From the desk of
A falling rupee is the clearest indicator that India is losing its global competitiveness. In addition, slowing domestic industrial activity and weak global economic environment are taking a toll on India's growth. After manufacturing activity contracted in July, the services sector -economy's growth engine - too is sputtering. Hotel occupancy has fallen 15%, and unsure of payments, IT cos are shying away from government projects. With the fourth issue of buyjunction connect we try and bring to you a synopsis of current economic scenario, industry trends, market analysis and indepth report on the Ferro Alloy Market. The newsletter captures a few of buyjunction's success stories in some core procurement categories that we specialise in. We hope that this newsletter will help you understand how we add value to our client's businesses through innovation and in-depth analysis of their requirements. We only strive to create win-win deals for you.
Vinaya Varma Vice President, buyjunction
Vinaya Varma, Vice President, buyjunction
Credits Chief Editor: Mihir Gandhi Content: Anirban Sarkar, Rakhee Biswas Gandhi Ferro Alloy Category Expert: Sourav Chakraborty Mentor: Linus Lobo, Vinaya Varma
Index Indian Economy in a Vicious Circle........ 2
CMS Service Snapshot................ 15
Free Trade Agreements........................... 4
Case Studies.......................... 16
Some More Insights................................ 4
New Clients Signed up........... 16
Business Confidence Survey................... 5
Client Testimonials.....................x 18
Ferro Alloy Report.................................... 11
BuyJunction Solution................................. 14
Upcoming Events................... 19 1
Indian economy is caught in a vicious circle. A falling rupee, slowing industrial activity and weak global economic environment are taking a toll on India's growth. The Reserve Bank of India (RBI) lowered its growth projection for Indian economy to 5.5% in 2013-14 against its earlier forecast of 5.7%. The central bank, thus, joins a long list of global agencies that have done the same. While the onset of the monsoon and its spread have been robust, the persisting weakness in industrial activity has heightened the risks to growth. Moreover, global growth has 12.0 been tepid, with consequent adverse spillovers on India's exports, manufacturing and services.
A stubbornly high consumer inflation rate and a ballooning current account deficit have forced the RBI to keep interest rates high. For the first time, the 12th Five-Year Plan that runs from 2012 to 2017 uses scenarios to reflect the implications of different types of policy behaviour. A recent update of the macro economic scenarios presented in the plan document by NCAER projects a less rosy picture.
Indian economy prospects, various scenarios STRONG INCLUSIVE GROWTH Govt vlgorously pursues reforms in governance and regulatory systems and pending economic reforms; virtous cycles kick in Growth as per XIIIth plan estimate
NCAER’S avg growth projection (12 17)
Current account deflict (avg)
Poverty Ratio (avg)
Fixed Invesment (avg)
INSUFFICENT ACTION Partial action with weak implementation, half herted efforts that dont create virtuous cycles
POLICY LOGJAM No reforms creats vicious cycles and political logjam, Govt barely functions - Invesment and employment slips
ELEVENTH PLAN AVERAGE 11th Avg
Eleventh Plan period is 2007-2008 to 2011 -12, XIIIth Five year plan rune from 2012-13 to 2016-17 Source: NCAER Economic Modelling of Emerging Scenarios for India’s Twelth Fith year plan.
Total forex reserves
Monthly Imports $bn
25 8.0 20 6.0 15
8.0 150 6.0 129.5 100 4.0
10 4.0 5 2.0
Non Oil Non Gold imports
16.5 (Feb 2005)
11.0 10.0 15 9.0 8.0 10.0
11.0 10.0 12 9.0 11.8 8.0 10.0
7.010 8.0 6.8
Import cover is the number of months Indiaâ€™s forex reserves can sustain imports if there are no in flows
The drop in non oil, non gold imports over the last few months means that manufacturing and other businesses,some of which help in exports arefacing tough times. Along with poor IIP numbers, it may indicate industrial slowdown. INRUSD EXCHANGE RATE
INDIA CURRENT ACCOUNT
11.0 9.0 2
7.0 8.0 0 5.0
7 Jan/ 00 Jan/ 02 Jan/ 04 Jan/ 06
Current account deficit is estimated to be around 5% of 5 GDP in the last fiscal year ended March 31, compared with 4 the previous year's 4.2%. Although, the gap narrowed to 3.6% of GDP in Q1 of 2013, weak rupee is likely to drive it higher in the months ahead.
