Quality Management System
Quality Management System (QMS) is widely used in today's world, it is often misconstrued and used in the wrong context.
Quality Management System is the holistic approach towards homogenizing and standardising business process procedures to the internationally recognised standards. Hence paving the path for any organisation to further develop their quality and quality management system.
Quality Management System is often interlinked and confused with Total Quality Management (TQM), TQM is and QMS are similar in nature but have vast differences (Please refer to TQM in the subsection for detailed information).
A QMS integrates the various internal processes within the organization and intends to provide a process approach for project execution. A process based QMS enables the organizations to identify, measure, control and improve the various core business processes that will ultimately lead to improved business performance.
A Quality Management System in its basic concept is quite simple. It seeks to,
- Recognize interested party requirements including Licenses to Trade, guidelines, customer requirements, and the chosen management system standard(s).
- Ensure that all requirements have been met.
- Confirm that employees receive applicable training in the quality system requirements.
- Determine processes, their interaction, inputs and outputs.
- Produce records or evidence that system requirements have been met.
- Measure, monitor and report the performance of the QMS.
- Plan changes to the QMS and take actions to address risks and opportunities as a result of changes.
- Perform internal audit to analyze the QMS and correct nonconformities.
- Continually improve the QMS.
An effective quality management system will enable an organisation to effectively and efficiently deliver solutions continuously. Without any deviations whereas continuously improving their process. Which will help them effectively meet client's expectation and increase the organisation's brand value meanwhile enabling cost reduction. QMS also broadens business opportunities by demonstrating compliance.
Our Unique Service includes:
Our lead ISO Certified implementer facilitates organisations in migrating to ISO 9001:2015 Quality Management System, by creating frameworks to implement QMS, establishing of documentation process and management compliance to ISO 9001:2015 QMS. Our lead certified ISO 9001:2015 Auditor then audits the whole organisation, its structure and quality management system in place, recommends to fill any gaps if present and then certifies the firm to be ISO 9001:2015 complaint.
Our competitors in this market doesn't offer such a comprehensive QMS system and certification scheme like we do! .
Enterprise Risk Management
Enterprise risk management (ERM) is a plan-based business strategy that aims to identify, assess and prepare for any dangers, hazards and other potentials for disaster – both physical and figurative – that may interfere with an organization's operations and objectives.
It calls for identifying the potential risks faced by the business and creating strategies or business processes to mitigate those risks. The risk mitigation steps are communicated to shareholders, stakeholders and other potential investor on a quarterly or annual basis.
Types of risk faced by companies:
- literal, detrimental losses due to fires, thefts and natural disasters
- lawsuits and claims of damage, loss or injury
These risks are mitigated through property insurance and liability or malpractice insurance.
Key element in Enterprise Risk Management is tackling business risk, that is risks that are associated with the business. Such as particularly technological failures, company supply chains and expansion – and the costs and financing of same. Many businesses use capital markets to mitigate such risks such as using commodity derivative market to hedge their raw material prices or futures currency options. But there are certain risks intrinsic with the business and capital markets cannot be used to mitigate such risks.
Our risk managers who are ISO 31000 certified will identify and analyse business risk which are relevant to your business and industry specific risk, and create solutions and formulation on how to mitigate them to ensure a sustainable growth.
Our risk managers are vastly experienced in risk management will develop frameworks, action plans, management process, communication process ensures business risks will be eliminated, thus reducing your company's exposure to risk. Being ISO certified enables our risk managers to implement best practices and globally recognised and certified frameworks and management actions to mitigate risks, which you can bank upon.
Our risk management framework creates estimates of various scenarios affecting your business and creating contingency plans for reducing the impact of the risk.
As well as creating action plans which is preventive in nature to reduce the probability or chances of your organisation facing such risks which we had identified which is often termed as "Upside of risk".
Having an effective risk management plan which meets international standards and implemented by ISO 30001 certified risk managers will not only reduce risks faced by your company, leading to losses in financial terms, resources and other intangible losses but will also increase shareholder and stakeholder confidence thus creating value for your organisation.
Business Continuity Management
Enterprise Risk Management and Business Continuity Management share the common goals of identifying, assessing, and managing interruption risks that could serve to prevent achievement of their strategic objectives.
