Department of MBA, PESIT Page 1 EXECUTIVE SUMMARY The research titled “PORTER’S FIVE FORCE MODEL ANALYSIS OF WIDMA GUN DRILLING MACHINE” is undertaken to analyze the threats from substitutes as well as new entrants and competition among the Gun Drilling Machine manufacturers. This study also analyses the bargaining power of customer and the vendor. To accomplish the task, a survey was carried out among the users and non-users of WIDMA gun drilling machine with a sample size of 65 respondents based on convenience sampling. This was done by means of online questionnaire which was sent to the respondents by email. The data so collected was analysed by both percentages and statistical method. The survey was conducted using the online market research website, in which questionnaire was prepared as per the requirement. This website was even used to send the questionnaire to the selected respondents and also remind the respondent about the survey, so that they can respond whenever they were free. This study gives a bird’s eye view of the WIDMA Gun drilling machine and important concepts which are related to the performance and future prospect of the machine among the users and non- users. This report will help Kennametal - Machining Solution Group to evaluate their product. This will act as a tool for the company to know their opportunities and threats in the market. This report will also help the company to take right decision and steps for its better sales and service and also make strategies to face the competition by other players in the industry.
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Department of MBA, PESIT Page 1
EXECUTIVE SUMMARY
The research titled “PORTER’S FIVE FORCE MODEL ANALYSIS OF WIDMA GUN DRILLING
MACHINE” is undertaken to analyze the threats from substitutes as well as new entrants and
competition among the Gun Drilling Machine manufacturers. This study also analyses the bargaining
power of customer and the vendor.
To accomplish the task, a survey was carried out among the users and non-users of WIDMA gun
drilling machine with a sample size of 65 respondents based on convenience sampling. This was
done by means of online questionnaire which was sent to the respondents by email. The data so
collected was analysed by both percentages and statistical method.
The survey was conducted using the online market research website, in which questionnaire was
prepared as per the requirement. This website was even used to send the questionnaire to the selected
respondents and also remind the respondent about the survey, so that they can respond whenever
they were free.
This study gives a bird’s eye view of the WIDMA Gun drilling machine and important concepts
which are related to the performance and future prospect of the machine among the users and non-
users.
This report will help Kennametal - Machining Solution Group to evaluate their product. This will act
as a tool for the company to know their opportunities and threats in the market. This report will also
help the company to take right decision and steps for its better sales and service and also make
strategies to face the competition by other players in the industry.
Department of MBA, PESIT Page 2
INDUSTRY PROFILE
OVERVIEW
India ranks 17th in production and 12th in the consumption of machine tools in the world. The country
is set to become a key player in the global machine tools industry and is likely to see substantial high
end machine tool manufacturing, even as China keeps its lead in lower end volumes. Several firms
have entered the Indian machine tools sector, or announced plans for joint ventures or wholly owned
subsidiaries in India.
Machine tools – a strategic industry, forms the backbone of many if not most of the major sectors of
industrial activity in a country in the traditional manufacturing context. Therefore, a country such as
India which is on the threshold of becoming a major global industrial and economic power must have
a strong, well-developed, robust and modern machine tool industry to support and assist its
manufacturing sector.
In India, the machine tool industry supports the strategic development and growth of the automotive,
the white and brown goods, the capital goods industries as well as strategic sectors such as defense,
railways, aerospace, etc. Machine tools also contribute to the vibrancy of small and medium scale
manufacturing industries, in particular, the millions of job shops in the country.
In India, the Rs.17 billion machine tool industry supports more than Rs. 2,000 billion manufacturing
sector in the country. The Indian machine tool industry predominantly comprises manufacturers from
the small and medium-sized enterprises. There are about 150 major manufacturers in the organised
sector. About three-quarters of total machine tool production in the country comes out of ISO
certified companies that are involved in manufacturing of metalworking machine tools,
manufacturing solutions, accessories, and cutting tools & tooling systems.
Historical Backdrop
This sector has had a long history of growth in India, beginning in the 1940s. From early 1950s to
mid-1970s, the machine tools industry evolved under an umbrella of protection in which the growth
was based on import substitution. The Government of India set up the Hindustan Machine Tools
(HMT), which provided a nucleus for development of technological capabilities and skills. It also
spearheaded sprouting of several ancillary units in the private sector by providing support and thus
became local suppliers of components, etc.
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During the 1950s to mid-1960s, this sector bolstered in confidence and began to absorb imported
technology and manufacture machine tools to specifications given by foreign collaborators. It also
initiated developmental work directed to modifying machine tools and developing variants of
machines for which design had been acquired by the purchase of licenses.
In the 1980s, the industry developed further and was able to acquire know-how in machine tool
technology in order to reproduce and even develop new machine tools, particularly special purpose
machine tools (SPMs). The national expertise developed over the years provided the needed human
resources to initiate creative modified versions of existing machine tools manufactured under license,
thereby further paving the way towards self-reliance through aggressive R&D in India.
As a result of the various initiations, output of the Indian machine tool industry, witnessed a steep
rise from Rs. 290 million in 1970-71 to Rs. 1,185 million a decade later. And by the time of the
economic liberalisation in 1990-91, turnover of the industry touched a new high of Rs. 4,135 million.
Indian machine tool industry was among the first industry sectors to be thrown open to global
competition in the economic reforms of the early Nineties. That, however, did not deter the industry,
to face the onslaught challenges – and towards this direction improved features of their machines,
enhanced productivity, increased reliability and performances, and embraced TQM practices. Efforts
of domestic machine tool manufacturers made a paradigm shift that led to a manifold increase in
performance.
The spurt in the country’s manufacturing activity since 2003-04 led to increased potential for Indian
machine tools, which got a boost from the automotive sector. The booming automotive and auto
ancillary industry in India is currently driving growth and the competitiveness of the Indian machine
tool industry. Domestic manufacturers are fulfilling stringent tolerances, and process capability
requirements of the highly demanding auto industries. The focuses of several Indian manufacturers
currently provide machine tools with integrated Total Productive Maintenance (TPM) features. This
has increased the potential and improved the competitiveness of Indian-built machine tools.
The strength of the Indian machine tool industry was galvanised by Indian Machine Tool
Manufacturers’ Association (IMTMA) – the apex industry body of machine tool and manufacturing
solutions, which currently represents over 80 per cent of the machine tool industry in India. With a
membership of over 350 small, medium and large companies, IMTMA is the single point of contact
for the machine tool industry in India.
