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Growth & Profit Catalyst
Maximize ROI Through Focused, High-Impact Initiatives
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Caselets
Aligning Projects with Strategic Goals
The PMO identified a challenge in aligning its project portfolio with organizational strategic goals, leading to inefficiencies, resource wastage, and suboptimal ROI. To address these, the project team implemented Hoshin Kanri principles, developing a prioritization framework that evaluated projects based on ROI, strategic alignment, risk, and feasibility. A governance structure was introduced for continuous portfolio evaluation, along with optimized resource allocation plans. The project delivered significant benefits, including a 20% increase in ROI and a 15% reduction in resource wastage. By aligning 90% of projects with strategic goals, it minimized redundant initiatives and enhanced overall organizational performance. The optimized portfolio delivered sustainable value while improving stakeholder satisfaction and achieving long-term business objectives.
Business Analytics > Business Analytics Foundation
Digital Transformation > Data Analytics
Sales & Marketing > Sales and Marketing AnalyticsOptimizing Sales Forecasting with Analytics
The retail arm of a clothing brand struggled with inaccurate sales forecasting, leading to overstock and stockouts costing around INR 25 lacs per quarter. The team identified a need to have a robust predictive model and hence launched an Advanced Predictive Analytics project. By leveraging machine learning models on historical sales and market data, the team improved forecast accuracy by 30%. This optimization reduced inventory costs by INR 20 lacs quarterly and increased sales by INR 10 lacs through better stock availability. Enhanced data governance practices also ensured data quality and compliance, fostering informed decision-making across departments.
Boosting Revenue with Targeted Analysis
This project was carried out for an e-commerce company where they aimed to boost their revenue by at least 10% through targeted cross-sell and up-sell strategies. It involved detailed and tedious study of customer data, identifying their purchase patterns, and developing personalized offers. Implementation included integrating recommendations into sales channels and training sales teams. By leveraging CRM and analytics tools, the initiative enhanced customer engagement and conversion rates by 20%.
Sales & Marketing > Sale Process Optimization
Streamlining Sales Contract Processes
A sales process optimization project aimed at reducing the contract signing time was undertaken at a leading insurance provider. By reducing the average time from 10 days to 2 days the insurance provider was able to increase the contract closure rate from 74% to 80%. Additional benefit in terms of cost savings per contract were INR 550. Key initiatives included assessing a suitable e-signature system, integrating it with existing CRM, redesigning the processes, and training the staff.
SCM/ Purchase > Supplier Relationship Management
Expanding Supplier Engagement Networks
A Supplier Relationship Effectiveness project was undertaken for an NBFC to expand their Direct Selling Agent (DSA) network. The project involved identifying additional geographies to penetrate, identifying the major DSAs active in that region, re-working the commission structures to make it more attractive for DSAs and training the sales team to be able to give a quicker confirmation on loan sanctions. By effectively engaging the DSAs through a dedicated sales teams, the company was able to increase their active DSA count from 45 to 62, leading to a 50% increase in the file sourcing and increasing the annual disbursements from INR 40 crore to INR 55 crore.
R&D/ Product Development > Value Engineering
Driving Cost Savings Through Value Engineering
A Value Engineering project was done to reduce production costs of a household appliance without compromising quality. Initially, production costs were INR 10 lacs per batch. The team conducted a value analysis with a cross functional team and external SMEs, identifying alternative materials and optimizing manufacturing processes. They collaborated with suppliers to negotiate better rates, reducing costs by 15% to INR 8.5 lacs per batch. This cost saving of INR 1.5 lakhs per batch enhanced profitability and allowed competitive pricing, increasing market share by 10%.
Business Excellence > Hoshin Kanri
Aligning Strategy with Hoshin Kanri
Hoshin Kanri workshops are conducted along with the senior management teams where the team aligns the company’s strategic objectives with departmental goals. They facilitated the catchball process to ensure comprehensive input and buy-in from all levels. Key initiatives included expanding into new markets and enhancing customer service. Regular monitoring and adjustments ensured that targets were met, resulting in a 15% revenue growth and a INR 8 lacs improvement in operational efficiency over the fiscal year.
R&D/ Product Development > QFD
Realigning Product Design with QFD
A QFD project that focused on a new consumer electronics product (washing machine) that failed to meet key customer expectations (causing a 20% sales dip) was executed for a leading player in consumer durables. The team developed a comprehensive QFD matrix to translate customer needs (the WHAT’s) into design specifications (the HOW’s). By prioritizing features based on customer importance, they realigned the product design accordingly. This led to a 30% increase in customer satisfaction and a 15% boost in sales, generating an additional INR 5 lacs in revenue. The standardized QFD process ensured future products consistently met customer demands.
