IPMMI wraps up Envision 2024

In his opening address on day one of Envision 2024, Anthony D’souza, president, Institute of Packaging Machinery Manufacturers of India (IPMMI) spotlighted the organisation’s progress and initiatives. He said, “We represent the packaging fraternity, and envision to mitigate the challenges faced and pave the way ahead, for academia too.” 

In a heartfelt tribute to the esteemed founder member, Ashok Kothari, IPMMI announced the establishment of Ashok Vann, in Sarigam, Valsad District, Gujarat. The Ashok Vann project will deploy the Miyawaki technique of plantation which will be used to enhance the growth of the forest over the next few years. This forest shall house a minimum of 10,000 trees that shall nurture the flora and fauna thriving in the ecosystem in that area.

In his keynote speech, Ajay Mariwala, the managing director of Food Service India spoke about the opportunities and challenges for the next generation that seeks to enter the family business. He said “The next generation that wants to enter the family business should seek clarity of vision and mission and values which will make succession planning easier. For this a company needs a code of conduct plus clear roles and responsibilities, as well as personal coaches who can mentor. Also, companies need a clear separation of ownership and management.” 

Dipak Sanghavi of Nilon's highlighted the power of focus. He said, the key to adding value is to "to keep going deeper" and become specialists. Sanghavi made the distinction between an organisation whose promoters adhere to art, and as they scale up, science becomes the principle. The key is to understand art and when to transition to science. He mentioned that it is okay to fail; and at Nilon, failure is a culture which is not frowned upon. 

AVPS Chakravarthy, CEO and managing director, Ecobliss while speaking about change at IPMMI's Envision 2024 said "People are changing, and so is packaging. We should accept and adapt to the change." 

Bhupinder Singh, CEO, Messe Muenchen while talking about his authored book ‘Vivid Vision’ said "We started following a clear vision, which ensures the blueprint trickles down to every person in the team and everyone working on a project believes in the same culture.” 

Priti Nair, director, Wurth Industrial Services, talked about efficiency and customisation of the inventory. She highlighted the importance of the RFID Kanban system which is ideal for JIT. Nair also spoke about the Orsy mat vending machines that monitor what goes into the system. She also mentioned the modular C-Parts management system that offers you maximum supply security for your C-Parts, reduces inventory levels in your production to a minimum while at the same time minimising capital commitment as far as possible.

In the thought facilitation session by Pathik Kothari, an advisor of L&T said “Companies should have a five years strategic plan. He said, the head should explore what should be prioritised as opposed to what is not important. The company CEO should seed many new businesses which can be based on key trends for the next few years. Also SME and MSME companies should invest in HR. Kothari said, “Companies should look at HR as leadership development and how to encash on the leadership.”

On day two of the conference, in a thought facilitation session, VK Murti conducted an one hour masterclass on succession planning in a family business. He said, “Succession is a lifelong process and not just an event.” He extolled the delegates to plan in a “systematic manner” and not wait till the last moment when the child is 20-year old.”

He cited the McKinsey Research report of 2024 which said family owned businesses constitute 75% of the national GDP and this will rise to 85% in 2047. In this context, he said IPMMI members should take pride in the family business. In this age of start-ups, unicorns, plus brands  and MNCs, these one or two gala companies are “the hidden champions”.

During the Q&A session, IPMMI delegates wanted to know more about how to choose a successor from within the family. Murti said “Respect has to be earned and sometimes the fault in businesses is, family quotient is preferred to the business quotient.”

Other than Envision 2024, IPMMI has been hosting roadshows across India. This will finally lead up to PackMach Asia Expo which is being hosted from 23 to 25 October 2024 at the Bombay Exhibition Centre in Mumbai.