mjPost, December 2016

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VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Dear junctionites, As we stand at the threshold of a new year, the country is battling the fallout of a battle the government has waged against corruption. Large causes call for large sacrifices and the average citizen is rising to the occasion. The mission has uncanny similarity with the mission which mjunction undertook more than 15 years ago – to wipe out opaqueness in the buying and selling of crucial national resources, so that both seller and buyer get a fair deal and nothing is lost in transaction. We have been unwavering in our mission since then, contributing steadfastly to a Digital India.

Fifteen years ago, mjunction was an idea whose time had come. And as they say, if at first, the idea is not absurd, then there is no hope for it. Firmly believing in that, I have introduced the Idea Inbox, which is a forum where fresh ideas will be shared, discussed and rewarded on a regular basis. The forum will be owned by all of us, and I believe a brilliant idea is just lurking round the corner, waiting to be picked up.

I wish all of you and your families a very happy and corruption-free New Year. Into that heaven of freedom my Father, let my country awake.

Regards,

Vinaya Varma, Chief Executive Officer

mjunction’s Guiding Force

WHAT’S INSIDE mj in the news...2 | mjunction conducts mega spectrum sale...3 | Leadership bytes: Rajarshi Chattopadhyay...4 Client speak...5 | Performance at a glance...6 | Jamshedpur Run-a-thon...7 | Our success stories...8 Employee engagement activities...9 | Family day @ mjunction...10 | Idea Inbox...11 | Photo story...12

VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

FROM THE EDITOR’S DESK

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Ideas are ideas, we need to stop ourselves from branding them as “good” or “bad” in our heads and killing them prematurely. We need to let the ideas keep flowing and each idea needs to fight for its right and win or perish.

A Brief History of Ideas

hen was the last time you stood in a serpentine queue and waited with bated breath for your turn? Well, may be yesterday, and the day before, and the previous week and the week before…

The buck stops at the ATM.

Our CEO Mr Vinaya Varma thought it was the right time to start a culture of idea exchange among junctionites and thus Idea Inbox was conceived.

This is a platform by, of and for junctionites. We think, we discuss, we engage, we vote, we share, we win and we make a difference.

A humble citizen of this 1.4 billion-strong great nation suggested: “Ban all notes of 500 and 1000 denominations” to fight black money and counterfeit. And a voice from the sky said “let it be.” An idea can surely change your life!

Finding opportunity in such a challenging situation, an entrepreneur started a company which provides people for hire who will stand in the queue for ATM or bank for you against an hourly charge. Sounds crazy, right? But Book My Chotu was an instant hit. This is the power of ideas, especially the crazy ones. It can change the world.

Editor Madhuchanda Dasgupta

This platform is to empower each and every junctionite to speak up and bring a change.

Remember, ideas are bulletproof.

Editorial Advisor Head - Corporate Communications & Branding

Design Debal Ray, Sobhan Jas

Copyright: All rights reserved. No part of this publication can be reproduced or copied in any form or by any means without the prior permission of mjunction services limited. Please inform us if any copyright has been inadvertently infringed.

Disclaimer: This document is for information purpose only. Certain information herein has been acquired from various external sources believed to be reliable. While we have taken reasonable care to compile this report, we in no way assume any responsibility for any error or discrepancy in regards to information contained herein. Readers are requested to make appropriate judgement without any prejudice or compulsion.

For suggestions, feedback and queries, please write to mjpost@mjunction.in

Visit us at www.mjunction.in

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VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

“This was a very large auction – in volume, variety of spectrum that was put up, the number of bands on offer and simultaneous e-auction process – both in complexity as well as in sophistication. The auction system worked flawlessly and thus through a transparent process, a natural resource was sold at a market determined price of spectrum. The government talks of ease of doing business and transparency in work. This is a vindication of that kind of vision. That is the first takeaway from this auction.”

mjunction conducts mega spectrum sale

J.S. Deepak, Telecom Secretary, in an interview with ET Now

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rom October 1 to October 6, mjunction successfully executed the telecom spectrum auctions for the second time, on behalf of the government of India’s Department of Telecommunications (DoT). It was one of the world’s most complex spectrum auctions ever, based on the Simultaneous Multiple Round Ascending model. mjunction has been awarded a three-year contract by the DoT for the e-auction of telecom spectrum in various bands. The first event was held last year, when it facilitated sale of 418.05 MHz of spectrum. This year, the amount more than doubled to 964.80 MHz, and brought about an overall 3.35% appreciation in auction value over the reserve price for the spectrum sold. mjunction used Simultaneous Multiple Round Auction (SMRA) methodology – an internationally well accepted methodology, to conduct the e-auction. Under this system, all the offerings were opened simultaneously, and were subsequently closed together, to enable the operators to switch across the offerings in real time. Also, in such an auction open over multiple rounds it generates an increase in price with optimum revenue realization in a fair manner. The Auction Activity Requirement ensures sustained bidding activity, limiting any ambush bidding tendency. This rolls out a level playing field based on initial Earnest Money Deposits.

A three-stage authentication process was installed along with a tamper-proof Database Activity Monitoring. Mock auctions were conducted prior to the final auctions to familiarize the bidders with

the process and ease them into the real-time virtual platform. In another significant improvisation over the last edition, in cases where contiguous spectrum was available, frequency identification accorded preference to winners who have won 5MHz or more but not at the cost of lower ranked eligible winners. The system attempted to rationalize frequency assignment by allocating continuous spectrum to the extent possible and also by trying to assign best fit spectrum chunks so as not to cause unnecessary fragmentation of spectrum.

