mysupply is an automated sourcing platform that utilizes AI-driven intake specifications and smart negotiation techniques to streamline the procurement process. By reducing operational procurement efforts by over 50% and increasing savings by more than 8%, it enables organizations to efficiently manage tactical and tail spend while empowering requesters to source independently.
Funding
Funding not disclosed
Founders
Product
Problem
Many organizations face challenges in efficiently managing tactical and tail spend, leading to increased operational costs and missed savings opportunities. Traditional procurement processes often involve manual, repetitive tasks that consume valuable time and resources. This can result in reduced focus on strategic procurement activities and hinder overall business performance.
Solution
mysupply is an AI-powered sourcing platform designed to automate and streamline the procurement process, specifically targeting tactical and tail spend. The platform employs AI-driven intake specifications to accurately define demands and uses smart negotiation techniques, including game theory, AI bots, and eAuctions, to secure optimal pricing. By automating key steps, mysupply reduces operational procurement efforts by over 50% and increases savings by more than 8%. The platform offers modules for AI-driven buying assistance, automated sourcing, and autonomous sourcing, providing a comprehensive solution for efficient procurement.
Target Audience
mysupply targets procurement experts seeking efficiency, procurement leaders looking to innovate, and organizations aiming to optimize their tactical and tail spend management.
Features
- AI Buying Assistant: Guides requesters with smart questions to define demands and directs them to the appropriate buying channel.
- Catalog/Contract Buying: Automatically checks live catalogs and contracts for matching items to streamline the buying process.
- Self-Service Sourcing: Empowers requesters to source independently while adhering to procurement guidelines.
- Automated Sourcing: Automates sourcing processes for increased efficiency and savings.
- Autonomous Sourcing: Automatically handles the procurement of repetitive goods and services.
- Smart Negotiations: Employs game theory to set negotiation methods and uses AI bots and eAuctions to execute negotiations effectively.
- Integration: Integrates with existing systems such as SAP Ariba and S/4HANA.