INDORAMA VENTURES, ONE OF WORLD'S TOP 30 GLOBAL CHEMICALS COMPANIES, GOES LIVE ON GEP'S AI-DRIVEN SOFTWARE, TRANSFORMING ITS PROCUREMENT OPERATIONS AND DRIVING NEW VALUE

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Nov 05, 2024, 08:22 ET

Indorama Ventures goes live with GEP SOFTWARE's source-to-contract (S2C) and eAuctions solutions in North Americas, with APAC and EMEA to follow
GEP's Intelligent Category Management (ICM) provides real-time intelligence into all direct and indirect spend

CLARK, N.J., Nov. 5, 2024 /PRNewswire/ -- GEP^®, a leading provider of AI-driven procurement and supply chain software and services to Fortune 500 and Global 2000 enterprises worldwide, announced today that Indorama Ventures Public Company Limited, a global sustainable chemicals company, went liveon GEP SOFTWARE™, the industry's leading procurement and supply chain platform.

Headquartered in Bangkok, Indorama Ventures is one of the world's leading producers of PET, polyester yarns and fibers, and specialty chemicals, generating revenue of $15.6 billion in 2023. The company's 26,000 employees produce "indispensable chemistry" in more than 30 countries. Indorama Ventures is using GEP SOFTWARE to help transform its global procurement process, aligning with its IVL 2.0 transformation and Procurement 4.0 journey, through encompassing eAuctions, sourcing and contract management, spend analytics, and supplier management. GEP's Intelligent Category Management (ICM) is enabling Indorama Ventures' category managers to apply should-cost modeling, cost breakdowns and "what if" scenario modeling to identify cost savings in both indirect and direct purchases.

Sanjay Ahuja, Indorama Ventures' chief strategy and transformation officer, said, "Leveraging GEP's software aligns with our digital transformation and IVL 2.0 strategy, enabling us to more effectively manage our supply chain and procurement processes. This helps us to streamline our production and consequently enhances our reliability and value delivery to our customers. It also strengthens our ability to manage growth and mitigate risks in an increasingly complex market environment." GEP's AI-driven software platform provides a full range of low-code solutions to realize Indorama Ventures' vision by:

Increasing visibility into the entire S2C procurement process, providing better insights to uncover and drive new value
Leveraging strategic sourcing tools to identify cost-saving opportunities, negotiate effectively, and build strong supplier relationships
Mitigating risk by enabling comprehensive supplier performance evaluation
Strengthening its procurement operation by automating routine tasks and improving overall efficiency across global operations

GEP SOFTWARE encompasses GEP SMART™, named the world's best procurement software for the second year in a row, GEP NEXXE™, the next-generation cloud-native supply chain unified platform, and GEP GREEN™ to measure and advance sustainability. GEP SOFTWARE is powered by GEP QUANTUM, the industry's leading AI-first, low-code platform.

About GEP SOFTWARE

GEP SOFTWARE provides AI-powered digital procurement and supply chain platforms that help global enterprises become more agile, resilient, competitive and profitable. With beautifully rendered interfaces and flexible workflows, GEP provides users fresh, intuitive digital workspaces that yield extraordinary levels of user adoption and meaningful gains in team and personal productivity.

GEP products capitalize on machine learning and cognitive computing, advanced data and semantic technologies, IoT, mobile and cloud technologies, and are designed to incorporate continual innovations in technology. GEP's software integrates quickly and easily with third-party and legacy systems, such as SAP, Oracle and all other major ERP and F&A software. And with superb support and service, GEP is an industry leader in customer satisfaction and loyalty.

A leader in multiple Gartner Magic Quadrants, GEP's cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, Procurement Leaders and Spend Matters.

GEP SOFTWARE is part of Clark, NJ-based GEP — the world's leading provider of AI-powered procurement and supply chain software, strategy and managed services. To learn more, visit www.gepsoftware.com.

Media Contact

Derek Creevey
GEP
Phone: +1 732-382-6565
Email: [email protected]

SOURCE GEP