THANG LONG UNIVERSITY INTERNSHIP REPORT TOPIC: SOLUTIONS TO IMPROVE THE EFFICIENCY OF BUSINESS ACTIVITIES IN THE NHAT PHUONG INVESTMENT AND IMPORT-EXPORT COMPANY Name: Nguyen Tuan Quang
Company Background
Important events
In November 2010, Nhat Phuong Investment and Export Joint Stock Company was established under the Business Registration Certificate No 0104992888 dated 05/11/2010
When newly established Nhat Phuong Investment and Export Joint Stock Company imports and distributes baby diaper products for children in Vietnam
By the end of 2010, Nhat Phuong joined hands with one of Japan's leading Meiji dairy corporations, and became one of the distributors of dairy products to the domestic market of the group in Vietnam
By 2015, Nhat Phuong Company will officially distribute dairy products to Morinaga's domestic market to diversify its products and import more dairy products for pregnant women
In March 2016, Nhat Phuong became the official distributor of Ofukuro Dashi Ofukuro Soy Sauce
From late 2017 until now: Nhat Phuong has expanded to import and distribute functional products such as spirulina
Over 8 years of development of international quality products in Vietnam, Nhat Phuong has grown steadily with a nationwide distribution network and annual sales growth of no less than 15
+ MEIJI CORP: Meiji Powdered Milk, renowned all over the world
No 1 In Sales In Japan
The company started overseas-oriented powdered milk business in the 1950s Currently, they export powdered milk for infants and nursing mothers to Taiwan, Hong Kong, and Vietnam The powdered milk they sell to overseas market is manufactured under the same manufacturing principles as the products they sell domestically in Japan They make use of high-technological skills developed in Japan to offer safe, high-quality products that you can consume with peace of mind Furthermore, just like the products we sell domestically,
3 the products we sell to Taiwan, Hong Kong, and Vietnam are also produced in our Saitama factory They employ quality control practices of the highest standard to provide the best product to our customers
Morinaga Milk was established as Nippon Rennyu Co., Ltd in 1917 with the primary aim of manufacturing dairy products The company merged with Morinaga & Co., Ltd and was then split off, taking its current form as Morinaga Milk Industry Co., Ltd in
1949 Morinaga Milk Group celebrated its 100th anniversary in 2017 In addition to condensed milk and infant formula, products that it has offered since its founding, the Group has produced a wide range of products based on milk, including Morinaga Milk, Bifidus Yogurt, Creap (creaming powder), and Mt RAINIER CAFFE LATTE
As a world's first company to be successful for commercial production of Spirulina in 1977, Dainippon Ink and Chemicals, Inc (current name: DIC Corporation) have endeavored to stay at the leading position in spirulina business Today they operate 2 sophisticated spirulina farms in the world, and consolidated total production capacity is about 800 tons per year, which makes us the world largest spirulina producer They would like to emphasize the advantages of our DIC Spirulina, and its details.
About Nhat Phuong Company
Nhat Phuong investment and import export joint stock company: A company of the type formed, existed and developed by the capital contribution of many shareholders
In that Mr Hoang Duc Tien - Chairman of the Board
Mrs Nguyen Hoang Phuong Nga - shareholder - head of finance and accounting
Mrs Hoang Kim Thu - shareholder and director of the company
The company's equity up to 2018 is 3,500,000,000 VND
Transaction name: NHAT PHUONG IMEX., JSC
Business Line: Milk and Functional Foods - Imports & Distribution
Head office: No 11, Lane 192/14, Thanh Xuan District, Hanoi City
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Website: https://www.nhatphuongimex.vn/
Email: nhatphuong.imex@gmail.com
Currently the company has 2 branches at:
1 - Warehouse No 6 Le Quang Dao, Nam Tu Liem District, Hanoi
2 - No 6, Alley 69B / 33 Hoang Van Thai, Khuong Mai Ward, Thanh Xuan District, Hanoi
+ Target customers: The current customer segment of Nhat Phuong company is children from birth to 6 years old
+ Nhat Phuong is one of the leading companies with the business motto "Bring joy and health to the children", Nhat Phuong will make more efforts to bring more products to the domestic market in Japan with competitive prices suitable to consumers in Vietnam to meet the nutritional needs, always improve the quality of the products have been to contribute a part in nurturing children - preschool future of society In addition, Nhat Phuong is constantly striving to diversify its products not only in the baby products, but also in the elderly, in order to improve the nutritional awareness and health care needs of Vietnam consumer
+ By 2020, Nhat Phuong is in the list of 10 largest importers in Vietnam
+ Expand the customer segment to many age groups
