The auto components manufacturing industry has been one of the growing industries of India. Based on the research conducted by IBEF, the industry has expanded by the compound annual growth rate of 6% over 4 years between the financial year 2016 to 2020. This helped the industry reach USD 49.3bn in the financial year 2020. The industry also accounts for 2.3% of the nation’s total GDP.
Based on another research conducted by the Department for Promotion of Industry and Internal Trade (DPIIT), the industry stood at USD 24.53bn during the time span of April 2000 to June 2020. The industry is also gradually shifting and welcoming electric modes of transportation. The auto component industry of India is estimated to become the 3rd largest industry in the world by the year 2025 and to help the companies benefit from that, team Faber has been supporting India’s leading organisations in this industry with its Organisational Transformation Framework©.
Faber Infinite Consulting has been supporting the auto component manufacturing industry across the world, for more than a decade. We have supported leading players from the industry to achieve their desired goals and results, by delivering tangible benefits in the auto component industry as follows:
- Improved capacity by ~60% without CAPEX
- Improved overall productivity by ~20%
- Improved manpower productivity by ~21%
- Reduced labor cost by ~25%
- Reduced downtime by ~41%
- Improved MTBF by 36%
- Reduced changeover time by ~90%
- Space reduction in FG & RM inventory by 38%
- The improved value-added ratio for assembly line by 58%
- Saving in FG inventory by 35%
- Cash release by 28%
Typical improvement areas in the auto component industry are as follows:
- Potential to increase the production output Inventory management
- Efficiency improvement
- Increase in manpower productivity
- Improve machine availability and performance
- Elimination of non-value adding activities and inefficiencies
- Physical workplace improvement
- Improvement in people alignment and development
To reap the finest benefits from the sector, become a part of the growth journey. Contact us today to join the league at [email protected]
Written & Compiled by Faber Mayuri & Faber Priyal