Proroject on kikkoman

Question: Discuss about the Proroject on kikkoman. Answer: Introduction (Source: https://www.insidethegames.biz/articles/1036480/soy-sauce-company-kikkoman-announced-as-official-tokyo-2020-partner) The Kikkoman (S) Pte Ltd was established in 1983, the company commenced operations in 1984 and leads in the manufacturing of the soy sauce, and the company is located in Singapore. The company aims at providing the high- quality products and services, the purpose of the company is to propose a nutritious and a well balanced diet that adds the flavors to the ingredients. Helping to support a healthy mind and body the company is keen in bringing happiness to the world every day (Shurtleff Aoyag, 2004). The main products that the company produces include the soy sauce, tempura noodle sauce, the teriyaki marinade sauce. For years the soy sauce has been a very important ingredient in the Japan and the Chinese cuisines. The company believes in Flavors that bring people together, Kikkoman is involved in the student exchange and the educational programs and promotes the international cultural exchange. The company enhances the international understanding. The company also has announced that any further testing on the animals will not be done, following the PETA campaign. The company has soy sauce as its leading product, but Kikkoman in the present day represents many of the products than the Kikkoman soy sauce. The company has various plants and also many subsidiaries, the Kikkoman group has affiliated with the Del Monte, Manns Wine Co., Ltd. and the JFC International Inc (Mogi, 2009). Production (Source: https://www.holidogtimes.com/the-most-popular-soy-sauce-brand-in-the-world-tortures-animals/#gs.dKgSnss) In the seventeenth century the soy sauces were produced manually and this process was extremely difficult and time taking, in the present time the production is done in a highly automated plant. The production of the soy sauce by the Kikkoman is done by naturally brewing process. The company has its production plants and its offices in Japan, United States, Netherlands and the Singapore. The firm has established quality control system that is based on the local regulations and the standards in monitoring the quality control measures. This is done in order to provide a safe and a high- quality product to its customers. The control over the production facilities all around the world and in Japan includes the standards in the food hygiene and its regular evaluations and the inspections of the equipments. The evaluations are carried out by the experts of Japan, so that the same segment of standards for the food production is maintained. Many other countries as well have started producing the Kikkoman soy sauce such as, the United States, Europe, Singapore and the Taiwan (Kikkoman, 2017). The production of a company involves the processes and methods that are used for transforming the raw materials or the semi finished goods into the goods and services. The Kikkomans soy sauce production line at the Noda Factory controls and measures the hygiene for the prevention of the contamination. The strict procedures for the hygiene control for the products must be followed before entering the bottling facilities for the soy sauce, the company checks on this in the production of the sauces and the other products (Kikkoman, 2017). The soy sauce is a dark brown liquid that has a distinctive aroma; it is used to season the oriental foods. The soy beans are the main ingredient of the soy sauce. The production of the sauce requires a complex fermentation process of the lactic acid and the alcohol, and the brown color of the sauce is the result of the maturation process of the six to eight months (WebstaurantStore, 2017). Marketing The company Kikkoman is described as a promoter of the international exchange of the food culture; the marketing strategy of the company has been a prioritized target for the expansion, further developing those markets and then moving to a new market. The marketing of the products in the foreign markets from the Japanese market has been very challenging. The marketing of the products are done by noting the culture of the region and innovating. Though the company offers the products to all the customers, but the market base of the company is seen to be the local consumers only. The company has seen that the soy sauce is a daily used product in Japan, so the company tries to target those countries which are of similar culture and preferences to Japan for the selling of its products. The Kikkoman corporations also have established its brand name in the United States, and are looking forward for the other countries also (Patrick, Mogi, et.al, 2011). The Kikkoman has entered into the two joint ventures; the company is in joint ventures with the Taiwanese company for entering the Chinese market. It has although entered into the Chinese market but the sales are low, this is because of the extremely high price of the soy sauce of the Kikkoman than those of the Chinese alternatives (Kikkoman, 2017). Accounting and finance The companys expansion of the financial position is as follow: Total assets, total liabilities and the net assets: The current asset of the month September 30th 2016, were 147,132 million, later an increase in the month of March 31 2016 was seen to be 837 million. The reason for this was due to the increase in the other current asset and the decrease of the process of the work, cash and deposits. The current liabilities were 64,975 million; in the month of March 31 2016 it increased to 7,407 million. The decrease in the bonds, the long-term loans payable and the deferred tax liabilities were the reason for the decrease of the noncurrent liabilities by 33,568 million to 48,859 million. The net assets had stood up to be 219,112 million; the decrease was by 6 563 million from the month of March 31 2016. The