Page 12 - Plastics News June - 2020

long term strategic plan and identify initiatives for International LLC
optimizing manufacturing conversion cost in order to OVERALL TAKEAWAYS FROM THE SERIES:
improve profitability. MSMEs will find it difficult to
sustain and will face a tough time in the year ahead. Ÿ Tap potential opportunities that could emerge for
India
During the session they gave multiple case studies and
ideas on how the Plastic Industry can optimise Ÿ Decode the possibility to stay profitable
manufacturing conversion cost. Ÿ Understand the profit drivers
th
MATERIAL COST OPTIMIZATION – 26 May, 2020 was the Ÿ Concept of profit leakages
th
day of the 4 session. Here again the attendees learnt Ÿ Develop short term recovery strategies and long-
about optimizing direct and indirect material cost term sustenance strategies
through design optimization and value engineering in
product and processes. How material accountability can Each of our above mentioned sessions had an attendance
improve, how material utilisation can improve and of over a hundred participants. Every session ended with
various techniques available in terms of material Questions that were answered by our panellists. A lot of
productivity. The attendees were shown some of the interest was generated during this program, requests to
techniques and methods of how to optimise material take it forward beyond the webinar and to conduct
cost which decides the ultimate profitability. training sessions and handholding was requested by
participants. Hence it was decided by our esteemed
DEFECT ELIMINATION – COST OF POOR QUALITY – the Managing Committee Members to take this further and
th
Last in the series was on 28 May, 2020. It explained
help the Plastics Industry.
Identification of Profit leakages due to rejects, rework
and customer return and how to optimize cost of poor THE WAY FORWARD –
quality by developing strategy for zero defect Training modules covering the tools & techniques to
manufacturing processes. Various rejections and empower our industry members regarding “How to
customer returns which affect profitability and further implement Cost Optimisation?” covered so far in the
result in loss of reputation of the Company was Profit Leadership trainings.
explained. Indian Companies can look forward to better In order to Handhold industry members to find root
opportunities from the developed world, but quality
causes of Profit leakages and solution implementation,
defects will become a deterrent for us to deal with the
developed countries. AIPMA in collaboration with SSA shall extend coaching
and mentoring part of the above training.
Mr NC Narayanan further explained how we should focus
on the quality of our product to avoid affecting the There are Industry members who have already
reputation and future prospects of the business. approached AIPMA for consulting support. AIPMA along
SPEAKERS: with SSA shall design & propose various consulting
models to suit the size of industry which can be chosen
Ÿ NC Narayanan: Founder Chairman, SSA Group
by the entrepreneurs. For micro and small industries, a
Ÿ Ganesh Iyer: Vice Chairman, SSA Group
suitable cluster shall be designed to support these
Ÿ Vijay Dhonde: CEO, SSA APAC
industries at an affordable budget with possibility of
Ÿ Naveen Narayanan: Managing Director, SSA
government funding.

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June 2020 12 Plastics News