During the course of the challenging year, we
remained focused on our profitability by ensuring
fiscal prudence. We had identified the downward
trends, especially in the automotive segment,
since 2018 and begun flexing costs and infusing
efficiency mechanisms across all levels. During
2019, we continued to reduce waste, maximise
our outreach to our customers, and improve our
offerings as a supporting measure to sound and
effective management of costs, thus driving
efficiencies in every aspect of the business.
We undertake judicious decision-making
to grow our top line, while keeping an
eye on profitability.
Case Study: Sharp focus on improvements
Objectives
Drive all-round improvement in revenue by achieving
higher sales volumes, improving sales mix towards
high-margin offerings and optimising pricing
Step up rationalisation through efficient and optimal
production and by improving procurement, overhead and
inventory carrying costs
Ensure efficient allocation of financial resources by
optimising working capital, being prudent and judicious
for capital expenditure, driving better inventory
management and focusing on minimising overdues
Initiatives implemented
MOVE is Schaeffler India's continuous improvement
programme that focuses on making production facilities
more lean and agile. With active involvement of
employees at all levels, this initiative helps in optimising
plant operations.
During the year, we focused on improving shop floor
management through a wide range of initiatives.
Techniques such as Kaizen and 5S principals were
deployed successfully to optimise production.
We continued to streamline the distribution structure to
achieve better inventory management.
We leverage technology for conducting meetings through
online platforms.
We focused on optimising operational procedures across
all locations and business segments.
Case Study: Sharp focus on improvements
