Sourcing inefficiencies are common among large industrial companies, and addressing these inefficiencies represents a quick cost saving opportunity.
The main constraint lies in your ability to process your data quickly and reliably.
With SCHEF, our AI-powered tool, in no more than 3 weeks from the receipt of data, you will be able to make decisions on where to realize cost efficiencies in procurement without impacting the continuity of your operations.
SCHEF rapidly identifies Quick Hits opportunities, that can get you immediate cost reduction through levers like the rationalization of pricing and terms, and reduction of complexity in your demand, all without disrupting operations.
How is SCHEF AI able to do this?
SCHEF AI uses Artificial Intelligence to enrich raw data, understand semantics and extract information quickly in order to:
- Step 1: Categorize and classify expense transactions
- Step 2: Rationalize SKU items, by clustering them and extracting necessary procurement information
- Step 3: De-duplicate and group vendors and products
Which are the main benefits?
- Cost savings through reduced price variance and normalization
- Effective control over your procurement spend thanks to de-duplication of entities
- Reduced effort in procurement through SKU clustering and rationalization
- Faster time with powerful insights