Part Analytics offers an AI-powered sourcing platform that integrates with PLM systems to provide real-time insights on cost optimization and supply chain risks for direct materials. The platform automates manual sourcing processes, enabling teams to reduce component shortages by up to 70% and achieve significant cost savings within months.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Sourcing direct materials is often a manual, time-consuming process that lacks real-time visibility into cost optimization opportunities and potential supply chain risks. This can lead to component shortages, increased costs, and delays in product development and manufacturing.
Solution
Part Analytics provides an AI-powered sourcing platform that integrates with Product Lifecycle Management (PLM) systems to deliver real-time insights for cost optimization and supply chain risk mitigation. The platform digitizes and automates Request for Quotation (RFQ) processes, tail-spend management, and supplier negotiations, enabling sourcing teams to collaborate seamlessly with internal stakeholders and suppliers. By providing a holistic sourcing view with market intelligence, Part Analytics helps companies reduce component shortages, achieve cost savings, and improve operational efficiency throughout the product lifecycle. The platform's BOM IQ functionality delivers prioritized insights in real time, eliminating spreadsheet manipulation and enabling faster product design iterations.
Target Audience
The primary target audience includes supply chain professionals at Original Equipment Manufacturers (OEMs) and Electronics Manufacturing Services (EMS) companies.
Features
- AI-powered platform providing real-time insights on cost, risk, and technical information for component comparison
- Integration with PLM systems for seamless data ingestion and workflow automation
- Part Availability Insights to automatically search for parts and alternative options, with email alerts for shortage list items
- BOM IQ for prioritized BOM insights, risk assessment, and savings opportunities
- Category IQ for spend visibility, savings opportunity identification, and supplier performance benchmarking
- RFQ IQ to digitize manual RFQ processes and automate bid analysis
- Cloud-based platform for real-time visibility and control
- Integration with cloud-based collaboration tools for agile response to supply chain challenges