How GEP is Transforming Indorama Ventures' Procurement

Indorama Ventures, one of the world's top 30 global chemicals companies, is using GEP SOFTWARE's source-to-contract (S2C) and eAuctions solutions in North America, with APAC and EMEA to follow.

GEP, known as a leading provider of AI-driven procurement and supply chain software, providing services to Fortune 500 and Global 2000 enterprises worldwide, will support Indorama Ventures Public Company Limited, a global sustainable chemicals company.

It will use GEP SOFTWARE, which many consider the industry's leading procurement and supply chain platform. 

Indispensable chemistry

Headquartered in Bangkok, Indorama Ventures is one of the world's leading producers of PET, polyester yarns and fibres and specialty chemicals, generating revenue of US$15.6bn 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 ICM is enabling Indorama Ventures' category managers to apply should-cost modelling, cost breakdowns and "what if" scenario modelling to identify cost savings in both indirect and direct purchases.

More effectively managing procurement

Sanjay Ahuja, Chief Strategy and Transformation Officer at Indorama Ventures, says: "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 realise 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

The world's best procurement software

GEP, 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.

Its software encompasses GEP SMART, named the world's best procurement software for the second year in a row at the 14th Annual World Procurement Awards in London.

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.

The company's products capitalise 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.

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