Considering the need for bringing in and enhancing cost competitiveness of the Indian industry, CII TCM Division has conceptualized and operationalised TCM services for the corporate sector.
Competitiveness refers to productivity and profitability of a concern. It is phenomenon and is usually discussed in terms of - the decisions it takes, the resources it has and the environment factors which surrounds the business. Post liberalization policies in India have reduced protection and brought in a fiercely competitive scenario, both locally and globally. Avoiding rigors of competition is no longer a choice for any sector.
The transit path to face the competition head-on is only through improving the holistic approach to competitiveness in their sectors.
Following are the indicative methods and means to achieve better competitiveness in the industry:
- Acquiring technologies to role out low cost and environment friendly products
- Strive to achieve cost leadership in their product and service profile.
- Building in sustainable cost structures
- Creating cost consciousness and culture across the echelons
- Continuous improvement projects in the operational area
- Streamlining information systems through business analytical tools and thereby supporting decision making systems.
CII, through its working group, strategized a vision of taking the tools and techniques of Cost Management through a maze of specialized services through the well trained and skilled personnel. This is operationalized through "intervention".
CII, TCM Division works individually with corporates of all magnitudes to bring in competitiveness through Total Cost Management.
The core activities of the division are in the form of
- Training Programmes - The Division is actively involved in training the executives across the industry to carry out practice of Total Cost Management in their respective organization in national and in-house level
- Seminars and conferences on important subjects - During the beginning of financial year, CII TCM Division proactively attempts to design the subjects of paramount importance and the contemporary topics and address this as topics for the events/seminars to be conducted during the course of the year
- Newsletters and case study booklet - the division's dynamic research wing is involved in understanding the current happenings and need of the industry and releasing the publications to address the need in the forms of newsletters, case study booklets
- TCM intervention in organizations/ MSME clusters in the form of implementing Cost Management tools and also facilitating in streamlining cost management systems
- TCM & research - A specially dedicated research arm is into developing new concepts in the discipline to improve the effi ciency of an organization in managing the costs
- TCM Maturity Model- In view of developing TCM and scaling into greater heights, a research wing is put in place to take this subject forward. The need understood to recognize the level of the cost management practices in an organization, to enhance the level of the systems and procedures of an individual unit to a certain level of Industry leader.
Realizing the need, the division has conceptualized and developed a model to assess and rate the cost management systems of an organizational unit.