About this Presentation
This webinar deals with the real time application of the TOC approach in contract management , in a trading organization, to have a better control over the vendor (manufacturer), smooth flow of contract management processes and ensure customer satisfaction. The webinar is organized as follows: 1. Background of the organization; 2. Processes involved in contract management; 3. Issue analysis; 4. TOC approach; 5. Results; and 6. Q&A. The organization setup includes: G-MAC Limited is a multi-billion dollar company in India, which has a diversified portfolio for the past 3 decades. V-MAC Limited is a 50:50 joint venture manufacturing organization between G-MAC Ltd and a foreign firm. Business Setup is: G-MAC Limited functions as a trading organization which markets the products manufactured by V-MAC Limited, in India and abroad. The scope of GMAC Limited is: Promotes & markets V-MAC products; Receives orders/contracts from clients and places the same on V-MAC Limited; and Manages & executes the complete order / contract in liaison with the customer and V-MAC Limited. The contract management process is: 1. Order placement by the customer; 2. Order placement on V-MAC Limited by GMAC sales team; 3. Order handover process between sales team and contract management team , in GMAC Limited; 4. CMT starts the communication channel with the customer and VMAC sales coordination team; 5. Technical document submission for approval; 6. Weekly status report update submission; 7. Ensure material readiness, inspection and dispatch; 8. Post dispatch document submission (invoice, BoL etc.); 9. Manufacturing data record submission (test results, parameter list, Process record etc.); and 10. Payment followup. This process typically took 24 weeks. Using the evaporating cloud technique to examine undesirable effects in the process this time was reduced by 75%.
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
Instructor(s)
Jennifer Eckman
Ms Alka Wadhwa
Alka Wadhwa is an experienced consultant and process improvement expert with over 24 years of expertise in the Theory of Constraints (TOC), Lean Six Sigma, and organizational performance optimization. She has successfully led projects in healthcare, financial services, and manufacturing, driving significant improvements such as a 67% boost in hospital operations and a 140% increase in outpatient visits.
Previously, Alka Wadhwa spent 17+ years at GE Global Research Center, where she led initiatives to enhance various GE businesses through advanced technologies, process redesign, and system optimization. Founder of Better Solutions Consulting, LLC, she specializes in using TOC, Six Sigma, and data analytics to streamline operations and build high-performance teams.
Her work has earned her multiple accolades, including the Empire State Award of Excellence in healthcare.
Dr Gary Wadhwa
Dr. Gary Wadhwa is a Board Certified Oral & Maxillofacial Surgeon with extensive experience in the field. He completed his Oral & Maxillofacial Surgery training at Montefiore Hospital, Albert Einstein College of Medicine in Bronx, NY, and has served as an Attending at prestigious institutions like St. Peters Hospitals, Ellis Hospital, and Beth Israel Hospital in NY. With a career spanning over two decades, he was the former CEO and President of a group specialty practice in NY from 1994 to 2015. Dr. Wadhwa holds an MBA from UT at Knoxville, TN, and has undergone additional training in System Dynamics at MIT, Health System Management at Harvard Business School, and Entrepreneurship and healthcare innovations at Columbia Business School. Committed to expanding access to Oral & Maxillofacial Surgery care, he is currently engaged in a meaningful project to provide healthcare services to underserved populations in inner city and rural areas through non-profit Community Health Centers.