JANUARY - MARCH 2016 | VOLUME VIII | ISSUE I
where one has gone wrong, it is equally important to figure out and analyse how, why and where one has gone right. As I have mentioned before, in mjunction’s early days, it was easy to tell people what we were doing. “We sell steel online,” we said. However, as we grew in size and scope, it became more and more difficult. As we introspected, we knew that we are in the business of solving problems whenever commerce takes place, with the innovative use of technology. And I believe we are in the right track regarding our objective. I believe we have been able to listen carefully to our customers and design solutions as per their needs. And that is why mjunction has been able to brave the odds which have arisen from otherwise adverse market conditions.
From the MD Dear junctionites, As we step into a new financial year, the mood at mjunction is upbeat. It is upbeat not because it is on a firm growth path. mjunction, in its life span of 15 years, has seen too many successes. Of course I am happy with the way we have performed, but I am happier because of the circumstances under which we have been able to do so. mjunction has had past records of standing up to adversities, and it has replicated that once again in FY16. Steel and commodities markets witnessed a pronounced and prolonged bear phase during the year, marked by plummeting demand as well as prices. Given the fact that mjunction’s established and more mature businesses operate in this space, there was enough reason to get worried. However, mjunction rose above these constraints, and grew significantly both in its topline as well as bottomline. While it is always important to see how, why and
This does not necessarily mean that we have always succeeded with our experiments. We have also failed but never shied away from experimenting as I believe that is the essence of mjunction’s culture; in our hearts we are still a start-up. We have failed but we have learnt from our failures. We have made changes to the model till it succeeded and then scaled up quickly once it did. Every time we changed, we kept the customer’s voice in mind. At the heart of the customer-centricity policy that we have followed and which we will continue to follow, has been to strengthen our regional offices in north, west and south, decentralise our operations which was eastern region centred, and to make sure that we can become a true pan-India operator. In the year gone by, we have also collaborated a lot with the right partners – technology companies and banks, for example. These partnerships have helped to make our systems and processes leaner and more efficient.
of our MoU with Nasscom 10,000 Startups. Sibia is a Kolkata-based start-up in the predictive retail analytics space, and apart from infrastructure, we will also provide mentoring and guidance as an organisation which was a fledgling start-up not too long ago. I believe it is going to be a fulfilling experience for all of us at mjunction. Ever since the inception of mjunction, technology has remained at the heart of all its operations and its focus on digitisation remains unhampered till date. Problem solving in mjunction is always done leveraging the latest technologies. Therefore we are constantly learning about such technologies, whether Cloud, Big Data and Analytics, Mobility, social, IOT, and how we can combine them to come up with innovative solutions which can help our customers improve their operations. For instance, we are developing an Enterprise Procurement System, which is going to be available on the Cloud. I also believe the future lies with Analytics, where we can use the available data to improve processes. We are already using it extensively for straightline’s loyalty programmes and will soon extend it to other services as well. I also want to reiterate the fact that I firmly believe in the Tata Group’s ethos of the community being our most important stakeholder. We defined our communities at the very outset and as we grew, we kept redefining them but made sure that we benefit not only the large players of the community but also the smallest stakeholder in it. And that will remain mjunction’s mantra and its commitment to the communities it serves. Regards,
In the last quarter, a very significant phase also began in mjunction’s history as we inducted the first technology start-up, Sibia, into our fold as part
WHAT’S INSIDE mjunction selects CAE for e-procurement...2 | MD at CII Annual Regional Meeting...3 | Newspaper articles by MD...4 | MD launches report on e-Commerce...5 | mj participates in Tata Steel Founders’ Day...6 | Boosting productivity at mjunction...7 | mjunction holds sports meet...8 | Client Speak...9 | Long Service Awards...10 | Know Your Junctionite...11 | Knowledge sharing sessions at mj...12 | New joinees...13 | Gallery...15 | Quiz Corner...15 | Quiz titles for mj teams...16