About SourcingAI
We give procurement, supply chain and financial resources the platform and tools to accelerate the work to identify and quantify potential savings in their supply chain.
We carry out massive amounts of real time calculations to allow users to engage in the lightest way with our platform to deliver simple outputs……..based in sophisticated real time big data analytics.
We utilise Generative AI, Narrow AI, Machine learning and Natural Language Programming to leverage the latest technologies to maximise the accuracy of our forecasting models. We have done the work to capture all of the levers and conditions that effect the delivery of savings. We keep that dataset up to data in real time so it is available, and does not need to be researched and analysed.
With approx. 8 master categories of spend, 4-10 sub categories in each master, with a small number of sub, sub, categories the number of individual points of focus is over 250 areas of spend type that have unique attributes.
There are 50+ external supply chain conditions and attributes that uniquely affect each of the 250+ spend areas in the calculation of savings forecasts. That is over 12,000 points of influence from external sources that vary constantly, that we keep current.
Empirical evidence of savings delivery that is calibrated with current supply chain conditions can identify targets for savings delivery. The individual supply chain circumstances of your organisation are unique, the markets, suppliers and drivers on supply side are dynamic and fluid, but the effects are able to be utilised to calculate savings in your supply chain.
100+ years of real world sourcing and procurement projects.
For decades, management consultants, contractors, and interims have carried out work to understand organizations’ supply chain dynamics and supply chain markets and analyze all the variables involved in order to forecast how much cost could be saved in running a procurement.
A savings forecast has always been variable =/- X% accurate because of the time it takes to complete the work and the changing dynamics over time. This ‘Actual Intelligence’ is the empirical information that informs the logic and algorithms that power SourcingAI. It is always current and is enhanced by the artificial intelligence that compliments it.
Logic that extrapolates the reference data to create forecasts.
AI is revolutionizing supply chain management by offering advanced analytics and automation. Through AI-driven algorithms, businesses can analyze vast amounts of data in real-time, enabling better forecasting, inventory optimization, and risk management.
Additionally, AI streamlines supply chain processes with automated workflows and predictive maintenance, reducing costs and improving efficiency. Embracing AI in supply chain management empowers businesses to enhance decision-making, optimize operations, and adapt to dynamic market conditions, ultimately driving greater competitiveness and resilience in the global marketplace.
Multiple additional data sources are considered against the 2 other primary data sources,
Is the optimum solution for savings forecast generation as it’s a foundation of actual (empirical evidence) intelligence complemented by artificial intelligence. This is further enhanced by machine learning, which captures the actual savings results obtained compared to what was forecast.
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