While the Indian machine tool industry takes determined steps to support its users and customer
through a range of value-adding initiatives, along with a greater emphasis on R&D activities.
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Simultaneously it has initiated steps to develop mechanisms to protect and provide market
exclusivity, in domestic and international markets, for locally developed innovations and/or new and
improved product and processes.
Industry Strengths
The machine tool industry in India is recognised for:
• Capability to manufacture low-cost, highly productive manufacturing solutions, especially
customised products, for Indian and overseas users – in the range of turning centers, machining
centers, and grinding machines.
• Consistent attempt to transform the industry to become more productive, more efficient, and, above
all, much more cost competitive. Products offered by the Indian machine tool industry today are
priced much lower than earlier.
• Strong emphasise towards improvement of quality. Over 75 per cent of the total production of the
industry comes from ISO certified and CE accredited manufacturers.
• Engineering expertise on design, CAD, documentation, testing and evaluation. Most machine tools
manufactured in India are indigenously designed.
• Pool of skilled workforce specialising in assembly, design, and software development, as well as in
efforts to further strengthen their design and innovative skills.
• Forging backward integration with sub-suppliers and vendors for greater standardisation of
components and assemblies.
• Proactive efforts to reach out to customers through process of interactive dialogues – at the industry
and at the individual company levels.
• Special focus on increasing reach of the industry to other potential overseas markets. The machine
tool industry is making special forays to establish presence in key machine tool markets – through
joint participation in overseas fairs, as well as establishment of exclusive machine tool show centers.
As a result, Indian machine tools are today well accepted in China, Germany, Italy, France and North
America.
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Core Competency
The Indian machine tool industry manufactures almost the complete range of metal-cutting and
metal-forming machine tools. Customised in nature, the products from India comprise conventional
machine tools as well as computer numerically controlled (CNC) machines. There are other variants
offered by Indian manufacturers too, including special purpose machines, robotics, handling systems,
and TPM-friendly machines.
One of the significant developments in machine tool industry in recent times has been the Computer
Numerically Controlled (CNC) machines. Emergence of CNC machine tools and its dominance over
the last few years in the overall product segment stemmed from its value-added features, such as
enhanced productivity, higher precision, increased reliability, better finishing, and improved
aesthetics and design. Achievement of higher growth and increased share of CNC machines in the
overall output surmises the commitment of Indian machine tool manufacturers to providing
competitive manufacturing solutions, now at cost effective prices.
In terms of key product segments, high growth areas for the Indian machine tool industry include
turning centers, machining centers, grinding machines, and cell manufacturing, amongst others. The
other emerging demand is for total manufacturing solutions, whereby users seek to economise on
manufacturing cost and time.
Current Scenario
The auto sector accounts for 60% of machine tool demand in the country. Auto Component
Manufacturers Association (ACMA) estimates India will sell 2.7 million cars, 12.5 million two
wheelers and 0.5 million commercial vehicles (CVs) in 2010-11. This will grow exponentially to 10
million cars, 30 million two wheelers and 2.2 million CVs by 2020. This means that auto component
manufacturers will have to invest $2 billion every year, and machine tool operators in the country
will have to ramp up capacity by 7-8 times to meet that demand.
The local machine tool players do not have the financial wherewithal to make such levels of
investments. Around 60% of the sector consists of small unorganized players. The remaining 40%
includes bigger organized players like HMT, Kennametal (MSG), Premier and Ace Micromatic. The
current size of the machine tool industry stands at Rs 9,000 crore and IMTMA forecasts this to
increase to Rs 23,000 cr. by 2020.
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COMPANY PROFILE
A. BACKGROUND AND INCEPTION OF THE COMPANY
Innovation, perseverance and close attention to customer needs have characterized Kennametal since
its founding. In 1938, after years of research, metallurgist Philip M. McKenna created a tungsten-
titanium carbide alloy for cutting tools that provided a productivity breakthrough in the machining of
steel. "Kennametal®" tools cut faster and lasted longer, and thereby facilitated metalworking in
products from automobiles to airliners to machinery. With his invention, Philip started the McKenna
Metals Company in Latrobe, Pennsylvania. Later renamed Kennametal, the corporation has become
a world leader in the metalworking industry and remains headquartered in Latrobe.
Kennametal developed an international presence from the start. Philip sold early patent rights to
British industrialists who later also began Kennametal of Canada. Exports through the company's
first five years totaled more than $2.5 million, and by 1955 Kennametal had representation in 19
countries. The company's overseas manufacturing started in 1957 with a joint venture in Italy. A
joint venture in the United Kingdom and a German sales subsidiary soon followed. Between 1972
and 1981, foreign sales grew from 17 to 34 percent of the total.
McKenna Metal's first full-year sales, with a staff of 12 employees, totaled some $30,000. But World
War II saw American heavy industry shift into high gear. Kennametal's annual sales approached $10
million and employment was nearly 900 as the company's tools were used extensively in the war-
time economy.
In 1993, Kennametal acquired Hertel AG, a tooling systems manufacturer headquartered in Fürth,
Germany, with operations throughout Europe and worldwide. This enabled the corporation to
compete more effectively in Western Europe, gain better access to emerging markets in Eastern
Europe, and offer additional product lines in Asia Pacific. The Asia Pacific effort was further
expanded to include manufacturing joint ventures for mining tools in China and a metalworking tool
manufacturing plant in Shanghai. In 2002, Kennametal acquired Widia, a leading manufacturer and
marketer of metalworking tools in Europe and India which was incorporated in India in the year
1964.
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A Technological Leader
Kennametal was founded on the strength of a technological breakthrough, and a list of highlights
demonstrates that it has continued to lead its industry in innovation.
In 1946, the company introduced the Kendex line of mechanically held, index able insert
systems that accelerated tool changing and increased machining precision.
Kennametal's unique, patented Thermite process for producing impact-resistant macro
crystalline tungsten carbide today remains the best way to produce extremely tough tool
materials for demanding applications such as mining.
In 1964, Kennametal introduced tungsten-carbide-tipped Ken grip tire studs. Although studs
clearly contributed to safe winter travel, they became controversial amid speculation about
their role in road deterioration. After legislation limited the use of carbide studs, Kennametal
left the business in 1977.