Rupee has plunged to a record low 65 on August 23rd against dollar, has lost over than 10% this year. High current account deficit and speculation that the U.S. Federal Reserve will begin slowing its monetary stimulus programme has caused unprecedented decline in value of Indian currency. Depreciating currency may boost exports, but is also likely to make imports more expensive. 3
Free Trade Agreements Indian government will enter into free trade agreements with countries to fight domestic inflation. Indian government is likely to chalk out a country-wise strategy for each free trade agreement it has signed â€” before inking any new one. Exports to several countries including Japan and Singapore, with which India has FTAs, has shown a declining trend, while imports from most of these countries have shown an increase. India has also signed FTAs with South Korea and Malaysia, and is looking at pacts with the European Union and Pakistan. This will put a lot of pressure on domestic industry to maintain market share and top line prices. They will have to tighten their belts and become even more cost competitive.
Australia to host second round of RCEP talks in September. CEOs and representatives of 15 top industry chambers from 12 Asian countries - China, Indonesia, India, Japan, Korea, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and Taiwan - are participating in the Summit.
15 -600 10 5
The RCEP seeks to achieve a modern and -10 comprehensive trade agreement among members. The core of the negotiating agenda would cover trade in goods and services, investment, economic and technical cooperation and dispute settlement. The partnership would be a powerful vehicle to support the spread of global production networks and reduce the inefficiencies of multiple Asian trade agreements that exist presently.
Some more insights :
The new WPI (Wholesale Price Index) is due to belaunched in coming months.
The New Wholesale price index Base year revised from 2004-05 to 2009-10
6 4 1400
Items in the commodity basket nearly doubled to 1130 from 676 items ealier
2 -1300 0
The index is expected to be launched after six months
Manufacturing basket expanded with new categories like: Musical Instruments Guitar Harmonium Brass wind Instruments Musical Instruments Strings
Games and Toys
Sports Goods Cricket Ball Cricket Bat Football
Tennis Racquet TT Ball Hockey Stick and Ball
Playing Card CarromBoard Dolls Baby Cycle
What is worrying bankers
Top corporates that have been borrowing through commercial paper may see costs rise. Lenders say that if RBIs measures continue for over eight weeks, they may need to review their interest rates.
RBI may not succeed in taming the rupee soon which may result in the impact of short term measures boiling over to long-term rates. At present, they are absorbing short-term costs.
RBI Concern More about the economic uncertainty in Europe, US Federal Reserve withdrawing liquidity, Indiaâ€™s current account deficit and supply constraints which are driving up prices. After rupee stabilizes RBI has promised to cut rates with growth slowing down and signs of inflation easing.
What do banks want Banks have asked RBI to insulate them from the collateral damage of the central banks moves to curb currency speculation. They have asked RBI to allow them to hold bonds without making provisions for depreciation. They also want relief from provisions on restructured loans.
Indian manufacturing sector stagnates as output and new orders continue to fall
Key findings Third consecutive decline in production volume Input & Ouput price inflation accelerate Level of positive sentiment lowest in eight months Output in the service sector rises at slower rate, while manufacturers register a contraction New business growth in the private sector weakest in 50-month expansionary sequence HSBC India Purchasing Managers IndexTM (PMITM) 50 = no change on previous month, S. Adj. 65 Increasing rate of growth
60 55 50 45
Increasing rate of contraction
Business Confidence Survey The new financial year has started on a low note for Indian businesses. And any hopes that last year's reforms would turn around the Indian economy have evaporated into thin air. The Business Today-C fore Business Confidence Survey for the April-to-June period of 2013 found that sentiment among corporate leaders turned for the worse for the first time in four quarters, due mainly to a steep drop in the
value of the rupee. On a scale of 100, the confidence level is at 48.7 in the first quarter of 2013/14, down from 54.5 in the previous quarter. Not only has the trend changed, the confidence level is the lowest ever since the first survey was carried out in 2011.
