ion Study on Freight Forwarders

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Report on the Organizational Study done at

AirLift(India) Pvt. Ltd.
Submitted in partial fulfillment of the requirement Of the award of the degree of

MASTER OF BUSINESS ADMINISTRATION
To the FISAT Business School

Submitted By, NAVEEN JOY

Under the guidance of Mr. Prashanth P. John

FISAT BUSINESS SCHOOL

(Affiliated to M.G. University)

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ACKNOWLEDGEMENT
I would like to acknowledge my profound sense of gratitude to the Almighty for giving me strength and ability to successfully complete the study and make this report on time.Mr. Prashanth P. John, my guide, FISAT BUSINESS SCHOOL, for his support and guidance which he rendered throughout the study was instrumental in shaping the study. I would like to place my humble thanks and sincere gratitude to Mr. VINAY KUMAR, Board of Directors, Airlift (India) PVT LTD for all the help he has done for this project.And I am very much obliged to our Dean and Director Dr. P.P. PILLAI, for providing the opportunity undertakes the study at Airlift (India) PVT LTD.Last but not least I wou ld like to thank all the official and employees of the company and to my parents, friends and my well wishers for their valuable suggestions and encouragement for completing my project.

Hormis Nagar 8-06-2010 NAVEEN JOY

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DECLARATION
I hereby declare that the Organization study Report entitled A Organization Study on Airlift(India) Pvt. Ltd. is a record of bona- fide work done by me in Airlift(India) PVT LTD, during one month under the supervision of Mr.R Renjith,Cargo Manager, Airlift(India) PVT LTD, and Mr. Prashanth P John, Lecturer, FISAT Business School, and that no part of this report has formed the basis for award of any degree, diploma, associateship, fellowship or any other similar title or recognition in any other institution.

Hormis Nagar 8-6-2010 Naveen Joy

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TABLE OF CONTENTS
1.Industrial profile
1.1 Introduction 1.2 Freight forwarding :modes of transport 1.2.1 Air cargo 1.2.2 Sea Freight 1.3 Historical Background 1.4 3pl and freight forwarders 1.5 factors favouring freight forwarders 1.6 Indian Perspective 1.7 Market Growth 1.8 Major Players 1.8.1 Global Players 1.8.2 Indian Players

10
10 11 11 16 17 18 20 21 22 26 26 29

2.Company Profile
2.1 Introduction 2.2 History and Milestones 2.3 At a Glance 2.4 Major Clients

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30 31 33 35

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3.Organisation Structure
3.1 Finance and Administration 3.2 Marketing Department 3.3 Operations Department

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38 42 49

4.Case Study
4.1 Analysis of the problem 4.2 SWOT Analysis

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54 56

5. Conclusion

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List of Tables:
Table A:INTERNATIONAL TRAFFIC CARRIED BY INDIAN CARRIERS __________ 13 Table B:DOMESTIC TRAFFIC BY INDIAN CARRIERS ______________________ 14 Table C:TOTAL TRAFFIC CARRIED BY INDIAN CARRIERS __________________ 15 Table D:3pl vs Freight forwarders vs custom brokers ____________________ 19 Table E:MAJOR PLAYERS ________________________________ __________ 26 Table F:major Players in India ________________________________ ______ 29 Table G:Organization at a Glance ________________________________ ___ 33 Table H:Major Carriers ________________________________ ___________ 34 Table I:Finance and Administration Structure _________________________ 38 Table J:Ratio Analysis ________________________________ ____________ 40

List of figures:
Figure 1:market growth ________________________________ __________ 24 Figure 2:market forecast ________________________________ __________ 25 Figure 3:Global Market Share ________________________________ ______ 27 Figure 4:Organizational Structure ________________________________ ___ 37 Figure 5:Finance and Administration Structure ________________________ 38 Figure 6:Marketing Structure ________________________________ ______ 42 Figure 7:Air Cargo Export ________________________________ _________ 45 Figure 8:Ocean Cargo Export ________________________________ ______ 46 Figure 9:Cargo import ________________________________ ____________ 47 Figure 10:Ocean Cargo Import ________________________________ _____ 48 Figure 11:Operation Structure ________________________________ _____ 49 Figure 12:Warehousing ________________________________ ___________ 52 Figure 13:common activities outsourced in India and USA _______________ 59

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RESEARCH METHODOLOGY: Objective of study

 To present an introductory profile of Airlift(India) Private Ltd.  To provide an industrial profile of the freight forwarding
industry- with reference to global and domestic market

 To study in depth the organisation structure of Airlift( India)
Private Ltd.

 To study the various functional areas in the company

Limitation of the study

 This study is limited to Airlift(India) Private Ltd.  This study is presented on the basis of information and
knowledge which could be gained during the course of organisational study at Airlift(India) Private Ltd,Cochin.

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Methodology
The methodology used in the organisation study are given as follows:
Primary Data:

This information is collected by interviewing those who are working for the Freight forwarding company
Secondary Data:

This data is collected from various sources such as  Internet  Books  Newspapers  Magazines and journals  Statement,audit reports and balance sheet of the compa ny

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Introduction :
Business Globalization stimulated the need of paying closer attention to the management of the chain providing logistics services innoded to reduce the cost price of goods and services. The companies realized that full attention should be paid for the competence of the company which include manufacturing, services etc rather than concentratating in additional functions such as transportation ,distributon of goods,storage etc.Here comes the need of using 3rd parties ,when specialized services are required to ensure the presentation of product of any services for the final customer. One such parties which provide outsourcing is Freight forwarding.A freight forwarding is an agent providing with services related to consignment on his own or clients name. The freight forwarder can be defined as a commission agent performing tasks such as transportation of goods,storage etc on behalf of the exporter or importer.But ,with the expansion of trade and emergence of new means of transport changed the role of freight forwarders.The services that freight forwarder renders may vary from customs clearance to services up to total transportation and distribution services. There may be wrong assumptions that freight forwarders are agents who earn money from the imperfection in the transport companies.This is nothing but due to the lack of knowledge of the role of freight forwarders in process of organizing transport services.The freight forwarders are nothing but transport architects who takes responsibility for the timely and quantitative delivery of the consignment. The freight forwarders solves not only the problems of loading but also coordinates the questions concerning overload consignments from one type of transport to another as well.Without the help of freight forwarders ,the owner of the company has to deal with a number of carriers which is quite a confusing process.The owner
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will find it difficult tomatch up the demands such as speed,economy,and safety.in such cases ,the stimulation of goods flow is disrupted and results in financial as well as other losses.Any disorder in the transport flow directly affects the common market.Thus,by opting for freight forwarders the costs are reduced drastically by chhosing the optimal transport route and by getting commercial discounts for transport and insurance rates . As a percentage of world gross domestic product, the value of intercontinental trade has almost t ripled from 5.2 percent in 1962 to slightly more than 15 percent in 2009, and is expected to rise1. This trend directly benefits freight forwarders as most manufacterers and suppliers rely on them for transportation of goods. This unique positioning has allowed forwarders to not only participate in the expansion of global freight flows but also to control the most complex and valuable activities of these flows.As the forwarders¶ influence in the market has increased, customers,

competitors,strategic buyers and financial investors seek to better understand how and why forwarders have been able to consistently generate superior profit and create value over a long period of time.

