World Economic Forum recognises Dr. Reddy's Hyderabad factory as part of its Global Lighthouse Network

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as "Dr. Reddy's"), a global pharmaceutical company, today announced the recognition of its largest manufacturing facility in Bachupally, Hyderabad, as part of the Global Lighthouse Network (GLN) by the World Economic Forum (WEF).

With this recognition, the facility joins the GLN, a community of over 100 manufacturers that are showing leadership in applying Fourth Industrial Revolution (Industry 4.0 or 4IR) technologies to drive impact in productivity, workforce engagement, sustainability, and supply chain resilience. GLN is a WEF initiative in collaboration with McKinsey & Company. Factories and value chains that join GLN are designated by an independent panel of experts.

The journey began four years ago when Dr. Reddy's embarked on an ambitious programme to 'digitise its core'. This involved upgrade of infrastructure and digitisation of processes for robust and comprehensive data capture. Real-time data and insights laid the foundation for Project 'OpsNext' which was initiated two years ago to transform the plant into an Industry 4.0-driven 'Lighthouse' factory as defined by the WEF. The site saw the deployment of six of the eight technologies of 4IR - Advanced Analytics, Digital Twins, Robotic Process Automation, Augmented / Virtual / Mixed Reality, Digital Performance Management and Industrial Internet of Things (IIoT). The OpsNext team identified 40+ business results linked use cases impacting various aspects of productivity such as customer service, quality, energy consumption, sustainability, equipment efficiency and people productivity. The company also invested heavily in building people capabilities such as digital and analytics translators, data scientists and data engineers.

In response to business scenarios of price erosion, sustainable manufacturing practices, need for constant vigilance and maintenance of uncompromising standards of quality, the journey has already yielded significant results at the site - 43% manufacturing cost improvement, 30% reduction in production lead time, 41% energy consumption reduction, and significant dip in quality deviations.

Source : Equity Bulls

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DrReddysLaboratories RDY Recognition Bachupally Hyderabad GlobalLighthouseNetwork WorldEconomicForum