#USA #San Francisco #Arkestro #Chevron #Predictive Procurement

Arkestro and Chevron Collaborate for Global Procurement Transformation

Arkestro, a leading platform in predictive procurement, has made headlines recently with its announcement regarding the expansion of its client base to include the renowned Chevron Corporation, a giant in the energy sector. This collaboration significantly amplifies Chevron's efforts in utilizing advanced predictive procurement techniques, which aims to streamline their supply chain processes worldwide.

In essence, Arkestro's platform accelerates business scaling, allowing companies like Chevron to mitigate vendor cycle times and gain deeper insights into expenditure across various categories. Chevron's adoption of Arkestro’s technology marks a milestone as it facilitates an advanced transformation of procurement, extending its reach from the U.S. to international bases in cities such as Buenos Aires, Angola, the Philippines, Australia, and Thailand. The intention is clear: Chevron is committed to enhancing operational efficiency amid the dynamic challenges faced in the global energy market.

Joshua Flowers, Senior Manager of IT Category Management in Supply Chain Management at Chevron, believes that integrating Arkestro's capabilities is strategic for achieving faster time-to-value. "We need predictive insights and visibility to navigate market complexities and derive true value. Arkestro helps us optimize our operations, enabling our teams to focus on high-impact initiatives while effectively managing market volatility. The platform’s AI-driven capabilities allow us to set parameters confidently and let the technology manage execution."

The partnership is noteworthy as Chevron stands as a vital client for Arkestro, emphasizing the energy sector’s rapid progression in adopting innovative procurement methods. Current statistics from Arkestro reveal that Oil and Gas clients have seen an average cost reduction exceeding 20% from previously analyzed procurement expenses. Furthermore, these companies have escalated their procurement events significantly, achieving three times more with the same resources, resulting in cost savings within the initial 60 days of implementation.

The recent strategic investment of $36 million from Altira Group and Aramco Ventures further substantiates this growing trend in energy procurement, as industry specialists back the necessity for transformative solutions in such complex environments.

Rob DeSantis, CEO and co-founder of Arkestro, commented on the unique challenges of the oil and gas sector, stating, "Industry leaders are generating more than just savings; they require large-scale AI transformations. Chevron’s innovative approach signifies a broader shift towards intelligent procurement solutions. Collaborating with forward-thinking leaders like Joshua Flowers ensures we drive impactful changes together."

In light of the immense pressures concerning supply chains in the oil and gas industry, and with ongoing global demand shifts, the need for agile procurement strategies has never been more critical. Robert Turnham, a key advisory board member of Arkestro, outlined the urgency: "Current market conditions necessitate real-time analytics and adaptive strategies that redefine project management and operational costs in the oil fields. Arkestro empowers companies to anticipate market changes and streamline supply strategies efficiently."

Arkestro plans to feature these developments, along with its client success stories, at the upcoming Optimal '25 Houston conference scheduled for October 29-30, 2025. The event will gather procurement professionals to exchange insights on how AI and predictive technologies are revolutionizing procurement across various sectors. Noteworthy speakers include Joshua Flowers from Chevron, who will discuss his organization's journey towards predictive procurement transformation.

As the primary event focusing on AI for procurement specialists, Optimal '25 will host keynote speeches, workshops, and case studies, highlighting the transformative impacts of artificial intelligence and predictive analytics in procurement practices. For further details about Arkestro and its innovative solutions, interested readers can visit www.arkestro.com.

In conclusion, the alliance between Arkestro and Chevron stands as a powerful example of how advanced predictive technologies can propel operational efficiencies while enhancing competitive performance in a challenging market landscape. As the world continues to evolve toward more sustainable and efficient energy operations, such collaborations will be crucial in shaping the future of procurement within global markets.