Tesco becomes the first in the European retail sector to introduce
autonomous sourcing by partnering with Globality
The U.K.-based grocery retailer will use Globality’s sophisticated technology
to achieve new efficiencies across all its indirect spend sourcing.
Globality, the leader in autonomous sourcing announced today that Tesco becomes the first multinational retailer in Europe to adopt its advanced technology.
Through the new partnership, Tesco welcomes Globality’s technology, Glo, as a new virtual member to its team. Glo guides Tesco’s buying teams via an interactive dialogue using a natural language interface that offers intelligent suggestions and insights to increase productivity. Glo also finds alternative sources of supply which increases competition and enhances the quality of products and services sourced at the right cost, ultimately improving the shopping trip for its customers.
“Our business stakeholders will be able to source their needs autonomously in a consumer-like experience, and yet procurement is able to proactively influence spend to achieve all of our sourcing goals,” said Charles Letizia, Chief Procurement Officer, Tesco. “Glo, our virtual category expert can help us build out market briefs with no prior knowledge, where suppliers can be recommended for needs based on unbiased evidence and past performance. Furthermore, we contract with those suppliers at the right, fair price based on complex automated cost analysis, where all the knowledge that we continually build within procurement is retained and reused through automation going forward — making our impact and effectiveness even greater and our roles simpler. We’ve entered a new world in procurement, and Globality has made this vision come true for us.”
“We are delighted that Tesco is deploying Globality’s game-changing autonomous technology to achieve substantial efficiencies in its sourcing process,” said Joel Hyatt, Cofounder, Chairman and CEO of Globality. “And we are proud to be partnering with Tesco’s finance and procurement leaders on this important innovation and advancement in how they do business.”
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