TK Chand lays stress on Operational Excellence
Visakhapatnam: Operational Excellence is vital for improving productivity and profitability of the industry. In any business process, manufacturing,...
Visakhapatnam: Operational Excellence is vital for improving productivity and profitability of the industry. In any business process, manufacturing, engineering or construction-operational excellence can be achieved by quantification, benchmarking, target fixation and achievement and close monitoring with feedback, said Mr TK Chand, Director (Commercial), RINL.
Addressing a gathering on Operational Excellence Mission of CII, here on Thursday, Mr Chand, who is also the Chairman, Computer Society of India, Vizag Chapter, said regarding the operational excellence RINL was once written off by the bankers as a non-viable project. But now it has grown from strength to strength and has become a Navratna Company consistently earning profits and improving its bottom line.
The company has achieved excellent techno-economic parameters in marketing. RINL has the lowest handling cost and stock to sales ratio among all producers due to continuous efforts for bringing in operational excellence. Mr Chand emphasised that MSMEs should adopt operational excellence to bring in quality and cost competitiveness which will provide the necessary fillip to manufacturing sector to pick up.He expressed optimism that industrial revival will take place and the present economic downturn will slowly recede as in the global market. In the USA, economy has shown signs of revival and consumption in China is on the rise, he added.