54.5 53.8 52.4
DOWNHILL DRIVE Business sentiments have weakened for the first time in four quarters
BCI by Sector There is a sharp decline in business sentiments across all sectors.
dust Light In
BCI by Size
The Pessimism is shared by businesses of all sizes. Oct-Dec 2012
Big* Business Medium Business
46.9 53.4 54.4
Micro Business Business Confidence Index on a scale of 100
*Big Business: Turnover > `500 Crore. Medium Business: Turnover `100-500 Crore. Small Business: Turnover `5-100 Crore. Micro Business: Turnover < `5 Crore.
REVERSE GEAR The Business enviourment deteriorated in April-June 2013 over the previous quarter
Overall Economic Conditions Nearly half the respondents felt conditions worsened during April-June
3 Finance Availablity More than half said fund availablity dropped
Hiring Conditions Nearly Half said hiring declined
15 40 2005
Substantially Moderately Worse Worse
Moderately Substantially Better Better
Almost half said demand fell
Substantially Substantially Same/No Change Better Worse
Moderately Substantially Better Worse
Demand Conditions Substantially Better Moderately Better Same/ No Change
More than half felt profit margins shrank
Same/ No Change
A significant proportion of executives expected economic prospects to improve. This was in line with the survey results of the preceding two quarters, where the government's decisions to encourage foreign investment in September 2012 triggered a wave of positive sentiment.
preceding quarter. On the contrary, a fourth of the executives expect economic prospects to get substantially worse. The depreciating rupee has been accompanied by a series of negative developments. The Reserve Bank of India (RBI), which had reduced interest rates three times in 2013, decided to pause in its June & July policy announcement. The weak rupee is also impacting trade. In the survey, three in five said they expected imports to fall in the quarter through September. Only 18 per cent felt the same way in the previous survey.
In a reversal, only three per cent of executives polled in the latest survey expect economic prospects to get better, compared with 39 per cent who were upbeat in the
BLEAK FUTURE Companies see few reasons to cheer in the July-Sept quarter.
Overall Economic Situation
Overall Financialc Situation
Three fourths of the respondents feel the situation will worsen
30 Substantially Worse
Same/ No Change
Availability of Finance Nearly half expect decline Substantially Better .....
Three in Four are pessimistic
Same/ Moderately Substantially No Change Better Better
Overall Business Situation
More than half expect no change
Same/No Change .........
40 ......... Moderately Worse
Substantially Worse Figures indicate percentage of respondents
......... Same/No Change
......... Substantially Worse
The only benefit of the rupee's slide will likely show up in exports. Expectedly, 46 per cent of the executives surveyed felt exports would pick up in the current quarter. The survey also shows nearly half the executives expect the availability of finance to worsen in the current quarter. Industry feels that the government is not acknowledging the problems businesses are facing. The negative developments in the foreign-exchange market have also outweighed positive news elsewhere. Global credit rating firm Fitch has upgraded India's rating outlook to stable from negative. Towards the end of the quarter, the government decided to increase the price of locally produced natural gas. The move followed a series of other measures taken over the past year to increase prices of fuel products such as diesel. Immediate reform measures needed include resolving problems in infrastructure development, fuel supply to power companies, and land acquisition. Prioritisation and addressing simple issues will help in reviving business confidence.
Forty one percent expect order books to shrink
Same/ No Change
3 Selling Prices Pickup Three-Forths are pessimistic
Cost of External Finance
Cost of Raw Material
Over two-thirds feel the situation will deteriorate
More than half expects costs to rise
The majority sees little change in hiring activity
Three in five expect imports to fall
Same/ No Change
Less than half feel exports will increase
Same/ No Change
Has the state governance made you look for investment opportunites outside india?
A whopping 90% are pessimistic
5 Moderately Better
Figures indicate percentage of respondents.
Methodology What stands out in the survey is the significant proportion of respondents who feel the overall economic environment and business situation will substantially worsen. Between 25 per cent and 30 per cent of the respondents expect the situation to substantially worsen. They are not alone in expecting things to get worse on the macro front. In a report on financial stability released in June, the RBI said that macroeconomic risks facing the Indian economy have increased during the past six months. The study also outlines four imperatives for procurement in 2013.
