Tata Steel signs MoU with Hindustan Zinc for procuring zinc and other metals

<p style="text-align: center;"><img title="1604980625650640.jpg" alt="8.jpg" src="/ueditor/php/upload/image/20201110/1604980625650640.jpg"/></p><p>&nbsp;India’s top steelmaker,&nbsp;Tata Steel&nbsp;Ltd has signed a memorandum of understanding with&nbsp;Hindustan Zinc&nbsp;to procure the company’s complete domestic&nbsp;zinc&nbsp;requirements, a move towards achieving Aatmanirbhar Bharat, the company said.<br/><br/>“This initiative would bolster the idea of Aatmanirbhar Bharat with one of the largest companies choosing to become vocal for local. Under this&nbsp;MoU, Hindustan Zinc will cater to both Tata Steel &amp; Tata Steel BSL supplying a quantity of around 45KT of zinc and other value-added metals” said the company in a statement.<br/><br/>Hindustan Zinc has implemented a service called vendor management inventory (VMI) solution and Tata Steel will be the first customer to try this unique solution.</p><p><br/></p><p>“As a first VMI customer, Tata Steel&#39;s inventory and stock will be closely monitored. Upon sensing a shortage on a real time basis, the material shall be delivered on impromptu basis from Hindustan Zinc warehouses with no risk to operation,” the company said in a media statement.<br/><br/>Hindustan Zinc will also keep safety stock at all their depots across India for Tata Group Companies, the statement added.<br/><br/>“While Global technical experts deliver curated technical services for productivity and quality improvement, Vendor Managed Inventory will ensure significantly lower inventory costs across Tata Steel units.</p>