India’s largest iron-ore miner goes digital with SAP
India’s state-owned National Mineral Development Corporation (NMDC), the country’s largest iron-ore producer, has implemented a new Enterprise Resource Planning (ERP) solution from software company SAP.
This means that NMDC’s end-to-end business processes will be consolidated under the ERP, leading to an improvement in operational efficiency.
As such, various business areas and departments in the NMDC, including Production, Procurement, Finance, and Human Resources Management will be scaled with increased administrative ease. This will lead to an overall improvement in customer satisfaction, according to company executives.
“NMDC has always been at the forefront in enhancing economic & social values and simultaneously focusing on optimum utilisation of resources by adopting latest technological initiatives. The ERP will place NMDC in a different league in the mining sector,” said Sumit Deb, Chief Managing Director of NMDC.
Amitava Mukherjee, Director of Finance at NMDC, pointed out that the organisation’s decision to integrate illustrates NMDC’s commitment to upholding company transparency and preparing for future digital initiatives.
The Indian mining industry has been a laggard when it comes to using tech and with Prime Minister Narendra Modi’s push for Digital India, effort are on to embrace digital holistically.
The country’s mining sector is expected to see a flurry of action this new year with the central government’s approvals for pending mining reforms, expected in January itself and efforts continuing to bolster overall mineral output.
The reforms will pave the way for auctioning of at least 500 mineral blocks, Mines Secretary Anil Kumar Jain told PTI and emphasised that calendar year 2021 will be a “bridge year between the past and the future”.Among mining companies, NMDC is expected to stand out with 91 per cent year-on-year growth in EBITDA or Earnings Before Interest Tax Depreciation and Amortisation, according to Edelweiss Research.