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delayed dispatch – delayed invoicing, and delayed Post-COVID-19, developed countries are seeking
payment from unsatisfied customers. There to diversify their supply chains across multiple
can also be a penalty in the form of “Liquidated countries. India stands out by offering several
Damages” by the customer. benefits, such as a large and youthful workforce,
lower labour costs, and a growing emphasis on
The operations team has to continuously monitor improving its infrastructure, and ease of doing
and modify the number of Days of Supply (DOS) business. Additionally, the Indian government has
inventory levels, maintain optimum inventory for introduced various incentives for manufacturers.
smooth operations at one end, and avoid blockage Indian manufacturers should capitalize on this
of cash in excess and obsolete inventory at the opportunity.
other. This OTIF metric is crucial for maintaining
inventory level, ensuring customer satisfaction and
optimising supply chain performance. About the author: Rajangam Ramasubramanian
is an FCA with over 30 years of experience in
“The Goal”, written by Eliyahu Goldratt, a business family owned and publicly listed manufacturing
novel on the Theory of Constraints, maps the companies and multinational corporations. He
concept of OTIF and emphasises the importance has a strong passion for product costing to aid
of efficiency and improvement in supply chain price decision-making and excels in implementing
management. Management Information Systems (MIS) and
Enterprise Resource Planning (ERP). Rajangam

In a nutshell, proper inventory management brings has a proven track record of driving profitable
the company and the team together to achieve growth through effective financial management,
the objectives set by the management and brings stakeholder engagement, and team development
bonding of the team members. across diverse industries, including plastics,
chemicals, machinery, laboratory equipment,
The CFO can play a significant role by providing infrastructure support, and real estate. In addition
valuable and timely data analysis, helping to make to his professional expertise, he enjoys learning
effective decisions to optimise cash flow, thereby multiple Indian languages and sharing his
improving both top-line performance and margins. knowledge with others.

IIA India Enhances Internal Audit Effectiveness
for State Bank of India

IIA India recently organised a transformative training session for the State Bank of India (SBI) on “Root Cause Analysis for
Enhancing Internal Audit Effectiveness.”The session, led by Mukundan K V, engaged 51 senior professionals in strategies to
strengthen audit processes through comprehensive root cause analysis. Special thanks were extended to Shri Shamlal Garg,
CGM, Shri Naveen Kumar Jha, CGM, and Shri Srinivas Gali, DGM, for their valuable presence during the inaugural session.
Additionally, gratitude was expressed to Shri Kishore Kumar Poludasu, Deputy Managing Director, for his leadership in
supporting SBI’s membership and training initiatives aimed at capacity building within the Internal Audit Department. This
training was part of IIA Global’s renowned Global Training Module, emphasising high-quality education tailored to the needs
of internal auditors.

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