Manufacturing sector should focus on value migration
Addressing secondary waste and practicing lean management process are needed for India to become global leader in manufacturing, S Sandilya, President, SIAM and Chairman, Eicher Motors Ltd, today said.
Speaking at the Annual Manufacturing Conference organised by CII on 'Maximising Cost Competitiveness in Turbulent Times' he said manufacturing firms should understand that value migrates on a continuous basis and develop processes that sustain.
'We need to focus on lean management not just lean but should practice lean as a concept. Increasing value to all the stakeholders not just for the customers is needed, he said.
Dr B Mahadevan, Professor of Operation Management, IIM, Bangalore, said value migration always takes place and bringing relevance into our activities is needed to be in the business.
The market will become unkind if there is no value creation or value appropriation according to current context, he said.