The Indian Railways will be launching digital contract, a system of digitisation of its entire supply chain across all zones. The step is aimed at improving the ease of doing business and transparency. With 100 per cent E-tenders and E-auctions already assimilated into the system, railways are further planning to build on these initiatives to achieve seamless flow of material, finances and information. Digital contract, a seamlessly integrated digital supply chain, to be launched by Railway Minister Suresh Prabhu on April 11, envisages involving stakeholders including industries, financial institutions, internal customers of railways and inspecting agencies to create an efficient, responsive and transparent system.
The system includes digitisation of processes like bill submission, inspection, dispatches, receipt, bill passing and bill payments, warrantee monitoring and enabling use of analytics for increasing supply chain efficiencies in real time. “Digitisation of supply chain should be seen as a tool for generating efficiencies, reducing entry barriers and transaction costs and increasing transparency,” said a senior Railway Ministry official.