CEO Meet finds good resilience among manufacturers

IVAMA Association: CEO Meet finds good resilience among manufacturers on current COVID situation

As the second wave of COVID19 infection is spreading across the country, state after state is announcing restrictions or lockdown even though a nationwide lockdown has been avoided. The outbreak is no longer concentrated in a few states or even in urban areas as were earlier thought. As the wave spreads, the Indian economy will likely see a sequential contraction in the April-June quarter. The impact is expected to be diverse, non-concurrent and hopefully less enduring but it will not be trivial
 
^CEO Meet finds good resilience among manufacturers 

Article by David Sear
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The crucial question, therefore, is what organizations can do now that will help them have a quick and clean recovery once the pandemic has run its course. Hence it was felt appropriate to have a virtual CEO Meet of members of IVAMA Association on 07th May 2021. The agenda of the meet was to discuss and share their experiences on: 

• Various aspects of the current COVID situation (second wave): 

° Customers: order flow; impact on export orders 

° Supply chain delivery; subcontract; price 

° Employees: work from home; productivity; health and safety 

• Remedial actions that can be taken 

• Way forward

Mr. Arvind Goel, Chairman of the association and Managing Director of Auma India gave introduction to the CEO Meet. Mr. Ramesh Babu, Director of the association and Managing Director of Velan Valves set the context. There were good level of active participation from CEOs - Mr. Amit Shah, Managing Director of Rotex, Mr. Ashish Bajoria, Managing Director of J D Jones, Mr. Abdul Gomaz, Managing Director of SchuF Speciality Valves, Mr. Karthik Udayakumar, Director of Servo Hydraulics, Mr. Gerard Pinto, President of Horizon Polymer, Mr. Govindarajan, Managing Director of Flow Link, Mr. Senthil Ramanathan, Country Director of Rotork Controls, Mr. Ravi, Procurement Manager of Cameron Schlumberger, Mr. Ravi Doshi, Director of Oswal Industries, Mr. Ravikumar, AGM of C.R.I.

Pumps, Mr. Sriram Ramdass, Managing Director of SRK Polymers, Mr. Tilak Vikamshi, Chairman of Microfinish Valves, Mr. Vinayak Lokur, CEO of Expert Valve and Mr. Jyoti Anand, Director of PJ Valves. 

Many positive experiences were shared: 

• Experience gained in earlier lockdown helped all companies to cope up with current situation 

• Most of the members mentioned that order flow is good 

• Focused online meeting with customers helped to keep them happy 

• Extensive online marketing helped to get more customers 

• Working from home is more effective for most of office functions 

• Strict SOP is in place to avoid infection 

• Many companies have arranged Mediclaim to cover COVID treatment cost; some of them have procured oxygen concentrators to loan to employees; trying to arrange vaccination • Introduced ‘bubble’ concept to contain infection. Antigen test on Monday morning

• Audits/recertifications have been carried out remotely. 'However, there were some hardships experienced by some of the members: 

• Rampant price increase in raw materials and in some cases, the increase is quite steep (30 to 40%) 

• Disruption of supply chain and subcontract 

• Stoppage of oxygen to foundries and other industries has greatly affected supply 

• Infection was noticed more on office staff compared to shopfloor employees 

• Freight charges have gone up considerably and there is inordinate delay 

• Additional cost incurred due to raw materials, freight, forex, etc. could not passed onto the customers and affecting margins 

• Uncertainty and fear are affecting mental health of employees 

• Reluctance of employees to get vaccinated 

• Big hit is training; development; onboarding of new employees

• Arranging Third Party Inspection is becoming difficult 

• International customers have concern and apprehension in giving fresh orders to Indian manufacturers; they may shift to other countries.

Mr. R Muruganantham, Director General of IVAMA Association informed participants that Technology Summit in physical format was planned in July 2021 to promote enhancing manufacturing capability of members; networking among members; supply chain, technology excellence and skill development. However, as the situation is not conducive now, this will be announced in due course of time.

Membership is available to valve and actuator manufacturers, supply chain companies and engineering back offices. Interested companies may register for membership by logging on the website (https://www.ivama.in/register).

R Muruganantham, Director General, IVAMA Association, www.ivama.in; Admin@ivama.in, +91 9841289271.
 

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