Analytics is hot! According to the 2019 Deloitte Global CPO Survey, analytics is the technology that CPOs believe will have the most impact on their businesses over the next two years. And there is no shortage of vendors wanting their piece of the pie. New analytics vendors are emerging both in the traditional spend analysis space but also in more specialized areas.
One such specialist vendor is Part Analytics.
It focuses on analyzing bills of materials (BOMs) to help identify savings opportunities and drive compliance. The two founders, Jithendra Palasagaram and Jesil Pujara, have more than 25 years of experience in procurement and engineering at organizations such as GE Healthcare and Schneider Electric.
They founded Part Analytics with the intention of digitizing manual Excel-based processes and enabling data-driven analytics of, at least initially, electronics BOMs to help identify savings opportunities and risks. This was partially fueled by their experience of the disconnect between OEMs and EMSs (electronics manufacturing services) where the OEMs often have limited insight into specific component costs that then go into larger assemblies.