Reference no: EM13809683 , Length:
Introduction:
Congo Cobalt Corporation is a company which supports several mining companies engaged in production of copper and cobalt through its in-house mining contracting services. These services include passing off the control of mine to the corporation which manages it on behalf of the owner mining company. The company has always supported the home mining companies in competing with the international competitors. A similar level of support is required at the present moment. The mining industries of the Cobalt belt are lacking behind because of the high cost they have to bear in operations. And one of the high costs is the necessary charge they have to pay to the Corporation, and as the corporation is a consumeroriented company, it is considering lowering the cost at its end to identify prospects of lowering the cost it charges from its consumers.
The company has two basic expenditure; one on the raw material, spare parts and tires and other operating expenses. The 90% inventory of the company is procured from the external suppliers which are located overseas in different countries. Apart the requirement of the company for spares and tires is also met through external suppliers. As the home-land of the company is a country which is already known to derive its major income and revenue from the custom taxes, the import duties levied on the goods imported by Congo Cobalt Corporation is also high. And therefore, it has been recognized that taxes on import, apart from the costs charged by supplier of raw materials are the basic cause of increase in the cost of inventory of the corporation.
The next basic expenditure that is the operating expenses consists of diesel, lubricants and human resources. The company has recognized fuel (diesel) as a consignment stock. However, still the average monthly consumption of diesel for the company ranges between 2,250,000 to 2,500,000 US dollars. This high cost incurred by company on diesel has been identified as the second high cost that the company needs to consider in reducing cost.
Additionally the company has recognized that the management that is lacking, or rather can be improved in the organization is supply chain management. It is expected by the management of the company that if supply chain management is strengthened, the present high cost issues that they are facing can be removed or reduced to comparable extent. And if they can be reduced they can help reduce their charges from the consumers can go down, which can subsequently help the mining companies in reducing their costs and also counter help them in competing with the other international players in the mining industry, which are eating up thereshares.
Structure:
- Abstract
- Contents page
- Introduction
- Literature Review( 5,000 words)
- Methodology ( 2,000 words)
- Results and Discussion( 5,000 words)
- Conclusion and recommendations( 1,500 words)
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