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What is the fundamental role of information system in business?
What is fundamental information system What is fundamental information system What is fundamental information system What is fundamental information system
What do you mean by system audit?
System audit is a process of checking and illustrating a system.
Manual accounting system vs computerized accounting system?
manual system is labor-intensive while computer-based system is easy and fast.....
What is voucher system of accounting?
Voucher system is used for the payment of bills properly, is called voucher system.
What is the medical pegboard system?
what is a medical pegboard system
What is the population of Parta Nagla?
The population of Parta Nagla is 600.
When was Parta hic created?
Parta hic was created in 1976.
When was První parta created?
První parta was created in 1937.
What is the English translation for Labore Parta?
Gloria immortalis labore parta. Immortal glory is brought forth by labor.
Who makes Soyo TVs?
I know tjey use Samsung parta
What is 'labore parta' in English?
The English translation of the Latin phrase 'labore parta' is the following: born out of labor. The word-by-word translation is as follows: 'labore' means 'from or out of labor'; and 'parta' means 'born or brought forth'. The word 'parta' is the participial form of the verb 'parere', which means 'to bring forth, to bear'.
What actors and actresses appeared in Parta ola - 2003?
The cast of Parta ola - 2003 includes: Melina Argyriou Alberto Eskenazy Mihalis Gounaris Vana Pefani Odysseas Stamoulis
What actors and actresses appeared in O gios tou parta ola - 1986?
The cast of O gios tou parta ola - 1986 includes: Lily Dertima Costas Hajihristos Athinodoros Prousalis Tasos Psomopoulos
What does mihi-parta-tueri mean?
I guard (defend) that which is mine
Meaning of parta system in strategic management?
The late Mr. Ghanashyam Das Birla, the grandfather of the late Mr. Aditya Birla developed the system. Parta means what will be the return to pocket in net. Parta is a system of establishing return on Investment based on Cost Management. Since the Group had diversified in different businesses based on availability of licence, technology & resources for raw material they needed a system to monitor profits consistently. It is a system of accountability based on which each company in the group had to draw a series of estimates for any new investment: how much it should cost to manufacture a particular volume of product, sell it & make a profit. The Project department will give the cost of capital for different capacity levels or different processes or different raw materials. These are the tools to analyse new businesses, viability of new & old business. This will also give factual information for investment to Stake Holders including Bankers and helps later on for review and monitoring based on norms and commitment given while taking sanction of Capital purchase. The group maintained very good control on preoperative costs to keep a healthy cash flow. There have been hardly any cases of overrun I have seen during my tenure of over 25 Years with Aditya Birla Group. Parta could be of different types: 1. Production based -Capacity of each equipment based on guarantee of production given by the manufacturer of machinery. There are cases where the Birla companies exceeded the rated manufacture. Manufacturers came and studied the factors that enabled overshooting of rated production. Estimate of investment will give the capacity of project. (Where supply is short of demand). Like - Birla super. 2. Market Based -With increase in capacity in items where demand was lesser than supply, it was based on market research & projected estimates. Dynamics of changes in policy may give further moderation like Birla White. Parta is normally made at the start of Project / New Plant / New Machinery / New Product Manufacturing. All information were validated by discussion & questioning with related persons Finally the member of the Birla family approves Parta for each unit. Sanction for capital expenditure is given only after the Parta is approved. Working of parta to get details of (1) INPUT Raw Material (a) Mix (Quantity), (b) Source, (c) Quality (2) Production Cost, (a) Capacity Utilization, (b) plant no of days running in year (3) Selling & Administrative Cost per Unit of Product, 1) Fixed 2) variable (4) Marketing & Advertising costs: one-time and Regular. There is a meeting of different units manufacturing the same product (like cement business parta) at a common place which generates healthy competition and sharing of knowledge as well as concerns. Parta system keeps a close watch on efficiency. Parta-- Executive summary -It is MIS tool developed by Birlas, commonly accepted by all -Challenge and Controls generates competition to perform better than the best. -Parta is a control device in micro terms for time (Daily Parta), product mix, consumption, logistics, sales volumes, and profits and losses. -Corrective actions are taken in time - A Stitch In Time Saves Nine. -Each and every rupee spent either towards capital expenditure or revenue expenditure must earn in a pre decided time Parta is to see that the object is met. -Not only Production or Sales are monitored through parta but almost all aspects of cost and revenue. Out Put - Selling Price, Return- Discount I Brokerage I Commission, Freight, Tax. Market Mix Product Mix Finance Cost- (a) Interest (b) Borrowing Mix (c) Cost of public issue Parta = Selling Cost -(Manufacturing Cost + Administrative Cost include finance cost) = Net Profit Once master parta is made then the monthly Target is made based on environment of marketing & Plant Machinery running (after shut down required for maintenance) Time. Parta v/s Target explained by CEO I COO to the member of Birla Group who is in charge of the particular unit. Target v/s Daily Working is explained by Head of function, marketing I Com/Production, to CEO. For exceptions & action corrective actions are taken in time - Parta v/s Target - (Monthly Profitability Statement) exceptions. Monthly Progress Report. Target v/s Daily - Daily Report of Profit (loss) & specific Break down etc Daily report is for Daily Parta of Gain (Loss) Statement i.e. only minus figures are reported & update is for the month. It is the control device in Micro terms for time, product mix, consumption & yield of raw material, logistics, sales volume & profit / loss. Cumulative Average = Cumulative Profitability/Working days By 20th of the month you must be near the target; if not, a serious review is done between Mr. Birla and the CEO and the Head of Function. Change in Parta takes place if there is Marketing Change / Plant Capacity Change I Raw Material factor Change / Product factor Change Excellence & Constraints in System Having worked in different groups I find the system is ideal in principle for a multi unit group. It is a convenient and efficient mechanism for control and monitoring. The changes are less and proper Home Work is done. But it could not be owned by young Managers due to Secrecy & rigidity of Top man in fixing norms and intolerable attitude of the top person for facts. Also mostly it was a production oriented system i.e. the underlying assumptions of "whatever is produced will be sold". In making parta one may challenge norms & its controls generate competition to perform better than the previous best. Parta monitors all aspects of business not only sales or production. It is a dynamic concept, which changes with any major change. Main parta has full details of working running into more than 100 pages while daily review is on one sheet and the monthly review goes up to 10 sheets. · Parta is a dynamic concept and not only an academic one, and this is proved during the last 100 years of Birla record of growth. · The CEO gives his explanation for the exceptional items to Mr. Birla. · The group organizes Parta conferences at different places, and different unit teams deliberate almost all the aspects so as to determine targets for expenses and savings. · Parta conference generates a healthy competition amongst the units and ultimately the Bottom-lines are improved for all the organizations. Parta is thus a powerful tool for ensuring the continued viability of the unit.
What actors and actresses appeared in Karhanova parta - 1951?
The cast of Karhanova parta - 1951 includes: Frantisek Hanus Josef Hlinomaz as Worker Jaroslav Mares as Jarka Karhan Jindrich Plachta as Fikejs Zdenek Savrda Jaroslav Zrotal as Chairman of ksc
What does 'Pax terra marique parta' mean in Latin?
It means "peace on earth and on the sea having been born."
