South Korean steelmaker Daehan Steel Co. has signed an agreement with the US IT giant IBM to embark on the second phase of the company's enterprise-wide business transformation project. The first phase was carried out by IBM as well.
According to a press release by IBM, the business transformation project is part of Daehan Steel's enterprise-wide innovation strategy to support the future growth of the company as "a total steel solution provider" focused on the fast-growing rebar manufacturing business.
During the six-month business model and process reengineering project, IBM will support the establishment of a contract management system, standard cost management, supply chain management (SCM), operation system, enterprise resource planning (ERP) system, pricing strategy planning and diagnosis of information technology operations.
"We have selected IBM to be our strategic innovation partner because of its strong track record in helping many leading companies transform their business models and processes," said Daehan Steel's vice president Chi-hun Oh.