Aker Kvaerner designates India as global procurement hub

Mumbai: Aker Kvaerner has designated India as a global procurement hub. The Aker Kvaerner group initiated the concept of global sourcing in 1999, when a team of representatives from each office was formed. To start with, this initiative was limited to the Engineering and Construction business unit of the group. Based on the success and experience drawn from this initial foray, the global procurement concept is now being spread to all the other business units and areas of the group spread across the globe.

The actions and initiatives related to global procurement are being carried forward by Global Sourcing Teams that include members from all the business units. The company foresees that rigorous and comprehensive strategic sourcing and supplier integration processes are key to breakthrough value creation for their global business projects.

"Procurement today is the vital link between engineering and construction for sourcing, purchasing and delivering bulk materials and equipment. We recognise the potential of Indian suppliers and their ability to offer quality goods and equipment at globally competitive costs. With the support of procurement hubs such as the one in India, our procurement system will offer sustainable cost reductions to our customers through strategic sourcing and supplier integration," says Erik Wiik, Senior Vice President of Aker Kvaerner ASA.