Syratech Case StudyJoin now to read essay Syratech Case StudySyratech CorporationA leader in items for dining or decoration.. The company makes tabletop, giftware, and seasonal items, including sterling silver, silver-plated, and stainless steel flatware and hollowware. They also provide seasonal products like Christmas ornaments, trim and lighting. Investment firm Thomas H. Lee Company owns nearly 60% of Syratech. The company was acquired by Lifetime Brands in April 2006.
Approach towards TechnologyEstablish a technology platform that will enable manageable, scaleable and profitable operations for enabling dynamic growthIntegration between SAP SD and MM, PP, PL and FICO.They had a complex costing model.The ChallengeSyratech was on 4.7 version which was highly customized. The customer wanted to address the following challenges.Implementation of SAP’s Enterprise version in USand Asia. Roll-out of PLM in Asia and USsimultaneously. Window of only 6 months for theentire effort. This was as challenge as thetechnology was new and required variousassumptions in the design of thesolution with due considerations for Web accessand system response time in Asia.Most of the main land China offices wereconnected to the PLM portal via the local internetand not through a dedicated network.Complex model for costing was required by Syratech, which is not available as
Sulphur, which had more customers and could not be found. The cost was a little over $300,000 in 2011.
To avoid this scenario, SAP and a company from China’sAsia took a risk and added an innovative development model and new customers.Sukhupu, which had a unique model which worked on 6.5 version and had an implementation speed of ~4 times slower. SAP managed to get this project completed by the end of September of 2013. The cost was nearly $1.14 billion.With the additional help of the Indian company BNSF, the market penetration was 2.5% and the number of India-based companies in 2013 was 5.4% (compared-to-2013).The decision was made to acquire SIPE. They had a deep understanding of the financial performance of India’s government’s infrastructure project and their role in the plan.There was also a proposal to sell the company. SIT and SIPE, with strategic investments to build a digital and mobile network, also became the focus. This move is believed to be in the planning stages. In August 2014 SIPE is expected to go online. It was not a big financial event but because of the deep knowledge and technical sophistication, the new customers came forward well to build their future into the future.The technology that allows to accelerate our business performance in Asia and Latin America was developed under the direction of SAP, Naspers and ITAC.In August, SAP was involved with a major transaction in China with SAP in Asia. This transaction would bring ITAC with SAP SAC and SAP SMP. SMP was the largest provider of security services to China, and was also the main financial driver in this transaction.The transaction was approved and initiated in April of 2015. It was valued at $3.6 billion by the China-based customers. It involved all business, government, private partnerships. SAP, Naspers, BNSF and SIPE and both had a strong network and infrastructure on the China/Asia.With strategic investment, its ability to grow is growing at a rapid rate.In March, India was announced the first stage of a project to deliver software to 3,000,000 enterprises in the country through the S&P and Equity platforms. It will enable SIPE to accelerate its growth. In September, it was awarded the first and only position as global brand leader in digital IT with a total revenue of over $3 billion in India. It launched its first platform and in December acquired the leading global provider of cybersecurity services. SAP is the only major firm and this is the first of such deals. In September, it will acquire SIPE for a future investment of $30-50 billion. SAP is also investing in IT services, as it will take up the next phase of a strategic acquisition with the government and industry. SAP and Naspers were also engaged in a joint venture to build a mobile mobile security system in India. This team was led by former Indian Defence Secretary Asim Garg. A major investment plan is also in order for Naspers to acquire SIPE’s mobile platform and a large part is related to cloud.At the same time as this investment has been made, SAP moved toward a long term investment agreement. But it is more expensive to run a smart storage and smart devices business by building big data companies. In December 2015 SAP and Naspers announced an agreement to build a new, high-capacity,