The Launch of AI-First, Low-Code Application Development Platform GEP QUANTUM, Rising Spare Capacity Across Global Supply Chains and More

The GEP RoundUp brings you the latest and greatest from GEP, and the world of supply chain and procurement.

Featuring the top stories, insights and events curated by our experts, partners and clients, we cover everything from the newest innovations and technologies to the biggest challenges and opportunities facing the industry – so you can stay up to date and in the know.

1. GEP Unveils Powerful AI-First, Low-Code Platform GEP QUANTUM for Procurement, Supply Chains & Sustainability

Artificial intelligence is set to make a huge impact on procurement and supply chain operations. This was unanimously agreed by industry leaders at the recently held annual event, GEP INNOVATE 2023, a two-day conference that brought together leading experts, practitioners and thought leaders in procurement, supply chain, AI and digital transformation.

The key highlight at the annual global user conference was the launch of GEP QUANTUM , an AI-first, low-code application development platform for sustainable procurement and supply chains.

GEP QUANTUM realizes the full range of AI technologies, including generative AI, and advanced data management technologies, while delivering spectacular levels of empowerment to non-technical users in a no-code/low-code development framework.

2.?No End to Global Manufacturing Recession in Sight as Supply Chains Worldwide Remain Significantly Underutilized: GEP Global Supply Chain Volatility Index

The GEP Global Supply Chain Volatility Index — a leading indicator tracking demand conditions, shortages, transportation costs, inventories and backlogs based on a monthly survey of 27,000 businesses — decreased again in October to -0.41, from -0.35 in September, indicating a seventh successive month of rising spare capacity across the world’s supply chains. Coupled with October’s downturn in demand for raw materials, components and commodities, this shows a rising slack in global supply chains.

Asia saw the strongest rise in excess capacity since June 2020 as the region’s economic resilience continued to fade.

3.?GEP SMART Wins Procurement Leaders APAC 2023 Solution Provider Award

GEP SMART has been named winner of the prestigious Procurement Leaders Asia Pacific 2023 Solution Provider for Procurement award. Procurement Leaders selected GEP SMART because it “demonstrates the most impactful and valuable software for procurement.” This is the latest award for GEP SMART, which is used in 120 countries and sets the standard, transforming how the world’s leading companies create greater value from their direct and indirect spend. Read More.

4. AI-Powered Procurement: How to Fast-track Investment and Adoption

65% of procurement leaders expect to implement AI in the next 12 months. How can they jumpstart the process and identify the quick wins? Where will AI have the biggest impact – category management, sourcing, other areas? In this webcast, GEP’s AI experts walk you through the next critical steps to ensuring that you’re a leader in the race to leverage AI for procurement. Read More.

5.?How Procurement Can Succeed in Reducing Scope 3 Emissions

Scope 3 emissions present one of the most complex challenges for organizations – one that no forward-thinking company can ignore. To navigate this maze successfully, enterprises must work closely with their suppliers. This procurement playbook offers a comprehensive analysis of different methods to track scope 3 emissions and create a baseline and shares an actionable plan with suppliers to reduce them.

6.?Strategic Cost Management Approaches to Unlock Growth and Increase Profitability

How can businesses gain a competitive edge in an era marked by relentless competition and economic fluctuations? The secret is mastering strategic cost management strategies. The latest GEP bulletin breaks this down into clear, actionable steps. Discover how strategic cost management can boost your enterprise’s financial health, helping not only to keep up but to excel in today’s uncertain market.

7.?Direct Material Sourcing: Why Your Business Needs a Unified S2P Solution

Fluctuating material costs, commodity prices and demand surges have made it vital for businesses to streamline direct sourcing. Further, as deviations in quality and specifications of direct materials can impact end products, direct sourcing requires stringent quality controls and supplier management.

This GEP blog explains how an advanced direct sourcing solution can help businesses manage the entire source-to-pay process by seamlessly integrating with downstream systems.

8.?How a Fortune 500 Oil & Gas Major Partnered with GEP to Achieve a 15% Jump in Procurement ROI

An oil & gas company with presence in more than 100 countries had been facing procurement challenges due to several legacy custom solutions, a situation that gave rise to inefficiencies, and data governance and user experience issues. The company engaged GEP to implement a single, unified global system that could not only centralize processes and data, but also automate the client’s business processes.

Read this case study to learn how GEP solved the client’s challenges with its Intelligent Category Management offering, which provides real-time insights on procurement performance.

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