With increased competition and an increasingly volatile market, it’s getting harder to squeeze additional savings from your direct material spend. That’s why Cost Optimizer is on a constant search for savings opportunities, applying AI and predictive tools to marketplace activity and intelligence sources. Most importantly, it provides the visibility and agility sourcing pros need to focus on high-impact work.
LevaData’s AI-powered platform provides recommendations on when to act and how to optimize negotiations, resulting in millions of savings.
Mickey North Rizza
Program VP, Enterprise Applications & Digital Commerce
We’ve focused on using the insights that LevaData brings to make better decisions in our sourcing strategies. As we did that, we also became more productive. Our procurement and sourcing teams are able to spend more time on strategic projects.
VP, Supply Chain Operations
LevaData’s given us a real grasp of what our spend looks like, where it is, in which categories and by which suppliers. These are all things we used to manage in spreadsheets, so LevaData has really changed how we look at this information.
Global Sourcing & Commodity Manager
Harmonize your view of enterprise information with relevant external insights, across multiple tiers of your supply chain. LevaData consolidates enterprise information systems and data warehouses with market intelligence, including benchmarking tools, commodity trends, and news feeds. Transform productivity with a “single source of truth,” regardless of how many external manufacturers you work with.
LevaData evaluates historical trends and an influx of new information to predict emerging opportunities and potential threats. Anticipate emerging shifts months ahead of your competition with detailed predictions on changes in part costs, product margins, supply constraints and subcommodity trends.
GET SAVINGS ALERTS - DAY OR NIGHT
Risk events don’t follow a quarterly schedule, and neither should your direct materials sourcing. With always-on sensing and immediate recommendations, you can move from discrete sourcing events to a continuous process. LevaData automatically sends alerts to savings opportunities as they arise.
Expand your approach to benchmarking with new intelligence from a variety of sources, such as part matching and community trends. LevaData delivers consolidated benchmark cost information, providing unique intelligence on price range and potential savings opportunities.
Cut time spent on negotiation prep and bid analysis by as much as 80%, and respond to market opportunities in clicks versus weeks. With LevaData’s support of the RFQ process, you can act immediately on recommendations and select a mix of products, parts and suppliers to include.
LevaData provides a real-time view of each situation based on RFX count, status or spend mix. It even coordinates multi-tier RFQs across parts sourced by OEM and third-party manufacturing partners. When you’re ready to award, LevaData provides simulations based on your rules concerning supplier allocation, manufacturing location, category and time.
With built-in quote, bid and award tools, you can act immediately on specific recommendations, market opportunities or planned sourcing events. LevaData streamlines the entire quote to award process, including supplier collaboration, status monitoring, and execution of awards.
LevaData's algorithms can be used to simulate awards, compare scenarios and balance tradeoffs to meet multiple goals. You can set rules and target constraints for a variety of scenarios, including minimum or maximum number of suppliers, lead times, tiered bids, preferred supplier priorities, split and savings goals.
After identifying risks and opportunities, LevaData recommends strategies to maximize negotiation outcomes. Generate negotiation playbooks with one click and receive the most impactful levers, based on intelligence related to the manufacturer, supplier and related parts. The system then learns from each negotiation to sharpen its estimates of target cost achievement in the future. As LevaData learns, so does your entire organization. New talent can ramp up and adopt the best practices of the most experienced experts on the team.
LevaData’s Rapid Value Assessment uses your data to provide a clear illustration of the value Cognitive Supply Management can provide. Within a few weeks, you’ll be able to move towards digital transformation quickly and efficiently, with the confidence that you’ll achieve results.
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