1

(ForwarderMomentum, march 2008)

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1. INDUSTRY PROFILE
1.1 Introduction
With trade liberalization,the face of global supply chain has changed considerably.Sourcing and manufacturing shifted from countries having high labour costs to low labour costs.As the result of this outsourcing ,the manufacturing and retailers have relied entirely on freight forwarders to be their network manager of their intercontinental supply chain.The customer base of a freight forwarder varies from small to big manufacturing and retailers. The services (ForwarderMomentum, march 2008) provided by the freight forwarders include the following:

 Transportation (intercontinental and destination delivery).  Customs brokerage.  Origin consolidation.  Destination deconsolidation.  Warehouse contract logistics services
The freight forwarders are both competitors and customers of asset based air and container sea freight carriers.They compete with asset based carriers for customer freight shipments and purchase capacity from the same carriers to manufacture origin/destination itineraries for their customers. Most of the modern big freight forwarding companies do not limit their activities only in broking operations and organizing goods transport. They are involved in the process of transport acquiring and maintaining transport equipment in both inland and international

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transport. At the same time, goods owner is offered not only the services of freight forwarding but also the sercvices of goods transport. In order to keep a customer, they are provided with services unusual for the notion of traditional freight forwarding.Regarding his own employees from transport branches, a freight forwarder sends them to customer¶s company. These µin-plant¶ freight forwarders become effective means for suppor ting freight forwarder¶s relations with goods consignors and thus reduce data cycle and improve management decisions. The largest freight forwarders may provide a customer with a packet of logistics and freight forwarding services including transport by different means.The global growing tendency of freight forwarding is to provide the customer all necessary services to supply chain management.

1.2 Freight Forwarding:Modes of transport
The mode of transport is very essential in freight forwarding or logistics business.The mode of transport is selected as per the context demands.The modes of transport will vary according to the needs.The freight forwarding company gives the best mode of transport meeting the need of the customer. The various

modes of transport used by the freight forwarding companies are:

 AIR CARGO  SEA FREIGHT  ROAD TRANSPORT  RAIL FREIGHT

1.2.1 AIR CARGO:

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Air freght or Air cargo constitutes the goods carried through Air transport. Air transport plays a major role in internationa l trade. More and more goods ,particularly goods of high value, time-sensitive commodities and perishables are being found suitable for movement by air. It has been

estimated that goods moving by air account for about more than 20 per cent of the world trade in terms of value. About 90 per cent of the world's air cargo traffic is handled by air cargo agents who act no t only on behalf of air shippers but also on behalf of the airlines of whom they are approved sales agents. Air Transport is one of the most effective tool to explore and serve world market. The most common items carried through air are mainly of high value .they include:

 Aircraft and auto parts  Computers  Electronic and optical equipment  Pharmaceuticals  Machine tools  Precision instruments
 Perishable foodstuffs Most of the existing airlines have scheduled and chartered carriers for transporting goods.Ground handling also plays an important role in air cargo.Most of the airports have facilities like coolers, chilled rooms, livestock rooms and security vaults to assist the handling of cargo.

Scope of air cargo in India: Inspite of recurring losses of about $1.5billion during the time of economic crisis ,Indian airline industry is showing great potential, thanks to the steps taken by the Indian aviation industry.Eventhough, Lack of
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infrastructure continues to be a roadblock for the industry, which is expected to touch Rs 13,300 crore by 2011-12, a growth of 20 per cent, by industry estimates2. Till recently,cargo

business was nit looked upon seriously as they comprises only 5-10 % of the airlines revenue. But now, airlines are targeting cargo and have realized that it has good scope. Airliners like Jet Airways have started floating a dedicated cargo service by collaborating with a logistics company .The domestic and international traffic of Indian cargo industry are as follo ws:

Table A:INTERNATIONAL TRAFFIC CARRIED BY INDIAN CARRIERS

Year

Scheduled (tonne)
100298 101351 97529 103729 97698 112157 112179 123694 142901 174092

Non-Scheduled Total (tonne) (tonne)
143 2 125 91 41 0 9 0 4 0 100441 101353 97645 103820 97739 112157 112188 123694 142905 174092

1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09
2

(Business Line, 2010)

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As per the given data ,the domestic cargo sccounts for most of the air traffic with a whoopping figure of 278603 tonnes as of lately.Whereas ,the traffic which accounts for international cargo is 17409 2 tonnes.As shown in these figures ,the potential of the Indian cargo industry is very vast and as per the data,the air cargo industry is showing an increasing trend and is expected to rise to gigantic levels.The total trafiic carried by air cargo both domestic and internationally accounts for 452695 tonnes . (Business Line, 2010).

