Engineered Plastics: A Breakthrough In The Automobile To Reduce Costs And Load Stress
Cost minimisation is the first requirement of any business to attain profits. With this sustainable growth approach, it becomes much easier for businesses to facilitate rapid growth with some decisions that make a great impact. Let us share some information regarding a similar project, which allowed us to enter a new domain and furthermore target new sectors and industry leaders in the same.
Company History
This company has been mainly indulged in the production of engineering plastics and possesses great potential for the coming decades. These plastics are made up of a series of ies, polymers that are lightweight, efficient, and have low friction quality. This is a great innovation that would display a massive impact on the entire manufacturing ecosystem, with greater benefits accruing to the automobile sector. Hence, it proves to be a perfect approach for cost minimization and innovation to streamline a greater impact.
The client was in the domain of production of engineered plastic components, largely for the automobile sector, which broadly consisted of interior design, exterior design, chassis parts, functional parts and a lot more. With its extensive research and development team they seek to develop the finest products for the market requirements.
Requirements
The company had worked in multiple segments and thus had a series of products that could be of great use in multiple industries. These new, optimised products with premium quality and flexibility are highly efficient and low maintenance, which propels their demand in the market. With such a wide range of products and quality assurance, the client wanted to provide its products to the Indian Railways.
Verkko 5 Step Approach
Verkko Group follows a 5 step procedure to ensure procedural and high customer satisfaction standards.
Step 1: Align The Meeting
A meeting was arranged with the experts of the railway sector and they analysed the requirement and potential of the company to grow in the particular domain. Well-listed requirements were obtained from the client’s end.
Step 2: Get The Team
The most suitable and experienced team members were brought together to curate the finest team as per client requirements. Soon things were in action and based on the actions, the most suitable model was proposed.
Step 3: Finalising The Model
Among various available business models, Business Collaboration was the most suitable one based on a series of pros, cons and analysis by the market research team.
Result: Business Collaboration
Step 4: Operations and Legal Team On The Move
Once the idea was pitched to the Indian Railways, a meeting was arranged and due diligence was carried out by the legal team. The project was then transferred to the operations team along with all the details and research on the same. The operation team facilitated a smooth workflow and successful completion of the project. Consequently, the deal turned out to be a great success.
Challenges Faced in the Project
- Connecting with The Indian Railways
- Our team had a bit of trouble connecting with the right stakeholders of the Indian Railways and approaching the client project. However, once the meeting was arranged and the approach strategy was discussed, things were in smooth flow.
- Due Diligence
- Our team had to go through loads of paperwork as there were multiple regulations (product as well as processes) and diligence requirements to facilitate the deal with the Indian Railways.
Step 5: Successful Completion Photograph With The Client Company
Once all the preliminary requirements were fulfilled and the execution strategy was in motion, it was time for a successful completion photograph. With a lot of hard work, expertise, experience, and responsibility, this deal was completed within the turnaround time; adding another gem to the Verkko Group’s portfolio.