Name of Student: Ramiz Amin (2008-1-87-8979)

Name of the Company:Duration: From 2nd September, 2013 to 11th October, 2013

Report based on THEORIES LEARNED AND THEIR APPLICATION INCLUDING FINANCE/ACCOUNTING DEPARTMENT

Supervisor’s Name Muhammad Tehreem Alam

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Table of ContentsINTRODUCTION.........................................................2OVERVIEW OF THE INDUSTRY.............................................2Economy Contribution and Challenges..................................2Challenges...........................................................2DEALING PARTNERS:....................................................2HIERARCHY OF THE COMPANY:............................................2INFRASTRUCTURE.......................................................2PHYSICAL (In Accordance With Care & Cure Marketing Services).........21. Office..........................................................22. Warehouse.......................................................2(i) Cold Chain Facility.............................................23. Logistics.......................................................2(i) Delivery Van....................................................2(ii) Delivery Staff.................................................2NON PHYSICAL........................................................2

1. Information Management System.....................................2(i) Faster functionality............................................2(ii) Paperless environment..........................................2(iii)......................................Verifiability and Validity

2(iv) Faster information sharing.....................................2

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(v) Networking.....................................................2(vi) Ergonomics.....................................................2

INTRODUCTION OF ALL DEPARTMENTS......................................21. Marketing Department............................................22. Accounts and Finance Department.................................23. Sales Department................................................24. Human Resource Department.......................................2

ACCOUNTS DEPARTMENT..................................................2(i) Preparation of Vouchers.........................................2(a) Cash receipt voucher...........................................2(b) Cash Payment Vouchers..........................................2(c) Journal Voucher................................................2Distribution Lists:.................................................2

SWOT ANALYSIS OF THE COMPANY.........................................2Strengths...........................................................2Weaknesses..........................................................2Opportunities.......................................................2Threats.............................................................2

ACHIEVEMENTS AND HONORS..............................................2Legitimacy of Acts..................................................2Service Quality Award Certificate...................................2Consistent Liquidity Position.......................................2

TECHNICAL SPECIFICATIONS.............................................2Membership...........................................................2Bank................................................................2Advisors............................................................2Registration........................................................2

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EXECUTIVE SUMMARY

This is an internship report regarding the introduction of

the Organization Care and Cure Marketing Services. I

described in this report about introduction and my learning

during my training program in this company as how

administrative and other operative activities are carried

out.

I started the report with the introduction of the

organization. I mentioned the work I performed in the

finance department and how the vouchers are prepared. I also

provided the TECHNICAL SPECIFICATIONS of the company which

are an important element of the company.

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In the end I had briefly evaluated the Organization about my

learning and working in the organization. I had given a

conclusion along with some Recommendations for the

organization.

INTRODUCTION

Care and Cure Marketing Services was established by Mr.

Muhammad Zaheer Alam in 1990. The firm initially focused on

marketing of Pharmaceutical Products of E.I.P.I.C.O. (Egypt

and Guardian Pharmaceuticals Pakistan (Pvt.) Ltd.) along

with institutional supplies and tender business of Pharma

Products and other allied items

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At present Care and Cure Marketing Services is the

associated distributor partner of distinguished multi-

national and national pharma companies, like Roche Pakistan

Ltd, Servier Research and Pharmaceuticals [Pakistan] (Pvt.)

Limited, Novartis Pharma Pakistan Ltd., P.D.H.

Pharmaceuticals and Labs (Pvt.) Ltd. It is also associated

with R.G. Pharmaceutica (Pvt.) Ltd. an importer of quality

products from Switzerland and Korea for dialysis patients.

Care and Cure M.S. also has the honor to be associated

distributor partner with some other pharmaceutical companies

until their takeover/merger, mainly:

Roche Pharmaceutical

Sanofi-Aventis Pharmaceutical

Wyeth Pharmaceutical

Beecham Pharmaceutical

Pharmacia & Upjohn

Their professional experience includes working with

GlaxoSmithKline Pakistan Ltd. and Barrett Hodgson Pakistan

(Pvt) Ltd.

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OVERVIEW OF THE INDUSTRY

Pakistan has a very vibrant and forward looking pharma

industry. At the time of independence in 1947, there was

hardly any pharma industry in the country. Today Pakistan

has about 400 pharmaceutical manufacturing units including

those operated by 25 multinationals present in the country.