The SMRA strategy has two parts, where the first discovers winners and winning prices and the second establishes allocation. The bidding for each takes place in iterations or rounds. For each lot, a single price is generated by the system across all bidders and also during the price discovery stage - ranks/intimations are displayed to the bidders intimating them of their win. There are certain quantity capping rules.

The team The team working on the spectrum auction was a cross-functional team, and one which rose to the occasion to fulfill requirements and demands of the DoT on one hand and the telecom operators, on the other.

“It was an honour to be associated with this prestigious event of international importance. I was present at all meetings of DoT to decide on the specifics of the tender documents and also to determine the possibility of proposed changes to the auction functionality. Also attended meetings with Telecom Secretary Mr J.S. Deepak and the Telecom Minister Mr Manoj Sinha.”

Manish Mathur, Chief, Government Projects

“We paid close attention to improving the overall experience of the operators, with easy bidding screen, dashboards and call centre assistance. A custom ‘watchlist’ was designed to help operators keep a close tab on LSAs of strategic importance to them.”

Vinaya Varma, CEO

“The team was determined to make this a success and they did it. They were proactive and enterprising, took calculated risks and got things done.”

Amit Kumar Khan, Chief Information Officer

“The best part about working on this cross-functional project was that all team members stepped out of their defined roles and comfort zones and supported each other, irrespective of the job at hand.”

Ritwik Poddar, Business Team Lead & Business Analyst

The Simultaneous Multiple Round Auction (SMRA) logic is sophisticated and quite different from any that we have in mjunction. It was my responsibility to design and implement the logic, and given the national importance and challenging nature of this auction, there was zero margin for error. The entire team worked tirelessly to make it a success. It gives me great pleasure, to know that all the system logs are out in the public domain for all agencies to peruse. This sort of transparency is what mjunction has always stood for.”

Chinmoy Barman, Head Projects, Technology

“The project, for many of us, became synonymous with unearthly working hours and being pushed to our collective extremes. The strength of this team has been a blurring of rigid roles. Each member has stepped out of his personal space and stood to support another, in such a way that the final outcome has been far more fulfilling than our individual contributions! ” Gaurav Biswas, Technology Business Analyst

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VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

L eadership bytes What is your vision for mjunction?

I see mjunction as a Rs 1,000-crore company by 2022. By the time mjunction is 25, it should be a benchmark for innovation, growth and diversification in the B2B e-commerce space; platforms with vibrant participant communities, which keeps growing organically. I am certain mjunction will keep having an engaged and happy workforce, satisfied clients, partners and all this in a conducive and enabling eco-system.

You wear a lot of hats at mjunction. How do you juggle all your roles?

My role in mjunction is to create an enabling environment for people to perform, grow and innovate. We have good teams. All we need to do is to provide them with the right environment, the right tools, the right direction and encouragement to try out new things.

We try to create an enabling environment by enhancing capabilities, building trust and empowering people.

As far as the multiple hats are concerned, it is really not as complicated as it sounds if we can concentrate on the fundamentals.The three parameters of revenue, profit and customer satisfaction form a thread that runs through the organization, and it is on these three

that

the

Rajarshi Chattopadhyay AVP F&A, BE & Customer Service, Strategy, Legal & Compliance

effectiveness of each function is measured. At the final count, that is how the organization too is assessed. This helps in building the larger picture as well as focusing on the granular details whenever required.

What future do you see for B2B e-commerce in India?

While it is B2C that has taken all the limelight as far as e-commerce is concerned, the fact remains that a larger opportunity exists in the B2B segment. However, things are changing and they are changing fast, making way to an environment conducive to faster development of B2B e-commerce in the country. With its focus on e-governance and digital economy, the government is also creating the right conditions for fostering growth of this sector.

The implementation of GST enabling easier

movement of goods across the country will further boost this growth.

The enablers are all there -- Cheap and fast Internet penetration, democratization of data and increased adoption of Social, Mobile, Analytics and Cloud (SMAC) technologies.

Cheap Open Source technology, the advent of iOT and artificial intelligence, the platform revolution and growth of startups and fintechs are fast changing the way Indian businesses are thinking and operating.

Given that B2B e-commerce global giants are focusing on Indian markets, there is a significant window of opportunity available for domestic companies to ride the growth.

What role does Business Excellence play in determining the performance of a company?

At mjunction, Business Excellence plays the role of a catalyst in augmenting performance excellence. While on one hand, it designs and executes enterprise strategic objectives, on the other, it captures customer needs and market signals to continually improve business processes. As I have mentioned earlier, I align Business Excellence also to the three defined parameters.

When you are not setting the mjunction accounts in order, what do you do?

I love books and read whatever I can lay my hands on. Fortunately, all my bosses, including Vinaya, are voracious readers and keep recommending good reads. I love to swim and travel. I have a dream of visiting all the great cities of the world.

Moshahar Bayen

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t mjunction, we believe that our strength lies in our people. Behind every process and every successful project, there are several minds working relentlessly for it. And for an event as prestigious and complex as the telecom spectrum auction, our best Technology minds put their heads together. Moshahar Bayen is one of mjunction’s oldest employees, having spent over 12 years here, rising from a wide-eyed Systems Trainee on his first job to a Chief Manager, Technology.

