Operations Improvement Road Map Development for Indian operations of one of the biggest U.S.A based Diamond Grading Firm
Title: Aqua MCG identified areas for Operations Improvement and Lean introduction to facilitate reduction in lead times, operations scale up, and enhance Operational performance (throughput rate, quality)
Background:
- The client is a multi-national organization, standing today as a pre-eminent corporate entity in Diamond grading and gem certification. Indian operations add up to USD 100 million in revenues with 500+ people
- They provide best in class diamond grading services and have more than 70% market share in India.
- They have been growing by more than 15% every year.
- We were chosen by the client to evaluate the existing operations based on our strengths in strategy consulting, supply chain consulting and organization design & setup
Business Scenario:
- The company’s Indian operations set up were not able to cater to the demand in the market. 40% of the diamonds were being sent to company’s foreign labs in South East Asia and U.S.A adding significantly to the overall operational costs and lead times for grading.
- The client was finding it difficult to maintain cycle times and increase through put rate with its current operations set up because of which client was losing on significant business opportunity.
Our Solution:
- We conducted a Diagnostic study at the Client site where we did the following:
- Understand the business objectives and link it with well defined operational objectives
- Map out the As-Is diamond grading process and identify critical operational gaps.
- Asses non-value add time, process maturity from lean perspective and define scope for improvement
- Draw an operations improvement strategy to target the above areas.
Benefits:
- Clear understanding of the existing operational gaps; providing client with focus areas for improvement.
- Strategy and roadmap for improving operational costs and enhancing performance using lean methods