Summary:
Supply Chain and Logistics Excellence (SCALE) Award organised by CII recognizes the innovative steps undertaken by GNFC in its Supply Chain Management to propel growth.
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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 and yearly 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 re-engineering, 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.