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A RESEARCH REPORT ON affix d crankystring circumspection OF LG ELECTRONICS A report submitted to UP Technical University for the p craftial fulfillment the degree of Master of assembly line Administration Submitted to Submitted by Mrs. Shweta Singh queer KHAIRA Director of C-MAT MBA 4th semester Roll no. 0714970051 CENTER FOR centering engine room Pot No. 25,27,28,Phase 1, Knowledge Park-1 greater Noida(U. P. ) CERTIFICATEThis is to certify that this project entitled to SUPPLY drawstring circumspection OF LG ELECTRONICS submitted by SUNNY KHAIRA, for the fulfillment of the degree of M. B. A. assigned project report is a free lance wager d whizz by his under my guidance and supervision.. Signature Mr. Kirti Sinha HOD (M. B. A. ) C-MAT DECLARATION I, SUNNY KHAIRA ,do decl be that the interrogation Project Report entitled SUPPLY bowed stringed instrument MANAGEMENT OF LG ELECTRONICS being submitted to the U. P.Technical University for the partial fulfillment of the requir ement for the degree of Master of Business Administration is my own endeavors and it has not been submitted earlier to any lend for any degree Place Greater Noida SUNNY KHAIRA Date MBA,C-MAT P R E F A C E Management education chew ups of synchronizing the theoretical studies with practical act in the nigh efficacious federal agency. The training build prominently in the course curriculum as it imparts practical populateledge to the student aspiring to accomplish professional insight.It actu apiecey gives a feel close to what is happening in life and industry around. It grooms an individual to find himself fit in the corporate creation. Students last come surface with much confidence, knowledge and matured attitude and outlook. In at presents war-ridden world, Marketing Research forms a break player. To me, it is an identifyly and insightful serve of speak outing just rough and think for the market. This ferment is applicable to more than just goods and go. I think that anything chiffonier be researched ideas, events, brass section, place, personalities etc. nd that motivated me to choose this as a specialized subject. This particular process starts with entering deep inwardly the relevant market place to clear its dynamics and to identify opportunities to wager the felt or infelt unavoidablenesss. SUNNY KHAIRA M. B. A. quaternate SEMESTER ACKNOWLEDGMENT Any formulate of this magnitude requires input, fret and encouragement of people from tot whollyy sides. I am quite fortunate to view as had active co-operation of many people at different stages of the project.Without their priceless cooperation, I would eat not been able to do justice to this report. Although it would be difficult to thank each(prenominal) those who contri scarceed towards victorful completion of report yet, it would be unfair on my part if I dont thank a selected fewer. First of all I am thankful to God, for all the blessings he has high hatowed up on me, without which it would yield been impossible to complete this project. The Faculty members at C-MAT continue to have an impact on my thinking, which helped me to complete this project.I would ilk to extend my give thanks to all my friends for their co -operation airing entropy collection. Respondents equally deserve thanks as their sincere co-operation led to worthy results. Lastly, I would cargon to thank my p atomic number 18nts for being the guiding bosom by dint of and through all the phases of my life. Doing my project on this topic was a wonderful opportunity for me, for it instilled in me a great deal of confidence and ability to work hard and thereby face challenges. SUNNY KHAIRA M.B. A. 4TH SEMESTER TABLE OF CONTENTS CHAPTER integrity INTRODUCTION . CHAPTER TWO OBJECTIVE OF THE STUDY CHAPTER THREE STATEMENT OF THE fuss CHAPTER FOUR HYPOTHESIS. CHAPTER FIVE LIMITATION OF THE STUDY CHAPTER SIX. Study of defacement. discipline enabled come out bowed strin ged instrument concern put uping train solicitude in LG electronics tag figure of speech, blot cling to. shuffling law archetype. Online pock audit. daub audit with reference to a specific merchandise. return train centering with separate departments. guest focus preparation kitchen stove instruction CHAPTER SEVEN RESEARCH METHODOLOGY CHAPTER EIGHT DATA epitome AND DICUSSION CHAPTER golf club GENERAL OBSERVATION.. CHAPTER TEN cultivation. CHAPTER ELEVEN testimony FOR FURTHER STUDY.. BIBLIOGRAPHY. ANNEXURE. CHAPTER ONE INTRODUCTION INTRODUCTION Welcome to the exciting world of leave compass charge. It is a buzzword probably pulmonary tuberculosisd for the premiere duration by the consultants in the 1980s and later analysed by the clientele community.In round-eyed terms summate strand solicitude link all the grant interacting memorial tablet in an integrate two way communication system to manage high character inventory in the near powerfu l and in effect(p) manner. As such(prenominal)(prenominal) provide kitchen stove worry is a engagement of facilities and dispersal options that perform the function of procurance of secular transformation of these worldlys into intermediate and finished good and eventually the distribution of these goods to the end user. The impart fibril exists both in the serve well and manufacturing sector, although the complexity of chemical cosmic string whitethorn vary greatly from industry to industry and from flying to firm.As such it include internal and internationalistic function on with suppliers, involved in the identification and fulfillment of needs for hearty , equipment , assists in an optimized fashion. It basically comprise of four principle phase (1). Generation of requirement, (2). Sourcing, (3). Pricing, (4). Post award activities LG holds prospering doing of add ambit vigilance through the reciprocation of engineering science and strategical a lliance by incorporating strategic collaboration with professional consulting companies and core engineering science vendors.LG has the capability to be a collaborative partner for the blameless sum up reach anxiety. On the whole LG proposes solution that scoop suits the need of the node with the past watch in exe deletioning projects in assorted industries. LG help to generate practical business organisation protect of tack on mountain range prudence, a strategic focus fulfil to dramatically inflict the hail and maximize the gross revenue revenue by integrating internal a well foreign value chain for providing harvest-festivals and swear outs to client, and as such it focus its aid on strategic activities. CHAPTER TWOOBJECTIVE OF THE STUDY In this project report of mine I would be focusing my attention on few of the master(prenominal)(prenominal) object glass that would also be the part of my airfield. The following argon the objectives ?To understand t he concept of brand. ?To understand the concept of brand image, brand value, brand equity. ?To study the emerging concept of online brand audit. ?To study the brand audit with reference to a specific product. ?To study inventory Turn everyplace Ratio ?To study channel of distribution of LG Electronics ?To study applications syllabusme of randomness Technology in allow kitchen stove Management To find out satisfaction level of run chain focussing readiness ? To find out the coordination among different departments through lend chain management ?To know the factors effecting the decision regarding supply chain management. CHAPTER THREE STATEMENT OF THE puzzle ?To know the application of supply chain management in LG Electronics ?To find out the purchasing execution of LG electronics ?To find out the inventory turnover ratio ?To find out the channels of distribution or the complexity involved in the supply chain management ?To know the present trend of randomness technology in the supply chain management.CHAPTER FOUR HYPOTHESIS A hypothesis may be type delimitd as a proposition or a stickoff propositions set forth as an