The Mumbai-based specialty tire maker recently received the Deming Grand Prize for total quality management (TQM), making it the first tire company to earn the distinction, the company said.
CEAT s among just 33 companies to ever receive the award. Others to have received the honor since 1970 are Toyota Motor Co. Philps Taiwan, M&M-Farm, Tata Steel and Komatsu Ltd.
"Securing the Deming Grand Prize is a phenomenal achievement for Ceat and a resounding testament to the relentless dedication and unwavering commitment of every member within our organization," Amit Tolani, CEO of CEAT Specialty Ltd., the U.S. subsidiary of CEAT Ltd., said in a statement.
"… This award reflects our pursuit of excellence, our unyielding commitment to innovation and our steadfast devotion toward exceeding customer expectations. It serves as a powerful source of motivation, propelling us to reach newer heights in our industry."
To earn the Deming Grand Prize, a company first must have received the Deming Prize, which awards business excellence for setting and achieving challenging business objectives and strategies that are customer-focused and quality-oriented. CEAT received its Deming Prize in 2017.
Companies also must demonstrate TQM principles, concepts and techniques across the entire organization, including supplier and distribution networks.