flowserve microfinish marketing project

8/17/2019 Flowserve Microfinish Marketing Project

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A study on Impact of Customer Relationship M anagement practices towards customer retention at F lowserve Microfin ish Val ves

KLE‘s Institute of Management Studies and Research, Hubli Page 2

A. Project Profile

Need for the study:

The purpose of the study is to get practical knowledge and to get experience and also to

know the various challenges that are faced in the real world. The main intention of

choosing this topic is to study/to know:

In the present market customer has variety of option of product and services.

Measures how product or services supplies by to meet a customer expectations.

What all customers need to maintain long lasting relationship

Study provides information to company with a metric that they may use to

manage and improve their business.

Study output can be one indicator of how likely a customer will make a purchase

in the future.

Topic

―A study on Impact of Customer Relationship Management practices towards customer

retention at Flowserve Microfinish Valves.‖

Research Objective:

To study the CRM activities in Flowserve Microfinish Valves Pvt. Ltd.,

To study the customer satisfaction level towards the product and after sales services.

To identify the areas of improvement from CSS (customer satisfactory survey)reports.


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B. Research Methodology

Research Design:

Descriptive Research

Research data collection methods:

Primary data: Administrated through Questionnaire

Secondary data: Company website and company documents

Sample population:

47

Sample Size:

30

Sampling method:

Non-Probabilistic, Judgmental-sampling method

Sample unit:

Company customers since 3 years

Data analysis tools:

Google forms and Microsoft Excel


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C. Findings

Around 63.3% customers say that they came to know about Flowserve Microfinish

products through intermediaries, 13.30% from advertisements and 23.30% from personal contacts with the company.

Around 90% of the customers agree that the company give importance to their needs

and rest 10% of the customers do not agree that the company pay attention to their

needs in the organization.

Around 71% of the customers give more importance to timely delivery, 22% give

importance to product quality, 6% customers give importance to discounts and offers

by the company and 1% customers give importance to the extra services that are

offered by the company.

Around 82% customers say that they receive festival greetings from the company,

7.70% customers get birthday reminders, 7.30% customers get purchase reminders

and 3% customers who have personal contact receive anniversary greetings as well.

Around 26.7% customers say that they are highly satisfied with the credit facility

offered by the company, 36.70% customers are satisfied with the credit facility, 20%

customers are neutral, 16.60% customers are dissatisfied with the credit facility and

0% customers are highly dissatisfied with the credit facility offered by the Flowserve

Microfinish.

Around 20% customers are highly satisfied with the discount facility, 36.70%customers are satisfied, 33.30% customers are neutral, 6.40% customers are

dissatisfied and 3.60% are highly dissatisfied with the discount facility offered by the

Flowserve Microfinish.


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D. Recommendation

According to the analysis it is observed that only 13.40% customers came to know about

Flowserve Microfinish Products through advertisements and 63.3% customers came to

know about intermediaries, with many intermediaries company will get less profits so to

avoid this some of the following strategies are being suggested to the Flowserve

Microfinish:

1. Company should increase its promotion and this can be done by giving advertisements

in valves or related B2B magazines so that the products of the company get good

exposure to the buyers and it also creates good brand image.

2. Company should have presence on social media because it will enhance the

relationship with the existing customers and also it is easy to find the target customers by

monitoring the people‘s activities on social media using software like Sysomos.

According to the analysis, 10% customers say that company doesn‘t recognize their

needs and keeping all customers satisfied is the one of the key factor to maintain long

term relationship and also it enhances the retention rate of the existing customer, to

overcome this it is recommended to the company to take customer feedback with the

help of questionnaire every six months and design strategies according to the feedback

reports and if there is any valid suggestion from the customer then it has to be

implemented by the company so that it makes sure that the company will be able to

understand what exactly customers need and how to satisfy those needs in a much better

way.


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According to the analysis, it is observed that 6.70% customer‘s say that company does

not recognizes its customer and takes initiation to maintain good relationship with them

and also 16.70% customers are not sure about the company‘s customer relationship

practices so it is recommended to company to adopt integrated customer relationship

software to optimize the customer relationship by having all the necessary data of

customers felid into the software so that it can delight customers on their special

occasions without any fail and while placing order it can review customers about their

previous purchases this will result in customer satisfaction and also enhances customer

retention.

According to the analysis, 16.60% customers are dissatisfied with the credit facility of 30

days so it is recommended to the company to increase the credit duration to 45 days

considering the companies cost so that it attracts the customer to purchase frequently

from Flowserve Microfinish and it can have competitive advantage over competitors who

has less credit duration.

According to the analysis, 8% respondents feel that company is not giving proper

response on their query so it is recommended to company to train the employee on how

to respond to customer when they ask any query, the employee should have in depth

knowledge about all the products offered by the company to make sure that employee

should respond by answering all the queries and also give additional information to the

customers so that it may result in up-selling which will benefit the company.


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E. Conclusion

This project has given me an insight into the area of how a reputed engineering company can

look at critically evaluating the present CRM (customer relationship management) system and

take steps to act upon annual customer satisfactory survey remarks and suggestions offered by

major customers.

The objective of this study on the topic “A study on impact of Customer Relationship

Management practices towards customer retention” at Flowserve Microfinish Valves Pvt

Ltd., Hubli, was to make a detailed study of functioning of CRM and understand how a goodCRM can drive improved sales performance of the company.

I learnt from this project some aspects about how the customers‘ highlight some aspects such as

complaints, products & Services offered, delivery time, maintenance of products quality, etc. to

influence their satisfaction level. Customer satisfaction is improved in recent years along with

the increase in the sales. Thus, according to me, the current CRM activities of Flowserve

Microfinish found to be effective and some areas for improvement to be considered based on my

study are brought to the attention of the organization.


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2. Industry Overview

About the Valves Industry:

The industrial valve is experiencing rapid growth due to the development of chemicals and

petrochemicals industries. Power generation plants are to be restructured to increase

efficiency in energy saving and environmental protection. Future investments in nuclear

power generation are likely to generate substantial revenue for the total industrial valves and

actuators markets, creating numerous growth opportunities for market participants.

A valve is a device designed to regulate the flow of a gas, liquid, slurry or dry material

through a pipeline. Valves not only regulate the flow of material but also the rate, volume,

pressure and the direction of flow. The valve manufacture association observes that valve is

basic items in our society: they are required in virtually all manufacturing processes and

every energy production and supply system. Today valves are made from a variety of

materials and range of complexity from simple to highly sophisticated. They range in size

from a fraction of an inch to more than 30 feet in diameter and they can handle pressure froma vacuum to more than 20000 pounds per square inch.

