AN ANALYSIS ON DEMAND AND FORECASTING OF PLASTIC PRODUCT IN PUDUCHERRY

1. AN ANALYSIS ON DEMAND AND FORECASTING OF PLASTIC PRODUCT IN PUDUCHERRY ACT PLASTIC PVT (LTD) UNDER THE GUIDANCE OF Internal Guide: Ms. G.VIDHYA, M.B.A,M.Phil. LECTURER DEPT. OF MANAGEMENT STUDIES SMVCE External Guide: Mr. S.A.GANESH,M.B.A Marketing Manger ACT PLASTIC PVT (LTD), Puducherry,

2. COMPANY PROFILE • ACT is prestigious manufacturer and supplier of industrial mouldings, commodity mouldings, automotive mouldings, machine parts painting, single point source for spares, etc. Initially started in Pondicherry, ACT soon expanded our operations to Chennai. • ACT are one of the leading manufacturers and exporters of industrial moulding, commodity moulding, automotive moulding, machine parts painting, single point source for spares, etc. Established in July 2003 in Pondicherry, ACT soon expanded our operations and set up office in Chennai in March 2006.

3. CORPORATE VISION • ACT envisage becoming a single source supplier of molding, painting requirements and any other outsourcing requirements” MISION • Building up high quality of performance with team spirit • Meeting Customer Requirements by Zero defects • Continual Improvement CLIENTELE • GM Pens International Private Ltd., (Reynolds,) • Nilkamal Plastics • Brite Brothers Private Ltd. • Supreme Industries Private Ltd, • TVS Sundaram Fasteners Limited, etc.

4. NEED FOR THE STUDY • This analysis helps to pre estimate the demand about the plastic products. • This analysis helps concern to get the decision about the market and devise suitable strategies for expansion. • Since forecasting considers being backbone of the Company sales, this progression will lead to the success of the Company’s expansions strategy. • This analysis help to know the opportunities and threats of plastic product demand

5. REVIEW OF LITERATURE • Demands are wants for specific products backed by an ability to pay. Many people want a Mercedes; only a few are willing and able to buy one. Companies must measure not only how many people want their product but also how many would actually be willing and able to buy it • Forecasting the art of anticipating what buyers are likely to do under a given set of conditions

6. OBJECTIVES OF THE PROJECT • To identify potential demand for the plastic product at different areas in Puducherry. • To estimate demand of plastic product in near future. • To find out the consumption rate of plastic product in Puducherry. • To study and understand the quality needs of plastic product by the customer. • To identify competitor market demand.

7. METHODOLOGY • Source of data- Primary data • Sampling Method- Convenient Sampling Method • Sample Size- 50 • Instrument – Questionnaire • Data collection- Drop and Collect method • Data analysis- SPSS Package version 14 • Statistical analysis- diagrammatic representation, weighted average method

8. FINDINGS • From the study if is found that 36% is commodity ,14% is automobile , 22% is engineering ,12% is textile and 16% is medicine • From the study we found that most of industry exist above 10 years(48%) in the industry. 36 % of respondent have 4-5 years experience and 16 % have 6-10 years experience • According to the study it is found that most of the industry placed an order based on demand ( 90%), and 6 % of the respondent placing the order on the basis of seasonal • From the study it is found that quantity of plastic needed per month (injection molding) for 6-15 ton is 52% and 26-40 ton is 48%. • In ACT Plastic according to the study it is found that, most of the industry had opinion that similar products offered by other suppliers is about the same(80%) compare to present supplier

9. Cont…. • From that study it is found that majority of the industries needed specification of plastic product is 1-250 grams (86%) and 14 % of the respondent needed 251 – 500 gms • It is found that raw material used by more industry are ABS (40%)and PPHP & PPLP (40%). 20 % of the respondent are using all kind of materials. • It is found that, 52% of the industry need 6-15 tons of blow molding per month and 48 % of the respondent needed of the plastics upto 40 ton. • According to this study it is found that , 62% of the industry need above 40 tons of Injection Molding per month after 2 year and 38 % of the respondent needed 26 – 40 tonns after 2 years per month • It is found that, 94% are satisfied with the present supplier • From the study it is found that 28% of market share occupied by supreme next to that is saba (18%) • From the study it is found that, most of the industry highly satisfied with the service(90%) of supplier for purchasing raw material and most of them satisfied with the delivery time ,safety and reliability for purchasing raw material • From the study it is found that, most of the industries purchase raw material first because of low cost then second by delivery time followed by brand and service

10. SUGGESTION AND RECOMMENDATIONS • Overall study it is observed that there is high quantity of plastics will be demanded in future. Many Original Equipment Manufacturing (OEM) and plastics needs company planning to setup the plant in Pondicherry. • The company can installed the high technology injection moulding machines. Presently ACT Company using Low technology and manual machines, this can be changed. • The company can follow the expansion strategy. • The Company can for go for certification like TPM, EMS, and TS 16496

11. CONCLUSION • In today’s business dynamic, knowledge and technology based, people are being called on take on higher and more complex responsibilities. With increased responsibility, comes higher impact on the organization’s success. Demand and forecasting, a main strategy for identify the market potential. The demand forecast gives the expected levels of demand for goods or services. This is the basic input for business planning and control. Hence, the decisions for all the functions of any corporate house are influenced by the demand forecast. • Finally, From the overall study of an analysis on demand and forecasting of plastic product the researcher may conclude that there is huge need of plastics will be demanded after 2 years in plastics sectors in Puducherry location. It may be Approximately 50 tons per month. This will happen due to many Original Equipment Manufacturing units planning to Setup Company in Puducherry Locations. Once the demands are identified, it would be possible for the management to take the necessary action to improve the business.

12. LIMITATIONS OF THE PROJECT • The study is based upon small populations like 50 samples • The time duration of the study is less than the expected • Since this is the new project called “demand and forecasting”, sufficient review of literature /case study is not available. • The Project data can be valid up to six months, Hence there are chances of changes in the findings and result obtained

13. SCOPE FOR THE FURTHER STUDY • The project throws light on the specification for plastic product in Puducherry • The project was developed to identify potential demand for plastic product • It will be helpful for the Management to expand the plant in future. • This project can be base for the students who are doing the project in the related area.

14. THANK YOU SUBMITTED BY C.GANESH KUMAR II YEAR M.B.A