Leader in the development of silicon-nitride based "Sialon" ceramics for the machining of
exotic aerospace materials.
First to develop cobalt-enriched substrates for coated inserts was first to commercially
introduce physical-vapor-deposition (PVD) coated cemented carbide cutting tools and
created the first commercially viable diamond-coated carbide inserts.
Leader in the development of quick-change tooling systems that today lead the world in
versatility, speed and accuracy.
Kennametal maintains its technological leadership through its $30-million Technology Center at its
world and North America headquarters in Latrobe, Pennsylvania, and complementary facilities in
various locations around the globe. The facilities are dedicated to rapid development of products
engineered to meet specific customer requirements.
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B. NATURE OF THE BUSINESS CARRIED
Kennametal India Ltd carries out its business strategically in three segments:
I. Metalworking Solutions & Services Group (MSSG)
II. Advanced Materials Solutions Group (AMSG)
III. Machining Solution Group (MSG)
I. Metalworking Solutions & Services Group (MSSG) segment:
In the MSSG segment, the company provides consumable metal cutting tools and tooling systems to
manufacturing companies in a range of industries throughout the world. Metal cutting operations
include turning, boring, threading, grooving, milling, and drilling. Its tooling systems consist of a
steel tool holder and cutting tools, such as index able inserts and drills made from cemented tungsten
carbides, ceramics, cermet’s or other hard materials. The company also provides solutions to its
customers’ metal cutting needs through engineering services. Engineering services include field sales
engineers identifying products and engineering product designs to serve customer needs.
The company serves various industries that cut and shape metal parts, including manufacturers of
automobiles, trucks, aerospace components, farm equipment, oil and gas drilling and processing
equipment, railroad, marine and power generation equipment, light and heavy machinery, appliances,
factory equipment, and metal components, as well as job shops and maintenance operations.
KENNAMETAL is the only major machine tool supplier in the country which offers both machine
and tooling solutions. It produces Special Purpose Machines which are customized products. It also
produces tool and cutter grinding machines. All the machines are designed with TPM and safety
measures.
II. Advanced Materials Solutions Group (AMSG) segment:
In the AMSG segment, the company’s principal business lines include the production and sale of
cemented tungsten carbide products used in mining, highway construction, and engineered
applications requiring wear and corrosion resistance, including compacts and other similar
applications. Additionally, the company manufactures and markets engineered components with a
proprietary metal cladding technology, as well as other hard materials that likewise provide wear
resistance and life extension of the target component. These products include radial bearings used for
directional drilling for oil and gas; extruder barrels used by plastics manufacturers, turbine blades,
burner tips and tubing used in power generation applications, food processors and numerous other
Department of MBA, PESIT Page 9
engineered components to service various industrial markets. It also provides metallurgical powders
to manufacturers of cemented tungsten carbide products, intermetallic composite ceramic powders
and parts used in the metalized film industry. The company also provides application-specific
component design services and on-site application support services. It provides its customers with
engineered component process technology and materials that focus on component deburring,
polishing, and producing controlled radii.
The company’s mining and construction tools include products fabricated from steel parts tipped
with cemented carbide, as well as wear resistant products made from steels and other hard materials.
Mining tools, used primarily in the coal industry, include long wall shearer and continuous miner
drums, blocks, conical bits, drills, pinning rods, augers, cladded products, wear pins, and a range of
mining tool accessories. Highway construction cutting tools include carbide-tipped bits for ditching,
trenching and road planning, grader blades for site preparation and routine roadbed control and
snowplow blades and shoes for winter road plowing. The company produces these products for mine
operators and suppliers, highway construction companies, municipal governments and manufacturers
of mining equipment.
The company's customers use engineered products in manufacturing or other operations where
extremes of abrasion, corrosion or impact require combinations of hardness or other toughness
afforded by cemented tungsten carbides, ceramics or other hard materials.
III Machining Solution Group (MSG) Segment:
In the MSG segment, the company’s principal business lines include the production and sale of
Special Purpose Machines (SPM) used mostly in Automobile industry. For over two and a half
decades, MSG has been leading the special purpose machine tool industry in India, elevating it to the
best global standards. MSG has state of the art manufacturing plant, they partner with customers
spanning diverse industries across the country and overseas. They count on MSG for high
performance, world class total machining solutions to manufacture their most critical components.
The Machining Solution group of Kennametal India provides end-to-end metal cutting solutions and
not just stand-alone machines. They offer customers an unmatched advantage by leveraging their
close association with world-renowned tooling brands and their access to a global application
database, besides their ability to design customized machines and tooling.
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C. VISION, MISSION AND QUALITY POLICY
Vision:
The vision statement of Kennametal is as given below:
“To be recognized as a premier, customer-driven enterprise that delivers our promise of exceptional
value, growth and productivity solutions to our customers, consistent returns for shareholders, and
rewarding careers to employees”.
Mission:
“Kennametal delivers productivity to customers seeking peak performance in demanding
environments by providing innovative custom and standard wear-resistant solutions, enabled through
our advanced materials sciences, application knowledge, and commitment to a sustainable
environment.”
Quality Policy:
Promise of Kennametal: “Engineering your competitive edge”.
OPPERATIONAL EXCELLENCE: Kennametal’s systematic process of reducing and eliminating
waste in all its processes.
STRATEGIC PLANNING: Consistent development of long-term business strategy in alignment
with the company’s vision, key values, and ambitions.
INNOVATION: Stage-gated product development process for rapidly bringing world-leading new
products to market.
CUSTOMER EXCELLENCE: A process to continuously deliver the best economic value to
increase their customer’s competitiveness.
TALENT DEVELOPMENT: Kennametal’s process to manage and develop their workforce to be
highly competitive and performance driven.
PORTFOLIO MANAGEMENT: Guides an extremely disciplined approach to the identification,
closing, and integration of acquisition candidates and portfolio management of existing businesses.
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D. PRODUCTS/ SERVICES PROFILE
There are five important products of MSG under the brand name WIDMA of Kennametal.
They are
1. Special Purpose Machine
The WIDMA range of Special Purpose Machines offer solutions covering all machining
operations: turning, milling and drilling including special operations like fine boring,
deep hole drilling, facing and centering etc. All WIDMA machines are designed to
maximize productivity, reduce cycle time and achieve optimal cost per component.
