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roducers of quality reports for your business. Specific business. Any unknown problem that you may face in ation but you don't know about that. Our consultancy p your business it is guaranteed. Internship Report On

Gulberg Fashion

hip report is to be submitted for fulfillment of degree of

ster of Business and Information Technology By Khizar Arslan F05MD017 Presented to: Dr. Nayyar Raza Zaidi

stitute of Business and Information Technology University of the Punjab Dedicated to my Parents

eir knowledge, wisdom, guidance, and prayers, I would chieved the goals I have strived for and the best to reach my dreams.

Khizar Arslan F05MD017

Acknowledgement

mighty Allah who blessed me and made it possible for me te this internship report. I am also very grateful to may ho supported me during the hard times I faced. I wish to found gratitude to my teacher Sir Mansoor Mehmood for t guidance, keen interest and continuous encouragement.

thankful to all my teachers of IBIT who taught me and pply the bookish knowledge into practical life. I am also ankful to all my team of Gulberg Fashion who made this project possible for me. Executive Summary

many options in deciding where to do my internship. ncluded working in a Bank, working with Insurance working in Textile sector. I decided to work in a textile 68% of the Pakistans export is dependent on Textile. I e sector has bright future in coming years. Keeping this ecided to start my internship in Gulberg Fashion.

hion is engaged in processing raw fabric to finished d exports these products to different countries. Gulberg tuated in Sialkot and same location is for its head office. the head office and paid occasional visits to the factory isualize the production process. I worked with all the which are:

Accounts and Finance Department

Marketing Department

mport and Export Department

Purchase Department

h the Finance Department as it is related with my major. ship I learned how to manage accounts for all types for working. To do the internship was much more important se it was not only the degree requirement but also an to grab practical experience before starting my career by getting proper employment in the business. Introduction

hion was established in 2001 in Sialkot for meeting the ood quality fabrics worldwide. The unit started n 2001 and its production capacity fulfilled the of the management and proved as a successful venture.

ment and all the employees, by hard work and sincere eased the exports of the company so that it became the c exporter in Sialkot. Gulberg Fashion is exporting its several countries including UK and UAE.

grace of Allah (the Almighty) Gulberg Fashion is one of ul and leading exporters of fabric and garments.

Profile of the Industry

manufacturing sector includes companies engaged in le products such as yarn, thread, twine, and knit fabrics, , coating, and waterproofing. Finished textile products rel, leather, curtains and drapes, canvas sheeting, and items. Pakistan exports are high dependent on the textile kistan has become one of the leading cotton producing

ntration, structure

he fourth largest cotton producing country in the world. main share of textile products is more than 50% yarn only. tans textile industry is based on 60% on spinning sector, ving sector, and 18% on the finishing sector.

textile sector in Pakistans economy, along with its to exports, employment, foreign exchange earnings, nd value added in industry, makes it the single largest of the growth in the manufacturing sector. It has 46% rall manufacturing activity, 68% share in export earnings ue of $7 billion. The value addition in this sector 9% of GDP and its share in the overall employment is

stry is concentrating towards value added products which ments, finishing fabric, home textiles, towels, curtains, rting, and designer knitwear. The textile industry in the es increase of organizations producing value added meet growing international demands. History and Background

hion is one of the leading manufacturers and exporters nd garments in Pakistan. Gulberg Fashion is a irm came into existence in 2003. Gulberg Fashion is dyeing and printing on different kinds of fabric targeting rt markets but also keeping a small presence in the local

s balancing, modernization and replacement have been in the organization making it one of the leading its size. With the dynamic leadership of its CEO, Mr. and a dedicated team of professionals in the finance, nd technical departments, Gulberg Fashion has been able lity products and has increased its exports sales by an 0% in the last 3 years.

ssential and critical role in the private sector and exports try, Gulberg Fashion has increased its sales and total average of 15% and 10 % respectively in the last 3 years. Products and Services

hion core competence lies in providing quality controlled

efficient utilization of its available resources.