Business Continuity Management can be described as a process of identifying and responding to fast – approaching, high – impact interruption risks that can overwhelm inherent operational resiliency.
Business Continuity Management has the added value of helping the organization identify operational resiliency improvements that can greatly enhance their ability to weather interruptions that would otherwise significantly challenge competitors.
Business Continuity Management captures and mitigates the risk which is internal to an organisation which can be as simple as IT server failure to flooding or riots causing supply chain to be disrupted. Business Continuity Management also accounts for sudden loss of resources- human and materialistic and creates a system to counter them and have a fast acting contingency plan. It includes disaster recovery, business recovery, crisis management, incident management, emergency management and contingency planning.
Business Continuity Model
Our business continuity managers who are ISO 22301 trained and certified will analyse your organisation's critical processes and business functions, potential disruptions which will greatly impact the business. Our managers will create frameworks and management practices and standards which will enable you to protect your business before the disaster occurs and create programs to recover business in critical conditions. Thus minimising the threat of disruption and minimising financial and non financial losses.
Petrodia also offers auditing of Business Continuity Management, with it's experienced and ISO 22301 Certified lead auditors, your organisation will be able to confirm its Business Continuity Management System in accordance to ISO 22301, where the system of reporting, conducting and planning of Business Continuity Management is regulated and audited to confirm to the required international standards. Thus it will increase the stakeholder and shareholder confidence of your organisation resulting in value creation, because a well managed, audited and regulated BCM system conforming to ISO 22301, will always tend to minimise risks and losses due to unforeseen crisis.
Occupational Health & Safety audit Management
Work place injuries are common,
and one doesn’t necessarily have to work in hazardous industry or hazardous
work zone to sustain work related injuries.
Work place injuries are common
and can be sustained in an office-based job such as working in an IT firm or an
accounting firm. There are several types of injuries employees can sustain such
as slipping on wet floor to falling from the staircase. These injuries can be
fatal and can cause a lot of damage to the organisation such as financial damages
while settling lawsuits and employee compensation, which will also have a
negative impact on the company’s brand image. Hence reducing shareholder and
stakeholder confidence and interest.
Occupational hazard or injuries
is not the only concern for employers and employees alike but having a standardised
industrial hygiene is equally important. Having a standardised industrial hygiene
will reduce work place related ailments and reduce the risk of developing long
term disability such as back pain, permanent damage to wrist and shoulder because
of sitting for long hours in front of the computer in wrong posture, hearing
disability as a result of not using ear protection while handling heavy
machinery and, gastroenteric diseases due to improper eating schedule and emotional
stress and mental well being due to workload and lack of social life.
Hence having an effective
industrial hygiene programme reduces the long-term health risks to employees
which reduces their turnover rate due to poor health, hence leading to higher
productivity and creates a value for your organisation as such programmes puts
across a message to employees, that their employer cares about them. Hence
increasing stakeholder engagement and shareholder confidence in the brand.
Having occupational health and
industrial hygiene programme in place will ensure lower claims cost for health,
insurance, and lawsuits, meanwhile ensuring value addition to the organisation.
Our expert occupational health
and safety management experts and industrial hygienists who are ISO 45001
certified (Formerly OSHAS 18001) have vast years of experience in building
standards for occupation heath, safety, and industrial hygiene in Oil & Gas
industries’ onshore, offshore, and corporate offices. Thus, having a broad
exposure to hazardous and non-hazardous workplaces.
Our experts are competent in conducting
gap analysis of the current health and safety programme, creation of standards
for health, safety, and industrial hygiene to ensure that your organisation’s
health and safety management programme adheres to the ISO 45001 which will give
it a conformity and standardisation of all the procedures, documentation, and
processes.
Our lead occupational health
and safety management auditors who are ISO 45001 certified auditors, will be to
explain the purpose of an occupational health and safety management system, of
occupational health and safety management system standards, of management
system audit, of third-party certification, and the business benefits of
improved performance of the occupational health and safety management system.
This auditing system will
certify your organisation’s occupational health and safety management system’s
conformity to the ISO 45001 standard, thus increasing business value and
thereby will be able to gain more business and talent due to this added value
creation.