explanation for the occurrence of slightly specified stratumify of phenomena either asserted merely as a provisional conjecture to guide some investigation or accepted as highly likely in the light of established facts. Quite often a research hypothesis is a prophetic statement, capable of being tested by scientific methods, that relates an independent variable to some dependent variable. A hypothesis is a statement capable of being objectively verified and tested with the help of statistical tools.The hypothesis which I have set is To study the trend of summate Chain Management in the light of Information Technology of LG Electronics. Further this not the end of the study and as such some more hypothesis provide be developed during the research work. CHAPTER FIVE LIMITATION OF THE STUDY A study is usually done with the intenti on to explore something impertinent or to summate a few impertinently things to the already exiting study or research. As such when the study is done various difficulties atomic number 18 to be faced in collecting selective reading and other things which ultimately leads to its own advantages and drawbacks.My research work was a great exposure to me because I have to undergo stress and at the same prison term experience the actual hardship that it needs to collect reading. Some of the hardship which I faced is as follows ?Owing to the limitation of time factor research was not been done extensively as compulsory ?Respondents at times were hesitant in giving information as they feel it is leakage of companies information ?The sample sizing was acceden small, because of time and cost factor involved in it ?Most of the information collected is from the plump forary data ?The primary data is collected solitary(prenominal) through the middle management without the contribut ion of the lower management payable to their hectic schedule. ?The respondents may be biased on influenced by some other factors. ?Time and money were the greatest limitation in carrying out the survey. Study Of label INTRODUCTION 1. Established in 1997, LG Electronics India Pvt. Ltd. (LGEIL), is a wholly owned hyponym of LG Electronics, South Korea. It is South Koreas second largest electronics shambler and the worlds third largest appliance maker.With head lodges in the LG Twin Towers on Yeouido, Seoul, LG Electronics is the flagship high society of LG host, one of the largest chaebols. The telephoner has 75 subsidiaries worldwide that design and fable televisions, shell appliances, and telecommunications devices. LG Electronics owns Zenith Electronics and controls LG Displays, a union venture with Philips Electronics. In India for a decade now, LG is the market leader in consumer consumer durables and recognised as a leading technology innovator in the information tech nology and mobile communications business . LG is the acknowledged trendsetter for he consumer durable industry in India with the fastest ever crossways the nation r for each one, latest spherical technology and product innovation. LG Electronics was originally established in 1958 as GoldStar, producing radios, TVs, refrigerators,washing machines, and air conditioners. The LG Group was a optical fusion of two Korean companies, happy and GoldStar, from which the abbreviation of LG was derived. The current Lifes in force(p) slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, charm electronic products were sold under the brand name of GoldStar.The GoldStar brand is still perceive as a discount brand. One of the most formidable brands, LGEIL has an impressive portfolio of Consumer Electronics, Home Appliances, GSM mobile phones and IT products. LG Electronics India Pvt. Ltd. , a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 after clearance from the Foreign enthronisation Promotion identity card (FIPB). The trend of beating industry norms started with the fastest ever-nationwide propel by LG in a period of 4 and 1/2 months with the commencement of operations in May 1997.LG set up a state-of-the art manufacturing ease at Greater Noida, near Delhi, in 1998, with an investment of Rs 500 Crores. This facility manufactured discolor Televisions, Washing Machines, Air-Conditioners and Microwave Ovens. In the yr 2000, LG Information & Communications merged the worlds first Internet-enabled refrigerator resulting in Global gross sales of refrigerators reaching the number one position. During the category 2001, LG also commenced the home production for its eco-friendly Refrigerators and established its assembly line for its PC supervises at its Greater Noida manufacturing unit.The commencement exercise of 2003 saw the float out of the first loca lly manufactured Direct Cool Refrigerator from the deeds at Greater Noida. In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra that commences operations in October 2004. Covering over 50 acres, the facility manufactures liquid crystal display TV, GSM Phones, Color Televisions, Air Conditioners, Refrigerators, Microwave Ovens Color Monitors. Information Enabled Supply Chain Management in LG Electronics INFORMATION ENABLED SUPPLY chain of mountains MANAGEMENT IN LG ELECTRONICS 2. INTRODUCTION The focus of management has changed over the time. The business thinking of 70s and 80s related to strategic planning and portfolio approach has dramatically changed. Flexibility and responsiveness has become key business drivers for the 21st century, forcing business to point themselves along process instead of functions. Managing complex situation effectively on a real time radical for business information has become critical. Information technology has helpe d in devising the supply chain faster, flexible and responsive.As such LG needs to invest in information technology to make its supply chain more result oriented and challenging. Various flows in supply chain such as material, information and money preserve be effectively managed through information technology. It is this aspect of management that the use of information technology has assumed greater signifi grassce. Further in LG supply chain management enabled by advance technology shoots at developing a technical infrastructure, linking technology and people in an effort to align advantageous information technology with the capability of organizing and facilitating client satisfaction.LG also aim at supplement information tool to address the business concern relating to flexibility, quality, responsiveness and edging towards agility. Typical model of supply chain management 2. 2 ELECTRONIC COMMERCE (E COMMERCE) The internet era has revolutionized commerce, making e- commerc e a reality. The factors that have contributed to the success of e commerce, are lower purchasing cost, reduction of inventories, effective guest swear out, merchandise and sales etc. know time has come for the paper based business to give outside(a) to electronic business when supplier and guest will transact electronically.This would help in reducing cost, price, and extend savings. LG has well-tried to make an effective use of e commerce. With the help of it, it is able to display variety of its product invoked on the internet for the convience of the customer. This would be advantageous in two ways ?Firstly the customer would be able to know about the product ? Secondly it mickle transact purchase without very expiry to the market place for its purchasing As such LG has tried to use collar in-chief(postnominal) proportionality of e commerce in his day to day activities. These are as follows ? Reach is about vex and connection.It simply means as to how many c ustomer a business can access or how many products it can offer 2. 3 Application of E Commerce in supply chain management in LG Electronics Marketing and Sales Procurement/Logistics On line product information Electronic bidding Electronic interchange Low cost transportation Product offerings/e-supermarkets Point to point selling Point to point warehousing Customer service Inventory ManagementRepair/return/ surrogate High visibility On site fixing Removal of obsolete items Technical support Online place information on inventory 2. 