Market research agency C fore conducted the survey for the April-to-June quarter. The field work was done in June. A structured questionnaire was administered to CEOs/CFOS of companies. Five hundred CEOs/CFOS representing various industries in terms of sector and size were interviewed. The survey was conducted in 12 cities - Bangalore, Bhubaneswar, Chandigarh, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Lucknow, Mumbai, Nagpur and Visakhapatnam. The companies were segmented based on turnover as well as products. Those with a turnover of over `500 crore are termed as big, those with a turnover of `100-500 crore as medium, those with a turnover of up to `100 crore as small, and those with a turnover below `5 crore as micro businesses.
Ferro Alloy Report Overview The major demand drivers of ferro alloys are : Crude Steel Production Alloy and Special Steel Production
Stainless Steel Production
Current Market Scenario The Indian Ferro Alloy market is passing through a dull phase as the demand from major consuming sectors like steel, is weak at present due to overall sluggish economic conditions & also the on-going monsoons. The slowdown in demand has led to pressure on Ferro-alloys prices. In many cases, although there have been fewer production cuts to keep in term with the prevailing demand scenario, however the low demand from user end, has led o building up of inventories, thus
putting pressure on prices. In addition to all this,the weakening rupee and the fluctuating exchange rates are further adding to the volatility of the market. In the following sections, we would have a quick overview of the prevailing market scenario of some the ma-jor Ferro Alloys alongwith the trends of major cost drivers like raw materials & others like Exchange rate,power charges etc.
High Carbon Ferro Manganese The major cost drivers for HC FeMn are the prices of Mn Ore & Power rates. In recent past, the Manganese alloys market has been characterized by poor demand. The domestic prices as governed by MOIL have remained unchanged from previous quarter whereas the imported manganese ore prices are reeling under pressure. In line with raw material movement, the domestic Ferromanganese market is also exhibiting a phase of slowdown, owing to bleak demand from steel & other sectors
with onset of monsoon. However, not keeping in termswith domestic market,there have been updates about increase in enquiries from some overseas lo-cations like Middle East. The weak rupee is helping exporters achieve better margins and traders have kept their offer prices stable. Current offers for (70-75%) are in the range of $950-970 FOB India. Prices in the domestic market are expected to drop in the short run in absence of any major indication on the revival of demand and buying activities.
Current Market prices:Currently the spot price of HC Ferro Manganese is hovering in the range of Rs.54000/MT (Ex-works)
Price trend of HC Ferro Manganese in the last 6 months,is as shown below:MTHC Ferro Manganese (Mn-70%) price, Ex works India 54400
53900 53400 52900 52400 02-01-2013
Silico Manganese The major cost drivers for SiMn are the prices of Mn Ore ,power charges, prices of LAM Coke/Coal etc. In line with the sluggishness of the economy, the Silico manganese market is also passing through a phase of reduced demand / lack of buying interest. Domestic Manganese Ore prices as published by MOIL have re-mained unchanged from the last quarter.
Lower demand from major sectors, weak fundamentals and even weaker prices have brought down the buying interest in many cases. All these have resulted in creating pres-sure on domestic prices. The export prices have however followed stable trend where in prices are hovering at $810-820/tonne FOB East-coast India for 60/14 grade and $930-940 /tonne FOB East-coast India for 65/16 grade.
Current Market prices:-
The spot price in domestic market have shown a downward trend in recent weeks ,where the spot prices are hovering around Rs. 50000-51000/MT (Ex-works India).
Price trend of HC Silico Manganese in the last 6 months, is as shown below:Silico-manganese (Mn 60%, Si14%)- Ex works India 56000 55000
53000 52000 51000 50000 02-01-2013
Ferro Silicon The major cost driver for Ferro silicon is power charges alongwith other ones like raw material,overhead charges,exchange rates etc. The Ferrosilicon prices in India have off-late shown signs of improvement in prices, despite of no significant development in demand scenario. The rising trend in price, is expected to continue in near future, mainly backed by tight supply and higher production costs.
This is further aided by higher offer prices from producers based in Bhutan where power tariffs have been increased significantly in recent past. In the Indian domestic market, some major ferro-silicon producers have halted production in the wake of lukewarm demand from steel mills,thus resulting in limited availability of material in the spot market.
