ONGC has won the Silver Honour at the ET Government PSU Leadership & Excellence Awards 2025 for its Integrated Supply Chain Transformation initiative – elevating transparency, efficiency, and digital governance across its operations.
Market Intelligence Unit Powers Real-Time Procurement
At the initiative’s core stands the Market Intelligence and Design (MIND) Cell, India’s first unit dedicated to real-time procurement analytics, market benchmarking, and vendor risk assessment. This innovation marks a leap in ONGC’s strategic sourcing capabilities.
Centralized Procurement Unit Ensures Consistency
ONGC introduced a Centralized Procurement Department (CPD) to standardize procurement procedures across all business units. Along with a network of Nodal Technical Agencies (NTAs) for technical standardization, ONGC now achieves faster decision-making and streamlined compliance.
Strengthening Governance and Financial Discipline
To reinforce compliance and governance, ONGC introduced several reforms-
- A robust network of Nodal Technical Agencies (NTAs) for technical standardization and quality control.
- Legal and dispute resolution enhancements for improved transparency.
- The rollout of a Shared Finance System (SFS) – an integrated digital platform for budget planning, payments, and financial reconciliation – aimed at reducing operational silos and enhancing fiscal discipline.
These multi-pronged efforts signify a comprehensive redesign of ONGC’s procurement and supply chain management framework, aligning with the corporation’s vision of embracing automation, accountability, and innovation at scale.
Financial Controls Tightened with Shared Finance System
The firm implemented a Shared Finance System (SFS) to integrate budget planning, payment workflows, and reconciliation. By removing financial silos, ONGC reinforced fiscal discipline and accountability across divisions.
Governance Reinforced Through Legal Reforms
ONGC also overhauled its dispute resolution and legal frameworks, bolstering governance and compliance in procurement – underscoring its dedication to institutional integrity.
Enterprise-Wide Collaboration Drives Award Win
Under the leadership of ONGC’s Chairman and Director (Strategy & Corporate Affairs), the award celebrates cross-functional collaboration. The initiative spans procurement, finance, legal, IT, and technical teams pooling to elevate ONGC into a future-ready, innovation-driven PSU.
About ONGC
Oil and Natural Gas Corporation Limited (ONGC) is India’s largest hydrocarbon producer and a Maharatna PSU under the Ministry of Petroleum & Natural Gas. With operations spanning exploration, production, refining, petrochemicals, power, and renewables, ONGC is the backbone of India’s energy security, delivering one-third of national oil and gas output through a workforce of over 25,000 professionals.
