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Cosmo Oil Adopts SAP Ariba Solutions for Procurement Efficiency - SAP SE announced today that Japanese petrochemical company Cosmo Oil Co., Ltd has rolled out SAP Ariba solutions to help it more efficiently procure indirect materials - Cosmo-oil.co.jp / SAP.com
Cosmo Oil Adopts SAP Ariba Solutions for Procurement Efficiency

 

PRZOOM - /newswire/ - Tokyo, Japan, 2020/04/22 - SAP SE announced today that Japanese petrochemical company Cosmo Oil Co., Ltd has rolled out SAP Ariba solutions to help it more efficiently procure indirect materials - Cosmo-oil.co.jp / SAP.com. NYSE: SAP

   
 
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As a core business within Cosmo Energy Group, Cosmo Oil functions as the Group’s supply division, procuring crude oil and managing the production, import, export and logistics for petroleum products and petrochemical products.

Cosmo Oil aims to reinforce its competitiveness by elevating its expertise and technological prowess in petroleum refining and R&D, and by creating alliances with other companies. The company is also exploring digital technologies and the transformation of its indirect materials procurement to help it meet its efficiency goals.

Cosmo Oil decided to adopt SAP Ariba solutions for better insight into its spend data in order to realize more strategic procurement and purchasing, reinforce supplier and sourcing management functions, facilitate expansions with other sites of operation, and standardize procurement processes across the company all while driving to an intuitive, convenient user experience.

Following the successful rollout of SAP Ariba solutions in December 2019, Cosmo Oil has now eliminated the formerly individualized and customized workflows of its procurement function by standardizing these processes end-to-end across the business. The ability to approve procurement and purchasing workflows from outside the office equips Cosmo Oil with the tools to promote remote work globally.

Looking ahead, Cosmo Oil hopes to further optimize costs and its selection process for suppliers by using the data and intelligence from SAP Ariba solutions.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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Cosmo Oil Adopts SAP Ariba Solutions for Procurement Efficiency

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Cosmo Oil Co., Ltd | SAP SE
Contact: Geraldine Lim - SAP.com 
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