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J&K Handicraft Corporation recovers from crises

Mar '07
The Corporation is gradually recovering from the crises caused due to the disturbed conditions prevailing in the state for more than a decade.

Its working has shown visible improvement during last three years as the sales turn over which would normally range from 450 lacs to Rs. 500 lacs per annum crossed the figure of 884 lacs during the last financial year.

The Corporation during the current financial year upto ending January has increased sales by 20 percent as compared to the last year sales.

The achievement is encouraging particularly because the turn over has been registered with almost zero investment in procurement of trading goods.

Previous the corporation used to procure goods from the artisans/small traders on out right purchase basis. A portion of these stocks would even turn shopsoiled due to passage of time and had subsequently to be cleared on cost price and even by auction.

Due to the militant activities which lasted for the full decade of nineties, the Corporation was financially crippled. Out right purchase of goods was discarded and management had to look for alternative source of supply.

Experimenting different moods recourse was ultimately taken “Sale Cum Return” system of procurement. Under the system dealers are motivated to keep their stocks in corporation Showrooms for sale. The cost price of the items negotiated with the suppliers keeping in view the market rates.

Sale price is fixed by theCorporation adding a particular percentage as “Mark up” taking into account capacity of the item to absorb the addition and also the market trend.

After the sale cost price of the goods is returned to the supplier and mark up portion retained by the Corporation as its earnings.

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J&K Handicraft Corporation

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