Financial Daily from THE HINDU group of publications
Thursday, Jan 20, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 20, 2005 |
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Corporate
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Awards & Honours Kaizen award for Milton Plastics Our Bureau
Pune , Jan. 19 MILTON Plastics Ltd has been chosen by the Kaizen Institute, Japan for the first ever Kaizen award on the global level. The award is being instituted this year and is applicable for companies situated outside Japan and those who follow the Kaizen policy to the maximum, said Mr Sensai Masaaki Imai, Founder Chairman, Kaizen Institute, Japan.He inaugurated on Tuesday the Kaizen Mela 2005 in the city, jointly organised by Nagar Road Industries Chamber of Commerce & Agriculture (NRICCA) and the Kaizen Institute, Japan.
The award would be presented in the form of a certification from the Kaizen Institute. Addressing mediapersons, Mr Yogesh Vaghani, Managing Director, Milton Plastics Ltd and Chairman of NRICCA, said Milton had started practicing Kaizen in 1997 and since then had been able to reduce throughput time remarkably (throughput time is the time required from getting the customer's order to shipping the finished products to him) by around 90 per cent. The throughput time in 1997 was 10 days, which has come down to one or even half a day, he said. Mr Vaghani said the inventory levels had come down by around 60 per cent and added that for the current fiscal ending March 2005 the company is expecting a turnover of around Rs 230 crore as against Rs 200 crore last fiscal. Mr H.P. Srivastava, Vice-Chairman, NRICCA, said there was good response for the Best Case Paper award that has been organised during the Kaizen Mela 2005, where over 25 companies from Gujarat and Maharashtra are taking part. The winner and the runner up would get a cash prize of Rs 21,000 and Rs 11,000 respectively. Over 325 representatives of different companies are participating in the mela.
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