Hindustan Zinc’s Evolve eCommerce Initiative has been conferred with ‘Best eCommerce Technology Innovation award’, under e-Commerce category for its overall state-of-the-art innovation of changing the way metal is bought or sold in the market. The awards were presented in the recently held ‘21st Inflection Conference & Awards 2020’ ceremony via virtual event co-sponsored jointly by NASSCOM Centre of Excellence-IoT & AI, Singapore Institute of Materials Management (SiMM), Council of Supply Chain Management Professionals (CSCMP) and The Alden Global Value Advisors.
Hindustan Zinc’s Evolve is India’s first online buying platform for non-ferrous metals. The eCommerce platform is designed to offer a robust and transparent, three-click buying experience for zinc, lead and silver on a single platform based on real time pricing on LME/ LBMA. Buyers can opt for quantities as low as one tonne, which not only improve their working capital cycle but also enable smaller buyers to opt for premium quality at a significantly lower price. The Company trusted SAP’s global C4C platform to create a unique experience – integrating convenience, security and ease of access.
Speaking on the occasion, Mr. Arun Mishra, CEO, Hindustan Zinc said, “Driving a high-performance culture by creating disruptive ideas in technology and innovation is what exemplifies Hindustan Zinc as an organization. This is a huge achievement for us, and just goes on to demonstrate our continuous efforts in embracing innovation and technology. Our aim is to revolutionize the Indian Mining industry through adoption of such innovative ideas and continue to strive for excellence.”
EVOLVE would address the challenge of buying smaller lot quantities and thereby reaching out to small/micro customers thus contributing to the our honorary Prime Minister’s vision of Atmanirbhar Bharat, by making it accessible for smaller customers to buy from OEM in India itself rather than resorting to a material which comes through import. The online buying platform would also facilitate in creating a daily INR benchmark price in the Indian market. it will offer integrated solutions including KYC for customer onboarding, GST integration, SAP integration for credit management and accounting, auto hedging (in collaboration with JP Morgan) as well as product management.