1. What is the USP of your brand? What distinguishes you from the competition?
Creating Everlasting Relationships is the USP of the brand and the company. The desire to deliver superior quality products is the result of this USP. Continuous research and development, adopting new technologies and uncompromising thrust on quality are some of our distinct marks.
One key aspect that distinguishes us from several of our competitors is our integrated steel plant. Our ability to directly source raw materials from various sources worldwide and process them in different stages gives us the flexibility and power to control the quality of the product and deliver higher standards.
2. What do you think are the top three challenges faced by your industry, and how can they be overcome?
Availability of Raw Material
The steel industry heavily depends on iron ore availability and other raw materials. As a result, the demand for these materials is expected to increase, leading to potential supply chain disruptions and price volatility. The industry can focus on diversifying its raw material sources, exploring alternative sources of iron and steelmaking materials, and investing in new technologies that can extract metals from unconventional sources.
Environmental Sustainability:
Unsurprisingly, the steel industry is a significant contributor to global greenhouse gas emissions. Steel production involves high energy consumption and releases substantial amounts of carbon dioxide and other harmful pollutants. However, the industry can adopt more sustainable practices, like using renewable energy sources, improving energy efficiency, and developing new technologies to reduce emissions. The development of carbon capture and storage (CCS) technology can also help minimise steel production’s carbon footprint. At Pulkit, we have pioneered alternative methods to power our plants, making us one of the most environmentally sustainable companies.
Cost Competitiveness:
The steel industry faces intense competition from low-cost producers, especially from China. This has led to a decline in prices and profit margins for steel manufacturers in other parts of the world. As a result, the industry must adopt innovative technologies and processes that reduce production costs while maintaining product quality to remain competitive. This includes automation, digitisation, and process optimisation, which can increase efficiency and productivity.
3. What are the top technologies you plan to work on in 2023?
Director & CEO
The steel industry needs to adapt faster to developing technologies. At Pulkit, we are taking giant steps in upgrading and digitising our systems and processes. One of the key areas we have identified is data analysis.
Data analysis can help us improve our process efficiency, reduce costs, and enhance product quality. For instance, we can predict when maintenance is required by analysing data from sensors and equipment, reducing downtime and maintenance costs. Predictive maintenance can also prevent equipment failures and optimise the lifespan of assets.
It can also help us monitor and control the quality of our products. By analysing sensor data, manufacturers can identify potential defects early in production, reducing waste and improving product quality. In addition to this, it can help us optimise our production process by identifying inefficiencies and bottlenecks.
Most importantly, it can give us deep insights into customer preferences and needs. By analysing data from sales, customer feedback, and social media, we can develop products and services that meet customer needs and improve customer satisfaction.