Inventory Management

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Chapter 1

1.0 Introduction
Beximco Pharmaceuticals Ltd. is a leading edge pharmaceutical company and is a member of the BEXIMCO Group, the largest private sector industrial conglomerate in Bangladesh. The strategic strengths of Beximco Pharma are its strong brand recognition, highly skilled work force and diversified business mix. Beximco Pharma brands - Neoceptin R (Ranitidine), Napa (Paracetamol), Amdocal (Amlodipine), Neofloxin (Ciprofloxacin), Bexitrol F (Salmeterol Plus Fluticasone), Bextrum Gold (Multivitamin and Multi Mineral) and Atova (Atorvastatin) are among the most recognized brands in the Bangladesh Pharmaceutical industry. Beximco Pharma started its operation in 1980, manufacturing products under the licenses of Bayer AG of Germany and Upjohn Inc. of USA and now has grown to become nation's one of the leading pharmaceutical companies, supplying 15% of country's total medicine need. Today Beximco Pharma manufactures and markets its own `branded generics' for almost all disease ranking from AIDS to cancer, from infection to asthma, from hypertension to diabetes, both nationally and internationally. Beximco Pharma manufactures a range of dosage forms including tablets, capsules, dry syrup, powder, cream, ointment, suppositories, large volume intravenous fluids, metered dose inhalers etc.

1.2 Objectives of the Study
The main objectives of this internship report are to analyze the Inventory Management of Beximco Pharmaceutical Ltd. and help management in future policy formulation that is likely to improve the quality of their Inventory Management.. The specific objectives are:

* To give a brief overview of Beximco Pharmaceutical Limited. * To be familiar with the corporate environment.
* To analyze the inventory management and forecast & recommend the future policy. * To know about the procedures Inventory Management System. * Determining the drawbacks of the existing system.

* To understand the flow of documents of each inventory in BPL * To provide some recommendations on the basis of my findings.

1.3 Methodology of the Study
This report has been prepared on the basis of experience gathered during the period of internship. For preparing this report, we have also got information from annual reports and website of the Beximco Pharmaceutical Limited. The details of the work plan are furnished below:

* Data collection method
Relevant data for this report has been collected primarily by direct investigations of different records, papers, and documents. The interviews were administered by formal and informal discussion and no structured questionnaire has been used.

* Data sources
The data and information for this report have been collected from both the primary and secondary sources. Among the primary sources, face to face conversation with the respective stuffs of the head office and the auditors of the company and practical work experience are important. The secondary sources of information are annual reports, company websites, different manuals and previous internship reports.

1.4 Limitation of the Study
* All the comments made, conclusions reached and suggestions for possible improvement provided are purely based on my level of understanding, knowledge and my way of interpreting a particular statement. * Beximco Pharmaceutical Limited follows a policy of not disclosing all the information needed to prepare my report for obvious reason. * Because of the lack of information, I have to make some assumptions that may cause few errors or personal mistakes in the report. * The report is mainly based on the information provided in the annual report of Beximco pharmaceutical Ltd. for the year 2006.

1.5 Literature Review
Inventory management is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. This process usually involves controlling the transfer in of units in order to prevent...
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