Integrated Procurement Systems: A Comprehensive Guide

November 16, 2024 | Procurement Software

Today, efficient and effective procurement is more critical than ever to the success of global enterprises. Integrated procurement systems (IPS) have emerged as powerful tools to help companies streamline procurement processes, reduce costs and improve overall performance.

To take advantage of these advanced systems, however, you need to understand what they are and how they unlock procurement value.

Challenges of Corporate Procurement (And How Technology Can Overcome Them)

November 16, 2024 | Procurement Strategy

Let's face it, corporate procurement can be stressful. It can feel like a never-ending cycle of RFPs, negotiations, and contract management. Procurement teams often struggle with rising raw material costs, complex regulations and compliance challenges. Limited visibility into the supply chain, inefficient processes and manual tasks add to their woes.

If any of these challenges resonate, you're not alone.

Why Procurement Is the Key to Effective Healthcare Contract Management

November 16, 2024 | Procurement Strategy

Effective contract management is essential for any enterprise, and for healthcare organizations, it’s even more so. With the intricate web of provider agreements, payer contracts, pharmaceutical deals and vendor agreements, procurement teams at healthcare organizations face a multitude of challenges in ensuring compliance, optimizing costs and mitigating risks.

Strategic Vendor Sourcing: Best Practices for Cost, Risk and Sustainability

November 16, 2024 | Procurement Strategy

Every procurement team has its go-to list of vendors — the suppliers who consistently deliver quality, offer competitive prices and simplify the purchasing process.

These strong partnerships aren’t accidental; they are the outcome of deliberate selection, effective communication and a sustained focus on building value over time.

Strategic vendor sourcing is a crucial practice that transforms this process from guesswork into a structured, repeatable approach.

Vendor Spend Analysis: A Strategic Approach for Sustainable Growth and Operational Efficiency

November 16, 2024 | Cost Management

Selecting the right vendors is critical to business success. A well-chosen vendor can drive operational efficiency, contribute to growth and improve profitability. In contrast, a poorly performing vendor can become a liability—leading to cost overruns, quality issues and lost opportunities. To avoid these pitfalls, businesses must engage in vendor spend analysis.

Vendor spend analysis involves a thorough review of supplier-related expenditures to evaluate their impact on a company's performance.

How an American Retailer Saved $25M on Packaging Through Strategic Sourcing Powered by GEP

Read more about How an American Retailer Saved $25M on Packaging Through Strategic Sourcing Powered by GEP

Managing procurement can be a costly headache, especially when dealing with a fragmented supplier base and hundreds of redundant SKUs. A leading $16 billion U.S. supermarket chain faced exactly that — until GEP stepped in.

Read this case study to find out how GEP helped the retailer cut costs significantly and transformed its procurement. With GEP’s help, the company reduced suppliers by more than 60% and eliminated more than 400 SKUs.

What’s Inside:

GEP Recognized as a Leader in Source-to-Contract Services

Read more about GEP Recognized as a Leader in Source-to-Contract Services

Everest Group has named GEP a Leader in the 2024 Source-to-Contract (S2C) Services PEAK Matrix® Assessment, highlighting our ability to help enterprises achieve procurement excellence.

GEP Named Leader and Star Performer in 2024 Procurement Outsourcing Services

Read more about GEP Named Leader and Star Performer in 2024 Procurement Outsourcing Services

GEP has been recognized as a Leader and a Star Performer in the 2024 Everest Group Procurement Outsourcing (PO) Services PEAK Matrix® Assessment, reaffirming our leading position in procurement transformation.

GEP Inducted Into Spend Matters Hall of Fame

Read more about GEP Inducted Into Spend Matters Hall of Fame

GEP has been inducted into the inaugural Spend Matters Hall of Fame, a prestigious honor for companies who have consistently appeared on the "50 Providers to Know" list for over a decade.

Empowering Category Managers Through Practical AI

Read more about Empowering Category Managers Through Practical AI

Category managers face stiff headwinds, including a lack of visibility into spending and cost control challenges. Nearly half of all senior procurement professionals believe data-related issues are impeding category management efforts, according to Procurement Leaders’ research.

For strategies to better align category management with broader business objectives, download this report — Empowering Category Managers Through Practical AI.

What’s Inside:

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Integrated Procurement Systems: A Comprehensive Guide

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Challenges of Corporate Procurement (And How Technology Can Overcome Them)

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Why Procurement Is the Key to Effective Healthcare Contract Management

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Strategic Vendor Sourcing: Best Practices for Cost, Risk and Sustainability

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Vendor Spend Analysis: A Strategic Approach for Sustainable Growth and Operational Efficiency

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