A Report on
Assessment of demand forecasting methods
And
Domestic sales management
In partial fulfillment of the requirements for
Master in Management Studies (MMS)
2009-2011
Submitted by
Roll no: - C 29
Submitted to
Dr. [Link] Institute of Management Studies, Thane
(Affiliated to Mumbai University)
Statement by the candidate
I wish to state that the work embodied in this Project titled “Assessment of demand forecasting
methods and Domestic sales management” forms my own contribution to Management.
Wherever references have been made to intellectual properties of any individual / Institution /
Government / Private / Public Bodies / Universities, research paper, text books, reference books,
research monographs, archives of newspapers, corporates, individuals, business / Government
and any other source of intellectual properties viz., speeches, quotations, conference proceedings,
extracts from the website, working paper, seminal work et al, they have been clearly indicated,
duly acknowledged and included in the Bibliography.
(Signature of the candidate)
Acknowledgement
I take this opportunity to thank all those who have provided valuable guidance
in completion of the project. The two month Summer Internship at Piramal Healthcare Ltd.
where I learnt various aspects regarding Domestic sales management and demand forecasting
methods used by the company, it was really a value addition and thus, a very good experience.
Firstly, I am very much thankful towards Prof. Saroj Mishra, Dr. V.N.
Bedekar Institute of Management Studies for providing the right direction and valuable
suggestions for the completion of the project.
I am vey grateful towards Mr. Suresh Mohite, General Manager – HR
Administration & Safety for giving me a precious and challenging opportunity. I thank Project
Guide, Dr. Rupesh Rane, Marketing Manager, All India Animal Healthcare Division for giving
me a valuable information about the working of the Division. I am also thankful to Mrs. Zehra
Khumushi, Demand planning department for giving high co-operation and valuable guidance
from time to time.
Genesis of the Report
Bulk drug or API (active pharmaceutical ingredient) market in India is growing at an
alarming rate. Globally, pharma companies being faced with growing challenges in major
markets, demands from customers and growing pressures from competitors, are adopting a range
of strategies designed to reduce costs and maximize efficiency.
API market mainly deals with business to business marketing in which marketing strategies,
promotion strategies, sales management strategies used are different from those of marketing,
promoting or selling of a finished product.
There are growing production orders for the domestic pharma industry and companies are also
looking for increased international business. To take on these challenges of growing market
demands and competition, the company needs to constantly focus on sales management, demand
forecasting and demand planning.
The project emphasizes various techniques of domestic sales management and sales forecasting
used at the VFCD (vitamins and fine chemical division) of piramal healthcare ltd. Domestic sales
management includes comparative analysis of the customer wise sales of different products. This
information serves as Management Information System which may be guide the product
managers to develop an effective marketing strategy. At the same time, such comparative
information helps the top level management to evaluate the performance of the product
managers. The sales planning and API promotion techniques are also included in this report.
Project also contains the assessment of various sales forecasting techniques, which are applied on
the past sales data to find out the best technique which may be suitable for demand forecasting at
VFCD.
Contents
Overview of Bulk drug (API) Market in India…………………………………………….. (1)
Company Profile Piramal Healthcare Limited……………………………………………... (6)
Vitamins & Fine Chemicals Division……………………………………………………... (11)
Sales management…………………………………………………………………………. (15)
Nature and scope of the project……………………………………………………………. (17)
Research objective…………………………………………………………………………. (18)
Research Methodology…………………………………………………………………….. (19)
Sales promotion in API market……………………………………………………………. (20)
Research Part 1: comparative analysis…………………………………………………….. (24)
Research Part 2: Assessment of demand forecasting techniques………………………….. (28)
Analysis……………………………………………………………………………………. (43)
Conclusion and findings…………………………………………………………………… (44)
Bibliography……………………………………………………………………………….. (45)