Table B:DOMESTIC TRAFFIC BY INDIAN CARRIERS

Year

Scheduled (tonne)
158879 166668 160556 160556 197490 245151 256481 266421 302565 277608

NonScheduled (tonne)
196 118 289 289 145 402 293 418 360 995

Total (tonne)
198453 209166 210409 210409 255665 325858 259774 266839 302925 278603

1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09

Source: (Business Line, 2010)
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From these figures,the growth in the air cargo traffic is perfectly visible and as per the given figures the scheduled cargo accounts for almost the whole of them.The freight forwarding companies in India accounts for most of the scheduled cargo which is handled by the Indian air carriers.The scheduled 3 flights are the flights which operats regularly and are planned long time before.Wheras non-scheduled 4 flights refer to flights which operate irregularly and my be planned a short time before flying. And charter flight. Both scheduled flight and charter flight have restriction by a greement and the local law.
Table C:TOTAL TRAFFIC CARRIED BY INDIAN CARRIERS

Year

Scheduled (tonne)
250177 268019 258085 283314 295186 357308 368660 390115 445466 451700

Non-Scheduled Total (tonne) (tonne)
339 120 414 597 186 402 302 418 364 995 298894 310519 308063 338515 353404 438015 368962 390533 445830 452695

1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09

Source: (Business Line, 2010)

3 4

Operates as planned Chartered flights

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1.2.2 SEA FREIGHT:

Shipping constitutes the principal mode of international transport and is estimated to carry about 90 per cent of international trade in terms of volume. Sea freight is the most cost effective way to transport cargo raging from bulk exports to mails.Eventhough yhe goods take long time to reach their destinations,it is still the safest and reliable means of transportation.It is convineint for mostly for regular high bulk shipment . Freight forwarders arrange the cheapest and quickest means as they deal with many shipping companies and customers. The main items transportedthrough sea are:  Coal  Oil  Furniture  Heavy Machinery  Project Equipments The goods transported through sea are put into regular shipping containers, which can be handled anywhere and can be transferred directly from ships to trains for land transport. The regularization of the industry resulted in reliability and better Sea -freight. Today the shipping industry is well-organized and regulated, making it easy for companies to safely transport their goods overseas. Loss and damage costs resulting from sea cargo are very low relative to other modes of because damage is not much of a concern with low valued bulk products,and losses due to delays are not serious. the main concern of mishandling occurs only at the time of loading and unloading which is to be taken care of.
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1.3 Historical Background of freight for freight forwarders
The freight forwarding services began in the 17th century when active trade development started and markets started growing up.the expansion of operation didn¶t allow businessmen to carry out all operations and meet the requirements of necessary for process like loading ,discharging,and storage of goods on their own.These problems were overcomed by agents who did not had any agreement in buying and selling nor in the transport.They were called by different names in continental European countries varying from Authorized persons ,brokers ,agents etc.It was during this time the need of a representative was considered at the intersection of transport and trade.Such representative came to exist by the name µforwarding arent¶ in England. It was in the beginning of 19th century that USAoverload carriers in international cotton trade innovated and brought up the name µFreight forwarders¶.The freight forwarders appeared as an inseperable party in the contract of goods transport and used to take goods from sender,issued direct consignment ans participated in the practical realization of the contract for goods transport.In the ideal model,the freight forwarders should have the complete control of the delivery of the goods up to the destinstion .The carriers should be part of transport services for market freight forwarders .In many countries,carriers go beyond their limits of transport activities and provide services like goods storage,financial remittances,freight forwardin g etc.

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1.4 3rd Party Logistics and Freight Forwarders
The 3pl or 3rd party logistics and freight forwarders are more or less the same.Some suggest 3pl is just a fancy name for freight forwarding (Dechter).But there are difference between the two.Freight forwarders are more transport specific.They move the cargo from one place to another.Wheras logistics providers move,store and process inventory. The functions of a 3pl go beyond freight forwarding. Since freight forwarders are specialists in transportation,they focus on the cost and logistics of the transportation and thus providing more cost-effective transportation.Wheras,since 3pl are generilst as they provide services beyond forwarding, they need not necessarily be cost effective as freight forwarders.The 3pl even depend on freight forwarders for their forwarding needs.Head to head ,forwarders are going strong as they dominate the international trade by controlling 90% of the international trade (Dechter).Most of the direct carriers heavily depend on forwarders to sell their transportation,rather than directly marketing to the customers. The freight forwarders are the architect of transport.Since they are specialist in that particular area,freight forwarders carry the reputation of arranging the best and cheapest way of transporting goods.The 3pl or third party logistics eventhough do arrange such service ,they are more expensive and are not able to keep up with the freight forwarding campanies as they have a more generalistic5 approach in providing the logistics solutions and freight forwarding is only a part of it.

5

Includes freight forwarding

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Table D:3pl vs Freight forwarders vs custom brokers

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CUSTOMS BROKER

FREIGHT FORWARDERS

3PL

Arcitect of tra s o rt

Ge eralist

Books s ace o all tra s ort modes

Custom brokerage Service collaborates with multi le su ly chai layers

Custodia of Cargo

The figure above gives a clear idea of activities of freight forwarders and 3pl.3pl is more likely a one stop solution for logistics
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£ £

£

£

¢

£

requires IT to automate clerical fu ctio s

Iuses IT to ma age i formatio a d kee customer i formed about shi me t status

¢

£

£

£

Collaborates with customer a d Carrier

May de e d o forwarders for tra s ortatio

¢

¢ £

£

may have Warehousi g a d tra s ort asset

Provides a ra ge of value added logistics services

¢ £

£

¢ £ £ ¢

¢

Books s ace o all tra s ort modes

 

¢¢

£

¢ £

£

£

¡  

£

£

£

¢ £

£

¢

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and are expensive for the same reason. Due to the same Inspite of these differences ,the services of freight forwarders and 3pl are blending together.

1.5 Factors favouring freight forwarders
There are several structural factors in the forwarding industry that allow forwarders to generate superior financial returns compared to air and container carriers. These include :

 Control of the end-user customer.  Ability to provide better supply chain information to customers.  Flexibility of services across means and different carriers  Ability to attract and retain high quality people.  Better understanding of costs due to less complexity.
However, contrary to the above factors, there is also a level of commitments which forwarders maintain including:  Information systems.  Facilities.  Minimum commitments with air and container carriers

Forwarders are able to take control of the endcustomer relationship as asset operating air and container carriers increasingly rely on forwarders¶ wholesaling capacity instead of direct marketing to end customers, especially medium and small sized accounts. These carriers are adding capacity to fulfill long term market share objectives and are not constrained by the quarterly earnings expectations of shareholders. Te freight forwarders are also able to give the customers with better data which will help the latter to calculate the transportation cost which in turn is necessary for optimizing their suplly chain requirements .
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Forwarders can be more flexible with customers and are able to customize their services to specific requirements because they need not have to fill planes or ships each day .Wheras, Carriers are focused on maximizing the load factor and yield of each flight or vessel departure and they have an incentive to encourage customers to choose routings that is profitable for them and best for the carriers interest ,rather than the looking the customers interest.Due to same reason the flexibility factor is less in the case of carriers. Freight Forwarders also have competitive advantage in human resources. They are able to attract and retain high quality people because of their ability to promote faster and pay well due to higher growth and profitability. Many forwarders reward employ ees based on area level profitability.This attracts more quality people to freight forwarding .Wheras in the case of carriers,the opportunities for career advancement is limited.Another advantage of freight forwarders over carriers is their nature of work.Since the freight forwarding is less complicated work,they have better understanding of the cost and effectiveness of transportation business. Forwarders are far less complex because they focus on the basics factors like sales,terminal operations ,procurement of transport servicesetc