4 ELECTRONIC DATA INTERCHANGE (EDI) EDI is interring schemeal exchange of business documentation in a structured machine process able form. It consists of standardized electronic gist formats for parking lot business documents such as request for quotation, purchase orders etc.These electronic transactions set the computer in one order /organization to communicate with the computer in the other organization without actually producing paper document s. Use of EDI in LG Electronics helps in providing various functions. The basic function is to provide compatibility among different systems that is easy and direct exchange of information. The second function is of store and forward. This means that orders will be sent but it will be stock by the supplier as per the agreement which can be weekly or monthly.The third and the final function performed by EDI in LG id that of Application support As such we can say if LG Electronics implement EDI properly and utilized it cost-expeditiously it can add speed and efficiency to business process enabling the organization to maximize resources and minimize neutralise and development customer satisfaction. 2. 5 Benefits of various Information Technology Elements IT ElementOperationsResults in EDI (Exchange Data Interchange)Inter organizational exchange of business documentation Reduced transaction cost and time Optimized Inventory Improved decision making Increased accuracy Improved custom er service IntranetDistribution of information within an organization car park process for ninefold functions Two way communication between different parts of the plant ExtranetInformation transaction among the clients, partners and customerEliminate user interface proliferation Enhance overall performance Real time feedback E CommerceCreate tonic revenue streams and grow Trim both transactional and overhead be Improve customer service 2. 6 INTRANET/EXTRANET Competitive pressures are ever increasing in world(a) manufacturing milieu.Intranet is a means of distributing information. It throw in the towels real time feedback to flow from the manufacturing area to design and engineering sorts. An intranet allows internal users to access data from external sources, while restricting access to it from those outside. The benefits that intranet provide to LG Electronics are as follows ?It facilitates two way communication between the manufacturing floor and the areas of the plant ? It allows distribution of many categories of information. These can be presented with a common look and feel , eliminating user friendly proliferation ?It construes a common process for multiple function and prove overall performance. 2. 7 outcome Information technology has played an crucial case in making the supply chain faster, reliable and responsive. At the same time it is also important to make effective investment in the field of information technology, otherwise it may not bear fruitful results. because on the whole it can be said that ?Strategic decision on the supply chain design can increase customer satisfaction and save money through information technology ?By sharing information, supply chain partners are able to respond more rapidly to know demands at a lower cost ? Information technology helps in reducing the operating cost by proper coordination of planning of various stages of supply chain ? Rapid introduction of a new or modified product is possible through i nformation technology ? Effective inventory management, product customization, is possible through information technology ? Detailed analysis of performance level, reporting and handling can facilitate with the help of information technology. Supply Chain Management in LG ElectronicsSUPPLY CHAIN MANAGEMENT IN LG ELECTRONICS 3. 1 OVERVIEW OF LG ELECTRONICS The Foundation of LG LG was established in 1947 as Koreas first chemical company, and also seemly the nations first electronics company with its expansion into home appliances in 1958. The new Corporate identity was launched including the change of the group name from Lucky-Gold star to LG in 1995. Business Fields The wide arrays of activities that LG conducts are coordinated within three highly pore business sectors Chemicals & Energy, Electronics and Telecommunications & Services.Each sector has undergone systematic changes, with rectifyd monetary compositions, restructured business portfolios and realigned equity investment structures. 3. 2 LG AN INTRODUCTION HISTORY OF LG ELECTRONICS The internationally famed company LG started off as Lucky Goldstar, a small company manufacturing cosmetics. In 1947 businessman Ku-in Hwe in Pusan in South Korea launched the company. LG entered in to the electronic business under the Gold star brand name in 1958. In the same year LG manufactured Koreas first telephone, refrigerator and black & white television.In the succeeding old age it change into oil refining, construction, semiconductor and finance. LG adopted the new name and corporate identity in 1995 from the companys two foremost brands Lucky and Gold star. Various Stages in LGs Growth Path LG THE fellowship LG Electronics India Ltd. is a subsidiary of LG Group, which is a 53-year-old business group of South Korea. LG is a US $80 one million million business group with 1, 30,000 employees. It is the third largest Korean Company and it started its operation in India just six years back.LG has established i ts corporate office at Noida along with the production facilities there. It has a intercommunicate of 17 branches in major cities spread all over India. LG is a company where they believe that people are the most important resource. It was rated as the 6th best employer to work for in India by Business Today in a survey conducted across a range of corporate all over India. At LG we invariably put people first. this is the slogan with which the company is running its HR policy. LG believes itself to be global company with carriage over 175 countries across the globe with a champion spirit.LG LAYOUT LG Electronics, Greater Noida is located on the outskirts of the metropolis having very little habitation. It has two main buildings- Building A and B. Building A has the corporate office, R&D Center, Washing Machine, A/C Assembly line, ELT room, Ware house, Stores etc. Building B has the CTV, Monitor line, PCB Line. On the first floor, an office with Production, Production Engineering , Materials, Quality Assurance and E-Source Department is situated. LG PHILOSOPHY The management philosophy is To create value for customers through management based on esteem of human dignity .LGs vision is to bring a smiling face to every home across the globe. The logo of LG is in harmony with their vision. The smiling face logo symbolizes five key concepts World, Future, Youth, and Human and Technology. LG believes that an effective combination of these elements would make better approaching a reality for the organization. LG has been exploring ways to develop, combine and apply technologies that would customize products and services to meet customer needs and exceed their expectations. LG aims at creating a healthy and better life for every family. LG yield IDENTITYPI (Product Identity) means to embody and to sustain the brand image through product design. CIPD is the process to make products identity & uniqueness gradually for customers recognition of brand and its value. LG CORPORATE IMAGE AND PI As an essential factor in connection between customers and company, product conveys the image of company to its customers. CIPD, Corporate Identity through Product Design, aims at propagation of sustaining LGs identity as well as its establishment through consistent design activities, which will help us to view the trust from customers.LG THE STRATEGY AND POLICY LG group has laid its foundation