Tube Investments of India Ltd
Tube Investments of India Limited (Initially established as TI Cycles of India Limited, Madras) is a Murugappa Group company specializing in engineering, bicycles, metal formed products, and chains. They are leading players in all their product categories by virtue of quality and engineering capabilities. Recently, TI also acquired a controlling stake in Shanthi Gears Limited, Coimbatore.
The company was facing challenges due to shrinking profitability, and improving the bottom line was one of its primary concerns. The middle management were experts in operations and project management, however they needed to have inputs on business and financial acumen for the business to reverse the profitability trend. Managers needed a holistic view of TII business to identify opportunities to increase revenue and margins in different parts of the business.
WHAT WE DID
enParadigm, using our Relevance-Engagement-Impact (REITM) system, identified performance gaps across functions, and designed a series of business acumen interventions for close to 120 senior and middle management across various functions at TII.
Participants also went through weekly post program retention modules, defined SMART (Specific, Measurable, Achievable, Result & Timebound) goals, and worked on implementing them. enParadigm put in a place a followup and review mechanism to measure impact over the next 6 months.
– Reduction of inventory by up to 25% and reduction of raw material lead time from 29 to 25 days.
– Reduction of manufacturing lead time from 4 weeks to 3 weeks.
– Additional of customers in two new industries – sugar and steel, with increase in revenue of INR 1.3 crore.
-Replacement of ball bearings with composite material bearings to improve efficiency and applications.