Internship report on the procurement process of united groups ‘IPCO Development & Hotels Limited

Abstract

United Group is one of the most recognized business houses of the nation. IPCO Development and Hotles Limited is United Groups one of the biggest project where I was assigned as an intern. IPCO is a comprehensive hospitality centre of buildings and facilities, designed with the prospect of providing luxurious shopping, business and hotel experience. Procurement is one of the major functional department of United Groups ‘IPCO Development Limited’ under the finance department. Throughout the report I tried to give brief idea about the United Group as a business house, the whole procurement process and my experience during the internship program. Procurement is a long process that involves store department and accounts as well. Procurement department concerns with all the purchase related activities such as preparing purchase order, preparing material receiving report, vendor enlistment, communicating and negotiating with vendors, doing market research, database management, ordering items etc. During my internship I have also worked in the accounts department which is related to the procurement process. My key activities were updating receipt journal after receiving new materials in store and updating stock journal when materials go out of store on Tally ERP 9 and also updating the ledger book. All these practical learning’s will surely help me a lot in the corporate life even though I think 3 month is insufficient amount of time to get good enough exposure to a big company such as United Group.