The organized sector of the Indian valve industry is estimated to be Rs 1000crore, while the

unorganized sector contributes additionally over more than 500crore. Almost 50% of the

market is shared by the two companies (L&T and BHEL), while the rest have individual

market share of 4% or less.

There are over 100 companies mostly in the unorganized or the small-scale sector and the

industry as is evidently high fragmented. The growth rate of this industry estimated at 10 to

15%.


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With increasing activity in the manufacturing and infrastructure sectors and big infrastructure

projects like power, oil, chemical etc. being launched in India, there is a huge potential for

growth of the Indian valve manufacturer. Investments between April 2004 and September

2005 in the iron & steel sector alone will be in the region of Rs 28,798 crores while in

petrochemical it is estimated at Rs 9,420 crores, the valves requirement of these projects

would be close to Rs 600 crores. Global sales of valves are worth about US $ 40 billion,

which is expected to touch $56 billion by year 2009. US, Germany, Italy and Japan are the

leading countries manufacturing valves with 50% of total world production. The rough patch

between 1998 and 2003 is over and the valves industry is growing at a face pace. Growth

opportunities are good what with new projects slated to come up in the power, chemicals,

pulp and paper, iron and steel, food and beverage industries. The Indian valve industry is

categorized into two sectors: one is the domestic application valves and the other is the

industrial valves.

There is stiff competition in the domestic valves segment as a majority of the players is in the

unorganized sector. These companies are able to manufacture small range of valves that are

of decent quality with ease. In addition, valves from China and other countries are easily

available in the market.

The quality requirement in the industrial valves segment is quite stringent. Hence, a few

major valve manufacturers are actively playing a role in the sector. The sector again faces

stiff competition from companies in the unorganized sector who are using substandard

products and selling them at a lower price.

Modern process plants use valves to control various parameters including flow, volume,

pressure and temperature and can be used for mixing different flow media.

The world market for industrial valves is expected to grow steadily to $54 billion in 2014 up

from $47 billion in 2008.


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Valve companies are finding many new opportunities for their products. Applications with

double‐digit growth include ethanol, LNG, desalination, and biotechnology. Alternative fuel

sources including oil Sands, oil shale and coal liquefaction also represent promising markets.

The share of various industry sectors in the market for valves can be seen below. As it is the

biggest market of valves is the Oil and Gas Sector at 16% followed by refining sector at 13%.

India is already a manufacturing hub for many internationally renowned valve and valves

manufacturers such as CRANE, AUDCO, FLOWSERVE, DURCO, AK,KSB SPIREX

SARCO AND XOMOX.

A. Global Scenario:

Various manufacturers based on technology, manufacturing capacities, brand name, and

quality and price competitiveness largely share the valve market. US, Germany, Italy and

Japan are the leading countries manufacturing valves with 50%of total world production.

TYCO is the world‘s largest producer of valve and controls 80 brands. The company has

pioneered new designs and technologies in this field.

The demand for valve is witnessing growth in all the areas. All core sectors of industry,

namely power, oil, gas, water, infrastructure project, metal, mining, pharmaceuticals, food

and beverages require various types of valve for expansion of capacities, de-bottlenecking or

routine maintenance and repair of plants.

According to figures released by the Valve Manufacturers Association (VMA) as part of its

annual market forecast, the U.S. industrial valve industry is expected to grow by 3% in 2013

with total shipments nearly $4.3 billion. In its fourth consecutive year of growth following

the recession, the industry will surpass its previous 10-year peak set in 2008.


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Association members polled in a recent VMA economic survey mirrored optimism about the

economic outlook. Results of the poll showed that 85% of the membership expects 2013 to

be better or equal to 2012, which was already better than predicted. 2012 figures surpassed

initial projections, reaching $4.15 billion, which represents 22% growth over the last decade.

Overall, the VMA forecast reveals only slight changes for most of the 15 end-user industries

served by its members.

While power generation is predicted to have the largest increase in shipments from 2013. The

greatest number of valves will be shipped to the chemical industry, which is expected to rise

just 0.1% to 17.2% of the market share. Four other industries including petroleum refining

and oil and gas transmission are expected to record smaller increases of 0.2 or 0.1 percentage points.

As been reflected in presentations at the VMA 2012 Market Outlook and the 2013 Technical

Seminar, despite the fact that water and wastewater is still the second largest user of valves,

that industry is forecast to decline by 0.6 percentage points to 16.2% of the total. Seven other

industries show smaller declines.

Since 2003, automated valves have accounted for more than any other type of valves, and

2013 was no exception. Automated valve sales totaled $1.3 billion in 2013, followed by

$760.5 million in ball valve sales.

Globally, a majority of the demand for pumps and valves is coming from their installation in

varied end – user industries of oil and gas, power generation, and heavy industries (like

cement and metal).Globally the Pumps & Valves market is around USD 110 ‐120 bn., of

which around USD 52 billion valves & Pumps around 60 billion.


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B. Indian Scenario:

Good news is knocking the doors of the Indian valve industry. After a brief slowdown in

activities for past few years, the Indian valve industry has now entered the growth phase of

the business life cycle. Indian valve industry is now on the threshold of a major

transformation. Its globalization in the true sense for the Indian valve industry with MNC is

rushing to tap the growing valve market in India and to take advantage of the low cost labor,

at the same time make India their export hub for global market. As far as the Indian valve

manufacturers go, they are gearing themselves up to explore the overseas markets and at the

same time working hard to reach the top position in domestic market.

The Indian market for this equipment also thrives on the similar global pattern, with demand

primarily originating from the country‘s wide spread oil and gas exploration and production

activities, refineries, and other core sectors. As per Frost & Sullivan‘s research, the

cumulative Indian market size for pumps & valves is in a range of $ 2.5 bn. out of which

around 60% is valves and 40% pumps.

The Indian market of pumps & valves has traditionally dominated by international

companies. While few home grown, companies like Kirloskar Brothers Limited (KBL),

Virgo valves do figure in the top list of Indian manufacturers, factors associated with limited

technology knowhow and financial constraints have impeded the growth of many others.

