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Alex Zhong, Director Product Marketing at GEP. GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization.
Many factors need to align for an organization to be able to source materials, produce a product and put it in the hands of customers. Of the professionals surveyed, 59% saw the gap between procurement/sourcing and supply chain to be a major disconnect, and the most pressing pain point.
Source: J.P. Morgan Global Manufacturing PMI compiles data from S&P Global and other sources from countries across the globe and weighs the countries based on annual manufacturing value added. But for now, let’s take a look at the most recent and relevant macroeconomic indicators to look for insights.
Media sources are filled with prognostication. However, GEP And S&P Global publish the GEP Global Supply Chain Volatility Index based on data derived from S&P Global’s PMI surveys. The end of the calendar year is sure to bring about predictions about the year ahead.
In response to these challenges, a leading heavy equipment manufacturer selected GEP to redesign its source-to-contract processes and implement a convergent data model to help manage procurement data across its multiple locations.
Despite their best efforts, current events and market dynamics caught up with them, leading to issues managing their suppliers and sourcing the materials needed for their products. If nothing else, the last few years highlighted the importance of sourcing strategically. Alex Zhong is Director of Product Marketing at GEP.
Experts from North Carolina State University and GEP conducted a survey on supply chain, procurement and IT leaders to determine their challenges and priorities, focusing on examining gaps in the supply chain. Alex Zhong is Director of Product Marketing at GEP.
You need to have a system that allows you to connect data sources, leverage actionable intelligence to enable the enterprise to capture all emissions scopes and other environmental and ESG metrics, and establish and execute on Scope 3 emissions reduction and reporting goals. Alex Zhong is Director of Product Marketing at GEP.
SCCN suppliers like Emerge, GEP, and Coupa provide good network visibility to procurement; solutions from FourKites and project44 provide visibility to shipments; and solutions from Interos or Eversteam Analytics provide visibility to new risks in almost real time.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
Introduction to Strategic Sourcing. . Using a unified platform, organize the processes of proposal gathering, vendor selection, bid comparisons, approval procedure, transactions, financing, and transportation tracking and management (Gep, 2021). . Thank You | GEP. Retrieved from Future of Sourcing: [link]. 2021, 10 21).
A new study that the SCRC published with GEP examines the increasing pressure that supply chain executives are getting when it comes to responding to supply chain disruptions. The report was published in the last month, and reflects some of the increasing challenges and disparities that exist between procurement and supply chain executives.
They are also exploring new warehouse designs that promote sustainability, such as using renewable energy sources and optimizing natural lighting. How to Build Supply Chain Resilience Without Sacrificing ESG Goals or Inflating Costs – SPONSOR CONTENT FROM GEP.” link] , [link] Accessed 10 March 2023. Padgaonkar, Pranav.
This system gathers and analyzes information from the previous and current sources to provide a detailed overview report. The cloud deployment model is mostly acquired by organizations that either want reduced customized solutions or fast implementation in less operational costs. Sigma Systems, Coupa Software Inc.,
A Fortune 500 CPG company partnered with GEP to improve end-to-end category management, optimize direct spend categories, and increase strategic focus on tail spend. The result was a year-over-year savings of more than 3%. This is essential reading for all procurement and supply chain leaders.
This White Paper, written by Dr Michael Lamoureux, Editor of Sourcing Innovation and a contributor to Spend Matters, is an introduction to tail spend and tackles some of the most important questions such as: What is tail spend? Sourcing Innovation – Dr Michael Lamoureux. GEP – Michael Kushner. by.
Last year Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave : Source-To-Contract Suites, Q4 2019. Procurement leaders today see the value of suites and the market has responded.
The latter has been reinforced by the April GSPI Index from the New York Federal Reserve , and now, the reported May GEP Global Supply Chain Volatility Index which indicated that “ for the first time since June 2020, global chain capacity is now underutilized, indicating a shift to a buyers’ market.
That assessment comes as a result of 10 months of subdued demand, inventory de-stocking, and high interest rates, the New Jersey-based company said in its “The GEP Global Supply Chain Volatility Index.” That index fell below zero in April to -0.04, from 0.32 That index fell below zero in April to -0.04, from 0.32
In "How to Avoid the Pitfalls of Contract Management in Telecom and High-Tech," GEP experts outline a four-pronged approach to getting contract management under control once and for all.
This month Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. Procurement leaders today see the value of suites and the market has responded.
However, when organizations expect their procurement teams to be more strategic, executives would require a software that not only automates and streamlines the sourcing and procurement processes but also empowers effective decision making. Big Data Analytics.
Review of Procurement and Sourcing Technology Tools from EC Sourcing Group. I am going to dig into the fast-evolving world of sourcing technology from a practitioner’s perspective as part of an on-going series. Sourcing suites include the likes of Coupa and GEP, which cater to end to end sourcing activities.
It can happen simply due to ineffective planning, risk management, warehouse use, or sourcing strategies. It’s a form of supply chain digitization that ensures every element, from sourcing raw material inventory to product delivery, is coordinated and managed through a centralized platform.
Procurement and supply chain executives are on the “same team” – and in general, a recent study conducted by the SCRC and GEP suggests that there is strong alignment between the two functions when it comes to prioritizing lower risks and reducing uncertainty in supply chains. And the older brother of speed is visibility.
The structure used in this approach was intended to not just conduct labor arbitrage, but to also develop core skills in the P2P space through a captive approach: Our sourcing COE is responsible for the low- and medium-complexity deals where the key outcomes desired include quicker turnaround time, throughput, and extracting any value you can.
We now share excerpts of Prediction Two likely to be one of the more longer-term consequential predictions, that which is related to supply network strategic and tactical sourcing strategies. Prediction Two Increased import tariffs and trade conflict policies of a second U.S. or other global companies.
Latest Supply Chain Volatility Index The GEP Global Supply Chain Volatility Index published in conjunction with S&P Global and GEP is an indicator that tracks demand conditions, material shortages, inventory levels and backlogs based on PMI reported survey of upwards of 27,000 companies in over 40 countries.
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