+ Company will be expand a import field at Australia , Russia … to multilining the product for the user for the user is many of more than the same time
Nhat Phuong Products
- Meiji Step (For 1 to 3 year olds)
- Meiji Rakuraku Cube Hohoemi (for children from 0 to 12 months)
- Meiji Hohoemi (for children from 0 to 12 months)
- Morinaga Hagukumi Milk (for children from 0 to 12 months)
- Morinaga Chirumiru Milk (For 1 to 3 year olds)
- Dashi Ofukuro Soy Sauce for baby food
Spirulina 100% (spirulina), MACA functional food
Currently the company is expanding its business of functional foods (men's vitamins, fucoidan, some fucoidan, algae) sunshine ), some special foods as directed by the doctor
Distribution system
Distributed in retail outlets in 64 provinces across the country
Presented in most major supermarkets for mother and baby in Vietnam such as:
- The Tuticare system: in Hanoi, HCMC Ho Chi Minh City, Hai Phong, Binh Duong, Binh Phuoc Can Tho, Dong Nai, Ninh Binh, Phu Tho, Quang Ninh, Thanh Hoa, Tien Giang
- Baby Shop System: in Hanoi, HCMC Ho Chi Minh City, Hai Phong, Can Tho, Dong Nai, Ninh Binh, Thanh Hoa
- Kid Plaza: Hanoi, Ho Chi Minh, Da Nang
- Bibomart System: in Hanoi, HCMC Ho Chi Minh City, Hai Phong, Can Tho, Dong Nai, Ninh Binh, Thanh Hoa
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Profit before taxes 2.412.709.638 3.458.567.367 6.657.316.508 Profit after taxes 1.819.352.219 2.261.277.175 4.392.987.381 Earning per share 18.295.602 23.761.403 43.169.253
(Source: Source: Income Statement of Nhat Phuong Company in 2017)
Revenue and profit of the company increased sharply in 2017 because after 7 years of development in Vietnam market, the company has a certain number of loyal customers, not to mention in late 2016 Nhat Phuong signed a contract with Kid Plaza supermarket to expand distribution market share This promises that in 2018, Nhat Phuong's revenue and profit will increase because some 2016 and 2017 exploration items will officially be distributed
Company Structure and Organization Chart
Nhat Phuong organizational chart
Figure 1: Nhat Phuong’s Organizational Chart
Description
Board of Management is the highest authority of Investment Join Stock Company
The General Assembly of Shareholders is held annually by the request of the chairman of the governing board and important shareholders
The General Assembly of Shareholders is competent for most important decisions of the company
- The General Assembly of Shareholders has the right to approve the development of the company
- The General Assembly of Shareholders has the right to decide on amendments and supplements to the Charter of the company
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- The General Meeting of Shareholders is authorized to approve the annual financial statements of the company In addition to reviewing and approving the financial statements, the General Meeting of Shareholders also reviews reports on the management and administration of the company These reports serve as the basis for the General Meeting of Shareholders to evaluate the management effectiveness of the Board of Directors and the General Director of the company as well as to decide the dismissal or removal of members of the Board of Directors and the CEO
The CEO is the legal representative of Nhat Phuong, who is appointed by the shareholders meeting In nhat phuong,CEO direct the work, participate in contracting, operating daily business operations, ensure the growth of the company
- Organize the implementation of decisions of the Managing Board;
- Organize the implementation of the business plan and the investment plan of the company;
- Propose the plan on arrangement of the organizational structure and internal management regulations of the company; Decision on salary increase, rotation of staff
Nhat Phuong's CEO, Mrs Hoang Kim Thu, is a great contributor to Nhat Phuong's steady growth over the years
The main functions of the department are: Human resource management, financial reporting, and business reporting… Due to the small size of the company, some rooms are combined for management and optimization This makes the work of the department more diverse, but also heavier It has two sections in charge of two separate sections
- Administration Department: Management of procurement on equipment, staff recruitment, payroll structure
- General Accounting: Salary, financial accounting, financial reports, balance sheet, income statement
This is the backbone of the company Chief of staff is Nguyen Hoang Phuong Nga, one of the major shareholders of the company
This is the most crowded department of Nhat Phuong In addition to the official staff, Nhat Phuong also has some part-time outsourcing contracts The main task is to carry cargo from
9 port to warehouse, from warehousing to distribution agents, labeling and auxiliary stamp This includes jobs that require health, so most employees are young men
