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IIM Indore organized an expert talk on 'Growing Exponentially with Theory of Constraints (TOC)'

By : Guest on 25 November 2017 E-mail Print Report Abuse


The Industry Interface Office (IIO) of IIM Indore in association with VE Commercial organized an Expert Talk On “Growing Exponentially with Theory of Constraints (TOC)” under the Industry Outreach Program at VE Commercial, Pithampur on 24th Nov 2017.

 

The talk was delivered by Prof. Harshal Lowalekar, a faculty in the Operations Management and Quantitative Technique Area of IIM Indore and an expert in the field of Theory of Constraints. Prof. Abhishek Mishra, Chair.

 

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IIO initially briefed Industry People about the activities of IIO and then Prof. Lowalekar took the charge of the talk. In his talk, Prof. Lowalekar explained how companies can identify and eliminate the constraints which are restricting their current performance and thereby register an exponential growth using the concept of TOC.  He described  how inventory pile-ups in supply chains, huge lead times, poor revenues, higher costs and lack of profits are all actually symptoms or effects resulting from a very few root causes, which are often company policies. The companies should first identify and address these constraints instead of trying to solve all problems separately if they want to achieve maximum benefits.

 

He also revealed how TOC ideas have revolutionized the areas of Manufacturing, Services, Marketing, Sales and Distribution, Accounting and Projects. Overall, the purpose of the talk was to show how TOC can help the companies to become more responsive and still decrease their inventories. It was also discussed how companies can complete projects in much lesser time and budget with better quality. The talk witnessed participation from Indore and Pithampur region.

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