An apex Strategic Conference on Cost Control and Cost Competitiveness was organised by SAIl at its Management Training Institute, Ranchi during September 11-12 last.
SAIl Chairman CS Verma, all the Functional Directors, Chief Executive Officers of the integrated steel plants and other top officials attended the conference.
A special initiative named COIS (Cost Optimization Initiatives of SAIl) was launched outlining the roadmap for achieving an overall saving target of around Rs 5,000 crore during the next three years.
Under the special initiative, four thrust areas have been identified for continual cost reduction. They include optimization of input, improvement in the operational efficiency by optimally utilizing the available assets, quick stabilization of the newly commissioned units and reduction in overhead costs and enhancing employee productivity.
For each of the areas, the integrated steel plants and units have identified potential cost drivers and elaborated their strategy for cost optimization.
During the deliberations, Verma highlighted the challenges before the organization due to prevailing market conditions and intense competition. He urged the participants to think out of the box and walk the extra mile to enhance competitiveness of the company. He advised the senior officials to lead from the front for achieving the company’s goals.