2. WIDMA Flex series
The WIDMA Flex family of machines is specially designed to help industry optimize
manufacturing. They are built on the Lean concept. It combines the versatility of a General
Purpose Machine with the productivity of a Special Purpose Machine. WIDMA Flex is
eminently adaptable to different applications. Standard Flex module, customized work
holding and various combinations of additional axes ensure high productivity.
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3. Fixtures/ Tooling
To address the complex challenges in machining, one needs to have rich insights
into all the three major areas involved – The Machine, the Tooling and the Fixtures
– and how they interact. WIDMA manufactures this comprehensive and intensive
expertise to give its customers the most optimal integrated machining solutions for
their machining needs.
4. Ecogrind
The best choice for a wide variety of tools. Dedicated to the manufacturing and
regrinding of round tools in one setup. They are designed with well balanced &
optimum axes configuration, superior rigidity and adequate power. They ensure high
productivity and impeccable precision.
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5. Special Vertical Turning Machines
Over 100 installations ,these uniquely designed machines answer the long-standing question
- “How can one maximize productivity and combine operations in a single set-up without
compromising on component quality?” From turning to more demanding turn-milling and
complex 5-face machining, the range covers all applications, are designed for rigidity and
optimization. They segment leading capacities, adequate spindle power and superior
precision, all within a compact footprint .They have FEA optimized design and machine
grade cast iron construction for vibration free long working life even in the most demanding
conditions.
The Services provided by Kennametal are:
• Wear Assessment
• Solution Design & Engineering
• Cladding Fabrication & Application
• Installation Support
• Ongoing Wear Monitoring & Consultation
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E. AREA OF OPERATION
Operation of MSG of Kennametal is National and Regional. MSG has WIDMA brand which has
it’s registered office & manufacturing plant in Bangalore. It has 4 regional offices in places such as
Jamshedpur, Chennai, Gurgaon and Pune.
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F.OWNERSHIP PATTERN
Kennametal India Ltd is a Public Limited Company and almost 88% of the shares is owned by the
foreign partner.
Pattern of share holding as on 30th June 2011
Distribution of shares as on 30th June 2011
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G.INFRASTRUCTURAL FACILITIES
Machining Solution Group (MSG) - Kennametal India is an organization headquaterd at Bengaluru
of India. The Infrastructural Facilities available here are as follows.
MSG division of Kennametal India is equipped with large machine assembly area located in
Bengaluru.
MSG- Kennametal India has Kennametal Knowledge Center which conducts various
education/training courses to meet the training needs of the Industries.
MSG- Kennametal India has a Sales department, Supply Chain Department, Project
Management department and a dedicated Design center.
In addition to this it has a very good office infrastructure and IT infrastructure, Canteen
facility etc.
It also provides transportation facility to its employees.
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H. ACHIEVEMENTS AND AWARDS
Some of the awards won by MSG of Kennametal India are as follows:
1. FI foundation award winner
For 6 Axis CNC Tool and cutter grainding machine WGS 6
2.IMTEX-92
For VALVE SEAT Generating and VALVE guide reaming machine
Kennametal India Ltd - Second best in Medium Scale Category in EHS Awards 2010
Customer Awards:
1. Honda Award
For Machine tools 2003-2004
2. Honda Award
For machinery 2004-2005
3. Honda Award
For QCDDM (Machinery) 2006-2007
4.FIE foundation award for best machine design.
4. Honda Award
For QCDDM (Machinery) 2010-2011
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I.WORK FLOW MODEL OF MSG
Machine Tools Business is one of the important Business of Kennametal India Ltd. WIDMA
machines are working with many satisfied customers like –Honda , Bosch , Suzuki ,Toyota, Ashok
Lyeland, etc.The end to end work flow of MSG is as described below:
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J. FUTURE GROWTH AND PROSPECTS
MSG- Kennametal India Limited has good infrastructure facility located in Bengaluru, which has
helped the company improve the quality of its products and has aggressive investment plan to
enhance capacity to meet increasing demand.
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3.MCKINSEY’S 7S FRAME WORK
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a. Shared Values of Kennametal:
The values of Kennametal is as shown in the below figure.
a.1 People
Kennametal’s talented global workforce is their number-one competitive advantage. It
aspires to be the employer of choice for the best people.Their sustainability programs,
designed to provide a safe and rewarding workplace,reflect the company’s commitment to
the highest levels of employee safety.
Kennametal’s comittment is to provide their people with the components of a great place
to work,such as:
• A safe work environment
• Career opportunities
• Opportunities to learn and grow
• Competitive Compensation
a.2 Environment
At the beginning of fiscal year 2008, Kennametal developed and launched the Protecting
Our Planet initiative. This program is designed to foster, recognize, and reward employee
achievement in the areas of energy and water conservation, waste reduction, and materials
recycling. It reflects Kennametal’s dedication to lead by example in protecting our planet
not just for this generation, but for many still to come.
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They annually present Environmental Health and Safety Excellence awards to:
• Reward and recognize extraordinary efforts in EHS throughout the organization.
• Promote EHS awareness and involvement among all employees.
• Share best practices among all sites.
• Inspire EHS greatness throughout Kennametal.
The environmental initiatives are an integral part of their sustainability strategy, driving
business value while creating a better environment.
a.3 Innovation
At Kennametal, innovation is defined as the process of delivering ever increasing
business value to its customers. Innovation at Kennametal is not a function, it is a
business process that is customer driven and owned by all functions collectively.
The key metric of an innovative company such as Kennametal is the percentage of its
revenue generated from new product sales. An innovative company must be continually
bringing new products to market, and having them perform more successfully than the
products they replace.
a.4 Customer
As customers drive toward more sustainable productivity, they look to Kennametal for
innovative solutions that help them achieve their goals. In fact, in 2009 it began a total
reorganization of their company, making it more customer centric and market focused.
Helping customers meet their overall goals is clearly an objective of Kennametal’s
sustainability program. They focus on products that provide customers with lower fuel
costs, reduced packaging requirements, lower transportation costs, and improved product
performance.
a.5 Performance
Kennametal’s FY 2011 financial performance demonstrates the company’s ability to
operate effectively and profitably in a challenging global environment, and to be a top-tier
financial performer.