Globally pumps & valve market has seen host of mergers & acquisitions in past, the

relatively flat growth of the market is one of the main underlying factors driving such

acquisitions. This trend is set to continue as manufacturers face growing competition from

global conglomerates and pressure to reduce costs. Indian market is also poised forconsolidation that has large number on unorganized players in pumps and valve market.


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Microfinish was set up in the year 1978. They manufacture industrial valves and pumps.

Microfinish is known for its quality product and has got certificate of ISO 9002. In 1998,

Flowserve Pvt Ltd of USA came to India by entering into a joint venture with Microfinish

Hubli. As Microfinish is known for its quality product worldwide, the Flowserve Corporation

made a technical collaboration with the Microfinish valves. Flowserve Pvt. Ltd., came to

India, gave technical and management training to the employees of the Microfinish in the

year 1996, and commercialized its business in the year 1998. The training they gave was of

high standard and then later Microfinish of Hubli was able to produce spare parts of high

quality. When Flowserve Pvt Ltd inspected, the spare parts that came out to be more than the

expectation, Microfinish started its separate 100% exporting unit and came to be known as

Flowserve Microfinish Pvt Ltd, Hubli.

Valves and pumps manufacturing units have a 1500sq.ft and 10000 built up area to house the

facilities respectively. Both the divisions have an open space of 10000 and 13000 sq. ft.

respectively for further expansion. In addition, the two units have excellent machine testing

facilities consisting of CNC‘s, center lather, milling, drilling, grinding machines, SPM‘s etc.

supported by adequate gauging measuring instruments. Dedicated staff and workers strive to

ensure that the company‘s quality objectives are achieved.

The company is having a documented quality system to meet the requirements of ISO 9001-

2008 to ensure that its orders processed, products manufactured meet the requirements of the

customers. Further, the company is also certified for CE-Marking.


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A. Vision and Mission:

Vision:

To manufacture quality valve products for the process industry worldwide. We embrace the

concept of quality and people involvement to enhance ―TOTAL QUALITY

SATISFACTION‖ and commit to maintain this standard of excellence through continual

improve and use of quality management system.

Mission:

To manufacture quality valve products for the process industry worldwide. We embrace the

concept of total quality and people involvement to enhance ―TOTAL CUSTOMER

SATISFACTION‖ and commit to maintain this standard of excellence through continual

improvement and use of quality management system.


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B. Company Profile:

Name of the organization Flowserve Microfinish Valves Pvt Ltd.,

Type of the organization Private Ltd company

Registered office CTS No 568/1, industrial area,Hubli-30

PromotersFlowserve Corporation, USA and Microfinish valves

Ltd, Hubli

Year of Establishment 1998

Products Manufacturing and exporting of industrial valves

Accounting period 1st April to 31st March

No. of Directors 5

Factory area 3.5 acres, built up area:1500sq ft.

Production marketing Marketed by Flowserve corporation USA

Quality certificationISO 9001:2008, Got CE making certification OSHAS

18000[British standard]

List of Directors

Mr. Tilak Vikamshi (Managing Director)

Mr. Deepak Vikamshi (Director)

Mr. S Gopinath (Director)

Mr. William .D. Born (Director)

Mr. Greehin James Thomas (Director)


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C. Achievements

The company is ISO 9000-20008 recognized.

The company is also certified for CE-making.

As per the safety related audit connected by Flowserve US, the company is certified

as the ―Safest Entity‖ scoring 99% beating even the Singapore and Bangalore units.

It has also bagged the best garden award ensuring to get even the best ―FLOWER‖

award.


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D. Organization Chart

BOARD OFDIRECTORS

ADMINISTRATION

AND ACCOUNTS

QUALITY

ASSURANCE

PERSONAL

OFFICER

PLANNING &

PURCHASE

PRODUCTION

AND

ASSEMBLY

ASSISTANT

ACCOUNTANT

SALES

AND

SHIPPING

OFFICER

RECEIVING

QUALITY

ENGINEER

LOCAL

PURCHASER

MAINTENANCE

INCHARGE

SHIFT-2

INCHARGE

SHIFT-1

INCHARGE

STORE

OFFICER-2

STORE

OFFICER-1

PLANNING

AND

PURCHASE

ASSISTANT

FINAL

PRODUCT

ENGINEER

IN

PROCESS

QUALITYENGINEER

ASSEMBLY

SUPERVISOR

DEVELOPMENT

ENGINEER


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E. Product Overview

Introduction to valves:

A Valve is a device that regulates the flow of fluid (gases, liquids, fluidized solids or slurries)

by opening, closing or partially obstructing various passageways. Valves are technically pipe

fitting, but are usually discussed as separate category. Valves came in a wide variety of

styles, sizes and pressure classes and in design, function and application. Today‘s continuum

of availability of valves extends from simple water faucets to control of the process.

Basic functions of valves:

1. Starting and stopping flow

2. Regulating flow volume.(frequently called throttling)

3. Preventing reserve flow.(called anti-back down)

4. Changing flow direction

5. Limiting fluid pressure

Types of valves:

1. Gate valves

2. Plug valves

3. Ball valves

4. Butterfly valves

5. Cryogenic valves

6. Diaphragm valves

7. Globe valves

8.

Piston valves

9.

Fire safe valves

Among these valves, Flowserve Microfinish Valves Pvt. Ltd., manufactures only Ball Valves

and Plug Valves.


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Sl. No Products Size range MaximumPR rating

Materials ofconstruction

1 Ball valves 15-20015-50

#300#800

CS/SSCS/SS

2 Plug valves 15-30015/300

#150#300

CS/SSCS/SS

Application of valves to the following Industry:

Oil and gas facilities, hydrocarbon processing refineries, and petrochemical plants

Fossil fuel, nuclear, and combined cycle power plants

Fertilizers, chemical and pharmaceutical industries

Food and beverage plants

Mining, minerals processing, and sectors

Pulp and paper mills

F. Area of Operations

Flowserve Microfinish valves Pvt. Ltd., company has its operation throughout the world.

The company has operated more than 15 countries in the world. Some of them are as follows:

USA

SOUTH AFRICA

AUSTRALIA

UK

TAIWAN

GERMANY

KOREA

BRAZIL

MEXICO

SINGAPORE

HONGKONG


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Ball Valve:

Plug Valve:


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G. Work Flow model:

Client technical

enquiryClient firm RFQ

Submission of

offer from

MVPL

Negotiation

(Technical and

commercial)

Packing and

dispatching

Painting (usually

for CS only)

Final product

quality checking

and inspection

for the finished

goods by

client/TP

Submission of

GAD, QAP &other documents

for final

approval of

clients

Order booking,

preparing WOand distributing

to all the

departments &

submission of

OA to clients.