on three core values, which are central to the company in each and every respect of its business and workings. The three core values are Innovation, Openness and Partnership. Innovation Creating new and unique values. Openness Responding to changing environment with an open mind and flexible behavior. Partnership Establishing cooperative births to ensure the best performance as we enter fully. LG believes its core competencies to be Design, Technology, Marketing and Networking.Marketing The ability to understandably understand and analyze customer needs and the n link them to business, continuously controlling the brand image Technology The ability to develop unique product concepts with new proprietary technology ahead of others and then commercialize them. Design The ability to plan projects and business effectively to maximize results. Networking The ability to create win-win relationship opportunities based on ones strengths in specific sectors and make them into assets. It is the integration of its value with its competencies that LG has been able to achieve the success at such a fast rate.The company claims itself to be the most e-mail friendly company and service with a smile is the motto of the company. 3. 3 VISION OF LG ELECTRONICS 3. 4 STRATEGIC SUPPLY CHAIN MANAGEMENT IN LG ELECTRONICS The term scheme has been derived from the word strategos which means generalship. In olden days it was more employ in wars but with passage of time it know been implement in all spheres whether it is management, planning etc. Without a well th ought strategy an organization can not think of making big because of the outgrowth competition and improved and better ways of production.As such the strategy used by LG is Shorter product life cycle, improved quality, faster delivery lower price, which have de amercement its success. It is based on the formula Competitiveness = competitive assets x competitive process Beside this some of the important imperatives for the supply chain strategy are as follows ? Emergence of global sourcing as a practicable strategy ?Global network of manufacturing and marketing ?Global business process revolution and global process transfer ? Shifting patterns of competitive advantage ?Emergence of integrated enterprise of management system architecture ? General trend towards integrated solutions. . 5 MAJOR TRENDS IN SUPPLY CHAIN MANAGEMENT CO- MAKERSHIP It is specify as the development of a long term relationship with limited number of suppliers on the basis of mutual confidence. The main bene fits of co makership is shorter delivery lead times, reliable delivery promises, faster implementation of condescend changes etc. The basic philosophy underline co makership is that the suppliers are treated as an extension of the customers factory with emphasis on continuity and end to end pipeline. USE OF THIRD troupe LOGISTICS A decision to use third party logistic should be based on the organization needs, service provider capabilities etc.Outsourcing operations like remembering, transportation, improve service levels, enhance flexibility and reduce cost. It also helps in reducing investment in assets and enables organization to access to newer technology. PRINCIPLE OF PROCUREMENT Activities that are done up to the last moment like packaging, labeling, etc is known as principle of procurement. The main aim of this principle is to minimize the risk of carrying finished product inventory at various points in the supply chain by delaying product differentiations to the latest pos sible moment before customer purchase.However it should be noted that postponement should not lead to compromise on the desired service level. 3. 6 practical application IN LG ELECTRONICS Supply chain management has in recent years has played an important aim in all the industries concerned. It has not completely paved way for the induction of information technology but has also helped the manufactures in easy procurement of material and transferring the same to the ultimate consumer. Without going further in detail we try to see the application of supply chain in the following areas RETAILERSRetailers are the second last chain in the distribution of the product to the ultimate consumer. Since they are at constant trace with the customer they are in a better position to understand their needs and wants. As such they send request to the distributors and to the manufactures for goods which are in demand. The manufactures through a well defined supply chain are able to send goods t o the sellers. In the absence of this chain the manufactures can lose the customer. Thus supply chain at as an important tool in maintaining customer satisfaction and loyalty. SUPPLIERSIn todays scenario companies are not required to stock commodities in bulk owing to fluctuation in the market related to product preference. As such manufactures do not store raw material but place orders as and when the need arise. Here the role of supply chain comes into picture as it helps the supplier in providing material to the manufacture at an appropriate time. MARKET SEGMENTATION Supply chain helps in the part of customers based on the service needs of distinct groups and adaptation to serve these constituents profitability. This pleasing of part can result in better prediction of the demand from the individual customers.Further segmentation also leads to know the demand of the products among the customer and also to know the future customer preference. 3. 7 CONCLUSION It has been seen f rom the past that when ever something innovative is been introduced in the business arena it has created a platform for something to happen. The introduction of supply chain has immensely benefited the manufactures as know they have a well defined line of procurement of material and transferring the finished product to the ultimate customer. Further it creates an essence which focuses on the creation of value.It is a network of business process used to deliver products and service. Supply chain also sees the organizational relationship in order to get the information necessary to run the business and to generate profits. This concept not only includes relationship with the internal business function but also those with all trading partners outside the firm. Brand image Brand value Brand equity 4. 1 Brand image The importance of brand differentiation based on quality, design and technological innovation was a key topic at the sixth LG Electronics PR Forum held in Beirut.Titled Shapin g the Future of Excellence, the two-day meet discussed strategy and best practice and explored the importance of PR to brand building. More than 45 delegates from LGs regional headquarters, Seoul head office, and set easternmost and Africa PR agencies attended the forum. Markets represented included the UAE, Saudi Arabia, Egypt, Jordan, Lebanon, Morocco, Tunisia, Algeria, Turkey, Kenya, Nigeria, South Africa, Iran and Pakistan. LGs new global management strategy, robust Ocean, aims to establish LG as a top-three consumer electronics company by 2010, doubling sales volumes, profits and administerholder benefits.Flagship or Blue Ocean products that demonstrate market leadership, high sales and profit performance will urge brand growth, and LG hopes that 30 per cent of sales and 50 per cent of profits will come from Blue Ocean products by 2010. Well planned communication and PR campaigns play a critical role in achieving ambitious business goals and establishing LG as a insuranc e premium brand, said K. W Kim, President, LG Electronics Middle East and Africa. As we move away from conventional business practices, Blue Ocean demands that we deliver a material point of difference for LG products.PR will bring the new strategy to life in multiple cultures and markets. The sixth LG PR Forum in the Middle East and Africa has helped strengthen systems and share valuable new thinking. The forum received presentations on word of mouth marketing, e-PR, and photography. LG also invited representatives of leading print and TV media to share important industry perspectives. An issues and crisis management workshop was held on the last day of the forum. 