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Kennametal delivered improved overall performance in spite of uncertain market
conditions. This was the result of careful planning and execution. Over the past few years,
Kennametal’s management team has consistently demonstrated both of these capabilities,
while redefining their business and positioning the company to perform in a sustainable
manner in virtually any operating environment.
a.6 Integrity
Kennametal is diligent in communicating the values of integrity throughout the entire
organization. The Kennametal Code of Conduct serves as the compass and bearings for
the company’s strong commitment to integrity, always doing the right thing, and doing
what they say they will do, every time.
b. Staff:
There are more than 500 employees who are working dedicatedly to meet the goals of the
organization. Customer Satisfaction and the organizational values are the motivators for
the employees of Kennametal. The organizational culture is such that there is no
difference between the employer and the employee. All the employees of the organization
are treated equally.
c. Strategy:
The Strategies of Kennametal India are as follows:
c.1 WIN THE CUSTOMER:
Earn a reputation as the most knowledgeable and easiest to do business with. Develop and
retain customers, and deliver enhanced productivity solutions. Become the recognized leaders in
customer loyalty, know-how and satisfaction, and increase our penetration into core markets and
existing customers.
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c.2 ADVANCE WITH TECHNOLOGY:
Deliver market-leading advances, innovations and customer delivery systems that will
enhance our global competitiveness. Achieve product line renewal at an unparalleled pace. Make
today’s technological upgrades tomorrow’s tools for maintaining our advantage.
c.3 COMMIT TO EXCELLENCE:
Consistently deliver quality products and service solutions, on-time, and at record industry
lead times. Maximize Lean processing to achieve top-tier performance and companywide
financial excellence.
c.4 GROW FOR PROFIT:
Build and maintain a balanced portfolio of Products, Markets and Geographies- the “Thirds,”
and consistently grow our enterprise at twice the market rate. Achieve organic, inorganic and
emerging market growth with the focus on profitability and shareholder return.
c.5 ENSURE MISSION READINESS:
Acquire, train and manage talent for the challenges ahead, and be seen as the employer of
choice for the best people. Develop a flexible, effective and ever-ready team that can deliver
the best solutions faster and more accurately, and exceed customer expectations.
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d. Structure:
Kennametal India Ltd follows product organization structure approach. Activities are
divided on the basis of individual product lines. The marketing, production, finance are
contained within each department. The organization also have a centralized finance and
Human Resource function. The organization structure is as shown.
Organization Structure of MSG - Kennametal India
Managing Director
Kennametal India Ltd.
Head - Finance,Legal
Head - HumanResource
Head - MetalForming
Head - MetalWorkingBusiness
Head- MachiningSolution Group
(MSG)
Special PurposeMachine
Flex series Fixtures /Tooling
Special VerticalTurning Machines
Ecogrind
DesignMarketing& Sales
Assembly After SalesService
SCM
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e. Systems:
The following are the systems that are present in Kennametal for smooth working of the
organization.
ISO 9001 Certified system
ERP-SAP system for order booking and other process
Auto-CAD and other computer aided tools systems for designing of machines.
f. Style:
Kennametal is an Organization following a lean structure.
The managers follow the method of Management by Objectives in order to achieve the
organizational goals. Every morning a small meeting with the manager and subordinates
is done and all the activities for the day will be planned. The managers here acts as
leaders and not just as managers. They are not autocratic.
g. Skills :
Skills are the capabilities of the staff within the organisation. MSG- Kennametal India is
the largest manufacturer of Special Purpose Machines in India.The manufactures a entire
range of machines for 2- wheeler and 4- wheeler vehicles.The company’s skill lies in
Analysis: Assuming the relative market share of WIDMA to be 40% and similarly assuming the
market share of local competitors 1 and 2 to be 30 and 20% respectively, it can be analysed that the
available brand equity to enter the industry for new company is only 6% (100-(42+32+19)).
Interpretation: Thus, for a new entrant very less percent of market share is available to enter the
industry. In such situation the threat from the new entrants is very low.
Note: The relative market share is assumed because the actual data is not available and finding the
market share is out of the scope of this study. The same is being done by the third party.
Department of MBA, PESIT Page 54
2.3 Switching costs
Risk in switching the
manufacturer
Total
Percentage
Respondents
No
risk
Moderate
risk
High
risk
WIDMA GDM
user since how
many years
1 - 2 Yrs. 1 1 0 2 5%
2 - 3 Yrs. 1 3 0 4 9%
3 - 5 Yrs. 0 3 0 3 7%
< 5 Yrs. 7 25 2 34 79%
Total 9 32 2 43
Percentage Respondents 21% 74% 5%
TABLE-10: Study of relationship between Level of risk an individual customer feels in
switching the manufacturer & No. of years since a customer is using WIDMA machine.
Analysis: As analysed from bargaining power of customer that WIDMA has many customers who
are using its Gun drilling machine for more than 5 years (TABLE-10). Also, from TABLE-10 it can
be analysed that most of the respondents feel that there is moderate risk in shifting from one
manufacturer to another. Only 21% respondents feel that there is no risk in switching from one
manufacturer to another.
Interpretation: Based on above analysis it can be interpreted that most of the respondents would not
like to switch from one manufacturer. But, this can be due to the fact that there are few
manufacturers. Thus, if customers do not face significant one-time costs from switching suppliers, it
is more attractive for new firms to enter the industry and lure the customers away from their previous
suppliers. In such situation the threat from new entrants is high.
Department of MBA, PESIT Page 55
2.4 Capital Requirement
DEPARTMENT MONTHLY EXPENSES IN RUPEES
FIXED COSTVARIABLE
COST TOTAL COST
SALES DEPARTMENT 3,52,11,360.00 10,96,000.00 42,36,32,320.00
ASSEMBLY DEPARTMENT 51,48,66,400.00 13,70,000.00 6,17,97,66,800.00
DESIGN DEPARTMENT 3,57,91,760.00 23,84,500.00 43,18,85,620.00
SCM DEPARTMENT 3,53,34,960.00 16,85,000.00 42,57,04,520.00
SERVICE DEPARTMENT 7,91,400.00 8,80,500.00 1,03,77,300.00
TOTAL 62,19,95,880.00 74,16,000.00 7,47,13,66,560.0062.20 0.74 747.14
Total variable cost distributedover 5 years 44.50Total cost incurred in 5 years 106.70Assuming avg. cost of Gundrilling machine 5000000 213.39No. of machines to bemanufactured in a year to breakeven 42.68
TABLE-11: Capital requirement calculation for Gun drilling machine manufacturing
Analysis: From TABLE-11 it can be analysed that the total fixed cost is 62.20Cr. & the totalvariable cost distributed over 5 years is 44.50 Cr. So, a total cost incurred in 5 years is 106.70 Cr.,considering 50L to be the average cost of the GDM, the total cost incurred is 213.4 Cr. Thus, in orderto breakeven over a period of 5Yrs. The company should manufacture 43 machines per year.
