A PROJECT REPORT ON

A report on experience in book keeping with respect

to recording of purchase and sales transaction at Arctic
Exports private limited

A PROJECT SUBMITTED TO

UNIVERSITY OF MUMBAI for partial completion of the degree of

Bachelor of Management Studies
Under the faculty of Commerce

By
Mr. Biki Ramesh Mourya

Under the Guidance of

Prof. Harsha

ROLL NO. 18

DIV - B

NIRMALA MEMORIAL COLLEGE

KANDIVALI (E), MUMBAI-400067

 (2019 - 20)

Arctic Exports private limited

 DECLARATION

I, the undersigned Mr. Biki Ramesh Mourya hereby, declare that the work
embodied in this project work titled “A report on experience in book keeping
with respect to recording of purchase and sales transaction at Arctic exports
private limited ” forms my own contribution to the research work carried out
under the guidance of Prof. Harsha is a result of my own research work and
has not been previously submitted to any other University for any other Degree/
Diploma to this or any other University.

Wherever reference has been made to previous works of others, it has been
clearly indicated as such and included in the bibliography.

I, hereby further declare that all information of this document has been obtained
and presented in accordance with academic rules and ethical conduct.

Mr. Biki Ramesh Mourya

Certified by

Prof. Harsha
Date: 5th January, 2020

CERTIFICATE

This is to certify that Mr. Biki Ramesh Mourya has worked and duly completed
his project work for the Degree of Bachelor of Management Studies under the
faculty of Commerce in the subject of FINANCE and his project is entitled “ A
report on experience in book keeping with respect to recording of purchase and
sales transaction at Arctic exports private limited ” under my supervision.

I further certify that my entire work has been done by the learner under my
guidance and that no part of it has been submitted previously for any degree or
diploma of any University.

It is his own work and facts reported by his personal findings and investigations.

Signature of the Project Internal Guide

(Prof. Harsha)

Date of Submission :

ACKNOWLEDGEMENT
To list who all have helped me is difficult because they are so numerous and
depth is so enormous.

I would like to acknowledge the following as being idealistic channels and fresh
dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance
to do this project.

I take this opportunity to thank our Coordinator Prof. Poonam Kakkad , for
her moral support and guidance.

I would also like to express my sincere gratitude towards my project guide Prof.
Harsha whose guidance and care made the project successful.

I would like to thank my college library, for having provided reference books
and magazines related to my project.

Lastly, I would like to thank each and every person who directly and indirectly
helped me in the completion of the project especially my parents and peers who
supported me throughout my project.

INDEX
SR
TITLE PAGE NO.
NO.

7
1 EXECUTIVE SUMMARY

INTRODUCTION TO 8
2
THE COMPANY

23
3 STATEMENT AND OBJECTIVE

ROLE IN THE ORGANIZATION

30
4 DURING THE INTERNSHIP

47
5 CHALLENGES

CONCLUSION &
51
6 SUGGESTIONS
ANNEXURE 56
 Executive Summary

The Indian economy has been growing at an average rate of more than 8 per cent over the
last four years putting enormous demands on its productive infrastructure. Whether it is
the physical infrastructure of road, ports, water, power etc. or the digital infrastructure of
broadband networks, telecommunication etc. or the service infrastructure of logistics – all
are being stretched to perform beyond their capabilities. Interestingly, this is leading to an
emergence of innovative practices to allow business and public service to operate at a
higher growth rate in an environment where the support systems are getting augmented
concurrently. In this paper, we present the status of the evolving logistics sector in India,
innovations therein through interesting business models and the challenges that it faces in
years to come.

Broadly speaking, the Indian logistics sector, as elsewhere, comprises the entire inbound
and outbound segments of the manufacturing and service supply chains. Of late, the
logistics infrastructure has received lot of attention both from business and industry as
well as policy makers. However, the role of managing this infrastructure (or the logistics
management regimen) to effectively compete has been slightly under-emphasized.
Inadequate logistics infrastructure has an effect of creating bottlenecks in the growth of an
economy, the logistics management regimen has the capability of overcoming the
disadvantages of the infrastructure in the short run while providing cutting edge
competitiveness in the long term. It is here that exist several challenges as well as
opportunities for the Indian economy. There are several models that seem to be emerging
based on the critical needs of the Indian economy that can stand as viable models for other
global economies as well.

INTRODUCTION TO THE COMPANY

 About Company

Arctic Exports Private Limited was established in 2006 with 5 branches, and has since
grown into the leading cargo handlers. To meet the growing demands of their valuable and
supporting customers they have established 9 branches at present. At each step they take
towards advancement and always realize that customers are the foundation stone of the
success. With unique combination of expertise, infrastructure and dedicated personnel
Arctic Exports Private Limited ensure value added service with all the benefits being
transferred to our clients.

The goal is to build long term association with our valued customers for mutual benefits
and understand well about their requirements, to serve them better. Main objective is the
satisfaction of the customers by providing timely service, information and guidance. The
office at Pondicherry doing India distribution and worldwide Logistics solutions.

As Logistics is a part of Product offering, Arctic Exports Private Limited is committed to

provide a real value for money, by way of giving critical information, so as to contribute
to their winning advantage. Arctic Exports Private Limited, is well-versed in providing
prompt, reliable and consistent service, also assured to their customers with affordable and
comprehensive business solutions. Arctic Exports Private Limited is mounting firm
headquartered at Pondicherry, India, amongst the renowned global logistics service
providers.

Arctic Exports Private Limited is committed to become a full fledged third party logistic
solution provider, attributing world-class service to their customers, across globe.

• Integrity

• Commitment
• Professionalism

• Innovation

• Adaptability

• Consistency

• Dedicated Customer service

• Understanding & Development

Global Supply Chain

Managing inventory is a very big challenge now‐ a‐ days to manage within their budget
and its time-sensitive. And now it is very common to go global sourcing for most of the
business houses. However, they are committed to provide the valued customers for
fruitful, reliable business partner for end‐ to‐ end supply chain activity, as well.

