Asset Management and Revenue Collection: A Strategic Financial Review of Next Food & Beverage Industries Limited

Abstract

The main subject of this internship report is Asset Management and Revenue Collection: Strategic Financial Review of Next Food & Beverage Industries Limited. The audit emphasizes critical operational weaknesses in procurement, interdepartmental communication, revenue collection, and inventory management because these factors determine how well the company performs financially and continues successfully. This evaluation examines the procurement problems NFBIL encounters because of high procurement costs, reliance on specific suppliers, and lacking competitive supplier selection procedures. Production-related inefficiencies and stock management problems are primarily caused by inadequate communication between departments. The company faces operational challenges because of inadequate revenue collection organization, which produces delayed payments that disrupt cash flow stability. The company experiences financial losses because of its ineffective inventory control system, inability to predict demand, and excessive stockpiling habits. The report suggests solving financial problems by using structured procurement methods and enterprise resource planning (ERP) systems, digital payment systems, and revenue collection improvements through customer relationship management (CRM) platforms. The recommended implementation approach consists of stages that aim to both successfully implement improvements and maintain their long-term effectiveness. The research findings enhance knowledge about financial and operational management in the food and beverage sector by focusing on process optimization and strategic financial planning.