COMMERCE OF WASTE ELIMINATION: A BUFFER FOR INDIAN SMEs

Waste elimination has benefited many industries in realising wealth creation by plugging undesired costs in operation and manufacturing excellence. Under the scenario of global competitiveness and dictative customer centric markets Indian SMEs, especially, automobile industries are striving hard for survival. These industries are slow in adopting and practising performance and efficiency based derives. In this context, waste elimination derives related to man, material, machine and method could provide a competitive advantage and add fuel in enriching the bottomline of Indian SMEs.Main findings of this article comprises of highlighting the present status of understanding the essence of subject matter, assessing the inadequacy of initiative taken by various companies and evaluating the hurdles in implementing waste management.Furthermore,findings lead to conclusion that imbueding the culture of waste elimination as a building block, organisations not only create revenue but also create value for the customers and end-users. It has been suggested that involvement of top management to push waste elimination derives at multi-levels in organisation will act as a catalyst in recuperating competitiveness and pulling off substantial wealth creation. Use of Information technology will excel the speed of such derive.