Our client is one of the oldest Indian engineering companies. The company is involved in Machine Tools, Textile Air Engineering, Textile Machinery etc. The senior management is concerned that in a rapidly changing external environment that provides significant opportunities, but also significant challenges, it needs to be a strategy focused organization driven by performance and more efficient management processes. This is where Cedar’s expertise come into play.
The primary objective of this program was to formulate strategy and develop business performance measurement and strategy implementation system using the Balanced Scorecard.
- A divisional Strategy for the client’s Machine Tool Division (MTD) was developed by Cedar. The strategic plan was formulated for the next 3 years
- This was done through synergizing the financial, business, organizational & customer perspective of the client into initiatives & actions
- Cedar then developed a strategy implementation framework using its Balanced Scorecard methodology with the objective being, to develop measure, targets and initiatives for strategic objectives developed earlier
- A Corporate Scorecard linkage diagram was then drawn out to facilitate the same, with the help of other standard templates
- 5-6 key sales & marketing processes were re-engineered. This was done so as to improve overall efficiency and competitiveness by transforming its key sales & marketing processes, to be more customer oriented
- KRAs for key positions in MTD were developed, that aligned with the Enterprise Performance Measurement System and Strategy.
- The processes were evaluated on the basis of multiple parameters and their linkages
The program mandated by Cedar helped in the following outcomes:
- An effective strategy deployment process was structured which further facilitated for efficiency in budgeting & resource allocation
- The re-engineering of processes led to an improved understanding of customer & product profitability
- Improved productivity on service standards, coupled along with enhancing customer satisfaction
- This further led to removal of bottlenecks in the supply chain & improved cycle time
- Overall, with an increased cost optimization, profitability for our client, increased significantly leading to a better competitiveness in the fast-packed market