Godrej Interio - New Product Introductions

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Godrej Interio (NPD) | Enabling rapid new product development

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Godrej Interio's NPD transformation: Reduced development lead time by 20% and achieved 75% on-time launches!

Godrej Interio - Healthcare

Bahasa View the top management of Godrej Interio, a business unit of Godrej & Boyce Mfg. Co. Ltd., speak about how they increased sales by 35% and doubled their market share in the healthcare business.  The biggest challenge here was that, for healthcare furniture, the business development process required multiple interactions with different stakeholders in a medical facility. Since, as in the case of most B-B environments, salespeople were in constant conflict between using their available bandwidth to service current orders and getting new orders, developing new accounts was mostly forced to take a backseat. However, the company was able to resolve this conflict and released capacity from the existing team itself for business development.

Godrej Interio Healthcare | Unlocking sales capacity

View the top management of Godrej Interio, a business unit of Godrej & Boyce Mfg. Co. Ltd., speak about how they increased sales by 35% and doubled their market share in the healthcare business.  The biggest challenge here was that, for healthcare furniture, the business development process required multiple interactions with different stakeholders in a medical facility. Since, as in the case of most B-B environments, salespeople were in constant conflict between using their available bandwidth to service current orders and getting new orders, developing new accounts was mostly forced to take a backseat. However, the company was able to resolve this conflict and released capacity from the existing team itself for business development.

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Vector has developed bespoke solutions for equipment manufacturing or custom manufacturing companies to help them identify and address constraints in operations, sales, spares &amp; services, or new product development that limit consistent sales and profit growth.&nbsp;Working with companies like Laxmi Machine Works (LMW), Godrej Material Handling, RPG Raychem, Kirloskar Oil Engines Ltd. Bajaj Electricals (Luminaries Division), amongst many others, Vector has helped clients bring about excellence in equipment delivery, turbo-charge their sales &amp; business development efforts and set new benchmarks in after-sales services.&nbsp;

An equipment manufacturing or custom manufacturing company’s ability to grow its sales and profits consistently is limited by constraints in the following areas like Operations, Sales, Spares and Services and New Product Development:

Consulting Services for Equipment Manufacturing Companies

Analyses of top custom manufacturing companies, including manufacturers of capital goods and custom manufacturers of machinery and equipment, which design a product and make to order, show that only a handful have realized healthy sales, profits & ROI in the last decade.

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Equipment Manufacturing BA

industries

Equipment Manufacturing

India's largest lift truck maker slashed manufacturing lead time by 33% and increased export output by 54%.

Godrej Material Handling Equipment

GODREJ-MHE, India's largest lift truck Manufacturer, adopted Theory of Constraints framework with the help of Vector Consulting Group to revamp its operations to enable it to better meet customer expectations. The company discusses this journey

Godrej Material Handling Equipment | Agile supply chain enabled by TOC

Among other benefits, the company saw a 25% increase in overall sales and a 100% increase in dealer network sales.

Godrej Storage Solutions

On-time delivery enhanced to over 85% in this multi-project environment.

Godrej Enterpises Group - Tooling

Flow Management in projects helped the company achieve a massive 380% increase in execution-based billing and 100%+ growth in profit margins.

Godrej Electricals & Electronics - Power Infrastructure and Renewable Energy

Godrej Electricals & Electronics | Rapid execution of infrastructure projects

Vector’s Engineering &amp; Construction consulting practice, offers tailored solutions for Engineering, Procurement and Construction (EPC) companies, enabling them to identify and address constraints in project execution and operations that may hinder their sales growth and profitability.&nbsp;By implementing a unique Flow Management approach in its consulting assignments for construction projects, Vector has enabled clients such as Skipper Ltd., Bajaj Electricals (Engineering &amp; Projects Division), Godrej (Electricals &amp; Electronics Division), Tata BlueScope Steel Ltd., and KEI Industries Ltd. to complete projects ahead of schedule while increasing the number of projects executed within the company's allocated operating expenses.

An Engineering and Construction (EPC) company’s ability to grow and sustain sales and profits is limited by constraints in Project Management and Sales.

Consulting Services for Engineering and Construction Businesses

The growth of project organizations dealing with turnkey projects involving engineering, procurement and site construction has slowed down despite healthy demand because they operate in a highly uncertain environment (ROW issues, bureaucratic hurdles, etc.) Find out how companies can not only manage but also flourish in spite of these challenges.