Receipt of PO

from branchesto S&S

department

PO from clients

to zonal officesfor head office

Production &

assembly and in

process quality

checking

Receiving

material &

checking the

quality and

maintaining in

stores

Placing the

purchasing

order for raw

materials

components and

accessories

Distribution of

the approved

drawings to

P&P,S&S,P&A

and QA

departmentsRFQ- request forquotation

PO- Purchase order

OA- Order acceptance

WO- Work order

GAD- General Assemblorder

QAP- Quality assurance plan


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H. Departmental Study

1.

Administrative and Accounts department2. Planning and Purchase department

3. Sales and Stores department

4. Production and Assembly department

5. Quality assurance department

Administrative department:

Objective:

The objective is to recruit the personnel providing, suitable training to employees, welfare,

time office function, stationery, obligation and other administrative functions. The personnelofficer is responsible of returns. He is responsible for housekeeping of office and factory

premises, maintaining personnel files and records, canteen administration.

Administration

and accounts

Account assistantPersonal officer


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Functions of Administration Department:

1. Training

2.

Recruitment

3. Safety

4. House keeping

1. Training

Objective: This is to provide adequate training to the personnel of all departments performing

activities affecting quality.

Responsibility: Administration and account department (A&A) in-charge through personnel

officer is overall responsible to ensure that the training needs of personnel of all the

departments are fulfilled to identifying the appropriate trainer in consultation with the top

management for arranging the training.

2. Recruitment

Personnel officer is responsible for recruiting the right person for the right job. He takes into

consideration the knowledge, skills and work experience of the person.

3. Safety

Objective: To ensure safety and healthy environment for personnel.

Responsibility: administration and accounts department is in-charge through personnel

officer is responsible for safety related activities.

4. Housekeeping:

Objective: To ensure good, healthy, clean, neat and safe work environment.

Responsibility: while the activities are co-ordinate by the personnel officer, each and every

individual is responsible for its implementation.


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Planning & Purchase Department

Purchase Department:

Objectives: To ensure that all the purchase/processed items and services meet the specified

requirements.

Steps involved in purchasing are:

Purchase activity starts from work order given by sales department.

To prepare bill of materials

To check in stock at stores

To arrive at the total requirement of materials

To select the approved vendor from the list of approved vendor and place the order

for required material

To store the accepted material and return the rejected material to vendor and issue the

accepted material to production and assembly department

Planning and

purchasedepartment

Local purchaserStore officer-2Store officer-1PlanningSales and

shipping order


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Types of plan:

Tentative plan: It is a plan for the particular, which is drawn five weeks prior to the

month.

Final plan: It is a plan that is issued one week earlier to the particular month. It can be

modified, if required on the basis of information from other departments.

Important highlights:

Planning and purchase in-charge is responsible for drawing tentative and final

―monthly manufacturing plan‖ through assistant.

Production and assembly in-charge is responsible for modifying to meet urgent

customer requirements.

Plan is drawn to approximate 90% of capacity and 10% of capacity is reserved to

meet urgent amendments.

Tentative plan is modified or amended if required on the basis of feedback

information from other departments.

Final plan is issued one month earlier to the particular month.

Final plan is amended, if required on the basis of feedback from production and

assembly department.

Sales and Stores Department

Store-2 officerStore-1 officerSales and shipping

In-charge

Sales and store

department


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Objectives:

To ensure that both technical and commercial aspects are received for

adequacy, deviation and capacity.

Is to ensure that all the complaints are attended to the customer satisfaction.

To ensure that all suppliers are capable of meeting purchase required

consistently including requirements of PED97/23/EC.

To ensure accessibility and prevent damages to raw material/components and

products.

Functions:

Preparation of work order and amendments

Sales drawing

Inspection call

Control of customer property

Handling, Cleaning, Storage, Packing and Delivery

Attending customer complaints

Preparation of invoice and delivery Chelan

Shipping and final document

Servicing

Customer Satisfaction Survey

Sales Activities of FMVPL are as follows:

Receiving Order

Contract Review

Contract amendments if necessary

Issuing internal work order

Packing and dispatching


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Store Departments

Objectives:

To provide general guidelines for monitoring stock levels from material receipt stage

through finished components\finishes valves.

Responsibility:

Store officers are responsible for proper accounting, handling, storage, raw

material\components, and products. Store officers of respective stores are responsible for

planning .The store space in store section and assigning the material to identified location

and maintaining record of receipt and issue the material.

Production and Assembly department

Production &

Assembly

Shift-1 Maintenance Assembly Shift-2

FittersMaintenance

assistance

Helpers

Machine

operation

Helpers

Machine

operation


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Production Department:

The production department ensures that the production process is identified, planned

and carried out under controlled conditions with monthly manufacturing plan.

Objective:

The objective of the production department is to improve the productivity, to reduce

the cost of production without any compromise on quality and to manufacture ‗non-defective

quality products‘ training the employees.

The production process is carried out in the following three steps:

Design development review

Process control

Production planning and process

Design development review:

The assistance in development activity by FMVPL commence after receipt of component

drawings. The control and issue of drawings is done as per work instruments. Patterns

whenever required are developed by FMVPL through suppliers. PAD develops process,

tooling‘s, jigs and fixtures and manufactures components, sub-assemblies and assemblies

as detailed in PAD work instruction. Castings components are sent for their

review/approval. Components after final review are released for bulk production. The

PAD head, through the shift in-charge will review the general assembly drawings and

components of new design or modification.


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Process control:

The production department ensures that the manufacturing process is carried accordance

with monthly manufacturing plan, which is as per procedure for production planning. The

production department head plans the production operations. The department head will

ensure the suitable maintenance of equipment for process capability. Equipment‘s are

verified as capable of producing in accordance with the product specification. The product

and process characteristics are monitored in consultation with the quality assurance

department and non-conformity components are duly identified and disposed of. Any

special services to the product are compiled with as against the customer demand. Shift in-

charge responsibility is to ensure that the tools and instruments are kept in appropriate places and record of issue and receipt is maintained and submit instrument is due for

calibration. He is also responsible to place indents to the planning and purchase

department upon exhaustion of material.