Next to the Administration - General Accounting, this is the important Department of the company This department will maintain contact with the exporters in Japan, Australia ,the shipper, contact the dealer The department is responsible for expanding its market share in the Vietnamese market Employees in this department must participate in many stages and must be professional Therefore, this is the department that I have the desire to practice when applying for a job in the United States
- Market share analysis, market leader analysis;
- Market orientation sets a sales target ;
- Researching and developing new products including conducting surveys of customer needs Contacting new external partners to find out the source of supply as well as ensuring distribution units when selling goods in Vietnam;
- Provide strategies to ensure revenue growth along schedule;
- In charge of customer care hotline, reception handling complaints ;
My Department and role as a trainee
During the internship at Nhat Phuong I was assigned to the import / export department, being facilitated by my department head who was involved in some practical stages in the company's operations so that it could Better understand how the company operates My main role during this time is to receive documents, clearance at ICD My Dinh After receiving the original application from Japan, my task is to bring to the veterinary inspection agency to carry out animal testing procedures, because the type of business that I participate in milk is to have some Special requirements After receiving the results from the Veterinary Department, I brought the records to the ICD Here I declare the customs, clear the goods clearance, temporary storage warehouse, contact the freight company, schedule the loading and unloading with the warehouse At Nhat Phuong, Import Export Department is considered the most important part, I am fortunate that I
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10 have personally participated in, implemented and supervised the process since then to know more about how to calculate the cost of products Everything is really interesting, I really learned useful knowledge After completing my work, I have to enter details of all information in the system and report daily to the manager so that the department manager can monitor the work process management
The Mission: Assigned Tasks & Goals
The tasks assigned to my position
I have been working as a trainee since June 2018 I was educated and worked under the direction and guidance of the head of import and export department-Mrs.Nguyen Thu Huyen
My main role during this time is to receive documents, clearance at ICD My Dinh
Table 2: My assigned tasks in NHAT PHUONG
- To get understanding History, Type of company,Oriented development, Nhat Phuong Products, Nhat Phuong organizational chart
- To understand import-export process
- Directly involved in a stage in the import-export process Learn about the process of customs declaration online and offline Learn more about the field you are practicing, the market share of the company is occupying
- Get acquainted with some computational software as well as a company's data system
- Having the opportunity to work directly with foreign companies, transportation companies, warehousing, I understand better the process of import and export from import to delivery
- Directly implementing a Meiji dairy import and export business under the guidance and supervision of team leader-Mrs.Hien
- Directly down to the port of duty, monitoring the process of importing from which to better understand the process of importing goods, customs clearance, transportation procedures
- Be involved in the process of business development planning in the last 6 months of 2018, learn the skills of analysis and evaluation of business efficiency, analyze competitors so that the development direction is effective
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September30th- October Make internship report
(Source: The author planned himself)
The link between the subject matter and my mission
After three months internship jn Nhat Phuong, I found that most of the steps in the rectangle were handled directly with the human element Nhat phuong now has a small number of employees, so the department has a very high degree of this is also an advantage when I can be involved in more stages I also participate in some online workflows when I use some online systems to ensure the effectiveness of work: Monitoring system work progress Nhat Phuong's partners are mainly in foreign countries Regular contract negotiation is done by email, telephone and fax Nhat phuong also has a number of contracts with shipping service providers such as Heung-A, NYK, In viet nam, Nhat Phuong used railway transportation with long-term contracts ensure the best price, most competitive compared to their competitors.
