- Nirmala Pet A Pack Pvt Ltd
- partner school
- Indian School of Business
Since 2001, I have run a business manufacturing specialized packaging applications like Apet Sheet, Blisters, Trays, etc. Our target customers are from Pharma & Food segments. My staff is made up of 15 employees.
I applied to the 10,000 Women program so that I could better attract strategic investors to obtain adequate working capital.
There were mainly 2 challenges: the internal challenge was how to achieve adequate working capital and steady cash flow. For this, we plan to have strategic investors. The external challenge is the ever fluctuating polymer prices.
I made some changes at my business after attending the 10,000 Women program. The major change I made was to revisit my strategy. While we had been catering to the niche markets, we have since decided to widen our customer base to include the mass market. This change in strategy has helped our cash flow and resulted in 20% growth in revenue. This increase in revenue has allowed us to increase our workforce by almost 50%.
Our day to day operational management has also seen drastic changes. During and after completion of this program we introduced systematic coding and a daily production recording system in the local language. The recording system has resulted in improvements in quality standards, reduced wastages and improved productivity. The improvement in productivity has increased the workforce's morale.
Our targeted growth for the next five years is to have a sustainable increase of around 30% every year. Taking into consideration the boom in retail and the sturdy flow of FDI in pharma and electronics, we are confident of achieving the targeted growth.