1.6 Indian Perspective
The Indian freight forwarding industry currently plagued with low demand, poor infrastructure, high costs, government regulations etc. However, it is going to turn around on the might of various factors like robust GDP growth, globalization, FDI in logistics and increasing government support. The annual logistics cost in India is estimated to be 14% of the GDP, which translates into USD 140 billion assuming the
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GDP of India to be slightly over USD 1 trillion. Out of this USD 140 billion logistics cost,almost 99% is accounted for by the unorganized sector approximately USD 1.5 billion, is contributed by the organized sector which is about slightly more than 1%. Due to which,t he logistics industry in India is in a promising stage. However, the industry is growing at a fast pace and if India can bring down its logistics cost from 14% to 9% of the GDP , savings to the tune of USD 50 billion will be realized at the current GDP level, making Indian goods more competitive in the global market. Mo reover, growth in the logistics sector would imply improved service delivery and customer satisfaction leading to growth of export of Indian goods and potential for creation of more job opportunities. But there are certain problems existing within the logistics in India. There is lack of trust and awareness among Indian shippers with regard to outsourcing logistics.The volume of outsourcing by Indian shippers is presently very low compared to the same for the European ,pacific and other developed countries. The unwillingness to outsource logistics on part of Indian shippers may be attributed to speculation about the possible benefits, perceived risk, and losing control, of sensitive organizational information, and vested interests in keeping logistics activities in -house.Unfortunately ,this tendency exist among most of the Indian companies. Indian freight forwarders also face stiff competition from multi-national freight forwarders for international freight movement. The multi national companies , because of their size and operations in many countries, are able to offer low freight rates and extend credit for long periods. Indian freight forwarders, on the other hand, because of their smaller size and lack of access to cheap capital, are not able to match the same.

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Moreover, clients of MNCs often want to deal with a single service provider and especially for FOB or Free on Board specify the cargo freight forwarders, which most of the time happen to be the multi -national freight forwarders. Asthe result of this sort of an attitude towards the Indian freight forwarders , most of the international freight forwarders dominate the Indian market .

1.7 Market Growth
The growth in the global freight forwarding market have always shown alarming growths until the later half of 2008 when the economic slowdown hit the market. The slowdown resulted in the hindrance to the growth of the market but the overall the company was still growing.Eventhough the economic slowdown hits the brake in the market ,it could only slow down the growth of the overall industry. This shows the potential of the market. The main reason for the recovery

during the slowdown was strong growth it had during the first half of 2008.Te growth rate for global forwarding is shown in Figure 1:market growth.as shown in the figure,the growth rate were at alarming rates in the beginning .In 2004,the rate of growth was 12% which showed an increasing trend to go on to 14.3% in the year 2005.The year 2006 also gave good results as it again clocked double digits in its growth rate to 13.4%market growth.The growth rate managed to stay in the double digit barrier in 2007 when it showed a 10.9% growth .It was when the economic slowdown began,a sudden depth in the growth of the global freight forwarding business became visible.The growth rate drastically droped to 2.9% from 10.9 in the previous year. Eventhough the global freight forwarding market will recover from this,the growth rate wont be in such a rate as it used to
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be.The global freight forwarding market will take at least three years to recover.But it does not mean that there wont be any growth in the global industry.The only concern will be that the growth will be in much reduced pace till 2012.

Global freight forwarding market size and growth
140000 120000 100000 80000
¤

60000 40000 20000 0
2003 2004 2005 2006 2007 2008

Figure 1:market growth

6

6

Tansport intelligence

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Figure 2:market forecast

According

to

the

experts

(transport

intelligence),the forecasted growth in the global freight forwarding industry on 2012 will be mere 1.90%,but is expected to be back in its earlier growth rates after that.Figure 2 shows the market forecast of the global freight forwarder .

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1.8 Major Players
1.8.1 Global Players
The major global players dominating the freight forwarding mark are given s follows:
Table E:MAJOR PLAYERS

Source:Armstrong and associate s

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The gl

l forwardi g market remai

fragmented with top 10 accounting for just 42 percent of the market The market leader, DHL, controls just 8.8percent, and it doesn¶t expect a miracle growth in the coming years .The rest 58% is controlled by the remaining freight forwarding companies which include many small ones too.Due to this fragmentation the market has great scope for emerging companies and is expecting to grow at a larger pace.

Global Market Share of freight forwarders

dhl global forwarding 9%

K+N 8%

DB Schenkar 6% panalpina 4% Others 58%

UPS SCS DVS CEVA 2% 2% 2%

Fi u

3:Glob l Market Share

§

¦¥

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highl

Expeditors 3%
Sinotrans 3%

Agility 3%



© ¨

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1.8.2 Indian Players:
Due to the market penetration,the major share Indian market is dominated by global MNC¶s which include DHL,Schenker,K+M,UPS,Fedex etc.As mentoned earlier ,mostly the MNC¶s dominate the total market of freight forwarding in India.Other than these,the other Players in the market includes Bluedart,Jetairways,Firstflight,Safe Express,GATI,Aqualogistics,AirliftIndia etc.In india,the Organized players use technology-based infrastructure, and integrated air and surface solutions in the domestic and international markets to their advantage. Considering that huge investments are required to set up a pan-India network, economies of scale play a very important role. The organized players offer superior service toclients in comparison to their unorganized counterparts as they provide online tracking of cargo, warehousing facilities, etc. This has enabled organized players to gain a larger share of the express cargo distribution industry. With extensive networks and high service standards, organized players have captured 65% of the express business, while unorganized or semi-organized players account for 25% of the total market.The express 7 cargo mainly deals with consignments which are mainly documents due to price factor. However, within the domestic sector, unorganized players offer a price advantage over organized players. As a result, organized sector has only 45% share of the market with unorganized players having a comparable 41% share . The dominance of the unorganized companies is clearly visible in the Indian market mainly due to its price .The unorganized companies offer more flexibility in their price when compared to the big Mnc¶s operating in India.
7

Non stop cargo

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The major players in India are given in Table F.The table shows both the Indian and domestic players in India.
Table F:major Players in India

Indian Players

International Players
Exel DHL Aramex India SembCorp Fedex BlueDart

TVS logistics Safe Express CONCOR Dynamic Logstics Gati ltd Associated RC ltd PRL SERL TCIL

There are many hindrance in the cargo business in India mainly caused due to poor infrastructure .Due to which the that will cause a slow pace in total freight forwarding process.

