FAQs

LevaData's Al-powered supply chain management platform enables supply chain and procurement teams to transform their direct material sourcing. The platform utilizes sophisticated Al algorithms and data-driven decision intelligence to provide actionable insights, mitigating risk at the part and supplier level, reducing costs, improving decision-making, and enhancing supply chain efficiency.567

The five key benefits of LevaData’s platform include the following:

Supply Chain Visibility: Gain real-time visibility into your supply chain, including supplier performance, risk assessments, and demand forecasting.

Sourcing Optimization: Identify the best suppliers to source your parts and materials and get the data-driven insights you need to negotiate optimal pricing.

Cost Management: Analyze costs across all your direct material spend, quickly identify savings opportunities, and get the information needed to act immediately.

Risk Mitigation: Proactively identify risks for all your standard and custom parts as well as your supplier sand implement strategies to minimize disruptions and ensure continuity.

Team and Supplier Collaboration: Increase productivity with your teamand efficiency with your suppliers as you streamline processes for better, faster results.

LevaData employs sophisticated AI and machine learning algorithms to process vast amounts of data from company, market, and community sources. Powered by AI, LevaData’s platform contextualizes and analyzes historical data, current trends, market dynamics, and other relevant factors to generate predictive insights and actionable recommendations.

Unlike other solutions on the market, LevaData enables sourcing teams to assess and manage risks down to the commodity or part level for both standard and custom parts. LevaData’s proprietary part risk intelligence incorporates factors like cost, supply continuity, and lead times so sourcing teams can identify and proactively mitigate risks before they occur, saving invaluable time and resources.

LevaData identifies cost-saving opportunities with its proprietary methodology blending company and supplier data and benchmarking prices from over 117 data sources. The platform optimizes sourcing decisions, negotiating better pricing, reducing excess inventory, and optimizing overall supply chain costs.

LevaData’s platform and proprietary technology is built on AI, blending and contextualizing data to help supply chain, procurement, and product teams make better decisions faster. LevaData is reinventing how companies source their direct materials by providing the insights and intelligence they need to do their work with higher velocity and greater accuracy and results. This is the future of supply chain sourcing in action today.

There is a lot of hype around AI right now. LevaData’s easy-to-use AI-powered platform provides measurable value in every part of the platform. AI combs through massive amounts of aggregated and contextualized data to alert teams when things change (down to the MPN level across vendors) so teams can make better decisions about part pricing and avoid shortages. With the granularity of our data, LevaData knows more about your parts, plastic resins, metals, and other ingredients than anyone else.

LevaData has been using AI for years to get unstructured data into our platform. We process, clean, blend, and contextualize billions of pieces of spend, market, supplier financial health, materials, and customer data so we can share it rapidly in a context that makes sense to our customers. Our models and algorithms do the following:

• Involve constant and iterative review of part numbers, descriptions, and names to constantly update mappings of component classifications and company name normalization.

• Are continuously detecting anomalous values (e.g., prices and lead times) to ensure our customers andLevaData maintain optimal data integrity, so customer spend aggregations are correct and market trends and benchmarks are using the best data points possible.

Procurement professionals have been massively underserved for years. No one thinks twice about providing marketing teams with CRM tools and finance teams with ERP platforms. But procurement teams are stuck using spreadsheets and email. So, AI is helping transform procurement, providing procurement professionals ways to directly add more value to a company’s bottom line. It not only unearths millions in savings but also provides real career progression opportunities that did not exist before.