We gave the entire procurement activity of
lower quadrant items to mjunction...
Mr. Ranjan Sinha
Chief – Procurement, Tata Steel
In our product portfolio matrix, there were many items in the lower quadrant and these items were losing value as our team couldn't dedicate enough time. So we gave the entire procurement activity of lower quadrant items to mjunction.
Within next 2-3 years mjunction brought in a lot of new initiatives. They could spend time on this, developed expertise in those category groups and they could also synergise from their other operations.
Tata Steel till last year was handling about 20,000 purchase requisitions from its different customers out of which 5,000 were under the low quadrant. The total value was about 500 crore and mjunction was able to bring in approx 10% savings which is close to 50 crore during the year.