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2 . COMPANY PROFILE
2.1 Introduction
AirliftIndia came into existence in the year 1979 by a group of individuals who were working in big international forwarding companies with a strong desire to build up an independent forwarding company of their own. It was to grow to such gigantic proportion in just 7 years, to become one of the top five cargo agencies in India.Airlift India has branches across eleven cities of India including Mumbai, Delhi, Bangalore, Rajkot, Ahmedabad, Madras, Cochin, Pune, Vadodra ,Trivandrum and Hyderabad .Airlift (India) Private Limited , manages ,conduts and handles every year more than 50,000 tonnes of cargo in exports & forward s 70000 tonnes in imports through these branches.According to one of the directors,s ince its inception in 1980, Airlift (India) Private Limited has constantly grown by leaps and bounds to justify its present high status and the esteem it commands on the National and International fronts.Presently, Airlift (India) Private Limited in India has more than 1400 sq. ft. For its warehousing facilities showing maximum utilization and yet , more that 50% of i ts cargo moves directly from supplier to airline warehouses.The main features of Airlift India at a glance is given as follows:

‡ A highly efficient staff of over 200 persons. ‡ Turnover ± over 700 Millions in INR. ‡ A highly qualified team of personnel on the research sales and operations panel. ‡ A network of professional receiving and handling agent.
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‡ Ancillary services of Consultancy and Distribution cost analysis. ‡ A decent communications network, providing immediate access to detailed shipment date and appropriate rates throughout the world.

2.2 History And Milestones
AirliftIndia came into existence in Dec,1979 by a group of individuals who were working in big international forwardi ng companies with a strong desire to build up an independent forwarding company of their own.It started as an export air cargo agents. In the year 1980,AirliftIndia gets the approval of IATA8. By the year 1984,AirliftIndia showed implacable progress and were the no.3 agents in India As the plan of their expansion,AirLIft India branches out into Break bulk cargo in the year 1985.The company started its second branch in the capital city of Delhi in the year 1986.Success didn¶t forsake the company as it was adjusted the no.2 in all India Basis in the year 1988. It didn¶t take long to declare

AirliftIndia as the no.1 agents in India by IATA.This was during the year 1990.The company started its new branches in Cochin and Pune in the year 1993 and was quoted as the landmark year by one of the directors .It had operations in both sea and air cargo.In the year 1994,it again expanded its branches in Vadodra. AirLiftIndia rooted its strong presence in south India by opening up new branches in Tiruvanathapuram and Coimbatore in the year 1998.The new branches in Ahmedabad was added in the year
8

The Air Transport Association

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1998.As a plan to expand its business overseas,AirliftIndia opened its first overseas branch in Los Angels,USA in the year 2001. By the year 2002,Rajkot was added to its branches. It was in the same year the only overseas branch of AirLift India had to closed down due to management problems.The company claims to be in the forefront of air cargo industry in india. AirliftIndia claims to have a special bond with the customer that is trust.According to one of the directors, understanding the customer requirements,finding the ideal solutionand going the extra mile to achieve it is the reason of their success. The customers Range varies from various industry and the list is steadily growing. The range varies from FMCG, Pharmaceuticals,Textile,Wine,Engineering,Plastics,Ceramics,Furniture,Che micals,Construction,Fashion,Hospitality,Automobiles,InformationTechnolog y,Confectionaries,Telecom,Industrial Produce etc.Air lift(India) ,due to the nature of the materials it transport mainly ,the most of the transportation solutios through Airlift(India) are through Air cargo.

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2.3 AT A GLANCE:
Table G:Organization at a Glance

Airlift(India) in fig:

Branches Warehouse,offices etc Cargo exports volume Cargo imports Volume

12 50 50,000 tonnes 70,000 tonnes

Since airlift(India) focuss on giviving the best transportation solution in the most cheap and effective way ,the professionals in Airlift(India) keeps tracks of every possible transportation means and aims at delivering the best transportation means meeting the requirements of the end customer.As a result,Airlift(India) recommends the best carriers for both air and
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sea cargo in the world.The major carriers through which the transportation needs of Airlift ndia) are satisfied are gi en below:

Table H:Major Carriers

Air Cargo Air India

Sea Cargo

CMACGM

Air France

MaerskLine

Luftan a

K-Line

Briti h Airways

A L

KLM

Emrites

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2.4 Major Clients
The clients list of AirLift (India) privte ltd varies fromFMCG,Pharmaceuticals,Textile,Wine,Engineering,Plastics,Ceramics,Furni ture,Chemicals,Construction,Fashion,Hospitality,Automobiles,InformationTech nology,Confectionaries,Telecom,Industrial Produce etc .The Major clients of Airlift(India) pvt Ltd are:  ARJUNA NATURAL EXTRACTS LTD: Arjuna natural extracts ltd is a global manufacturer and exporter of standardized herbal spice extracts, specialized essential oils and omega 3 fatty acids from marine and vegetable source, in Oil and Powder forms  BATCRAFT INTERNATIONAL PVT. LTD. Batcraft International manufactures modern cricket bats  POLYHEDRON. Polyhedron is a company focusing on development, manufacture and marketing of nutraceutical products.  SHAHI EXPORTS PVT. LTD. SHAHI Exports Pvt. Ltd. is engaged in the manufacture and export of readymade garments in the International market  SYMEGA SAVOURY TECHNOLOGY PVT. LTD. Symega are specialists in plant derived natural product  STERIPHARM. It manufactures Medical, Laboratory And Scientific Equipment  CIPLA LTD Cipla, is a prominent Indian Pharmasuetical company  SHAH SAFARI design, manufacture, market and distribute trend -setting young men¶s sportswear.
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 SARJU INTERNATIONAL It specializes in manufacturing High quality Branded Fashion A pparels for the International market  B.SORABJI They are involved in the activities of Manufacturing & Trading  EAST AND WEST HANDICRAFTS PVT.LTD Manufactures and Exporting of Readymade Garment  ALOK TEXTILES Fully integrated textile company and are amongst India¶s largest textile manufacturers

