 "ONGC Implements SAP Enabled Reverse Auction Process")
Oil and Natural Gas Corporation Ltd. (ONGC), has introduced SAP powered ‘Reverse Auction’ process termed as ‘Live Action Cockpit’ (LAC). The system will enable ONGC to collect and compare price and bid information of various suppliers in a real-time, open bidding environment.
The reverse auction process enables supplier selection process by facilitating vendors worldwide to participate in the bidding process seamlessly. LAC will be the sole procurement window for all ‘high value’ tenders, valuing more than Rs. 1 crore. This process will provide a level playing field to bidders having necessary techno-commercial capabilities. Adhering to the guidelines of CVC the Reverse Auction process will ensure standardisation of the procurement process of ONGC.
Launching the Reverse Auction Process at Mumbai U.N. Bose, Director (T&FS) said, “ONGC strongly believes in adopting world-class processes and technologies to generate better value for its stakeholders. The reverse auction will ensure transparency in the tendering process and thereby generate confidence amongst the bidders. It will also add speed to the process of procurement, which will allow ONGC to source best in class technology. On the basis of the pilot project it is estimated that reverse auction will be able to accrue a cost saving of nearly 10%.”
“SAP is proud to be part of such a powerful initiative on one of India’s largest public sector organisations,” said Ranjan Das, President & CEO, SAP Indian Subcontinent. “The LAC will bring in higher efficiency, cost savings and transparency to ONGC’s procurement processes as it continues on its path of being a global Oil & Gas leader. Such initiatives prove that when it comes to harnessing technology for more efficient business operations, public sector companies like ONGC are second to none globally.”
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