Production planning and process:

After receiving the work order the production and assembly in-charge will instruct the

production personnel to check whether the required material available or not. If materials

are not available, the report will be made to the planning and purchase department. Return

note will be provided if excess material issued by store department.

Material issue slip has to be provided by the production personnel while collecting the

material to processing from stores. Non-conformity review and disposition report has to be

made when components are finished and returned to store through finished components

inspection. Material requisition note has to be prepared or collecting the components for

assembly. The shift in-charge will collect the drawing from the drafter for processing the

production and assembly in-charge prepares the daily production schedule through which

he schedules the production and machine loading the shift in-charge will load the

machines and provide instruction to the machine operators by means of job cards along

with relevant drawing.


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Assembly Department

Assembly preparation:

P&A personnel collect duly machined and accepted components as per work

order and assembly job card. Debar all sharp corners if any. Clean all components using de-

greasing solution and water by brushes or other appropriate method. Dry the components by

blowing the air.

Assembly method:

Here the products are assembled with light coat, screw stud bolts into the tapped

holes in the body, apply light coat of silicon lubricant on the chamfered surface of the stem

washer and slide the stem washer on to the stem with chamfered ID side. Apply light coat of

silicon lubricant on packing rings of ID. Be careful not to scratch the ID of the packing rings

on the threaded section of the stem. Apply light coat of silicon lubricant on one side of the

gland surface, place the packing gland, ground spring washer, check nut and gland nut on the

stem, and then tighten the check nut according to stem nut torque chart.

Post assembly:

If the valves manufactured are fire safe valves, then F/S should be clearly written

on the valves. Write work order No. on the valve. Provide end caps on both sides and hand

over valves for testing to the QAD.

Corrective action:

Corrective actions are taken to eliminate the cause of actual non-conformities in

order to prevent re-occurrence. All the non-conformities at receiving in process and in final

stage are recorded in ―Non-Conformity review report‖. Corrective action is initiated by the

functional in-charge based on criticality of the problem, repetitiveness of non-conformities

and impact of non-conformity on final product. For taking corrective action, respective

section head takes the


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non-conformance details and identifies the root causes of non-conformity by analyzing the

data, by using techniques and tools of quality, brain storming as appropriate. Based upon the

root cause analysis, necessary corrective action is planned correctively and preventive action

report is prepared. The verification of the effectiveness of the corrective action taken will be

done by department in-charges over a period. If corrective action found effective then non-

conformity is closed.

Quality Assurance Department

Objective:

The main objective of this department is to ensure that quality is maintained

throughout the production process till the product is dispatched. This department is to ensure

that the documented procedure is prepared to meet the requirements of ISO 9001 and the

quality policy. It is the responsibility of the quality assurance department head to ensure that

the requirements of ISO 9001 as concerned to the quality assurance department are met.

Quality assurance

Receiving quality

Component Testing

Workers

Final productIn-process quality


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This is the department where the pre-quality checking and final quality checking is done.

Earlier days this department was known as the inspection department where they used to just

inspect the production without bothering about the customer‘s satisfaction. After some years

this department is named as quality control department where more importance is given to

customer satisfaction and nowadays this department is known as the quality assurance

department where the manufacturers assure about their products.

The quality assurance department is the one where the jobs are checked after each step. In

quality checking only the finished jobs are considered. Quality assurance procedures comply

with the highest industry standards. We can supply products with chemical-mechanical tests

reports, non-destructive testing, NACE certification, CE making, AGA approved product andassemblies.

1. Receiving items quality inspection:

The raw material received by PPD with challan which consists of serial number,

date, quantity, weight, identification etc. all materials are coming from outside such as

castings, bars and bought items – nuts, bolts and sub-contractor items are inspected as per the

drawings or according to the applicable work instructions, purchase order, work order,

standard codes and the company engineering standards. Receiving quality engineer is

responsible to ensure that the quality of incoming components/raw material/products in

accordance with the established methods and the quality of all accepted items are confirming

to the specified requirements. The various methods of inspecting the components are visual,

dimensional and special tests. There are three main inspections:

Receiving raw material quality inspection

Quality inspection of sub-contracted items

Quality inspection of bought out items


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• NO threat in the sense ofcompetitors, because it is notindependent firm, but it has got

joint venture with FlowserveUSA.

•The only threat is FlowserveUSA may take back shares inMicrofinish or can stop givingexport order to FlowserveMicrofinish pvt ltd.

• Export order received is greaterthan what they are able to produce,so opportunity to increase

production capacity for whichready market is available.

• Whatever is produced is exported.

• Opportunity to enter plug valvemarket.

• International customer show moreinterest to buy from FlowserveMicrofinish products.

•It is not having separatemarketing development.

• No international re-organization by its own name.

•Inadequate supply of rawmaterial.

• The company have excellentnetwork, which provides goodquality product with minimumtime.

• ISO standard helps in marketing atinternational level.

• The HR system is there which provides good motivation, trainingto new employees etc.

• The company has unity in teamwork and gives good salary to itsworkers.

• Benefits provided by governmentto 100%EOU UNIT. They areexempted from tax for 10 years.

Strength Weakness

ThreatsOpportuni

ties

I. SWOT Analysis


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4. Introduction to the study

A. Customer Relationship Management (CRM) Overview

CRM is an approach to managing a company‘s interaction with the current and future

customers. It often involves using technology to organize, automate, and synchronize sales,

marketing, customer service and technical support.

Definition:

CRM is concerned with the creation, development and enhancement of individualized

customer relationship with carefully targeted customers and customer groups resulting in

maximizing their total customer lifetime value.

Why does the organization need CRM?

The ultimate purpose of CRM, like any organizational initiative, is to increase profit. In the

case of CRM this is achieved mainly by providing a better service to your customers than

your competitors. CRM not only improves the service to customers though; a good CRMcapability will also reduce costs, wastage, and complaints (although you may see some

increase initially, simply because you hear about things that without CRM would have stayed

hidden). Effective CRM also reduces staff stress, because attrition - a major cause of stress -

reduces as services and relationships improve. CRM enables instant market research as well:

opening the lines of communications with your customers gives you direct constant market

reaction to your products, services and performance, far better than any market survey. Good

CRM also helps you grow your business: customers stay with you longer; customer churn

rates reduce; referrals to new customers increase from increasing numbers of satisfied

customers; demand reduces on fire-fighting and trouble-shooting staff, and overall the

organization's service flows and teams work more efficiently and more happily.


