About this Presentation
The presentation discusses the core problem and direction of the solution for the new product development of tier 1 / tier 2 suppliers in automotive industries whose primary job is to develop and supply new components for the original equipment manufacturers (OEMs). The goal of the presentation is to derive the core problem of the tier 1 / tier 2 suppliers for their new product development team and establish a direction of solution, which can help them to improve their delivery performance of new products at a faster rate. The new product development management of the tier 1 / tier 2 suppliers is a challenging environment where critical chain project management (CCPM) rules cannot be directly implemented on the projects. The definition of what is a project holds key to the solution. The logical entity of the projects on which the role of work in process (WIP), full kitting, planning and execution can be implemented is defined as independent work packets. Once the work packets are defined and CCPM rules are applied on these project entities, the output of the new product development (NPD) team increases substantially, leading to a drastic reduction in lead times and timely delivery of the overall projects. The presentation establishes that the current problems faced by the NPD team of tier 1 and tier 2 suppliers are related to the ways OEMs are currently managing their development projects. The interaction between the single multi-project environment of the OEMs and the multi-project environment of the suppliers, as well as an ineffective concurrent engineering model followed by the OEMs play havoc on the suppliers are discussed. They are forced to live in a situation with a huge number of unfinished projects, rampant changes of priorities, unexpected iterations and heavy reworks in their system. The direction of the solution is to break each of the NPD projects into logically independent work packets (a portion of the whole project which can be started and finished without any interruptions from the OEMs) and to implement the CCPM rules, e.g., low WIP, full-kit, planning and execution on those work packets to increase its output. A case study is also presented where the output increased by 8 times within 3 years of implementation.
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)
Satyashri Mohanty
Mr. Satyashri Mohanty is a founding director of Vector Consulting Group. A proud alumnus of NIT Rourkela, and Xavier Institute of Management, he has a rich experience of more than 22 years in the industry and as a consultant. Known for his passion for solving wicked problems in project management, operations and supply chain, Mr. Mohanty has worked with various clients helping them continually invent and implement pathbreaking solutions for chronic industry issues. He has also co-authored the management novel, “Apparent in Hindsight”, which delves into the why and how of implementing Theory Of Constraints in manufacturing operations.
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.