The Pakistan pharmaceutical industry meets around 70 per

cent of the country's demand. The domestic pharma market, in

terms of market share is almost evenly divided between the

national companies and multinationals. The industry provides

direct employment to over 70,000 and indirect employment to

around 150,000 across the country.

National pharma industry has shown a progressive growth over

the years, particularly over the last one decade. The

industry has invested substantially to upgrade itself in the

last few years and today the majority industry is following

Good Manufacturing Practices (GMP), in accordance with the

domestic as well as international guidance. Currently the

industry has the capacity to manufacture a variety of

products ranging from simple pills to sophisticated biotech,

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Although Pakistan's pharmaceutical and healthcare sectors

are expanding and evolving rapidly, about half the

population has no access to modern medicines. Clearly this

presents an opportunity, but much more work needs to be done

by the government and industry stakeholders. The value of

pharmaceuticals sold in 2007 exceeded $1.4 billion, which

equates to per capita consumption of less than $10 per year

and value of medicines sold is expected to exceed $2.3

billion by 2012.

Pakistan is a developing pharmaceutical market, with a large

population and economic progress evident, but per capita

drug spending was rather low at around $9.30 in 2007.

Private spending accounts for 65 per cent of total

healthcare expenditure sourced through out-of-pocket

payments, international aid and religious or charitable

institutions. Pharmaceutical spending accounts for less than

1 per cent of the country's GDP, comparable to levels in

some neighbouring countries. The forecast period is likely

to witness the marginal strengthening of the generics

sector, albeit more in terms of volumes than values. The

share of generics is also likely to increase further as

major drugs come off the patent in the near term, to the

likely benefit of the generics-dominated local industry.

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The Pakistan pharma industry is relatively young in the

international markets with an export turnover of over $100

million as of 2007. Pakistan Pharma Industry boasts of

quality producers and many units are approved by regulatory

authorities all over the world. Like domestic market the

sales in international market have gone almost double during

last five years. The pharma industry is focusing an Export

Vision of $500 million by 2013. In the meantime, exports are

also likely to boost due to new regional and global

opportunities.

The Pakistan Pharmaceutical Industry is a success story,

providing high quality essential drugs at affordable prices

to Millions. Technologically, strong and self-reliant

national pharmaceutical industry is not only playing a key

role in promoting and sustaining development in the vital

field of medicine within the country, but is also well set

to take on the international markets.

The country's pharmaceutical exports were $101 million in

2006-07 and growing at an annual rate of 22 per cent. In

2005-06 exports hit the mark of $83 million. Export target

for FY2008 had been projected at $125 million.

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On the other side of the border, Indian pharmaceutical

exports stand at $6 billion, growing at a pace of 20 per

cent. Country's spending on health as percentage of GDP was

only 0.8 per cent as compared 5-6 per cent in Sri Lanka, 3-4

per cent in Bangladesh, 6-7 per cent in Algeria, 5-7 per

cent in Mexico, 6-9 per cent in Iran and 10-15 per cent in

Costa Rica and Cuba.

Economy Contribution and Challenges

Being one of the major indicators of economy, pharma

industry has contributed positively so far and has somehow

managed to increase production by a meager 1 per cent.

Similarly industry contribution and weightage surged to 6.7

per cent in total Large Scale Manufacturing (LSM) production

during 1QFY09.

On the other hand, LSM posted 6.20 per cent negative growth

in 1QFY09 over the corresponding period of previous year

mainly due to deteriorating economic of the country.

Challenges

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The fast-deteriorating business environment especially for

the pharmaceutical companies in the wake of high cost of

production has been burdening the local pharma sector.

Also, the cap on drug price by the government for the last

seven years has aggravated the situation further. Last price

increase, which was of 3 to 4 per cent, was allowed by

Ministry of Health in December 2001.

The prices of the Active Pharmaceutical Ingredients (APIs)

used for the manufacturing of drugs as well as of other raw

materials like paper, plastic, glass, rubber, etc. have

increased manifold since 2001. The cost of oil, gas,

electricity, transportation and labour has also spiked

dramatically during this period.