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Characteristics:

The following characteristics are associated with delivery of excellent CRM:

Reliability

Responsiveness

Accessibility

Safety

Courtesy

Benefits of CRM:

There are significant business benefits that accrue from an effective, integrated CRM

approach. These include:

Reduced costs, because the right things are being done (i.e., effective and efficient

operation)

Increased customer satisfaction, because they are getting exactly what they want (i.e.,exceeding expectations)

Ensuring that the focus of the organization is external

Growth in numbers of customers

Maximization of opportunities (eg. increased services, referrals, etc.)

Increased access to a source of market and competitor information

Highlighting poor operational processes

Long term profitability and sustainability

Recognizing the customer

Competence

Consideration

Communication


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Principles of CRM:

Principle 1: CRM Is Not a Software Purchase. It is a Strategy.

Start by focusing on the strategic foresight to ensure a CRM solution meets stakeholder

expectations, define how CRM plays a key supporting role in the corporate strategy,

articulate the ultimate state of the customer relationship, and consider its effect on all

business units and end-users from the start.

Principle 2: CRM Must Fit the Way You Work — Today and Tomorrow

Choose a CRM solution that includes a flexible architecture and platform technology. This

allows organizations to more cost effectively tailor the system to their unique business

process and to be adaptable and competitive as needs change. Growth, competitive changes,

and new mandates can place a strain on some companies as they struggle to accommodate

these changes within an inflexible technology structure. Forward-thinking enterprises select

flexible CRM systems that will enhance their business agility.

Principle 3: Define Measurable CRM Business benefits.

Consider the anticipated ROI (Return on Investment) of a CRM project during the selection

process. By defining CRM success and identifying corresponding metrics up front,

companies can help ensure their ability to demonstrate ROI when they need to. Management,

business users, IT staff, and the CRM vendor must work together to pre-set the right

indicators and targets and to tie the CRM technology to appropriate business processes and

data requirements. This approach will validate a CRM investment in terms of business value

executives and stakeholders can appreciate.


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Principle 4: Consider Total Cost of Ownership (TCO) Carefully.

Determining the TCO (Total cost of ownership) for a CRM system can be hard to predict,

due to the uniqueness of each implementation and the differing levels of complexity among

enterprise technology environments. However, analysts estimate that up to 90% of total CRM

costs are associated with customizing, integrating, deploying, supporting, and maintaining a

CRM system. Companies selecting on-premise CRM (software is purchased up front and

installed on the company‘s own servers and infrastructure) face the majority of their CRM

costs up-front. Although sometimes daunting, this allows companies to budget for and

address most of their CRM costs at the outset, measuring ROI against the initial investment

and declining costs over subsequent years. In contrast, a hosted or ―Software as a Service‖CRM delivery model typically requires a smaller up-front investment and attractive monthly

cost, but over a three-year period, may actually have a comparable or higher total cost of

ownership than an on-premise solution. In addition, with hosted solutions, your company

does not own the software or the infrastructure on which it is hosted - providing a different

value proposition to on premise solutions.

Principle 5: Think Beyond Features; Pick the Right Partner.

It‘s important to assess business objectives, technology strategy, IT budgets, opportunity

costs, customization requirements, and industry-sector requirements before selecting a CRM

solution. However, beyond that, it‘s important to ensure that you‘re picking a solid partner

you can work with now and in the future. The right partner will help you determine the

appropriate CRM Solution to fit your business needs, and be able to assist in leading you to

establish and define the business objectives for the project.


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B. Project profile

Need for the study:

The purpose of the study is to get practical knowledge and to get experience and also to

know the various challenges that are faced in the real world. The main intention of

choosing this topic is to study/to know:

In the present market customer has variety of option of product and services.

Measures how product or services supplies by to meet a customer expectations.

What all customers need to maintain long lasting relationship

Study provides information to company with a metric that they may use to

manage and improve their business.

Study output can be one indicator of how likely a customer will make a purchase

in the future.

Topic

―A study on Impact of Customer Relationship Management practices towards customer

retention at Flowserve Microfinish Valves.‖

Research Objective:

To study the CRM activities in Flowserve Microfinish Valves Pvt. Ltd.,

To study the customer satisfaction level towards the product and after sales services.

To identify the areas of improvement from CSS (customer satisfactory survey)

reports.


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C. Research Methodology

Research Design:

Descriptive Research

Descriptive research is used to describe the characteristics of a population without

answering the questions about how, when or why the characteristics occurred. In

involves lots of statistics analysis. Descriptive statistics analysis data to describe,

show and summarize it in a meaningful way (statistics and graphs), offering a

window through which raw data can be glimpsed and comprehended clearly by

different researchers.

Research data collection methods:

Primary data: Administrated through Questionnaire

Primary data - are originated by a researcher for the specific purpose of addressing

the problem at hand.

Secondary data: Company website, company documents

Secondary data are data that have already been collected for the other than the

problem at hand.

Sample Population:

47

Sample Size:

30

Sample unit:

Company customers since 3 years


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Sampling method:

Non-Probabilistic, Judgmental-sampling method.

Non-probabilistic sampling: In non-probability sampling, there is an assumption

that there is an even distribution of characteristics within the population.

Judgmental Sampling: In judgment sampling, the researcher or some other "expert"

uses his/her judgment in selecting the units from the population for study based on the

population‘s parameters.

Data analysis tools

Google forms and Microsoft Excel


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5. Observations and Analysis

1. How you get to know about Flowserve Microfinish products?

Interpretation: The above pie chart indicates that 63.3% customer came to know about

Flowserve Microfinish products through intermediaries, 13.40% from advertisements and

23.30% from personal contacts with the company.

23.30%

13.40%63.30%

Personal Contact

Advertisements

Distributors


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2. Since how many years you are purchasing products from Flowserve Microfinish?

Interpretation: The above pie chart indicates that 3.40% respondents are buying since 1 to

2 years, 13.30%respondents buying since 2 to 3 years, 23.30% respondents are customer

since 3 to 4 years and 60 % of the respondents are buying for more than 4 years from


3.40%

13.30%

23.30%60%1 - 2 Years

2 - 3 Years

3 - 4 Years

> 4 Years


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3. Does company corporate strategy gives importance to a customer needs?

