PR Newswire | 09 Jul, 2014
MUMBAI: Godrej Security Solutions, a client of Vector Consulting Group, has been awarded the TOCICO International Achievement Award 2014 for sustained excellence and demonstrated results utilising Theory of Constraints (TOC), in addition to significant contributions to the TOC community.
TOCICO (Theory of Constraints International Certification Organisation) is a global not-for-profit certification organisation for TOC practitioners, consultants and academics to develop and administer certification standards, and facilitate the exchange of latest developments. The award is internationally-recognised, highly competitive and one of the most coveted in the TOC world. Few companies, namely ABB, Boeing, United States Marine Corp. and Fleetguard Filters-India (a client of Vector Consulting Group), have received this recognition in the past.
Godrej Security Solutions pushed up the on-time performance of its plant to as high as 90%, which was just 30% before the TOC implementation process.
Moreover, production lead time was cut and brought down by more than 60%. At the same time, the output has more than tripled since TOC principles were adopted. In addition, overtime was reduced by 80% and the WIP (work in progress) was slashed by more than 57%. The order delivery lead time was another aspect that was tackled using TOC processes. It was brought down to under four weeks. Most importantly, the same resources were harnessed to achieve these gains.
The company saw an impressive jump in profits, working capital and market share while profits tripled and profitability (PBT/Sales) doubled, post the TOC implementation.
Speaking about the recognition, Satyashri Mohanty, Director, Vector Consulting Group, said, "The TOC approach of exploitation of existing assets, in terms of both operational capacity and available market, before putting money into new capacity and new markets, helps companies to de-risk their business and make it recession-proof."
About Godrej Security Solutions
Godrej Security Solutions, one of the divisions of Godrej & Boyce Mfg.Co.Ltd and part of USD $3 billion Godrej Group, is the pioneer and leader in the business of security solution for homes, offices, railways, airports, places of worship, institutions and industries.
About Vector Consulting Group
Vector Consulting Group is the leading consulting firm in the space of Theory of Constraints consulting in India. It engages with organisations to help them gain market share by building unique supply chain capabilities that provide a competitive edge in the market. Vector Consulting Group is engaged with India's most renowned industrial houses such as Tata, Godrej, Bajaj Electricals, Cummins Group, Liberty, Raymond, and Kirloskar Oil Engines.
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Media Contact: Vidya Dilip, firstname.lastname@example.org, +91-9820333846, Vector Consulting Group