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3 ORANIZATION STRUCTURE

MANAGING DIRECTOR

BOARD OF DIRECTORS

Manager {General }

Figure 4:Organizational Structure



Air Freig t

Sea Freig t

 



Clerks

 

Acc

ta t

Ex rts Ma ager

Ma ager{ Peris a le}







FINANCE &ADMINISTRATION MANAGER

Marketi g De art e t

OPERATIONS MANAGER

Imports Manager

 

Cargo Manager

Overseas Coordinator

Pacific

Counter Supervisor

Overseas Coordinator Middle East

Counter Staff

Overseas Coordinator Europe

Workers



Customer service Manager

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3.1 Finance and Administration:
The structure of Finance and Administration department of the company is shown below:

Table I:Finance and Administration Structure

Finance and Administration Manager

Senior Accountant

Accountant

Clerical Staff
Figure 5:Finance and Administration Structure

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The

Finance

and

Administration

Department is responsible for overseeing the budgeting, control and expenditure of the company.It is also responsible for all issues concerning manpower development, management and administration .

The main functions of the finance and administration department are: a) Preparation of Balance Sheet b) Preparation of Payroll c) Preparation of cash flow reports d) Preparation of audit reports e) Advising the management on legal matters f) Man power selection and allocation g) Administrating property security h) Checking the employee needs i) Overseeing the requirements of equipments in all branches

The finance and administration manager heads the finance and administration manager . The main objective of the Finance Manager is to manage funds in such a way so as to ensure their optimum utilization and their procurement in a manner that the risk, cost and control considerations are properly balanced .His functions include forecasting and estimating the requirements of funds which include both long range and short range planning.he also plays an important role in carrying out negotiations with the various financial institutions, banks and public depositors for raising funds on favourable terms. The Senior accountant comes under the hierarchy of finance and administration manager .Senior manager is

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responsible for supervising all the book keeping and other r elated things.The auditors report is presented to the financial and administration manager by the senior accountant ,the latter forwards the same to the the shareholders.The senior accountant also interprets and analyze the present accounts and prepares financial and statistical data so as to provide recomemdations to the financial manager . Under the Senior accountant comes the accountant.The accountant is responsible for the higher

function of designing where necessary, improving or modifying the system of accounts. Accountant supervise and coordinates the work of the book keeper, staff, writes up more important private and impersonal accounts and prepares the annual profit and loss accounts and balance sheet.

Ratio Analysis9
Table J:Ratio Analysis

YEAR

Equity to Total Funds Ratio

Debt Equity Ratio

Fixed Assets to Long Term Funds Ratio
.043 .039 .037

Current Ratio

2006- 2007 .219 2007- 2008 .213 2008- 2009 0.257

.73 .92 1.017

1.54 .162 1.99

Equity to total funds ratio = Equity share capital + Pref. share capital + Reserves and surplus ± Accumulated losses / Debt + Equity Debt Equity Ratio = Debt / Equity Fixed Assets to long term funds ratio = Fixed Assets / Long term funds Current Assets = Current Assets / Current Liabilities

9

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Equity to total funds ratio indicates the long term solvency mode of financing extent of own funds used in operation. It can be noticed that from the year 06-07 the long term solvency of the firm has decreased from .219 to .213 in 07-08. And there after their firm showed an increase to .257 in 08-09.Debt Equity ratio indicates the relationship between debt and equity. It can be seen that in 06-07 the debt equity ratio was .73 and there after of the firm showed a slight increase to .92 in 07-08 and to 1.017 in 08-09. it indicates a better solvency position. Long term fund ratio means the sum of shareholders fund and debt funds. It shows the proportion of fixed asset financed by long t erm funds. It indicates the financing approach followed by the firm. It can be understood from the table that the firm is showing a decreasing trend from 06-07 which was at .043 to .039 in 0708 and .037 in 08-09 .Current Asset TO ratio indicates the firm¶s ability to pay of its short term liabilities. Initially the ratio was 1.54 which was decreased to .163 in 07-08 and later it was recovered to 1.99.

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3.2Marketing Department
The marketing in the case of Airlift(India) freight forwarding company is mostly based on the trust and giving the cheapest and effective solution to the transportation of cargo for the company .Airlift(India) pvt ltd marketing is mainly based on their perf ormance and the consistant clients have the share the same ,according to one of the directors.The basic structure of the marketing department in Airlift(India) lt is given as follows:

Sea Freight

Manager {Perishable}
Exports

Manager Manager {General}

ir cargo

[Pacific]

verseas

oor i nator

Imports Manager

verseas oor i nator [Europe]

u stomer Service

Manager

Figure 6:Marketing Structure

#

##

[Mi

# #

Marketing Department

v erseas oor i nator

$

$

!" " " %

l e east]

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As

shown

in

the

above

structure,the marketing department has two divisions ie;exports and imports division.The Export division is headed by export s manager and takes care of the exports cargo.The hierarchy follows under the exports manager as manager [perishable] and manager[general].The manager[general] takes care of matters concerning general cargo or non perishable cargo .in the case of perishable components,they are taken as ai r cargo due to their nature. And for the same reason,the manager[perishable] need only be concerened with air cargo. Wheras in the case of Mana ger [general],he/she has to deal with both air cargo and sea cargo.The exporter contacts the company regardin the information regarding the cargo.The freght forwarding company deals with the documentation part which include the airwaybill 10 and the carrier is selected meeting the requirements of the exporter. The company is responsible to bring in the best and cheapest deal for the . In exporting of goods,there are mainly two ways:

 Fob(freight on board)  Cif(cost,insurance and freight)

In the case of fob,the freight charges is payed by the consignee. Depending on specific usage, it may stand for Free On Board or Freight On Board, with similar but distinct implications. FOB specifies which party pays for which shipment and loading costs, and/or where responsibility for the goods is transferred. The last distinction is important for determining liability for goods lost or damaged in transit from the seller to the
10

