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Leading Drugstore Chain Drives Higher Efficiency and Savings with SMART by GEP

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The extensive procurement processes that every drugstore chain goes through, right from purchasing thousands of drugs to managing similar number of transactions, can overwhelm even the best procurement teams – more so, when these processes are manually driven and decentralized. Learn how SMART by GEP helped transform the procurement function of a leading drugstore chain with 4,500 drugstores spread across the United States. To learn more visit: SMART by GEP - SMART by GEP - https://www.smartbygep.com/procurement-software?utm_source=powershow&utm_medium=ppt&utm_campaign=Higher+Efficiency+Savings

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Leading Drugstore Chain Drives Higher Efficiency and Savings with SMART by GEP

  1. 1. Introduction • A leading drugstore chain wanted to migrate from its decentralized, manual procurement processes and multiple systems to a centralized, automated procurement solution. Client • More than 50 years of experience • 85,000 Associates • Strong U.S. presence - more than 4,500 stores across 31 states.
  2. 2. Objectives • Improve oEfficiency and productivity of the procurement function oSpend visibility oSpend management oSavings by automating payment process oCompliance • Enable oPre-purchase approval system and capture early payment discounts • Streamline oContract management processes
  3. 3. Results • Significant improvement in P2P process efficiency • Major increase in spend under management • Higher visibility and advanced reporting • Rise in capture of early payment discounts • Higher user adoption • Higher compliance
  4. 4. Results
  5. 5. Achievements • Implemented SMART by GEP’s P2P and Contract Management function in under 8 months • Achieved necessary security and scalability with SMART by GEP’s advanced cloud based infrastructure • Improved processes to manage indirect spend • Higher integration with suppliers through portal connectivity
  6. 6. Driving Greater Efficiency and Savings in the Procurement Function • Substantial increase in overall process efficiency delivered using: oRule-based approval process on purchase orders oAuto-matching of invoices oAuto remittance advices • SMART by GEP significantly streamlined the client’s invoice processing operation, delivered greater visibility and tighter control.
  7. 7. Resources • https://www.smartbygep.com/procurement-software • https://www.smartbygep.com/procurement-software/procure-to-pay • https://www.smartbygep.com/procurement-software/contract-management • https://www.smartbygep.com/insight/case-studies/leading-drugstore-chain-drives-higher- efficiency-and-savings-smart-by-gep

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