In 2022-23, Indian industries are showing growth despite significant headwinds, including macroeconomic uncertainty. Indian companies have recorded a significant increase in revenue and are now higher than pre-pandemic levels, driven by sustained volume increase, policy support, and increased consumed expenditure. However, in a few sectors including India’s IT industry, the growth momentum is expected to slow down in the near to midterm due to macroeconomic factors including lower discretionary IT spends. Subsequently, it is expected that the sector will reduce hiring because of adding excess capacity in the previous fiscal year.
Mr. Vinod Grover, Managing Director, South Asia and Africa and Mr. Jayant Murthy, Joint Managing Director, South Asia and Africa along with the participants during Kaizen Congress India 2023
As a result of this, other sectors also face a looming threat of underperformance in the months to come. A key determinant in any economic cycle of ups and downs is whether or not an organization has been able to maximize its operational efficiency. Research has suggested that for a company that the way we organize work can influence productivity more than individual effort can. There is however a second part to this, a way for companies across sectors to sustain themselves, is through a focus on resilience alongside efficiency.
Resilience is defined as a company’s ability to recover effectively from periods of economic downturns. Efficiency allows us to thrive in an existing business environment, and resilience coupled with efficiency allows us to thrive through a dynamic and constantly changing business environment.
The 12th Annual Kaizen Congress India 2023, a two-day event organized by Kaizen Institute at the Sheraton Grand Bund Garden Hotel in Pune brought this in focus. The event centered itself towards promoting continuous improvement and efficiency in the workplace as it brought together some of the most renowned industry experts, business leaders and professionals from various sectors to share their insights, strategies, and experiences on how to deliver resilience and efficiency through lean management methods in their respective organizations. The event was attended by over 200 participants from sectors including FMCG, retail, auto, manufacturing, and healthcare.
The Congress kicked off with an opening keynote address by Mr. Vinod Grover, MD – South Asia and Africa, Kaizen Institute, who emphasized the importance of a platform such as Kaizen Congress India 2023. He said that, “A platform dedicated to continuous improvement and organizational efficiency is key to unlocking India’s business and growth potential to realize our collective vision for a prosperous and thriving economy by 2047.”
Throughout the two-day event, attendees had the opportunity to participate in various interactive sessions, panel discussions, and workshops led by experts from different industries, including manufacturing, healthcare, and services. Some of the keynote speakers included Dr. N. Ravichandran, Chief Mentor – UCAL Fuel Systems, Mr. Periakaruppa Nadar Kaniappan, Managing Director – ZF Commercial Vehicle Control Systems India and Mr.Lakshminarayan Ganesh, Chairman& Managing Director-Rane Holdings Ltd. The congress also witnessed high impact session from Mr. Manoranjan Pani – Chief General Manager – Anand Milk Union Limited (AMUL).
Speaking during the conference, Mr. Jayant Murthy, Joint Managing Director – South Asia and Africa, Kaizen Institute said that, “A critical part of business success is not simply through maximizing efficiency across divisions, but it is through allowing yourself to be challenged in a constantly changing environment, and subsequently building total system resilience and adaptability to continue performing on top.”
The overall event emphasized strategic planning and techniques to bridge the gap between strategy formulation and execution. Experts from Kaizen Institute highlighted methodologies to help participants align their strategy vertically from top to bottom, ensuring that everyone is aligned with the company’s goals and objectives. Kaizen methodologies can be adopted in different sectors including manufacturing, pharmaceuticals, aviation, FMCG among many others. Participants also had the chance to network with peers and experts from their respective industries.
The Kaizen Congress India 2023 was organized by Kaizen Institute, a leading consultancy firm specializing in continuous improvement, and was supported by various sponsors and partners. For more information about Kaizen Institute and its’s methodologies, please visit in.kaizen.com.