Power List 2020 – DFPC

Innovation needs a strong policy from the government for encouragement. It needs incentives for achieving excellence by way of defined models and their certification. To encourage corporates to pursue innovation and embed it in their day-to-day working, national and international forums for showcasing innovation must be created both by industry associations and the governments. Proper collaboration of academia with industry is needed to drive Innovation 2.0 and each such step by the industry should result in some tax cuts linked to results. Innovation as a subject must be introduced into the curriculum of graduate students. An innovation policy which drives the organisation must also consider the external and internal environments and must be put firmly in place. There is also a need for innovation to integrate with customer behaviour and technological changes taking place in the external domain and needs to be  better understood and for which a systematic process can be put in place. As a large company, Factory of the Future is what everyone is talking about.

Some of the steps that Deepak Fertilisers and Petrochemicals Corporation has taken in this direction is:
• Step 1: is to bring the factory to minimum levels of EHS and 5S principles
• Step 2: WCM/TQM/TPM/PSM etc.
• Step 3: Achieve an excellence award like JIPM/TQM, etc
• Step 4: Move towards Manufacturing 4.0 and bring in IOT/IOD
• Step 5: achieving excellence through AI at benchmarked Levels
• Step 6: Achieve cost leadership, quality leadership, customer delight
• Step 7: Bring in sustainable leadership.