Praj Industries, a global process solutions company, has been recognized for its supply chain management (SCM) practices by Indian Institute of Materials Management (IIMM). Praj has been awarded the “Best Supply Chain Management Practices” in the large manufacturing sector category at the 4th Annual Awards held at Sheraton Grand Pune.
IIMM is a national apex body representing a wide spectrum of professionals engaged in various facets of Material Management such as planning, sourcing, logistics & supply chain management. It has a network of 51 branches and 19 chapters and IIMM Pune is the oldest branch established way back in 1966. IIMM Pune started First Logistics and Supply Chain Management Awards in 2014 and these awards have gained widespread acceptability in India Inc.
The 4th Annual Award recognizes an organization that has demonstrated superior commitment, innovative strategic leadership, and significant supply chain management/logistics contributions within the industry. It had esteemed jury comprising industry stalwarts and they unanimously selected Praj for implementing effective supply chain management using powerful SCM solutions.
Speaking on this development, Mr. Pramod Chaudhari, Executive Chairman of Praj Industries said, “Innovation is the backbone of Praj’s operation, be it 2nd Generation Ethanol technology or processes including supply chain management. It is in the DNA of Praj to challenge ourselves and come up with newer ways of conducting business and achieving better efficiencies in a competitive environment. Praj is happy to be recognized by the National Apex Body of Material Management for our practices in supply chain management. In the scheme of manufacturing, and especially in the case of Praj, supply chain management plays a pivotal role. In fact, it would only be fair to say that it plays a ‘strategic business’ role and that’s why SCM is being discussed in board meetings too”.
Praj has been focussing on real time monitoring of savings by implementing various techniques such as partnering with the suppliers, pivoting alternate suppliers and smart logistics initiatives. The company also applies various innovative strategies for international sourcing such as Best Cost Countries for various commodities, leveraging embassies and trade bodies, sourcing through trade bodies and establishing Tri-party agreement ‘We win together (Three handshakes)’ for leveraging geographic advantage. Under the green partner program, Praj has retained BSI to do audit training and certification of partners for green SCM initiative.