46% CPOs Plan To Utilize AI in Operations by End of 2024: Procurement Metrics Report

August 22, 2024 | Procurement Strategy

As we progress through 2024, procurement leaders face a rapidly evolving landscape marked by increased complexity and heightened expectations. Ardent Partners’ latest research highlights how chief procurement officers (CPOs) are tackling these challenges while leveraging new technologies and prioritizing critical initiatives.

Struggling With MRO Spend? Here Are 5 Strategies for MRO Category Management

August 21, 2024 | Procurement Strategy

Does your business know exactly how much it spends on maintenance, repair and operations (MRO) activities? Do you have a handle on several purchases made in this indirect spend category?

Most likely, you would not have a definite answer. Perhaps because MRO procurement is decentralized and overlooked by purchasing teams. And while this spending is necessary, it is not as strategic as the spend in some direct categories.

Most businesses cannot effectively manage their MRO supplies, which leaves a high volume of dead inventory that drains the budget.

How the US Utility Industry Can Navigate Section 301 Tariffs on Imports from China

August 20, 2024 | Cost Management

The U.S. administration has proposed new tariffs and an increase in existing tariffs on key Chinese imports, such as solar cells, EVs, batteries, and critical minerals under Section 301 of the Trade Act. The goal is to bolster domestic manufacturing, promote self-sufficiency in critical sectors and increase supply resilience in the long run.

Learning & Development Solutions Get a Boost from Generative AI

August 13, 2024 | Human Resource

Organizations recognize the pivotal role of learning and development (L&D) strategies in fostering growth and innovation. Yet, traditional methods of sourcing and delivering L&D solutions have often been falling short in addressing these evolving needs of the modern workforce.

How To Optimize Packaging Spend in the FMCG Industry

August 06, 2024 | Cost Management

Did you know that packaging costs in the fast-moving consumer goods (FMCG) industry amount to a total of a staggering 30% of direct costs?

Add to this the pressure of meeting ESG goals. It is known that cost is a barrier for sustainable packaging alternatives. Amidst economic uncertainty and competition, optimizing costs has become a priority for the FMCG sector.

Here are some actionable tips for effective packaging cost optimization:

Ammonia Producers Embrace Green Technologies to Slash Emissions

August 05, 2024 | Chemicals

Ammonia is extensively used in the production of agricultural fertilizers and is a key raw material for chemical, oil & gas, pharmaceuticals and textiles industries.

However, the chemical emits a lot of carbon during production – ~450 million tons of direct and ~170 million tons of indirect CO2 emissions annually. Ammonia production process utilizes methane, water and air and contributes to ~1.8% of the global CO2 emissions.

Hence, minimizing carbon dioxide emissions from ammonia manufacturing is crucial for achieving the target of net-zero emissions by 2050.

5 Ways To Leverage Virtual Cards for B2B Payments

Read more about 5 Ways To Leverage Virtual Cards for B2B Payments

With rising costs, supply chain disruptions and inefficient procure-to-pay (P2P) processes, procurement and accounts payable professionals are left with disconnected systems, manual tasks and a lack of transparency. This is costing them money and control.

Leveraging automation and virtual cards can help address these issues and boost P2P productivity. The challenge: What is the best path forward to transition from traditional payment processing methods to a more modern approach?

Why Strategic Spend Management is Crucial for Your Business Today

July 30, 2024 | Procurement Strategy

Does your business effectively manage all direct and indirect spend? What portion of your spend is actively managed? Do you have any plans to monitor and minimize the remaining unmanaged portion?

There can often be big gaps in spend management. How can you fill these gaps and get the entire spend under active management?

For example, despite having contracts with vendors and agreed terms, internal teams continue to make purchases outside these contracts. Such ad-hoc maverick purchasing often happens in the day-to-day procurement of goods and services.

Green Methanol Emerging as Key Player in Renewable Energy Transition

July 30, 2024 | Chemicals

Amid the intensifying fight against climate change, the demand for sustainable fuels with minimal to no emissions is at an all-time high. One of the viable options is green methanol.

Green methanol dramatically reduces CO2, NOx, SOx, and other emissions by 60-99%. When considering the carbon footprint from production to utilization, green methanol is the most sustainable alternative to conventional fuels.

Tame Your Tail Spend Now: Breakthrough Strategies to Boost Compliance, Efficiency and Savings

Read more about Tame Your Tail Spend Now: Breakthrough Strategies to Boost Compliance, Efficiency and Savings

Tail spend. It's been a thorn in the side of enterprises for years. And in today’s large global companies, managing it is more complex than ever.

But here’s the good news: you can now conquer tail spend with powerful new solutions, supercharged by AI.

In this GEP-CIPS webcast, our experts outline innovative ways — from new models to AI-powered tools — to help you tame your tail spend.

Key discussion points:

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46% CPOs Plan To Utilize AI in Operations by End of 2024: Procurement Metrics Report

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Struggling With MRO Spend? Here Are 5 Strategies for MRO Category Management

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How the US Utility Industry Can Navigate Section 301 Tariffs on Imports from China

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Learning & Development Solutions Get a Boost from Generative AI

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How To Optimize Packaging Spend in the FMCG Industry

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Ammonia Producers Embrace Green Technologies to Slash Emissions

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Why Strategic Spend Management is Crucial for Your Business Today

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Green Methanol Emerging as Key Player in Renewable Energy Transition

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