Business
ISMM signs MoU with Ministry of Industries as part of contribution to national endeavour
The Institute of Supply and Materials Management, the pioneer and government recognized institute for Supply Chain Management Education was established on October 24, 1972 and is the leading institute which fosters the professional development of the purchasing and supply chain function in Sri Lanka. It is a member of the Organization of Professional Associations of Sri Lanka (OPA) since 1976 and was incorporated by the parliament by Act No 3 of 1981.
The ISMM is affiliated to the International Federation of Purchasing and Supply Management, which is the world body encompassing 48 national associations, having more than 250,000 professionals engaged in Purchasing and Supply Chain Management. ISMM engages in many educational programs covering all aspects of the supply chain for the last two decades, in addition to conducting other professional short courses, adding more than 10,000 professionals to supply chain management in Sri Lanka.
ISMM, being the national institute enacted by Act Parliament for Supply Chain Professions in Sri Lanka has taken the initiative to sign a MOU with the Ministry of Industries to conduct a national programmes on resilient and sustainable Supply Chain Management for Industries in Sri Lanka. Under this initiative there will be two programmes:
a. One year consultation program on “resilient and sustainable Supply Chain Management for 30 x Industries”.
b. 03 x One day workshops on “how to achieve competitiveness in local and global markets through strengthening supply chain capabilities of Sri Lankan Industries”.
The inauguration ceremony for above programme along with the conduct of an awareness session and first knowledge sharing workshop was held on June 7, at the Western Province Aesthetic Resort, Colombo 07. Secretary, Ministry of Industries, Shantha Weerasinghe, graced this occasion as the Chief Guest. Jayantha Gallahewa, president ISMM, Chaminda Pathiraja, Additional Secretary, Ministry of Industries, Sarath Gamage, President OPA / Immediate Past President ISMM, Maj Gen Renaka Udawatta (Rtd), Vice President ISMM, Lilantha Subasinghe, Vice President ISMM, Dr. (Eng.) Sanath Divakara, General Secretary ISMM, Ms Kunalini Subramanium, Assistant Director, Ministry of Industries, Priyanga Kirihena, Council Member ISMM were among the other officials who participated in the ceremony. As a part of the inauguration ceremony, the signing of the MoU took place at the same venue under the patronage of the above dignitaries and participants from the 30 industries.
Supply Chain Management (SCM) is the optimization of a product’s creation and flow from raw material sourcing to production, logistics and delivery to the final customer. In other words, it is the management of the flow of goods, data, and finances related to a product or service, from its origin (Nature) to the delivery of the product at its destination. SCM encompasses the integrated planning and execution of processes required to manage the movement of materials, information and financial capital in activities that broadly include demand planning, sourcing, production, inventory management and storage, transportation or logistics and returning excess or defective products.
Aim of the Project: To enhance the supply chain management capabilities of Small and Medium-sized Enterprises (SMEs) in Sri Lanka, fostering efficiency and effectiveness in their operations to ensure sustainability.
Scope of the Project: Sharing knowledge on supply chain management, evaluation processes (before and after), conduct workshops, participant assessment, monitoring and evaluation of progress, Field visits, gap identification, and preparation of comprehensive reports for individual SMEs.
Objectives of the project:
The primary objective is to empower SMEs by improving their supply chain management processes and practices, ultimately contributing to their sustainable growth and success in the local and international market. (To reduce waste, costs by improving supply chain management processes and practices, ultimately enhancing the profitability and sustainable growth of Sri Lankan SMEs).
The secondary objective is to Improve the capabilities of the individuals on managing supply chain functions in effective and efficiently.
Direct benefits
Direct benefits are; minimize cost of operations by reducing waste and improving efficiency/productivity of supply chain process, awareness on best practices/standards on supply chain management, Improve networks and relationships with industry experts, awareness on current trends in supply chain management, improve leadership qualities on supply chain decision making.
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Rivon Agriglobe and Rivon Lanka, affiliated with Celogen Lanka, Assidua Technologies and Kelun Lifesciences, have introduced ZETOR and Agriglobe tractors, the Z-Tukoba power tiller and Rover electric motorcycles to the Sri Lankan market.
The new range was launched at a special event held on September 4 at the Sannasa Hotel in Dambulla, attended by more than 120 dealers from across the country.
The event was graced by Nalin Welgama as Chief Guest, together with Rishi Kumar, Managing Director; WH Roshan, Finance Director; Sadish Kumar, Director; Sumith Nandana, General Manager; Suresh Dhammika, Head of Sales; and Jayasuriya, Operations Manager.
The agricultural machinery range includes the 50-horsepower ZETOR HORTUS 50 and Agriglobe 50 tractors and the Z-Tukoba power tiller, offering what the company described as European-engineered technology for Sri Lankan farmers.
The launch also featured the recognition of Rover E-Bike dealers, highlighting the company’s efforts to expand its island-wide dealer network and promote electric mobility.
The companies said the new models would be available through their growing dealer network across Sri Lanka, providing customers with access to agricultural machinery and electric motorcycles.
Buttler out of Oval decider as Lawrence earns ODI call-up
Showers will occur in the Western, Eastern, Uva and Sabaragamuwa provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts.
Nor’easter brings flooding as New York and New Jersey declare emergency 2 hours ago
Trump rejects Iran deal to reopen Strait of Hormuz in seven days
Govt plans to hire 121,000 state workers, redistribute tax revenue
Parliament clears 22A amid protests
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News4 days agoMastermind Naufer Moulavi among 15 found guilty
-
News6 days agoHatton youth protest against reported death sentence for Lankan in Saudi Arabia
-
News5 days agoProtest against setting up of cement factory in highly populated area near BIA
-
News6 days agoMahaweli rises as heavy rain triggers flood, landslide fears
-
Latest News7 days agoLandslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya
-
Midweek Review4 days agoThileepan’s fast unto death: An authentic narrative that many missed
-
Editorial4 days agoBig Bad Bills
-
Latest News3 days agoShowers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara Districts