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Metalloinvest identifies winners of 'Idea for a Million' corporate innovation competition

23 May 2018

Metalloinvest has announced the results of the first edition of its 'Idea for a Million' corporate competition, aimed at involving as many Company employees as possible in creating ideas to improve business processes.

The competition was held as part of Metalloinvest's Industry 4.0 comprehensive business transformation programme at the initiative of Ivan Streshinsky, Chairman of the Company's Board of Directors.

The competition prize fund amounted to 4.8 million roubles, and winners received their awards during Metalloinvest's 'IT-2023 Transformation' strategic session.

Over six months, employees at all of the Company's enterprises have developed innovative ideas that could have a positive impact on the development of business processes. In total, 288 ideas were submitted to the competition. The expert jury required seven meetings to choose the best submissions and draw up a shortlist of winning entries.

Yuriy Gavrilov, Strategy, Development and Transformation Director, Management Company Metalloinvest, commented: "The search for unorthodox ideas is a driver of successful business development. Implementing innovative concepts and technologies is essential to ensure the maximum efficiency in implementing the Company's business strategy. Thanks to the 'Idea for a Million' competition, we have managed to create an 'intellectual bank', enabling us to support our talented and creative-thinking employees."

First place in the competition was awarded to two employees: Alexander Ignatov (Mikhailovsky GOK) for his idea 'Optimising Warehouse Logistics and Improving Efficiency of the Annual Inventory Process' and Oleg Laktyushin (Management Company Metalloinvest) for 'Organising an Electronic Trading Platform for Steelworkers and Suppliers'.

Second place was given to two Mikhailovsky GOK employees. Maxim Yevlanov proposed introducing electronic cards for occupational health safety, while Alexander Lipatov's submission was entitled 'Electronic Signatures in Internal and External Document Flow'.

Three submissions were awarded third place: Nikita Putilin and Vadim Utyamishev's entry (Ural Steel) on the automation of device operation and filing and revision control; Pavel Timofeev's submission (Lebedinsky GOK), 'Application of KPIs at All Levels of Enterprises'; and Stanislav Patushinsky's proposal (GSA Group), 'Use of Group and Block Train Rail Shipments To Achieve Tariff Discounts for the Steel Segment'.

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