Value Chain

Arctic Exports Private Limited is designed to ensure that each and every stages of the
supply chain activity will carefully planned and coordinated well. An outstanding team of
professionals, committed to the excellence by way of providing timely and accurate
information and guidance, as real value for the customer’s money.

To make use of their agent network and Logistics partners across the globe, they obviously
support all the customer’s sourcing and selling anywhere to anywhere in the globe.

SOP – Standard Operating Procedures

To understand well about the specific logistics needs and requirements. The study is
conducted all expectations of a customer in order to setting up a detailed process flow to
check all the deviations and ensure a reliable business module to the industry specific.
 The effective way of implement standardized operating procedure, the firm develops and
implement and maintain a real‐ time solution, which is fundamental and instrumental to
all customer’s supply chain management.

GROUPING (CONSOL)

A cost‐ effective way of freight management to do advance space block in the respective
airlines.

Arctic Exports Private Limited facilitate to their customers by doing cargo consolidation
air/sea which includes the transportation of cargo to the loading point, loading the cargo
into containers, processing the shipping documents with execution of necessary custom
formalities, use premium air/sea carriers and make sure that the cargo will in‐ time to the
respective destinations well before the stipulated time indicated by the most of their
customers.

List of Services

• Customs Clearance

• World-Wide Sea-Freight and Air-Freight

• Warehousing and Packaging solutions

• Value Added Services for companies who require a reliable partnership with a credible
global logistics business

• Door to Door

• Reverse Logistics

Sea Freight Services

 • Reliable, safe, competitive sea-freight solutions

• LCL (Less than Container Load)

• FCL (Full Container Load) – Standard, Open Top, Flat-Rack, Tanker, Reefer containers
available

• Break-Bulk

• Roll-On-Roll-Off

• Out-of-Gauge cargo

• Hazardous cargo

• Specialists in large project shipments, but at Arctic Exports no shipment is too small

• World-Wide Import/Exports, including Cross-Trade shipments

• Regular sailings utilizing their network of overseas partners and all major carriers

• Air Freight Services

Fast, reliable, secure and competitive air-freight solutions
Flights to all major international destinations
We regularly handle anything from heavy plant – industrial – light domestic Equipment

• Daily low cost consolidations world-wide, all-cargo carriers, and charters are utilized

• Services include door-destination airport, and door-door

• Packaging suitable for Air-Freight is an important issue –can offer solutions

Custom Clearance Services

 Arctic Exports Private Limited expert team files many of customs entries, and handle all
aspects of customs process, including: import / export clearance, declarations, proforma
invoices and certificates of origin. The expertise in the field also covers customs
regulations, bond requirements, and duty rates.

The customs clearance services for various import and export consignments include the
following:

• Guidance and consultation, liaisioning and follow up with various reputed

Organizations.

• All post shipment formalities and endorsements.

• Documentation procedures i.e. preparation and handling of documents.

• Drawback and several other export benefits.

• Clients who have their freight and Customs clearances combined with Arctic Exports,
enjoy smoother transits through international border countries.

• The clients have access to a specialist 24/7 service meaning you can ask us a question
any time of day.

• Contact Arctic Exports Private Limited to discuss how assistance can be provided with
all the Customs Formalities.

• WAREHOUSING SOLUTIONS

Arctic Exports Private Limited, can deal into various projects of the supply chain
Management for simple storage.
The customs clearance services for various import and export consignments include the
entire inventory management of packing and distribution solutions. The company is
equipped to handle various types and sizes of your stocks from fire, pilferage, damage,
shortage... etc....

Arctic Exports Private Limited has a team of experienced in all the aspects of duties and
responsibilities of receiving, documenting, storage, billing and distribution by end to end.

3PL Services

• Pick & pack

• Custom bonded warehousing

• Dangerous goods handling and storage

• Expertise in handling FMCG/Pharma/Engg/Autoparts. Consumer Electronics, Etc.,

• Just-In-Time Inventory management

• Temperature controlled storage.

• Consulting – Optimising the Logistics process

• Factory Logistics

• Project Logistics

Arctic Exports Private Limited is equipped with handling pin to the extraordinary size of
inventory to customize a unique warehousing solution that fit into your real needs, as well.
To facilitate real value for the customer money, Arctic Exports Private Limited engages
the existing warehouse setup itself; and will provide exclusive arrangement to store your
cargo.

As third party Logistics solutions provider, Arctic Exports Private Limited can give
customer, their, best possible and reliable solutions to reduce your warehousing budget
and time significantly and efficiently.

TRANSPORT LOGISTICS
Arctic Exports Private Limited, can move customer shipments from one place to another
place at the right time and right mode and the right cost by within the country or across
the borders by simple cargo or individual truck loads by regular or express mode of
transshipment.

They are able to manage complex and dedicated distribution mechanism, also provide cost
effective time bound solutions to manage client inventory planning. They are supported
by a wide range of additional solutions like Insurance, Import and Export customs
processes and export pacing solutions.

Arctic Exports Private Limited can offer client the standardized and tailor-made solutions
to manage the supply chain management. They establish necessary arrangements for truck
transport operations with fleet owners, in which consist of many kinds of vehicles ranging
from small, medium and heavy trucks carrying small packets to mega tankers and a special
equipments like Liquids, Fragile cargo, ODD size cargo, special containers, tankers
dangerous goods handling and storage and break bulk cargo.

• Distribution Logistics

• Document related Services

• Dangerous Goods Handling

• Dangerous Goods Handling

• Special / Heavy Transport

• Supply Chain Management

• Temperature controlled Transport

• Time Bound Transport.

• Package Solutions.

• Insurance
 • Interim Storage.

TRADE LOGISTICS

• Can work as an “Importer” and Arctic Exports Private Limited can provide complete
Logistics support to many of their customers

• Give them consulting and advisory services to our customers who is wishing to source
their requirements in Indian Market.

• Vendor selection and maintaining business agreements

• Overseas quality aspects and ensure compliances to all the above.

