Titan Company Limited. Innovation a way of Life ASQ 02/12/2017

Transcription

1 Titan Company Limited Innovation a way of Life ASQ 02/12/2017

2 Titan Today 5 th largest watch maker $6.5 bn market cap ~$2 bn annual revenue 4 times in Forbes Asia Fab Fifty 1366 stores with 1.8 mn sft retail space 11k+ mutli-brand outlets 7.5k+ employees on rolls 2

3 INNOVATION AT TITAN 3

4 INNOVATION HAPPENS WHEN Believe in the impossible Challenging questions Skill people Tools and Techniques Believe in your people Empowerment 4

5 Enablers of Innovation CULTURE Non hierarchical, informal, Open and transparent, Freedom to fail. PEOPLE Age and gender diversity. Talented and entrepreneurial workforce. PROCESS Generating and capturing ideas, Evaluation, Experimenting, Formal process for Cross Pollination, Measuring Innovation STRATEGY Innovation thrust in short and long term including an approach for identifying new opportunities, Review mechanism for innovation pipeline. 5

6 TITAN INNOVATION ENGINE PROCESS + TOOLKIT = Innovation as a way of Life 6

7 How we define Innovation Novel or Pioneering Processes, Products or Business Models that deliver Elevating Experiences for the people we touch or create Significant Impact & Value 7

8 Governing Structure Apex Council Innovation Champions Engine Drivers 8

9 TIE Process Flow Think Differently Do Differently Unlike Any other Challenges UnThink UnDo UnLike Challenge Identification IDEA Management IDEA Implementation Outcome Recognition Collecting Challenges/ Problems or Themes Upload challenge in the online platform Selection of Ideas or Projects Submission of Project for Evaluation Evaluating Challenges Inviting Ideas in response Formation of Functional teams / CFT s Present to Innovation Apex Council / External jury Collaboration / Crowdsourcing (voting, betting, enhancements, comments) Define Outcomes & Milestones Track & Review Progress & Impact Evaluation of Innovation outcomes Evaluation of Ideas Implementation 9

10 Innovation Enablers Innovation Bazaar InterWeave Ignitor Innovation newsletter Daily Mail on innovation 10

11 Enhance capability to innovate Innovation School Innovation Centre 11

12 Innovation School of Management 12

13 Idea Generation & Selection Seed Innovation Hub IITM Research Park CWS Innoverse Centre for Innovation and Technological Excellence Central Technology services What s New? Ignitor 13

14 Rewards & Recognition Dream Team Outstanding Titanian IScM Graduates MOF Innovista & External Awards 14

15 Measurement of innovation Employee Engagement Survey 15

16 TIE Toolkit Innovation Tools Challenge Scoping JTBD Provocation & Movement Ethnographic Interviews INJ SCAMPER Frame based Thinking Morphological Matrix Nine Windows UnThink CI Tools 5S 7QC Tools I (4) Control Chart Kaizen VSM Lean FMEA PDCA 7QC Tools II (3) Benchmarking Design Thinking Tools Visualization Journey Mapping Value Chain Analysis Mind Mapping Brain storming Concept Development Assumption Testing Rapid Prototyping Customer Co creation Learning Launch 16

17 EXAMPLES 17

18 IGNITOR Launch of Launch 700+ entries received Presentation to Board. 1 project selected 1 st Round 50 entries shortlisted Independent work on projects Presentation to Sr. Leaders. 3 projects shortlisted 2 nd round. 14 Projects shortlisted 18

19 Lens Analyser Matched to TUV standards Weight = 1.3 kg Rs. 6,810/ only TFT 2.8 Touch screen display Long Battery life: 15 days Self calibration Can test all forms Uncut lenses, Spectacles & Sunglasses

20 Mould Setting Conventional Setting 100 stones Conventional Conventional Setting 100 to 1500 stones 163 % Improvement No Rejections Patented Mould Setting 20

21 Virtual Stone Setting Conventional Setting 150 proto/month with 40 persons Conventional Virtual Stone Setting 150 to 1000 proto/month Patented Virtual Stone Setting 21

22 Diamond Bagging Automation Conventional Diamond Bagging Capacity per day 800 bags 40 people on the job Automatic Diamond Bagging Capacity per day 2500 bags 40 people redeployed Repetitive accuracy Diamond Bagging Automation Conventional 22

23 Diamond Bagging Automation 23

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34 Q & A SUMANT@TITAN.CO.IN 34