Steel News

Tata Steel Tightens Embrace of Industry 4.0

7/30/2020 - Tata Steel is targeting EBITDA improvements totaling US$2 billion over the next several years by further adoption of Industry 4.0 technologies, the (India) Economic Times reports. 

"Tata Steel has embarked on a multi-year transformation journey to become an agile, digital and intelligent enterprise and the leader in digital steelmaking by 2025. In the process, we intend to generate EBITDA improvements of $2 billion, enhance our digital maturity and improve our work practices to be more insightful as an organization," the newspaper said, citing its newly released annual report. 

“Our aim is to make digital interventions across the organization, including in operations, integrated supply chain, planning and logistics, and marketing and sales, among others. We are looking at various initiatives to drive end-to-end cost optimization,” the company said. 

“We are also reengineering our procurement process by introducing digital catalog-based buying platforms, commodity price prediction-aided buying, analytics-powered negotiation tools for category managers and end-to-end contract life cycle management and analytics.”

Read more here and here.