ProcureSmart
How it works
Procurement data is pulled from existing data source (ERP system/Legacy system)
Data is moved to power BI and converted to a algorithm friendly format
Data is trained in azure machine learning to identify vendor rating
Trained algorithm is deployed in Power BI
Vendor rating is performed and is refreshed with every new set of data.
User enters the material code in Power BI Dashboard for which the PO is to be placed. The system will provide the potential vendor codes, their key periofrmance data and finally their rating generated by our algorithm.
The system will provide the potential vendor codes, their key performance data and finally their rating generated by algorithm.
The product is sponsored by Microsoft under founders hub program. To view this product on Microsoft Azure market place click below
How does this tool helps?
AI enabled vendor rating tools lets you choose the best vendor determined by our AI algorithm based on procurement cost, lead time, quality and service delivery. It is suitable for bulk purchase items e.g. spares, consumables which can be served my multiple vendors. the requirement comes on frequent basis and you do not go for RFP and RFQ route due to bulk nature of purchase. This tool makes life of purchase officer easier by recommending him the most suitable vendor along with all analytics insights. The data needs to be refreshed with latest vendor data every week so that accurate rating is available. The solution is designed to reduce procurement cost, lead time and rejection rate each by 20%. Actual results may vary slightly depending on existing data.
What is the perquisite for this algorithm?
You need to have atleast 1 year of procurement data for the materials in any enterprise software or any other legecy system. IT requirement will include Power BI and Azure machine learning license.
Do you follow any point based rating system to rate the vendors?
We do not follow any rule based point system to rate vendors but our propriety AI algorithm to decide the vendor rating. Effectivenss of rule based rating is very low in comparison to AI based rating system.
Is this a plug and play tool?
This not nopt a plug and play tool and needs to be implemented for the client. Approximate implementation time can be around 1 month.
Where I can buy this product ?
The product is available on microsoft Azure marketplace and its development is supported by microsoft under microsoft founders hub program. You can click here to visit azure market place. or
Go to https://azuremarketplace.
Alternatevily write directly to info@ailytx.in to explore more.
Contact for a free demo