COMPANY INCORPORATION & COMPLIANCES
register-limited-companyAssistance in carrying out the company secretarial duties including dealing with Registrar of Companies/Company Law Board.
Assistance in Company formations, conversions, winding up etc.
Preparation and filing of statutory returns, forms etc.
Preparation of all documentation related to minutes and resolutions.
Maintenance of statutory books.
General advice on company law issues.
Assistance in incorporation of Company which includes obtaining the name approval, drafting of the Memorandum and Articles of Association of the Company, liaising with the Registrar of Company for obtaining the Certificate of Incorporation etc., liaising with other concerned departments for obtaining approval of SIA, FIPB and RBI where ever applicable.
Registration of Indian Branch/Liaison/Project office/Subsidiary of foreign companies.
Providing clarifications and opinions on the Companies Act, Foreign Exchange Management Act (FEMA) and other Corporate Laws.
Advice regarding the recurring compliances under the Indian Companies Act such as holding of the Board meetings, convening of General Meetings, forms and documents to be filed with the Registrar of Companies, etc.
Assistance in registration with Foreign Contribution Regulation Act (FCRA) and related services.
Identification of issues such as managerial remuneration payable to directors, charges on properties, and advice on the implications under the Indian Corporate laws on such issues.
Providing assistance in liquidating Companies under Indian Companies Act, 1956.
A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.
There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners and IndiaFilings can help start a registered or un-registered Partnership firm in India.
Reasons to Register a Partnership
Easy to Start
A Partnership is easy to form as no cumbersome legal formalities are involved. Its registration is also not essential. However, if the firm is not registered, it will be deprived of certain legal benefits. The Registrar of Firms is responsible for registering partnership firms.
Since the name of a Partnership firm is not registered, a Partnership firm can choose to have any name - as long as it does not infringe on a registered trademark. However, since the name is not registered, any other person can also use the same business name unless trademark registration is obtained.
Annual Filing NOT Required
A Partnership firm is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. Limited Liability Partnership's and Company's are required to file their annual accounts with Registrar of Companies each year.
In a Partnership firm, the partnership deed will determine the ownership of the firm, profit sharing ratio, rights and responsibilities of each of the Partner. A partnership deed can be registered with the Registrar.
Bank account can be opened in the name of a Partnership firm. To open bank account, the partnership deed copy and KYC documents of the Partner must be submitted along with any other document as required by the Bank.
Market entry analysis articulating the trade-offs for discussion by your executive
Business case assurance to deliver a credible and robust business case
Preliminary assessment of international regions to focus your entry into a single market
Financial analysis providing indicative cash flow comparisons of cost, taxes and profits of alternate locations for your new or expanding operations.”
Qualitative assessments on accessing talent, infrastructure, market entry, quality and availability of industry value chain, quality management and geopolitical risk.
“Our services support you to source the numbers to complete internal concept papers and business cases for international expansion to improve the quality of your decisions. Quality inputs enable you to deliver insightful conversations with your leadership and executive team to deliver the project on scope, on budget, on time and within risk appetite.
We can navigate start-ups and SMEs through the decision process end to end
We can accelerate large companies to sift through the vast number of location alternatives and narrow the scope so that your advisers can focus their global knowledge on delivering a rigorous analysis on your alternatives.
As our client base demonstrates, leading consultants trust International Investment Service to complement their offering to deliver their client’s international ambition.”
Good inventory management, like everything else, starts with good planning. But planning isn’t just the start; it’s the very foundation of effective inventory control.
Inventory planning also happens to be an area that many companies fail to prioritise sufficiently.
In this brief guide, we’ll explain why good inventory planning is so important to the success of your business, explore the consequences of poor planning, and consider the requisites for improvement in this key inventory management activity.
The Basics of Inventory Planning
Inventory planning touches a number of supply chain components and includes all the decision-making responsibilities associated with the acquisition and deployment of inventory, which can include raw materials, work-in-progress, and finished goods.
These responsibilities extend across functions and when properly exercised, comprise supply, demand, distribution, production, purchasing and capacity planning.
