The supply chain at Jubilant Life Sciences, has been in direct correlation with the external markets and based on the changing market conditions, we maintain flexibility and aim at bringing about continuous improvement in performance.
The focus on transparent e-procurement purchasing electronic process (EJBUY) for transactions on export logistics services has been implemented with high online quotes target and is now in the process to be extended into all category of buying. The maturity and the online negotiations and approvals with Management Information System and intelligence on the platform has been the primary focus for us during this year leading to transparency, visibility and faster processing of transactions across the value chain. Keeping this in mind we also help in protecting our environment with paperless buying.
The negotiations through reverse auctions on selected categories have been implemented on the platform thus achieving better price discovery in order to fulfil the target of cost reduction.
Various initiatives on alternate sourcing, consolidation and single window buying have been introduced in the system to bring more value to the buying process. The activities have been further extended to integrate R&D spend and to look at global sourcing initiatives with a strong eye for sourcing from China.
Our other initiatives on integrating logistics through multi-modal transportation of bulk liquids from and to the ports and its integration with in-house railway siding has been a proud achievement. Further, stretch targets with respect to improving ‘On Time in Full’ for customers and reducing inventory in the pipeline have been brought into consideration in order to manage costs better. Measurement systems within the Supply Chain Re-engineering (SCOR) framework which are able to measure the critical parameters for supply chain accuracy have focused to improve the customer facing metrics through the automated order management process on the Information Technology (IT) platform used. Monthly measurement of forecast accuracy has created better visibility, especially on the inventory across the end-to-end supply chain. We are in constant talks with our suppliers for taking certain initiatives on greening supply chains.
We are working with a target of sustainable growth with a strong commitment towards environment and simultaneously learn and grow with our own stakeholders. The excellence and perfection of the supply chain processes has been the result of a long journey which shall unravel itself in a much more advantageous manner in the coming times.