The supply chain platform for the steel industry in Hebei Province has been in operation for over a month, significantly reducing the costs of upstream and downstream enterprises and promoting the transformation of steel enterprises from manufacturers to comprehensive service providers.

Through group buying on the platform, the cost of products such as bolts and fasteners purchased by enterprises has been significantly reduced. Chen Shaolong, the head of the Equipment Department of Tangsteel High Strength Plate Company of Hebei Iron & Steel Group, said that the platform has reduced the procurement cost of bolts and fasteners by 28%, and the procurement process has become more convenient, cost-effective and efficient.

Liu Zhiheng, the industrial product project manager of the Hebei Province Steel Industry Supply Chain Platform, explained that the platform has integrated orders from over a dozen steel mills, reducing costs such as transportation, sorting, and warehousing. After being evenly distributed among each enterprise, expenses have been saved.

During the trial operation period, the platform enterprises collectively purchased nearly 100 million yuan worth of spare parts and consumables. Among them, the overall price of fasteners was reduced by 28%, the overall price of process parts such as thermocouples and samplers was reduced by 22%, and the overall price of valves was reduced by 10%.

The platform not only reduced the procurement cost but also increased the sales volume. Liu Guotao, the sales director of Hebei Wanli High-Strength Fastener Manufacturing Co., LTD., said that after cooperating with the platform, the order volume has increased significantly, and the sales volume has grown by 20%. At the same time, large-scale purchases have saved logistics expenses, and the overall cost has been reduced.

At present, all steel enterprises in Hebei Province have joined the platform, covering over 15,000 upstream suppliers, more than 5,000 downstream customers, and over 60 cooperative financial institutions.

Zhang Longqiang, deputy secretary-general of the China Iron and Steel Association, said that the construction of the steel supply chain platform in Hebei Province is of great significance. It is conducive to the coordinated development of the industrial chain, promotes the transformation of Hebei's steel industry from a manufacturer to a comprehensive service provider, and continuously helps enterprises reduce costs and enhance competitiveness.