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Indian Oil Corporation and Honeywell win the ISCEA Ptak Prize

Manufacturing News, Source : The Manufacturer US
Zone : Leadership and strategy
Published : 28 May 2007 19:07

Chicago, IL, USA May 24, 2007. At a special reception held at the 25th Anniversary of the DC EXPO at Navy Pier in Chicago, IL, ISCEA (International Supply Chain Education Alliance) awarded the 2007 Ptak Prize for Supply Chain Excellence to Indian Oil Corporation (IOC) and Honeywell international for their Collaboration in a Supply Chain Excellence.

“Indian Oil Corporation (IOC) and Honeywell have implemented a supply chain solution that takes a system view of the organization. They have moved from focusing on local optimums to creating a more holistic solution that focuses on a global optimum. Supply Chain Professionals Worldwide should take note of what Indian Oil and Honeywell International were able to accomplish in such a short time. We are delighted to recognize their success with awarding the 2007 Ptak Prize,” stated Dr. Charles A. Watts, Executive Director of Education at ISCEA.

"Supply chain integration and optimization are critical to compete in the global market today," said Harsh Chitale, vice president of Strategy and Global Marketing for Honeywell Process solutions. "Combined with our advanced applications and the Experion control platform, Honeywell's Supply Chain solution improves visibility to the supply chain process and enables faster, more effective decision making that leads to overall improved business performance."

Shri S.S. Soni, of Indian Oil Corporation stated that the “collaboration with Honeywell has an End-to-end Supply Chain optimization that has enabled IOC to optimize Corporate profitability across its entire supply chain. Our collaborative solutions are enabling the Corporation in selection of optimal crudes, their allocation amongst its various refineries and in arriving at the optimal distribution plan with least placement cost to the consuming centers and facilitating decision in respect of major investments”.

Ptak Prize Selection Committee will be accepting nominations for the 2008 Ptak Prize starting June 1st 2007 until March 31, 2008. Organizations that have made significant improvements through Vision, Business Rules, and Technology are encouraged to submit nominations for the 2008 Ptak Prize.

The 2008 Ptak Prize will be awarded in May 2008.

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