n business relationship on the basis of trust & Client satisfaction is our top priority. Our product line grey fabric to processed fabric. Processed range includes rinted & Dyed Fabric. All our fabric is made according ication of the countries to which these are exported to. ications include composition, construction and width.. ment to quality and timely delivery has made us proud to st of satisfied and loyal customers.

ation offers quality Grey Fabric in different constructions which includes Percales, Twills, Drills, Satins, Stripe 0% Cotton, Poly-Cotton & CVC Blend with Dobby with multi pick insertion facility. Gulberg Fashion also bric with having wide range in raw cotton like PIMA, nd Pak-cotton etc as preferred by the customers. regular items which we are supplying to UAE and 40/40 110x90 40/40 120x70 50/50 130x110 40/40 127x79

40/40 148x82 40/40 140x100 DPI 60/60 190x90 80/80 224x192

80

90

40/40 133x72

DPI 80/80 240x244 DPI

ge of our in-house weaving, we can supply quality efficient deliveries. This is one of the reasons why we st of satisfied and loyal customers.

abrics

ISO standard finishing arrangements to provide yed & Printed fabrics in narrow and wider widths the specification of customers.

ll kinds of fabrics in bulk quantity stock fresh fabric and %cotton and poly/cotton fabrics like gray, bleach, dyed

e in hospital, hotel and home bed sheets. towel, bath towel, hand towel in cotton Profile of the Company

hion is a partnership firm came into existence in 2001 in principal business of the organization is get raw fabrics ng those raw fabrics to finishing form after dying and exporting of these finished products to different he registered office and factory of the organization is HMED PURA, Sialkot.

nt

agement establishes the operating policies and reviews on the regular intervals to ensure that the performance any is in compliance with these policies.

ment team of the organization comprises of dynamic s qualified to meet the challenges of the market-place. ation follows an aggressive marketing strategy, which in a well-diversified client list and a geographically nue base.

h Irfan

eting: Mrs. Irfan

ontroller: Mr. Amir

Manager: Mr. Musawwar

r. Amir

Industry Business Process

uction comprises of cotton ginning, cotton yarn, cotton c processing (gray-dyed-printed), home textiles, towels, wear and readymade garments. These components are ced both in the large-scale organized sector as well as in cottage/small and medium units. The current status of s subsidiary textile industries is reviewed below:

sector is out-dated and needs modernization. There are g factories in Pakistan and their total capacity is ly 20 million bales per year while total production of n is 10million bales suggesting an excess capacity of he country.

pinning sector is comprised of 453 textile units (50 nd 403 spinning units) with 9.2 million spindles and 147 tors.

ctor is comprised of hosiery, garments, towels, canvas r. The weaving sector has different sub-sectors i.e. xtile units, independent weaving units, and power loom wer looms encompass poor technology, scarcity of and the lack of institution financing.

ion of cotton cloth in the mill sector has increased at a pace by 17% last year while the non-mill sector has modest growth of 6 in the same period.

cts in textile down stream industry are hosiery, towels,

bed-ear, tents, cotton bags, readymade garments and rels. Industries like knitwear industry, readymade d towel industry are included in downstream industry.

acing heavy competition from countries like China, Spain and Turkey who are doing their best to install new d units to stimulate their respective exports. In the s, China and Turkey will be the biggest competitors. vesting a lot in finishing of home textiles, garments, and stry. On the other hand, China is buying new as well as machines from all over the world to fulfill the future

ain

ng factory Textile mill Agent Buyer

ported from following countries: USA, Australia and

s imported from countries like: Japan, Italy, Germany, Company Business Process

Gulberg Fashion is presented with challenges as well as s for the company. For a textile manufacturing to compete in the international market, it needs to y improve their quality to meet tough international

d also increase productivity. Keeping this in mind, hion is exporting high quality fabrics, and dyeing and also added features, for which it is very important to buy ality fabrics; hence Gulberg Fashion purchases raw very selective manufacturers who provide them with brics. As a result, Gulberg Fashion is producing high hed products and competing the international markets K, UAE, etc. Gulberg Fashion presence in the market already gives them an edge over their as their brand is already established in the market. In his, Gulberg Fashion has gone into self-generation, ns to be the most expensive input after raw materials, icantly decreases its cost and puts it as an advantage in onal arena. Organizational Structure CEO Financial Controller Manager production G.M Marketing Finance Manager Accounts Officer A.M. Finance

