SAIL ISP goes live with mjvaluemart from mjunction to reduce inventory
July 27:
SAILISP has gone live with mjvaluemart, the online marketplace from mjunction, which will help to reduce its inventory of unused MRO spares. An MoU in this regard was signed between SAIL ISP and mjunction earlier this month.
SAIL ISP became the first SAIL plant to undertake this initiative to use mjvaluemart to liquidate its Surplus, Obsolete & Redundant (SOR) items. This initiative would be increasing its inventory catalogue visibility among its associate units as well as MSMEs who need those.
The MoU was signed by Executive Director (Materials Management) ISP, Rajeev Kumar, and mjunction MD Vinaya Varma, in the presence of other senior officials of both organisations.
SAIL ISP Director in Charge Brijendra Pratap Singh, who was also present, said: “We believe that this new concept will help us maintain a very lean inventory level and improve our bottom line as well.”
mjunction MD Vinaya Varma said: “Apart from freeing up the cash blocked in surplus MRO spares, mjvaluemart will help MSMEs get access to genuine spares which are no longer needed by the seller at very competitive prices.”
About mjunction: Founded in 2001 and headquartered in Kolkata, mjunction services limited is an equal joint venture by SAIL and Tata Steel is a customer-focused, technology-driven, and innovative e-commerce company. mjunction connects businesses with businesses to buy and sell better using digital platforms. With over two decades of operations, mjunction is among India’s most trusted B2B organizations, with a cumulative GMV of above INR 12 lakh crores. mjunction’s mission is to make the world a better place every day, creating robust and sustainable supply chains through greater efficiency and transparency, disintermediating value-destroying middlemen, and delivering desired outcomes to stakeholders, always. Internationally, it has a business footprint in Australia, Singapore, the UK, and the United Arab Emirates. mjunction also has its own offices in UAE and UK.
