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Varroc Business Partner Meet (2010~11)
Varroc Business Partner Meet was held on 4th & 5th Feb 2011 at Aamby Valley City. The Meet was divided in two days, the first day comprising of the Gala function and Business Conference on the second day. Entertainment in the form of Rock Show, Laser Show and the Fire Act was arranged in the gala function. Main attraction of the evening was the Varroc Story depicting the exponential growth of Varroc by Lasers in the most captivating way.
The Business Conference on the second day had Mr. Tarang Jain and Mr. MP Sharma as the host speakers and Dr. R K Pillai as the Guest Speaker. The extracts from their sessions are as below.
Mr. MP Sharma
AVP – Corporate Materials,
Varroc Group.
The Welcome Address was given by Mr. M P Sharma, AVP- Corporate Materials. His presentation had given insights on growth of the group from the Last Business Partner Meet. Varroc Group has been consistently growing over the years, has a CAGR of 35% and majority of the OEMs as its customers. He shared the new project plan of the 6 cylinder crankshaft emphasizing on Varroc Groups continuous quest to take on challenges and perform against all odds. He then declared the theme of “Sustaining Excellence”, on which he mentioned “Sustained excellence rarely happens by chance. It is generally the result of a definite vision, clear goals, careful planning, and a commitment to follow through. It often requires a willingness to embrace ambiguity, persist in the face of disappointments, adapt as necessary”. Later on he explained the Automotive Industry Market followed by the strategy adopted by Varroc Group for business prospects in the coming years giving path to Business Partners for their growth too. He discussed the Procurement trends and in view of the Varroc Group growth he asserted; the procurement is set to increase by approx. 50% in the next two years. He affirmed Mission 100 Crores i.e. the outsourcing plan of Varroc Group for the FY 2011-2012. Also briefed about benefits to business partners, selection criteria and the areas of outsourcing were mentioned. Furthermore he urged the Business Partners to focus on concept of Local Warehousing which will help the company to adhere to “Just in Time” practice and will further validate the “Vendor Managed Inventory” practice. Later he mentioned expectations of Varroc Group from its esteemed Business Partners on the key parameters:
P- Productivity, Q- Quality
C- Cost, D- Delivery
S- Safety, M-Motivation
He also shared the new VA/VE policy wherein he affirmed for jointly distribution the benefit with Business Partners.
In his concluding speech, he emphasizes on the biggest challenge among all of us, Global Warming & the remedy action plan. He also shared the various actions adapted by Varroc Group to bring the change in the surrounding, the change Group wishes to see in the world.
Mr. Tarang Jain
Managing Director,
Varroc Group.
Managing Director, Mr. Tarang Jain in his keynote, addressed problems of the global economy that are likely to impinge on India’s growth and financial markets. He briefed about the adverse impact of recession and inflation on local consumption. Thereafter explained how rampant corruption environmentally related projects being stalled in the country are affecting the foreign investments.
Speaking on growth of the Indian Automotive Industry, he quoted Vision 2020 of ACMA and also emphasized the need for investments by the Auto Component Sector in the coming years, to meet the market demands.
He then elaborated on the challenges in front of us - The Indian Auto Component Industry:
- Scaling up: i.e. ability to sustain profit margins and make investments.
- Ability to execute these investments in time for the OEMs.
- The problem of availability of skilled manpower in the shop floor to manage the exponential growth
- Ability to attract & retain managerial talent to manage not only existing, but future growth as well.
- Ability for Indian companies to move up the value chain in technology terms.
- Oil scarcity & growing environmental consciousness are main trend drivers which will divert focus on fuel efficiencies e.g. weight reduction and improvement in engine related component technologies.
- Due to increasing traffic density and number of road fatalities improvement on safety characteristics of existing components i.e. development of new materials & technologies to address safety requirements of customers.
- Shift towards smaller car in high growth BRIC markets means development of high quality components with affordability.
- Meeting expectation of living room atmosphere & always an attitude requires new approaches towards comfort & connectivity solutions.
- Government ability to provide the promised improved infrastructure in time i.e. roads, power, less congested ports etc. which will help reduce the prices of products of auto component companies to the auto OEMs
- Rising imports from China which has risen to US$ 809 m last year & growing exponentially.
Speaking about company’s vision, he assured growth of Business Partners along with Varroc. He shared the group plans for achieving Mission 4000 Crores by FY12-13 and future business strategies for positioning of Varroc Group in this dynamic and ever demanding automotive sector. He concluded by thanking all the Business partners for their dedication and continuous support for achieving stature of Varroc Group as it is today.
Dr. R K Pillai
Director
Chanakya Institute of Public Leadership
The session of Dr.R.K.Pillai, the celebrated author of the National Bestseller- Corporate Chanakya, was on “Chanakya & Indian Management”. He explained various Chanakya Sutras and their importance in business. He valued the theme of “Sustaining Excellence” as Sustenance, is the key to success in any business venture. Varroc Groups core values - Sincerity, Humility, Integrity, Passion and Self-Discipline have played a key role in its success, was his observation. He also discussed in detail how each value has been significant and their combination has made Varroc a Global organization. The audience was mesmerized with his deep study on the subject and enchanted with the ease, in which he explained in detail how the Sutras developed by Chanakya, centuries ago, are still implemented by us sub-consciously. At the end of the session everyone could feel the impact Chanakya has had in our Business. It was an exceedingly informative session and was well appreciated by everyone present in the conference.
After the sessions it was time for the most awaiting moment for Business Partners, i.e. declaration of the Annual Awards. The awards were divided in two major categories, Long Term Association Award & the Excellence Awards - which were further sub-divided into Gold, Silver & Bronze. The awards were presented by
Mr. Tarang Jain (Managing Director, Varroc Group, Mr. S.N.Patil (Sr. Vice President – Varroc Polymers Pvt. Ltd.), Mr. Sanjeev Kumar (President – Varroc Engineering Pvt. Ltd.) and Mr. MP Sharma (Associate Vice President – Corporate Materials, Varroc Group).
The highest category Gold awards are won by M/s HUNTSMAN INTERNATIONAL (INDIA) PVT.LTD. & M/s ASCENT CIRCUITS PVT. LTD.
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