ISO 45001 migration
OHSAS 18001:2007 was the previous standard for Occupational Health Safety Management, recently this standard has been reviewed and migrated as ISO 45001.
Organisations who are following OHSAS 18001: 2007 need to migrate to ISO 45001 within 2 years as the previous standard is no longer valid. Migrating to ISO 45001 has some difficulties as there are some amendments from the previous standard, one has to carefully comprehend the amendments before implementing it as it may result in disqualification whilst being audited.
We provide migration services from OHSAS 18001 to ISO 45001 were our ISO 45001 certified lead implementer will be able to help you and your organisation understand and implement ISO 45001 effectively. Our implementer will:
- Identify what needs to be revised in your current management system
- Understand Key Differences between OHSAS 18001 and ISO 45001, in your organisation's implementation point of view
- Create an action plan that you can apply immediately
- Implement key differences using good practice guidance
With our valuable expert guidance and action plans, your organisation can efficiently migrate to ISO 45001 from OHSAS 18001, without facing immense difficulties while implementing.
Our migration strategy devised by our Implementation experts will enable your organisation to quickly migrate to ISO 45001, hence reducing business process down time, cost saving on restructuring and establishment of new standards and procedures.
Hence reducing cost for your organisation and increasing stakeholder interest and value in your firm. Leading to increased business prospects and revenue generation.
Share holder and Stake Holder Engagement
Stakeholder engagement includes the formal and informal ways a company stays connected to its stakeholders (the individuals or parties that have an actual or potential interest in or impact on the company, its operations and financial results). Stakeholders often have the ability to influence the success (or failure) of a company at various levels.
A primary objective of corporate stakeholder engagement is to build relationships with stakeholders to better understand their perspectives and concerns on key issues (including CSR issues) and to integrate those perspectives and concerns (when and where feasible and prudent) into the company’s corporate strategy.
To communicate between various stakeholders within the organisation, we can help you create a Stakeholder Engagement Plan (SEP) which will ensure effective communication between the various stakeholders in the organisation and will be a key factor for your organisation's success.
Our Stakeholder Engagement Plan (SEP) encompasses around:
- Identifying the diverse group of stakeholders- who are going to be most impacted by the project, who are the stakeholders who have more financial and non financial interest in the project/organisation and who is the most important stakeholder for this project or organisation.
- Identifying who the stakeholder representatives are
- Create a system to solicit their feedback
- Incorporating their feedback into your organisation's strategic planning
- And having effective channels to report back to them.
Our SEP is delivered using Business Intelligence tools (BIs) so that all the levels of management actions and all stakeholder activities and their reports and feedbacks are channelised, compiled and presented in an intelligent manner hence reducing jargon and ensuring that only the concerned levels of management and Strategic Business Units (SBUs) get the desired report, feedback and information.
Which will inturn help them carve out a strategic plan to further enhance their operation, whereas aligning all various stakeholder interests and SBUs to achieve organisational goal. Having a snowball effect on streamlined operations as everyone's expectation and interest levels are aligned hence increasing profit margin.
Shareholder engagement/activism
Shareholder activism on CSR issues (particularly those focused on environmental and social (“E&S”) issues) continues to rise, necessitating further engagement between companies and their shareholders and other stakeholders. It would benefit companies to effectively engage their shareholders, and other stakeholders as necessary, on those issues so that
- Related stakeholder concerns can be proactively discussed and addressed
- Companies may be able to avert a potentially costly and prolonged proxy fight
- Relationships between companies and their stakeholders may be nurtured.
Today's shareholders are more inclined to sustainable and responsible investing, as reports suggest that shareholders analyse a company's Corporate Social Responsibility (CSR) activities and their reports before making an investment decision.
We at Petrodia believe in sustainable and responsible business operation and investing, with our vast expertise in various industry domains from extremely Environmental impact causing industries such as Oil & Gas industries to low Environmental impact firms such as IT industries.
We are well versed with various industries CSR activities and their shareholder engagement strategy, thus we the right expertise to develop and establish a shareholder engagement plan. Our action plan ensures that all of the shareholders concern be it institutional or individual shareholder, their voices and concern is heard.
We identify business activities which has the most impact on the social, natural and economic environment and devise process enhancement strategies and operating procedures which would minimise the impact on the environment.
