TechnologyBP expands use of electronic purchasing

BP expands use of electronic purchasing

BP is to widen the use of electronic purchasing, having saved millions of pounds on its $16bn (£8.5bn) annual procurement budget by using e-auction technology.

The energy giant has reduced the time taken to order new materials and cut related administration costs by 25%, since it started using the systems. BP has also achieved an average cost saving of 4% on goods bought using Ariba QuickSource and reverse auction products.

Global procurement director Bill Knittle said: ‘We have a $16bn budget to purchase everything from retail merchandise… to engineering equipment.’

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