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Frost & Sullivan hosts India Manufacturing Excellence Awards 2007

  • December 10, 2007
  • News

Summary

December 10, 2007 - MUMBAI, India - Frost & Sullivan, a global growth consulting company, at the eve of its Manufacturing Summit on 7th December, hosted the India Manufacturing Excellence Awards (IMEA) 2007, at Hyatt Regency, Mumbai. Instituted in 2004, the awards aim to highlight the very best and indeed, India's world-class manufacturing capabilities and acknowledge the best facilities in India that have achieved and sustained manufacturing excellence through a balanced mix of diligence, perseverance, foresight, and dedication required to develop a successful manufacturing organization. The awards ceremony saw both Large and Emerging Enterprises (defined as SMEs or companies with turnover less than INR 100 Crore) presented Platinum and Gold awards across sectors such as Automotive, Automotive Ancillaries, Engineering, Chemicals, Healthcare, Metals and Process. Award recipients were conferred titles based on the recommendations of the Jury Panel, chaired by Dr. R A Mashelkar. Mr. Shyam Bang, Executive Director, Jubilant Organosys; Mr. K V Shetty, Managing Director, IP Rings and Director, India Pistons; Mr. Pravin Chaudhari, Director (Supply Chain), Kansai Nerolac; Dr. N Ravichandran, President (Operations), Lucas TVS; Mr. V K Magapu, CEO, L&T Infotech and CIO, L&T Mr. Rajeev Srivastava, GM - Enterprise, Microsoft Corporation and Mr. Sourav Majumdar, Bureau Chief, Deputy Executive Editor, Financial Express, Mumbai were the other eminent jury members. Speaking about the roadmap ahead for manufacturing, Anand Rangachary, Managing Director, Frost & Sullivan, South Asia and Middle East, said, “It’s a known fact that India’s next era of growth will be fuelled by manufacturing. To make this a reality, a series of favorable policy decisions, followed by full implementation are required. We not only need to ensure that FDI inflows into manufacturing happen, but also need to parallely address our regulatory and infrastructural challenges. Today, the service sector (off-shoring services, BPOs, IT, etc) has capitalized on our traditional strengths and made significant contribution to India’s GDP. While, much pride should be attributed to this achievement, it is also an emerging point of concern as the vast manufacturing labor (inexpensive and skilled too) continues to remain sub-optimally utilized.“ Frost & Sullivan received an over-whelming 140 requests for IMEA 2007 assessments. Applicants were asked to assess themselves on a 30-point checklist and send in 50 key matrices, which define their business performance. Based on the self-assessed checklist and matrices, facilities were short-listed for site visits. During these site visits, facilities were assessed on 14 factors (12 quantitative and 2 qualitative) such as Layout and MHS, Focus on Customers, Safety and Environment, Supply Chain, Quality Systems, Operational Flexibility, amongst others. These factors are globally known to reflect facilities’ progress towards flexibility and leanness and are associated with manufacturing excellence. Scoring was on a maximum of 1200 points. A stringent evaluation process based on the above model was followed to select award recipients. Highlighting the key findings from IMEA, Raghavendra Rao, Director, Manufacturing and Process Consulting Practice, Frost & Sullivan, South Asia and Middle East, said, “At a broad level, the findings have been promising. Almost 70 percent of companies assessed (those that had applied and been subsequently short-listed) recorded good progress in their journey towards leanness. Another 24 percent had gone beyond and established reliable systems. At the other end, we had 7 percent facilities that had made no significant move towards manufacturing excellence.” “Manufacturing Excellence Initiatives have to deliver their value in enhancing medium and long term competitive advantage. It is the ability of recognizing this and subsequently prioritizing the activities, that helps in aligning the manufacturing strategy with organizational vision and goals. Though most companies compete for the award and recognition for their efforts through IMEA, a few look for improvement points and benchmark their practices against world-class companies.” Raghavendra Rao further elaborates. IMEA 2007 was preceded by the ‘India Manufacturing Summit,’ which focused on sharing best practices observed during the assessment of facilities. Covering topics such as Supply Chain and Logistics Excellence, Leveraging Lean Concepts towards Operational Excellence, Safety Practices, Integrating IT to leverage manufacturing systems control, amongst others, this summit provided an ideal platform for knowledge exchange and business networking. Microsoft was the partner for this year and Auto Monitor, Chemical Weekly, the Financial Express, Industrial Automation, Industry 2.0, Logistics 2.0, NDTV Profit and Search were the official Media Partners. For further details on the awards, please log on to www.frost.com/ms About Frost & Sullivan Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. Learn More

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