Message from the CE of Audco India Limited
There seems to be excess capacity in the valve industry around the world. The competition is severe. Due to high costs, some companies in the western world will move their production to developing countries and particularly to China, where the cost is currently very low.
The Indian industry is not cost efficient. The industries were set up on the basis of licensing without taking optimum volumes into consideration. This has led to creation of a number of manufacturing units. Global competition will ultimately lead to survival of the fittest.
It is essential to continuously reduce cost, work on high volumes to be on par with international companies, and go up in value chain by introducing special applications, customisation, etc. Improved design, new product introduction and high customer satisfaction will be the key factors for success in business.
Manufacturing companies need to be close to the customer right from product design to shipment thus avoiding non-value-added activities.
India is on the threshold of IT revolution. We should make full use of IT to network our stockists, major customers and vendors towards working together efficiently. E-commerce will become a normal way of conducting business in the near future. All these should lead to customer delight.
Export is a clear indication of competitiveness, quality of its products and overall rating of a company. We have targeted large increases in our exports. We have already laid a foundation with important customer approvals like Shell, Exxon, Mobil, Texaco, Arco, Aramco, etc. for our GGC valves. This will lead us to meet our export growth, provided we keep a clear focus on customer needs for QUALITY, DELIVERY and PRICE.
The new millennium is expected to usher in a class of industries which will be globally successful with high shareholder value through: information revolution world class manufacturing global souring and supply high customer satisfaction
I am sure, ours will be one. ish You a Happy & Prosperous New Year 2000. Regards.