The goal to reach
- Market research to improve efficiency in the work;
- Research assessments about the department I am practicing;
- Meet and solve complaints and inquiries of customers to improve the quality of services;
- Study to expand market share, maximize competitive advantage.
What I can bring to the company
On the first goal of improving business efficiency of Nhat Phuong, I realized When I study customs procedures, freight services, warehousing, customer care I can identify the market trend as well as the situation, the direction of the work The strengths and weaknesses of the company to contribute to the business orientation of the company as well as some recommendations to improve the quality of services, from here to the Nhat Phuong company to a new height with individual strengths
First of all, I believed that for a company that specializes in trading all kinds of services, customer factors are at the forefront, so there must be a holistic solution to bring satisfaction from customers Currently the department still has a combination of functional departments when the department of import and export is responsible for customer care This makes the department sometimes overloaded, many customer comments have not been received and resolved from here
13 creating a discomfort from the customer Cause mainly due to the lack of staff in Nhat Phuong, a staff must occupy multiple positions
After a period of internship here, I had a customer survey and came up with a detailed report with suggestions for the department head and company leaders
- First: Establish customer service center with 24/7 support, which is the place where customer complaints are solved
- Second: Enhanced control at the delivery department Currently, Nhat Phuong market is mainly for wholesale agents, so retailing is not focused
-Third: Apply some promotions to distributors, agents as well as retail customers to increase the attractiveness of products Build up point accumulation mechanism for loyal customers
Article 2: Transportation Aspects: Currently, due to Nhat Phuong's main market is Japan, there are many transportation providers with different preferential rates Nhat Phuong company after having established a position on the market, can further consider switching to another carrier to minimize costs Nhat Phuong still maintains its transportation partner from the first day of the market This has the advantage of being safe and convenience in the payment process Nhat Phuong company should make a detailed costing report to find the most suitable service provider
In addition, there are some air cargoes by air Currently the Nhat Phuong company is still using DHL's services, evaluating the cost quite high compared to the current site After identifying these issues, I discussed with my supervisors to determine the optimal route to reduce the shipping price to the customer It is possible to use the shipping method for some commodities that do not require time factor, as well as to use some additional measures to ensure the quality of goods is not damaged by the transportation process
Article 3: My ultimate goal is to improve the business performance of the market by expanding its market share in Vietnam At present, the market is facing fierce competition with other importers in Vietnam such as Le May,Soc & brother, etc In the long run, many other import-export companies would like to take this market share Nhat Phuong need to improve the quality of personnel, proposed to expand its own marketing department to ensure the market share, to increase competition for companies in the market The current business trend is both wholesale and retail, in addition to importing them also open the official dealer ,showroom to the goods to the consumer I made a suggestion to the management of the company to open a
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14 showroom in Hanoi as an initial step in introducing the products of the market Broadcasters will be able to advertise their product so that customers can know about this new branch Retail market is a fertile land, Nhat Phuong should not be overlooked
Developing the orientation of developing the chain of stores to ensure the price competitiveness by itself as an importer with diversified products Provide customers with good products at reasonable prices
Theoretical knowledge acquired that I can put into practice during my internship
After spending a long time in this MBA course, I learned a lot about different fields I applied it in practice during my three-month internship at Nhat Phuong company Here are some subjects that I have applied:
The course provides me with the knowledge, the importance of a global strategy When applied in practice I realized its impact on a company's business The company uses its strategy as well as its network as a lever for business Nowadays business is everywhere with various payment methods
This is a really useful subject because during the internship I have to participate in negotiating contracts, thanks to the knowledge gained from the course I can use in a flexible and effective way Important elements of the contract, terms in the international contract, legal influence I was able to draft an international commercial contract
For an import-export company like this one, this is a much more interesting subject The subject gives me an overview of maintaining and expanding the development of domestic and international distribution systems Introduce the appropriate distribution methods for the company to build its direction in expanding its business in the short term: Multi-channel distribution
