MANUFACTURING COMPETITIVENESS THROUGH SIX SIGMA IN STEEL INDUSTRY

Abstract

In the present era of globalization, companies place significant importance on enhancing their manufacturing competitiveness and showcasing their achievements through competitive reports based on various guidelines and indicators. Measurement of manufacturing competitiveness has emerged as a crucial aspect of organizational operations. It is fundamental in evaluating and monitoring a company's progress toward achieving global manufacturing competitiveness. Examining the correlation between firm performance and manufacturing competitiveness in the steel industry holds tremendous significance for academics, researchers, and policymakers. Over the past few decades, there has been a significant increase in literature focusing on firm performance and manufacturing competitiveness. Managers often encounter difficulties in assessing the profitability of their manufacturing competitiveness. As a result, two key questions arise: How can manufacturing competitiveness be effectively measured? Secondly, what is the influence of firm performance on the manufacturing competitiveness of Indian steel organizations? To address these inquiries, this study conducts a thorough analysis and investigation, aiming to develop a proposed model of manufacturing competitiveness. This model is grounded in theoretical foundations and explores their practical implications for organizations. The research also incorporates empirical data to support and validate the proposed model. Within the current body of literature, numerous indices have been established by different authors and researchers to assess manufacturing competitiveness. These indices employ various dimensions to capture the essence of this concept. However, only a limited number of studies have incorporated new dimensions specifically relevant to the manufacturing competitiveness of the Indian steel industry. Consequently, there is a crucial requirement to focus on measuring manufacturing competitiveness utilizing these new dimensions. Additionally, there is a need to develop an index that effectively measures manufacturing competitiveness in the unique context of the Indian manufacturing sector. The available literature in the field encompasses numerous studies investigating the link between firm performance and competitive advantage. However, the research conducted on this relationship using new dimensions remains inconclusive. The Indian manufacturing sector contributes significantly to the country's GDP and employment.