Expert Detail
Organized by: Department of Commerce (B.Com Accounting and Finance)
Date of Visit: [Insert Date]
Venue: Channapatna Crafts Park, Channapatna, Karnataka
Participants: B.Com (Accounting and Finance) Students
Faculty Accompanied: Priyanka G
Introduction

An industrial visit was organized for B.Com (Accounting and Finance) students to Channapatna Crafts Park in Ramnagara district, Karnataka, known for its heritage craft of wooden toy-making. This visit aimed to provide students with insights into the traditional toy manufacturing industry, understand the financial aspects of small-scale industries, and learn about operational procedures, cost management, and sustainability in a real-world setting.

Objectives

1. To understand the traditional and sustainable manufacturing processes of Channapatna toys.
2. To learn about financial management practices in a small-scale industry.
3. To gain knowledge on inventory and cost management.
4. To observe how heritage crafts are integrated into modern markets.


About Channapatna Crafts Park Factory
The Channapatna Crafts Park specializes in creating wooden toys and decoratives using eco-friendly methods and traditional designs. Known as the "Land of Toys," Channapatna has been associated with toy-making for centuries. The industry uses locally sourced wood and natural dyes, upholding sustainable practices and generating employment for the local artisans.

Highlights of the Visit
1. Manufacturing Process
The students observed the step-by-step production process, which includes:
• Wood Selection and Preparation: Softwood, mainly from the Wrightia tinctoria (Ivory wood) tree, is selected for its lightness and workability.
• Turning and Shaping: The wood is carved into various shapes using lathe machines.
• Polishing and Coloring: Natural dyes are used for coloring the toys, making them safe for children.
• Finishing Touches: The final product is hand-polished, adding a sheen to the toys and ensuring durability.
This process demonstrated traditional craftsmanship balanced with modern machinery, where students observed the artisans’ skill and precision.

2. Financial Insights The factory’s finance team shared insights into the business’s financial aspects, covering:
• Cost Management: Breakdown of raw material costs, labor costs, and operational expenses.
• Inventory Management: Techniques for maintaining inventory to avoid both shortages and excess stock.
• Revenue Streams: Analysis of domestic and international markets, seasonal demand, and sales channels like e-commerce.
• Challenges Faced: The impact of fluctuations in raw material prices, competition from mass-produced toys, and maintaining quality.

3. Marketing Strategies

The team also discussed the marketing strategies employed, such as partnerships with government handicraft boards, participation in exhibitions, and leveraging social media. They emphasized the importance of brand storytelling in promoting Channapatna toys as a traditional, eco-friendly product.

4. Social and Environmental Impact

The visit highlighted the factory's commitment to sustainable practices, including:
• Eco-Friendly Materials: Usage of non-toxic dyes and sustainable wood.
• Local Employment: Support for artisans, preserving traditional crafts, and empowering the local community.
• Global Awareness: The factory’s role in spreading awareness about Indian handicrafts worldwide.

As a part of the Industrial visit the students also visited PAYANA, a vintage car museum which they enjoyed.

Student Feedback and Learning Outcomes

The students found the visit to be an eye-opener regarding small-scale industries, heritage crafts, and the importance of sustainable business practices. They gained practical knowledge on managing costs and inventory, along with the nuances of running a business dependent on artisan skills. It also inspired many students to think about entrepreneurship and how traditional arts can be sustained through innovation and effective marketing.