From The COO India
Economic progress in the country lost some pace due to demonetization as well as new taxation related disruptions and GDP growth has been estimated to grow by ~ 7 percent against the initial estimate of 7.5% for FY 2017-18. Though there has been disruption affecting business sentiment, underlying growth momentum remains strong. It remains vitally important to improve order books, capacity utilization and optimization of operations cost. This demonstrates the need to have operational excellence programs for sustainable growth not just for manufacturing but for industries as a whole. Operational excellence cannot succeed only by focusing on asset reliability and cost optimization, but to achieve a benchmark level of performance in efficiency and effectiveness must focus on parameters right from the product development stage, sales, planning, procurement, production and supply chain functions.