Petrodia uses appropriate management reporting tools are used to voice their concerns with analysis and statistics showing trends in shareholder's sentiments towards the organisation's business activities. We provide further enviornmental, economic and business impact assessment organisation's business activities on the social, natural and economic environment to compare with shareholder sentiment trends and with the actual impact caused by your organisation.
We provide gap analysis on your organisation's current CSR activities and provide recommendations and steps to re strategize your CSR activities based on our impact assessment and shareholder sentiment.
If your organisation does not have any CSR activities in place then we will create a CSR strategy for your organisation from our impact assesment and we will conduct various other assesment such as feasiblity assesment to ensure CSR activties planned by us will be effectively put into plact to name a few, which will enbale your organisation to mitigate the risk created via your business activities and increase shareholder confidence in your firm.
Bottom line:
Having an effective shareholder engagement plan and realigning business activities and CSR activities to minimise the risks identified via impact assessment and also aligning business activities towards shareholder sentiments will increase shareholder confidence in your firm thus increasing their level of investment. Which will inturn enable you to leverage your brand image in the capital market to increase equity funding for business expansion, ultimately resulting in higher revenue generation.
TQM (Total Quality Management)
Total Quality Management (TQM) is the continuous process of reducing or eliminating errors in manufacturing, streamlining supply chain management, improving the customer experience, and ensuring that employees are up-to-speed with their training.
TQM is a management style that implies non stop process of quality improvement of products, processes and personnel work. It can be seen as a collective of methodologies that drives a company to meet their strategic goals through unceasing quality development.
It
is focused on production of goods and services that possess high-quality from
customer’s viewpoint. TQM was elaborated on basis of Edward Deming's theory.
This philosophy was successfully started many years ago in Japan and USA. TQM
has shown phenomenal results and now it is used in many successful enterprises
all across the world. It allows obtaining faster, fundamental and more
efficient business development, because it stimulates production of much better
products and services for better prices.
Important aspects of TQM include
customer-driven quality, top management leadership and commitment, continuous
improvement, fast response, actions based on facts, employee participation, and
a holistic TQM culture.
Our TQM gurus have been
continuously improving quality in Petrodia as well as for our other clients
over the past decade or so. Our gurus will ingrain a culture of quality and
continuous improvement in your organisation, making your organisation reach the
quality standards which your competitors do not possess. Giving you the
strategic edge for gaining market share! As Mintzberg states quality is an
essential business strategy tool.
Our talented and experienced gurus
will create a quality management framework for your organisation, create
quality awareness in your organisation, set policies and manuals for the
employees and management alike to ensure total quality management is
implemented and followed in a holistic manner.
Petrodia’s QC auditors and TQM
implementers, work closely to ensure that your organisation has the right and
effect quality control framework and measures in place thus conforming to the
international quality standards such as ISO 9001 etc.
Having an effective quality control
in place for the goods and services offered will increase the quality and
reliability of your products translating into increased customer satisfaction,
thus increased brand value!
Six Sigma Implementation
Lean: Lean
is an approach that focuses on reducing the lead time of any process and
eliminating wastes from activities that do not add value. It’s about doing
things quickly.
Six Sigma: It
uses a powerful framework (DMAIC/DMADV) and statistical tools to uncover root
causes to understand and reduce
variation. It’s about doing things right.
What is Process Improvement?
•Process
improvement is a series of actions taken by a Process Owner to identify,
analyze and improve existing processes within an organization
Why do we Need Process Improvement?
•To
ensure key business processes are optimal and efficient to achieve high
productivity and minimal cost
•To
continuously delight customers and stakeholders
Petrodia's Process Improvement Techniques are built on the fundamentals of Lean Six Sigma Methodologies which are:
Continuous Process Improvement forms the core philosophy of Petrodia's operational Excellence as a result Petrodia carries out various studies and projects where constant process improvement techniques are applied to improve the organisation's operational process and their business operations led by our core team of Lean Six Sigma Black Belt specialist who are accredited by American Society for Quality.
We provide consulting services to firms who want to improve their processes for optimal efficiency by assessing and developing operational strategy using Six Sigma methodology and framework. Thereby bringing our client's operational and cultural environment to Six Sigma environment, thus reducing waste, reducing risk and increasing production/productivity and quality.
