Maintaining our competitive edge: Expansion at the time of a national pandemic
The corona virus pandemic has taken the entire world by surprise and given businesses very limited time to prepare or plan for this situation. Government enforced shutdowns, large scale migration of workers, frequent supply chain disruptions and unclear demand signals have all made it very difficult for any business to function in these environments. However, difficult times lead to more resilient companies in the long run and at SYS, we wanted to share some of the major changes we are implementing to come out stronger and better.
ERP implementation for our business
At SYS, we believe data is the new oil, and we have invested heavily in deploying a state-of-the-art ERP system, that will help guide are business decisions in the coming future. Through this deployment, we plan to automate our planning process, improve the capabilities of our purchasing teams and rigorously monitor inventory levels, thereby, improving reliability and reducing costs.
Process Improvement & Automation
Given the large-scale migration of workers, at SYS we have started making investments in automating process to save on manpower for non-critical processes. We have already automated various process within our machining section and have actively implemented a continuous improvement program on our assembly lines.
Supplier Diversification
Given large scale supply chain disruptions due to covid-19, we have multi-sourced all items deemed critical for production and have already identified approved vendors for single sourced products. This not only helps us manage our production lines in case of unforeseen shutdowns but also provides us with buffer inventory to help manage demand surges during our peak season.
Expansion of production capacity
Expanding at the time of an economic contraction might seem counter intuitive, but at SYS we see strong tail winds in the Table, Wall and Pedestal Fan market, where we would like to fill the void from reduced Chinese imports and strong customer sentiment for made in India products. We are thus, expanding our capacity from 50,000 units currently to over 100,000 units by September 2020 and aim to be the largest OEM manufacturer of TPW fans by 2023.