Current Market prices:-
It is understood that a sizeable portion of the supply in Indian market,comes from manufacturers based in Bhutan & North Eastern India, where the current spot offer prices are in the range of Rs.74000-75000/MT (Ex -works). However, the spot prices offered in other parts of the country have not shown any significant change in recent weeks and are hovering around Rs. 71000/MT (Ex-works). Ferro Silicon( Si -70%), Ex works India
Rs/M Rs/MT T
54400 74000 53900 73000 53400 72000 52900 71000 70000 52400
Ferro Chrome The major cost drivers for Ferro Chrome are prices of raw material like Chrome Ore, power charges & ex-change rate trend. In India, although Chrome Ore is offered by major manufacturers like OMC and TATA FAMD,however the material is also imported from places like Oman, Turkey, South Africa and Russia owing to limited/restricted avaliability. In line with the prevailing scenario, the Ferro-chrome market in India is also witnessing weak demand from major user sectors like stainless steel industry which is a major consumer of the material. Although the do-mestic prices have not seen any major price correction and have
maintained a stable trend in recent weeks, it is believed that low enquiries from domestic & overseas users, alongwith cheap offers for Chrome Ore and capacity enhancement in various countries, may put pressure on prices in near future. The on-going fluctua-tions in exchange rate is believed to be adding up to a situation where the market trend is not following any stable trend.Export offers for Indian-origin ferrochrome 60% Cr stand at $0.85-087/lb CFR China, down from $0.86-0.88 /lb CFR a week ago due to lower Chinese domestic prices as major Chinese mills are said to have dropped their August purchase price.
Current Market prices:Currently the spot price of HC Ferro Chrome is hovering in the range of Rs. 70,500-71,500/- per MT (Ex-works India). 56000
Silico-manganese (Mn 60%, Si14%)- Ex works India 55000
Rs/M T Rs/M
52000 73.000.00 51000
The Buyjunction Solution Due to the increasing pressure on profit margins, it is necessary for organizations to cut costs and optimise their processes to increase efficiency. While organisations cannot directly impact macro-economic or18external factors, they must bring control where they can. This includes:
• 12Streamlining existing processes • 6Outsourcing functions/processes and free bandwidth • Bandwidth management- Improving productivity and •
re-allocating resources where necessary Taking help of consultants/experts to learn best practices
• Taking help of consultants/experts to learn best practices • Reducing cycle time • Ensuring the best deal to ensure savings buyjunction has been helping many organisations save considerable cost, improve cash flow, gain efficiency in operations and inventory and achieve flexibility by shortening cycle times. With its services like Category Management, Assisted Sourcing, Reverse Auctions, Managed Sourcing, buyjunction has handled over INR 21,710 Crores of procurements in FY13, a total in excess of INR 58,000 Crores since inception.
Categories We Sourced DESCRIPTION
CATEGORY Projects engineering /Capex Item
Engineering & Designing, Civil, Mechanical, Electrical, Infrastructure Projects, Material Handling Equipment, Capital Goods, etc.
Steel & Scraps
Flat, Long, Semi Finished, Alloy, All Ferrous & Non Ferrous Scraps etc.
MRO- Process Consumable
All Mechanical Consumables, Spares, Assembly, Pipes, Fabrication, Castings, Forging, Electrodes, Valves etc .
Ferro Alloys & Non Ferrous Metal
Ferro Alloys & Non Ferrous Metal
All kinds of Packaging related items, Bags, Cartons, Seals, Straps, Wooden Box etc.
Mineral's & Chemical
Organic & inorganic chemicals, Gases, Refractory raw materials & All type of Minerals etc.
Surface, Sea, Air, Freight Forwarding etc.
All types of refractories.
Cables, Motors, Electrical Consumables, Electrical Testing Equipment's, Switches, panels etc.
Annual Maintenance Contracts etc.
Coal & Coke
Coking & Non Coking Coal, CPC etc.
IT, Travel & Office
Computer, Servers, Office Equipment's, Stationary, Travels etc.
