Survey on AI’s Role in Supply Chain, 2024 CPO Report for LATAM, Inventory Management Tips for the Holiday Season 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. "Not Just Hype," Finds a New Survey on AI Adoption in Supply Chain

65% of decision-makers plan to explore ChatGPT or similar generative AI tools in the next 12 months, finds a GEP survey conducted by Foundry. The results validate that AI is not hype but is critical for supply chain transformation. Learn how organizations plan to leverage AI and other survey results in this CIO report .

2. HBR Report on Procurement’s Sustainability Initiative

Along with cost management and supply chain resilience, procurement now has an additional responsibility — of spearheading the company’s sustainability goals. How can procurement succeed in this endeavor? This new white paper by Harvard Business Review Analytic Services discusses how procurement can play a vital role in achieving sustainability.

3.?LATAM Companies Facing Roadblocks in Digital Transformation Journey: 2024 CPO Report

More than half the companies in LATAM said they are already undergoing digital transformation but only 15% have finished the implementation phase because of data immaturity, inadequate tools integration, lack of equipment and support teams, and below par database management. 2024 LATAM CPO Report by GEP looks at how chief procurement officers in the region are navigating the post-pandemic business environment and their short-term and medium-term priorities.

4.?Retailers Need to Improve Inventory Management This Holiday Season

Retailers, grappling with excess inventory accumulated over the past three years, now face subdued demand, high labor costs and shortages. To improve cash flow and drive profits in the holiday season, they need to lower their fixed and variable inventory and storage costs. Know more in this blog.

5. Why Businesses Need AI and Humans to Work Together

As AI transforms business, effective collaboration between technology and human insight is crucial. Though AI can provide intelligence, humans must guide its application, determining optimal use cases and training machines accordingly. This blog explains how AI automation and human expertise can minimize errors and add value.

6.?Driving Cost Savings With Virtual Power Purchase Agreements

Investments in renewable energy are rising as businesses look to accelerate ESG and sustainability initiatives to meet regulatory requirements as well as consumer demand. A new GEP bulletin discusses how virtual power purchase agreements (VPPAs) provide a viable solution for companies looking to meet their energy needs while accelerating the adoption of renewable energy sources.

7.?How a Fortune 500 CPG Company Saved 20% on Key Raw Material Procurement

Changing consumer preferences and industry consolidation meant that a Fortune 500 CPG company had to adapt to rising demand and fewer suppliers in a key category. The company turned to GEP to help optimize its $14 million egg sourcing category. This case study details how GEP’s deep insights into cost drivers helped the company reduce overall category spend.

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