For this project, he led from the front a cross-functional team of about six people. The auction this year began on October 1, just when the entire state of West Bengal and also mjunction were gearing up for the annual extravaganza of the Durga Puja. When the event ended on October 6, after five days of gruelling schedules for the team, the state had already plunged into festivities. For Moshahar, however, it was a different story.

Hailing from Kotalpur of Bankura district, Moshahar would have gone home for the Pujas had the auctions not made him stay back.

His mother and siblings, who missed having him home, were however understanding and cooperative, also believing in the principle of “duty comes first”.

Moshahar’s professional seniors and peers alike, were all praise for him. As his immediate reporting head Dr Chinmoy Barman, Head Projects, Technology said, “Moshahar, over the years, has

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proved himself to be a dedicated and sincere employee. No wonder that he is entrusted with crucial responsibilities, and I must say he has never let me down.”

Mr Manish Mathur, Chief Government Projects, who spearheaded the spectrum auction project, said: “Moshahar’s role was crucial in this project. Whether it was the user interface or the actual event, he was hands on for everything. I always spoke to him first to discuss the likely impact on the auction server design whenever a new decision was taken by the client.”

Mr Amit Kumar Khan, Chief Information Officer of mjunction, said: “Moshahar was like a pillar during the project, and one on whom the Technology team could rely on. Given his past record, he was a natural choice for this complicated project.”

Mr Gaurav Biswas of Technology, said: “To work on a methodology as complex as is this, one needs a leader with a level head. From cutting through the data clutter to firefighting during moments of crisis, Moshahar has led from the front.”

“I was constantly juggling between my other professional commitments and this project. I will always be grateful to all my seniors and team members with whom I have worked here. Without them, I would never have been able to give my best,” Moshahar said.

VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Client Speak

The customer is at the heart of all activities at mjunction and their feedback is of utmost value to us. We bring to you a few voices of the customer.

In 2013, mjunction tied up with West Bengal Mineral Development Corporation Ltd (WBMDTCL), the state-nominated agency of the West Bengal government, to launch e-distribution of coal for the first time in India. This year, it tied up with the Maharashtra State Mining Corporation (MSMC) to provide similar services. The micro, small and medium enterprises (MSMEs) have been immensely benefited by this initiative. The Economic Times, India’s largest financial daily, carried a full-page report on the initiative in September.

Executive Director (Technical) of WBMDTCL, R K Saha, said, “We were facing several challenges in the distribution process due to limited manpower. mjunction helped us to identify the pain points and requirements not only of the MSMEs but also of other stakeholders. In order to address that, mjunction designed and implemented a customised end-to-end e-distribution module. It has been a seamless process for the last three years, and so far more than 4.5 lakh tons of coal have been distributed through this process. Our customers find it a user-friendly and transparent process, which has considerably reduced turnaround time and increased efficiency of the distribution process.”

Managing Director of MSMC, Dr Nirupama Dange, IAS, said, “We have engaged mjunction to set up a fully automated and computerized end-to-end system for e-distribution of coal to MSMEs in Maharashtra. The e-distribution platform would help MSMC to ensure complete transparency in the coal distribution process, provide increased convenience for the customers in buying coal, and increase efficiency in the process by reducing the overall transaction processing time. All the customers would be able to buy coal of their choice through a simple and easy process - efficiently, conveniently and transparently.”

mjunction has been providing rebar estimation and detailing since 2011 to Best Bar Reinforcements, Australia. Since then, mjunction has done more than 2 lakh tons of rebar estimation on its behalf. This is what Mr Gavin Futcher, Group Commercial Manager, says: I am impressed with the progress made by mjunction, and we want to continue with the flawless integration. mjunction staff have become a part of our team and we want to continue to improve on productivity, quality and further training/multiskilling. Good progress has been made, but we need to continue that and keep up with the pace. Ultimately everyone at mjunction holds the key to our success.”

Junctionites Monalisa Biswal from the Operations team and Sunil Kumar Chowdhury, the Client Relationship Manager at Rourkela Steel Plant, received high praise from Mr N.C Das, DGM(MM) MRM & IGH of RSP, for their contribution towards centralised procurement for Medicines & Hospital Consumables for 2016-17. It was an enormous task consisting of 239 markets with quotations from 77 vendors. Mr Das said: “They left no stone unturned in completing the work within the desired timeline. I compliment you on this effort on behalf of Ispat General Hospital (Purchase).”

Mr M.K. Choudhary, Senior Supply Executive, Steel Making, Mechanical Maintenance of Tata Steel, has high words of praise for Soumitra Nandy based in Jamshedpur. Mr Choudhary says: “It will be unfair if I do not share my happiness due to consistently excellent performance by Soumitra Nandy.

His prompt reduces PR to PO cycle time drastically. He never leaves any matter without closing the loop.”

Mukesh Kumar Singh of mjunction’s Bokaro branch received high appreciation from Ms Meena Bakhla, AGM (Purchase) of the Bokaro Steel Plant, for his contribution in procurement of low value items on an urgent basis. For procurement of “Emergency case of Retro Reflective Road signage for inauguration of MRS during CEO visit”, the entire process was completed in 20 days, and the client also accrued significant savings. Challenges of technical specifications, urgent delivery and high price were well managed by Mukesh Kumar Singh, Ms Bakhla mentioned. She said: “He is dedicated towards his work, and is an example for others to follow in his team.”

