An Intellyx Brain Candy Brief
SourceDay helps brands and manufacturers deal with supply chain shocks and demand uncertainty by predicting inventory requirements and optimizing complex supplier relationships, using machine-learning-powered workflow automation alongside real-time and historical sourcing data from a massive supplier network.
Rather than attempting to make another ERP, their multitenant SaaS solution picks up each touchpoint and task between suppliers and manufacturers after a PO is generated. The goal is to improve on-time delivery in order to reduce the need for inventory buffers. Data needed for supplier optimization might get passed through an API or an older EDI-based system, and often includes unstructured data like emails, spreadsheet bills-of-materials, and even paper that needs to be digitized before it can be acted upon and sent back to systems of record.
SourceDay has more than 100,000 supplier users on their supplier portal, submitting more than 10 million purchase orders a year, and more than half of those orders will need to be adjusted before they are settled, according to a handy quarterly Supplier Volatility Index they put out. [I just love that s&#*, check it out.] They have an engagement team to help suppliers onboard for their customers, wherever they are in the technology maturity curve.
ERP partners such as Epicor, Infor and Netsuite can use this outside data from suppliers in order to produce their own AI-assisted end-to-end demand and production forecasts. When global economic conditions and customer sentiment are uncertain, supplier decision models should rely on rich contextual supplier data that includes material and item specifications, available-to-promise inventory, and the collaboration workflow intelligence necessary for conducting transactions with necessary oversight and approvals.
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