Some Recent Stories of Operational Excellence in SMES

Abstract

Operational Excellence is a term associated with excellence in all stages of business for any business organization which may be manufacturing or a trading. Operational excellence deals with the achievement of improved productivity, profitability and reduced wastage. The present paper is an analysis of the relevant papers and the practices which may be considered for adoption by the small scale and medium scale organizations for the achievement of excellence in their operations. In less advanced countries like India the SME’s play a major role in uplifting the economy. The SME’s are facing tough competition and survival is a very big challenge in the current scenario around the globe. So, In this study an attempt was made to review some recent stories ranging from 2011 to 2023 for Lean practices and environment friendly practices leading to Green implementation, collectively achieving operational excellence. The research gaps have been studied and the focus is on identification of the best Operational practices coupled with suitable environment friendly practices for the productivity improvement, quality management and improved financial structure. The present paper is a novel approach for the evaluation of the green and lean management principles combined with Industry 4.0 for the operational excellence of the manufacturing sector.