As part of mjunction’s loyalty and gifting services, it organized a tambola game online for dealers of Lafarge. That resulted in significant increase in dealer login to the website. With one day to spare, all 260 prizes were claimed by the dealers. Ms Anjani Paswan, Deputy Manager, CRM & Call Center of Lafarge said: “Congratulations to you and the team for the grand success of this event.”

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VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Performance AT A GLANCE

www.metaljunction.com

Around 47,150 tons of material sold in August from SAIL BSP, the highest ever in FY17; Around 2,051 tons of flat products sold in September from TSL South; In a single auction in September, 1,830 tons of CI material was successfully sold from RINL Vizag; Total stock of GC sheet from Ram Mandir Yard cleared during monsoon as huge inventories piled up, making it a challenging situation; 750 tons of Pooled Iron Fines sold from TSL Kalinganagar; Sold 10,000 tons of manganese ore and 12,000 tonnes of chrome ore from Tata FAMD; From a new client RINL, a large quantity of 3,130 tons of Long Product items, 26,500 tons of coke dust and sludge sold; From a new client Jindal India Limited, sold approximately 2,030 tons of ferrous items.

Conducted reverse auction for the first time for new client IFFCO eBazaar for 6,500 tons of cement; Conducted reverse auction for SAIL for their high value pilot mandate for electrical and mechanical workforce to start mining operations for Parbatpur Central Coal Block; Started conducting auctions for low value items (below Rs 10 lakh) for SAIL BSL and SAIL RMD, following a SAIL circular.

www.financejunction.in

Onboarded Federal Bank for Buyer Finance Programme to provide finance facility to metaljunction auction participants; thus increasing the programme size by making limits available to approximately 50 more bidders; Completed integration testing with Tech Mahindra for channel financing of Tata Steel distributors through SBI; Added an additional Rs 10 crore limit to Channel Finance programme; Axis Bank enhances Channel Finance Programme Limit size by Rs 20 crore.

www.valuejunction.in

Signed up MWV India Paperboard for estimation and selling service; Signed up Tata Metaliks for sale of BF Gas holder; Signed up Tata Capital Financial Services to sell repossessed and used

Signed up four new clients Jubilant, Kurlon, Tata Bluescope and Infonovia; Three new contests launched and executed for dealers and distributors – Tiscon Double Bonanza, Tiscon

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Delivered 20,469 tons of Bar Bending Schedule (BBS) to BestBar, which is 38% more than the previous quarter; Northern Territory, under BestBar has been added, thus bringing all five territories of Australia under the mjunction ambit; Delivered 2,815 tons of BBS to Tata Steel, which is 35% more than the previous quarter;

International Sales

www.straightline.in

teajunction launched its new website www.teajunction.in, which provides a one-stop online platform for buyers and sellers of tea to connect directly with one another.

In the period August-October, teajunction has grown 110% y-o-y due to increased offtake by Tata Global Beverages. This has led to savings of approximately Rs 12 per kg for the client.

Transaction Processing

Dus Ka Dum Contest and Tata Tubes Marketing ka Boss.

Conducted online tambola contest for dealers of Lafarge pan India, followed by gifting, increasing dealer engagement and traffic on Maitree website; Automated performance measure for Tata Tiscon masons.

www.teajunction.in

www.coaljunction.in

Implemented e-distribution platform phase 1 module for Maharashtra State Mining Corporation. Registration applications collected from around 530 MSMEs; Developed online KYC portal for PSMS services for storing customer information, accessible to MJ, client and any other agency authorized by the client.

www.buyjunction.in

earthmoving and mining equipment; Signed up a PSU company Mishra Dhatu Nigam Ltd; Sold Spent catalyst worth Rs 1.5 Crore from Chennai Petrochemicals.

Signed up for reverse auction services with Tata Steel, Thailand and SS Steel, Bangladesh.

1855 people registered and trained in different skill development courses, of whom 1,685 are from West Bengal; Four schools inducted under School Integration Programme, touching 5,000 students in West Bengal.

VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Thirty junctionites from the Jamshedpur office participated in the 7-km run of the third edition of the Tata Steel Jamshedpur Run-a-thon on November 29. All of them participated in the 7-km run. Many professional marathon runners along with officials of all Tata group companies and other organisations participated in the run.

The best timing of a junctionite was recorded by Sunil Hansda at 44.15 minutes.

“This was an experience which induced new energy. We will love to be a part of this experience every year,” Branch Head Mr Anup Chand Lal said.

Head of financejunction Mr Rohit Singh completed the half marathon at the Airtel Run for Education event in Kolkata. He covered a distance of 21 km in 2 hours 22 minutes and 5 seconds. Around 400 runners took part in the half marathon in an event which was held for the benefit of underprivileged children. “It’s a mind game. By syncing body and mind we can really push our limits,” he said.

