Traxon Technologies bags Team of the Year - Materials & Construction award at HKB Management Excellence Awards 2021
The team adapted its structure and new way of working to combat the challenges of global market downturn amidst COVID-19.
Traxon Technologies is a global leader in architectural lighting solutions and general lighting systems. During the pandemic, Traxon successfully implemented projects that helped salute the great contribution of medical personnel across the world, sharing love and care to people and putting the world in high spirits to combat the pandemic challenges.
As one of the engines driving the business of Traxon Technologies, the Product Portfolio Management (PPM) team is the bridge connecting the market needs to the manufacturer, enabling customer-focused solutions to support strong sales activities and business growth. The PPM team adapted its structure and new way of working this year to combat the challenges of the global market downturn due to the impacts of the COVID-19 pandemic, having to rethink working opportunities in a lean structure, leveraging technology and communication tools, cutting down the paperwork, and boosting the creativity and the sense of urgency.
This lean organisation changed from a former matrix type of organisation, wherein everyone focused on their tasks and communications following rigid and inflexible rules, to a lean value chain-based project-oriented flow.
The change in their way of working has hugely helped in turning the business around, reducing operation costs by 25% whilst driving the business growth by almost 20% in the past 12 months.
At the same time, the team created a new pace for product releases and achieved “impossible” project deadlines. Since the new setup of the PPM team, the product release has increased by 300% per quarter, launching an average of 10 new products per quarter, compared to three with the previous organisation.
Everyone in the team also had close and direct access to the sales team, promoting a new way of working and driving an extremely quick exchange of ideas and instant feedback of proposed solutions.
These outcomes have cemented Traxon Technologies’ achievement to win the Team of the Year - Materials & Construction award at HKB Management Excellence Awards 2021. The new organisation allowed its team members to get extremely passionate in turning complex projects to big wins.
The prestigious awards programme honours Hong Kong’s most outstanding business leaders. It is on the lookout for trailblazing individuals, innovators and teams whose initiatives have brought tangible business gains for the success of their companies.