One function, one platform: The case for consolidating direct and indirect procurement technology
This Supply Management Insider webinar, held in partnership with GEP, will look at direct and indirect procurement and consider the potential for technological convergence
Direct and indirect procurement – what might be termed as the two halves of procurement – have essentially evolved into two different disciplines. And yet, they are undeniably trying to achieve the same goal: acquire things of the right quality, at the right cost, at the right time and deliver them to the right place. Despite this, indirect procurement has come to be viewed as inherently lower in risk, and has therefore been faster to exploit the potential of new technology.
But why should this be the case? At the end of the day, from the standpoint of a CEO or CFO, a spend is a spend. Is there any good reason why some of the tools that have made indirect procurement so much more efficient – e-auctions, sourcing modules, P2P, and all the automation and analytic functions underpinned by AI – are not being used more widely to manage direct spend?
This Supply Management Insider webinar, in partnership with GEP, will look at direct and indirect procurement and consider the potential for technological convergence – the impact that digital innovation and transformation, mainly enjoyed by indirect, could have on direct procurement, and the significant competitive advantages that could be realised if all procurement processes were empowered by the same best-in-class technology.
On the agenda:
- How source-to-pay software can unify and multiply efficiencies in direct and indirect procurement
- The benefits of being able to share data and analytical capability throughout the function
- The impact of a VUCA environment increasing the urgency for procurement-wide digital transformation
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Paul leads the technology product marketing team at GEP and is responsible for the promotion of GEP’s procurement technology platform, SMART by GEP. He has worked in technology for more than 25 years and has been involved in the development of procurement software solutions since before the advent of the internet. Having run the development team that delivered Europe’s first B2B trading platform in the 1990s and implemented eCommerce networks on three continents in the early 2000s, he has long-term experience of the trends and developments that affect procurement professionals.
Vengat is a seasoned procurement and supply chain management professional proficient at delivering sustainable cost savings and process improvements across industries. He has been a part of multiple procurement transformation initiatives, led several large-scale strategic sourcing engagements, and secured around a billion dollars of savings in both direct- and indirect-related spend and supply chain operations. His clients include Fortune 500 companies, primarily in CPG, automotive, and industrial manufacturing. Vengat’s areas of expertise include supply chain design and optimisation, procurement transformation, organisation design, supplier relationship management, strategic sourcing and inventory management.