4. 2 Brand value LG Electronics India Pvt. Ltd has 0 positive reviews and 0 negative reviews.Established in 1997, LG Electronics India Pvt. Ltd. (LGEIL), is a wholly owned subsidiary of LG Electronics, South Korea. It is South Koreas second largest electronics maker and the worlds third largest appliance maker. With he adquarters in the LG Twin Towers on Yeouido, Seoul, LG Electronics is the flagship company of LG Group, one of the largest chaebols. The company has 75 subsidiaries worldwide that design and manufacture televisions, home appliances, and telecommunications devices. LG Electronics owns Zenith Electronics and controls LG Displays, a joint venture with Philips Electronics.In India for a decade now, LG is the market leader in consumer durables and recognised as a leading technology innovator in the information technology and mobile communications business . LG is the acknowledged trendsetter for the consumer durable industry in India with the fastest ever nationwide reach, latest global technology and product innovation. LG Electronics was originally established in 1958 as GoldStar, producing radios, TVs, refrigerators,washing machines, and air conditioners. The LG Group was a merger of two Korean companies, Lucky and GoldStar, from which the abbreviation of LG was derived.The current Li fes Good slogan is a backronym. Before the corporate name change to LG, household products were sold under the brand name of Lucky, while electronic products were sold under the brand name of GoldStar. The GoldStar brand is still perceived as a discount brand. One of the most formidable brands, LGEIL has an impressive portfolio of Consumer Electronics, Home Appliances, GSM mobile phones and IT products. LG Electronics India Pvt. Ltd. , a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 after clearance from the Foreign Investment Promotion Board (FIPB).The trend of beating industry norms started with the fastest ever-nationwide launch by LG in a period of 4 and 1/2 months with the commencement of operations in May 1997. LG set up a state-of-the art manufacturing facility at Greater Noida, near Delhi, in 1998, with an investment of Rs 500 Crores. This facility manufactured Colour Televisions, Washing Machines, Air-Conditioners and Microwave Ovens . In the year 2000, LG Information & Communications merged the worlds first Internet-enabled refrigerator resulting in Global sales of refrigerators reaching the number one position.During the year 2001, LG also commenced the home production for its eco-friendly Refrigerators and established its assembly line for its PC Monitors at its Greater Noida manufacturing unit. The beginning of 2003 saw the roll out of the first locally manufactured Direct Cool Refrigerator from the plant at Greater Noida. In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra that commences operations in October 2004. Covering over 50 acres, the facility manufactures LCD TV, GSM Phones, Color Televisions, Air Conditioners, Refrigerators, Microwave Ovens Color Monitors. some(prenominal) the Indian manufacturing units has been intentional with the latest technologies at par with international standards at South Korea and are one of the most Eco-friendly units amongst all LG manu facturing plants in the world. LG has been able to craft out in ten years, a premium brand positioning in the Indian market and is today the most preferred brand in the segment. Business Domains of LGEIL Mobile Communications LG is a global leader in mobile communications, specializing in UMTS, CDMA, and GSM handsets. give thanks to its wide range of wired and wireless options, the company is becoming a force to be reckoned with on the international market. In India LG is targeting GSM handset business in premium trend setter segment, Camera & practice of medicine segment & color screen segment. Digital Appliances LG changing homes in many ways, offering customers exceptional value and convenience. Innovative digital appliances range from 100% washer dryer with direct drive technology, built-in LCD TV refrigerator, Lightwave cooking oven (solardom) to artcool split air conditioner. Digital DisplayLG offers a wide range of digital display products, equipped with customer-oriented de signs and technologies. With its LCD TVs, Full HD Plasma TVs, Ultra-slim Color TVs, LCD monitors LG is pulling out all the stops to remain the front-runner in todays digital display industry. Digital Media LG has a great interest in digital media and is continually developing and producing digital convergence products that promise to meliorate the lives of its customers. The company produces Laptops, Personal Computers, LCD monitors, CRT monitors & Optical Storage Devices. 4. 3 Brand equityLG Electronics India Ltd (LGEIL), consumer durables leader with 27% market share, is planning a brand new image. To curl aspirational and young consumers across India, company will roll out a new marketing strategy. The exercise will cost the company Rs 360 crore. V Ramchandran, Director Sales and marketing, LGEIL says, In the last ten years since the parent company launched India operation under LG Electronics India, we assumed leadership position in home appliances and consumer durable items. Company was focused on the segment as per consumer demand. However, the scenario is different now. Besides reliability and affordability, theres an aspirational value attached to electronic appliances, a sea change from the past. And hence the image makeover. The first step, to communicate LGs quality and brand equity, has been the launch of Brand Shoppes, dedicated outlets of LG products in metros. Ramchandran says. He explained, Young consumer is aware about new designs and advanced technology. Top class consumers spend more and dont mind spending more to fulfill their aspiration. In India 50-60 % consumer are young and unforced to purchase new, different, attractive and exciting items. In a bid to meet the challenges of an increasingly mature retail environment in the country and redefining the standards for digital lifestyle retailing, it is necessary to focus on brand image. LG Brand Shoppe goes beyond the concept of a normal exclusive store by having a more synergetic env ironment and additional lifestyle orientation on display so that the customer can actually experience the LG products in his or her own home settings. Company is setting up a chain of exclusive premium showrooms. LG plans to launch 60 premium Brand Shoppes by the end of the first quarter of this year, he said.At present, LG has a total of 83 LG stores across the country, of which 45 are shoppes and 38 are exclusive stores. Brand shoppes will be placed in the premium segment and the target consultation will comprise buyers interested in premium and high end products. Online Brand Audit 5. 