By: ICN Bureau
Last updated : August 04, 2022 9:03 am
The global award ceremony was graced by eminent speakers, SCM professionals and business leaders across the industry.
Aarti Industries Limited (AIL) is the only Indian company to have won the Best Supplier Relationship Management Initiative Award during the prestigious CIPS Asia Excellence in Procurement Awards 2022 in Singapore on 7th July 2022.
The event was organized by CIPS and ProcureCon, two of the leading organisations offering procurement and supply chain professionals globally with senior-level networking, training, learning and development opportunities.
The judges for this category focused on strategy development projects, which demonstrated the processes and mechanisms through collaborations on successful projects. AIL won this award for imbibing a culture of sustainable practices amongst its business partners and promoting a sustainable ecosystem by felicitating them at the Sustainable Business Partner Conclave organized by the company.
The global award ceremony was graced by eminent speakers, SCM professionals and business leaders across the industry. One of the keynote speakers during the event was Prasanta Gupta, the Senior Vice President and Corporate Procurement Head of AIL.
He spoke on “Reimagining procurement process with digital technology- How to strengthen supply chain resilience and enhance agility by digital & analytics adoption”.
During his presentation, he emphasized on the importance of blockchain technology and how it can be effectively used in the procurement process to impact the triple bottom line of business.
Gupta also presented a case study on how blockchain enables a consortium of industries to build a Sustainable Supply Chain Ecosystem with mutual trust, enhanced transparency and significant cost saving during the Business Partner evaluation process.