Documents concerning te consignee and consigner

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buyer.Free on board means that the buyer has to bear all costs and risk s of loss of or damage to the goods from that point. The FOB clears the exporter with the goods for export after cargo is on board.The consigee 11 is to responsible for all the costs occurred after the cargo is loaded on board. Wheras in the case of cif(cost,insurance and freight),the consigner 12 is responsible for all the payments .The exporter must pay all the cost necessary for the cargo to reach the required destination .The risk and damage occurring to the cargo is transferred from the exporter to the consignee.The exporter is also responsible for payment of insurance of the cargo to be transferred. The procedure in Air Cargo expoting is given in Figure 7.the exporter gives the details of the cargo to the Airlift(India) pvt ltd. who works out the documentation including the airwaybill which specifies the detils of the cargo and the consignee and consigner. The company deals with the Indian customes to clear the cargo giving the necessary data and documentation needed for them and the cargo is put on board . Once the cargo reaches its destination ,t he overseas agent with which the Airlift(India) has association withrecevies the cargo and after checking the cargo sttus is made to reach the consignee . In the case of exporting of cargo through sea mode,the procedure is almost the same .The only of transport for the crgo is through sea carriers. difference lies is the mode

11 12

Person receving goods Person sending the goods

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Air Cargo Export
Exporter
Cargo
Airwaybill

Export Entry

Indian Customs

Airlift(India)
AWB Status Cargo

Data

Overseas Agent
Cargo Status

Cargo

Consignee

Figure 7:Air Cargo Export

The preocedure in Ocean cargo export is given in Figure 8.As shown in the figure ,the overall process for exporting remains the same in se ans air cargo. The cargo hanled by sea mostly doesn¶t del with perishable items wheras the othe one does.

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Ocean Cargo Export
Exporter
Cargo Status
Export Entry Data

Indian Customs

Airlift(India)
Cargo Status Cargo Status

Overseas Agent

Cargo

Consignee

Figure 8:Ocean Cargo Export

Wheras in the import manager deals with the matters regarding importing of the cargo .As shown in the organization hierarchy,the Overseas agents and customer service manager comes under
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import manager.Mostly the Import cargo in Airlift India is based on air cargo.Since most of their clients interested in importing are related to drugs,medicines and other perishable materials,the 90% of the imports are done through air only.The various procedures which goes through the impoting cargo through air are given as follows:

Air Cargo Import
Supplier

Overseas Agent

Cargo

Status

Customs Clearance

Indian Customs
Customs Release

Airlift(India)

Consignee

Cargo Status

Figure 9:Cargo import

There are mainly

three overseas coordinater for the

imports division of Airlift(India) pvt ltd .They are each for the Pacific,Europe
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and Middle east.The main duties of the overseas coordinater include communicating with the overseas agents with whom they have a tie up with and ensure an healthy relationship with their respective overseas agent abroad.Whearas the customer service manager deals with the consignee and the make ensure the safety of the imported cargo Eventhough there occurs limited amount of imports through sea,the importing through sea does occur in Airlift (India).before the import,the overseas coordinater is contacted by the respective overseas agents giving information about the cargo and the customs clearance and other documentation in India are tken care by the company.

Ocean cargo Import

Supplier

Overseas Agent
Customs Clearance

Cargo Status
CargoStatus

Indian Customs

Airlift(India)
Cargo Status

Consignee

Figure 10:Ocean Cargo Import

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3.3 Operations Department
The basic structure of the operation department in Airlift ndia) is gi en as follows:

Operations epartment Cargo

Manager
Operation Assistant

Counter Supervisor

Counter Staff
Figure 11: peration Structure
'

Operating

transportation

and

freight

forwarding assets requires expertise in a wide range of areas, including asset
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acquisition, aircraft and vessel operations, terminal operations, maintenance and overhaul, labor management, fuel purchasing and regula tory affairs. This wide range of disciplines also requires lots of expertise in multiple functional silos, most of which are internally focused and not facing the customer. The operations department in Airlift(India) is headed by a cargo manager who has the clear cut idea of the different transportation means and maintenance of the cargo.The operation assistant is present to assist the cargo manager in the operation procedures angives the updates about the various cargo handled by the company. The cargo manager gets reports by the divisional cargo manager regarding the imports and exports in the particular area.The daily works of cargo department varies from documentation of cargo to supervision of cargo.The daily works of cargo department in one the branches of Airlift(India) in Cochin is as shown is sequence as follows:
Daily works on cargo department in Cochin branch: 1) Issuing of carting order on export cargo 2) weighing of export cargo 3) Booking cargo for agent 4) Allocation for the flight 5) Supervision of cargo loading 6) On arrival of flight meet and collect input documents 7) As per docement confirm cargo received 8) supervision of loading to filght 9) prepare cargo manifest

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The operation department is also responsible for the customs clearance and other documentation procedures needed for the transportation process.There are mainly three types of documentations in freight forwarding:
y Bill of Lading y Freight Bill y Freight Claims

Bill of Lading is the key contract on which freight moves .It is the legal contract for the movement of designated freight with reasonable dispatch to a specified destination,arriving damage free. The main three purposes of bill of lading are:  It serves as a receipt of goods.  It serves as a contract of carriage.  It serves as a documentary evidence of title. Wheras ,Freight Bill contain information bout the freight charges.In addition to this ,it contains much of the same information of bill of lading such as origin and destination,quantity ,product and the person s involved.The freight Claims deals with the claims made against the carrier. Now ,for the purpose of transportation of goods,there exist airwaybill dealing with the nature if transportation.There are mainly two types of airwaybill:  MAWB (Master Airway bill)  HAWB (House Airway bill) In the case of MAWB or Master airwaybill,the shipments are sent on the direct basis.Wheras in the cse of HAWB or House Airwaybill,the shipments are sent on a consolidation basis whereby grouping
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together various clients consignments under one MAWB being issued by the company. The operations department is also responsible for the storage of the cargo if necessary.The company deals with mostly perishable items and most the air ports have facilities to or cold storage to store these components.Since most of the consignments are received at the time of the delivery,there is hardly the need of storing for a long period of time.Eventhough ,if the situation demands the company has a good warehousing facilities all over India to meet the needs of the customer if needed. The Figure 12 shows the warehousing module of the company:

Warehouse
Consignee

cargo Status

Warehouse
Data

Data

Import Airlift(India)

Export

Figure 12:Warehousing

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4 .CASE STUDY:
From its existence,Airlift(India) pvt ltd has been showing considerable growth and managed to strengthen its roots in the country by opening various branches all across the country including cities like

Delhi,Mumbai,Banglore,Ahmedabad,Rajkot,Chennai,Pune,Cochin,Vadodara,tir uvanathapuram,Hyderabad etc. Inspired by the alarming growth and the increasing customers,the directorial board of Airlift(India) pvt ltd decided to extend its business to the international stage.The expansion of the branch would give the company more brand value and increase the revenue of the company.The expansion will also reduce the dependency of the home market of the company. As the part of the expansion plans,the board meeting was called upon to decide the location to open its branch overseas.The decision was finally made to open its first branch in Los Angels,USA in the year 2001 where the company thought is worth investing as they deal a lot of freight shipments through their fellow forwarders in Los Angels. They roped in a group of professionals who were working in other private companies in USA and were dealing with the Airlift(India) ltd in their shipments in the pacific region to work for the Los Angels branch of AirLift(India) pvt Ltd.The company started of by recommending the former clients (who dealt with fellow forwarding companies in USA) to utilise the services of the new office of Airlift(India)pvt ltd.The branch in Los Angels failed to perform with the expectations of the companies and was forced to close down within an year of its funct ioning.The
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directorial branch at the head office found it difficult to manage the branch overseas and had to cope up myriad issues involving the management of the Los Angels branch.The same affected the performance of the branch in the Los Angels and the first and only overseas branch of the company ceased to exist in 2002.

