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Tamil Nadu
Pricol, Indian Bank, LIBA win MMA awards
Our Bureau
Chennai
,
July 14
Pricol Ltd, Indian Bank and Loyola Institute of Business Administration have bagged the managerial excellence awards of the Madras Management Association in manufacturing, services and education categories respectively. The awards, the fifth since its inception, were given away today.
The three organisations made presentations, describing the practices they had adopted that possibly made them winners in the respective categories.
Mr K. Udhay Kumar, Senior Vice-President, Product Development and Materials, Pricol, mentioned implementing a detailed quality management system as one of the reasons for their efficiency. Using technology to create a central database to store records, providing vendor assistance through online B2B communication and periodic managerial reviews were some of the measures implemented by them to reduce their inventory cost and improve throughput.
Indian Bank was represented by a team of managers who talked of how the bank had achieved a turnaround after being incurring losses of over Rs 3,800 crore through the 1990s. They mentioned creating plans for capital restructuring, business targets, technology upgradation and voluntary retirement scheme that helped in improving the functioning of the bank.
LIBA said three vision drivers - growing big and striving for excellence, moral and emotional intelligence and spreading knowledge were key to its growth. Industry interaction and customised programmes apart from socially responsible business training were mentioned as reasons for the institute being recognised by the industry.
The event was supported by Ashok Leyland and Deloitte Touche and Tohmatsu India Pvt Ltd acted as consultants in choosing the awardees.
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