• All the Logistics related supports including consolidation of shipment from multiple
buyers and seller Identifying channel partners who is willing to supply to fulfill
customer’s requirements

Industry Specific Solutions

Arctic Exports Private Limited experience in the Logistics industry comes into play both
in the multi-user facilities like customer specific with dedicated user sites. It is being
extended includes comprehensive value added services to the best suited for all customers
in all the industry and also for real-time retail distribution modules.

Arctic Exports Private Limited having the ability to source the new locations as well as
able to manage existing customer’s warehouse based on customer
requirements/commitments. Also, they offer to customers both dedicated as well as shared
warehouse locations.

• Pick & pack

• In-plant stores Management.

• In-Plant Logistics Management

• Kitting
• Line Feeding

• Order management

• Insurance.

• Receivable Management

• Meeting tax compliances

• Cash Management.

To facilitate the above, customers only can focus on their core-competencies and
production Management alone and leave us the entire inventory management to us. They
also have the expertise in in-plant management and can engage the activity of supplying
raw-materials to client production-line to deliver the finished goods to the end user, as
well. Arctic Exports owns / has access to warehouses and storage spaces to adapt to
emerging services. All trucks owned by us are maintained on a regular basis and undergo
periodic overhauls to ensure trouble-free operation at all times.
 Mission Statement:

• To Emerge as India's top Cargo Company that provides World Class Quality Service at
astonishing economical rate, that adds to the pride of India.

• To Our Customers; A prompt and efficient service with courtesy.

• To Our Workforce; promote a sense of participation and make them partners in

progress and also provide opportunities for personal growth.

• To the Community; A responsible corporate citizen

EXPORT AND IMPORT PROCEDURES A.STARTING AN EXPORT & IMPORT

FIRM
 a) Registration

Registrars of Companies (ROC) appointed under Section 609 of the Companies Act
covering the various States and Union Territories, are vested with the primary duty of
registering companies floated in the respective States and Union Territories and of
ensuring that such companies comply with statutory requirements under the Act. These
offices function as registries of records relating to the companies registered with them,
which are available for inspection by members of the public on payment of the prescribed
fee.

The Registrars of Companies in different States primarily deal with the Incorporation of
companies, change of name of companies, change of financial year, conversion of
companies from Private to Public and vice versa, striking off of the names of companies,
and default action against companies.

The steps to be followed for registering a private limited or a public limited company are
enlisted here.

Steps to be taken to get incorporated a private limited Company:

• Select, in order of preference, a few suitable names, not less than four, indicative of the
main objects of the company.

• Ensure that the name does not resemble the name of any other company already
registered and also does not violate the provisions of Emblems and Names (Prevention
of Improper Use) Act, 1950.

• Apply to the concerned ROC to ascertain the availability of a name in the General Rules
and Forms along with a fee of Rs.500/- If the proposed name is not available apply for a
fresh name on the same application.

• Arrange for the drafting of the Memorandum and Articles of Association by the
solicitors, the vetting of the same by the ROC and the printing of the same.
The logistics industry in India is evolving rapidly and it is the interplay of infrastructure,
technology and new types of service providers that will define whether the industry is able
to help its customers reduce their logistics costs and provide effective services (which are
also growing). Changing government policies on taxation and regulation of service
providers are going to play an important role in this process. Coordination across various
government agencies requires approval from multiple ministries and is a road block for
multi modal transport in India. At the firm level, the logistics focus is moving towards
reducing cycle times in order to add value to their customers. Consequently, better tools
and strategies are being sought by firms in order to enhance their decision making. In this
paper, we provide a perspective on these issues, outline some of the key challenges with
the help of secondary information, and describe some interesting initiatives that some
firms & industries are taking to compete through excellence in managing their logistics.

Some Peculiarities of the Indian Supply Chains

The Indian logistics sector has typically been driven by the objective of reducing
transportation costs that were (and often continue to be) inordinately high due to regional
concentration of manufacturing and geographically diversified distribution activities as
well as inefficiencies in infrastructure and accompanying technology. Freight movement
has slowly been shifting from rail to road with implications on quality of transfer,
timeliness of delivery and consequently costs except for commodities which over long
distances, predominantly, move through the extensive rail network. More on the
infrastructure issues later.

The transportation industry is fragmented and largely un-organized – a large number of

independent players with regional or national permits that carry freight, often with small
fleet size of one or two single-axle trucks. This segment carries a large percent of the
national load and almost all of the regional load. This fragmented segment comprises
owners and employees with inadequate skills, perspectives or abilities to organize or
manage their operations effectively. Low cost has been traditionally achieved by
employing low level of technology, low wages (due to lower education levels), poor
maintenance of equipment, overloading of the truck beyond capacity, and price
competition amongst a large number of service providers in the industry. Often, one finds
transportation cartels that regulate supply of trucks and transport costs. However, the long
run average cost of transport operations across the entire supply chain may not turn out to
be low.

Multi-modal transport in India was a monopoly of the Container Corporation of India till
2005. With licenses being given to 13 new private players, rail trade should improve
considerably. In order to encourage trade by small scale industries, Indian Railways has
started a “road-railer”system where container vehicles are capable of running both on
highways hauled by trucks and on rail (Guha and Sinha, 2006). In 1998-99, the Konkan
Railway (one of the railway zones in South-Western India) pioneered the 'roll-on, roll-off'
('RO-RO') concept between Mumbai (Kolad) and Goa (Verna). Privately owned trucks are
loaded with their goods which are driven on to a rake of flat cars and are carried (trucks
and their cargo) to the destination.
In 2005-06, the ports handled 456.20 million tonnes of cargo traffic. This is expected to
increase to 700 million tonnes by 2011-12. In keeping pace with the growing demand, the
government plans to increase port capacities to around 1 billion tonnes per annum in the
next six years (Raja, 2006). Under the National Maritime Development Programme
(NMDP), the government is encouraging public-private partnership to build and maintain
ports. This scheme will cover 276 port related projects at an investment of $12.40 bn (Raja,
2006). With rising congestion levels at major ports and with high average turnaround time,
the government has decided to develop minor ports in seven states to ease the traffic of
major ports (Financial Express, 20006b). Tables 3 the operational performance of various
ports in India – while there is an improvement in performance, the pace is slow.

