IOC sets up new department to streamline spending

Vol 7, PW 3 (23 Apr 03) News in Brief

Indian Oil is revamping its internal structure: one immediate result is the creation of a new clumsy-sounding 'Department of Optimisation'.

J.K Puri, an executive director who successfully oversaw the implementation of a SAP package at IOC, will head the new department.

Puri will report to IOC's director finance. The new department's job will be to oversee the 'Optimisation' of resources before deciding on investments; to carry out operations at least cost; and how to ensure 'Profit Maximisation'.

"We will be up and running in a month," a source reveals. Located within IOC's corporate office at SCOPE Complex in Delhi, the new department will see an additional general manager, three chief managers and other staff working on secondment.