Embedding new strengths

Aligned with our commitment to customer-centricity, embedding new strengths across different facets of our business is an ongoing endeavour. As we build a better and stronger organization, it also positions us well to achieve new paradigms of growth.

Manufacturing Facilities

Augmenting our technology

We started the creation of a single source of truth (SSOT) at Neuland. SSOT ensures that relevant personnel have access to the same data to extract insights, thereby leading to more informed and better decision-making. To enable the effective implementation of SSOT, we are managing, centralising and organising master data according to the business rules of the sales, marketing, and operational strategies of the Company. Along with high data accuracy and data accessibility, SSOT also facilitates better collaboration between teams, a key imperative as we strive to ensure the highest levels of efficiency in project management.

Another highlight of our technology focus was the implementation of Serialisation Toll, a Quick Response (QR) code for all commercial dispatches. This online compliance system integrates the processes with a common workflow to provide on-the-spot labels and audit trail facility.

We are leveraging greater efficiencies with the adoption of Robotic Process Automation (RPA) across our various processes. Automating manual repetitive tasks, RPA is also driving greater accuracy and freeing up our employees’ time for more value-accretive and meaningful work.

We are working on improving our Resource Management, which includes planning, scheduling, and allocating the resources to the right project at the right time to maximise profitability. Other highlights of our efforts towards leveraging the power of technology include undertaking IFC automation to improve the governance process.

Underscoring our continued focus on cybersecurity risk management, we implemented Immutable Backup Solutions. These are currently the highest level of backup protection possible and not prone to ransomware, unattended access, or human factors. Our Information Security Management System (ISMS) certification was successfully renewed as per ISO 27001: 2013 standards.

De-risking and digitising our supply chain

We reduced our reliance on China for key materials by qualifying indigenous suppliers for key molecules. We also identified Indian sources with strong chemistry capabilities and competitiveness for other materials and engaged with them to ensure supply. Our efforts over the years have brought down China-dependent procurement from over 20% in FY 2019 to 10.2% in FY 2023.

Through the complete integration of our Procure-to-Pay (P2P) cloud platform, we have achieved a fully digital procurement process. This has enabled us to secure the best market pricing and collaborate with a wider range of suppliers. Additionally, the digital platform provides ease of transaction, transparency, and traceability, resulting in faster and more informed decision-making.