TITAN INDUSTRIES LIMITED

Submitted by

Submitted by

Sagar Naik (21020141186)

Roll NO. 44286

HR-D

The significance and the application of the operations strategy

OCTOBER 21, 2021

Titan's operational environment has been quite positive, with excellent growth in all of the
main verticals. The jewelry industry had excellent expansion and increased market share. The
watches segment increased sales by double digits, owing to volume growth across all brands
and a solid contribution from smart watches and wearables. In the case of eyeglasses, our
strategy of increasing selection at lower price points has been effective. We have also been
actively interacting with customers and improving our core proposition in our new verticals
of Fragrances and Sarees.
Over the last ten years, the Company's Eyewear Division has rapidly expanded its operations,
with 537 retail stores, 3.8 lakh square feet of retail space, 3,700 sunglass dealers, 1,550 frame
dealers, 5 online platforms, 3.5 million customers per year, an integrated state-of-the-art lens
and frame manufacturing facility outside Bengaluru, and satellite lens manufacturing
facilities in Calcutta, Mumbai, Bengaluru, and Delhi at the end of fiscal year.

Table of contents
Executive Summary ................................................................................................................................ 1
Introduction ....................................................................................................................................... 1
Observation and data analysis ..................................................................................................... 2
Recommendations ..................................................................................................................... 5
Conclusion ............................................................................................................................. 5
............................................................................................................................................. 6
References .......................................................................................................................... 6

Introduction
• The Company strives for the greatest levels of openness, accountability, and equity in
its operations, resulting in the highest levels of Corporate Governance. The Tata Code
of Conduct has helped to enhance the Company's Corporate Governance concept.
Titan implements corporate governance through strong board governance processes,
an internal control system and processes, and rigorous audit systems. Titan is a
Customer Oriented NPD which believes in being driven mostly by the consumer
rather than the competitor. It has introduced a number of new items. They have
worked hard to understand their clients' specific demands and have created a varied

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 range of items to fit various lifestyle choices and fulfil unique needs. It has various
segments as shown below

Importance of operation strategy in Titan includes

2.Focusing on Production/Making and Service Facilities

3.Product/Service Design and Development

4. Technology Selection and Process Development

5. Allocation of Resources

6. Capacity, Facility, and Layout Planning

Observation and data analysis

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• Idea sourcing and selection- The firm solicits recommendations for improvement
through both official and informal methods (consultants and management-oriented
top-down techniques). Short-term and long-term priorities are balanced in the
approach to innovation project selection. The firm employs traditional approaches to
find new product ideas in a methodical manner.
• Flexible operation- To adapt to changing consumer needs, operations have been
made more flexible. Deviations from established procedures are authorized to allow
for the realization of specific projects.
• In order to achieve strategic advantage through our integrated supply chain, the
company has an effective supply chain model supported by strong distribution
network. This ensures reliable supply of our products and services to customers in
expanding geographies. With robust processes in place across the supply chain, we
are able to maintain and grow customer confidence. Our primary focus is to build a
sustainable and agile integrated supply chain ecosystem in India. The Company
treats vendors, sub-contractors, etc. as partners in supply chain. We ensure
responsible business and supply chain practices are in place in order to move towards
supply chain sustainability.
• Titan has well-defined policies to promote the well-being of all its employees that not
only support employee welfare but also enable his / her enhanced engagement with
the Company. All the locations of the Company are certified under Occupational
Health and Safety Assessment Series (OSHAS) standards. Most divisions are also
certified under Quality Management System (QMS) and Environmental Management
System (EMS) standards.
• Titan Engineering & Automation Limited (TEAL), a wholly-owned subsidiary of
Titan Company Limited, manufactures high-precision components and designs and
manufactures automation machines for worldwide markets. provides companies with
high-quality turnkey assembly and testing solutions. These are a combination of
assembly technique, control and software, as well as testing and measurement. It is
the partner of choice for OEMs/Tier 1/Tier 2 for product testing and assembly, with a
staff of over 300 specialists.
• The warehouse function has also taken over the operations of the fulfilment center,
which is the backbone of the Division's online eyeglasses business. The Company has
a strong internal audit department comprised of professionally trained chartered
accountants and in-house external auditors who cover business operations as well as
support activities and report quarterly to the Audit Committee.
• Understanding of different aspects of production and operations, insight into
innovation, the capacity to anticipate and recognize possible difficulties, and
experience in strategizing to gain a sustainable advantage are all required. Analysis of
financial condition and results of operations in the Annual Report, evaluation of the
performance of statutory and internal auditors with Management, analysis of the risk
and control environment and framework functioning in unlisted subsidiaries, review
of compliance with the conditions.

