July 4, 2024 (press release) –
Vale has started an innovative project that will redesign its purchasing processes through new technologies and the simplification of processes. The change is part of the Supply Transformation Global Program, which is being developed in partnership with a group of companies: Accenture, Coupa, Procurement Garage, Beroe, Sievo, Linkana and CH Master Data.
Vale seeks to enhance its volume of autonomous purchases by using modern technologies, such as Artificial Intelligence and Machine Learning, leading the company to a new level of efficiency. The integration of big data and market information will enable a more dynamic and innovative strategy, connected to business needs, and allowing buyers to deepen relationships with internal areas and partners.
Full implementation is expected to occur by 2026, and annual numbers demonstrate the magnitude of such transformation: purchases of around US$14 billion; 8,000 active suppliers; and 660,000 orders. The project will replace more than 20 systems that are currently being used by Coupa's integrated and intelligent platform, making processes simpler and faster: a revolution in the purchasing experience for employees and suppliers. In addition, aligned with Vale’s principle of integrity, more than 90 controls will be automated, boosting process governance.
The project also seeks to strengthen Vale's responsible purchasing agenda, further and systematically incorporating ESG practices into decision-making.
“The partners are also part of the transformation. For Vale, collaborative work and active listening through genuine partnerships are fundamental for joint growth and evolution,” says Marco Braga, Vale’s Chief Procurement Officer. “As the program advances, more information will be shared on our official communication channels."
The Supply Transformation Global Program is part of Vale's commitment to sustainable and strategic growth.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistribute or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.