Morocco’s phosphate company OCP Group has appeared among the finalists of the 2021 Franz Edelman Award, the company announced today, January 18.
The Franz Edelman Award decorates every year one company from around the world for its contributions in the fields of advanced analytics, operations research, and management science.
The competition’s jury selected OCP Group for successfully using advanced analytics and optimization algorithms to transform its entire production and supply chain. The optimized processes have led to increase the company’s annual profits by $400 million, OCP’s press release said.
OCP Group invested $20 billion over the past 10 years in order to update and optimize its processes. The investments have allowed the company to double its mining capacity, triple its fertilizer production capacity, and set up several distinctive industrial assets, such as the slurry pipeline—a specially engineered pipeline used to move minerals.
OCP Group also earned the nomination for the Franz Edelman Award for establishing a Business Steering Group in charge of optimizing operations, marketing, and supply chain activities.
The initiatives that the Business Steering Group launched over the past decade allowed the company to explore how every part of the supply chain affects others and to understand the limitations of infrastructure.
“Through a collaborative approach, the Business Steering Group contributed significantly in breaking silos and setting up a culture of innovation, entrepreneurship, and collective intelligence,” the press release said.
“Advanced analytics and innovation now sit at the heart of OCP and underpin its strategy and vision,” the document added.
OCP Group appeared alongside several world-renowned companies on the list of the Franz Edelman Award, such as Alibaba, Amazon, JD.com, Lenovo, and the UN World Food Programme.
“It is a great honor to be named as a finalist for the prestigious Franz Edelman Award alongside an esteemed list of multinational companies,” commented Nada Elmajdoub, OCP Group’s executive vice president for performance management.