TOP 10 CATEGORIES Top 10 Categories Procured (April'13 - June'13)
Coal & Coke
Project & Engineering
Chemicals / Minerals / Fuels
TV (Rs.Lacs) 30,000 25,000 20,000 15,000 10,000
Projects and Engineering
Coal and Coke
CMS Services Snapshot PR to PO Activity
No. of PR Processed
PR Value (Rs. Lakhs)
Average Negotiated Savings
Case Studies Procurement of CNC roll turning lathes by BSP
Procuring ferro vanadium for JSPL
Bhilai Steel Plant of SAIL mandated buyjunction to procure CNC roll turning lathes for universal rail mill under their modernisation and expansion scheme.
JSPL Raigarh mandated buyjunction to procure 60 tons of ferro vanadium, a type of ferro alloy used as a raw material for crude steel production.
The client expected buyjunction to get the highest possible savings for them.
The client expected buyjunction to ensure timely delivery of required quality of material:
Only three bidders were eligible to participate in the event and it was a challenge to instil the sense of competition in them; The start bid price, which was provided by the client, was way lower than the L-1 online sealed bid price which was arrived at by the vendors. Our approach
JSPL's payment terms, price validity and arbitration clauses were such that it was a challenge to explain them to the suppliers and convince them to participate in the auction. Negotiate with the vendors so that despite huge supplies required by SAIL, they are still able to supply the best quality material of the required quantity. Our approach The service delivery team along with the CRM followed up regularly with the suppliers, going to great lengths to explain all terms and conditions so that there is no scope of any confusion; The team also followed up and kept in touch regularly with the vendors so that there is no quantity hiccup.
We gave the bidders in-depth training regarding modalities of the evaluation and bidding in online events; Since it was a high-value order, it was a challenge to make the bidders comfortable with bidding online.
The client achieved a savings of 8.2% on the estimated value of the product.
Five bidders participated in the reverse auction, which resulted in a savings of 9.14% on the estimated value of the material.
New Clients Signed up Name of the Client:
Tata Housing Development Company Limited (Tata Housing)â€“ Real Estate Development Company
Why buyjunction was the choice: 1) For procurement below Rs.1Crore there was no visibility of the spend and it was procured at the site where 2) central procurement team had no control.There was no mechanism to track the savings accrued at the site. 3) Lack of sourcing & procurement professional at the site. 4) buyjunction rich experience in offering sourcing and procurement services to various corporates. Testimonial from Tata Steel on buyjunction services
Why Tata Housing opted to Outsource ? 1) 2) 3) 4) 5)
To get visibility of the spend below Rs.1Crore. Benchmarking buys, Standardization of processes across various site location Need of Buys to beconducted by procurement experts Tracking of savings against budgets.
Specific services to be offered : Category Management services for the procurement of Civil,Mechanical & Electrical Services & Material at various site locations in India Target Vendor base : 1000 +
Name of the Client
TRL Krosaki Refractories Limited(formerly known as Tata Refractories) Industry – Refractory Ranking of the client industry : Krosaki Harima Corporation (KHC) of Japan, who had acquired 51% stake in TATA Refractories after which it was re-named, and TRL Krosaki Refractories as on date have jointly emerged as the 4th largest refractories manufacturers in the world. TRL Krosaki is one of the leading companies from Eastern part of India. Why buyjunction was the choice: TRL Krosaki for managing the end-to-end sourcing and procurement of their indirect spend. On analysing their current spend base, we’d identified opportunities of savings and proposed to put stake in the game in form a gain-share based performance fee. This ensured accountability of mjunction into the collaboration and made way for a win-win deal between both the organizations. Why TRL Krosaki opted to outsource ?
We’ve offered them buyjunction’s flagship category management service in their MRO spares, services and coal categories where we’ll be managing the sourcing activities with an aim to reduce cost, improve efficiency and ascertain specialized focus to the indirect categories. In conducting the negotiations for various items, buyjunction can decide to opt between online and offline mode, as suited in a particular case. However, we’ll be using our E-Procurement and E-Sourcing platforms to improve cycle time, transparency, ready audit trail and quick access to documents and to ensure efficient price discovery.
Specific services to be offered : Category Management Service - Long Term Contracting in case of planned and repeat purchases. - Managing the Spot Buys based on the PRs generated.
