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The Vinod Gupta School of Management (VGSoM) had the privilege of hosting Mr. Vivek Bhatia, MD and CEO, thyssenkrupp Industries, India on August 7, 2019. A distinguished alumnus of IIT Delhi and IIM Calcutta, Mr. Vivek Bhatia has served in several reputable organizations such as Engineers India Limited and The Boston Consulting Group before gracefully leading thyssenkrupp to unparalleled heights. An industry leader who constantly enlightens those around him, Mr. Vivek Bhatia had taken time off his busy schedule to interact with the eager students of VGSoM.
In an era where 90% of startups fail within the first two years, thyssenkrupp has mastered the art of the industry by thriving for the past 200 years. Generating annual revenues of more than €40 billion with over 160,000 employees in more than 2000 locations in 80 countries, thyssenkrupp has been recognized by MIT Technology Review, TIME Magazine, and Harvard Business Review for their unwavering commitment to industrial solutions. Mr. Bhatia elegantly explained the secret to their success. From artillery manufacturing in the early 19th century to the state of the art submarines thyssenkrupp manufactures today, change has been the only constant. thyssenkrupp’s ability to cater to dynamic global requirements has made it a pioneer in areas such as electrical steel and manufacturing of thinnest steel cans in the world. Mr. Bhatia further went on to talk about the integration of the physical world with data networks which optimizes manufacturing processes like steel manufacturing. He lucidly explained how the clients and the manufacturers benefitted from linking the IT systems with the production processes to achieve “just in time” production. He also spoke in great detail about their revolutionary predictive maintenance of elevators through MAX. MAX begins with a real-time diagnosis. Several sensors keep track of the health of the components, which then computes the remaining lifetime of the components. The details are stored in a private cloud server which is monitored over time. When a component approaches its “end of life”, technicians are directed to repair the specific component before it fails. Mr. Bhatia then concluded by explaining the importance of partnerships, transformation, and innovation in the workplace.
The students of VGSoM were left in awe in the presence of such a tall personality as they listened attentively to his words of wisdom. Mr. Vivek Bhatia had left a lasting impression on the budding managers at VGSoM as he eloquently answered all the questions posed by the students. He truly inspired the hundreds who listened to him in the interaction they would never forget.