Because inventory planning involves the determination of inventory quantities, timing, and alignment with production capacity and sales volume, it’s a strategic management imperative which directly impacts your company’s cash-flow and profitability.
Good inventory planning supports a number of vital business objectives including:
Customer service and satisfaction
Supply chain efficiency
Control of costs
Accurate sales and demand forecasting
The Cost of Poor Inventory Planning
If your company is not at the top of its game when it comes to inventory planning, your ability to manage inventory will suffer. In turn, operating costs will be higher than they need to be and revenue will also be impacted.
The physical impact of poor inventory planning can manifest itself in a number of ways, which include:
Excess inventory and obsolescence
Inventory shortages and out-of-stocks
Tension between your company and its suppliers
Excesses and/or shortages of storage capacity
Elements of Good Inventory Planning
Good inventory planning, by its very nature, is all about creating the conditions which make it easy to manage inventory. It’s about preventing the issues described above and optimising the flow of inventory through the supply chain.
While not necessarily a straightforward activity, good inventory planning is more achievable today than it has ever been. This is largely thanks to 21st century technology, but also due to the establishment of best practices in the years since supply chain management emerged as a business concept.
Good inventory planning is based on the effective integration of processes, governance, people, and technology. Let’s take a brief look at each of those elements and how you can apply them to improve inventory-planning performance.
Technology and People
Before you can develop and implement a structure of governance for inventory planning, your company will need to assess and implement the necessary asset-mix, composed primarily of information-technology and people.
Inventory planning technology: While it is possible to use spreadsheets for inventory planning, this level of technology doesn’t offer anything like the performance of enterprise analytics solutions or even that of a low-end ERP platform. If your company is serious about making inventory-planning improvements, provision should be made for appropriate data-processing capabilities.
Inventory planning roles and responsibilities: As mentioned at the beginning of this article, inventory planning is an activity which crosses functional divides. Main actors in each function should have clearly defined roles and responsibilities. At the same time, they need to be provided with an environment enabling a collaborative approach to planning.
Companies which enjoy success with inventory planning will typically maintain a sales and operations planning program (S&OP) which fosters cross-functional communication and cooperation to keep plans aligned throughout the enterprise.
Governance and Process
There should be little need for the use of gut feeling in inventory planning. If a sound governance platform is established, comprising documented policies, processes, checks, and balances, your inventory management team should find itself equipped to proactively plan and manage the inventory dynamics within your supply chain.
Inventory planning policies: Policies should be developed, documented, and clearly communicated to all teams and individuals involved in inventory management. Where necessary, this includes vendors and supply chain partners such as 3PL logistics providers. Policies serve to provide high level governance for inventory planning, and act as a platform upon which to develop detailed step-by-step processes for all planning activities.
Inventory planning processes: As with policies, inventory planning processes should be documented and wherever possible, standardised. They should cover physical activities and those performed with the aid of planning software. Data processes should be developed to control system inputs and validate outputs.
Inventory planning metrics and KPIs: You should be able to quantify the performance of systems, processes, and people involved in inventory planning. In order to do this, you’ll need to establish a set of KPIs and metrics. Examples of good inventory planning KPIs include:
Inventory accuracy: To measure how accurately your system inventory reflects physical stock and vice versa.
Percentage of customer orders impacted by stock-outs
Days sales of inventory
Sales forecast accuracy
Percentage of warehouse capacity utilised
Things to Consider Before Upgrading Your Inventory Planning
Simply recognising that inventory planning could be improved is an important step toward higher profitability and reduced costs in your enterprise. If you do believe it’s time to make improvements though, bear the following points in mind when embarking on an inventory planning revamp:
Inventory planning will not directly address inventory shrinkage, so if this is a problem in your organisation, you will need to consider other measures for shrinkage reduction.
It’s probably unrealistic to try and improve inventory planning without also addressing execution. If your inventory management in general is lax, planning improvements alone will not improve things.
Be prepared for some pretty hefty financial investment. Good inventory planning is not cheap to achieve and it can take a while to see meaningful returns—but they will come in time.
