March 28, 2024 | Procurement Strategy
In today's digital age, efficiency is paramount for businesses to thrive. Digitization offers a powerful solution, streamlining processes and unlocking a wealth of valuable data.
The procurement intake process, by which incoming procurement requests are evaluated, triaged and funneled through the appropriate workflow, is a prime candidate for this transformation. Often mired in manual tasks, incomplete information and scattered communication, a manual intake process breeds inefficiencies.
March 28, 2024 | Procurement Software
Surprisingly, many businesses continue operate without an efficient catalog management system. This absence creates a host of inefficiencies and risks that hinder their procurement team’s overall performance.
March 27, 2024 | Procurement Strategy
Intake management as a concept has recently come to the forefront in the procurement landscape as a foundational element of a smooth procurement process. It's about efficiently handling the incoming flow of requests for goods and services within an organization.
Here's a quick breakdown of what intake management entails:
March 27, 2024 | Supplier Management Strategy
Managing and optimizing supplier performance is critical as well as challenging.
For procurement leaders, supplier selection is not about finding the cheapest option. Suppliers may be invoicing within the agreed pricing, but if the service isn’t what is desired or if the goods are substandard, businesses will fail to drive optimal savings.
Enter supplier scorecards.
This case study explains how a leading telecom company benefited from highly competitive rates and saved millions of dollars by partnering with GEP to conduct eAuctions.
March 26, 2024 | Procurement Software
The global business environment continues to reel under uncertain economic conditions.
Many business functions have had to make sudden changes and alter their strategy to adjust to the economic slowdown and disruption-prone new normal.
While supply chain pressures have eased relatively in recent times, businesses can’t let their guard down and must stay prepared for potential disruptions.
They must act now and take steps to build agility and resiliency, especially for procurement and supply chain operations.
Download this valuable guide for strengthening the CFO-CPO partnership by leveraging AI-driven tools.
Generative AI tools, trained on large language models, are ready to disrupt.
GEP partnered with Everest Group on this webinar — Procurement Transformation in the Age of Generative AI — to dive into the evolution of generative AI and how it will impact procurement through use cases.
Learn how enterprises are exploring potential use cases of generative AI technology across the S2P value chain to leverage its creative capabilities.
Key Discussion Points
March 11, 2024 | Procurement Strategy
The United Sates, since 2022, is facing a diesel supply shortage. This is because of three reasons: disinvestment in refining capacity during the pandemic, elevated natural gas prices reducing refining margins, and limits on the export of refined products from the European Union to Russia following the Ukraine war.
March 11, 2024 | Procurement Software
Gone are the days when a business relied on verbal agreements (or even handshakes) to make decisions about purchasing goods and services.
Today, they are leveraging advanced technology and tools to streamline the purchasing process and keep track of organizational spend. This is vital as different functions within an enterprise make several purchases from vendors to meet their work-related requirements.
