Value unlocked/ created - Rs. lakhs - Rs.75.96 lakhs of extra revenue per annum was achieved for a steel company based in Chhattisgarh.

How & what was done to create/ unlock value - stress on innovation, creativity, out-of-the-box thinking - A steel company based in Chhattisgarh had an unused Air Strip at Nandini district, Durg. An opportunity existed to lease it out on annual license basis to private operators for purposes like setting up flying training institute/flying academy.

High level process - methodology (very briefly) - Potential flying training institutes were identified, approached and convinced to participate in an online forward auction that was held on 18.01.2008. Three bidders participated and 48 bids were received. The winning bidder quoted a rental of Rs 6.33 lacs per month which translates into revenue of over Rs.75 lakhs per annum for the steel major.

Can this be replicated to add value to others - in a genuine way/ specific way - Every company has assets which are not productive. mjunction can help companies identify these assets as also help monetise the same.

Value unlocked/ created - Rs. lakhs - Re 0/- (zero) rent per connection per month and discount of Rs 75.19 per bill value per connection per month was achieved for a steel company based in Jharkhand.

How & what was done to create/ unlock value - stress on innovation, creativity, out-of-the-box thinking - The steel company wanted to finalize a mobile service provider for extending mobile facilities to its executives within a very tight timeline.

The number of mobile connections involved was in the range of 2500-4,000 and hence an opportunity existed to bring down the total outgo per connection.

High level process - methodology (very briefly)- Three mobile services providers were approached. The resistance to participate in online bidding was overcome through briefing sessions with the operators.

The rate plans of the mobile operators were studied and a unique auction strategy was developed as the price discounts could be had on both the fixed part i.e. the rent per connection and variable part i.e the bill value per connection portions. The auction methodology was built keeping both these parameters in perspective.

The auction strategy consisted of three independent auctions - a combination of sealed bids, reverse auction (RA) and forward auction (FA) types respectively. All the three operators participated and the event was held on 14.01.2008 which received a total of 162 bids.

The winning bidder quoted a zero monthly rental along with an additional discount of Rs.75.19 on talk-time per connection per month.

Can this be replicated to add value to others - in a genuine way/ specific way- The innovative auction strategy developed for the steel company was used by mjunction to negotiate the rates for its own mobile connections. The monthly rental of Rs.399 has now come down to Rs.176 per connection per month brining in substantial savings for the company.

Communication costs, particularly cost of mobile phone charges are a recurring expense for every company. mjunction can bring in similar cost benefits to companies who provide mobile connections to a large number of its executives.

EPS was first implemented at SAIL RSP in April 2005, for transfer and view of RFQs (tenders) and bid submission online. Gradually Purchase Order, Dispatch, Receipt and Payment modules have also been put online. Today EPS is being implemented in eight more plants and units of SAIL. HCL, GRSE and TATASTEEL OMQ are using EPS as their preferred mode of eProcurement.

buyjunction recently executed an eSourcing event for one of the largest business groups for their requirement of personal computers across group companies. This event was the largest collaborative procurement exercise conducted by any business conglomerate in India. The total buy among the participating companies were approximately 6,000 PCs per year.