The CEO, Mr Vinaya Varma, addressed all junctionites at a Town Hall gathering at its Kolkata office on December 1. The 1st of every month is dedicated to this event, where the CEO shares company performance of the past month as well as diverse issues faced by junctionites.

metaljunction holds seven customer meets metaljunction organised seven customer meets for various products in different locations like Coal Tar (Kolkata), Coal chemical (Kolkata), HR/CR Scrap (Kanpur), Ferrous Products (Rourkela), PI/Melting (Jamshedpur), Coal Chemical (Bhilai) & Ferrous & Mixed Coke (Bokaro).

The objective of these meets was to capture difficulties or concerns, if any, faced by the buyers, to address their queries and concerns and to highlight the new developments introduced by metaljunction for buyer convenience such as the “turant upaay’ facility, new OTP system for Registration issues, Online EMD Management & View Ledger facility.

These meets were attended by all relevant heads of metaljunction and various client representatives like Mr Sanjay Mohan Srivastava, Head-IBMD of Tata Steel, Mr Yogesh Bedi, Chief-IBMD of Tata Steel, Mr Abhay Ranjan, DGM Marketing of SAIL ISP, Mr A.K. Kar, DGM Marketing of SAIL DSP, Mr R.K. Tewari (GM-M&BP) and Mrs Susmita Dey (DGM-M&BP) of SAIL BSP, Mr R. Upadhyaya, Senior Manager of Tata Steel and Mr Shailesh Kumar (DGM I/C Marketing) of SAIL BSL. Client representatives also interacted with buyers, heard their concerns and tried to resolve them.

Bidders’ meet at Kiriburu on online procurement

Diyas, mehendi @ mjunction mjunction ushered in Diwali at its Kolkata office premises with an exhibition of diyas first and a mehendi session later.

Junctionites bought diyas for a cause from the Ekta Self Help Group, an initiative of the SOS Children's Village, which supports families by providing them livelihood support and involving them in self-help group activities for sustainable development. The SOS Children’s Village is a voluntary non-Profitable Child Care organization established in Kolkata in 1977 is involved in providing support to orphaned and distressed Children by providing them long term support with a home and strong foundation for an independent and secure life.

Intricate patterns adorned the hands of junctionites as they enthusiastically participated in the mehendi session.

mjunction’s Soumyajit Mazumder, the onsite team leader at SAIL RMD in Kiriburu, highlighted the benefits of online procurement presentation at a bidders’ meet on November 4 at Kiriburu RTC, which was organised by SAIL RMD. This was part of the yearly vigilance week organised by Vigilance department of SAIL RMD. The objective of the workshop was to spread awareness among SAIL RMD officials as well as local vendors regarding the benefits of online procurement. In his presentation, Mr Mazumder also spoke about the latest features that SAIL RMD is adopting in order to make the procurement function more efficient.

During the workshop, he also gave a brief demo on the EPS platform that SAILRMD uses as their vendor connect system. This workshop was attended by key RMD officials like Mr Ivaraju, GM-KIOM, Mr Pahari, GM-MIOM, Mr N.K. Shetty, AGM(MM), Mr Ajay Kumar, Senior Manager (Finance) and representatives of MM, CC & vigilance departments of KIOM, MIOM and BOM.

Workshop in Durgapur on disposal of idle assets On October 1, a workshop was held on “Challenges in Disposal of Idle Assets/ Surplus Stores” by Indian Institute of Material Management, Durgapur, which was attended by junctionites Mr Arunava Mandal, Mr Obhishek Roy Chowdhury and Mr Sourav De. At the workshop, they presented on industry best practices to overcome the hurdles in the disposal process.

Mr A.K. Rath, CEO, Durgapur Steel Plant along with representatives from four SAIL plants – DSP, ISP, BSL and RSP – attended the workshop. The plants highlighted the various aspects of challenges being faced by SAIL in disposal of idle assets and surplus store items.

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VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

A Snapshot of our

Best Success Stories RINL sells nut coke Client: Rashtriya Ispat Nigam Ltd (RINL), also known as Vizag Steel, is an Indian government-owned steel producer. RINL operates a 3.4 million tons per annum capacity steel plant in Visakhapatnam.

Objective: To avoid distress sale and go for faster evacuation of material at the best price and with better competition, The Mandate: metaljunction, the business division of mjunction responsible for selling steel and its byproducts, received a mandate from RINL to sell Nut Coke, which is a raw material in steel making process.

Business Challenges: metaljunction had earlier sold Nut Coke for other steel plants, but most of the buyers were from the eastern region of the country. The primary challenge was to find new buyers of the product in a new geography.

Our Approach: ♦♦ Lotting strategy as per market demand, generating interest from both small and big buyers; ♦♦ Sales methodology introduced to enable buyers book as per their purchase capacity; ♦♦ Material was sold on arising basis for time saving in order booking processes, enabling faster evacuation; ♦♦ Standard terms in sales catalogue backed by Security deposit; ♦♦ New buyers were introduced, thereby increasing the overall buyer base, resulting in increased competition.

Benefits to Client: ♦♦ Number of buyers for Nut Coke increased from earlier 17 to presently 30; ♦♦ Significant amount of the material is being sold to new customers; ♦♦ Approximately 26% increase in price vis-à-vis benchmarks after migration from offline to online sales; ♦♦ Plant now operating at virtually negative stock; ♦♦ 100% of offered material (27,050 tons) was sold over a period of two months.

Hero Moto Corp sells auto scrap Client: Hero Moto Corp, formerly Hero Honda Motors, is an Indian two-wheeler manufacturer based in New Delhi. It has four manufacturing facilities in Gurgaon, Dharuhera, Haridwar and Neemrana.