Analyze the appropriate channels, trends of current distribution as well as future trends: Omni channel
This is a really interesting subject Professor has provides differentiation highlighting cultural communication in several countries: Japan, Korea,Thailand, American, Arabic and so on For Oriental Market company mainly in Japan, the study of culture gave me a special look Gives many other insights into the process of cooperation
It's no better than working with a country that understands their culture The course provides me with a series of negotiation scenarios for dealing with emerging issues
Here is my first subject, a really new subject Here I am able to grasp the elements of a company entering the international market Economic models, SWOT analysis This is a discipline suited to a company like the lucrative The course provides business strategies for an import / export company
This is one of my last courses at this MBA It was really fascinating, the professor gave me lots of practical examples How to set up a plan for the company Actually it is very useful for my Internship I was able to use my strengths to make suggestions to improve the company's business performance For a growing company like Nhat Phuong company, strategic planning is vital The difference in direction creates a good strategy in business
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Development
Assessing Self
This is a step to assess yourself comprehensively about the knowledge I learned from the training program at Thang Long University, flexibility, harmony and teamwork skills During my internship, self-assessments helped me measure the quality and growth of my business as well as evaluate my actual performance on the business model and strategy of the company, My own contribution to the current workflow
This is done through internal meetings, including discussions with my supervisor in Nhat Phuong company and peer evaluation in the team to perform performance assessments Monthly meetings or extraordinary meetings at this event not only help managers have a clearer view of the company's growth but also connect people to make sure it helps everyone share difficulties, solve problems, and let people evaluate themselves and their colleagues to improve productivity
I evaluate my performance as follows:
- Complete all market research, competitor research assigned by my supervisor during the internship;
- Good implementation of customs procedures, animal testing procedures, certification of the Department of Animal Health;
- No errors in stored procedures, transportation from port to warehouse
- Completed the calculation of the price for warehousing, for customs clearance, the transport price of the three lines of Hai Phong - Hanoi, Hanoi; Hanoi - Ho Chi Minh City
- Participate in small business meetings, small training courses of the import / export department
- Provide some assessment to improve work efficiency
- There are a number of suggestions proposed by MB and may be implemented in the future: proposed storage reform, unreasonable transportation
Stage II: Explore the options
During my stay at Nhat Phuong, I learned to explore different ways to get things done
For example, when my supervisor asked me to make a report on the market for Milk Formula in Vietnam, I recognizing that the Vietnamese dairy market can be viewed in two ways,
- A view of the food industry
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For the macroeconomic perspective I have to do analysis of economics, politics, society and technology However, in this case I think it would be too general and not practical Therefore, I rely on the view of the food industry to consider making analyzes of the Vietnamese dairy market The view of the industry come up with Porter's Five Forces model.
Phase III: Developing skills
During my internship at Nhat Phuong, I have developed analytical skills in market analysis
When in charge of the department asked me to make a judgment on the current Vietnamese dairy market, I proposed the use of Porter's Five Forces model with five specific elements:Competitive Rivalry,Supplier Power,Buyer Power,Threat of Substitution, Threat of New Entry I have a detailed report on this issue
In 2017, Vietnam imported about 223.2 thousand tons of milk powder, 1.73 times as much milk powder produced in the country
The powdered milk market in Vietnam is competing extremely fiercely with the presence of more than 300 brands
The Ministry of Finance has announced that tariff lines will be reduced in 2018 as committed within the framework of the 10 signed FTAs In particular, in the period from 2018-
2022 many tariff lines will be imported 0% According to the Decree promulgating the Vietnam-
EU EEA (VN-EAEU FTA), by 2018, 5,535 tariff lines will be cut to 0% and 2017 will have 3,720 tariff lines going to zero % including milk and dairy products
Therefore, companies importing milk from the domestic market are facing many disadvantages, on the one hand must compete fiercely for the companies in the country are currently investing in products as well as market share Vinamilk and Nutifood also have to compete with big companies such as Abbott, Mead Johnson, Dutch Lady (Freisland Campina), Dumex and Nestle Domestic market accounts for about 30%, with an average turnover of 3,000-4,000 billion VND / year Mead Johnson's market share in Vietnam fluctuates around 14.4% In addition, the source of goods coming from ASEAN countries due to the import duty of milk has been 0% in 2018
