Cutting through disruptions - Strategies for successful manufacturing
Disruptions are a part of every business's lifecycle, especially in today's highly dynamic business environment. While we cannot avoid disruptions, we can prepare for them and build resilience to bounce back. Let's consider India's manufacturing industry, which faced disruptions caused by the global landscape. However, it overcame all challenges through various strategies necessary for crisis mode. This involved implementing newer processes, leveraging digitisation, government initiatives, and resources.
At Runaya, we believe in building resilience and strategies that help us stay ahead of the game, no matter how stormy the external manufacturing weather gets. Here are some strategies we've adopted to ensure continued operations despite disruptions.
- Bolstering innovations
Industry 4.0 has increased the pace of evolution in the manufacturing industry. Conventional business and manufacturing practices are quickly becoming redundant. Companies that keep up with the changing landscape stand a better chance of survival and growth. This is where innovations come into play.
At Runaya, innovations are at the heart of our operations, purpose, and vision. We constantly research and develop to foster continuous innovations in our manufacturing operations, workflows, and overall approach.
Our Innovation Centre exemplifies our innovative approach towards handling disruptions and sailing through challenging times effortlessly. We also focus on the circular economy to save resources and money and handle uncertainties with ease. We develop processes to build new products that enhance the value recovered from waste and serve the metal industry.
- Strategic staffing
Staffing is no longer about hiring people and fulfilling positions. It has become a strategic angle for organisations. Hiring the right people and developing the capabilities of existing ones is crucial for sustenance and growth.
At Runaya, we've undertaken several HR initiatives to enhance employee engagement, improve employee skills, and build future leaders. Our Leadership Growth Programme focuses on creating leaders for tomorrow, while our Talent Review Council involves developing individual skills. R Connect provides direct interaction with mentors and identifies areas for individual improvement. Our Educational Sabbaticals allow employees to travel for further studies and develop skills to become better performers.
- Market position evaluation
Manufacturing is a constantly evolving horizon. Companies need to assess the situation and align with changes, including new opportunities, newly evolved threats, future strategies, and more. Accordingly, companies should continually evaluate their market position through research, development, and analytics.
At Runaya, we strive to keep up with the current environment and take futuristic initiatives. We develop value-added products, ensure continual product improvement, benchmark product performance, understand customer demands, keep ahead of market shifts, and implement technology changes. We have developed solid ESG policies and strategies that help us serve the environment, society and ensure appropriate governance as well.
- Contingency planning
A contingency plan helps companies respond effectively to future incidents that could impact operations. It aims to deal with uncertainties, which have become more concerning than ever - especially after the pandemic that exposed the unpreparedness of the corporate world.
Runaya's contingency planning involves building a pipeline of new leadership ready to take over operations, growth, and success. We believe in continuity and have put consistent effort into upskilling our existing workforce, identifying leaders among them, honing their leadership skills, and keeping the show running. Our Leadership from Within program identifies and nurtures high performers and develops leaders at the departmental and organizational levels. We have extensive and stringent criteria to promote capable employees as leaders.
Foresight is key
Manufacturing is an essential pillar of every economy. It generates employment and helps the nation grow on multiple fronts. Hence, a collaborative effort from every company to strive and strategize the continuity of operations despite disruptions can help the country grow seamlessly and accelerate its pace toward achieving the goal.