Objective: To avoid distress sale and go for faster evacuation of material at the best price and competition The Mandate: metaljunction received a mandate from Hero MotoCorp to sell its automobile scrap material, which is further re-processed in steel making process or may be used for commercial purposes.

Business Challenges: The primary challenge was to find new buyers in the northern region.

Our Approach: ♦♦ To identify the appropriate market segments and right buyers for Automobile Ancillary Component Scrap; ♦♦ Proper understanding of the exact application (commercial or melting) of these automobile ancillary component scrap so as to generate maximum revenue from it; ♦♦ Lot creation strategy as per material type and stock, generating interest from both small and big buyers; ♦♦ Implementing correct auction strategy for the buyers

to bid conveniently without harming the interest of getting best H1 price in each auction; ♦♦ Material was sold on daily lifting basis for faster and convenient evacuation; ♦♦ New buyers were introduced, thereby increasing the overall buyer base, resulting in increased competition.

Benefits to Client ♦♦ Average buyer participation for automobile ancillary scrap has been 5 buyers per lot in each auction for this client; ♦♦ Better price realization as compared with market benchmark prices achieved; ♦♦ New buyer inclusion has increased the level of competition in the auction and resulted in selling materials offered from different locations by the client; ♦♦ Nearly 100% of offered material (2400 tons) was sold over a period of three months.

Managed sourcing service provided to Tata Steel Kalinganagar Client: The Kalinganagar plant of Tata Steel commenced production in the beginning of FY16. In Q1 FY17, as they ramped up operations, their material procurement surged. This resulted in a surge of indents, and the number of pending purchase requests skyrocketed.

Objective: Reduction of inventory from four months to less than a month.

The Mandate: mjunction was asked to devise a strategy which would achieve the client objective in a streamlined manner.

Business Challenges: ♦♦ Maintaining all procurement policies as production increased; ♦♦ Streamlining the free flow of material availability to end users; ♦♦ Monitoring & tracking of all pending indents so as to reduce emergency situations.

Our Approach: ♦♦ Segregation of purchase requests into different buckets as per various parameters; ♦♦ Setting up of weekly targets on the basis of the segregation; ♦♦ Weekly reviews with client’s purchase officers and arresting the delay in approval process; ♦♦ Weekly reviews with end users; ♦♦ Increase monitoring levels which led to increase in visibility for the buyers; ♦♦ Purchase group wise aggregation of PRs. Benefits to client: ♦♦ Reduction of pending purchase requests beyond 15 days by 81% in 6 weeks; ♦♦ Owing to purchase group wise aggregation of PRs, strategic savings of around Rs 45 lakh; ♦♦ Identification and arresting of all bottlenecks of procurement process.

SAIL RMD procures all low value material Client: The SAIL Raw Materials Division (RMD) was formed in 1989 with the purpose of creating synergy of all SAIL mines in the eastern sector.

Objective: To rationalise supply of basic raw materials to steel plants so as to achieve self-sufficiency in quality iron ore.

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The Mandate: Reverse auction of all procurement for estimated value of Rs 5 lakh and above and penetration to all the six mines under SAIL-RMD Business Challenges: ♦♦ Lack of knowledge of the client on reverse auction processes; ♦♦ Remote location of mines and poor connectivity; ♦♦ Mental block on online processes; huge dependency on conventional procurement systems.

Our Approach: ♦♦ Arranging awareness training of purchase officers; ♦♦ Frequent visits to mines and meeting the top management; ♦♦ Explaining to them the benefits of reverse auction; ♦♦ Showcasing other SAIL plant case studies; ♦♦ Holding bidder awareness programmes; ♦♦ Issuing circular for procurement of above Rs 5 lakh routed through reverse auction Benefits to client: ♦♦ Incurred 13.6% savings from benchmark price in single case of procurement of Continuous Ambient Air Quality Monitoring Stations. Reverse auction was conducted on a single day’s notice. ♦♦ Reduction of turnaround time, clear and transparent process in line with vigilance stipulations; ♦♦ Identification and arresting of all bottlenecks of procurement process.

SAIL ISP sells blooming & heavy structural mills Client: The IISCO Steel Plant (ISP) is a SAIL subsidiary, a full-fledged integrated steel plant in Burnpur.

Objective: SAIL wanted to sell its steel mills at ISP Burnpur which was installed way back in 1938.

The Mandate: SAIL wanted an auction strategy that would discover the prices of every category of material present in the mills.

Business Challenges: ♦♦ During the period when the sale was being conducted, the steel market was going through a lull phase & prices of ferrous & non-ferrous material was on the decline. The challenge was to achieve the best market price in these prevailing market conditions. ♦♦ valuejunction was to carry out the due diligence of buyers before allowing them to participate in the auction, so that there were no post-auction defaults.

Our Approach: ♦♦ In-depth inspection of the mills to assess the condition and decide on the optimal selling strategy; ♦♦ Estimation report prepared for SAIL which assisted them in setting the reserve price for the auction; ♦♦ End users & large steel mill equipment traders were targeted to enhance competition in the auction. ♦♦ Multi Variable Bidding strategy adopted so that SAIL received a price break-up of each category of material; ♦♦ Seven buyers submitted their techno-commercial bids to SAIL, out of whom four were shortlisted.