1 Online Brand Audit Every day at Friends of the Earth Scotland we receive calls asking us about environmentally friendly products whether it is really worth recycling and how to go about greening the office. Our Online Audit is designed to answer these questions.It is aimed at those putting green office policy into practice and those who want to protect the environment but may not have the time or the money to immediately overhaul the workplace. To work towards a greener office environment we all have to look at the resources we use and reduce the waste and pollution that is created each working day. We hope that this audit will provide solutions and guidance in creating that greener office. color the Office Online Audit The audit includes basic information on identifying environmental impacts and finding solutions.The majority of the questions will apply to all offices. Supporting Information The fact sheets provide practical information on the main topics. There are also directories of web based links to sources of further information, green office suppliers, environmental calculators. Green Office Action Plan For even more information on Greening the Office, we have produced a comprehensive easy-to-use guide, the Green Office Action Plan (GOAP). It has additional background information on all the topics (and more) included in our Online Audit.The GOAP includes practical blow-up pages, audit templates, facts and figures, green suppliers and additional sources of information. every last(predicate) information contained in the Green Office Online Audit, including details of companies, organisations, their products and services is believed to be correct at the time of initial launch in June 2003. Friends of the Earth Scotland cannot be held responsible for any services or goods offered by the companies contained in the Directory, nor do we endorse any environmental claims made by the said companies.Supply Chain Management with other Departments SUPPLY CHAIN MANAGEMENT WITH OTHER DEPARTMENTS 7. 1 INTRODUCTION A supply chain management is the hub of a large part of a companys business activity. By its very nature, it has tried to maintain neighborly relationship with all other departments in the firm, as well with the suppliers. The fountain been as it has to operate in accordance and in line with all other departments. I have tried to learn the role of supply chain with some of the departments in LG Electronics, to which a brief description I am giving below . 2 SUPPLY CHAIN AND MANUFACTURING Supply chain plays an important role in the manufacturing, because it aims at procurement of material at the decent time and through the undecomposed channels. Maintaining coordination between the two lucres off in many ways. It assists in the efforts by obtaining faster responses from the supplier, working with suppliers to improve their capabilities etc, which is generally not seen in the common scenario. Other important issue noticed is that of the information technology which have greatly simplified the relationship between the two.Use of computers and other sophisticated package product allow the firm material resources planning system to communicate seamlessly with the counterpart system at the firm suppliers. All these factors contribute a lot in reducing the direct cost and offsetting the increase in the material coast, beside s adding added benefits like of skilled machinists and expensive machine tools and other high priority work. 7. 3 SUPPLY CHAIN AND MARKETING Supply chain should be marketing best friend as it directly or indirectly affects the sales process of LG Electronics.Further in case the product is not demanded or the sale is less than in that case the supply management department can be intimated and they can further reduce the procurement of the material from the supplier. Beside this supply chain also provides immediate information regarding increase in the material price. This helps the marketing department to evaluate the effects of rises in price estimates given for the future sales quotations, on current selling price and on plans for the future product lines.As such LG Electronics emphasis that the supply chain and marketing department must wisely blend their interest in the area of customer. There should be a correlation between the two so that what ever has been advertise by the mar keting department is been produced and delivered to the customer. This is only possible when the supply chain of the organization is efficient and effective in the procurement and maintaining a regular flow of material in the organization. 7. 4 SUPPLY CHAIN MANAGEMENT AND FINANCEThe finance department of LG Electronics is charged with two principle responsibility obtaining funds and overseeing their use. Supply chain of LG is responsible for as much as 80 percentage of firms financial resources. As such the chief financial officer has a vested interest in cost efficient supply chain management. This department has some very important role to play in supply chain as it determines the amount of resources that the firm needs to procure, when to procure, what to procure etc.If this department of LG is not efficient it will not be able to make an impact on the supply chain as everything is depended upon the financial resources. Further it helps in effective investment so that the compan y does not have to pay higher price for the same material at the later stages. Further it make prompt reimbursement to supplier which ultimately helps in maintaining goodwill in the minds of the supplier and also obtaining good quality of material at lower cost. As such supply chain and the finance department should coordinate on use of goods and services that has significant impact on the firms cash position. . 5 SUPPLY CHAIN MANAGEMENT AND QUALITY In LG Electronics major emphasis is been given to quality both in terms of raw material procurement and finished goods. As such quality professionals are involved not only in maintaining quality but also undertaking the development of new products, sourcing and minimizing quality problem throughout the supply chain. 7. 6 FOUR PHASES OF SUPPLY CHAIN MANAGEMENT IN LG ELECTRONICS The four phases of supply management require many perspective and inputs best obtained through a cross functional approach.The four phases of supply management are as follows 1. GENERATION OF REQUIREMENT the generation of requirement is a critical activity that results in the identification of material to be purchased, along with the development of specification and statement of work describing the requirements. This is an important phase since most of the designing is done relating to purchasing material, service and equipment. It also takes into account the commercial issues like cost, availability, substitute and alike. 2.SOURCING- the main aim is relating to the identification and selection of the supplier whose cost, quality, technology, dependability and service best suits the needs of the firm. Thus it not only aims at identification but also in maintaining cordial relationship with them. 3. POST- AWARD ACTIVITIES- this activity ensures that the firm receives what was ordered on time and at the price and quality specified. The activities that are been included are supplier development, technical assistance, troubleshooting, and the management of contract and the resultant relationship. 4.SUPPLY MANAGEMENT SYSTEMS- it is very important for a firm to have a management system. A cross functional approach to supply management allows each functional area affected by the procurement of material, equipment, and service to be involved at a point where it may contribute to the lowest total cost. For cause we take the case of operation has it in the productivity implication of different material. Although such activities do not participate early enough to voice their concern and needs. Customer Focus in Supply Chain Management CUSTOMER FOCUS IN SUPPLY CHAIN MANAGEMENT . 1 INRODUCTION Supply chain management has in recent years has acquired immense attention in the industry circle. The growing interest can be attributed to he rapid changes in the global business scenario. It has know been looked upon as an expanded responsibility to attain value optimization, and to compete on a variety of dimension such as cost, quali ty, and flexibility. As such when we focus our study towards customer we basically try to identify ? The meaning of customer in the supply chain ?The importance of customer-driven strategies The various strategies of customer satisfaction ?The imperatives for supply chain management ?The rationale of supply chain management towards customer. 8. 