Is procurement ready to unlock significant optimization potentials with the help of AI?

In the dynamic global sourcing and supply chain landscape, geopolitical tensions, natural disasters, and unforeseen disruptions can send shockwaves through supply networks, leaving procurement leaders grappling with complex challenges. As organizations strive to navigate this intricate web of supply lines, one invaluable asset often remains underutilized: data.

Specifically, the hidden (dark) data pertaining to materials and their associated costs and supply risk holds the key to unlocking a treasure trove of untapped potential for procurement.

BearingPoint advises organizations to leverage hidden material data and enhanced supplier data to achieve full spend visibility considering price and supply risk.

Curious?​

Approach us or download our “Playbook” to learn how data-driven insights can empower procurement executives to optimize their tactical sourcing strategies for significant material price reductions.

Access our Playbook​

A revolution in parts sourcing with dark data

Utilize the untapped potential of dark data with our AI-powered Cost Optimization Engine for Buy-Parts, a secure platform designed to learn from material data and drawings to break down the cost structure of your sourced parts and components.

After a joint scoping workshop, we upload your component drawings in 2D and 3D formats and your PLM and ERP data to leverage our AI algorithms to execute a similarity and linear performance pricing analysis. We extract essential data points and compute target prices for your parts, equipping you with data-backed decision-making tools. Empirical evidence shows that annual spend savings between 8% and 14% can be achieved within six months.

Our AI system consistently refines its cost-analysis methods, enhancing your negotiation skills and optimizing your supplier selection process. In addition, we achieve up to an 80% reduction in master data processing time and swiftly identify relevant engineering components that require data enhancements. Collaborating with BearingPoint furnishes your procurement operations with specialized expertise and innovative AI capabilities, yielding a streamlined, cost-efficient, and highly tailored data-driven procurement strategy.

Download our Playbook

Data Analytics: More than just numbers

But what about the other money you’re spending? That’s where our Spend Navigator comes into play. In today’s increasingly data-driven procurement landscape, the importance of actionable insights cannot be overstated.

With its focus on user-friendly, out-of-the-box functionality, Spend Navigator empowers your procurement team to identify cost-saving opportunities, streamline supplier negotiations, and make data-informed strategic decisions. The tool offers a 360 view of your organizational spending patterns and uncovers inefficiencies and untapped savings potential. Spend Navigator is your front-line solution for advanced spend analytics and is supported by a seamless back-end process using AI technology that ensures data quality and integrity so you can confidently make decisions.