Petrodia's accredited Lean Six Sigma Trainers also provides Lean Six Sigma Black belt training to train through various practical and classroom based exercise to quality personals in assorted range of Industries to achieve Black Belt Certification.
Lean Manufacturing
Lean
manufacturing, lean
enterprise, or lean
production, often simply, "lean",
is a production practice that considers the expenditure of resources for any
goal other than the creation of value for the end customer to be wasteful, and
thus a target for elimination
Petrodia performs Lean Manufacturing consulting based on KanBan methodology, wherein 'Just In Time' (JIT) production methodology is followed. Hence enabling less wastage of resources, increasing the Mean Time To Failure (MTTF) of Safety Critical Instruments thereby enabling optimal performance of the plant and in turn increasing revenue and decreasing costs due to wastage and down time.
(The above figure shows a generalised Lean Manufacturing Process)
Petrodia has provided Lean Manufacturing Consulting solutions to various firms from its vast experience gathered from condition monitoring of plants especially of Oil & Gas firms.
Business Impact Assessment
The Business Impact Assessment (BIA) is the foundation upon which decision
making and strategic planning upon which the whole of the Business Continuity Management (BCM) process is built.
It
identifies, quantifies and qualifies the business impacts of a loss,
interruption or disruption of business processes or services rendered for a
customer business or supporting customer business process and provides the data
from which appropriate continuity strategies can be determined.
Without proper BCM an organisation's operations will be severely hampered, leading to loss of income, reputation and client's trust.
Business Impact Assessment enables organisations to identify root causes which may disrupt normal business operations (BAU) and devise contingency planning to avoid such disruptions.
An organisation may face many disruptions be it fire hazard, site accidents, incompetent staff leading to untoward incident which may cause major disruption to business operation, also environmental and political issues which may disrupt business operation. Improper Business Impact Assessment may not cover all the root causes or subsequent causes which will may hamper normal business operations of an business.
Our experienced experienced assessors will leave no stone unturned in assessing various hazards and possible causes of incident which may impact business operation and develop a stringent Business Continuity Plan (BCP) which will eliminate any possible issues which may impact operations. Our many many years of experience from Competency Assessment program, incident investigation, hazard mitigation enables us to have an edge over any other service provider providing Business Impact Assessment and Business Continuity Planning.
Financial Services
Petrodia offers various financial services and shared services, in the
last few years it has been pioneering financial services field by offering
various financial services solutions such as Auditing, providing financial
services outsourcing solutions – right from procuring an item to financial
planning and analysis thus increasing the productivity for your company by
freeing up resources in your organisation to focus on core operational
services. Not to mention reducing costs for your firm in carrying out non-core
activities. Petrodia also offers portfolio management and financial risk
management.
Business Financial Consulting Services
Petrodia offers financial services on the following towers-
- ·
Procure
to Pay- P2P
- ·
Order
to Cash- O2C
- ·
Record
to Report- R2R
- ·
T&E
- ·
FP&A
We have various in-house automation
tools which will transform your business the way it operates. Our financial automation suite will leverage our productivity by offering various levers, hence enabling us to increase the productivity of each of your financial processes thereby increasing productivity for your company at
1/3rd the cost which you would have paid by keeping these services
in house.
Thus benefiting your organisation by having a standardised and cost effective financial services at a lower cost of operation. Driving business value into your organisation
We have highly talented workforce
working in each of the towers, who are led by highly experienced team leaders
and managers who have been in this field for the past 10 years having worked in
Multinational Firms in India and abroad.
Financial Management
Petrodia offers portfolio management
and financial risk management, backed by its exceptionally talented pool of
fund managers and risk managers who have vast experience and have graduated
from top B schools in the world.
Our fund managers actively manage
clients’ portfolio to ensure our client’s get more returns for their investment
than what was actually stated in contractual agreement.
We have various clientele belonging
to various walks of life, who are extremely satisfied with our services.
Petrodia offers financial risk management to
various organisations in India belonging to various sectors. Our risk managers
being highly experienced and knowledgeable in this field of work has been able
to offer massive value to our clients and has been the cause of saving billions
and increasing revenue for corporations and SMEs