An initiative to improve inventory planning can entail some fairly substantial changes. Be prepared for the possibility that with all the training and mindset changes required, you may lose a few people as the journey progresses
Good Inventory Planning is Good for Everyone
Notwithstanding the time, effort, and investment involved, getting on top of the inventory planning game is one of the most important improvements your company can make in its supply chain operation.
As your improvements start to take effect, the benefits will be felt by everybody, including your management team and workforce, your logistics partners and suppliers, and perhaps most importantly, your customers.
If you’d like some assistance with inventory planning improvements, the Logistics Bureau team is ready and waiting. Why not take a look at the professional services we offer, and get in touch if you have any questions or would like to discuss how we can help.
Cash Management in an Organization
Cash Management means managing the cash in currency form, bank balances and readily marketable securities. Cash is the most important component of working capital of a firm. Cash is the life blood of the business, so managed well means the business remains healthy and strong. Each firm holds cash to some extent at any point of time. Source of this cash may be the working capital operating cycle or capital inflows. Similarly the outflow of cash from the cash reservoir of a firm can be either to the operating cycle or for capital repayment.
Motives for holding cash
This is the most essential motive for holding cash because cash is the medium through which all the transactions of the firm are carried out. Some examples of transactions of a manufacturing firm are given below.
v Purchase of capital goods like plant and machinery
v Purchase of Raw material and components
v Payment of rent and wages
v Payment for utilities like water, power and telephone
Since cash is the most liquid current assets, it has the maximum potential of value addition to a firm’s business.
This motive of holding cash takes into account the element of uncertainty associated with any form of business. The uncertainty can result in prolongation of the working capital operating cycle or even its disruption. This is one of the important motives of cash management.
Level of cash holding for an organization
The level of cash holding of a firm depends upon a number of factors.
Nature of business
If the firm is engaged in cash purchase of raw material from a number of sources, its requirement of cash would be more than that a firm which buys on credit. Also a firm having cash purchase and cash sale would need to maintain more cash balance than a firm which buys on credit and sells on credit. A firm buying in cash and selling on credit is likely to have strained cash flows. On the other hand a firm buying on credit and selling in cash has comfortable cash balances.
Extent and reach of the business
A multi location firm having a number of large and small branches has more cash requirement than a single location firm.
Cash is the most fundamental part of any organization so effective utilization of cash is very essential to the success of the business. Cash management is one of the crucial part of an accounting system. Emirates Chartered Accountants Group Dubai provides different ways of managing the cash in an organization
A cash flow statement is one of the most important financial statements for a project or business. The statement can be as simple as a one page analysis or may involve several schedules that feed information into a central statement. Good cash management can improve a company’s liquidity, reduce costs, and increase profitability. A cash flow statement is not only concerned with the amount of the cash flows but also the timing of the flows. Many cash flows are constructed with multiple time periods. Iyer Associates can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly.
Capital budgeting is a tool that financial analysts can use to support business decision-making by using thorough, contextual information about potential capital investments. Capital budgeting can be complex, so it can be easy to get lost in the details of the financial calculations and lose track of the bigger picture. The best capital budgeting analyses paint a simple picture of the benefits, costs, and risks associated with potential investments and expenditures, so management can make informed decisions about capital investment.
To a business entity, cash flow and budgeting analysis is something that can make or break the business’ ability to survive. We can help you analyze your spending, rebalance your budget and/or debts for an optimal cash flow to support your business’ success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
Purpose – This paper aims to assess the usefulness of cost-to-serve for customer profitability management through literature review and a case study in a food-industry company. Design/methodology/approach – The research is based on a case study. The study presents the state-of-the-art of the literature review related to cost-to-serve measurement and customer profitability analysis and a case study of a Brazilian food-industry company with high operational complexity and an extensive customer product and commercial service line. Findings – The literature review demonstrates that few empirical studies have actually addressed the problem of cost-to-serve measurement and customer profitability analysis. The findings of the study show that the measurement of cost-to-serve provides specific and detailed customer information that enables a more comprehensive customer profitability analysis than the classical paradigm. Research limitations/implications – A single case study does not allow the results to be generalized to other organizations. Originality/value – The paper includes a comprehensive review of literature and the empirical case study in a Brazilian food company offers additional insights in cost-to-serve measurement and customer profitability analysis.