Hercules Hoists Limited is a part of leading industrial conglomerate Bajaj Group which manufactures to order industrial material handling solutions for lifting, moving and storing. Hoisting solutions marketed under the brand Indef are market leaders in that category.
The company entered into an engagement with Vector in Sept 2016 in order to overcome emergent challenges of poor reliability of delivery, stagnant sales, and working capital crunch. After first freeing up the necessary cash from operations and abating the working capital crunch, production was streamlined by implementing Theory of constraints based “pull” manufacturing processes and taking steps to win back vendor confidence. A sales flow management process was also put in place to increase bandwidth and effectiveness of the sales team. Consequently, the overall profitability improved along with other operational and financial parameters: