Internal Audit

Raghunath. T, Director

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    Challenge

    • No practice of periodic evaluation of suppliers’ performance.

    Work done and Impact

    • Ensured the implementation of an objective supplier evaluation process

    Action / Impact:

    Were able to understand that there was a need to replace some suppliers and balance purchases across others; about 6 new suppliers were identified resulting in improved costs, lead times and QC compliance

    Challenge

    • Poor stock controls and inadequate review of goods on the production floor

    Work done and Impact

    • In-depth analysis of stock was done across different stages of production – Raw Material  / Work In Progress / Finished Goods

    Action / Impact:

    Reduction in the value of items in the WIP warehouse by approx. 33% over a 6-month period without loss in production output

     

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