The estimated cost of this development is expected to be around $350 mn. Further, private
sector is likely to invest $ 7.67 billion over the next six years. The entry of large third party
logistics (3PL) carriers like Federal Express and DHL and the expansion of domestic
networks of Indian firms like Gati and Shreyas Shipping is also transforming the nature of
services and the business practices across the sector. Table 4 gives an idea of the
investment plans announced by the various firms for the coming financial year and gives
a sense of their increasing activity. Another trend driving growth in this sector has been
the consolidation amongst the logistics player. Mergers & Acquisitions amongst Indian
and MNC logistics firms is starting to increase the reach of MNC 3PLs in the domestic
market while consolidating the business (e.g., DHL acquired Blue Dart, TNT acquired
Sppedage Express Cargo Service, Fedex bought over Pafex etc.). Consolidation is
expected to be beneficial to both the service providers as well as the consumers. Initially
MNC 3PL firms were providing only custom clearance and freight forwarding facility to
their international clients. With the logistics market growing we should see a shift in this
trend.

Government policies have been another driver of change in the logistics industry. The
trend towards a higher road cargo traffic as compared to rail is going to require better
logistics control and coordination. The golden quadrilateral road project and the east &
west rail corridors are expected to change the reactiveness of Indian firms through shorter
lead times as well as lower maintenance costs on the transport equipment. They also have
 the potential of reducing the procedural delays on highways by reducing the number of
checks and related stoppages of vehicles. Its impact on perishable good will be most
significant. Thirteen States and three UTs have already amended the State laws allowing
private sector participation in direct purchases of farm produce from farmers (Ahya, 2006)
which is making procurement more efficient and is bringing better technology as well as
products in the rural production and distribution network (e.g., see ITC echoupal in the
next section). Banks have developed venture capital funds for logistics players. Small
Industries Development Bank of India or SIDBI, for instance, has invested $ 2.3 mn in the
Mumbai based firm Direct Logistics .

NEED AND IMPORTANCE OF STUDY

A study about the field of logistics is required to understand the terms of trade and their
operations which aides in pursuing a career in logistics as well as providing improvisations
and logical inputs to reduce the cost of freight for the clients and forwarder and increase
revenues/profits for the company.

The importance of the study stems from the fact that the expanding economy and global
business opportunities have caused companies to export and import products to develop
their business and the companies are looking out for effective use of transportation
equipment and modes to reduce shipping and logistics costs.

OBJECTIVES OF THE STUDY

 To know about Logistics Industries

 To compare the effectiveness of logistics management at Arctic Exports and to

benchmark the organization with respect to the industry.

 To have a thorough understanding of how logistics and freight industries work.

 To know whether the customers are satisfied with the existing range of service pattern.

SCOPE OF THE STUDY

 Focuses on global freight forwarding.

 Focuses on the operations of a freight forwarded.

 The scope of the study is limited to Indian import/export.

Limitations

1. Time period is one of the limitations because we have not got enough time to study
this project.

2. Sample size is only 50 which does not cover the universe.

3. The data available is not accurate because nobody has filled it sincerely.

4. As the data available is not accurate we can’t be reliable on the data we have received.

5. As the sample size is only 50 the data available is not universally acceptable.

The SVOR alternative

In project management, the alternative to SWOT known by the acronym SVOR

(Strengths, Vulnerabilities, Opportunities, and Risks) compares the project elements
along two axes: internal and external, and positive and negative. It takes into account the
 mathematical link that exists between these various elements, considering also the role
of infrastructures. The SVOR table provides an intricate understanding of the elements
at play in a given project
STATEMENT AND OBJECTIVES

LEARNING OBJECTIVES

The intern had the following key expectations to be met from the internship in terms of
the knowledge that would be assimilated:

i. To understand the history, vision, mission, policy and philosophies of Arctic Exports .

ii. To get an insight into the business of the company and understand the different kinds of
products and their specialties.

iii. To observe the organizational structure and culture inherent in the company.

iv. To know how the company sets its organizational targets and thus, percolate it to their
employees via departmental and individual objectives.

v. To learn about the recruitment, selection and induction processed adopted by the
company in order to attract raw talent into the organization.

vi. To understand the concept of talent management through practical experience and be
able to know the talent management system instituted by Arctic Exports .
 ROLE IN THE ORGANIZATION DURING THE INTERNSHIP

CORE INTERVIEW:

My first interaction at Arctic Exports was with the corporate manager of the Mumbai
branch Mrs. Samantha . I had come across this company on an internship app known as
Frapp. The brief about the company was very different from the other companies’
briefings that I had read and I decided to go for this interview. I applied for the post of a
marketing intern. After receiving the confirmation call for the interview, I was given a
week’s time to research and prepare myself for the interview. I looked up on the internet
for company reviews by customers and the employees already working there in order to
get a better idea of what I was going to work for. Since the firm is a very year old company,
I did not find much to gather information from except their website. I started asking around
but my friends did not know anything about it. As I began to lose interest, my cousin who
has been working in the corporates for a decade told me that corporate transportation is a
new industry and is especially designed to cater to the corporate sector. Not only did she
know about Arctic Exports, she was also a customer and gave me a positive review of the
same. This is what motivated me to go for the interview and seize the opportunity to work
at a start-up that is bound to grow in the coming years.

The interview was of two rounds where the first round was normal wherein I had to
describe myself and talk about my CV in a creative way. I also talked about the work that
I had previously done in my internships that gave me edge over the other candidates who
were there with me because for them it was their first working experience. The
interviewers were satisfied with my presentation and confidence and I got qualified for the
second round. The second round turned more challenging for me as we were going to be
judged based on several parameters - how we react to working under pressure, my
knowledge about the industry, communication skills, innovation and most importantly
self-confidence. They gave us a situation wherein we had to convince a potential customer
to sign up for our services. I came up with a strong pitch which emphasised and highlighted
the points that the company used as it’s USP to sell it’s product to the client. I was also
able to come up with a script for a cold call to prospective clients that would widen the
reach of the company. This cold calling script helped me showcase my communication
skills. This round was meant to give us a clear gist of what the work would be like and
that part of my interview was the best. Although I was given only 5 minutes to prepare for
the scenario, I did not succumb to the pressure and was able to perform well. So to
conclude, the last round was totally to check if I was fit enough to become a representative
of the company in front of the clients.

