Goal of SourcingAI is to enable procurement organizations to focus on business centric activities by buying back time to focus on procurement strategies and policies while we help optimize guided sourcing. BLOCKnit's collaborative integrations can help organizations scale, become more agile by removing many optimization obstructions in sourcing.
Most common Sourcing challenges include:
Multiple procurement sourcing systems types
Disjointed procurement policies and strategies
Management of margins, vendors and purchasing processes
Why does an organization face Strategic Sourcing challenges?
Dissimilar Sourcing Systems
Non-unified procurement process
Information overload of non-contextual data
Hybrid ERP environment
Budgets and compliances as moving targets
Management Challenges
Inaccurate forecasting of demand
Unknown margins in sales volumes
Selection of vendors by instincts
Manual management of purchasing process
Non-Uniform User Experience
Lack of feature uniformity across multiple systems
Difficult change management
Unmanageable change management
Users not encouraged by high learning curves
How do we address Strategic Sourcing Challenges through AI ?
SourcingAI solutions untangles procurement processes by using AI to correctly expand, optimize, enhance and digitally automate vendor and items realization through deep insights into opportunities thus helping procurement organizations experience a collaborative strategic sourcing.
Guided Sourcing with dynamic compliance
Context-Sensitive information for procurement functions
AI-Powered objective-determination for mapping correct context-sensitivity
Maximum realized self-served procurement with integrated systems
Value through Data-Driven Intelligence
Save on Bottomline Expenses through Data Insights
Reduced time on Sourcing specification visibility, predictive modeling and insights
Automated Price determination based on historical and real-time bid data
Higher process Efficiency through AI-enabled, context-driven suggestive actions
