Challenge faced: Business control Management instead of Management controlling Business.
Our Client manufactures gold jewelry and makes finished items such as Bangles, Half-Set, Haram, Chains, Rings, Earrings, Mangal Sutra, Necklace catering to the big brands. They plan to expand into diamond jewelry manufacturing along with launching their own brand and retail chains. At present they are having two manufacturing units and wanted Mindstone to replicate good practices from the old plant to the new manufacturing unit which would cater to the expansion plan. They also wanted Mindstone to advise them on Corporate Governance of the new entity along with investment advisory around the same with a revamped business model. The project was commissioned wherein Mindstone did the value stream mapping of the old plant and isolated the good practices which were implemented in a planned & phased manner in the new plant. Mindstone’s proprietary Production Planning and Control (PPC) Tool was installed for effective scheduling, monitoring and execution of job-works in the new plant. This exercise is yet to be finished, but a revamped business model that shifts the focus from job-work based manufacturing to owned-inventory based manufacturing is completed.