Import Officer Store Accountant Sales and Marketing Manager Exports Manager Purchase Manager Cashier Production Supervisor Description of various Departments

berg Fashion on 7th April, 2008 as part of my internship. I worked with all the
includes Import/ Export Department, Purchase Department, and Marketing

company. As my major is Finance hence I started my internship from Finance

nt maximum time there as compared to time spent in the other departments of the

tment

ess is the main process. After weaving mill, the fabric is brought for the bleaching. The

ople ensure the Quality of work in the Bleaching to fulfill the desired quality.

s are used in Bleaching process:

ox:

cerizing

geing & De-sizing:

r:

er Mangle:

done from rotaries and now the route of the fabric depends on the dye class. If the

been used, then the fabric will be taken to first of all Ager Machine & then Goller en to Stenter finish & finally to the calendar.

very important and crucial which involves the following three machines: Thermosol: Steam:

ler Soaper Washing:

is the process which assures the quality of the fabric and gives it a perfect look. It is a

cess. The latest machines which include Stenters, Raising Machines & Sanforizing

n finishing process.

ment

as its Marketing Department to sell its finished goods. Gulberg fashion sells its

in the local as well as international markets. Gulberg fashion has an Export Department

to cater its international orders. Most of the yarn produced at Gulberg Fashion is being destinations including USA, UK, UAE, etc. For this purpose, Gulberg Fashion has an

o is responsible for the activities involved in the entire export process.

umentations the following documents which are made when Gulberg Fashion sells its products:

involved in export process

yer

ller

yer Bank

ller Bank

visory Bank

ontract

ollowing are mentioned:

yer

scription:

uantity:

cking:

ipment:

surance:

rices:

Amount

yment:

lended & filament yarn export contract registration

tract number contract date:

me of Exporter:

orting country

ntity

n type

ort price

ment term

credit

e things are mentioned:

ount

ing bank

licant

e of issue

iry date and place

eficiary

ial shipment

est date of shipment

ment schedule

e sent for negotiations with the buyers bank.

prepare pre-shipment documents which are as follows

cial Invoice

e documents are prepared on the companys letter pad. Only the name of the buyers

not the complete name of the buyer. Insurance in covered by the buyer.

ollowing things are mentioned:

tract No.

m E No.

ss Weight

Weight

ks & No.

cription of Goods

t Price

ount

ght

rice Certificate

C No.

rm E No.

oduct

y (Kgs)

and

rt of destination

rt of shipment

ntract no.

pe

rice

ayment

ountry

ontract Reg. No.

ontract date

moval of zero rated exemption is filed when the container is released from the factory;

nt to the head office.

ment

e purchase procedure of GFE:

der of material required at Factory is sent to Head Office. The demand arises

he store officer prepares the purchase requisition which is approved by the General

isition is then sent to head office. Purchase Department receives the requisition and

ounts Department for items coding and rate verification. Next it is forwarded to the

er for approval. The manager forwards it to the CEO for the final approval. If the

d by the CEO it is purchased by the Purchase Manager.

goods with bill, the purchase officer prepares Dispatch Advise as per items on the bills.

livers these documents in the shape of complete set to the Accounting Department. In

partment responsible person sends it to factory in the shape of summary. In the factory

es the bill and attaches some documents i.e. Gate entry pass, store intimation, GIRN

eipt note) to be sent back to the head office after signed by general manager. Finally

partment books the approved bill in the ledger party wise.