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Engineering & Construction

After implementation, production lead times reduced by 50%, and profits increased 4x in this security products company.

Godrej Security Solutions

Godrej Indonesia implemented 'pull-based' replenishment with their largest modern trade partner; their results: inventory reduced by a massive 41% while maintaining a consistent product availability of 98%-100%.

Godrej Megasari

Vector’s Consumer Goods &amp; Retail consulting practice offers expertise to consumer-packaged goods (CPG) companies involved in the distribution and retail of their products. These strategies help expand market range and reach, create market pull through influencers, and enhance overall supply chain and distribution efficiencies.&nbsp;With path-breaking solutions in Sales &amp; Distribution, New Product Development, Inventory Planning, and CRM programs, Vector has delivered significant business results for companies such as Bajaj Electricals (Consumer Products), VIP Industries Ltd., Godrej Interio, Polycab, Pidilite, Godrej Security Solutions, and many more.

Organizations producing, distributing, and making products available at retail points can be consumer goods companies or consumer packaged goods companies (CPG). Such companies could develop a constraint in areas like Internal Operations and Distribution, External Distribution, Sales Bandwidth, Retail Operations and New Product Development.

Consumer Goods & Retail Consulting Services

Much as they may wish otherwise, most Indian consumer good companies find that they have no consistent “Reach” into almost 65% of the country’s population (especially in rural, rur-ban areas) since they believe that this spread out population would be ‘cost inefficient’ to service.

Consumer Goods & Retail

This leading custom home kitchen solutions brand revamped its manufacturing and distribution, improving OTIF to 90% and achieving strong 25% YoY growth in its order book.

Godrej Interio - Home Kitchens

Until recently the company was struggling to complete projects on time but within one year of TOC implementation, lead times crashed

Godrej Interio - Institutional Business

Godrej Interio | Transforming sales and business development

Godrej Interio's service division transformed its spares and services operations, improving service levels without increasing fixed costs and reducing consumer complaints by 55%.

Godrej Interio - Service and Spares

Godrej Interio’s B2B operational revamp: implementing Complete Order Execution (COE) increased OTIF delivery from 40% to 85%+, unlocked 30% sales team bandwidth, and delivered 46% revenue growth.

Consumer Goods & Retail Case Study |Godrej Interio

Godrej Interio

**Highest output from NPD achieved in spite of more than one month of COVID related disruption of work
**Output jump is for comparable products calculated by a complexity matrix
#Launch within 3 months of planned due date as per annual plan

Godrej Interio, a business unit of Godrej &amp; Boyce Mfg Co Ltd, is India’s largest furniture company. It is one of India’s premium furniture brands and serves both home and institutional segments. Its products range from chairs, sofas, and wardrobes to office cubicles and healthcare products such as ICU beds. The company is present in all major cities in India, with 52 company-owned stores and 800+ dealers.&nbsp;To stay ahead in the market, Godrej Interio’s NPI (New Product Introduction) division continuously designs and develops innovative products that emphasise comfort and aesthetics while delivering environment-friendly, durable, and functional furniture solutions. Some projects are relatively less complex with shorter lead times, while others are highly complex and take longer to complete. In either case, although new product development happens in-house, manufacturing the newly developed products requires support from the company’s manufacturing plants as well as more than 300 domestic and international vendors. As in most New Product Development (NPD) organisations, there were interruptions, frequent rework, and significant delays in the development and launch of products (delays of more than 1 year from the planned launch date in a few cases). Consequently, the company experienced a year-on-year decline in output and a low contribution of new products to overall sales.&nbsp;To overcome these problems, Godrej Interio implemented a rapid R&amp;D solution approach. The objective was to increase the output of new products from the R&amp;D pipeline while reducing development lead times and variability. This was important because the company’s B2C business relies heavily on seasonal and festival-driven demand. Therefore, launching products faster to meet market needs is as important as launching them close to the season with minimum variation.&nbsp;The table below summarises some of the results achieved after two years of implementation (FY2019-20 and FY2020-21):&nbsp;&nbsp;

Learn how Godrej Interio doubled new product launches, reduced B2B and B2C development cycle times, and grew NPD sales contribution to 16.2% with Vector.