A: “The scope for innovation is available but limited. Since, we get continuous contracts and orders that are spread over months, it provides us with very little time to innovate. Moreover in small and medium business (SMBs), much of the time is spent in scheduling, designing and executing manufacturing processes.”
“Designing is a costly affair which most SMBs don’t venture upon. Although innovations should be the ideal path for growth, we are particularly limited due to the lack of resources such as workforce ability, time and capital.”
“Cost reduction is absolutely on the charts. In our company, we employ a variety of lean manufacturing and six sigma concepts. SMB entrepreneurs need to be really lucky to get people with such backgrounds. In my case, my daughter, a Masters graduate in Industrial Engineering from the University at Buffalo, New York with two years experience in lean manufacturing in the US, moved back to India to join me in improving management and growth processes.”
D. Sundar, MD, Mahalakshmi Tools & Machinery Pvt Ltd.
In an e-mail interview.