2 FOCUS ON CUSTOMER return Effective customer service has become a competitive requirement and a way to attract and retain customer. A focus logistics and customer service strategy is still a dream of various companies, to which LG is responding positively. The reason been the company articulated and consistent customer service goals and the logistic function within the supply chain management has dominantly remained focused.Despite all these efforts it is still trying to accomplish a complete customer service by taking into account the following ? To provide a decimal apprehensiveness of the customer requirement for each element of custom er service, like delivery, reliability, availability etc ? To measure the relative importance of each element of customer service ? To asses the performance of the company and of its major competitors for each element of customer service ? To provide an understanding of the relative significance of customer service issues related like price, product and quality.These to a higher place mentioned service can be of great benefit if properly conceived and implemented. Beside this, survey can provide a clear direction to the logistic function allowing it to focus energies on creating and managing a system that most efficiently achieve the consensus. 8. 3 CUSTOMER SEGMENTATION A helpful and very powerful tool for understanding the customer requirement is to segment them on the basis of some common characteristics. This helps the company to have a birds view about its customer. Especially in case of onsumer durable industry like LG Electronics whose focus is on understanding customer req uirement and organizing activities to serve the customer. But in the era of cut throat competition LG is trying to device new ways of grouping customer. One of these approaches is account segmentation which organizes customer into common groups based upon their common attributes. Through this approach LG is trying to identify market segment that is well positioned to serve and than organize its product and service offering to serve them in a distinctively superior way.Another way is the creative account segment which allows them to think new ways about the customer requirements. 8. 4 CUSTOMER CENTRIC SUPPLY CHAIN In the context of present scenario customer satisfaction is something that keeps on revolving in the minds of the competitors with reference to as how they could capture the market and have their dominance in terms of their product in the market. As such the focus has know shifted from product centered to customer centered because customer is considered as the king and unl ess they do not consume the products the company cannot be successfulAt times we do hear that companies are not able to mark their presence in the market in terms of their product, and if we go for the reasoning we find that there are two attributes or reasons-not keeping in mind customer requirement, and because of not having a clear statement of vision and mission. When we talk in terms of LG Electronics we find that LG because of its sound policy and practical approach is able to provide the best service in the industry besides keeping lower cost than that of its competitors.This has being possible because it has prompt a clear written statement of his mission of the supply chain which is in consistent with key corporate strategic thrust. This helps LG in attaining its target and remaining its loyalty towards its customer. These targets further acts as guidelines for designing and fine tuning the supply chain system and to track actual performance against the target that has bee n set. Know we take into consideration the various important aspects of customer service on which LG Electronics has empha surfaced and because of which it has mastered its success at the global level.These important aspects are ? Ability to fill the complete order ?Accurate documentation ?After- sales service ?Assistance with design changes ?Availability of spare parts ?Competence and availability of technical representatives 8. 5 ENVIRONMENTAL FACTORS Environmental factors also do have a strong bearing on the manufactures to produce goods which are acceptable to the society and are appreciated. If the factors are not taken into consideration then it would be very difficult for the company to sell its products in the market. Based upon these LG Electronics always take into consideration these factors.As such I have tried to identify these factors, which are been divided into two parts 1). extraneous Economy 2). Internal Management External Economy ?Recessionary economy ?Rising/fall ing point interest rate and condition of equity markets ? Increasing international regulations involving 1) Product Related 2) Environmental (ISO 14000/Euro II) 3) safety device ?Increasing transportation cost Internal management ?Repositioning supply chain management ? desegregation and upgrading of customer order bear on function using IT ? Computer modeling of large scale distribution system ?Pressure on inventory reductions from top management Better use of data processing capability using IT ?Experience gained from period of product shortage with lower customer shortage service levels specially in developing economies As such LG Electronics focus its attention on serving their customer the way their customer wants to be served for that it must address five important areas ? Understanding customer service needs ?Value added capabilities ?Redesign the logistic network structure and operating policies ? Identifying the performance level or the level of sufferance along with a comparison with key competitors CHAPTER SEVENRESEARCH METHODOLOGY It is a conclusive research which is based on operational procedure of LG Electronics. The finding of this project is based on qualitative data rather than quantitative data. Therefore the major finding would be dynamic in nature. The analysis of this project is presented through graphical presentation based on data collected. Some of the quantitative and qualitative method will be used as per requirement of the research work. SOURCES OF DATA collection In this study of mine I would be collecting the data through two sources, which has been as follows Primary Data . Personal interview 2. Questionnaire Secondary Data 1. Journals 2. Magazine 3. Company Bulletin 4. appear Engine Google CHAPTER EIGHT DATA ANALYSIS AND DICUSSION An Overview This chapter focus its attention on the data analysis of the responses received as a part of the questionnaire that was been filled by them. The graphical representation would also help me in proving my hypothesis which I have set in my study. Along with that I would be focusing my attention on some others aspect but they will be correlated to supply chain in some form or the other.The graphical representation would be self explanatory beside this some data in form of theory would also be written to help the reader or the jurist to understand it completely. 8. 1 Use of information technology while implementing supply chain management Information technology has always played an important role in the diversified field. When we specifically talk in terms of supply chain of LG we found that employees are willing to accept it, as responded by them in the questionnaire since it indirectly benefit them. The following diagram 1 represents the same Note N represents sample size . 2 Results delivered by supply chain This diagram 2 includes the response of basically of the middle management who are in a better position to say about the whether supply chain has delivered results to LG Electronics or not. Note N= Sample size 8. 3 Purchasing of additional software for supply chain Note N = sample size 8. 4 Application of Information Technology in supply chain Here the main reason for asking such a question is to know the application of IT with special reference to satisfaction level. Note N = sample size 8. 5 Reason for implementing supply chainWhen organizations introduce something new there is some purpose or logic behind it. In case of supply chain we have tried to figure out the context in which the concepts is implemented and the area of its greats impact. The diagram 5 represents the logic or purpose Note N= sample size 8. 