Direct Materials Sourcing: New Tools, Fresh Approach
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
While some embrace cutting-edge tools like AI and blockchain for global trade functions, others lag in technology adoption.
A new GEP-sponsored SMI white paper — Rethinking Direct Materials Sourcing: The Tools You Need To Manage Costs, Risks and Sustainability — delves into the shifting dynamics of direct materials sourcing, addressing challenges and advocating for a strategic reassessment to drive operational enhancements and elevate job satisfaction in this evolving landscape.
Why Read This Paper
Overcoming Challenges
Lack of visibility and poor communication are among the roadblocks to direct materials sourcing
Balancing Requirements
Procurement needs to factor in cost, risks and sustainability goals when managing suppliers
Empowering Decision-Makers
The right platform is critical to revamping your approach to direct materials sourcing
Your Action Plan for Leveraging the Next Wave of Direct Materials Sourcing. Get It Now
About Us
GEP® delivers AI-powered procurement and supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value.
Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people — this is how GEP SOFTWARE™, GEP STRATEGY™ and GEP MANAGED SERVICES™ together deliver procurement and supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world’s best companies, including more than 1,000 Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals.
A leader in multiple Gartner Magic Quadrants, GEP’s cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters.
GEP is also regularly ranked a top procurement and supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in Clark, New Jersey, GEP has offices and operations centers across Europe, Asia, Africa and the Americas. To learn more, visit www.gep.com.
GEP SMART™ is an AI-powered, cloud-native software for direct and indirect procurement that offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE™ is a unified and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains.
Built on a foundation of big data, artificial intelligence and machine learning, GEP NEXXE is next-generation software that helps enterprises make supply chain a competitive advantage.