December 04, 2024 | Energy & Utilities
Geothermal energy is a form of renewable energy generated from the heat stored beneath the earth's surface. It has substantial potential in various regions, particularly in areas with active tectonic and volcanic activity.
Some countries, like the U.S., Indonesia, Philippines, Turkiye, New Zealand, Mexico and Kenya have tapped into this potential, utilizing geothermal power plants for electricity generation.
December 02, 2024 | Procurement Strategy
As sustainability becomes a core business imperative, the circular economy model offers a groundbreaking shift, especially for procurement. It challenges the traditional linear approach of "take, make and dispose" and proposes a sustainable strategy focused on resource efficiency, waste minimization and recycling.
With packaging materials, this shift is especially significant, because it allows procurement leaders to play a critical role in sourcing and value creation through sustainable practices.
December 02, 2024 | Oil and Gas
If you’re managing a fleet or any fuel-dependent operation, you know one thing for sure: fuel isn’t just an expense; it’s a lifeline. But are you still handling fuel procurement the old-fashioned way?
Calling suppliers, haggling over prices, and crossing your fingers that you’re getting a good deal? It might be time to rethink your strategy. Let’s discuss how modern procurement tools can take this crucial process to the next level.
December 02, 2024 | Procurement Strategy
Following a defined purchase requisition process is crucial for efficient and effective spending. While there isn’t a single way to initiate this process, having a structured system in place is essential for smooth, well-controlled purchases.
Let’s discuss how to get the purchase requisition process right.
December 02, 2024 | Procurement Software
Midsize companies can grow quickly. Rapid growth also means that they have some unique procurement challenges. As many of these companies look to scale quickly, their procurement requirements are more varied than others.
However, continued reliance on manual processes and tools makes their procurement processes inefficient. This keeps human resources engaged in routine tasks as well as increases costs, errors and risks.
December 02, 2024 | Cost Management
As we dive into 2025, procurement and supply chain leaders must navigate a rapidly evolving landscape shaped by economic stabilization, technological breakthroughs, and rising sustainability demands.
The GEP Spend Category Outlook 2025 provides actionable insights into these trends, helping organizations prepare for the opportunities and challenges that lie ahead.
December 02, 2024 | Procurement Strategy
Procurement payment terms are often overshadowed by headline-grabbing aspects of supply chain management, but their importance cannot be overstated. These agreements govern the flow of funds between your company and its suppliers, directly influencing cash flow, supplier satisfaction and long-term financial performance.
By understanding the intricacies of these terms, procurement professionals can go beyond traditional cost-cutting.
November 25, 2024 | Procurement Software
As a procurement professional, how often do you engage in performance management? What are your key performance indicators or KPIs? Which ones are the top priority and how do you measure them?
After all, if you cannot measure it, you cannot improve it.
For some organizations, cost efficiency may be the biggest priority. For others, risk management can be the number one KPI amid prevailing economic uncertainty. For many in both these categories, achieving sustainability can mean successful performance.
November 22, 2024 | Oil and Gas
The energy landscape is rapidly shifting, and the impact is already visible across key value chains. As the world moves towards renewable energy and away from fossil fuels, there is a growing necessity for traditional oil and gas contractors to adapt to remain relevant.
Global renewable electricity generation is projected to exceed 17,000 TWh by 2030 , representing an increase of nearly 90% compared to 2023. Forecasts by the IEA also suggest that in 2025, renewables-based electricity generation will overtake coal-fired generation, marking a significant milestone.
