In India, the manufacturing sector is growing at a healthy pace and all the key economic indicators are predicting further improvement. It has become crucial for manufacturing companies to redesign and redefine the manufacturing process with the use of available technologies to sustain and grow in the market.
Established in 1981, Cosmo Films Limited is on a mission to redefine the manufacturing process by embracing cutting-edge technologies like IoT and Machine Learning. It is a pioneer in BOPP film manufacturing, which introduced the country to commercial applications. ‘Engineered to Enhance’ is what best describes Cosmo Films. Currently, the company is among the global leaders in delivering speciality films for packaging, lamination and labeling applications. Its offerings include biaxially oriented polypropylene (BOPP) films as well as cast polypropylene (CPP) films. The company has successfully implemented CRM to enhance overall customer experience by providing complete visibility right from the order receipt to order dispatch.
Cosmo Films’ sheer determination and unified efforts is what positioned it amongst the largest exporter of BOPP films from India. Today, it is also one of the largest producers of thermal laminating films in the world. Apart from the widest portfolio of speciality BOPP and CPP films, customers recognize Cosmo Films for its customized innovation that it provides them by successfully maintaining strategic relationship with a customer-centric approach. Over the years, the company has effectively spread its wings and developed five state-of-the-art manufacturing facilities globally and built a strong customer base across more than 100 countries.
Meet the Industry Veterans
Ashok Jaipuria, Chairman and Managing Director of Cosmo Films is a visionary entrepreneur and philanthropist. He pioneered BOPP Films manufacturing in India by setting up Cosmo’s first plant in Aurangabad in 1981. Ashok has been on the board of several academic and industry institutions like IITs (Indian Institute of Technology) and FICCI (Federation of Indian Chambers of Commerce and Industry).
Along with Ashok, another significant persona in the core team is Pankaj Poddar, CEO of Cosmo Films. He is a qualified Chartered Accountant, who took charge of the company in 2011. Under his aegis, the company has achieved various milestones such as being felicitated as “Top 25 Value Creators in Fortune’s Next 500 Companies”, being recommended by experts in “Top Ten Multibagger Midcap Stocks To Buy in 2017” and marking a presence in the “Top 500 Companies List” published by renowned media publications. Association of Business Communicators of India has conferred Pankaj with the “Indian CEO of the Year Award in 2016” and recently he was also awarded with “Young Business Leader” by Zee Business in 2018”.
Cosmo Films – A Perfect Example of Distinctiveness
“We at Cosmo Films have always focused on speciality segments and increasing its occupancy in the products baskets through continuous product innovation,” asserts the core team.
The company is consistently working on product innovations as well as tech-based innovations in order to stay ahead in the game. It believes in taking advantage of technological advancements and has adopted digitization, automation and robotics in its manufacturing facilities to increase productivity. Cosmo has converted every challenge into opportunity with its unique approach that showcases:
Leading through Innovation – The company primarily focuses on recognizing customer’s unmet needs and then customize innovation to fulfill that need. Its experienced and dedicated R&D team works tirelessly towards improving the product portfolio and is now working more hard to improve its speciality films portfolio. Recently, the company has set up a state-of-the-art R&D lab to complement its efforts. Now, it has R&D labs with most sophisticated equipments, one in India and the other one in the US.
Digitization of Business Processes – Cosmo has been way ahead in adopting technology to increase business productivity. It has successfully completed SAP Database Migration from Oracle to HANA. The company has adopted cloud technologies like – SAP HANA Enterprise Cloud for mission critical applications and advance data processing, SAP Success Factors (HCM) for empowering and improving employee experience, and Salesforce (CRM) for enhancing customer experience.
Customer-Centricity – It starts from creating customer classification clusters. For key customers, Cosmo has account management teams comprising of cross functional representatives. Focus on quality, sampling experience and constant communication with the customer are some of the other factors making Cosmo customer-centric.
Inclusive and Sustainable Growth – Growth at Cosmo has always been inclusive and sustainable in nature. Being a focused polypropylene player has helped the company not only in terms of its product expertise but also recyclability. Acknowledging the industry trends and complexities, the company has been working aggressively with brands to provide them with structure rationalization solutions for recyclability.
The strategies that the company follows to stay competent and move in the right direction include:
– Focus on speciality films growth
– Constant review of cost on zero budgeting basis
– Diversification in related areas
– Consistently expanding R&D base and bringing product innovation to the table
Future Prospects
Cosmo Films Limited brings to the table excellent governance, management skills along with technology, quality products and historical industry knowledge qualifying ability to service the future growth of the industry. Implementation of AI for forecasting, robotics for process automation and machine learning for maintenance are already in process.
Cosmo intends to become a packaging solution provider with variety of film substrates to offer. It has already ventured into the production of CPP films and has announced plans to install a speciality biaxially oriented polyethylene terephthalate (BOPET) films. It keeps upgrading the film capacity and in order to add value-added capabilities, a new coating line is soon to be installed. Additionally, Cosmo is on its way to expand speciality sales.
Source :-The 10 Most Admired Companies in Manufacturing Industry
Cosmo Films: Digitally Transforming the Manufacturing World
