CITGO chooses SMART by GEP's unified procurement solution
CITGO will use SMART for its full sourcing, c...
CITGO will use SMART for its full sourcing, contract lifecycle management and supplier information management across its non-hydrocarbon procurement operations.
What is SMART by GEP?
GEP SMART is a complete procurement platform that unifies all functions of procurement in a single product that is native to cloud, touch and mobile technologies. It allows organisations to drive greater efficiency and performance through a comprehensive solution for direct and indirect procurement designed to streamline and automate all your source-to-pay processes.
Identify opportunities, manage savings, make purchases and payments, all through a unified procurement platform.
Increase adoption and drive enterprise-wide compliance through intelligent, intuitive interfaces and user-centric design.
Manage all source-to-pay processes on the go with a mobile-native design - anytime, anywhere and on any device.
Enable fluid information, process and work flow - accelerate end-to-end indirect and direct procurement processes.
Facilitate enhanced collaboration and synergy between procurement, suppliers, production, finance and other key stakeholders.
Standardise on-field tested, procurement process management best-practices and workflows for best-in-class performances.
Who is CITGO?
Based in Houston, Texas, CITGO is a renowned leader in the refining industry. It operates three refineries, and owns 48 terminals, nine pipelines and three lubricants blending and packaging plants. With around 3,500 employees and a combined crude capacity of 769,000 barrels every day, CITGO is considered the fifth largest and one of the most complex independent refiners in the United States.
Who is GEP?
GEP empowers global enterprises to operate more efficiently and effectively, gain a competitive advantage, boost profitability and maximise business and shareholder value. GEP creates and delivers unified supply chain solutions of unprecedented scale, power and effectiveness through fresh thinking, innovative products and unrivaled domain and subject expertise.
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EU and US agree end to Airbus-Boeing supply chain tariffs
The EU and US have agreed to resolve a 17-year dispute over aircraft subsidies, suspending tariffs on billions of dollars' worth of goods that have plagued procurement leaders on both sides of the Atlantic.
Under an agreement reached by European Commission Executive Vice-President Valdis Dombrovskis and US Trade Representative Katherine Tai on Tuesday, the tariffs will be halted for a period of at least five years.
It will bring an end to punitive and disruptive levies on supply chains that have little to do with the argument, which became embroiled in the trade battle. Businesses on both sides of the dispute have been hit with more than $3.3bn in duties since they were first imposed by the US in October 2019, according the EC.
The US imposed charges on goods upto $7.5bn in response to a World Trade Organisation ruling that judged the EU’s support of Airbus, its biggest aircraft manufacturer, unlawful. A year later in November 2020, the EU hit back. The WTO found the US had violated trade rules in its favourable treatment of Boeing, and was hit with EU duties worth $4bn.
In all the tariffs affected $11.5bn worth of goods, including French cheese, Scotch whisky, aircraft and machinery in Europe, and sugarcane products, handbags and tobacco in America. Procurement leaders on both sides of the fence were forced to wrestle with tariffs of 15% on aircraft and components, and 25% on non-aircraft related products.
Boeing-Airbus dispute by the numbers
- The dispute began in 2004
- Tariffs suspended for 5 years
- $11.5bn worth of goods affected by tariffs
- $3.3bn in duties paid by businesses to date
- 15% levy on aircraft and 25% on non-aircraft goods suspended
Both sides welcome end to tariffs
European Commission President Ursula von der Leyen branded the truce a “major step” in ending what is the longest running dispute in WTO history. It began in 2004.
“I am happy to see that after intensive work between the European Commission and the US administration, our transatlantic partnership is on its way to reaching cruising speed. This shows the new spirit of cooperation between the EU and the US and that we can solve the other issues to our mutual benefit,” she added.
Both aircraft manufacturers have welcomed the news. Airbus said in a statement that it will hopefully bring to an end the “lose-lose tariffs” that are affecting industries already facing “many challenges”. Boeing added that it will “fully support the U.S. Government’s efforts to ensure that the principles in this understanding are respected”.
The US aerospace firm added: "The understanding reached today commits the EU to addressing launch aid, and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment, without requiring further WTO action."
This week’s decision expands upon a short-term tariff truce announced in March this year. The EC says it will work closely with the US to try and further resolve the dispute, establishing a Working Group on Large Civil Aircraft led by each side’s trade minister.
Airbus last month signalled to suppliers that post-pandemic recovery was on the horizon, telling them to scale up to meet a return to pre-COVID manufacturing levels. “The aviation sector is beginning to recover from the COVID-19 crisis,” said Airbus chief executive Guillaume Faury, adding that suppliers should prepare for a period of intensive production “when market conditions call for it.”