New Delhi: As the PSU sector reels under the government's aggressive disinvestment drive, the companies that seemed to have escaped the onslaught are increasingly looking at ways to stay in the race and make themselves fitter, leaner and relevant. After Indian Oil Corporation (IOC) undertaking a rationalisation drive a week back, Steel Authority of India Limited (SAIL) has launched a new cost control drive.
The drive is called 'Do More with Less' and has been launched at all of SAIL's plants and units. "SAIL's Chairman Anil Kumar Chaudhary has given renewed thrust on aggressive cost control in the company. The cost control measures not only bring out the best and improve efficiency but also give a lasting competitive advantage," an official press release from SAIL said.
'SAIL plans, units working on mission mode to control cost'
All the plants and units of the company are working on a mission mode to reduce the cost of production with the guiding principle ‘Do More with Less.' To ensure larger employee engagement and involvement in this endeavour, a series of workshops are being organised in all the plants and units of the company. The focus of these workshops is to evolve action plans for improving operations and operational efficiency through enhanced production and better techno-economic performances, better utilisation of raw materials and enhancing revenue generation through other means, the release said.
"As part of the initiative, executives from different units have been grouped into cross-functional teams. The teams are formulating strategies by focusing on the technical levers so as to improve the techno-economic parameters and other cost-related aspects across the organisation," it added.
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