Indian Railways is soon to be launching a digital contract to improve the business and transparency. 100% of E-tenders and E-auctions already started the system. The main aim of this digitization is for the flexibility and fast flow of material, information, etc.
Railway Minister Suresh Prabhu announced that a digital contract would be launched for the flow of supply chain on April 11th for the ease of stakeholders including industries, stakeholders, financial institutions and internal customers. The system will digitize all the manual processes in railways like bill submission, inspection, dispatches, receipts and bill passing and bill payments, warranty monitoring and the use of analytics and increase the supply chain system efficiently.
Railway Ministry Official stated that the Digitization of the supply chain is a tool for efficient, fast, transparent and seamless transactions.
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Indian Railway is a vast system and to manage everything digitally the system should be even more robust, secure and efficient, The supply chain involves an enormous expenditure of Rs. 50000 crores per annum and also generates a massive business and employment upstream. So the system that is going to be launched must be very efficient to accommodate all the services.
A railway official said that the system also helps to link budgets with outcomes. As the other businesses and governments are changing rapidly, he said that its time for the Railway system to enhance the services and increasing transparency and efficiency by introducing this digital system is an attempt to achieve this goal. He appreciated the commitment of the ministry regarding budget and support.
“This paperless digital contract management system where all the bids are made online and electronically is nothing but a new era in Railways. We completed the trail run, and we are so excited to launch the system as soon as possible.”Suresh quoted.
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An official claimed even the acceptance letter is also made digital with this system leading us forward to a digital decision system.The new supply chain digitization would focus more on the integration of information, physical flows, financial flow between our Railways and the supply chain organizations. The system made every business process in the supply chain management digital including the processes handled by different stakeholders.
The supply chain management is maintained by one online website which can handle a business of up to Rs. 50000 crore through 100 percent E-tenders. It can handle Rs. 2500 crore auctions through 100 percent E-auctions every annum. Not only them but also that can handle 52000 registered vendors, their supplies, 2664 registered bidders and the supply chain efficiently.
The whole system will be regulated from the headquarters located at 17 zonal railways and eight production units with over 300 field locations. Any change in the supply chain needs to be innovative and sophisticated. In the last few years, the Railways supply chain management is experiencing rapid changes with the e-tendering, e-auctions, and the whole decision-making process.
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