred by you while you are dealing with the BSL? a) Fixed price b) E- auction
16. What mode of transportation are you using? a) Railways b) Roadways 17. What are the main benefits which you receive from BSL? a) Quality b) Price c) Availability d) Transportation e) Discount structure 18. Does the volume limit of secondary products, for bidding, help satisfy your needs? Yes No Somewhat
Good
Bad
Excellent
20. Overall how will you rate the accessibility about bids to be taken place? (Rank on scale on 1-5 in which 1 means highly dissatisfied and 5 represents highly satisfied)
21. How do you rate the order handling procedure of the BSL? Good Bad Poor Excellent
22. Are you satisfied with the price of the secondary and by-products? a) Yes b) No 23. Are you satisfied with the current selling methods of BSL? a) Yes b) No(please specify the reason)
24. Overall how will you rate your experience while dealing with the BSL? (Rank on scale on 1-5 in which 1 means highly dissatisfied and 5 represents highly satisfied)
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Thank you for your sincere co-operation. NAME OF THE CUSTOMER- PLACE- . DATE- .... CONTACT NO. -
ABBREVIATION
1. SAIL 2. TISCO 4. HSCL 5. NMDC 6. RDCIS 7. CET 8. CPTI 9. MRD 10. BFGS
- Steel Authority of India Limited. - TATA Iron and Steel Company. - Hindustan steel works consultants Ltd. - National Mining Development Corporation ltd. - Research and Development Centre for Iron and Steel. - Centre of Engineering and Technology. - Central Power Training Institute. - Marketing Recovery Department. - Blast Furnace Granulated Slag.
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