For a local manufacturer, the initial investment of 106 Cr. is very high and he has only 6% of theavailable market share to sell his machines which is less.
For an International manufacturer, there should be a proper provision of service as and whenrequired by customer. This at the moment is not available as per respondent feedback.
Interpretation: Based on the analysis, the threat from new entrants is low in this case.
Department of MBA, PESIT Page 56
2.5 Customer loyalty to established brands
WIDMA GDM user? Total
No Yes
Would you go with the
manufacturer who is new to
industry
No 18 35 53 87%
Yes 4 4 8 13%
Total 22 39 61
TABLE-12: Customer loyalty to established brands
Analysis: WIDMA has a brand loyalty of 53% among the customers, which is quite high. In such
case the customer shifting from WIDMA to new manufacturer is very less. This can be proved from
the TABLE-12, which says that 87% of the respondents are not going to buy from a manufacturer
who is new to the industry.
Interpretation: It can be interpreted that, when coming to customer loyalty, WIDMA has many
loyal customers. Thus, the threat of new entrant in this situation is low.
2.6 Customer loyalty to established brands
Analysis: WIDMA has a brand awareness of 53% among the customers, which is quite high. In such
case the customer shifting from WIDMA to new manufacturer is very less. This can be proved from
survey, which says that 87% of the respondents are not going to buy from a manufacturer who is new
to the industry. Also, from respondents it was found that 94% of them are ready to re-purchase
WIDMA machine based on their previous experience with WIDMA.
Interpretation: It can be interpreted that, when coming to customer awareness, WIDMA has many
loyal customers. Thus, the threat of new entrant in this situation is low.
2.7 Absolute cost
Analysis: WIDMA has good location, long term arrangements for access to raw materials, better
production and good access distribution system. These all provide low absolute costs.
Interpretation: Any new entrant will also be in a position to have low absolute cost. Thus, there is
moderate threat from the new entrants.
2.8 Industry Profitability
Analysis: The SPM industry has very moderate profitability. Longer the presence in the industry,
higher the profitability.
Interpretation: As there is moderate profitability in this industry, the new entrant would not see it
attractive to be in this industry.
Department of MBA, PESIT Page 57
3. Threat of New product or Substitutes
3.1 Buyer Propensity to substitute
Percentage replacement by MQL 16%
Percentage replacement by Machining centers 22%
Percentage replacement by Twist Drill 17%
Max.% Replacement to GDM among customer application 22%
TABLE-13: Buyer propensity to substitute products
CHART – 6: Percentage replacement by substitutes
Analysis: From survey it can be analysed that, as per respondents only 22% of the machining can be
shifted from Gun drilling machine to any of the known substitutes (TABLE-13). Moreover, many
respondents are unaware of the available substitutes for Gun drilling machine.
Interpretation: It can be interpreted that, since most of the respondents are unaware about any
substitutes for Gun drilling machine, there are chances that they will get information about available
substitutes from any source and may shift from Gun drilling machine to that substitute. In such
situation the threat from new product or substitute will be definitely high.
Department of MBA, PESIT Page 58
3.2 Relative price performance of substitute
GPM - impact on Cost per piece MQL- impact on Cost per piece
No. of respondents 70 No. of respondents 27
Decrease in cost per piece as per no. of
respondents
36 Decrease in cost per piece as per
respondents
17
51% 63%
Average 57%
TABLE-14: Relative price performance of substitute
Analysis: From TABLE-12 it can be analysed that the average percentage of relative price
performance by substitutes is 57%. But the decision of substituting GDM by other product cannot be
done based only on cost. When it comes to application and feasibility the substitutes fail to match the
performance of Gun drilling machine. Thus, there is every less chance that the Gun drilling machine
will be replaced by any of the substitute.
Interpretation: The threat from the substitutes in terms of cost per piece when compared to Gun
drilling machine are low. Thus, the threat from the substitutes in this case is high. But when other
impacts such as quality of machining, speed of machining, etc. are considered the threat from the
substitutes is low.
3.3 Buyer Switching costs
Analysis: It is analysed that the switching cost for the buyer from existing product to any new
product or substitute is moderate.
Interpretation: Since very few respondents are aware of any of the substitutes, they going of
immediate switching for a new product or substitutes are very moderate.
3.4 Perceived level of product differentiation
Analysis: The cost of the substitutes such as machining centers and MQL are very less in
comparison with Gun drilling machine. But most of the respondents are unaware of any of the
substitutes. But the quality of machining is not as good as the one obtained from Gun drilling
machine.
Interpretation: Since most of the respondents are unaware of any substitutes, the threat from
substitutes in terms of cost and quality is low.
3.5 No. of substitute products available in the market
Analysis: From survey it can be analysed that only three substitutes are known to few respondents.
Thus, most of the respondents are unaware of even existence of any substitute for Gun drilling
machine.
Interpretation: Since there are very few available substitutes, the threat from these substitutes islow.
Department of MBA, PESIT Page 59
4. Bargaining Power of Vendor
4.1 Supplier Switching costs relative to firm switching cost
Analysis: The cost for switching from firm to another for a vendor is very high as he cannot
effectively in terms delivery, payment terms and quality. Moreover, firms have many vendors to rely
on, whereas the vendor has only few firms on whom they have to rely to do business.
Interpretation: Since the cost of switching for a vendor is very high, the bargaining power of
vendor is low.
4.2 Impact of inputs on cost or differentiation
Analysis: From survey done on 29 important components of Gun drilling machine, it was found that
there are only 10% of the components which had differentiation effect on the Gun drilling machine.
Also, there were possibilities that those components would be available with other vendors with
same parameters.
