THE NEWSMAN OF INDIA.COM
Hyderabad, November 24: Gujarat Narmada Valley Fertilisers & Chemicals Ltd (GNFC) won the prestigious Supply Chain and Logistics Excellence (SCALE) 2017 Award, further consolidating its place as one of the best fertilizers & chemicals companies in the country. The award recognizes the company’s development and implementation of transparent, sustainable and pragmatic changes in the supply chain to optimise the process.

GNFC reported Profit Before Tax of INR 715 crore for the 2016-17, which is higher by 167 % than the previous year. During the year, GNFC posted highest ever quarterly andyearly PBT, highest ever Exports and the highest ever dividend of INR 5 per share @ 50%. The highly successful financial year could be attributed to ingenious business process reengineering, supply chain innovations and synergy with government initiatives.

Some of the supply chain and logistics’ achievements were reduction of average unit logistics cost by 13%, which is the best so far, reduction in inventory days by 2.4% for major raw materials, increase in inventory accuracy of 99.99% for stores items, and significant decrease in transit damage for stores items. In addition, GNFC also introduced efficient logistics arrangements for two major imported raw materials;Rock Phosphate and SDS (Special Denatured Spirit). Online vendor registration portal was also developed.

GNFC won the SCALE Award 2017 in the category of Fertilizers & Chemicals. The SCALE Award 2017 were instituted by Confederation of Indian Industry (CII) to appreciate companies focused on growth through innovation and optimisation. CII followed a stringent six level procedure of shortlisting and selection. The selection is done by independent assessors comprising experts in the field of Supply Chain Management. The set parameters included the quantified impact, cost-benefit balance, rigorous monitoring and evaluation procedures, and sustainability. There were 158 companies who participated in the award application. Among the peer industries, GNFC was selected as the winner for its outstanding practices.

The gala award ceremony was held on 24th November, 2017 at Novotel, Hyderabad. Function was presided over by Mohammad Mahamood Ali, Dy. Chief Minister of Telangana. Binoy Kumar IAS Special Secretary (Logistic), Ministry of Commerce, GOI, gave SCALE awards. In the grand award ceremony, Dr. Rajiv Kumar Gupta IAS, Managing Director, GNFC received the award on behalf of company. Others who graced the event include Jayesh Ranjan IAS, Chief Secretary, Govt of Telangana, eminent jury members , CII executives and other dignitaries.