Indian Railways renews MoU with ISB for capacity building & research

‘Indian Railways can meet both customer expectations and organisational goals with the help of proper training and introduction of new technologies’

Indian Railways renewed its Memorandum of Understanding (MoU) with the Indian School of Business (ISB) to collaborate in capacity building and research and exchanged agreements for establishing Centre of Excellence for Artificial Intelligence & Data Analytics and an Integrated coal-freight optimization model to increase network throughput on Wednesday.

South Central Railway’s principal chief operations manager K. Shiva Prasad, principal chief mechanical engineer S.K. Jain and principal chief personnel officer Rajeev Kishor signed the pacts in the presence of General Manager Gajanan Mallya with ISB’s deputy dean Milind Sohoni, at the Rail Nilayam.

“ISB provides a better way to step forward in enhancing the working system of the organization. The time has come for the application of theoretical advances made in DA & AI to make the organization more effective,” said Mr. Mallya.

Indian Railways can meet both customer expectations and organisational goals with the help of proper training and introduction of new technologies from the management institute with optimal utilization of its resources for enhancing productivity, he observed.

“We would like to bring in new thoughts, business knowledge, and expertise to partner the IR in its transformation journey. With the culmination of these projects, ISB is really excited to work with the elite organization,” said Prof. Sohoni.

The MoU renewed for the next three years broadly envisages co-operation and engagement between the two entities’ towards research and knowledge sharing covering the following aspects: Leadership lecture series by faculty from ISB on leadership, strategy management, negotiations skills, change management etc., which are critical for the railway officers; capacity building workshops to train and update officers of SCR in areas like performance management, strategy management, change management etc., encompassing various topics as infrastructure, project management, customer relationship management, operations, revenue management, innovations etc.

The agreements also mean undertaking collaborative research in brand capitalization, customer satisfaction, operational efficiency, business innovation and so on which impact the efficiency and service delivery.

With regard to DA and AI centre, the projects for improving operational efficiency will have training modules for cloud computing, data science, analytics, forecasting and prediction. ISB will also help identify the best global practices in these areas.

For the integrated coal – freight optimization model, the focus is on the assessment of coal movement demand over the short horizons to match supply and demand, as 50% of the freight revenues are contributed by it. It would assess demand and supply models, rationalising routes and schedules of loaded rakes to improve freight carrying capacity, a press release said.

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