reason was because of the decrease in the foreign currency translations adjustment. This had resulted in the 65.2% of the equity ratio compared with the 61.2% on March 31, 2016. Cash flow: The cash and the cash equivalents in the month of September 30, 2016 were 33, 824 million; in the month of March 31 2016 this reflected a decrease in the cash and the cash equivalents of 1,383 million. The cash flows for each of the activity, the cash flows for the operating activities; these activities provide the net cash. The increase in the payment of the corporate income taxes is been a main contributing factor. The cash flow from the investing activities: due to the proceeds from sales of the investment securities, the investing activities provide net cash of 17,947 million.The cash flow from the financing activities: due to the redemption of the bonds and the payment of the cash dividends, the financing activities used a net cash of 27 147 million. Order cycle https://www.kikkoman.com/en/quality/ip/brand.html The order cycle is the time period between placing of one order and the next order. The order cycle of the Kikkoman Company develops a sustaining brand in the marketplace by continuously adding value to the brand. The order cycle sits at the interface between the customer and the retailer; it includes all the processes of filling the orders of the customers, arrival of the customers order, entry of the order, fulfillment and the receipt (Mogi, 2009). There are six components of the customers order cycle. The preparation and transmittal of the order. The receipt and entry of the order The order processing Warehouse picking and packaging The transportation of the order Delivery to the customers and unloading of the order. The time duration of the order cycle ranges from five to six days, and maximum of thirteen days the time taken to complete one order cycle depends on the production and manufacturing of the product. The company Kikkomans customer order cycle starts from preparing the order to the delivery of that order to the customers; it is done internationally (Cycle View of Supply Chain, 2013). https://www.thinksimpletoday.com/Cycle%20View%20of%20Supply%20Chain/#.VOe01RDfBuI Inventory management The practice of controlling and overseeing of the ordering, storing and using the components used by the company in production of its items is known as the inventory management. It is also the practice of controlling of the quantities of finished products for the sale. The inventory management is an important function. It determines the health as well as the supply chain of the business. The companys inventory is dynamic. There should always be a constant and careful evaluation of both the external and the internal factor is very much required. This can be done by planning and reviewing. There are various different stages of the inventory management. An organizations inventory and the supply chain management is the backbone of its operations. There are many changes that the inventory management has undergone; the company requires the need for the inventory management to maintain various purposes. Every companys inventory planner has the optimum goal for the inventory management (MSG management study guide, 2017). It is very important for the company to maintain the raw material inventory, the reasons why the organization needs to maintaining the raw material inventory are: To meet the variation of the demand in production: as per the sales, estimates, stocking patterns and the orders, the demand in the production also changes. The supply for the production varies according to the raw material. Seasonal demand: depending on the seasons; like the festivals, the market demand and supply varies, the data of the past sales help the company to analyze the demand in the market in advance. Economies of scale: the large amount of the raw material buying is always found to be cheaper for the company than buying the frequent small lots. The material is bought in bulk and holds the inventories in the plants warehouses. Reduce transit times and cost: when the raw materials are imported from the foreign country ,the transportation cost can be saved by buying the raw material in bulk, latterly transporting it as a container load or a full truck load. Taking advantage of increase in price and discount in quantity: in the national and the international market if there is an expected increase in the price, because of the changes in the demand and supply, the company in advance buys the raw material and hold stock as a hedge against the cost increased (MSG management study guide, 2017). Conclusion The company Kikkoman is the worlds leading brand in the soy sauce business. The company has been continuously supporting the food culture of Japan since the 1600s. W.ith a sense of responsive and perceptive innovations, the management policy has been blended to deep seated traditions. The company aims at making the best high- quality products and services, the purpose of the company lies in proposing a nutritious and a well balanced diet, and also adding the flavors to the ingredients. For bringing happiness to the world every day the company helps to support a healthy mind and body. The company has been providing a safe and a high- quality product to its customers. The product soy sauce is the main product of the Kikkoman, but the company has also come up with other food products and is very much liked locally and internationally. The marketing and selling is done over the hundred countries, from the overseas factories which are located in the Asia, Europe and the United States. It is concluded from the report, that the Kikkoman Company is a leading in the international exchange and has been promoting the development of its products according to the culture and preferences of that particular country in which enters. 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