Is 10x for Real ?
Mukesh Rathi
Group Chief Digital Officer @ Hinduja Group - Unlocking growth and re-imagining value networks with Digital | Transformation Leadership | GCC Leadership | IIT, IIM graduate
This saturday morning, I was going through my bookshelf to pick up something to read when I came across an issue of our internal magazine Elixir. The cover story took me back to ExpoTential Day, which we had organised for our management about four years ago. It was a day full of learning and inspiration to kindle “the art of possible” at the top, which would, in turn, give impetus to our digital transformation efforts
This got me thinking as to how much of it has come true. Today, there are various spaces where we see 10x outcomes, while, for many more, we are still in the journey.
So what areas did we touch with the 10x theme?
10x Efficient – Efficiency is the most widespread benefit I can see. Many examples fall under automation including RPA. However, what we have seen over the years is that it is the combination of various tools – Automation + Machine Learning + digital tech like AR/VR etc. — with a reimagined process that brings out the 10x. While we have seen good use of automation in many areas, one interesting example is doing technology transfers between R&D and Operations using augmented reality glasses. It removes the need of the scientist to travel to plants, but handholds plant personnel through the processes to prevent mistakes.
10x Engage – With the use of omnichannel marketing tools
10x Insight – For several processes at Dr. Reddy’s, the data to insight journey has become 10x or faster. The investigation of a failed batch in manufacturing used to stretch across several weeks with data collection, analysis and root cause identification. Now, the data gets fed automatically into an ML tool called root cause advisor, which creates the first set of hypothesis for investigators to start with. What used to take six to eight weeks, now happens in less than five days.
Of course, there are many areas where we are still far from our 10x dream. As I think of the achievements and challenges, sharing few learnings as my recipe for success -
·??????Have an ambitious, clear and aligned goal
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·??????A cross-functional team
·??????The best ideas come from the most constrained scenarios, where one tends to find alternate ways that would not occur naturally. My team did a VPN project in one week post the lockdown announcement in 2020, which had a remaining schedule of three months. Another good example is our R&D teams creating in-silico solutions in early stage development where the non-availability of inputs materials makes it very difficult to do physical experiments.
·??????One must experiment and be ready to fail
·??????Grit is the key. Sometimes results will come in the first sprint, other times it could be a journey over years. Keeping the teams engaged on the topic, and not losing sight of the end goal is important. Celebrate every milestone. At some point, the technology investment cost may become more than the benefit and that is the time one may want to wait for technology to evolve.
I would like to hear from you –
1.??????Your 10x experience, what worked, what were the challenges.
2.??????The areas / technologies where the journey is easier than others.
3.??????What would be your one-line advice to a 10x team?
Instrumentation & Validation Engineer,
2 年1. #10x brought lot of enthusiasm. It was #focused approach process elimination, optimisation,automation, digitisation. Challenge was to leave comfort zone , overcome leathargy. It was about bringing mindset change and giving flavour of technology adoption. 2. Easy to #win or low hanging mangoes were potential i.e. areas/ technology in support process were wastage happening, and existing data. It was easier to get into digital dashboard..i.e. data lake, mobile applications, and integrations... 3. Dream the #change , be the change, be passionate about change which is must & sustainable!
Vice President, Business Head - Consumer Business
2 年I was there. Even though no longer part of DRL's journey to innovative leadership, am proud to say that Dr. Reddy's is perhaps way ahead of any other company in thinking digitally and experimenting constantly because of visionary leaders like you. Fail fast is the mantra to 10X results. Counter intuitive but true. Success is important but more so the failures and the ability to learn from them and improve. Keep it up DRL. Keep it up Mukesh.
SVP & Head of Global Business Services at Iron Mountain
2 年Excellent read, Mukesh. Thanks for sharing your 10x journey.
Seasoned Finance & Investment Professional with exposure to both public and private markets. Experience in Capital markets, equity research, investment banking, corporate strategy, investment relations, capital raising.
2 年This is a quite enlightening! And probably close enough a how-to guide as well! Nice, Mukesh Rathi