Interpretation: It can be interpreted that the vendors have very low bargaining power as only 10%
of the components purchased have differentiation effect on Gun drilling machine.
4.3 Supplier concentration to firm concentration ratio
Analysis: Since there is no data available pertaining to all other manufacturer a vendor supplies the
same component, it is assumed that the top suppliers to this industry have less than 30% of the
market share.
Interpretation: Since top suppliers to this industry have less than 30% of the market share, the
bargaining power of vendor in this case is low.
4.4 Supplier ability to forward vertically integrate
Analysis: From the study it has been observed that there are no such suppliers with ability to forward
vertically integrate.
Interpretation: Since there are no suppliers with the ability to forward vertically integrate, the
bargaining power of vendor is low in this case.
Department of MBA, PESIT Page 60
FINDINGS
By this study it is found that WIDMA is established brand among Gun Drilling Machine
manufacturers in India.
MQL Drilling Operation is not a direct substitute threat for Gun Drilling Process but only a
technology, which even WIDMA can adopt and gain expertise.
Gun Drilling Operations can also be possible to move into Machining Centers which can be a
threat to SPM Gun Drilling Machines.
Costs per piece from Gun drilling machines are higher when compared to General Purpose
Machining centers.
Gun Drilling machines are not flexible.
Gun Drilling Machines occupy more space than general purpose machines.
Gun Drilling Machines connected load / Power consumptions are higher when compared to
General Purpose machines.
Presently very less Competition from China, but once they start providing proper service,
they are major threat to WIDMA.
Presently less competition from US and European Gun drilling manufacturers in terms of
Quality. This is mainly because of less service provision from US & European
manufacturers.
Gun Drilling Machines should be standardized to some range to get higher market share to
beat competition.
Department of MBA, PESIT Page 61
SUGGESTIONS
1. WIDMA should improve on the parameters such as Quality, Features, Performance,
Delivery, Service and Aesthetics of Gun drilling machine. This would help WIDMA in
differentiation of their machines.
2. WIDMA should always maintain healthy relationships with the existing customers and
should try to make them loyal customers, which in turn would not allow any new entrants to
erode the market share of WIDMA.
3. WIDMA should try to make Gun drilling machines more flexible as most of the respondents
were ready to buy a machining center with Gun drill as attachment.
4. MQL is a technology and not a new product. WIDMA should manufacture more and more
machines with MQL technology to gain expertise and minimize the threat that MQL would
capture the market share of Gun drilling machine.
Department of MBA, PESIT Page 62
CONCLUSIONS
From the analysis of bargaining power of customer, it can be concluded that the bargaining
power of buyer is moderate. The main reason for being high is because there are many
manufacturers. With passage of time there are possibilities that few more manufacturers
would enter the industry. Also most of the respondents are unaware of any substitutes
available for Gun drilling machine. Once they come to know about the existence of
substitutes, they most likely to go for the substitutes because of their reduced machining
costs.
From analysis it can be found out that the threat from new entrants is moderately low. The
main reasons for low threat levels are high initial capital requirement, many loyal customers
and moderate industry profitability. Since only less percent of market share is available for
entering the industry, the treat is low.
From analysis it can be found out that the threat from new entrants is low. The main reason
being that most of the respondents are unaware of any existing or available new product or
substitutes for Gun drilling machine. Moreover, the quality of output is not same when
compared with the output of Gun drilling machine.
From analysis it can be found that the bargaining power of vendor is low. This is because,
there are many suppliers and very few firms which manufacture Gun drilling machine. Also
most of the suppliers are from small scale industries.
Thus, based on the analysis of the Porter’s forces it can be concluded that there is no threat to
the Gun drilling machine in coming future.
Department of MBA, PESIT Page 63
Kennametal-Gun Drilling / Deep Hole Drilling Machine Survey
Dear Sir,
We are thankful for the association with us in the past and also for valuable future association.
We are conducting a market study on Gun Drilling / Deep Hole drilling machine to understand itsperformance & application requirements from industry experts.
In this survey we are conducting survey for both WIDMA as well as non WIDMA Users.
We have chosen you as an industry expert for providing us with your valuable responses, whichwould help us in providing with better product and service in future. Thus, we expect your responsesto be from industry expert point of view.
We request to spare 15 20 minutes of your precious time for this valuable survey of ours.
Your responses will be known to us & we assure you that the information / data provided by you willnot be disclosed to the third party and the result of the study will be used for improving product andservices to the industry.
Thanking you once again and look forward for early response from you.
To begin with the survey kindly click on "Next" button below.
Yours Faithfully,
Team WIDMA,
Kennametal India.
*1) If you think of Gun Drilling / Deep Hole Drilling Machine for your machining application.Which make would come into your mind at the first instance?
*2) Are you a user of WIDMA Gun Drilling Machine (GDM) / Deep Hole Drilling Machine?
Yes No
If “NO” directly go to question 10.
*3) Since how many years you have been using WIDMA GDM?
Less than 1 Yr. 1 - 2 Yrs. 2 - 3 Yrs. 3 - 5 Yrs. More than 5 Yrs.
*4) How many WIDMA GDM's have you purchased or used till now?
Less than 3 3 - 5 6 - 10 11 - 15 More than 15
Department of MBA, PESIT Page 64
*5) How would you rate WIDMA GDM in terms of(where 1 - 2 Very Poor, 3 - 4 Poor, 5 - 6 Good, 7 - 8 Very Good, 9 - 10 Excellent)
PARAMETERS 1 2 3 4 5 6 7 8 9 10
QUALITY
FEATURES
PERFORMANCE
DELIVERY
SERVICE
VALUE FOR MONEY
AESTHETICS
*6) Do you agree that WIDMA GDM's are equipped with better technology/features whencompared to other Domestic manufacturers?
Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
Can't say, since haven't used any domestic manufacturer's GDM
Department of MBA, PESIT Page 65
*7) Do you agree that WIDMA GDM's are equipped with better technology / features whencompared to European manufacturers?
Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
Can't say, since haven't used any European manufacturer's GDM
*8) Using WIDMA GDM, will
Reduce cost of machining
Improve quality of machining
Required performance is achieved
None of the above
*9) Consider a situation wherein you need to finalize the supplier based on the price difference(among domestic manufacturers).At what price difference (in percentage) would you not consider WIDMA GDM?
