Bhubaneswar, Odisha 14/12/2024: In a shift towards mobile-first solutions, Vedanta Aluminium aims to incorporate additional app-based features into its Metal Bazaar platform, allowing buyers to carry out most transactions directly from their smartphones. Chief Marketing Officer Alok Ranjan also announced that the platform will introduce price risk management tools to enhance the user experience.
Having already initiated hedging on its platform, Vedanta Aluminium is ahead of the curve in the electronic space. As the company looks to the future, it plans to expand its services into a 360-degree solution that integrates financing and logistics, adding even more value for its clients.
Vedanta Metal Bazaar (VMB) is looking to harness its in-house expertise for further growth. At the same time, Vedanta supports numerous start-ups through the ‘Vedanta Spark’ initiative, focused on improving the productivity of innovative companies.
Ranjan emphasized that the next step is to figure out how to make this functionality accessible to all customers through the platform, a task still in progress.
VMB offers solutions that are tailored to meet the specific needs of customers, and as Vedanta, India’s largest aluminium producer, continues to grow, it will leverage the online platform for further evolution. Vedanta Metal Bazar is playing a pivotal role in changing the purchasing habits of small and medium enterprises (SMEs).
Vedanta Metal Bazaar (VMB) has made significant strides since its launch in early 2024, quickly becoming a transformative platform for small and medium enterprises (SMEs) in the aluminium industry. In just six months, SME utilization of the platform has risen by 35%, while active users have grown by an impressive 240%. VMB’s key differentiator is its direct access to aluminium, free of purchase limits or caps, and the removal of third-party intermediaries, which is a game-changer for SMEs looking to streamline their procurement processes.
Designed with the specific needs of SMEs in mind, VMB eliminates the traditional complexities and time-consuming steps involved in aluminium sourcing. The platform’s one-stop solution allows businesses to focus on growth rather than dealing with procurement challenges. VMB empowers users with greater control, transparency, and efficiency, helping them save valuable time and resources in their purchasing decisions.
VMB is also closely aligned with India’s push for digitization, contributing to the Digital India initiative by offering instant ordering, price locking, and real-time shipment tracking. These features simplify the traditionally complex sourcing methods and help businesses access high-quality aluminium products seamlessly. As a result, the platform is driving a major shift towards more agile and efficient procurement strategies among SMEs.
With additional features like LME hedging, financial reporting through its ledger system, and live shipment tracking, VMB is enhancing transparency and offering real-time insights into transactions. Since its launch, the platform has generated over 150 leads, including export opportunities. Vedanta plans to expand the platform globally, as the response has been overwhelmingly positive. With 500 unique daily users and a high return rate for repeat product searches, VMB is playing a key role in increasing Vedanta’s market share and productivity while supporting India’s growing demand for aluminium across various industries.
