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

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=slidederve&utm_medium=ppt&utm_campaign=Higher+Efficiency+Savings

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

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  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. Objectives • Improve • Efficiency and productivity of the procurement function • Spend visibility • Spend management • Savings by automating payment process • Compliance • Enable • Pre-purchase approval system and capture early payment discounts • Streamline • Contract management processes

  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. Results

  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. Driving Greater Efficiency and Savings in the Procurement Function • Substantial increase in overall process efficiency delivered using: • Rule-based approval process on purchase orders • Auto-matching of invoices • Auto remittance advices • SMART by GEP significantly streamlined the client’s invoice processing operation, delivered greater visibility and tighter control.

  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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