Tata Steel’s new app namely FerroHaatTM app for sourcing steel scrap has infused superlative modus-operandi in the business.
Scrap sourcing facilitation measure
- The steel recycling business segment of Tata Steel has operationalized its FerroHaatTM app. It is a path-breaking measure whereby Tata Steel’s new app will provide a reliable e-platform to the national scrap market for sourcing the scrap metal.
- Being a 24×7 Live e-market platform, the captioned new app is expected to enrich the company’s values of trust, transparency, and business ease. The captioned app can be downloaded by the users from the Apple App Store and Google Play Store.
- Users of this new app will also get a plethora of value-added administrative features like Bazaar for the trail of business transactions, Khaata for a summary of the supplier’s account, Samachaar for keeping abreast with critical market information, and Abhaar for acknowledgment and feedback.
- The scrap market is highly volatile and the prices keep on fluctuating frequently. This keeps the traders on tenterhooks. The Tata Steel new app bridges this gap by keeping the trepidatious traders well informed on one hand and thus making them insusceptible on the other hand.
- The aforementioned characteristics of the new app were also echoed by Yogesh Bedi, Chief, Steel Recycling Business, Tata Steel. He expressed that the app synchronizes the traders with the existing scrap yards and thus ensures synergy of technological e-platform with stability in prices in a transparent manner.
- Further, the new app will digitize the scrap market which will shun the element of uncertainty to a greater extent while trading in the scrap metal. The ease of doing scrap metal business gets better and visible via this app.
- The press release of Tata Steel states that the company is going to establish a “state-of-the-art scrap processing plant of 0.5 MnTPA capacity in Rohtak, Haryana.” This obviously will be providing ample business opportunities to the local traders of scrap yards and car dismantlers in the NCR and Haryana region which can even be streamlined via using the company’s FerroHaatTM app.
The new app developed by Tata Steel is in tandem with PM Modi’s vision for digitized India and commitment for ensuring ease of doing business in the country.