DEALING PARTNERS:

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Below are the mentioned dealing partners of Care and Cure Marketing Services. They basically deal with the following

pharmaceutical companies which are commonly very much

popular nowadays. Such partners are basically from the most

commonly and renowned pharmaceutical, health, home, hygiene

producers which are considered as one of the leading care

and cure units in terms of medications and hygiene products

for their quick and effective solutions for health problems

and other hygiene related issues. Therefore, it must be said

that though there is not a big name of Care and Cure, but

somehow it has managed to achieve success whenever it comes

to be known as Importers, Exporters, Distributors and

Manufacturers Representatives. Pharmaceutical Companies

like Reckitt Benckiser and Getz Pharma have been a great

partner to Care and Cure for the sake of loyalty to each

other in terms of agreement and distribution. Apart from

that Novartis Pharma has been of great importance to Care

and Cure in building its foundation as the name of Care and

Cure which is known to people nowadays is due to the curing

items of Novartis Pharma which has produced great intensive

cure items and high quality medicines. One must give credit

to this particular company as well.

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HIERARCHY OF THE COMPANY:

A hierarchical organization is an organizational

structure where every entity in the organization, except

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one, is subordinate to a single other entity. This

arrangement is a form of a hierarchy. In an organization,

the hierarchy usually consists of a singular/group of power

at the top with subsequent levels of power beneath them.

This is the dominant mode of organization among large

organizations; most corporations, governments, and organized

religions are hierarchical organizations with different

levels of management, power or authority. For example, the

broad, top-level overview of the general organization of

the Catholic Church consists of the Pope, then

the Cardinals, then the Archbishops, and so on.

Members of hierarchical organizational structures chiefly

communicate with their immediate superior and with their

immediate subordinates. Structuring organizations in this

way is useful partly because it can reduce the communication

overhead by limiting information flow; this is also its

major limitation.

In any particular company, a management hierarchy is very

essential because with the help of a well drafted hierarchy

of workforce, it is being possible to effectively evaluate

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the company strategies, plan the actions to be taken in

order to reach the business goals and to divide the

organizational functions among the workforce effectively. In

general, most of the middle scale and the top scale

companies are comprised of three broad levels of hierarchy

known as the first-line management, middle management and

the top management. To emerge as a successful organization,

there should be a good coordination between all the above

levels of management. In this particular article, we will

discuss in details about the various job positions that are

in line, in the company management hierarchy:

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As it is clear from the above organizational chart, Mr.

Zaheer Alam CEO, is in charge of the total management of

this organization. Two managers are under him who are known

as Admin Manager and Sales Manager. As clearly visible, Mr.

Takreem Alam is the Admin Manager who assign

responsibilities to administrative staff and ensure the

facilities are equipped with the supplies and services

needed. His work encompasses a variety of responsibilities

to ensure a business runs smoothly and accomplishes its

goals on a daily basis. Whereas, Mr. Saeed Zakai is the

Sales Manager, who is responsible for meeting the sales

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targets of the organization through effective planning and

budgeting. Two responsibilities are under the Admin Manager

named as Chief Accountant Mr. N.M. Kamdar and Distribution

Manager Mr. Masood Shaikh. Mr. N.M Kamdar is responsible for

supervising all accounting entries, payments and receivables

so that they are posted correctly and timely. And, Mr.

Masood Shaikh also called a logistics manager ensures that

the right products are delivered to the right place on time

and in the most cost-efficient way possible. A distribution

manager might work for a manufacturer, a retailer, or a

third-party supplier of distribution services. The role is

becoming increasingly important with the growth of e-

commerce. Mr. N.M. Kamdar has the control on Accounts

Officer named as, Mr. Shakeel Siddique who is responsible to

look after the financial part of Care and

Cure. He is also given the responsibility of financial

planning and record keeping of all the account. He is

responsible to forward the records and other desirable

financial activities to his supervisor/Chief Accountant. The

Field Officer and Sales Officer has the responsibility to

assign the areas and territories to salesmen to sell the

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targeted items and meet the company objectives in accordance

with the Sales Department.

INFRASTRUCTURE

Infrastructure is basic physical

and organizational structures needed for the operation of

a society or enterprise, or the services and facilities

necessary for an economy to function. It can be generally

defined as the set of interconnected structural elements

that provide framework supporting an entire structure of

development. It is an important term for judging a country

or region's development.

PHYSICAL (In Accordance With Care & Cure

Marketing Services)

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1. Office

The location of operation acts as

the center for close coordination

and control. Warehouse is also

just adjacent to provide a close

loop for delivery and receiving activity added with real-

time coordination with the per-minute sales and inventory

levels. The structure of the workings is such to facilitate

working boosting processes eventually leading to increased

productivity and quality services. Their executives and

staff members are well aware and trained for safety

regulations, Standard Operating Protocols, Interests of

associated firms and possess high level of computer

literacy. Their systems are updated semi-annually and

protected against any shortfalls and virus intrusions

allowing us to stay competitive and meet customers need

forefront.

