Recognizing and capitalizing on cost Optimization opportunities is always important for organizations looking to safeguard their supply chains. But in today’s climate, with instability and market competitiveness at an all-time high, uncovering and locking in discounts from your sourcing spend is more than a nice-to-have – it’s crucial for long-term survival.
More often than not, the potential for overspending on investments is primarily due to a lack of insight, evidence, and, most importantly, actionable advice. LevaData understands that although cost optimization is a top priority for organizations, actualizing that goal isn’t always easy. That’s where eBenchmark comes in.
What Is eBenchmark™?
eBenchmark is a one-of-a-kind, transformative capability available through LevaData’s AI-driven Cost Optimizer platform. It uses “common sense calculation” to anonymize, identify, and present the lowest distributor prices available compared to the MPN prices set by suppliers. The result is a seamless model for comparison to see how competitive (if at all) your current pricing is.
eBenchmark also helps foster normalized percentage discounts, so you can easily compare all available price points to inform spending decisions. This, in turn, creates a contextual market attainability cost perspective upon which you can base your organization’s sourcing strategy. Furthermore, eBenchmark™ provides users with direct links to distributors with the best price and can inform customers of any available stock for parts that are becoming difficult to source.
How Does eBenchmark™ Benefit Your Business?
Negotiating with suppliers can be an arduous task. Researching market trends, validating the competitiveness of prices, negotiating discounts, and locking in rates takes time, energy, and manpower – all of which can stall the forward-moving momentum and scalability of your supply chain. Beyond that, there’s always the risk that the market data you use to inform your decisions isn’t providing an accurate, holistic scope of pricing trends and savings opportunities.
eBenchmark streamlines this process by providing the analytics and recommendations needed to inform spending decisions. By quickly informing customers when and where better pricing or more competitive discounts are available, organizations can fast-track cost optimization efforts.
Armed with accurate, relevant information, you can decide between renegotiating pricing with your suppliers or taking your business elsewhere. Regardless of which course is best for your organization, you’ll have peace of mind and confidence knowing you’re capitalizing on the best prices possible.
Streamline Your Path to Optimal Cost Optimization
With market conditions and trends constantly changing, understanding where your current rates stand compared to your peers can seem overwhelming. LevaData’s eBenchmark™ and Cost Optimizer platform take the complexity and stress out of discount discovery, so you can capitalize on savings opportunities and securely increase your profit margins.
Reach out today to discover how LevaData’s revolutionary, AI-powered solutions will help your organization achieve optimal cost optimization today.
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