After getting out of the room, I was relieved that the interview that I had been preparing
for, for the last one week went well and I had performed according to my expectations.
After meeting my seniors and other colleagues I was looking forward to working with
them and within a few hours, I got a call stating that I was selected and was asked to join
from the coming week. Before that, I had to undergo training for two days to prepare for
the field work so that I could be at my professional best from day one.

JOB DESCRIPTION:

Initially my work as a finance intern started as a desk job where I had to use my Microsoft
excel skills to work on the spread sheets and follow up on my leads. My seniors had given
an entire two weeks’ plan of what I had to do in that time based on business to consumer
model (B2C) where I had to map out all the corporate hubs of Mumbai. There were 400
in total but I was assigned 130 to work at while the rest were allotted to other interns. I
had to list all the names of the companies which were in my jurisdiction on the spread-
sheet, add other columns such as number, address, email, contact, names of HR managers,
etc. I took a weeks’ time to finish the spread sheet and then received the cold calling script
from which I had to memorize the necessary things.

LEARNING FROM THE INTERNSHIP

Finance is a word which puzzles several students. While some seem to do it effortlessly,
there are several who struggle like me to get it right. So what is finance and why does it
leave so many of us puzzled, frustrated and amazed at the same time?

A common misconception is that it is for the glib talker, the one who can talk his way
through anything and coax people into buying things they do not need. Several of us could
never get the answers right in marketing class, because what is correct for one company
might not be true for another. In that way it is unlike science where the same rules apply
to all, gravity does not discriminate but finance does.

For example consider this: How would you segment your consumer? Would it be
psychographic, demographic etc., and how would you know which one is the right
segment? What if you are alienating a major chunk of your consumers by segmentation?
All these and several other questions were in my head before I took a finance internship.

The first thing I understood while working was identifying the Business need or in finance
terms, what is the Value you are creating for your consumer through your product.

The first question that came to my mind after getting an interview call from Arctic Exports
was that what exactly the fashion scene like in metro cities is. As a college student, it was
a relatively new concept where I was unaware about everything that goes around the field
I was going to work in. Another surprising revelation for me was that corporates are
arranging/providing there employees with transportation facilities which makes it easy for
them to commute. They are also taking advantage of the fact that a convenient journey to
the work place increases their productivity and efficiency in order to perform better.

At first it seems like way too much information and that there is no possible way that you
will remember everything that’s being thrown at you. I was completely overwhelmed by
the first week of my internship because it became apparent to me that I had learned only
a fraction of what I was being trained in while in college. I assured myself everything was
going to be fine and reminded myself internships are made for learning. I had to trust the
process!
The first lesson I learned was that no one expects you to already know everything about
your marketing internship. When you realize there is no possible way you already know
everything that is expected of your position, the easier your marketing internship becomes.
Learning the ins and outs of your internship is crucial for your success. It seems like a lot
of instructions, but there are ways to learn it all if you’re willing to put in the effort.

Also, being in a fresh working environment became a lesson for me because it was the
first time after my interview I had walked in the office to work. my perception of what
corporate transportation marketing was changed completely since when I started my
marketing internship. Not only that, but there was actually a team I would get to work with
instead of working solo because it was sales internship also. It was great knowing I could
turn to anyone and ask a question, but also intimidating. Unless you’re part of a new
business, everyone in your workplace will already have relationships and connections that
have been formed over the years.

I am usually social and often times talk more than I should. But for the first time, talking
and fitting in was hard for me. My co-workers already had built a culture and had
personalities and knew how to flow with each other. Being an intern kind of makes you
feel out of place and under qualified to be where you are. Stop yourself if you catch
yourself thinking you aren’t good enough to be in the position you're in because you don’t
know as much as your co-workers. They work there; you don’t. They have been there for
way longer than you and have careers based on their talents and experience.

An on-going struggle for me was finding balance between college and my marketing and
sales internship. Knowing when to switch gears from internship to college work was where
I had trouble. Many people have troubles with work-life balance and you too will run into
the difficulty of separating work from play. I wanted to always be doing my internship
and the temptation was constantly there when you’re a sales intern.

You need to draw the line between your internship and your free time. Though it may be
tempting to check your work email every hour or make a quick post on an idea you just
created, you can’t always be working. Enjoy your free time! Don’t just work on projects
outside of your internship. See your friends, focus on your studies, and turn off the part of
your brain that keeps coming up with ideas for your internship when you aren’t at work.

It wasn’t as hard for me to switch off from college to my internship. Personally, I found
my internship far more interesting than my college textbooks. However, you can’t start
slacking in college once you have an internship. You still have projects and presentations
will not pause where it’s at so you can focus on your internship. Don’t procrastinate in
your classes or other priorities by doing too much extra work for your side gig. Write down
your ideas as they come to you and then work on them if you can make time while you’re
actually at your internship. Dividing up your free time from your internship work will
make you less stressed and allow you to focus on your current task.

Whatever you choose to do with your time in your internship, it is essential to take away
some lesson from your experience. There is always something to be learned every day
from your internship. You don’t have to learn something elaborate every day, just keep an
eye out for the little things you can learn and use in the future. Remember any new tactics,
skills, ways of communicating, and ways of thinking that you find on the road through
your internship.

So, after completing a tenure of 1 and a half months I had polished on a lot of my skills
and main things were communication and self-confidence and now I can list down a couple
of good lessons or learning which i gained from my company.