Interpretation: The above pie chart indicates that 90% of the customers agree that the

company give importance to their needs and rest 10% of the customers do not agree that the

company pay attention to the customer needs.

90%

10%

Agree

Disagree


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4. Do you feel relationships with the customer are given great valve in the organization?

Interpretation: The above pie chart indicates that 76.7%customers feel that company gives

importance in maintaining the relationship with them, 6.60% customers do not feel that the

company does not making any efforts to maintain relationship with customers whereas

16.7% customers are not sure about the company‘s customer relationship practices.

76.70%

6.60%

16.70%

Yes

No

Maybe


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5. Which facilities do you expect most from the company to maintain long-term

relationship?

Interpretation: The above pie chart indicates that 71% of the customers give more

importance to timely delivery, 22% give importance to product quality, 6% customers give

importance to discounts and offers by the company and 1% customers give importance to the

services that are offered by the company.

71%

6%

22%

1%

Timelydelivery

Discounts

Product quality

Services offered


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6. Do you think Flowserve Microfinish recognizes its customers and maintain the

relationship?

Interpretation: The above pie chart indicates that 80% of the customers agree that company

recognizes its customers and tries to maintain good relationship with them, 6.70% customers

do not agree that company does not take any initiation to maintain good relation with the

customers, and 13.30% are neutral they either agree nor disagree.

80%

6.70%

13.30%

Yes

No

Maybe


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7. What initiation does company take to maintain good relation with you?

Interpretation: The above bar chart indicates that82% customers say that they receive

festival greetings from the company, 7.70% customers get birthday reminders, 7.30%

customers get purchase reminders and 3% customers who have personal contact receive

anniversary greetings as well.

Purchasereminders Festival greetings Anniversaryreminder Birthday reminder

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

7.30%

82%

3.00%7.70%


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8. How do you find the credit facility offered by Flowserve Microfinish?

Interpretation: The above bar chart indicates 26.7% customers say that they are highly

satisfied with the credit facility offered by the company, 36.70% customers are satisfied with

the credit facility, 20% customers are neutral, 16.60% customers are dissatisfied with the

credit facility and 0% customers are highly dissatisfied with the credit facility offered by the


0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

Highlysatisfied

Satisfied Nuetral Dissatisfied Highlydissatisfied

26.70%

36.70%

20%

16.60%

0%


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9. Are you satisfied with the discount facility offered by the Flowserve Microfinish?

Interpretation: The above bar chart indicates that 20% customers are highly satisfied with

the discount facility, 36.70% customers are satisfied with the discount facility, 33.30%

customers are neutral, 6.40% customers dissatisfied and 3.60% are highly dissatisfied with

the discount facility.

0%

5%

10%

15%

20%

25%

30%

35%

40%

Highlysatisfied


20%

36.70%

33.30%

6.40%

3.60%


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10. How do you feel about customer query solving at Flowserve Microfinish?

Interpretation: The above bar chart indicates that 40% customers are highly satisfied with

customer query solving, 38% are satisfied, 13.70% customers say that they are neutral,

6.30% customers are dissatisfied and 2% are highly dissatisfied with the customer query

solving.

0%

5%

10%

15%

20%

25%

30%

35%

40%

HighlySatisfied


40%

38.00%

13.70%

6.30%

2.00%


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11. Are you satisfied with the documentation and presentation of Flowserve Microfinish?

Interpretation: The above bar chart indicates that 37.70% customers are highly satisfied

with the company‘s documentation, 43.30% are satisfied, 11% are neutral, 5.70%

Dissatisfied and 2.30% are highly dissatisfied with the documentation.

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

45.00%

Highly

satisfied

Satisfied Nuetral Dissatisfied Highly

dissatisfied

37.70%

43.30%

11%

5.70%

2.30%


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12. Would you like to recommend Flowserve Microfinish products to others?

Interpretation: The above pie chart indicates that 78.70% customers said yes to recommend

Flowserve Microfinish products to others, 4.60% customers do not want to recommend

Flowserve Microfinish products and 16.70% customers may recommend in the future.

78.70%

4.60%

16.70%

Yes

No

Maybe


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13. Are you satisfied with the Flowserve Microfinish products range?

Interpretation: The above pie chart indicates that14% customers are highly satisfied with

the product range offered by the company, 63.30% are satisfied, 16.70% are partially

satisfied, 6% customer are dissatisfied and 0% customers are highly dissatisfied with the

product range offered by the Flowserve Microfinish.

14%

63.30%

16.70%

6%

Highly satisfied

Satisfied

Partially satisfied

Dissatisfied

Highly dissatisfied


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14. How satisfied are you with your complaints getting resolved from Flowserve

Microfinish?

Interpretation: The above pie chart indicates that42% customers are satisfied with quick

response from the company in solving customer complaints, 39% customers are satisfied,

12% customers are partially satisfied, 6% customers are dissatisfied and 1% customers are

highly dissatisfied with the customer complaints solving by the company.

42%

39%

12%

6%

1%

Highly satisfied

Satisfied

Partially satisfied

Dissatisfied

Highly dissatisfied


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15. How do feel about pricing of the Flowserve Microfinish products compared to

competitors?

Interpretation: The above pie chart indicates that13.80% customers say that Flowserve

Microfinish products are comparatively high priced when compared to competitors, 62.10%

customers say that prices are similar to competitors, 1% customers say that Flowserve

Microfinish offers low price than the competitors and 24.10% customers say that they find

worth for the price offered by Flowserve Microfinish.

13.80%

62.10%

1%

24.10%

High Pricing

Similar Pricing

Low Pricing

Worth for the price


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16. Are you satisfied with the Flowserve Microfinish after sale service?

Interpretation: The above pie chart indicates that39% customers are highly satisfied with

the after sale services by the Flowserve Microfinish, 42% customers are satisfied, 16%

customers are partially satisfied, 3% customers are dissatisfied and 0% customers are highly

dissatisfied with the after sale service offered by the Flowserve Microfinish.

39%

42%

16%

3%

Highly satisfied

Satisfied

Partially satisfied

Dissatisfied

Highly dissatisfied


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6. Findings

Around 63.3% customers say that they came to know about Flowserve Microfinish products through intermediaries, 13.30% from advertisements and 23.30% from

personal contacts with the company.

Around 3.40% customers are buying from 1 to 2 years, 13.30% customers buying

from 2 to 3 years, 23.30% customers are buying since 3 to 4 years and 60 % of the

customers are buying for more than 4 years.

