Part Analytics, provider of cognitive sourcing and quoting platform for direct materials, was awarded a 2020 Mexico Technology Award in the category of Software – Management for its AI Driven Spend and RFQ Management. The award was announced during a Virtual Award Ceremony that took place Monday, October 26, 2020.
Supply chain and quoting teams at manufacturing companies have to deal with a staggering amount of ever-changing data which consumes considerable resources when done using Excel spreadsheet, email and predominantly manual processes. Teams end up spending the majority of the time collecting and cleansing data that is static while not leaving enough time for executing opportunities or managing risks proactively. Even the most well-run teams that may have leverage in the market and have invested heavily in internal tools are leaving money on the table by using traditional vs. more sophisticated methods.
Part Analytics’ cognitive sourcing and quoting platform addresses these challenges by integrating and enriching organizations’ internal data with public, market and community data. The Part Analytics AI engine then continuously monitors for savings opportunities and risks such as availability and compliance. Part Analytics turns the data into actionable insights so that supply chain and quoting teams can spend more time on executing opportunities vs discovery. Customers have realized up to 20 percent savings in direct material cost and reduced the time to get BOM costing from 1-2 weeks to less than 30 minutes by using our advanced solution.
Part Analytics’ SaaS platform is the one-stop shop for supply chain, quoting and engineering teams to manage direct material spend, identify savings opportunities, get real-time alerts on risk, and to turn around quotes faster.
The Mexico Technology Awards acknowledge the latest innovations available in Mexico produced by OEM manufacturing equipment and materials suppliers during the last 12 months. For more information, visit www.mexicoems.com/mta-awards.