A Strategic Guide to Reducing Procurement Costs Through Collaboration
CPOs are tasked with reining in procurement costs, but they can’t do it alone. Procurement leaders are increasingly looking to collaborate with critical partners to address their challenges, including dealing with complex supply chains, reducing costs while managing quality, and fostering strong partnerships.
How can procurement harness synergistic processes to meet cost reduction targets? How Collaborative Process Improvement Can Help Procurement Optimize Cost Reduction offers a road map for collaborative process improvement (CPI) — a structured approach to identifying cost-reduction opportunities by joining forces with suppliers.
What’s Inside:
- The importance of a CPI framework for collaborating with suppliers on cost-reduction
- Why you need cost-reduction initiatives built on mutually beneficial opportunities
- How a CPI approach enables organizations to leverage suppliers' expertise early
Why Read This Bulletin
Providing a Framework
How CPI offers a plan for partnering with suppliers on cost-reduction strategies
Collaborating on Targets
Why you need cost-reduction initiatives built on mutually beneficial opportunities
Leveraging Expertise
How a CPI approach enables organizations to recognize suppliers’ strengths early
Want Procurement To Reduce Cost? Focus on Collaboration. Read Now
About Us
GEP® delivers AI-powered procurement and supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value.
Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people — this is how GEP SOFTWARE™, GEP STRATEGY™ and GEP MANAGED SERVICES™ together deliver procurement and supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world’s best companies, including more than 550 Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals.
A leader in multiple Gartner Magic Quadrants, GEP’s cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters.
GEP is also regularly ranked a top procurement and supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in Clark, New Jersey, GEP has offices and operations centers across Europe, Asia, Africa and the Americas. To learn more, visit www.gep.com.
GEP SMART™ is an AI-powered, cloud-native software for direct and indirect procurement that offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE™ is a unified and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains.
Built on a foundation of big data, artificial intelligence and machine learning, GEP NEXXE is next-generation software that helps enterprises make supply chain a competitive advantage.
