November 08, 2024 | Procurement Software
In supply chain management, differentiating between demand planning and demand forecasting is crucial—though it can be challenging. Both are fundamental components of effective supply chain strategy, but they each have unique roles.
Confusing these terms can result in poor decision-making and flawed strategies. Mistaking demand planning for demand forecasting can lead to serious issues, affecting inventory control, customer satisfaction and the financial well-being of a business.
For companies dealing in fresh produce, even small disruptions in supply chain efficiency can result in significant financial setbacks. A Fortune 500 company learned this the hard way, when it faced €12.2 million in potential losses from supply-demand mismatch.
Hellenic Bank, one of Cyprus’ top financial institutions, integrates indirect procurement and elevates procurement performance by deploying GEP SMART software.
June 03, 2024 | Sourcing Strategy
It’s evident that the shift towards digital solutions has transformed the traditional procurement process. Two key components of this digital transformation are e-sourcing and e-procurement. Though these terms are used synonymously, they serve different functions in the procurement process.
April 19, 2024 | Supply Chain Software
Digital supply chains leverage big data, AI, and cloud computing to optimize every stage in procurement and logistics and thereby offer businesses collaboration, agility, and cost savings. Read this GEP blog to explore its benefits, implementation roadmap, and the role of AI.
April 15, 2024 | Inventory Management Software
Digital Transformation is Key for BOM Inventory Management that can be error prone and time consuming. A BOM inventory management software can help optimize process and drive savings. Learn more in this latest GEP blog.
February 21, 2024 | Supply Chain Software
Demand fluctuations, empty shelves, out-of-stock situations and disappointed customers – retail companies have dealt with these challenges in the recent past.
While inflationary and supply chain pressures have eased since then, there is still the larger economic uncertainty to contend with.
Retailers know that demand and supply mismatches can re-occur at any time in a volatile market.
January 05, 2024 | Strategy
In 2023, the public sector continued to adapt to a fast-evolving landscape, focusing on integrating technology, enhancing supply chain resilience and adopting sustainable practices.
Significant attention was given to digital transformation, AI implementation, and addressing environmental, social, and governance (ESG) aspects in procurement and operations. These shifts reflected a broader effort to meet contemporary challenges and opportunities more effectively.
January 03, 2024 | Supply Chain Software
IT plays a crucial role in optimizing and streamlining various aspects of supply chain management. But organizations also need to address data security and privacy concerns in the integration of IT into supply chain management. Know more in this blog.
December 28, 2023 | Supply Chain Software
Supply chains today are complex, fragmented and work very differently from a few years ago, thanks to pandemic-induced disruptions, geopolitical conflicts, economic slowdown and other unforeseen events. Too many of these disruptions have left businesses stranded amid prolonged shortages of critical raw materials.
In many ways, these unforeseen events have triggered a rethinking of supply chain operations as well as the roles of supply chain professionals.
In a disruption-prone new normal, businesses need to adjust their strategy and bring new and innovative ideas to life.
