Product/ Process
With integrated supply chain as a strategic advantage to balance between making in-house and outsourcing, the company is able to ensure the reach of its products across markets efficiently and in a timely manner at optimum cost. The primary focus has always been to build a sustainable and agile integrated supply chain ecosystem in India. The company treats vendors, subcontractors, etc. as strategic partners in its supply chain. The company ensures responsible business, replenishment/analytics-based planning, stock supply visibility with all its key vendors.
All divisions of the company have robust vendor assessment, selection, vendor management and periodic vendor evaluation processes in place. Good governance is ensured by making sure each vendor and supplier is made aware of and adheres to the requirements of the Tata Code of Conduct. Vendors and suppliers are both recognised for good performance and also in the odd occasions pulled up for non-performance to encourage constant improvement and excellence. Key parameters that are reinforced constantly include requirements of environment compliances, safety, governance and ethics of the highest order and any other compliances pertaining to legal and regulatory requirements. Below paragraphs highlight two significant efforts in the supply chain journey of the company that have not only gone on to create sustainable.
Social business entities, but have also created a benchmark of sorts in the Indian Industry:
a) Women Self-Help Groups for outsourcing/subcontracting Operations (Project MEADOW),
b) Karigar transformation story, responsible sourcing journey of the jewellery division.
Project MEADOW - creation of sustainable social business model MEADOW (Management of Enterprise and Development of Women) an initiative of the NGO, MYRADA in collaboration with Titan, is an inclusive growth program started with about 24 women and today employs over 400+ rural women in and around Hosur. MEADOW Rural enterprises was incorporated in the year 1998.
Uneducated young women, widows and single mothers are primarily given employment in MEADOW. MEADOW operates as a vendor for three manufacturing Divisions (Watches, Jewellery and TEAL). MEADOW started its association with Titan in a small way when Titan decided to outsource assembling of watch straps. Titan not only trained them in the assembly of links, but also in managerial functions like Planning, Production, Accounting, Lean, Business Awareness, Technical Skilling, Costing, etc. MEADOW employs around 40% of its employees from Affirmative Action community.
