Trident Achieves 98.5% Plant Utilization in Record Time With Realization's Real-Time Synchronization Methodology
Indian Yarn Leader Sets Industry Benchmarks for New Facility Commissioning and Plant Stabilization
SAN JOSE, Calif., June 18, 2012 /PRNewswire/ -- Realization, the leading provider of Real-Time Synchronization solutions for projects, today announced that Trident Group successfully met its 98.5 percent utilization milestone for its newest yarn facility, TYS 5. The factory was commissioned and stabilized in a record-setting 15 months with the help of Realization's Real-Time Synchronization methodology. Thanks to the rapid construction of this new facility, Trident expects to create an additional $60 million in annual revenue.
Trident Group is a $600 million enterprise spanning more than 60 countries with more than 10,000 employees. It is a dynamic, growing group of companies with an expanding product portfolio, and its flagship company, Trident Limited, is one of the world's leading terry towel manufacturers and one of India's largest yarn producers.
Trident engaged Realization to help achieve its aggressive expansion goals, including plans to double the company's revenue. As an important first project in its expansion initiative, Trident sought to increase its yarn production capacity, aiming to add $60 million in additional revenue by increasing output to sell more yarn to the commodity market in India. In order to achieve this goal, Trident needed to build a new facility quickly and then ramp it up to maximum utilization as fast as possible.
Trident set a goal of 15 months for project completion for the TYS 5 project, with an estimated commissioning period of twelve months, followed by three months of stabilization. By mid-December, the TYS 5 plant had met its 98.5% utilization milestone in just 14 months, a 33 percent improvement over previous projects.
"We have set a new project speed and productivity benchmark for the spinning industry, and expect to continue to set new industry benchmarks moving forward," said Rajinder Gupta, Managing Director of Trident Group.
In order to achieve the impressive TYS 5 project results, the executives at Trident did not follow the traditional, 100-year-old Gantt methodology for managing projects, which typically requires about 21 months to complete a comparable factory construction and commissioning project. Instead, Trident adopted Realization's Real-Time Synchronization methodology, which helps organizations complete projects 20 to 50 percent faster by eliminating multitasking and ensuring that all teams are always working on the highest priority tasks during execution.
The key elements of Real-Time synchronization that helped Trident were full-kitting, or the process of ensuring all key components were in place for each phase of the process before proceeding; synchronization across all parties – including external vendors – so all were working as a unified team; and priority compliance, to ensure that all tasks were completed in priority order, even as priorities shifted during execution to account for uncertainties.
By implementing Real-Time Synchronization, Trident made a dramatic shift away from its traditional method for managing projects: fixed project plans and Gantt charts that would not enable project teams to adapt quickly to uncertainties during execution.
"The way Realization set up its processes helped me focus on only elevated issues. They helped me use my time more effectively, and my involvement in project execution is dramatically reduced because of their efforts," said Rajneesh Bhatia, Business Head for Yarn at Trident.
"Trident turned to Realization because we have a track record of helping companies complete projects 20 to 50 percent faster," said Vaibhav Malhotra, Implementation Director at Realization. "We take pride in helping a prestigious global organization like Trident achieve aggressive growth goals."
About Trident Limited
Trident Limited is a part of $600 million Trident Group and has interest in yarn, home textiles, paper, chemicals and captive power. The Company enjoys respectable position in all business segments it operates in and is pioneer in adopting Good Corporate Governance as a basic management principle.
Realization helps organizations do projects 20 to 50 percent faster by replacing "fixed schedules" that cannot be followed when ground conditions keep changing, with Real-Time Synchronization. Realization provides a complete solution of software and services to help the industry take full advantage of Real-Time Synchronization. Realization's more than 200 clients include organizations like ABB, Amdocs, BHP Billiton, Dr. Reddy's, L&T, Medtronic, NASA and the U.S. Air Force. Collectively Realization's clients have realized $3.5 billion in additional cash and profits by doing projects faster. Realization is headquartered in San Jose, California, with offices in India, France, Spain, Brazil, Japan, and South Africa. For more information, visit www.realization.com.
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