TAPAMS Group Launches Institute of Turnaround Management, Global Management

Interaction with – Mr. R Krishna Kumar, Director & Head – COE, TAP

 Vishal S S (cbedit@imaws.org)

The 25th Anniversary Celebration of TAPAMS Group of Companies was held on 15 September 2021, “The main objective of TAPAMS happens to be a concept called Turnaround Management that empowers any organization who wants to strategically grow and make sure the industry is future proof on a long-term orientation. A concept which also keeps a trend with the industry advancements, techniques and strategies involved in the functional aspects of the organization”, said Mr. R Krishna Kumar, Director & Head – COE, TAPAMS.

Looking in terms of better profitability through process orientation and all this happens to be a concept of the Turnaround Management – Turnaround hexagon 7M Methodology, which are the 7 major aspects in the business making. Starts with a focus on Marketing and then it moves on to Money which is the investment or fiscal contributions of the organization, followed by management or that helps the company to grow. The approach then focuses on the requirement of the business happening, called the Material input and its conversion for a sheer profitable output, using the methods that need to enables a business outcome, optimizing productivity with apt and right human resource, the Manpower and finally the Machinery which can be physical equipments or an intangible source of converting the business offering., added Krishna Kumar.

Today Indian companies are well known for their maximum inventory for the sheer reason of not preferring to keep the machines and the systems or the people, idle, as they always think the productivity are in continuous working process. All this go and land in the godown with no reason and that itself is a major cost eating aspect in an organization. That’s the situation where turnaround management specifically addresses. It comes from the subject called lean management principles. It’s a tool which enables and empowers a management or an organization, where all there could be pitfalls, nuances or otherwise, which go unnoticed, unseen, and unknown. Those things are identified as key drivers for cost savings and profits of the company. It also tells how you can maximize productivity by following a set of principles that’s quite easy and essential for a business.

By practicing such effective tools and strategies, an organization becomes a world class managed company which makes sure that it follows a specific system and that system will never put the company down, and that’s how they achieve the landmark in the marketplace.

Turnaround Management happens to be a complete operational path for a business poising to witness sustained growth with better profits, and that’s the benefit of the system. While it has achieved that level, it always makes sure that the organization on a specific path will never fail the imagery of its brand values. This wholesome service organization called Tapams is delivery focused and commitment oriented. To back up all this, what is there with Tapams is, “We have a panel of 70-80 hardcore, domain specific professionals” who forms part of the delivery mechanism which will empower all these processes. That’s the strength of our organization. Now we are present across the country and we also have people who contribute to this process from outside the country too.

Future plans & expansion

It keeps going as we get more and more clients. At present we have serviced thus far around 350 clients and only envisage doing more. Now this is only possible with the 80 people that we are working with. We are rather looking at a scenario, where we have recently launched an initiative as part of TAPAMS called the Institute of Turnaround Management, which basically prepares the modern youth who are engineers & management professionals to focus on these aspects and get developed as Turnaround Management Professionals. We train them and the training ranges from 6 to 24 months based on the modules learnt. Depending on the modules what they are willing to learn and once they learn they get to industry as hardcore turnaround professionals.

This is one of its kinds Institution for this type of specific training in India, probably.  Dr. P Meganathan, Founder of TAPAMS group and Managing Director at Tapams Advanced Management and Industries Pvt Ltd., happens to be almost the singular identity and icon for turnaround management as a doctorate. There are many consulting companies who are into process orientation but this specific thing is only with Dr Meganathan. That’s the advantage and this institute has set a target. This year we would like to bring in at least 1200 turnaround professionals, from the engineering and management streams. We just started promoting and going on. It depends how early we will launch and create.

Tapams Global Management Pvt Ltd

This is another new endeavor of TAPAMS. Through this, the offering is, Managed Manufacturing Partnership service, where. Tapams Global would partner with any manufacturing business owner to be their extended arm, whether within client premise or otherwise, offering talent resource on production output basis and not on staffing service. So to say, a model of ‘Usership’ is over Headcount. By this new concept, TAPAMS is all set to recreate and redefine the human resource industry as well as the manufacturing fraternity’s talent hunt. Industry would start calling Output Outsourcing rather than manpower outsourcing. A concept which is going to turnaround the manufacturing industry’s cost effective production and enhanced profitability.