Welspun India Ltd
Textiles | Fabrics | Apparel
Welspun India is one of the top 3 global manufacturers of bed and bath linen and a leading home fashions supplier in the USA market. Their textile manufacturing facilities in India, are Asia’s largest with complete vertically integrated lines for a farm- to-finish production across diverse products. Known for developing innovative and patented products, Welspun India is today a $750 million home textiles supplier with presence in over 32 countries. The company had been growing at a CAGR of 27% in the last 10 years, aided by a boom in textile manufacturing outsourcing to India, and a depreciating Indian rupee. However, western markets were growing at 4-5% annually, and the company needed to penetrate emerging markets to keep up its stellar growth. Chairman B. K. Goenka, Group MD R. R. Mandelwala and Welspun India CEO Dipali Goenka wanted to increase brand presence and market share in emerging markets. They identified marketing, distribution and retailing as three key parameters for growth and sustenance, and it was important for their managers to don these three hats to drive growth. As a part of building people capabilities, the executive management wanted to instil a holistic business perspective in their next-in-line leadership team.
WHAT WE DID
enParadigm along with Welspun’s Group HR Head Sandip Grover, used our REITM system to design and deliver 6 month business interventions for 117 senior management professionals, and enhance their business acumen, strategic thinking and financial acumen.
Participants also went through weekly post program retention modules, and worked on specific action items post the program. enParadigm put in a place a followup and review mechanism to measure impact over the next 6 months.
-Better credit terms with suppliers, increasing from 31 to 39 days to reduce working capital needs.
-Cross-functional approach to link support functions such as HR, safety, maintenance and quality to differentiation in offerings to customers
-Change from a technical mindset to a techno-commercial mindset.
-Reduction in inventory by 1 crore and savings of 15% in utilities budget.