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• Avoid operational risks that are mitigated by internal rules and procedures that are
periodically updated to handle evaluated hazards. There is a collaboration with
vendors to use their capabilities for specialized operations to promote sustainable
sourcing. These suppliers provide resource support such as machinery selection,
employee training, technical aid during operations, and quality improvement
activities. Foreign activities of the Company that have a functional currency other
than Indian rupees are converted into Indian rupees using the exchange rates in effect
at the reporting date.
• Titan has already entered the eyewear market and is experimenting with non-leather
purses, belts, and other accessories, as well as eying areas like as pens, steel, and even
silver jewelry. Titan is attempting to create a technique that will prevent silver from
tarnish and is also thinking of entering the Helmet segment.

• About five years ago, the company began investing in digital technologies such as
CRM, analytics, e-commerce, and m-commerce. Throughout Fiscal Year 2020-21, a
change occurred, resulting in a widespread adoption of all these technologies by all

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 workers and a willingness on the part of consumers to test new methods of engaging
with the Company. The combined consequence was an enormous increase in sales via
new channels: video conferencing, try-at-home, appointment shopping, omni channel,
chatbots, endless aisle, and so on.

Recommendations
• Several consumer research studies can be conducted in order to comprehend stated
and unspoken needs and incorporate them into products and services.
• 3D printing technology is now widely employed in the development of components
and tools which can be widely used for operations.
• Given the importance of logistics in managing the future scale, an automated pick to
light system can be implemented at the warehouse, which aids in lowering labour
costs, manual intervention, as well as lead time.
• Installation and activation of an online Performance Monitoring System to assess
operational performance
• Back cover forming presses with robotic automation, as well as back cover hook
embossing. Semi-automated case buffing will boost production and reduce labour
fatigue.
• Better managerial practices and internal process skills need the deployment of more
effective strategic instruments. Global and external technological advances must be
followed more efficiently in accordance with the organization's innovation strategy
and specific progress.

CONCLUSION

The use of the flowing-stream strategy resulted in the strategic framework after a thorough
examination of the many continuities and change drivers that influence innovation and firm
success. It was able to determine the critical strategic aspects while keeping the company's
goals in mind. It has also been feasible to recommend the strategic framework and
appropriate strategy channels that best meet the demands of the firm. The framework may be
utilized in a dynamic manner to alter the strategic framework in accordance with the
company's evolving ambitions. In practice, the depicted technique may be efficiently
implemented in any industrial organization and can even be customized to fit any type of
organization across all industries.

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REFERENCES

https://www.indiainfoline.com/company/titan-company-ltd/management-discussions/1016

https://www.titancompany.in/sites/default/files/Titan%2035th%20ANNUAL%20REPORT%202018-
19.pdf

https://www.business-standard.com/company/titan-company-1016/information/company-history

https://www.thehindubusinessline.com/companies/titan-industries-plans-to-explore-new-
verticals/article23057691.ece

http://sdmimd.ac.in/SDMRCMS/cases/CIM2015/8.pdf

https://www.titancompany.in/sites/default/files/Titan%20BRR%202013-14.pdf

https://www.researchgate.net/publication/259356172_Innovation_Management_in_Titan_Industri
es_Limited