The media and entertainment industry is almost unrecognizable from what it was a decade ago. Its very definition of success has shifted dramatically. Technology — starting with the smartphone, which created demand for content that could be accessed anytime and anywhere — was the catalyst that changed the relationship of consumers to content and compelled the venerable media giants to start transforming their business models.
Integrated Thinking : A Creative Approach to Media Strategies
In the past few years, mergers & acquisitions have consolidated control of major franchises and networks, and vertical integration across platforms and content is the new competitive advantage. At the same time, audiences have fragmented and become “channel-agnostic”; it no longer matters which carrier, service or platform we use, because there’s always something “on” and available for consumption.
Procurement in the Media and Entertainment Industry
All of these trends have tremendously impacted industry profitability and will continue to do so. To sustain growth and competitiveness in such a challenging environment, enterprises need all hands on deck. Procurement in media, entertainment and communications companies has to play its role in creating sourcing and buying solutions that create efficiency and help drive growth.
In the media and entertainment industry, procurement teams face the challenge of a dynamic marketplace, driven by services and technology, to support the development of leading-edge content and experiences and meet volatile customer preferences. Procurement pros must focus on issues like:
- Do we have the right partners who understand our industry challenges?
- Have we structured our deals to optimize value, assure supply, and manage our risks appropriately?
- Do our partners enable us to gain competitive advantage in the marketplace through innovation, speed to market and cost efficiencies?
- Do we get the best strategic and creative thinking from our partners to drive value in our business and help us stay ahead of our competition?
- Is our intellectual property well protected?
- Do our partners help us leverage new and emerging technologies, data and research to drive our business forward?
Delivering Results with World-Class Procurement
With nearly two decades of experience working with Fortune 500 and Global 2000 enterprises — including the world’s largest media and entertainment conglomerate — GEP provides a comprehensive range of procurement and supply chain solutions for global media, entertainment and communications enterprises. As a recognized global leader in procurement and supply chain transformation, GEP combines strategic thinking with innovative technology to provide solutions that deliver game-changing business outcomes.
GEP delivers a competitive edge to its clients with programs that focus on dramatic upgrades to capability as well as value creation. With end-to-end procurement consulting services, including our own source-to-pay platform, we strive to provide proactive advice, insight, resources and value. We have the expertise, the tools, and the technological fluency to create as well as implement strategies that rapidly deliver tangible, sustainable results.