2. Warehouse

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Warehouse’s central location allows us to act as a hub for

all companies and institutions resulting in reduced delivery

times and cost savings. Store is modern and well equipped

supporting the range of products from inhalers to ampules,

syrups to capsules/tablets and surgical tapes to drips to

ensure products are provided a safe, cool & hygienic

environment.

(i) Cold Chain Facility

The facility is also fully functional

to stock temperature sensitive

products, such as Insulin and

Vaccines. Products are protected from

extreme conditions, ensuring medium

to cold temperatures ranging from normal room temperature to

-8 degree centigrade through thermometers and gauges that

help us to comply with GWP/GDP, HSE and Regulatory needs.

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3. Logistics

(i) Delivery Van

Their complete logistical facilities

comprising of specialized Suzuki Cargo

Vans allow them to deliver almost any

product in strict legal code, safety

and quality by avoiding overloading or

improper protection. The vans deliver high density products

such as drips to low density products such as ampules.

(ii) Delivery Staff

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With an average professional experience of more than 15

years their drivers are safety trained to deliver the

product in the right shape and condition, necessary due to

unstable external environment and lack of proper

infrastructure that might affect the quality of the product.

NON PHYSICAL

1. Information Management System

Care and Cure Marketing Services uses top of the line

accounting systems built on most preferred programming

software. This has led to:

(i) Faster functionality

Reduction in redundancy in manual entry allows better and

speedy processing. It also allows comparison with different

variables.22 | P a g e

(ii) Paperless environment

Care and Cure is an environmental friendly organization and

strives to conserve energy. Online data results in report

viewing, order processing and invoicing in a paperless

environment.

(iii) Verifiability and Validity

The system is highly secured, protected and operational,

that detects even the slightest of variations between stock

and sales etc. or in case of any manipulations. It further

pops up an information error where the data is not relevant

or invalid, thus reducing the margin of systematic error to

almost 0%.

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(iv) Faster information sharing

The sales report, order and invoices now can be generated

online and shared with their business partners via web. This

allows shorter processing time and reduced costs.

(v) Networking

Care and Cure is equipped with state of the art networking

and computing systems allowing data sharing and integration.

In addition, the network has the ability to stay connected

to our external suppliers via internet 24/7.

(vi) Ergonomics

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At Care and Cure environmental work conditions that affect

risk including intensity, frequency and duration of

activities are heavily monitored and effective measures are

taken to ensure avoidance of illness and injury risks, and

increased satisfaction among the workforce, for e.g. Seating

& spacing, air conditioning and health & food.

INTRODUCTION OF ALL DEPARTMENTS

1. Marketing Department

The organization has not a wide open marketing department.

It distributes and promotes the medicine in the hospitals

like Zia Uddin Hospital, Market, Wholesalers and Retailers

in the market.

2. Accounts and Finance Department

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The Finance Department of the organization manages the

financing needs of the company. The Department truly

organizes the accounts and financing needs of the company.

The Department manages the cash and the other operations of

credit of the company.

3. Sales Department

The Sales Department plays a vital role in the success of

organization. The sales manager professionally manages the

department under him and explicitly instructs the personnel

regarding the territory and field sales. And, they give a

good and sound training to the employees who are genuinely

interested in the meeting the sales need of the department

for the effective success of organization.

P.S The Sales Department and the Marketing Department are

combined to form one single Department. The categories of

personnel are Sale Manager, Field Manager, Senior Sales

Officer and Junior Sales Officer and rest of the team is

included in the category of Salesmen.

4. Human Resource Department

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The Human Resource Department plays a pivotal role in

creating effective employment for the organization by hiring

and firing. And more than that, it also develops Human

Resource Development Planning reports to expand human

capital both for the organization and individual employees

itself.

ACCOUNTS DEPARTMENT

Following is the learning of valuable work by me in the

department. However, I had some knowledge of the other

departments as well in accordance with the theories learned

during my BBA (H).

(i) Preparation of Vouchers

The different types of vouchers are managed by the

supervisor of Department who is also the manager of

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Department named as Shakil Siddique. Different types of

vouchers are as follows:

(a) Cash receipt voucher

It is managed when the amount is received on the behalf of

Care and Cure Company. However, most of the vouchers are

maintained by the banks. The Accounts Officer prepare these

vouchers in accordance with the cash receipt managed and

prepared by the cashier. When these accounts are maintained,

these main accounting entries are passed which is normally

the responsibility of every Accounts department.