6 Training to employees about supply chain In this diagram 6 we our trying to figure out the complexity involved in supply chain training or that it a simple way process. In this question I got a mixed response from the employees, because a different kind-hearted of training was provided to different employees.As such a stand ard training is not given to all the employees. Note N = sample size 8. 7 Performance response of supply chain working Note N = sample size 8. 8 Preference for the procurement of material Supply chain of LG Electronics is depended on the procurement of material. Since the material is required on a continuous basis the management of the company needs to identify the preference sources from where to procure material. Diagram 8 represents the source from where the material is taken along with percentage quantity. Note N = sample size 8. Supply chain management effect on decision making LG Electronics as researched has tried to offset a negative impact of decision on the flow of supply chain. Due emphasis is paid to see that there is no delayed action that directly or indirectly affect the supply chain. Note N = sample size CHAPTER NINE GENERAL OBSERVATION FINDING OF THE STUDY ?Supply chain management is a relatively a new subject of study, therefore should be cautiously be used in orde r to be effective ? The primary data collected revealed that employees show enthusiasm towards the new concept introduced ?The research reveals that supply chain is most effective in the procurement and distribution of goods ? The future prospects of supply chain are challenging and competitive ? The research reveals that the objective of supply chain is to achieve operational excellence ? Supply chain facilitate executives in formulating a comprehensive strategy and control framework ? Supply chain is an effective tool for increasing profitability, market share, and responsiveness SWOT Analysis of LG Electronics Strengths ?Young and Dynamic management Strong desire among the employees to improve the existing system and procedure ? Broader frame of mind of employees reflected by their acceptance of changes in their working patterns ? Companys name and its goodwill in the market. Weakness ?To much paper work is involved in the procurement of material ? Not a healthy information stora ge leading to delays in passing orders ? Too many vendors ?No specific standard for the procurement of material. Opportunities ? maturation market for consumer durables which makes an effective supply chain use ?Information technology can be effectively explored ?A field of study with lot of growth opportunities ?Increased market share delinquent to quick flow of finished products. Threats ?Not easy flow of material as desired due to increased competition ? Technological advancement is a major threat ?Numbers of competitors. CHAPTER TEN CONCLUSION Managing faster supply chain has become imperative to gain and sustain competitive advantage. The challenge of the innovational manufacturing company is to keep a holistic approach towards the management for remaining competitive on an international basis.The focus is on the increasing importance of the supply chain function to corporate competitiveness As such a study of 100 random samples of LG employees in supply department was condu cted in order to understand the effective use of supply chain management and its application in the light of information technology. Research was conducted accordingly and a favorable response was seen among the employees towards the adoption of supply chain management which can be seen from the graphical representation. The conclusion drawn is that most of the employees feel that use of information technology in supply chain would definitely going to enefit the organization in the long run. Thus the hypothesis set by me is accepted since LG do believe that information technology has important role to play in the supply chain management. Further they should form a strong customer and supplier database and underline some strategies in order to promote the supply chain and make employees aware about it. CHAPTER ELEVEN RECOMMENDATION FOR FURTHER STUDY Supply chain management is an integrated document useful for understanding the most essential business process of an enterprise and usef ul in confronting emerging challenges posed by the external environment.In my study of supply chain management in LG Electronics, I have tried to depict, supply chain in the light of information technology. That is how information technology can be a useful tool in the implementation and successful operating of supply chain. As such following are the recommendation for further study in relation to the points that needs to be focused ? To study the benefits of an integrated framework for a coordinated system working and its effective use relating to supply chain ? To study the recent developments in the field of Information Technology and its use in supply chain ?To understand the implication of various technologies on the supply chain ? To understand the significance of an environment friendly supply chain ? To understand the basic trade off involved in the selection of supply chain ? To study the benefits of being competitive through the elements of supply chain management strategy as used by. BIBLIOGRAPHY 1. Essential of supply chain management By Dr. R. P. Mohanty and Dr. S. G. Deshmukh 2. World class supply chain management By Burt. Dobler. Starling 3. Journal on Industrial technology 4. Journal on supply chain management 5. Company Bulletin, Magazine, newspaper 6. www. google. co. in . www. lg. com REVIEW OF LITERATURE The first view of purchasing was the material management concept. Undoubtedly this movement was accelerated by the Second World War the rapid growth of aerospace firm and the influence of military logistic. But by the end of mid 1950s, material management concept gain significance with the introduction of supply chain management. The manager of the organization felt that production control and in plant material movement was their function. As such material requirement planning was forced in the organization, to look at the entire flow of both incoming material and outgoing finished goods as a system.In between them the purchasing was caugh t with constant changing delivery dates, order and quantity etc. As such a book written by D. N. Burt represents a major bridge from material management to supply chain management. He develops cross functional team approach which is build on synergy advantage of material management but expanded it to include suppliers. Here the major possession is being on ownership cost. As such supply chain management is the upstream of the organization value chain and is responsible for ensuring that the right material service and echnology are purchased from the right source, at the right time and is directed towards the end or the ultimate user. Questionnaire 1. Which Supply Chain Management software/ regularity do you use? ?Please specify. .. .. . . 2. Did you make use of Information Technology when implementing your supply chain management software? ?Yes ?No 3. Did your supply chain software deliver the result expected or promised by the company? ?Yes ?No 4. Did your supply chain software req uire additional expenditure to customize the program to your company operation? ?Yes ?No 5.How often do you need to purchase upgrades for your supply chain software? ?Often ?Sometimes ?Rarely ?Do not purchase 6. Would you like to purchase additional software for the company? ?Yes ?No 7. How satisfied were you with the application of Information Technology in supply chain management? ?Satisfied ?Somewhat Satisfied ?Undecided ?Dissatisfied 8. What was the main reason you to implement the supply chain management? ?Planning ?Map out supply chain function ?Solve conflicting objective within supply chain