1. Never Stop Learning and Change Will Become Your Comfort Zone

It is pretty safe to say that for the better part of my life I’ve been trapped in my comfort
zone. After the third year of college has passed, I realized that no matter how
knowledgeable college has made me, it still pales compared to an actual work experience.
So, when I found out that Bamboo Lab is looking for a marketing intern, I decided to go
for an interview. Even though I felt nervous, I knew that this was the first step towards
breaking out of my comfort zone.
2. Find What Suits You Best

Which business area will enable me to utilize myself to the fullest? What should I devote
my time and energy to? Sheer magnitude of fields concerning Corporate transportation
can be quite overwhelming, especially for the beginners and finding which one works the
best for you is not a just a mere decision, it's a process. Never regret spending time
bettering you.

3. Don’t be Scared of New Tasks

In this ever-changing field new tasks are something unavoidable. Instead of dreading about
it, seize the most that it can offer to you. Even if you feel inadequate at that moment, keep
in mind that every single person was at one point in the same place where you are. I
overcame this problem by taking following steps. First, break down the main task into
smaller subtasks. Then, if you are stuck during the solving process, look for help or ask
your mentor for advice but keep in mind that it’s crucial to do it yourself. You will realize
that it wasn’t that hard and feedback will help you to get better next time. Trust me, with
time and effort you will look back at that situation with joy.

4. Never Assume

The best tip that I’ve learned while working with people is to never assume.
Communication is prone to misinterpretation that is why it’s always better to send detailed
email or have feedback from the other side. At Arctic Exports we were told strictly to
listen to the demands of the clients and then give necessary details when I used to do cold
callings because to communicate until both sides get a clear understanding. It’s always
good to double check especially when working with clients. After talking over the phone
or in person, send the follow up email with brief overview of your conversation. The result
of that is a clear grasp of the situation concerning the goal which leads to better work
efficiency.
5. Ask Questions
Asking is a natural part of the learning process. There is no learning without asking
questions and making mistakes. My seniors were very helpful during my tenure, I had the
freedom to call them freely anytime regarding my field works in the corporate areas By
asking questions I made a progress because I was thinking about the problem on the deeper
level and it just shows I am curious about the topic and that the topic is of interest to me.
By requiring input, I also showed genuine interest and will to learn more.so it saved lots
of energy and can even prove to be bonding agent between people.

6. Networking
Whether you are extrovert or introvert, like I am, one should meet and create contacts with
people within your industry. By generating contacts, meeting new people and attending
events, both the company and as an individual gain awareness among experts in areas
concerning digital marketing. You can acquire first-hand insight into their work, or to be
more specific their grasp of certain problems, as well as an access to certain seminars and
educations. This way anyone can generate ideas, get a better understanding of the industry
and working for and learn from the best

7. Self-awareness

It’s crucial to know who you are. What means being self-aware? It means both strong and
weak sides. What may work for me does not necessarily mean it will work for someone
else. After becoming aware and accepting skill set, it’s time to master it. Talk to the
mentor; tell them in which areas of your strength can contribute to the most. They will
provide you with guidance by giving you more tasks that improve your skills. If a good
communicator, naturally you will get more tasks that will orient towards mastering that
skillset.

8. Priorities
Evaluate what currently takes precedence by thinking about goals and what can makes us
happy and content in the long run. Writing down all aspects of your life and analysing
them individually has helped me to get a grasp on which activities I have to put both my
energy and focus on. Of course, won’t have as much free time as i had compared to before,
but priorities are set straight then the zone for regrets shrink respectively.

Apart from these basic learning which helped me the most there are various important
reasons why college has helped me to have prior knowledge about a lot of important
concepts which I had been learning theoretically in my past years of graduation. Some of
these concepts I had directly applied to my internship so that I can get a prior grip over the
things I will be doing.so first thing was to present a resume which can be accepted by the
company and through which I can present my strengths before my interview .

My Experience:

My company “Arctic Exports” was a horizontal management style, where all employees
were treated equally. The young employees of the company were at the core, and their
energy, enthusiasm and interest in their work bled into the company itself.

The division of labour was equal between everyone from the head to the intern. Talks
about everything from projects to all the deals, helping in building a bond between
everybody. The small size of group helps in better interaction, making the flow of
information faster and easier, the communication channels ranging from WhatsApp to
emails to calls. It also helped build friendship apart from the usual colleague relationships
such a healthy, happy, and joyful environment was a boon to work in, making the
experience much more fruitful and something I’d like to repeat.

There was a definite newness to everyday, the work culture affecting the overall working
of the company, hence the people worked with a positive attitude and were valued for their
contribution. All the interns were noticed and their work appreciated, which in turn
increased the productivity as working was not a forced task anymore, but actually a fun
 one. The informal culture also allowed for a certain amount of flexibility, which was very
helpful at certain times, I was not able to make it to office due to unavoidable reasons.

All those factors adding up made me understand that I liked this working environment
better than any other.

Why Arctic Exports?

 Dynamic Team:

Our team comprises of young professionals and experienced individuals from diverse
fields- digital marketing, event planning, expert in art and drama.

 Interesting Events:

Arctic Exports as a company, organises art events which includes dance performances and
exhibition of different type of talents which makes it interesting .

 It keeps you on your toe:

In Arctic Exports I got a chance to engage all my skills, like social skills because work
demand to interact with clients, sponsors, guests and venues.

 Polish Professional skills:

In Arctic Exports, I got to learn how to talk to sponsors and make a pitch and close a deal
which will help me in future with my job.
 Build a Professional Network:

By interning at Arctic Exports I wanted to build a network of people and have contacts in
corporate world. My work profile helped me building a professional network.

 Work Culture:

As Arctic Exports, its work culture differ from other firms. It has a friendly work
surrounding and everyone is so approachable, which is so motivating and you can share all
your ideas without fear of rejection.

Reason for Interning:

 To gain experience:

The best experience comes from internships because I got to do a bit of everything. I
experience the different roles that people play and see working life from different
perspectives. This will help me get a good job and will give me a good learning experience
too.

 Build confidence.

