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Connect with us to discuss how we can assist you with using analytics and AI to lower supplier costs.
Business Challenge
Input costs from suppliers are increasing
The challenge you face
- Supplier costs are increasing.
- The business has difficulty in determining which supplier offers the best price for each product.
Implications of not addressing the challenge
- Increased input costs and cost to serve.
- Lower margins.
What does success look like
- The business has an up-to-date view of which suppliers offer the best deals for which inputs and for what level of quality and delivery experience.
- Selection of suppliers is based on data analysis and is not subjective.
- The cost to serve known and is kept at a minimum.
Algonomix solution
- Make use of analytics to compare supplier prices for similar products and services.
- Use AI (machine learning) to automatically detect anomalies in supplier pricing.
- Where prices are available online, use web scraping bots to extract supplier prices.