Benefits to Client: ♦♦ The Blooming mill received a quotation of Rs 6.28 crore and the Heavy Structural mill received a quote of Rs 10.83 crore. ♦♦ The H1 prices achieved were 12% higher than the estimated prices of both the mills.

VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Singing, Thinking & Playing @ mjunction

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n a series of employee engagement programmes that were conducted at mjunction’s Kolkata office, junctionites sang, played carrom and table tennis, and answered quiz questions.

It all started with Antakshari, as five teams sang their way through one hour of musical journey which was organised by musicjunction and hosted by Indranil Banerjee, Abhishek Kar and Sakuntala Biswas.

The programme started with an Agamani song, which provided the cue to the first round. This was followed by the Prelude, another Cue Round, Antara Mukhra round and a music quiz.

Winning team: Table Tennis

of Nilanjan Sen and Kamalika Das Chanda) go for the kill and take a 30-point lead to finish winners. Team ITTIAM (consisting of Kallol Ghosal and Khsitij Nilank) finished at a well-deserved 1st Runner Up position.

Displaying camaraderie and playing in the spirit of the game, three teams from mjunction locked horns, this time over a table tennis board.

Two of them – Warriors and Matchless – battled it out in the finals.

Winning team: Antakshari

Team Rockstar (consisting of Asiya Zaki, Adwitio Sengupta and Kamalika Das Chanda) emerged winners after all rounds. Team Silkroute (consisting of Susmita Paul, Chaiti Mazumder and Bhaskar Chakraborty) and Team Sargam (consisting of Doel Chakraborty, Payel Misra and Anamul Haque) were the 1st and 2nd Runners up respectively.

General knowledge and quizzing skills were on display at a quizzing event, which was conducted by Debashish Mukherjee and Abhishek Kar. The 30-question quiz drew a lot of enthusiasm from the participants as well as the audience. The last round saw Team Inquest (consisting

Winning team: Carrom

Team Warriors (Debashish Mukherjee: Captain, Jamsheed Daver, Suranjan Mullick, Supriyo Mullick, Rajesh Jha & Arindam Bandyopadhyay) walked away with the honours in a keenly contested game.

Team Matchless (Abhilash Chatterjee: Captain, Abhishek Sen, Rajdeep Datta, Biplab Biswas, Avijit Bose & Soumyadip Pal) took the runner-up position.

Double Carrom came next, as 24 teams battled it out for three days and 27 rounds of game. Finally, two teams qualified for the finals.

Of the two teams, the team consisting of Pradipta Chakraborty and Suvendu Das emerged winners. The other team, consisting of Arun Mahapatra and Goutam Das, emerged the runner up.

Winning team: Quiz

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VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Ramsha 6, is Anamul Haque’s younger daughter.

She wrote her feedback too.

Sofia 11, is Anamul Haque’s daughter who visited the office on Family Day. In a heartwarming gesture, she has written her reaction as she visited her father’s office.

“Both my mother and my son were delighted to receive the warm welcome at mjunction. In fact, it was an answer to my son’s curious questions regarding my workplace.” Rinku Ghosh

The Ath let es

oy

Ghosh

“It was a proud and happy moment for me as I walked into the office with my parents on the 12th to participate in the “Family Day,” reminding me of the day they held my hand on my first day to school. In fact, my father being a senior person from the industry, I have visited all his offices. On that day, the role reversal made me feel on top of the world. “ Subhradeep Sen

w: Mrittik Sa orro ha m o wi ft

J th

“My three-year-old son Hriday was keen to see my office, and Family Day gave me an opportunity to fulfill his wish. He enjoyed the motion sensors of our lights and swiveled in my chair. He loved the snacks at the café.”

Amit Kumar

o

“I have no words to express my little daughter Anushka’s happiness as she entered our 3rd Floor office. When it was time to leave, she did not want to. My wife loved the office too. A selfie at my seat and some snacks at the canteen brought an end to this wonderful day.”

Kaushik Kumar Mitra

“I showed my wife around my second home, and she had high praise for it. It was a great opportunity from mjunction.”

Soudipto Malakar

“Our daughter was really impressed by the office. Now whenever we are late, she knows where we are.”

Samya & Rituparna Mukherjee

“It was my mother’s birthday and turned out to be a perfect day for me to show her around the office along with my father, wife and child.” Abhilash Chatterjee

My family loved the ambience of the office. They especially liked the gymnasium facilities.” Subhankar Gupta

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Id

VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Inbox ea

Idea Inbox : Empowering junctionites

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he tagline of mjunction’s new initiative – Idea Inbox – sums up its essence. A brainchild of CEO Mr Vinaya Varma, it is all about doing just what the tagline suggests. A platform of, for and by junctionites, Idea Inbox kicked off exactly at 4 pm at mjunction’s Kolkata office on a November working day.

Two teams – led by Atin Banerjee and Moshahar Bayen – presented their solutions on one specific idea to a roomful of junctionites and the judges – Vice-President Mr Pankaj Mittal, who also acted as the moderator, and Associate Vice-President Mr Rajarshi Chattopadhyay.

Both presenters took questions from the audience at the end of their presentations. This was followed by a round of voting Think. Share. Engage. by all junctionites using secret ballot. In fact, the NOTA (None of the Above) option was also allowed in case anyone felt that none of the solutions will address the problems effectively.

