Porsche Implements Icertis for Supply Chain Contract Process
Porsche has announced it will be partnering with specialist Icertis and deploying Icertis’ Contract Lifecycle Management Solution across 18 business units as part of their new approach to contract management.
Icertis, leading provider of enterprise contract management in the cloud has announced its expansion to partner with Porsche. Porsche will now roll out Icertis Contract Management (ICM) platform as its enterprise-wide contract management software.
Porsche AG was looking for a Contract Lifestyle Management (CLM) solution to provide digital end-to-end contract management. As it’s part of an industry where the supply chain is complex, Porsche needed a cloud-based solution that provided efficient coordination with all internal stakeholders.
The high-performance software will enable Porsche to take control of its contract, gain better access to data and overall better manage supply chains. The automotive industry often harnesses complex manufacturing and supply chains and are part of large-scale business processes.
It is essential that understanding agreements with multiple suppliers, at scale, enables organisations to better ensure compliance of the supplier base. In order to save money, tracking agreements with suppliers across the whole organisation is part of the initiative.
Icertis started it’s relationship with Porsche back in 2018 where Icertis ran a trial solely with indirect procurement. This relationship has now grown into a strategic partnership as Porsche are now rolling out Icertis’ software across its 18 business units, occupied by 2000 staff.
“The correct handling of contracts is an essential component of Porsche AG's success” said Dr. Melanie Schenk, legal counsel, Porsche AG. “ICM now enables transparent integration of all relevant departments in the process of contract coordination. It also supports the departments in contract processing, e.g. through the possibility of digital signing, deadline checks and a file that can be traced at any time.”
“Porsche AG has a reputation for producing some of the most innovative sports cars in the world,” said Samir Bodas, CEO and Co-founder, Icertis. “To maintain efficiency in competitive and performance-driven industries, forward looking companies are reimagining their commercial foundations with contracts at the centre. We’re thrilled Porsche AG is expanding its relationship with us and will leverage the ICM platform across its organization to unlock the true value that only an enterprise-wide approach to contract management can deliver.”
Canoo Awards Manufacturing Contract to VDL Nedcar
Canoo, a trailblazing company in the electric vehicle (EVs) manufacturing industry, has officially announced owned and contract manufacturing plans that will ensure the company manages to deliver on its promise to consumers of production and delivery of vehicles in Q4, 2022.
During the company’s first Investor Relations Day, Chairman & CEO of Canoo, Tony Aquila, named VDL Nedcar as its contract manufacturing partner. VDL Nedcar, which I’m sure many of you will already have heard of, is the only independent Vehicle Contract Manufacturer in the Netherlands and has enjoyed fifty years of growth under owners, including Mitsubishi Motors and Volvo cars. According to the report, Nedcar will manufacture the Lifestyle Vehicle for the United States and European Union markets, while Canoo builds a US-based mega micro-factory.
"We conducted an exhaustive search, invested significant amounts of time and resources that span the globe, in our search for our Phase 1 contract manufacturer. VDL Nedcar is the right partner," said Tony Aquila, Investor, Chairman and CEO of Canoo, Inc. "They are the top trusted European manufacturer building high-quality products for leading OEMs, and they significantly outcompeted the other contenders. VDL is also independently owned by the van der Leegte family of entrepreneurs - which aligns with our commitment to support businesses that form the backbone of communities. This strategic partnership will enable us to deliver vehicles to market while we build our Phase 2 factory in Oklahoma. It also strongly positions us for geographic expansion in Europe and builds a lasting relationship with VDL Groep of companies. Our investment will help us scale quickly and fulfil our mission to bring affordable, purpose-built EVs to Everyone."
Canoo and VDL have already gotten to work on vehicle manufacturability and production planning so that Canoo can successfully lay the groundwork for its upcoming US manufacturing operations expansion, which will be completed in Oklahoma in 2022. The Nedcar facility currently expected to produce around 1000 units for both the US and European markets in 2022, with an additional 15000 targeted for the following year.
"Canoo's bold approach to designing and building electric vehicles makes them an ideal partner as we work together to shape the future of mobility," said John van Soerland, CEO of VDL Nedcar. "This partnership advances our strategic vision to provide a contract manufacturing solution and expand our expertise in the EV arena."
Currently, Canoo is entering its GAMMA phase of development and is on track to start production soon. The company intends and expects to launch its Lifestyle Vehicle in Q4 2022, closely followed by the Multi-Purpose Delivery Vehicle and Pickup Truck.
Watch this space.