In addition, domestic dairies are facing fierce competition from same products for the Vietnamese market, which are distributed directly in Vietnam at very competitive prices Products imported and distributed by Song Than Corporation
Government creates barriers The main role of government in the market is to maintain fair and healthy competition through antitrust action However, the government still restricts
ICD TAN CANG SONG THAN
FRIESLAND CAMPINA VN NESTLE VN
TOP 10 IMPORTERS OF MILK POWDER IN 2017
Import Value: Thousand USD Rate of Quantity (%)
THE HE MOI QUOC TE
TRUNG NGUYEN HOANG LAM THONG
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20 competition by adopting monopolies and issuing regulations Currently, the import tax rate of milk in Vietnam is the highest in the region, namely the import tax on powdered milk of Singapore 0%, Indonesia and Thailand 5%, while Ireland's Similac milk for Young children or Ensure of the United States for the elderly and patients into Vietnam are subject to a tax rate of 10% This creates a big barrier for new entrants However, Nhat Phuong has a great deal of support from the Japanese company with its extensive distribution network, as well as extensive experience in the field of advertising and marketing to gain market share Direct competition with existing businesses
The threat of alternative products is defined as the average impact on the Vietnamese dairy industry In the current context, the product that directly affects formula milk is fresh milk
Currently fresh and formula milk are sharing the market share of 30% and 70%
According to the Vietnam Dairy Association, on the market, fresh milk only meets nearly half the market demand Demand for fresh milk is expected to increase sharply as the average milk consumption in Vietnam is just over 17 liters / person / year, much lower than Thailand (35 liters / person / year), Singapore (45 liter / person / year) Thus, raw milk material will be the fulcrum for the competitive strategy in this segment Nowadays, fresh milk products are very diversified with high nutrient content, directly competitive products for formula milk However, the target of Nhat Phuong company is the formula milk products for children from 0-36 months, as well as products for the elderly in the future, in this segment as recommended by the expert
"Milk for 1 year if fresh milk is the latest milk, the longer it is used, the better." Most fresh milk has a shelf life of 1-2 days and stored in a cooler Freshly pasteurized and pasteurized milk is packed in bags and boxes in accordance with modern technological processes with longer shelf life, but in general, the preservation and use of fresh milk is a matter of concern special note
Long-formulated milk, canned in accordance with modern technology should ensure hygiene Momma is also easier to preserve, with less to worry about contaminated milk, overdosed milk
Powdered milk also has the advantage of a rich nutritional content and the addition of particularly nutritious nutrients such as DHA, lutein, choline, digestive fiber, probiotics, iron "
For older people, formula milk is being studied to supplement the deficiencies, which fresh milk can not It is this that makes formula milk a dominant, difficult to compete and replace
Supplier negotiating power is considered medium in the dairy sector
Suppliers in the dairy sector are direct suppliers of goods, warehousing and shipping companies This directly affects the price of products supplied in the Vietnamese market
For a company to import exchange rate fluctuations is considered to be the biggest impact on trading activities in Vietnam This factor is very important for the appreciation or depreciation of the VND against other foreign countries
Currency will affect the revenue of import companies
These authors point out the depreciation of the VND against the JPY, which leads to Lower turnover of exporters
The uneven rise of the Japanese yen has a direct impact on Nhat Phuong's product prices in the market, while transport and storage services also have a great impact on the construction and image, make a reasonable price Delays in transportation can have serious consequences, so these providers also play a key role, but at present due to the development of the economy, there are many units This is the reason why negotiation in favor of importers is easier
The bargaining power of buyers is determined to be high as there are many dairy products distributed by different companies in Vietnam both at home and abroad Consequently, customers have the choice of choosing the products they like Only for infant formula products are Meiji, Morinaga, Glico, nutifood, XO, NAN, with very competitive prices In addition, for a market that consumers buy with the belief in Vietnam, this power is becoming more important In fact, there are many cases where the product is preferred However, some problems were immediately boycotted and it was not long before they could return to the market For example: Anco's milk product, Hanoi Milk was revoked and it was not sold on the shelves, suspected to have psychological insecurity of consumers make dairy products at the same time difficult
Contamination of Similac and Karicare milk caused consumers to panic, which prompted stores to remove and recall products.
