The Jewelry industry plays an important role in the Indian economy. It is a leading foreign exchange earner that contributes around 7% to the total GDP and gives employment to 5 million workers, but there is a huge scope of improvement if we focus on pain areas of jewelry industries.
The basic path to success is the same for all. To increase sales and reduce expenses in order to improve profitability- the goal is the same but how we achieve each milestone may vary. Operational Excellence is the best way to better your business by improving our daily operations and reducing wastes (7 classical wastes) and improving productivity & quality.
Operational Excellence is the execution of the business strategy more consistently and reliably than the competition, with lower operational risk, lower operating costs, and increased revenues relative to its competitor. Operational Excellence can be achieved by focusing on KPI’s of jewelry industries…
- Quality: Do it right the first time, every time & everywhere.
- Cost: Do everything with the least cost by removing non-value added activities (wastes).
- Delivery: Just in time delivery approach.
- Productivity: Produce more & more in lesser resources.
Jewelry industry currently facing some of the challenges:
- Managing the large workforce.
- Availability of skilled employee, training & development in a short period.
- Managing the lead-time.
- Reduce rework & rejection after casting.
- Managing quality & cost.
How Vedzen helps in achieving operational excellence in Jewellery Industry –
Handhold the project team members for training & implementation on identified improvement projects throughout the project cycle till achieving success.
The project identified for the improvement from various units:-
- Reduction in Loose stone and missing stone.
- Reduction in rework & rejection.
- Reduction in lead-time.
- Productivity improvement & workplace excellence.
For each and every project cross-functional team is prepared with team leaders. The roles & responsibilities of each team member are defined. The last six months' data were collected to establish the baseline process capability. By using brainstorming, Gemba observations, process mapping, causes & effect diagram, graphical & statistical data analysis root causes are identified. Finally, solutions were found and an implementation action plan was made.
Sustenance and replication plan:
After achieving initial success, there is always a risk of losing the focus involved. That’s why Vedzen’s unique approach of sustenance was applied it includes Daily & Weekly updates on what’s app group, Fortnightly online meetings, periodic client visits, surprise shop floor audits, gap analysis, top management reporting, sustenance, and replication plan to get optimized leverage in the learning, comes into the picture.
In an improvement journey improving the process to an excellence level is very crucial but once it achieves, excellence in results is bound to follow.
Benefits:
- A better understanding of the processes.
- Great teamwork and synergy between different teams.
- A systematic approach for problem-solving.
- Fewer rejections and rework.
- More on-time deliveries and improved quality.
- Internal and end-customer satisfaction.
Want’s to start your own lean journey? Connect with us at info@vedzen.com for training & implementation of an operational excellence system.
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