May 17, 2020

Gefco and Techstars to collaborate on "supply chain of the future"

Gefco
Techstars
Supply Chain
Technology
James Henderson
2 min
Mojix and CXignited have merged to establish a leader in supply chain transformation technology
Industrial supply chain services firm Gefco has announced a partnership with Techstars, a worldwide network that helps entrepreneurs succeed, which it s...

Industrial supply chain services firm Gefco has announced a partnership with Techstars, a worldwide network that helps entrepreneurs succeed, which it says will allow it to connect with the “supply chain of the future”.  

Gefco said the collaboration represents a unique opportunity to leverage the expertise of Techstars team in the field of entrepreneurship and innovation, and its industry know-how to the programme.

The partnership will enable Gefco to:

  • Collaborate with highly promising start-ups, that are driving major industry transformations, on concrete user cases and disruptive business models
  • Amplify transformation already initiated on work models and group culture through start-up pilots and start-up accelerator programme
  • Access a network of talented entrepreneurs, industry and innovation experts.

The company said it is focused in boosting new ideas and accelerating project execution to bring major evolutions in the logistics and transport industry.

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Start-ups involved in the following fields are encouraged to apply to the Techstars Paris programme: route or flow optimisation analytics that increase asset utilisation rate; distributed block chain software that can bring paperless e-services to the logistics ecosystem; and new intelligent trackers and connected sensors that can bring new services or improve operations efficiency.

“We are very pleased to partner with Techstars, an accelerator with an exceptional track record in supporting growing start-ups,” Luc Nadal, Chairman of Gefco’s Management Board, said.

“Thanks to our agreement, Gefco will have a unique opportunity to connect with dedicated entrepreneurs around the world to explore and invest in the supply chain of the future.”

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May 13, 2021

5 Minutes With: Jim Bureau, CEO Jaggaer

SupplyChain
Procurement
riskmanagement
JAGGAER
3 min
Jaggaer CEO Jim Bureau talks data, the power of procurement analytics, and supply chain risk management

What is data analytics, and why is it important for organisations to utilise?

Data analytics is the process of collecting, cleansing, transforming and analysing an organisation’s information to identify trends and extract meaningful insights to solve problems. 

The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions. Spend analysis and other advanced statistical analyses eliminate the guesswork and reactivity common with spreadsheets and other manual approaches and drive greater efficiency and value. 

As procurement continues to play a central role in organisational success, adopting analytics is critical for improving operations, meeting and achieving key performance indicators, reducing staff burnout, gaining valuable market intelligence and protecting the bottom line. 

How can organisations use procurement analytics to benefit their operations? 

Teams can leverage data analytics to tangibly improve performance across all procurement activities - identifying new savings opportunities, getting a consolidated view of spend, understanding the right time for contract re-negotiations, and which suppliers to tap when prioritising and segmenting suppliers, assessing and addressing supply chain risk and more. 

Procurement can ultimately create a more comprehensive sourcing process that invites more suppliers to the table and gets even more granular about cost drivers and other criteria. 

"The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions"


Procurement analytics can provide critical insight for spend management, category management, supplier contracts and negotiations, strategic sourcing, spend forecasting and more. Unilever, for example, used actionable insight from spend analysis to optimise spending, sourcing, and contract negotiations for an especially unpredictable industry such as transport and logistics. 

Whether a team needs to figure out ways to retain cash, further diversify its supply base, or deliver value on sustainability, innovation or diversity initiatives, analytics can help procurement deliver on organisational needs.

How is data analytics used in supply chain and procurement? 

Data analytics encompasses descriptive, diagnostic, predictive and prescriptive data. 

Descriptive shows what’s happened in the past, while diagnostic analytics surface answers to ‘why’ those previous events happened. 

This clear view into procurement operations and trends lays the groundwork for predictive analytics, which forecasts future events, and prescriptive analytics, which recommends the best actions for teams to take based on those predictions. 

Teams can leverage all four types of analytics to gain visibility across the supply chain and identify optimisation and value generating opportunities.

Take on-time delivery (OTD) as an example. Predictive analytics are identifying the probability of whether an order will be delivered on time even before its placed, based on previous events. Combined with recommendation engines that suggest improvement actions, the analytics enable teams to proactively mitigate risk of late deliveries, such as through spreading an order over a second or third source of supply. 

Advanced analytics is a research and development focus for JAGGAER, and we expect procurement’s ability to leverage AI to become even stronger and more impactful.

 

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