Less than5%
5 - 10% 10 - 15% 15 - 20% More than 20%
*10) You have/are used/using non-WIDMA GDM for/since........... Years.
Zero Yrs. Less than 1 Yr. 1 - 3 Yrs. 3 - 5 Yrs. More than 5 Yrs.
*11) How many non - WIDMA GDM's have you purchased / used till now?
Zero 1 - 3 4 - 7 7 - 10 11 - 15 More than 15
Department of MBA, PESIT Page 66
12) When you are in need of GDM, who all are the manufacturers you would consider forbuying (Other than WIDMA)?
* A)
B)
C)
D)
13) How would you rank all the manufacturers mentioned by you along with WIDMA?
In case you have not mentioned any names in option B, C & D of above question, kindly rankthose as NA. (Rank 1 is highest & 5 is lowest)
NA 1 2 3 4 5
WIDMA
A)
B)
C)
*14) Select the location of the GDM / DHD Machine Manufacturer you mentioned in theprevious question
Only in India
India , US , UK and Europe
India and Other Asian Countries
India , US , UK , Europe and Other Asian Countries
Department of MBA, PESIT Page 67
*15) The quality and reliability of the Gun Drilling Machines manufactured by Chinese / OtherAsian Countries will be....
Better than WIDMA
Equivalent to WIDMA
Poorer than WIDMA
Will not rate since I have not used Chinese/Other Asian countries m/c
Will not rate since I have not used WIDMA m/c
Will not rate since I have neither used WIDMA nor Chinese/Other Asian Countries m/c
*16) Consider a situation wherein you have to make a choice from one of the below
I Low cost Chinese GDM, where machine needs to be imported from China, with no servicenetwork in India.II GDM which is of moderate cost, but is of good quality and comes with good serviceprovision, which is manufactured in India.III Low cost Chinese GDM, where machine needs to be imported from China, with moderateservice network in India.In such case what would be your decision?
GO WITH I GO WITH II GO WITH III
*17) Consider a situation wherein you need to finalize the supplier based on the pricedifference (considering WIDMA & Chinese / Other Asian manufacturers).
At what price difference (in percentage) would you not consider WIDMA GDM?
Less than5%
5 - 10% 10 - 15% 15 - 20% More than 20%
Department of MBA, PESIT Page 68
*18) How would you rate Chinese / Other Asian country 's Gun Drilling Machine in terms of
19) Which of the technologies similar to gun drilling are you aware of or you think are capableof replacing the GDM? (For any of your machining application)
A
B
C
20) According to you how much percentage of machining would shift from GDM to any of theabove technology? (If you have not mentioned any technology in above question, kindly selectNA)
NA Zero% 0 - 10% 10 - 25% 25 - 50% 50 - 75% < 75%
A
B
C
Department of MBA, PESIT Page 69
*21) What according to you would be the impact if GDM's are brought to / converted toGeneral Purpose Machining centers?
INCREASE DECREASE REMAIN SAME
COST PER PIECE
INVENTORY COST
*22) Whether your application of deep hole drilling can be done in general purpose machiningcenters with Gun Drill / Deep Hole Drill as attachment (Without compromising on the qualityof output) ?
Yes No
*23) According to you, what percentage of the jobs can be done on general purpose machineusing Gun Drill as attachment for your machining application?
Zero%
> 10%
10 – 25%
25 – 50%
50 – 75%
< 75%
*24) Are you aware of MQL (Minimum Quantity Lubrication) technology?
Yes No
If “NO” kindly go to question 31
*25) Have you ever used MQL for any of your machining purpose?
Yes No
If “NO” kindly go to question 31
Department of MBA, PESIT Page 70
*26) For which application had you used MQL?
*27) Based on your experience with MQL, What is the performance & machining quality levelwhen compared to Gun Drilling / Deep Hole Drilling?
Excellent
Good
Neutral
Fair
Poor
*28) Whether MQL would be able to replace GDM for any of your machining application?
Can replace completely
Only partially
It cannot replace GDM
*29) What according to you would be the impact on machining if MQL technology isimplemented compared to GDM? (Select the suitable option from below)
INCREASE DECREASE REMAIN SAME
QUALITY OF MACHINING
COST PER PIECE
*30) According to you, what would be the percentage of machining that MQL would bereplacing that of GDM in your machining applications?
Zero % > 10% 10 - 25% 25 - 50% 50 - 75% < 75%
Department of MBA, PESIT Page 71
*31) Consider a situation wherein you have to make a choice from one of the belowI) GDM which is of moderate cost, but is of good quality and comes with good serviceprovision, which is available in India.
II) GDM is highly priced with excellent quality and features, but less service provision and alsothe machine needs to be imported from Europe / U S / Japan.In such case what would be your decision?
GO WITH I GO WITH II
Kindly share your views on option chosen by you.
*32) If you consider switching from present manufacturer to other manufacturer, whataccording to you would be the level of risk that you will be subjected to?
No Risk Moderate Risk High Risk
*33) To reduce the machine delivery time , if we (WIDMA) standardize the GDM (in terms ofsize, range, feed, etc. ) in few models, so that you can choose any one model which can beconfigured to suit your requirement with limited options.
Will you go for purchasing it?
Yes No
*34) Would you go with the manufacturer who is very much new to the industry?
Yes No
*35) Would you go with the manufacturer who already exists in international market but isoperating for the first time in domestic market? (No production & limited service facility inIndia).
Yes No
Department of MBA, PESIT Page 72
*36) How likely are you to recommend WIDMA to people you known?
Always
More Frequently
Less Frequently
Never
Not used WIDMA yet
*37) Based on your experience with WIDMA GDM, would you go for buying it next time?If no who would you go for?
Yes No
Not used WIDMA yet
38) How many GDMs you might require at the end of
* First Year
* Second Year
Third Year
*39) What would be your suggestion to WIDMA in order to maintain / start relationship withyou?
We thank you for the valuable time which you have provided us through this survey.
This survey will definitely help us in providing you with better product and service.
Regards,Team WIDMA
Department of MBA, PESIT Page 73
BIBLIOGRAPHY
Text Books:
Quantitative methods for business by Anderson ,sweeney and Williams.
Referencess:
www.kennametalindia.com
www.imtma.com
A report on the Indian capital goods industry-2011