Whether it be public speaking, giving presentations or simply suggesting new ideas, it build
my confidence which allows me to grow as both a worker and a person. Confidence is a
key to success. It helped me to build confidence through practice which had also helped
me in my personal growth. After all, practice makes perfect.
 Have the opportunity to learn and watch:

My internship would provide me with number of opportunities, opportunities for like

everything, for better future also.

 To have a better understanding:

My internship allowed me to take time to understand my role, tasks and the industry. I
learned a lot of professional things and aspects which is only possible while doing an
internship.

 A step closer in getting a job:

It is difficult to get a job directly after my graduation. Internship will give me a huge
advantage over others for getting a good job.

 Prepare for Job Interview:

This internship would provide me with optimum information and experience needed for
any job interview. It would help me in future and also help me improve my decision
making.

 To get a practical view:

All the concepts you study in classroom, it can be difficult to see how all those learning
will impact you in working world. By doing this internship, I can understand all those
concepts more properly when they relate to real people and situation.

 Receive financial compensation:

 By this financial compensation the firm can raise their employee’s efficiency. It motivates
employee to work in a better way and helps to keeps his interest.

 Flexible work hours:

It was very difficult for me to manage my college and work together. Due to flexible
working hours, I could skip my work hours in case of unavoidable circumstances.

 Enhancing my portfolio:

This internship will help me not only in getting practical knowledge but also in enhancing
my portfolio which will help me in getting a better job in future.

BUSINESS RESEARCH METHODS:

Research methodology is the process used to collect information and data for the purpose
of making business decision. The methodology may include publication research,
interview, surveys, and other research techniques, and could include both present and
historical information.

THERE ARE TWO TYPES OF RESEARCH NAMELY-

• PRIMARY RESEARCH

• SECONDARY RESEARCH

1. PRIMARY RESEARCH-

Primary research consist of collection of original primary data collected by

the researchers has gained some insight into the issue reviewing secondary research or
analysing previously collected primary data . It can be accomplished through various
methods, including questionnaires and telephone interviews in market research or
experiments and direct observation.

2. SECONDARY RESEARCH-

Secondary research involves the summary, collection or synthesis of existing

research rather than primary research, where the data is collected from.

• Newspaper

• Journals

• Periodicals

• Internet

• Magazines

• Books

(2) Surveys:

The Survey method is the technique of gathering data by asking questions to people who
are thought to have desired information. A formal list of questionnaire is prepared.
Generally a non-disguised approach is used. The respondents are asked questions on their
demographic interest opinion.
 Advantages:

▪ As compared to other methods (direct observation, experimentation) survey yield a

broader range of information. Surveys are effective to produce information on socio-
economic characteristics, attitudes, opinions, motives etc and to gather information for
planning product features, advertising media, sales promotion, channels of distribution
and other marketing variables.

▪ Questioning is usually faster and cheaper that Observation.

▪ Questions are simple to administer.

▪ Data is reliable

▪ The variability of results is reduced.

▪ It is relatively simple to analyse, quote and interrelate the data obtained by survey
method

Disadvantages:

▪ Unwillingness of respondents to provide information- This requires salesmanship on

the part of the interviewer. The interviewer may assure that the information will be kept
secret or apply the technique of offering some presents.

▪ Inability of the respondents to provide information- This may be due to

1. Lack of knowledge

2. Lapse of memory

3. Inability to identify their motives and provide “reasons why?” for their
actions

▪ Human Biases of the respondents are there, for eg: “Ego”

▪ Symantec difficulties are there - it is difficult, if not impossible, to state a given question
in such a way that it will mean exactly same thing to each respondent. Similarly two
different wordings of the same question will frequently produce quite different results.
(3) Focus groups:

A focus group is a common qualitative research technique used by companies for

marketing purposes. A focus group typically consists of a small number of participants,
usually around six to 12, from within a company's target market. The consumers are
brought together and led through discussions of important company and brand topics by a
moderator.

Advantages:

□ They are useful to obtain detailed information about personal and group feelings,
perceptions and opinions

□ They can save time and money compared to individual interviews

□ They can provide a broader range of information

□ They offer the opportunity to seek clarification

Disadvantages:

□ There can be disagreements and irrelevant discussion which distract from the main
focus

□ They can be hard to control and manage

□ They can to tricky to analyse .

□ They can be difficult to encourage a range of people to participate

□ Some participants may find a focus group situation intimidating or off-putting;

participants may feel under pressure to agree with the dominant view.

CHALLENGES

Understanding the office culture

It sure takes time to understand the office culture. Since every organizational culture varies
from office to office. Some have a rigid structure while the others are flexible. Though
organizations are moving more towards flexibility nowadays, some offices do have some
strict policies. Then again, there are some internal differences too.

For example, the marketing department may be more of social, fun-loving than the finance
department. The vice-versa may happen too. I was a part of the office environment and
mostly I was on the field but when we all used to meet on weekends it was initially very
difficult to be flexible with everyone.

Understanding teamwork

Teamwork in professional sector is a lot different than projects at varsity.

Miscommunication, misinterpretation of the actual objectives, different opinions of team
members are common and varies than that of the project group work done.

Also, mishaps in internal communication also affect one’s work. One feels unsure of how
to resolve issues in many cases. Sometimes we used to work in teams while targeting bigger
groups of people so that promoters can do well so my teammates would function differently
and I had to cope up with everything.

No one listens to you

When one is on the field on their first day of sales internship and nobody is paying attention,
then it gets disheartening which becomes a major challenge in sales. I tried to communicate
with my seniors and they helped me by changing my pitch and by teaching some techniques
through which I can keep the attention of person. So the solution to this is always be clear
with one’s seniors or mentors.

Staying Motivated

This is the biggest challenge for a sales rep. With the pressure that keeps on rising every
day, it becomes a task in hand for the sales interns to stay motivated and keep the spirits
sky high. As technology is disrupting the playing field when it comes to access to
information, networks, and data - sales intern are finding it harder to keep up with the rising
management pressure. It is important for both, the employee and the employer to have
long-term plans.

