See how bp transformed procurement with Fairmarkit

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bp’s enormous scale of operations produces an incredibly complex system. The company’s supply chain spans the globe, incorporating functions as varied as drilling for oil, to constructing wind turbines, to operating retail storefronts. In this environment, the procurement team needs to manage spend ranging from billion-dollar specialist equipment to the receipt rolls in cash registers. Over the last 18 months, bp lost 25% of the organization. However, they still needed to produce the same quantity and quality of work, resulting in a massive gap.

  • $1.2B sourced with Fairmarkit

  • $100M of automated sourcing

  • 50% reduction in cycle time

"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. So for example, we have taken our cycle time down by about half and what that means in real terms is our stakeholders get their work and their product and services about 50% quicker.”
Nicholas Wright
Director, Digital and Innovation