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Efficiency

Efficiency has been and will continue to be the cornerstone of procurement success. When bp implemented Fairmarkit, their main objectives were to improve RFx efficiency, reduce cycle time, and save. Fairmarkit integrated with bp’s ERP system to transfer information in real time, removing the need for manual intervention and reducing their cycle time by 50%. For Emirates Flight Catering, who were spending a disproportionate amount of time managing low value transactions, Fairmarkit’s real time analytics gave them the intelligence to efficiently identify the performance of their buyers and suppliers and reduce their cycle time by 85%. For PCI Pharma, their recent growth led to a lack of visibility into spend, inconsistent processes, and poor communication between teams and suppliers. Fairmarkit’s platform offers data visualization, automation, integration and machine learning to support buyers and suppliers and evolve alongside the preferences of each customer to make each individual processes more efficient.

85%

reduction in cycle time

0

additional buyers added

$100M

automated sourcing

Henry Shepperd

Senior Procurement Performance Manager

“When we saw the machine learning solution that Fairmarkit was providing, we recognized a competitive advantage that we could get from using it. Particularly with our spare parts and MRO, we needed to reduce our cycle time to bring product in. We set ourselves a target of reducing cycle time by 50%. And today, we've achieved over 85% reduction.”

ERP Integrations

When PCI Pharma joined, Fairmarkit handled the implementation from start to finish, without draining internal resources. Having systems that seamlessly communicate through integrations or data analytics that are automatically emailed to stakeholders allows companies like bp and PCI Pharma to work more efficiently.

Nicholas Wright

Director, Digital and Innovation

"Before Fairmarkit we had a very manual sourcing process and it took time and what that caused was frustration with our stakeholders. What Fairmarkit has allowed us to do is complete those requirements without the people there. And for us that has been massive to unlocking the efficiency targets that were achieved through the platform and also the reduction in cycle.”
85%

reduction in cycle time

0

additional buyers added

$100M

automated sourcing

Henry Shepperd

Senior Procurement Performance Manager

“When we saw the machine learning solution that Fairmarkit was providing, we recognized a competitive advantage that we could get from using it. Particularly with our spare parts and MRO, we needed to reduce our cycle time to bring product in. We set ourselves a target of reducing cycle time by 50%. And today, we've achieved over 85% reduction.”

ERP Integrations

When PCI Pharma joined, Fairmarkit handled the implementation from start to finish, without draining internal resources. Having systems that seamlessly communicate through integrations or data analytics that are automatically emailed to stakeholders allows companies like bp and PCI Pharma to work more efficiently.

Henry Shepperd

Senior Procurement Performance Manager

“When we saw the machine learning solution that Fairmarkit was providing, we recognized a competitive advantage that we could get from using it. Particularly with our spare parts and MRO, we needed to reduce our cycle time to bring product in. We set ourselves a target of reducing cycle time by 50%. And today, we've achieved over 85% reduction.”