Dr Reddy's Hyderabad facility joins Global Lighthouse Network of the World Economic Forum

11 Oct 2022 , 01:02 PM

The World Economic Forum has recognised Dr Reddy’s Laboratories Ltd., a multinational pharmaceutical corporation, for the Global Lighthouse Network (GLN), which includes its largest production site in Bachupally, Hyderabad.

With this honour, the facility gets entry into the Global Leadership Network (GLN), a group of more than 100 manufacturers who are demonstrating leadership in the application of Fourth Industrial Revolution (4IR) technologies to improve productivity, workforce engagement, sustainability, and supply chain resilience.

A joint project between the WEF and McKinsey & Company is called GLN. An impartial team of experts chooses the factories and value chains that will become GLN members.

The journey has already produced notable results at the site, including a 43% improvement in manufacturing costs, a 30% reduction in production lead time, a 41% reduction in energy consumption, and a significant decline in quality deviations, said the company on Tuesday.

These results were achieved in response to business scenarios of price erosion, sustainable manufacturing practices, the need for constant vigilance, and the maintenance of uncompromising standards of quality.

At around 1.04 PM, Dr Reddys Laboratories was trading at Rs4,263.80 apiece, down by 2.67% from its previous closing of Rs4,380.90 on the BSE. The scrip touched intraday high and low of Rs4,405 and Rs4,252 respectively.

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