Godrej Interio - New product initiatives

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Godrej Interio (NPD) | Enabling rapid new product development

Godrej

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Godrej Interio's NPD Transformation: Reduced development 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

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 gained a 25% jump in overall sales and a massive 100% increase in dealer network sales.

Godrej Storage Solutions

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

Godrej 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 Division

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.

Industries

Engineering & Construction

After implementation, production time dropped by 50%, and profits increased by 4x for 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, improved its OTIF to 90%, and had a strong 25% Y-o-Y 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 Spares & Services operations; they improved service levels without increasing fixed costs and reduced consumer complaints by 55%.

Godrej Interio - Service and Spares

Godrej Interio's service division transformed spares & services operations; they improved service levels without increasing fixed costs and reduced consumer complaints by 55%.

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 home and institutional segments. Products range from chairs, sofas, and wardrobes to office cubicles and healthcare products like ICU beds. , The company is present in all major cities in India, with 52 company-owned stores and over 800 dealers.&nbsp;To stay ahead in the market, Godrej Interio’s NPI (New Product Initiatives) division continuously designs and manufactures new and innovative products that emphasise comfort and aesthetics while delivering environment-friendly, durable and functional furniture solutions. Some of these are lower-complexity projects with lower lead times, and others are high-complexity projects &nbsp;that take longer to complete. In either case, while this entirely new product development happens in-house, manufacturing the newly developed products requires support &nbsp;from in-house manufacturing plants &nbsp;and more than 300 vendors (domestic &amp; international). Therefore, as in most NPD organisations, there were interruptions, frequent rework and significant delays in the development and launch of products (delays to more than one year from the planned launch date in few cases). Consequently, the company was experiencing year-on-year drop in output and a low contribution of new products to sales.&nbsp;To overcome these problems, the company implemented a rapid R&amp;D solution approach. The target was to increase the output of new products from the R&amp;D pipeline while reducing development lead time and variability. This was important to achieve since the company’s B2C business heavily relied on seasonal and festival demand. So, faster launches to meet market needs are as important as launching near the season with minimum variation.&nbsp;The table below summarises some of the results achieved after two years of implementation (in 2019-20 &amp; 2020-21):<figure class="image"><img style="aspect-ratio:916/833;" src="https://web-assets.vectorconsulting.in/storage/editor_uploads//image-1720244827_1777283366.png" width="916" height="833"></figure>

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 home and institutional segments. Products range from chairs, sofas, and wardrobes to office cubicles and healthcare products like ICU beds. , The company is present in all major cities in India, with 52 company-owned stores and over 800 dealers.&nbsp;To stay ahead in the market, Godrej Interio’s NPI (New Product Initiatives) division continuously designs and manufactures new and innovative products that emphasise comfort and aesthetics while delivering environment-friendly, durable and functional furniture solutions. Some of these are lower-complexity projects with lower lead times, and others are high-complexity projects &nbsp;that take longer to complete. In either case, while this entirely new product development happens in-house, manufacturing the newly developed products requires support &nbsp;from in-house manufacturing plants &nbsp;and more than 300 vendors (domestic &amp; international). Therefore, as in most NPD organisations, there were interruptions, frequent rework and significant delays in the development and launch of products (delays to more than one year from the planned launch date in few cases). Consequently, the company was experiencing year-on-year drop in output and a low contribution of new products to sales.&nbsp;To overcome these problems, the company implemented a rapid R&amp;D solution approach. The target was to increase the output of new products from the R&amp;D pipeline while reducing development lead time and variability. This was important to achieve since the company’s B2C business heavily relied on seasonal and festival demand. So, faster launches to meet market needs are as important as launching near the season with minimum variation.&nbsp;The table below summarises some of the results achieved after two years of implementation (in 2019-20 &amp; 2020-21):<figure class="image"><img style="aspect-ratio:916/833;" src="https://web-assets.vectorconsulting.in/storage/editor_uploads//image-1720244827_1777283355.png" width="916" height="833"></figure>

Learn how Vector Consulting helped Godrej Interio boost new product output and reduce development lead times using TOC principles, enhancing market responsiveness.