DB Power, an India-based electric utility firm, has selected GEP’s eAuction procurement software platform to manage its indirect and direct spend.
DB Power is currently in the process of establishing several coal-fired plants in the states of Madhya Pradesh and Chhattisgarh, with a target of 5000 MW of power production.
The firm was established in 2010 and is backed by IDFC Private Equity, a subsidiary of the Infrastructure Development Finance Company, a company within India’s Department of Financial services that provides finance, advisory, and investment banking services for infrastructure projects.
DB Power will now use GEP’s eAuction procurement platform to source suppliers using real-time bidding, price, and volume. GEP’s software allows clients to create an auction-based RFP with the option to use reverse or forward, English, Dutch, Japanese, or sealed auction types.
Companies can automatically select qualified suppliers to participate in the final auction stage, as well as utilize features including lotting strategies, extension rules, and safety nets to drive optimal value in sourcing.
The eAuction offering is part of GEP’s source-to-pay platform, GEP Smart. The platform uses AI, advanced data, and IoT technologies to help organizations improve efficiency, visibility, and agility in procurement and purchasing. The software is designed to easily integrate with leading third-party ERP systems such as SAP and Oracle.
GEP was recently tapped by Radisson Hotel Group Americas and Absolut for its procurement software. The Clark, NJ-based company, which has more than 5,000 employees globally, also provides supply chain consulting and managed services.