- Tata AutoComp has achieved a 36% compound annual growth rate (CAGR) in revenue from FY 2020 to FY 2024 during the implementation of the Total Quality Management (TQM) process.
- Tata AutoComp Composites Division is the first entity in the global Composites industry to receive this prestigious recognition
- Tata Ficosa is the first auto-component company in India to win the Deming Prize in the Vision Systems product category
Tata AutoComp Systems Limited, a leading automotive components conglomerate serving Indian and global OEMs, announced today that two of its entities— Tata AutoComp Composites Division & Tata Ficosa—have been awarded the prestigious Deming Prize for 2024. Widely regarded as one of the highest global honours for excellence in Total Quality Management (TQM), this recognition underscores Tata AutoComp’s commitment to customer centricity, quality and operational excellence.
The Tata AutoComp Composites Division stands out as the first entity in the Composites industry worldwide to receive this honour. Similarly, Tata Ficosa has set a benchmark as the first auto-component company in India to be awarded the Deming Prize in the Vision Systems product domain. Tata AutoComp focuses on growth through new technology and innovation, profitability through improved efficiency, and customer centricity through improved quality and performance.
Commenting on the recognition and how it aligns with their business, Mr. Arvind Goel, Chairman of Tata AutoComp Systems said, ” Receiving the Deming Prize is a significant milestone in our Total Quality Management journey. With a steadfast focus on customer centricity, ongoing improvements, and active participation of all employees, across the organization, this is the path that will drive our sustained progress and future success. Our focus on innovative, sustainable solutions and cutting-edge technologies is driving Tata AutoComp’s rapid expansion across the mobility market.”
“The Deming Prize is a testament to Tata AutoComp’s commitment to Total Quality Management (TQM), which serves as the cultural foundation that unites our diverse organisation and international stakeholders. Our future plans include integrating these practices at the group level and extending the learnings to our suppliers, driving continuous improvement in quality performance and elevating the overall value of our products,” added Mr. Arvind Goel.
Tata AutoComp has demonstrated strong growth with a 36% compounded annual growth rate (CAGR) in revenue from FY 2020 to FY 2024, achieved as a result of the implementation of its Total Quality Management (TQM) practices. Both Tata Ficosa and Tata AutoComp Composites Division also experienced remarkable growth during this period. Additionally, both divisions significantly enhanced product quality, reducing customer rejection rates to single digit PPM (Parts Per Million) , in line with international standards.
Tata AutoComp’sstrategy is centred around addressing the customers’ challenges, which opens up new avenues for innovation and improvement. The four vehicles of TQM— Policy Management, Daily Work Management, Cross-Functional Management, and Total Employee Involvement—are integral to Tata AutoComp’s approach. Receiving the Deming Prize marks a pivotal achievement in Tata AutoComp’s journey towards excellence. The company remains committed to involving every employee in this pursuit, ensuring that quality is a shared responsibility at all levels.