Internship Activities

nternship activities in Finance department GULBERG FASHION:

me were: 1) Preparation of bank payment voucher

ime I spent in the finance department of GFE, I used to prepare bank payment

ank payment voucher is used when payment is made for different types of expenses and

payables out of the bank account of the organization. Photo copy of the check is

he voucher when payment is made through check.

y for bank payment voucher is:

ount Debit

nt Credit 2) Preparation of bank receipt voucher voucher is used when payment is received and deposited into the bank account of the

. Deposit receipt is attached to the bank receipt voucher as supporting document.

entry is:

nt Debit

e Credit

eparation of journal voucher

used when there is not cash or bank is involved in a transaction. There are so many

s for which journal vouchers are prepared. For example, when goods are sold to the

unt, the journal transaction is recorded this way:

e Debit

dit

ers and cash payment vouchers are also used for the receipt and payment of cash. 4) Bank reconciliation statement

nancial matters of the organization, it was my responsibility to prepare bank

ment for the account of the GFE with the bank. Bank reconciliation statement usually

ence of presentation of the checks which were issued to the vendors for the payment.

sued to the vendor, it is up to the vendor whether he presents the check to the bank soon

variation of presentation of check leads to the variation in the balance in the records of

d balance of account in the record of bank. 5) Current account reconciliation

the organization is allocated to some portion of the total payments made by the

nciliation of that account is also necessary for determining the actual balance of

6) Budgeting for admin expenses

Assistant Manager Finance for making the budget for different kinds of expenses

d in maintaining the daily expenditures record of the organization. 7) Budget variance

eriod, the record of actual expenditures and budgeted expenditures are compared. So

determine the difference of estimated and actual amounts of various kinds of expenses.

n is helpful in making budget for next period. 8) Maintenance of different files

lity of mine is to maintain the files for different kinds of documents. 9) Preparation of Payroll Sheet

mportant document which is to be prepared in all organizations for the efficient

ed how to prepare payroll sheet in Gulberg Fashion.

Management Style of my senior

s been supervising me throughout this internship at Gulberg Corporation was Mr. He was the accounts officer in Gulberg Fashion. He started his career with the Gulberg

ck and fully satisfied with the working environment there. He is very supporting and his subordinates and appreciates everyone who works hard to complete the task

team player who makes his team-members working sincerely. He knows better how to

esolve conflict among the team-members in a very wise manner. SWOT analysis of the industry

quality of our yarn is very good for knitting and weaving.

istan is an agricultural country and we have quality cotton produced here especially in

of Rahim Yar Khan, Multan, etc.

major weakness is that we are not making enough finished products.

rldwide ladies garments constitute 60% and our contribution in that is near zero percent. main source of income to textile industry is undergarments and shirts only. brand name is not registered in international market.

istan Government is supporting the textile industry.

ns are available on low mark-up. labor is very intelligent and can be educated and skilled. We can have seminars to

ate people.

rket China and Bangladesh are major threats to Pakistan Textile Industry because in the

lectricity and labor is much cheaper and also the workers are more skilled. SWOT analysis of the Organization

ric of very good quality is used by the organization for export. management of the GFE is very competent, educated and visionary. They are making

use of resources and opportunities. relations with buying units are appreciable.

MIS system is there but it can be made better.

w software needs to be installed so that the workload on the employees reduces.

duction capacity is low, which needs to be increased for better competition.

ncrease its exports in the international market as there is high demand for quality

ountries in Europe and other continents.

y competitive so GFE needs expansion to compete in local as well as international

