Tabuk pharmaceuticals texas

Internship Report Student`s name: Ahmed Fadel Aljamed Student`s ID #: 160064813 Training Organization: Tabuk Pharmaceuticals Manufacturing Company Trainee Department: Finance Department Field Instructor Name: Khaled Abuazzeh Faculty Member: Musaed Alsultan Field Instructor Signature: Faculty Member Signature: Internship Start Date: September 06, 2020 Internship End Date: November 19, 2020 Course: ACCT 430 CRN: 10768 Academic Year/Semester: 2020/ 1st semester 1 Internship Summary: This report describes my internship for ten weeks at Tabuk Pharmaceuticals Manufacturing Company where I have been working for almost the last three years and where I also did my internship program based on my current role at the company as a cost accountant. Tabuk pharmaceuticals manufacturing company was established as private company in 1994 in Tabuk city. With its business expansion during the last two decades, it has established a high reputation in the market of middle east and MENA as it is known for its high quality products. Tabuk pharmaceuticals manufacturing company main plant is based in Tabuk city, however, they have a plant for sterile manufacturing in Dammam second industrial city which started working in 2014 where I am currently working and did my internship for the last 10 weeks in the costing and inventory department. I signed off my training registration form with my supervisor Khaled Abuazzeh – Financial controlling assistant manager - and agreed for a period of 10 weeks, 30 hours per week. During these ten weeks I tried to apply all knowledge and skills that I have learned at the university especially from the cost accounting and managerial accounting courses and associated them with the real life commercial job requirements in a manufacturing company. As part of the activities and tasks I was responsible for monitoring production target vs. actual cost, inventory control, cost estimation and cost release, provide solutions to avoid financial impact and calculating raw material and packaging materials cost per unit for business development purposes. 2 Content: Page Company Description …………………………………………………….………………4 Organizational Structure………...……………………………………………………...….5 Contact Information & Key Facts about TPMC ………………………….………...…….6 Costing & Inventory Control Department ……………………………………………......7 Material Production Cycle…………………………………………………………………8 Product Cost Break-down………………………………………………………………...10 Target Cost vs. Actual cost of production………………………………………………....11 Inventory Control………………………………………………………………………….12 Material Target Quantity vs. Actual………………………………………………….……13 Calculating raw and packaging material cost for business development………………….14 Internship Assessment …………………………………………………………………….14 Conclusion…………………………………………………………………………………16 Appendices…………………………………………………………………………………17 Reference………………………………………………………………………………...…21 3 Company Description: Tabuk Pharmaceuticals Manufacturing Company (TPMC) was founded in 1994 in Tabuk as private company to produce a large range of generic medicine. At the initial stage of the company’s business, the company focused on the local market of Saudi Arabia and then in 1997 made its first export to Algeria. By 1999, the company extended its operations to reach gulf countries. Nowadays, TPMC operation covers middle east and north Africa countries. In 2006, Astra industrial group acquired TPMC as 100% subsidiary. Since then, the company sales increased and now it has more than 250 products in its portfolio. In 2014, Dammam manufacturing facility was completed, and it is considered the only site for lyophilized injectable in KSA. Along with local manufacturing, TPMC has assigned exclusive agreement with global pharmaceutical companies such as Pfizer and AstraZeneca and many other companies to produce their products locally in Saudi Arabia. 4 TPMC has a wide range of clients including Ministry of Health, Saudi German hospital, NUPCO and many other local and foreign hospitals and medical