Target Vendor base : 1000 + Benefits that clients get using these servicesWe bring in strategic focus to the non-core cat-egories, register savings through informed sourcing and strive to increase efficiency adopting a people-process-technology approach.
TRL has opted for a much bigger change than just an electronic method, which has limited value and appeal.
Client Testimonials We have received very positive feedback from our vendors and they feel EPS is the best compared to the other models. Another vendor in Mumbai informed how he is now able to work from home and not miss out on tenders. Mr S Shankar Materials Management, SAIL Rourkela Steel Plant “ It hasbeen our pleasure to note that the delivered Transaction Value ofgoods and services e-sourced by JSPL through mjunction serviceslimited (MJ) has seen significant increase year–on-year. MJ hasbeen assisting JSPL with their e-sourcing services including preparation of RFQs, suggesting new bidders and conducting online Reverse Auctions on regular basis. We look forward to receive anincreased support and value addition to our e-sourcing activities, infuture endeavours. Ourassociation with MJ has started more than five years ago and has beengrowing in strength ever since, especially during last couple ofyears. We have been deriving immense value from the services renderedby MJ in terms of fulfillment of our evolving expectations likereduction of prices from respective benchmarks through innovativeauction strategies devised and deployed by MJ. The services of MJhave also been extended beyond Raigarh and at all our other Units for which MJ is regularly conducting e-sourcing activities / reverse auctions. Theproactive support and involvement of your Client RelationshipManagement team in engaging across all levels and all our Units, arealso worth appreciating. We hope that this vigor of MJ would bemaintained and increased, during coming days as well, to cement ourever growing, successful and ‘win –win’relationship.” Mr Manoj Kr Bhatt Purchase – JSPL Raigarh
Mr Anirban Sarkar presented on "Service Providers Role In MRO/NPR Procurement" at IIMM Meet (Disha 2013) Mumbai Chapter
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Benefitsof advertising in BJ Connect Opportunity to reach out to purchase managersand procurement professionals across the industry Opportunity to show case your products and services amongst the key decision makers Widely circulated quarterly report Available in print & digital format Available on buyjunction website and several social media forums
Who should advertise? Vendors and suppliers of all products / services who would like to gain visibility from the purchase departments of their potential customers
Upcoming Events We are glad to announce that buyjunction will be partnering with the World’s leading conference & exhibition organisers providing a platform to share knowledge and learn the best practices in the Procurement. There will be procurement awards, panel discussions and much more…
Intermodal India (International exhibition for the logistics, cargo & transport) Organiser: UBM Venue: Bombay Convention & Exhibition Centre, Mumbai Dates: 20 – 22 November 2013
We will help you Present / Showcase / Connect with a focused group of Decision makers through opportunities like Speaking, Exhibiting, Panel Discussion and a wide range of marketing/branding opportunities as well.
World of Industry& International Purchasing Managers Summit Organiser : Hannover Milano Fairs Pvt Ltd Venue: PragatiMaidan, New Delhi Dates: 17 – 20 December 2013
Biz Bridge (International Engineering & Manufacturing Exhibition & Conference) Organiser : CII (Confederation of Indian Industry) Venue: Milan Mela Grounds,Kolkata Dates: 13-16 November 2013
For more information on the above events send an email to firstname.lastname@example.org
mjunction is the largest ecommerce company in India. It is a 50:50 venture promoted by the Steel Authority of India Limited (SAIL) and TATA Steel.
Corporate office mjunction Services Limited Godrej Waterside Tower – I, 3rd Floor, Plot No. 5, Block – DP Sector – V, Salt Lake City, Kolkata – 700091, WB, India Tel: +91 33 6610 6100 Fax: +91 33 6610 6187/ 6179 / +91 33 6601 1719 / 1720
Registered office TATA Centre, 43 Jawaharlal Nehru Road, Kolkata 700 071 Tel: +91 33 6610 6100, 2288 2606 Fax: +91 33 2288 2078 20
Published on Aug 27, 2013
Connect is the quarterly newsletter of the Sourcing and Procurement Practice at buyjunction. August edition features a report on Ferro Allo...