SourceDay, the leading supply chain collaboration platform transforming procurement, launched SourceDay Intelligence, a patent-pending artificial intelligence (AI) and machine learning (ML) platform that enhances buyer decision-making by enabling proactive risk management, recommending smarter resolutions, and facilitating scalable automation.
With up to 70% of supply chain issues arising before shipment, SourceDay Intelligence gives manufacturers and distributors greater control of their procurement processes, as they are now able to automate low impact Purchase Orders (PO) tasks, which diminishes the risk of human errors.
“Supply chain management is at a critical inflection point for manufacturers and distributors,” said Tom Kieley, CEO of SourceDay. “SourceDay Intelligence serves as the gateway to a more predictive and automated supply chain, strengthening companies’ ability to both compete and increase operating margins and revenue.”
SourceDay’s advanced data models leverage its proprietary dataset across the PO Lifecycle for faster decision-making on critical supply chain vulnerabilities, including lead time risk, proposed change risk, missing acknowledgment risk, and email issue risk. The dataset utilizes protected information and activities from more than 97,000 suppliers, 100 million annual PO updates, 5 million mastered items, $59 billion in direct materials spending, and 75 million messages to and from suppliers… all processed through SourceDay’s platform.
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SourceDay’s PO Lifecycle dataset is the most comprehensive in existence, enabling the company to thread actionable intelligence points throughout its platform to drive impact for customers, including:
- Addressing risks proactively rather than reactively by taking preventative actions earlier in a PO’s lifecycle.
- Recommending solutions based on what actions are most likely to result in the best outcome for that specific risk and customer.
- Allowing users to configure and customize workflows, then monitoring the impact of the automation.
“Decades of experience and a unique dataset have enabled us to create SourceDay Intelligence. Our patent-pending AI and ML models help customers solve problems across the supply chain using best-in-class, risk detection and recommendation algorithms. Customers will now have the ability to make and act on tailored observations powered by their own protected data and uncover risk blind spots that often go undetected when using other systems,” said Michael Miller, COO of SourceDay. “SourceDay Intelligence reinforces our Risk Management roadmap and will continue to be integrated throughout our solutions in the future.”
Source: GlobeNewsWire