Tata is one of the companies you just can’t ignore, not only because of their wide range of quality products and services but the credit for this goes to the amazing personality of Ratan Tata, as well. So, in this article, we have a brief case study on Tata Steel.
The group is the perfect example of nationalism, which fueled the incorporation of the business group by Jamsetji Tata in 1860. However, Tata Steel came into existence in 1907, with its headquarters in Jamshedpur, which went on to be India’s largest integrated private sector steel company.
In what was once considered an old-fashioned steel industry, Tata Steel came along and introduced and encouraged the use of technology which revolutionized the industry once and for all. The company went on to become one of the largest IT adopters in the Indian corporate sector.
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Tata Steel was also one of the first companies to introduce data mining technology in their production process, which resulted in an increase in their product quality by leaps and bounds.
Not only this, Tata Steel has developed and implemented in-house management, employee self-service, and workflow solutions in all its departments, starting from the floor level with the assistance of kiosks.
The implementation technology by Tata Steel is the perfect example of how technology can be used efficiently and effectively for handling all the tasks, even the administration ones. One of the first adopters of e-procurement, with 3,100 suppliers transacting business through the system, was TISCO. This formed a B2B relationship between Tata Steel and Tata Ryerson.
They also integrated with external processing service centers and agents for production scheduling and planning and real-time integration of supply chain applications with distributors.
The vision to be a global benchmark in value creation and corporate citizenship with which Tata Steel Group set out to do business is still entitled in how they conduct their business. The company was always aware of the challenges it would have to face and was ready with how it would tackle them. A few of the challenges they face include the steel markets in Europe being constantly under pressure to produce good quality steel, the cost of obtaining raw materials at historically high prices, and climate change becoming a greater danger than many might have thought hampers the production practices.
Tata Steel has consistently set its eyes on expanding its capacities and becoming a global brand that is competitive in any part of the world. The company adopts many different practices to ensure that it can reach its goals. Adopting the ‘best practices that are followed in the area of Corporate Governance across the world, is one of the major aspects of its growth strategy. This case study aims to enlighten the readers about the many accomplishments, challenges and opportunities faced by Tata Steel.