Identification of Issues/ Problems

cation and Scope of Specification:

ip in Gulberg Fashion Enterprise I was able to point out the following problems that

ng: i. There are very few incentives offered to the employees which are resulting in high turnover. ii. Due to absence of Human Resource Department, the organization faces recruitment

problems at lower level posts; therefore the GFEs current workforce is over burdened. iii. Employees lack job satisfaction and security. The reason for this is that if an employee does not agree with everything boss says they will not be in his good books and can be fired without any reason. Another reason is that most of he employees are hired on basis of relations and connections instead of merit. Lack of job satisfaction is leading to inefficiency in their work. For example, I have noticed several times that for a task which requires hardly thirty minutes the employees spend two hours just to show that they are working hard but in fact they are prolonging their work. iv. The employees are underpaid and if the employees request their boss to increase their pay mostly get an answer that the company is in a liquidity crunch. v. Another problem that the employees always complained was that the salary was never given on time. It was usual for the employees to receive their salary nine to thirteen days in delay from the date set by the management. Recommendation

m Resolution:

order to cope with the high turnover problem GFE needs to give bonuses and incentives

employees.

lberg Fashion needs to set up a Human Resource Department in order to inject

fied personnel in their workforce.

ulberg Fashion needs to hire employees on merit and the owners should praise

oyees based on their contribution towards their work.

rganization should revise the pay structure.

E needs to pay its employees on time because people working at the lower posts are

dy out of pocket and when they get their pay late it is hard to plan their monthly budget.

problem is not only troublesome for the employees but it also causes problems for the

ization as the employees will start getting fed up from not getting their pay on time and

ose concentration at work causing business more problems.

nuses and incentives will lead to higher efficiency for the firm and increase the

esss profits.

man Resource Department will lead to injection of fresh workforce with latest

ledge which will not only reduce the burden but the new knowledge will also help the

any.

iring of workforce on merit will lead to better quality of work for the organization and

ncrease the standard in the international and local workplace.

good pay structure will get the employees motivated in their job which as a result will

neficial for the firm.

e most vital problem that the organization needs to address is to give salaries on time

use it is human nature, that if a person is not mentally free he can not optimally perform

ir work.

lts: takes into account all the above mentioned problems and the proposed solutions the

s image improving in the market place. A good image will make it a market leader in

Recommendations for IBIT

ecommendations for IBIT:

ng relations of IBIT with the industry for the better future prospects of its students.

tinational companies, banks and government organizations will help in making IBITs

hich is actually required by the industry.

ity of IBIT to arrange internship for its students. Its not just on the students end to put

ecognition for IBIT, but IBIT must contribute its efforts because future of students of

Future of IBIT.

eminars

minars must be organized in order to help the students enhance their skills required by

minars will also be helpful for the IBIT and its students success.

e industry visits for its students on regular basis. It will help the students to get

fessional world where they are going to contribute their skills and knowledge.

e and offer its students a volunteer internship for its students may be lasting for 2 to 3

rogram. It will help students to get practical exposure of what they are learning at IBIT. Appendices

eight

t that insurance is covered by buyer.

d Freight a pricing term under which the seller pays all expenses involved in the

dise on board a carrier and in additional prepares the freight and insurance to an agreed

e that hauls cargo

eight

the seller will deliver the goods on to a vessel and pay all the normal charges to get the seaport. The buyer risks from the time the cargo is placed on to the vessel on the

rmit is required to export certain products to certain destinations. d) pricing term under which the seller must deliver goods on board the ship at the point

xpense.

ate

by the insurance company, usually to the order of shipper, under a marine policy and

ular shipment of merchandise.

ter of credit is one which can not be altered or canceled once it has been negotiated

his bank.

by the bank at buyers request in favor of a seller promising to pay an agreed amount

eipt by the bank of the certain documents within a specific time.

ch a draft or acceptance becomes due for payment. All countries having these

e equal treatment respect to customs and tariffs. Recommendation for next internship with Gulberg Fashion a well reputed organization in Sialkot city which is involved in exporting its products

of the world. It is recommended to start internship with Gulberg Fashion because of the

ment of the organization. People are the building block of every organization so suitable for the internship.

portunities to learn practical knowledge in the different areas of a business and textile

ashion. Internship with Gulberg Fashion gives professional exposure of what we have

uring our IBIT program.

References

m.pk

d Mir.

Us Policy

Us