Titan - The Outsourcing Journey
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BACKGROUND NOTE contd...
From the very beginning, Titan had used cost cutting as a means to achieve
competitiveness and improve profitability. It realized that sustained
advantage in the marketplace could be achieved only by keeping costs low and
launching innovative/technologically superior products.
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To improve productivity, quality and safety, Titan automated select manual
and semi-automatic operations in movement and case manufacturing. Titan had
always implemented World Class Manufacturing (WCM) practices that helped
keep costs under control.
As part of the WCM initiatives, Titan implemented
practices such as Just-In-Time Manufacturing, Total Productive Maintenance
and Total Quality Control. In 1996, Titan increased the Hosur plant's
capacity to cater to the growing domestic and international demand from
3.5 million to 4.18 million units per annum. |
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In 1997, the company launched its own range of table clocks to cash
in on the fact that there were no branded players in the segment.
In the same year, it began to manufacture watches for
several prestigious international brands. In 1998, Titan decided to
discontinue the joint venture arrangement with Timex due to certain
differences.
In the same year, it increased the capacity of the Hosur
plant to 5 million watches.
Titan sold its products through a network of exclusive Titan showrooms
called, ‘The World of Titan'and ‘Time Zone,'a multi-brand watch
showroom selling premium domestic and international brands, in addition
to over 5500 dealer networks across 1400 towns in India.
In its efforts towards developing its export markets, Titan started selling
its products in over 40 European, West Asian and South East Asian markets
through its subsidiaries in London, Singapore and Dubai.
INDIAN WATCH INDUSTRY - KEY STATISTICS
ABOUT OUTSOURCING
THE ESSENTIALS OF OUTSOURCING
OUTSOURCING AT TITAN
TABLE V - TITAN - KEY STATISTICS
THE FUTURE
EXHIBIT I - TITAN - PRODUCT PROFILE
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