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Hmt Bearings Essay

974 words - 4 pages

Introduction:
HMT Bearings Ltd. ("HMTB") was incorporated in 1964 under the name of Indo Nippon Precision Bearings Limited. The Company was promoted as a state public sector company by the Government of Andhra Pradesh in technical collaboration with M/s Koyo Seiko Co. Ltd., Japan. It commenced commercial production in 1970. In 1980 the Company became a central public sector undertaking after it was made a subsidiary of HMT Limited ("HMTL"). The vision of the company is to produce & market bearings and other engineering components of world class excellence through total performance leadership. Company is strictly adhered to the standards, specifications stipulated in ISO-9001-2000.
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FACTORS :
• Change in demand of Automobiles and Manufacturing sector (Fate of Bearing industry depends on the sales of vehicles)Recession hit the auto sector in 2002-2003, which resulted in low production. Data extracted from Annual Report of HMT 2002-2003.
• Change in prices of Steel(steel prices appreciated 40% since January 2002)
• High Employee Cost .Retrenchment could not be worked out (burden of salaries and pension)
• No buyers were available.
• Most of the big players are having either technical or financial collaboration with leading auto manufacturers.
• Limited Suppliers
• Liquidity crises

Analysis:
STRENGTHS WEAKNESS
New Product Service
• Strive continuously to assure highest standard of service
• Strive to attain international standards to become globally competitive
• Acknowledge all correspondence within a reasonable time of its receipt
• Adhere to the delivery schedules
Reputation
Incorporated in the year 1964, HMT Bearings Ltd., was the only company of its kind in the public sector set-up to manufacture Ball & Roller Bearings. Financial Position

Undifferentiated products or services
• Lack of associated product
• Similar products other competitor companies was manufacturing with added features and services
Lack of formal strategic planning
• No formal strategy to enhance market share
Low export performance (10% of its sales)
• Lack of export marketing capabilities
• Lack of financial resources to sustain inventory levels necessary to be kept
• Lack of subsidized participation in trade fairs and trade missions
• Legacy of Ministry approvals and other red tapeism for travel abroad unlike the flexibility that the private sector enjoys.
OPPORTUNITIES THREATS
New Product opportunities
Mergers or strategic alliances
New market segments
Regulatory changes
• Major threat was from unorganised players in market for replacement of ball bearing.
• Imports
Competitors
• Austin Engineering Company Ltd. (since 1973)
• Premier (India) Bearings Ltd. (since 1975)
• Classic Bearings (since 1992)
New, innovative product or service
• Lack of modernization of manufacturing facilities.
• Huge Technology Gap
• Limited Product range (Ball Bearing Lines, Cylindrical Roller Brg Lines, Tapper Roller Bearing Lines, CNC versatile Grinding lines) compare to competitors range.
• Design tends to be market...

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