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Bangalore, India - 29 Apr 2014: IBM (NYSE: IBM) today announced that BALCO a subsidiary of Vedanta Group, a global mining and metal conglomerate, has gone live on a technology solution aimed at getting a consolidated corporate-wide view of procurement spend across its operations. IBM deployed a customized solution based on SAP SRM (Supplier Relationship Management) application for automating BALCO’s Procure-to-pay (P2P) process to enable sourcing effectiveness. The solution was implemented across five entities of Vedanta with a common design philosophy.
BALCO was looking at optimizing its operations by analyzing spend patterns, contract compliance and also evaluating opportunities to keep the costs down. It was looking for a solution to eliminate the inefficiencies arising out of manual processes. With this deployment, Vedanta group companies can examine and forecast purchasing behavior, shorten procurement cycles, and work with partners in real time.
IBM’s solution will help BALCO improve supplier relationships. A more comprehensive view of buying methods, as well as greater collaboration and integration across suppliers will enable better buying decisions and compliance. In addition, the solution reduces cost per relationship by engaging suppliers more effectively.
“IBM provided us with an easy-to-use user interface for the entire sourcing and procurement life cycle. This will help us strengthen our supplier relationships, manage compliances and conform with transparent procurement policies. We can now analyze and evaluate suppliers better with comprehensive supplier data and management visibility,” said B K Srivastava, BALCO.
“This world class solution has unique functionalities co-developed by IBM and BALCO on the SAP SRM platform enhanced with IBM’s world class Business Analytics expertise, business performance measurement techniques and Project Management methods. This has helped in faster adoption and value derivation across Vedanta group companies. The successful transformation of Vedanta’s supplier relationship management was an outcome of the collaborative efforts, in-depth domain knowledge and expertise of the teams from Vedanta and IBM,” said Sivaramakrishnan Narayanan, Director, BAO, Manufacturing and Operations Management, IBM.
This marquee SRM implementation is the first of the kind in India South Asia (ISA) markets in coverage and depth. IBM not only acted as the implementation partner but also helped Vedanta entities to measure the benefits and KPIs arising out of the implementation.
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