Tata Steel’s Jamshedpur plant bestowed World Economic Forum’s Advanced 4th Industrial Revolution Lighthouse Award
The World Economic Forum has named Tata Steel’s Jamshedpur Steel Plant as an Advanced 4th Industrial Revolution Lighthouse. Tata Steel is now one of the few companies with three manufacturing sites in the Global Lighthouse network, with the other two being Kalinganagar Plant in India and IJmuiden in the Netherlands.
Enno De Boer, Senior Partner at McKinsey & Company, and Francisco Betti, Head, Shaping the Future of Advanced Manufacturing & Value Chains, presented the award to T. V. Narendran, CEO & MD, Tata Steel, at the Global Lighthouse Network Dinner at the World Economic Forum in Davos.
The Global Lighthouse Network is a collection of manufacturing plants and other facilities that are world leaders in the adoption and integration of Fourth Industrial Revolution technologies (4IR). Lighthouses use 4IR technologies like artificial intelligence, 3D printing, and big data analytics to increase efficiency and competitiveness at scale, transform business models, and drive economic growth for all-sized manufacturers across all geographies and industries, all while augmenting the workforce, protecting the environment, and contributing to a learning journey.
The factories are chosen by an independent panel as part of the Global Lighthouse Network, which is a World Economic Forum initiative in collaboration with McKinsey & Company.
Tata Steel Jamshedpur’s journey from Asia’s first integrated steel plant to receiving this award is a testament to the company’s continuous improvement culture, ability to embrace change and stay on top of technological advancements, and focus on employee capability building.
“It is a proud moment for all of us at Tata Steel as the Jamshedpur plant joins the prestigious Lighthouse Network of the World Economic Forum along with our IJmuiden plant in Europe and the Kalinganagar plant in Odisha. This recognition is a testimony to the effectiveness of the organisation’s investments in state-of-the-art equipment and leadership in the use of advanced technology and analytics to drive financial and operational impact, making Tata Steel plants among the most advanced steel plants globally,”On the occasion, T. V. Narendran, CEO & MD, Tata Steel, said.
During the Covid-19 pandemic, Tata Steel took advantage of its previous investments in 4th Industrial Revolution technologies to ensure Covid-appropriate behaviour in operational areas and business continuity during lockdowns, all while continuing to adopt new ways of working.
Tata Steel has been on a multi-year digital-enabled business transformation journey, with the goal of becoming the leader in digital steel manufacturing by 2025. The Company intends to improve its digital maturity and stakeholder experience as a result of this process, as well as evolve its work practises to become more agile, insightful, and intelligent as an organisation.
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