January 24, 2025 | Procurement Strategy
For procurement professionals, the challenge is clear: How do you stay ahead in an era where artificial intelligence (AI) is not just an advantage but a necessity? How do you balance traditional negotiation expertise with AI-driven insights to drive value, enhance supplier collaboration, and outpace your competition?
Procurement and legal teams frequently work hand-in-hand on various business activities. However, there can be a disconnect when it comes to managing legal services spend, potentially leading to inefficiencies, strained relationships and missed opportunities to drive value for the organization.
How can procurement evolve into a strategic partner that supports legal teams while meeting organizational goals?
January 23, 2025 | Procurement Strategy
While the hospitality industry suffered as a result of the pandemic and subsequent restrictions and economic uncertainties, it has since bounced back, seeing a compound annual growth rate of 7.0%, according to EHL Insights.
January 22, 2025 | Accounts Payable
As a procurement or supply chain professional, you’re no stranger to the maze of international accounts payable. You’ve likely mastered the basics of compliance, currency exchange, and vendor management. But as global operations expand, how do you stay ahead of evolving tax regulations, fluctuating exchange rates, and increasingly complex payment methods?
January 22, 2025 | Procurement Strategy
Procurement professionals recognize that a one-size-fits-all approach to sourcing is rarely the answer. Sometimes, the process of competitive bidding is unnecessary not to mention impractical.
In situations like these, non-competitive procurement is an alternative strategy that’s all about precision, speed and trust.
Below we’ll cover what it is, how it stacks up against competitive procurement and how to leverage its unique advantages.
Procurement leaders have navigated the ups and downs of 2024, including data challenges and the need to enhance the user experience. These hurdles — along with global economic and political uncertainties — will remain, while new ones will emerge.
For the solutions you need to succeed in 2025, watch this session with experts from GEP and The Hackett Group for a wide-ranging look at the future. Get inspired for the year ahead.
On the Agenda:
January 21, 2025 | Procurement Software
Every dollar spent and every delay in your procurement process speaks volumes about your organization’s operational health.
Inefficiencies in procure-to-pay (P2P) workflows can sap profitability, strain supplier relationships, and expose your business to compliance risks.
This makes Key Performance Indicators (KPIs) a vital lens to uncover inefficiencies, strengthen supplier partnerships, and secure regulatory adherence. The right KPIs turn hidden issues into actionable opportunities to improve performance and cut costs.
Balancing sustainability goals with cost efficiency in your supply chain management is no small feat.
Read this case study to learn how a global pharmaceutical leader fixed inefficiencies in a €25M packaging budget.
By partnering with GEP and leveraging 3D printing and data-driven strategies, they didn’t just meet their goals — they exceeded them, doubling cost-saving targets while significantly reducing material waste.
What’s Inside:
January 16, 2025 | Technology
When Tony Stark built the Iron Man suit, it wasn’t just the armor but the integration of cutting-edge technologies that made it powerful.
Think of the suit's components: the arc reactor powering everything, the AI (J.A.R.V.I.S.) providing real-time data and decision-making support, the advanced sensors enabling situational awareness and the propulsion boosters for near superhuman mobility.
Each of these components communicated seamlessly, creating a symbiotic system far greater than the sum of its parts.
January 15, 2025 | Contract Management
Does your business spend a lot of time drafting and negotiating contracts with vendors? Most probably, yes.
But once the contract is finalized, how often do you refer to its terms and conditions and monitor compliance? And why is there a huge gap between contract creation and implementation?
Because most businesses today have contracts with multiple suppliers. For a large enterprise, there may be more than a thousand suppliers at a time. A mid or small business may also be dealing with hundreds of suppliers.