Around 90% of the customers agree that the company give importance to their needs

and rest 10% of the customers do not agree that the company pay attention to their

needs in the organization.

Around 76.7 % customers feel that company gives importance in maintaining the

relationships with them, 6.6% customers do not feel that the company does not

making any efforts to maintain relationship with customers whereas 16.7% customers

are not sure about the company‘s customer relationship practices.

Around 71% of the customers give more importance to timely delivery, 22% give

importance to product quality, 6% customers give importance to discounts and offers

by the company and 1% customers give importance to the extra services that are

offered by the company.

Around 80% of the customers agree that company recognizes its customers and tries

to maintain good relationship with them, 6.70% customers do not agree that company

does not take any initiation to maintain good relation with the customers, and 13.30%

are neutral they either agree nor disagree.


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Around 82% customers say that they receive festival greetings from the company,

7.70% customers get birthday reminders, 7.30% customers get purchase reminders

and 3% customers who have personal contact receive anniversary greetings as well.

Around 26.7% customers say that they are highly satisfied with the credit facility

offered by the company, 36.70% customers are satisfied with the credit facility, 20%

customers are neutral, 16.60% customers are dissatisfied with the credit facility and

0% customers are highly dissatisfied with the credit facility offered by the Flowserve

Microfinish.

Around 20% customers are highly satisfied with the discount facility, 36.70%

customers are satisfied, 33.30% customers are neutral, 6.40% customers are

dissatisfied and 3.60% are highly dissatisfied with the discount facility offered by the


Around 40% customers are highly satisfied with the customer query solving, 38%

customers are satisfied, 13.70% customers say that they are neutral, 6.30% customers

are dissatisfied and 2% customers are highly dissatisfied with the customer querysolving at Flowserve Microfinish.

Around 37.70% customers are highly satisfied with the company‘s documentation,

43.30% are satisfied, 11% are neutral, 5.70% Dissatisfied and 2.30% are highly

dissatisfied with the documentation at Flowserve Microfinish.

Around 78.70% customers said yes to recommend Flowserve Microfinish products to

others, 4.60% customers do not want to recommend Flowserve Microfinish products

and 16.70% customers may recommend in the future.


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Around 14% customers say that they are highly satisfied with the product range

offered by the company, 63.30% are satisfied, 16.70% are partially satisfied, 6%

customer are dissatisfied and 0% customers are highly dissatisfied with the product

range offered by Flowserve Microfinish.

Around 42% customers say that they are satisfied with quick response from the

company in solving customer complaints, 39% customers are satisfied, 12%

customers are partially satisfied, 6% customers are dissatisfied and 1% customers are

highly dissatisfied with the customer complaints solving by the company.

Around 13.80% customers say that Flowserve Microfinish products are

comparatively high priced when compared to competitors, 62.10% customers say that

prices are similar to competitors, 1% customers say that Flowserve Microfinish offers

low price than the competitors and 24.10% customers say that they find worth for the

price offered by Flowserve Microfinish.

Around 39% customers are highly satisfied with the after sale services by theFlowserve Microfinish, 42% customers are satisfied, 16% customers are partially

satisfied, 3% customers are dissatisfied and 0% customers are highly dissatisfied with

the after sale service offered by the Flowserve Microfinish.


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7. Recommendations

According to the analysis it is observed that only 13.40% customers came to know about

Flowserve Microfinish Products through advertisements and 63.3% customers came to

know about intermediaries, with many intermediaries company will get less profits so to

avoid this some of the following strategies are being suggested to the Flowserve

Microfinish:

1. Company should increase its promotion and this can be done by giving advertisements

in valves or related B2B magazines so that the products of the company get good

exposure to the buyers and it also creates good brand image.

2. Company should have presence on social media because it will enhance the

relationship with the existing customers and also it is easy to find the target customers by

monitoring the people‘s activities on social media using software like Sysomos.

According to the analysis, 10% customers say that company doesn‘t recognize their

needs and keeping all customers satisfied is the one of the key factor to maintain long

term relationship and also it enhances the retention rate of the existing customer, to

overcome this it is recommended to the company to take customer feedback with the

help of questionnaire every six months and design strategies according to the feedback

reports and if there is any valid suggestion from the customer then it has to be

implemented by the company so that it makes sure that the company will be able to

understand what exactly customers need and how to satisfy those needs in a much better

way.


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According to the analysis, it is observed that 6.70% customer‘s say that company does

not recognizes its customer and takes initiation to maintain good relationship with them

and also 16.70% customers are not sure about the company‘s customer relationship

practices so it is recommended to company to adopt integrated customer relationship

software to optimize the customer relationship by having all the necessary data of

customers felid into the software so that it can delight customers on their special

occasions without any fail and while placing order it can review customers about their

previous purchases this will result in customer satisfaction and also results in customer

retention

According to the analysis, 16.60% customers are dissatisfied with the credit facility of 30

days so it is recommended to the company to increase the credit duration to 45 days

considering the companies cost so that it attracts the customer to purchase frequently

from Flowserve Microfinish and it can have competitive advantage over competitors who

has less credit duration.

According to the analysis, 8% respondents feel that company is not giving proper

response on their query so it is recommended to company to train the employee on how

to respond to customer when they ask any query, the employee should have in depth

knowledge about all the products offered by the company to make sure that employee

should respond by answering all the queries and also give additional information to the

customers so that it may result in up-selling which will benefit the company.


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8. Conclusion

This project has given me an insight into the area of how a reputed engineering company can

look at critically evaluating the present CRM (customer relationship management) system and

take steps to act upon annual customer satisfactory survey remarks and suggestions offered by

major customers.

The objective of this study on the topic “A study on impact of Customer Relationship

Management practices towards customer retention” at Flowserve Microfinish Valves Pvt

Ltd., Hubli, was to make a detailed study of functioning of CRM and understand how a good

CRM can drive improved sales performance of the company.

I learnt from this project some aspects about how the customers‘ highlight some aspects such as

complaints, products & Services offered, delivery time, maintenance of products quality, etc. to

influence their satisfaction level. Customer satisfaction is improved in recent years along with

the increase in the sales. Thus, according to me, the current CRM activities of Flowserve

Microfinish found to be effective and some areas for improvement to be considered based on my

study are brought to the attention of the organization.


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flowserve microfinish marketing project

Documents