At the end of a quick round of counting, Moshahar Bayen emerged the winner.

The winning solution will be further refined by a team and then made ready for implementation.

Idea Inbox events will be held at regular intervals based on ideas generated through the online idea-sharing platform the Tata Innoverse, the CEO has informed all junctionites. This is a platform where all junctionites can participate – whether in terms of posting new challenges or ideas or providing solutions to challenges. The ideas to be presented will be selected on the basis of popularity on the platform, measured by the number of “Up” or “Like” votes it receives.

The initiative aims towards creating a culture where ideas are nurtured and developed, making mjunction an idea-powered organization, Mr Varma has said. While presenting an idea, the junctionite has to cover the existing process and its pain points and how the new idea will benefit both mjunction and its customers.

A

Well-being session for junctionuites

fter music and games, it was time for some soul-searching, and that resulted in an interactive session on “Inner Consciousness & Well Being”.

The session was conducted by Adwitio Sengupta, a fellow junctionite and instructor with The Art of Living Foundation, a volunteer based humanitarian and educational NGO. Everything that we do in life is aimed at happiness. However, we do not always easily achieve what we want. The workshop was aimed to make the participants realize how one can reconnect to their inner selves and effortlessly achieve their professional and personal goals in life.

The workshop offered to make the junctionites discover the “how” of lasting happiness, through meditation – a simple yet powerful technique that easily draws an individual into a deep state of calmness. A few interactive processes, based on the simple premise that a happy mind lets you make better decisions and improve the overall quality of life, kept the junctionites engaged throughout the session.

The global need to check workplace stress formed the basis of the discussion. The workshop concluded with a short meditation.

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Joy of Giving Week celebrated mjunction celebrated the Joy of Giving Week or Daan Utsav, which aims to spread love and delight among the less fortunate.

This year, it collaborated with the Hope Foundation in order to bring some smiles on the faces of orphans, street children, destitutes and senior citizens. A Wish Tree was created where junctionites wrote their contributions, and wishes they want to fulfill for the underprivileged. The amount collected in this week-long drive was handed over to Hope Foundation.

VOLUME VIII | ISSUE III | OCTOBER - DECember 2016

Life in the slower lanes

Q1. What is common to David Beckham’s knees, Celine Dion’s vocal cords and the tongue of the chief taster for the UK’s Costa Coffee chain?

Q2. This world famous design in glass, created for one of the world’s most popular consumer brands in the early 1900s, was named by its designer after the sheath dress. Identify the designer and the brand.

Q3. An Indian industrialist and a former RAF pilot approached the Government of India in the early 1930s offering it a subsidy of Rs 1.25 lakh or guarantee of Rs 1 lakh a year for a service they planned to set up. What was this venture?

Q4. Ajay V Bhatt became a celebrity through an Intel advertisement.

What is he best known for?

Q5. This entrepreneur, after he took over a wine store owned by his parents in the US, set up a video camera inside the store and discoursed about what makes certain individual wines great.

Name him and his blog.

Q6. This cloth was first encountered by European Traders in the town of Mosul, Iraq. However it is believed that the fabric first originated in Dhakeshwari, now Dhaka. Name the Fabric.

Q7. Name this global QSR brand that is planning to turn about 500 of its outlets across north and central India vegetarian during the nine-day Navratri period starting October 1, 2016.

Q8. Which product was created by Peak Freans in 1874 to commemorate the marriage of the Grand Duchess Maria Alexandrovna of Russia to the Duke of Edinburgh?

Q9. The Karnataka Khadi Gramodyog Samyukta Sangha in Hubli is the only licensed production and supply unit of which product?

Q10. This company is a chain of High grade Opticians and makers of best quality Survey, Scientific and Meteorological Instruments. It opened its first Indian office and showroom in Calcutta in 1877.

What is it?

The answers to the previous edition of the quiz are as follows: 1. The NeXT computer founded by Steve Jobs 2. Ben Cohen, the co-founder of the famous ice cream brand Ben and Jerry’s 3. HSBC 4. Hard Rock Café 5. Encyclopedia Britannica .

6. Masala Bonds 7. Good Sense Triumphs 8. Holmes The winner of last 9. Pokemon Go quarter’s quiz is 10. Colgate Cibaca Vedshakti by Colgate Palmolive Chaiti Mazumder

Congratulations

Quizmaster & Compiled by Debashish Mukherjee of Corporate Accounts. Contributions also from Abhishek Kar of Technology.

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Printed at: florenceoffset@yahoo.co.in

corner

We bring to you a new edition of the Quiz Corner. Please mail your answers to mjpost@ mjunction.in and you may win 250 straightline points. The decision of the quizmaster will be binding and final in all respects.

For Private Circulation Only Regd. Office: mjunction services limited, Tata Centre, 43 Jawaharlal Nehru Road, Kolkata 700 071, Website: www.mjunction.in Corporate Head Quarters: Godrej Waterside, 3rd Floor, Tower 1, Plot V, Block DP, Sector V, Salt Lake, Kolkata 700091, Tel: +91 33 6610 6100, Fax: +91 33 6610 6187 CIN: U00000WB2001PLC115841

Subhajyoti Roychowdhury’s lens captures some fascinating images of the lanes and bylanes of the Holy city of Varanasi