Digitizing Direct Material Spend Analytics and Negotiation Process for Emerson, earns Part Analytics Best-in-Class recognition for Supply Chain
Part Analytics, a leading Direct Materials Supply management software provider, announced that Supply & Demand Chain Executive, selected Part Analytics as a recipient of the Top Supply Chain Projects Award for 2022.
The award recognizes innovative transformation projects that deliver bottom-line value to small, medium, and large enterprises across a range of supply chain functions. Part Analytics earned its SDCE Top Supply Chain Projects Award for implementing cloud-based direct material supply management platform, for Fortune 500 technology leader, Emerson. Emerson selected Part Analytics platform to digitize quarterly pricing and negotiation process with Electronics Manufacturing Services (EMS) suppliers. According to SDCE, this year’s winners were focused on overcoming supply chain obstacles, creating greater efficiencies, and transforming organizations to address an ever-changing landscape.
Through implementation of Part Analytics’ Executive IQ, BOM IQ, Part IQ and Category IQ modules, Emerson’s corporate Electronics commodity team digitized quarterly pricing and negotiation process with EMS suppliers thereby delivering:
- 90% reduction in time spent on reviewing and analyzing pricing data from EMS suppliers
- 27% more savings opportunities compared to manual process with excel and email
- Empowering sourcing team to focus on strategic activities vs spending time on data collection, cleansing and analysis
- Seamless collaboration with internal stakeholders (Business Segment Sourcing teams, Supply Chain teams etc.) and suppliers
With the successful implementation of this project, Emerson has expanded the relationship with Part Analytics to digitize their annual negotiations process with Electronics component distributors and manufacturers using Part Analytics’ supplier collaboration module, RFQ IQ.
“We’re honored that Supply & Demand Chain Executive selected Part Analytics as a Top Supply Chain Project winner,” says Jithendra Palasagaram, Part Analytics Founder and CEO. “Our partnership with Emerson’s Corporate Electronics Supply Chain team, led by Eric Bremer, reflects our daily efforts to propel digital transformation of sourcing and procurement processes. We congratulate our fellow Top Supply Chain Project winners on innovative solutions that continue to drive our industry forward.”
“The past 18 months have been a tumultuous time for U.S. supply chains,” says Marina Mayer, Editor-in-Chief of Supply & Demand Chain Executive and Food Logistics. “But the core reason today’s supply chains haven’t completely fallen apart is because solutions providers have been working diligently to partner with customers and clients to streamline processes, implement emerging technology and deliver results that improve bottom lines and the environment. For many of these collaborations, it’s about achieving full visibility, complete forecasting, end-to-end leverage and the ultimate in sustainability.”
To view the full list of 2022 Top Supply Chain Project winners, visit sdcexec.com.
Visit partanalytics.com to see how Part Analytics is revolutionizing the way technology drives direct materials supply management.
About Part Analytics
Part Analytics is a supply chain software startup on a mission to transform the way manufacturing companies manage direct materials and to make supply management less painful. The company uses Artificial Intelligence to reduce costs, identify hidden risks and accelerate product development for global manufacturing companies.
About Supply & Demand Chain Executive
Supply & Demand Chain Executive is the only supply chain publication covering the entire global supply chain, focusing on trucking, warehousing, packaging, procurement, risk management, professional development and more. Supply & Demand Chain Executive and sister publication Food Logistics are also home to L.I.N.K. and L.I.N.K. Educate podcast channels, L.I.N.K. Live, SCN Summit, SupplyChainLearningCenter.com and more. Go to www.SDCExec.com to learn more.