Discrete Manufacturing > Electronic and Electrical Equipment
Sales & Marketing > Marketing Effectiveness
Accelerating Catalogue Creation
A project to improve the market effectiveness was carried out at a leading ecommerce company. The project reduced the catalogue creation time for new items. Key activities included streamlining workflows, validation of item descriptions, image verifications by warehouse teams, auto spell and cost checks. The company was able to reduce the average time to produce catalogues from 12 hours to 5 hours. This resulted in productivity gains, greater vendor satisfaction and an increased revenue of INR 50000 per month from quicker item launches.
Sales & Marketing > Customer Relationship Management
Optimizing Customer Onboarding
A project was carried out in a leading NBFC to streamline the customer onboarding process. By reducing the average onboarding time from 15 to 7 days and increasing customer satisfaction from 70% to 90%, the company was able to decrease onboarding-related attrition from 12% to 5%. Key initiatives taken included process mapping, upgrades to the automated onboarding platform, standardization of procedures and staff training. Project outcomes were annual cost savings of INR 1.2 lacs, additional revenue of INR 8.4 lacs from reduced attrition and accelerated revenue recognition.
Business Excellence > Theory of Constraints
Resolving Production Constraints
A project on Theory of Constraints was carried out in the packaging department. A critical bottleneck was identified that limited overall production capacity by 20%. Key solution implemented was Drum-Buffer-Rope scheduling and optimized resource allocation to address the constraint. These measures increased throughput by 25%, eliminating the bottleneck and enhancing overall system performance. The project resulted in an additional INR 18 lacs in monthly revenue and improved delivery timelines.
Business Excellence > Creativity and Innovation
R&D/ Product Development > Creativity and InnovationRevitalizing Innovation Edge
A Creativity and Innovation project focused on developing a unique feature for the company’s wearable technology. Faced with stagnant innovation and declining market interest, the team invested in an innovation pipeline and idea management system. They launched brainstorming sessions and implemented an incentive program, generating over 100 viable ideas. One key innovation was a health-monitoring feature that differentiated the product in the market. This led to a 20% increase in sales, adding about INR 5 lakhs in revenue and revitalizing the company’s innovative edge.
R&D/ Product Development > Design FMEA
Designing Reliable Apps
A Design FMEA project was done for a technology product development company to understand and mitigate risks associated with launching a new user app, including potential security breaches, data loss, and system failures. Basis the risk assessment, team uncovered vulnerabilities in data encryption, user authentication, and load handling. They implemented advanced encryption protocols, multi-factor authentication, and fail-safe features like automatic backups and crash recovery systems. As a result, system reliability improved by 48%, and security incidents decreased by 60%. The project helped avoid potential losses exceeding INR 4.5 lacs from data breaches and downtime. This led to a more secure, reliable app with enhanced user trust and satisfaction.
R&D/ Product Development > Design Thinking
Business Excellence > Design ThinkingTransforming User Experience
A Design Thinking project was undertaken to innovate the user interface of the company’s flagship software, which users found unintuitive. The project team conducted empathy workshops to understand the need, emotions and pain points of the users. They employed rapid prototyping and iterative testing, resulting in a more user-friendly interface. Post-redesign, user satisfaction increased by 25%, and support tickets related to UI issues decreased by 40%, saving INR 2 lacs in support costs. The project fostered a user-centric design approach, driving higher engagement and adoption rates.
Designing for Customer Excellence
A DFSS Green Belt project focused on a new consumer electronics product using the QFD approach. The team developed a comprehensive QFD matrix to translate customer needs (the WHAT’s) into design specifications (the HOW’s). By prioritizing features based on customer importance, they aligned the product design accordingly. This led to a quicker TAT in the design with minimal reworks. The product launch was a success as there were orders worth INR 20 lacs received within 2 days. The standardized DFSS process ensured future products consistently met customer demands.
Discrete Manufacturing > Electronic and Electrical Equipment
R&D/ Product Development > DFSS
Lean Six Sigma > DFSS BBReducing Defects in System Design
A DFSS project was done to reduce the defect rates in the new HVAC system design. Initially, the design phase experienced a 15% defect rate, leading to increased rework costs of INR 1.2 lacs. The team implemented Design For Six Sigma methodologies and conducted a Voice of Customer (VoC) analysis. They redesigned critical components and introduced rigorous testing protocols. As a result, defect rates dropped to 5%, saving the company INR 3 lacs annually in rework and warranty costs. This project enhanced product reliability and aligned design processes with customer expectations.
Discrete Manufacturing > Electronic and Electrical Equipment
Digital Transformation > Digital Marketing and e-commerce
Sales & Marketing > Digital Marketing and e-commerceRevamping E-Commerce Experience
A digital transformation project was done for a skincare company to optimize the UX/UI of their e-commerce website. Tasks included conducting a survey of potential customers (who did not purchase from the website), data analytics for website responsiveness, decluttering the website, redesigning some pages to improve the user experience. By implementing responsive design, enhancing navigation, and reducing page load times the company halved its bounce rate from 60% to 30% and were able to improve the average session duration from 1.5 minutes to about 3 minutes. The project increased annual revenue by INR 55 lacs and an improved website ranking in Google Analytics.
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