GEP Content

8 Benefits of Procurement Technology Tools

Oracle

Spend Matters welcomes this guest post from Anisha Khushlani, a senior consultant at GEP.

A wide variety of industries are adopting technology to automate supply processes, bringing significant bottom-line benefits to companies by allowing greater productivity, visibility and cost efficiency. At a high level, e-procurement provides the opportunity to increase efficiencies in business transactions and enhances negotiation leverage for firms. Use of technology is one of the key metrics used by benchmarking firms to measure maturity of procurement organizations. So, it’s important to find the right tool and reap the benefits.

Advances in Neuromarketing and Your Buying Decisions: What Can’t Speak Can’t Lie

Spend Matters welcomes this guest post from Diarmuid O’ Donoghue and Khusboo Kadmawala, of GEP.

Do you really think that you make your own buying decisions? I urge you, think again. As several recent experiments from the field of neuromarketing illustrate, your own subconscious thoughts and desires may actually speak louder than your rational thoughts.

Viva La Revolution: Flexible Staffing Models in China

Tradeshift Baiwang

Spend Matters welcomes this guest post from GEP.

As the world's most populous country, China's labor market is undergoing unprecedented structural revolution. In recent years, due to labor shortages caused by a decreasing demographic pool and labor cost pressures, Chinese companies are eager to adopt more flexible staffing models to maintain labor agility and cost competitiveness. As per the Chinese Human Resource Service Industry Research Report published in 2016 by HRoot, it’s estimated that between 2016 and 2020, the average compound annual growth rate of China's flexible staffing industry will hold steady at around 22%, and China's flexible staffing market scale will reach about 60 billion yuan, which is more than $8 billion.

Strategies Every Procurement Professional Should Know to Reduce Inventory Levels and Cost

warehouse

Spend Matters welcomes this guest post from Ana Sofia Gómez, a manager at GEP.

In an organization, the challenge for optimizing costs goes beyond getting the best prices in the market through the procurement function. The challenge also involves implementing strategies, or acquiring added values and services that allow the organization to improve their process administration and get benefits from those improvements. With manufacturing companies, one area of opportunity is inventory management.

Don’t Lose Your Shirt: American Apathy to Reshoring

Made in USA

Spend Matters welcomes this guest post from Oliver Everhard, an associate with GEP.

For decades, conventional wisdom has said that anything you can manufacture offshore — in particular, less skill-intensive products like clothing — will end up costing your company less. From a cost perspective alone, this is likely true. Yet “reshoring” — the process of bringing manufacturing back into the United States — has become an increasingly popular option for American companies.

IT Procurement: Strategic Calibration of Software Suppliers

IT

Spend Matters welcomes this guest post from Imaad Musvee, an associate consultant at GEP.

For many Fortune 500 organizations, the number of software suppliers leveraged each year is increasing rapidly. This post discusses how this trend may be a sign of cost inefficiencies and then proposes a few strategies that procurement can use to overcome these constraints.

Procurement Value Drivers

Spend Matters welcomes this guest post from María Cecilia Siqueira, of GEP.

Formerly known as a tool for cost reduction, procurement is now changing the business game. The market’s fast pace and global competition has forced some critical transitions in companies’ structure, strategy and execution. As Klaus Schwab, chairman of World Economic Forum, puts it, “Nowadays, it is no longer the big fish that eats the small fish — it is the fast fish the eats the slow one.”

Is Sourcing Forklift Trucks Easier than Sourcing Cars?

warehouse

Spend Matters welcomes this guest post from Nitin Khandelwal, of GEP.

Forklift sourcing isn’t as complex as it seems (especially when we compare it with fleet), but there are a variety of factors that should be considered to ensure that you contract the right supplier.

How Can Procurement Help in Making a Sport Franchise Profitable?

Spend Matters welcomes this guest post from Deepesh Jethwani, consultant at GEP.

If you had a genie in a magic lamp and you were allowed three wishes, what would they be? For me, owning a professional sports team or franchise would be right on top of that list. I have been following cricket, football and tennis since my childhood, and the prospect of owning Manchester United, Mumbai Indians or Indian Aces is exciting enough to dream about. Have you also wondered about the cost of owning a professional sports team? This blog is an attempt to identify those costs and to understand how a professional sports franchise can limit costs wherever possible.

Why It’s Important for Logistic Category Managers to Be the Gateway to Emerging Disruptive Technologies in the Marketplace

trade

Spend Matters welcomes this guest post from Rodrigo Sánchez, consultant in strategy and operations management at GEP.

Procurement strategies aim to identify the service providers that can offer the products and services an organization requires at the most competitive prices. At the same time, they also need to meet the requirements established by the different departments across the company. Logistics, however, defines the strategy that will allow companies to move raw materials into manufacturing plants and distribute its finished goods across its supply chain. And all of this aims to be cost efficient. So how is it possible for procurement to identify additional opportunities for logistics, since it does not own the logistics strategy?

How Trump’s NAFTA Threats Could Be the Dynamism Mexico’s Local Supply Base Has Been Craving

Spend Matters welcomes this guest post by Ana Gomez, senior associate at GEP.

During the presidential campaign, Donald Trump threatened to renegotiate the terms of the North American Free Trade Agreement (NAFTA). This has generated much uncertainty for companies in Mexico that for many years have exchanged raw materials and finished products without the payment of certain tariffs. According to some economists, the NAFTA, signed in January 1994, has benefited Mexico to a greater extent related to the import and export of raw materials and finished products.

Blockchain Technology & The Reformation of Procurement as We Know It

Spend Matters welcomes this guest post from Thomas Cherian of GEP.

The reality of blockchains becoming the basic building block of tomorrow’s connected world is fast approaching. According to some, that day has already arrived. A lot has happened over the past year regarding the revolutionary concept of blockchains, which are expected to store an estimated 10% of global GDP in its network over the next decade.