Dr. Cr.

1. Account Code Cash

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Income Receivable or A/C Receivable

2. Account Code Bank Account

Cheque Clearing Account

(b) Cash Payment Vouchers

Such vouchers are maintained and prepared when cash payments

are made against the expenses incurred by the company like

medicines purchased by the companies. Below is the

accounting entry which usually undergoes when the cash

payment voucher is prepared by the cashier and supervised by

the manager.

Expense Dr.

Cash Cr.

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(c) Journal Voucher

Such vouchers are prepared and maintained when the expenses

and income are undertaken like Purchase on credit, Written

off Depreciation, Rectification of mistakes or omission.

These are overviewed by the department.

Distribution Lists:

This department also manages the distribution list in which

the payment to be received from the customers is listed

which is a complete coordination with the Sales Department.

Managing Of Registers:

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Mostly registers are managed through the manual work of the

accounts department. Name of the vouchers and vouchers

account are managed.

These are the activities carried out in the Accounts and

Finance Department which were carried out during my

internship period and the above information is in accordance

to my knowledge. There might be more considerate information

but whatever I attained from my learning, it is mentioned

above. However, I used to take vouchers from the cashier and

forward it to the supervisor for further supervision. More

than that, the copied cheques whose payment was to be made

on that date were also maintained. I maintained the vouchers

which were received by the marketing/sales Department. These

vouchers are maintained and posted in their relevant

accounts of the tab in the computer system. The ledger is

daily managed because there is need of automatic system

which daily uploaded the relevant information in their

relevant accounts.

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SWOT ANALYSIS OF THE COMPANY

However, it took a lot of time for creating a SWOT analysis

for the company since I had to communicate with a lot of

members of the company to provide me adequate information

for that.

Strengths

1. Moral Marketing Approach (Ethical Marketing)

2. Effective Human Resource Department and Planning

3. Good planning for selecting Manufacturers

Representatives

Weaknesses

1. Not Well Defined Organization Hierarchy

2. No strong Marketing Department including R & D

Department

Opportunities

1. High concentration on new accounts

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2. Increased demands for branded medications

3. Increase in health conscious consumers

Threats

1. Increase in Competitors

2. Unethical Practices from Competitors

3. Government policies for high price products

ACHIEVEMENTS AND HONORS

Legitimacy of Acts

Since establishment Care and Cure has never been involved in

doubtful acts to gain undue profit. Their customers’

reputation is never at stake and under no circumstances they

have to worry about suspicious acts

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Service Quality Award Certificate

They are proud to be awarded with service quality rating

above average more than 75 rating points in terms of

quality, service, credit etc. consistently by a leading

institution Aga Khan University Hospital

Consistent Liquidity Position

Their affiliated bank i.e. National Bank of Pakistan

(Passport Office Branch) which has been their partner since

start assures our track record that we have never been in a

state of financial bankruptcy.

TECHNICAL SPECIFICATIONS

Membership

1. 22613 - Chamber of Commerce & Industry

2. A378863 - Pakistan Chemists & Druggists Association

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Drug Wholesale License

Ltr.No. EDOH – CDGK (DRUG)/-1907

License No. 2259 dated 30/12/2012

Valid up to 05/12/2014

Bank

1. National Bank of Pakistan

2. Habib Bank Limited

Advisors

1. Income Tax & Legal Rehan Naqvi Associates

2. Sales Tax Qaiser MuftiAssociates

3. Auditor Ahmed Associates

4. Accounts Noor MuhammadKamdar

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AfzalSiddiqui

Registration

Care & Cure Marketing Services is registered with all the

Government, Semi Govt., City District Government and Private

Hospitals/ Institutions where registration is pre-requisite

CONCLUSION AND RECOMMENDATIONS

Firstly, I would recommend that there should be a marketing

department which can be well established to market the

medicines and other home care products as it will help Care

& Cure in setting its foundation in today’s competitive

world and create immediate results for the company.

Secondly, the human resource department should be made more

strong which can be able to:

1. Prepare Recruitment policy and procedure

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2. Review Organizational structure

3. Prepare Job descriptions

4. Maintain and Develop Employee personal files

On the other hand, there should be a multimedia department

which can help in creating and designing a Webpage for Care

& Cure Marketing Services as there is no particular webpage

for it.

To sum up, Care & Cure Marketing Services is a well reputed

distribution partner of multinational and national

pharmaceutical companies.

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