Phase IV: Marketing self
Based on the knowledge gained from the course, the internship process at Nhat Phuong, I prepared a plan based on the SWOT matrix to help the company improve quality, improve efficiency and expand Market share in Vietnam Below is a detailed plan
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Table 3: SWOT matrix for business strategy of Nhat Phuong
- Nhat Phuong has a large company in Japan, has long experience in developing dairy market in Japan, Singapore
-Staff are trained professionally, often have training to improve knowledge
- Currently cooperating with supermarket, baby and mom system in Vietnam as Kid Plaza, baby shop,
- Products are imported directly from the Japanese domestic market with outstanding advantages
- The products are quality-tested by the competent authority, labeled with distinction as compared to floating goods
- Newly established company is not popular
- Goods are sometimes unstable due to government policies
- The products are not diversified
- There is no separate transport system depending on other transportation services
- There is no dealer system
- The number of employees is low, lack of replacement, support in case of unexpected incident
-Cooperate with Japanese partners to apply the latest technology and scientific achievements to improve the quality of products
-Product diversification, expanding the customer segment
-Minimize service costs to optimize prices for increased competitiveness strategy -Improve the quality of service, customer care, open 24/7 call center, organize customer gratitude programs -Improve the quality of management at the department
-Strengthening marketing activities to promote the brand
- Frequently research and collect opinions of consumers to gain market share -Improve transport quality to ensure the transportation of goods
- Good relations between Japan and Vietnam make the products widely advertised
- The company distributes dairy products from Japan, the quality has been confirmed, there is a
-Direct competition comes from companies distributing similar products in the market such as Soc & Brother, Le May
- Cargoes are mainly transported by sea, which may be damage
1/2018 Vietnam increased import of milk from the
Japanese market, although turnover reached only 5.6 million USD but increased sharply 69.03% compared with the first quarter of 2017, this shows a high consumption of milk from this market
-The dairy industry in Vietnam is very attractive with potential, with a market of over 90 million people and a high population growth rate of 1.2% per year and deformation during transportation
-Special goods, customs clearance procedures take a long time, leading to loss of competitiveness,
-Dairy products are increasingly diversified from different countries
- The import duty on milk from the Asean market to 0% in 2018 creates competitive price pressures
- Open showroom -Strengthen the expansion of cooperation, targeting retail units in the provincial market -Recruiting, training more staff, decentralization to meet the needs of work to avoid waste, overload
(Source: Plan built by the author )
In addition, the problem comes from the coordination between the parts of the company to the purchase For example, an order placed by the import-export department takes about six days to be delivered
The general accounting department needs two days to evaluate the partner analysis,
After submitting to the CEO for approval, the accounting department will need one day to process the delivery slip into the warehouse It takes one more day for the warehouse to check and compare the requirements before delivering to customers Rotation of documents takes about a day through the above departments In all papers, the delivery note must be signed by the head of the import-export department, chief accountant, director, Added signature of head of warehouse The director may refuse or accept a purchase transaction, but delays may occasionally occur due to the absence of one of the components or the principal, resulting in delays in the delivery process
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Phase V: Performing and planning next steps
After identifying career development plans and skills that I would like to further develop, the final stage is to develop skills to make effective career decisions In addition, through the internship at Nhat Phuong, I can see that critical decision making can improve the company's productivity in the most effective way Based on the process, the import / export department should be given the initiative to analyze the customer's assessment in order to reduce the maximum time, meetings or exchanges can be done via email in order to save time Departments should have more close links For example, in the event of an incident, departmental coordination will bring more efficiency in processing This helps us to improve our problem solving methods
Conclusion
Achievement of the Internship
This Internship gave me more practical work experience than I expected in an area where
I had not had much time to participate At Nhat Phuong I learned from simple tasks that can basically be applied to any work or other work environment I have been handling a shipment and all the work involved in the process such as the implementation of international contracts, contact and shipping arrangements, preparation of documents for receipt of goods, paperwork to clear procedures have been working with the accreditation bodies The three months of practice have passed and I am completing the internship program which has gained great success from my perception, from the supervisor's instructions I have performed specific tasks and achieved specific goals First, I collected data on the business environment, secondly I conducted market research, SWOT analysis not only towards new opportunities of the company but also pointed out the challenges that we can encountered I also determined the competitive advantages that Nhat Phuong owns to win the competitive edge, identify the main rival company Always ask questions such as how Nhat Phuong has been and will outperform our competitors, what our competitors can do better even if Nhat Phuong is exploiting most of the opportunities available or how the company should respond to changes in the external environment Practice is required to make significant contributions to the import process and to the import-export department in particular and to the long-term projects of the company With guidance on how to perform internal and external factors analysis, what should we consider when looking at customer surveys, I do data mining and analysis, in-depth reporting My supervisor was really interested and the company is starting to plan on my reports and hope it can succeed.
