July 21, 2011
mjunction services implements eProcurement solution for Ordnance Factory Board
- Largest-ever eProcurement project of Rs13 crore goes live; to shorten procurement cycle time, reduce inventory costs and streamline procurement operations at OFB
When fully commissioned, the eProcurement solution at OFB shall cater to over 20,000 vendors and service around one lakh tenders every year. The eProcurement solution implemented by mjunction in consortium with NIIT Technologies (NTL) will help OFB in standardising its purchases, shorten its procurement cycle time, reduce its inventory costs and other recurring costs such as stationery, etc; increase vendor participation and transparency, and streamline eProcurement operations, apart from other associated automation benefits, which the solution encompasses.
The eProcurement solution at OFB is unique with state-of-the-art technology involving hardware, data centre, disaster recovery and connectivity. The scope of work covers the entire gamut of the tendering cycle. It will also accommodate organisation-specific processes, complexities, transactional load requirements and application interface with legacy system of OFB. The eTendering services for this project are being provided by buyjunction — the eProcurement arm of mjunction.
Viresh Oberoi, managing director, mjunction services, said, “We are extremely happy to announce that we have crossed one more milestone and broken yet another barrier. In view of the current focus on optimisation of input and sourcing costs, inventory levels, and maintaining efficient supply chain processes; our eProcurement services are a smart solution. At the same time, we are excited to be a part of the eGovernance drive in India.”
As on date, July 21, 2011, all 41 factories including OFB headquarters have gone live, 400 tenders have been published and 3,000 vendors have enrolled themselves. Today the project was reviewed by DM Gupta, chairman, OFB, along with Mr Oberoi and senior vice president of NTL. Mr Gupta complimented the project team of mjunction, NTL and OFB for the good work.
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