4.1 Analysis of the problem
The case identified in the the concerened organisation deals with failure of the expansion of the company¶s branch overseas.The company eventhough started with great enthusiasm in the start ,it failed to carry forward the momentum forward.The company managed to get great individuals at the start who are great at getting the things going but lost their motivation once the company went beyond the start up phase.The main reason for the collapse of the overseas branch in Los Angels was the lack of control of the branch from the head office perspective which is located in Mumbai.The head office of Airlift(India) pvt ltd eventhough had followed successful management strategies in the regional branches ,it failed to keep in track with the changing developments in the Los Angels branch. The company communication with the overseas branch located in Los Angels was limited and this lead to certain management problems occurring in the Lo s Angels branch.One of the main mantra behind the success of an organisation is the communication between the branches and departments ,failing to do so will result in disastrous results.The lack of communication between the branch at Los Angels and the head office created a distinction among the employees at Los Angels from the company and for the same reason the head office wasn¶t

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able to succusfully heed to the opinions of the management team in the Los Angels branch. This lack of communication lead to distrust among the employees of the overseas branch and the head office.The management problems gave rise to decrease in the office assignments receiving in the Los Angels branch which in turn lead to causing financial debts in the Los Angels branch.The branch in Los Angels let alone meet the company¶s expectations , failed to deal with rising financial debts in their branch.As this continued , the directors of board in the head office dec ided to hold a meeting which decided to shut down the companies first overseas branch in Los Angels by the latter half of 2002.

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4.2 SWOT Analysis Strengths
 Quality and reliability.  Superior performance vs competitors in terms of delivery.  Experience of staff.  Delivery capability  A network of professional receiving and handling agent.  Management is committed and confident.

Weakness
 Freshers training not practised
 Stiff Competion from MNC¶s  Failure to manage overseas branch

Opportunities
 Potential Domestic and International Market  Could extend to overseas  Growth in freight forwarding market

Threats
 Competion from other forwarding companies  Offerring competitive price to customers

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Conclusion:
The study at Airlift(india) pvt Ltd reveals the imporatance of the freight forwarding in the trade.The marketing o f Airlift(India) pvt Ltd is mainly based on trust and keepin a good healthy realationship with the existing customer.They takes responsibility of the given consignment and supplies transport companies with large flows of goods. As a result, confinement and time of transport services without consignment is noticeably shortened. In such a way,the participation of skilled freight forwarders in the process of organizing the transportation of goods do not increase expenses for transport service for the customer but reduces costs due to the choice of the optimal transport route and commercial discount s for transport and insurance rates. The freight forwarding industry will continue to benefit from growth in trade in the recent years.A need for an integrated approach to logistic chain has been already recognised in theory and practice. Multinational firms in the industry or retail sector i.e. show an increasing demand for complex transport and logistics service .The emergence of new technologies causes a deep change in the relations hips along the logistic chain . The transport and logistics provider are urging to attain the services of the new developments in IT sector to provide better and cheap services and to oust out their competitors.

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FINDINGS:

From the organisation study conducted Airlift(India) Pvt Ltd ,certain trends in the Indian scenario was noticed. My findings from the study is summarized below:  Most of the Indian companies use the freight forwarding or logistics providers purely for the inbound and outbound transportation and also for the custom clearance.Hardly any of the customers in Airlift(India) ltd are keen in utilising the warehousing facilities provided to them.  Upon enquiring with some of the Indian companies who use the services of such providers ,the reasons for not utilising the outsourcing were that they were concerned about the capabilities of the freight forwarders and also mentioned about the poor infrastructure of the forwarders in india.

 Upon detailed inquiry,the Indian companies who outsource their transportation needs was found to be only 55% of the whole when compared to 71% in the US (Sahay).Most of the Indian companies are not opting to it because they have still doubt in the capabilities of the provider.

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 Also,those who opt for them,mostly confine the services to custom clearance and transport.

INDIA

USA

Figure 13:common activities outsourced in India and USA

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Bibliography Ballou, R. H. (2005). Business Logistics/Supply Chain Management (5th edition ed.). Pearson Education. Burkovskis, R. (2008). EFFICIENCY OF FREIGHT FORWARDER S PARTICIPATION. Dept of Transport Management, Vilnius Gediminas Technical University,Lithuania. Burnson, P. (Nov 2009). Freight Forwarders-BRACE FOR CHANGE. Logistics Management , 52s-59s. Business Line. (2010, March 03). Airlines see scope for expanding cargo capacity. Logistics - Events . Dechter, B. (n.d.). 3PL or Freight Forwarder:wat is the name? Retrieved from © 2010 Thomas Publishing Company: http://www.inboundlogistics.com ForwarderMomentum. (march 2008). Opportunities for value creation in freight forwarding. MERGEGLOBAL VALUE CREATION INITIATIVE. Macmillan. Supply Chain Management in India: Problems and Challenges. Sahay, B.S. Mitra, S. (2006). A survey of Indian third-party logistics service providers. IIMB Management Review. Sahay, D. B. 3PL Practices in India. Gurgaon, India: Centre for Supply Chain Management. Smiths, B. (n.d.). Sea-Freight - Everything You Need to Know About Sea -Freight. Retrieved from EzineArticles.com: http://EzineArticles.com/?expert=Bob_Smiths Stewart, J. (2004 , april 26). Expanding Your Business Overseas. UNITED NATIONS ECONOMIC COMMISSION. Ad-hoc Expert Group Meeting on multimodal transport, (p. ECA/TRID/03/03 Vol. 2). Addis Ababa, Ethiopia.

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