Shortcomings of the Internship
The major shortcoming of the internship process is the application of knowledge gained from the master course into practice In short, Trainees can not cover all the problems as well as provide more solutions for the company
Action plans for the company
On the big issue in the cooperation between the internal teams in the procurement
In the process, I make some short-term and long-term initiatives to improve quality
Coordination between departments during the procurement process
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The shopping process in Nhat Phuong has four main steps to ensure the safety and reliability of the purchase So we can not increase the efficiency of our procurement by eliminating one of the four steps, but we can shorten the implementation time at each step and improve efficiency by redistributing the work Below I offer a short-term initiative to increase efficiency during the procurement process
Table 4: Short term action plan
Select suppliers by appraising, quantifying, evaluating
- Make a regular and reliable supplier list Sub-casual supplier Regular market surveys, support services Establish supplier rankings to give priority order in trading, payment
-Build strong relationships with suppliers
Check the proposal from the import and export department Documentation for CEO approval
-Create transactions, make sales records, submit to CEO and continuously connected to the import / export department to complete the dossier, grasp the needs of internal as well as external
- Developing a reward mechanism for fast and prestigious transaction units
Prepare the backup plan for the CEO to ensure the work in case of absence
Actual collaterals, requests from departments, CEO to make shipments
This step is not complicate, so it just needs 1/2 day
To avoid system problems such as: Director deny oraccept buy-sell offer In order to be approved by the director at the start of the buy and sell order, details must be included in the detailed evaluation report of the relevant department, signature of the department head, price list, technical specifications, and volume purchase goods
To avoid problems such as: Director absent, business trip and work stalled The company should list the potential problems and resolve the problem
Example: If the Director is absent, he can authorize the subordinate to sign the final document for traditional contracts For electronic transactions, directors can use electronic signatures, transactions can be made remotely In addition, the responsible department should pay attention to the needs and activities of each other to enhance coordination Business activities must be evaluated in a specific way, in terms of responsibility and effectiveness, so that coordination between departments
Nhat Phuong Company may apply some techniques and management tools to operate improved coordination between internal departments during the procurement process I propose some long-term planning are as follows:
Add additional departments, add deputy manager to ensure continuity of work in case CEO is absent, decentralized management
- Make Forecasts to integrate planning and procurement needs, supply chain operations
- Regular training and workshops to improve the knowledge and skills of employees in the workplace, creating close coordination among departments in the company
- The CEO should add internal policies such as the issuance of codes of conduct, corporate culture, work procedures should be revised in detail to ensure proper running of the department
A standard system performs its job
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Conclusion
The internship experience at Nhat Phuong gives me tremendous experiences I have the wonderful opportunity to apply the knowledge gained in the AMI course at Thang Long School in practice During this time I can develop more skills Over this time I have a more in-depth insight and perspective in marketing research, in executive management Team meetings, ad-hoc meetings, regular workshops and trips helped my skills to be improved In addition to the requirements of the job, I had to build a regular, detailed plan that would make me more organized Regular contact with customers and partners gives me the opportunity to improve my communication skills, expand relationships Last but not least is what I learned from the company supervisor, from experienced, open colleagues They are dedicated to giving me a motivation, a source of inspiration in this new work and environment All the benefits I gained during the internship will definitely help me a lot in my career from now on I believe that Nhat Phuong will soon achieve its goals and become more and more successful in business
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Table 2: My assigned tasks in NHAT PHUONG………11
Table 3: SWOT matrix for business strategy of Nhat Phuong………22
Table 4: Short term action plan……… 26
Figure 1: Nhat Phuong’s Organizational Chart 7 Figure 2: My development model……….16 Figure 3: Top 10 importers of milk powder in 2017……… ………… 19
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