Hence, it is a given that the organization should keep the interns happy and motivated by
tweaking their work in such a way that they are always ready to accept new responsibilities.

Your internship stipend isn’t enough

This particular scenario doesn’t apply to everyone. Most internship these days are unpaid.
Some interns are lucky enough to get compensation but it’s mostly because the workload
is heavier than the usual internship or maybe the work entails a lot of expenses

The internship stipend is usually very meagre and does not cover all expenses of the student
like conveyance, food, etc.

You get left out of meetings or work discussions

Being an intern, one is kind of part of the company, but not really. One works on things
alongside other employees but there are simply some things that you won’t be a part of,
such as meetings. Oftentimes, confidential matters are discussed at these meetings and one
just doesn’t have the clearance to know these things. Aside from this, meetings are
nebulous by nature and adding more people can further complicate them and drag them out
longer.

How were the challenges overcome

Introduction

Challenges causes stress and tension, however these challenges are the one that teach you
new things and expose you to the new aspects that had remained unknown to you. To
explore and test one’s potential, skills and abilities it is very important to put the person
through a number of challenges of different kinds. By facing these challenges one just
tends to improve and become better in whatever aspect they are dealing in.
 Facing these challenges taught me an important skill in life i.e., to take any problem by its
horns and stay dedicated and unmoving till you are able to overcome it. Obviously, there
are times when you have to learn to accept defeat. Luckily for me, the challenges I faced
here only propelled me towards solving them.

Solutions

✓ Firstly, they at the company faced the problem of having more employees than required.
Their company came up with this ingenious idea of dividing our customer base into various
packages for buyers, sellers and franchise sellers. This helped us sort their customers based
on priority. This also enabled us to diversify their resources so as to better attend their
clients.

✓ Secondly, he faced the challenge of time management. He had to keep up with both my
work and college. He was determined to gain as much as possible and had previously
decided that he will gain as much as possible even if it meant losing out on a few things.
He tried to maintain everything as normally as possible. In the end, to maintain both work
and college he had to sacrifice his social life, family time and sometimes even sleep. It was
very difficult but he had only a few months to learn about the practicality of the world.
Observations about departments

✓ The atmosphere of the firm was very informal and friendly.There were no communication
barriers.

✓ The finance team included all the dedicated professional employees and they took help of
all the sources to collect adequate and correct information about the clients and prospects.

✓ Marketing team was always up to date with its posts. They were very particular about their
reviews and replied to every comment. They were present online every time and chatted
with every person who visited their page.
✓ The sales team were always well equipped and informed about their clients. They worked
on the projects with a lot of dedication and put everything to make that deal happen.

CONCLUSION

Thus, the internship proved to be a very enlightening experience. Through this many
practical aspects of documentation and export procedures could be understood. The study
explores the importance of the documents used for exports and imports based on the
procedures of Government of India. The Arctic Exports Private Limited deals with the
documents like Bill of Lading, Proforma Invoice, Consular Invoice, Insurance Certificate,
Inspection Certificate, Bill of Entry etc., Arctic Exports Private Limited is a well known
multimodal logistics company in India , it has 8 branches all over India. The company is
engaged in processing clearance, forwarding for export and exports.
The internship programme was a great learning experience since it helped me to
understand various procedures involved in the export and import of goods, various
documents required to carry out exports and import financing modes. I was able to gain
knowledge about the format to be followed in the documentation of export and import
documents.

Arctic Exports Private Limited from Pondicherry office does clearance and forwarding of
imports and exports for all leading companies having global operations. it exports to
countries like china, hong kong, myanmar, singapore, vietnam, canada, sri lanka,
malaysia, yangon and etc.

SUGGESTIONS

i) Organization can further strenghten the employee strength in the documentation

and HR department. This can lead to further rapidity for operations.

ii) Organization can initiate Human Resource Department to further enhance employee
motivation. This will have favourable impact for the operational as well as total
strenghtening of organization

iii) Decision making is quite effective and can be followed for future operations

Operations with other logistical providers need to be enhanced further for operational
effectiveness, more focus should be given to customer delight and cost effectiveness.

v) Quality of service can be further enhanced to increase customer delight.

 vi) Client handling and service need to be followed in the same way and can be further
enhanced with more support. This can be achieved by proper guiding of employees and
other workers in the logistical area

vii) CH Robinson can enter other markets in the Middle East especially to Saudi Arabia
where the potential of market is very high for Logistics industries and can even diversify
to other areas in logistics.

FINDINGS

• The documentation paper works are simplified than the previous years and this has led to
the emergence of a business environment, widening both the scope and scale of
opportunities open to sellers.

• Though many documents prevail in documentation, only certain documents play a vital
part in the company

• Central Government is empowered the to make provisions for development and regulation
of foreign trade by facilitating imports into, and augmenting exports from India and for all
matters connected therewith or incidental thereto.
• The Central Government can prohibit, restrict and regulate exports and imports, in all or
specified cases as well as subject them to exemptions.

• The Director General or any other officer so authorized can suspend or cancel a license
issued for export or import of goods in accordance but he does it after giving the license
holder a reasonable opportunity of being heard.

• Government of India formulates and announces an Export and Import policy (EXIM
policy) and amends it from time to time. EXIM policy refers to the policy measures adopted
by a country with reference to its exports and imports.

• Custom duty has to paid for certain goods which have demand in India and the duty rate
various depending upon the current demand of the good.
 BIBLOGRAPHY

Reference:

a) Logistical Management – Tata McGraw 2000 Edition.

Written by Donald. Bowersox, and David. Closs.

th
b) The Management of Business Logistics – 7 Edition:
Written by Edward J. Bardi, C.John Langley, and John Joseph Coyle

c) Logistics and Supply Chain Management: Creating Value - Adding Networks Written
by Martin Christopher.

WEBSITE

• www.commerce.nic.in

• www.sezindia.nic.in

• www.investindia.gov.in

• www.indiainbusiness.nic.in
• Handbook of International Trade - E Kwan Choi , James Harrigan

• Import Do It Yourself - M I Mahajan