LevaData,
the company that delivers applied AI to transform strategic sourcing and
procurement, today announced the launch of LevaData NPI (New Product
Introduction), a solution extension of the LevaData Cognitive Sourcing
Platform. Designed and built for enterprise manufacturing companies,
LevaData NPI offers industry-first supply chain insights and actionable
guidance to product planning, launch and introduction teams. LevaData
NPI applies artificial intelligence (AI) to direct procurement data and
integrates analyst findings and benchmarks, as well as enterprise buyer
and seller activity on the LevaData procurement network, in order to
identify opportunities for NPI teams to achieve target cost goals and
greater agility while decreasing manufacturing risk and increasing
profit margins.
An estimated 60-80% of product cost is “locked in” during the design
stage, and, given strict supplier onboarding and production deadlines,
NPI teams at enterprise manufacturing companies frequently lack the time
and insights needed to optimize parts, suppliers and target costs for a
given Bill of Materials (BOM). This is because design BOMs are often
completed late in the product launch process due to the time and effort
required to collaborate across departments and typically suffer from
missing information and inaccurate data. This results in a lack of
visibility into a product’s true lifecycle cost.
However, AI-driven insights from NPI and the LevaData platform enable
enterprise manufacturing companies to fill these gaps in knowledge,
empowering their NPI teams to develop a comprehensive BOM analysis early
in the launch process. With LevaData NPI, teams can significantly
improve gross margins over a product’s complete lifecycle by identifying
current and future cost savings opportunities. The LevaData NPI solution
also alerts users to potential “risk drivers,” such as identifying the
use of end-of-life (EOL) parts, items sourced from a single supplier,
and any supplier that may have future production issues based on factors
such as financial health, quality ratings and location-based risks.
In addition to mitigating part-level risks, LevaData NPI helps teams
manage program-level risk by notifying users about upcoming deadlines,
including outstanding items and tasks, as well as advising LevaData NPI
users on the status of program Key Performance Indicators (KPIs) and
phase gate review milestones. NPI identifies these issues and recommends
remedial action before production decisions are made, ultimately saving
time, money and frustration during the new product introduction process.
LevaData NPI also integrates with other software tools used by teams
outside of the NPI process, including popular product design and product
lifecycle management (PLM) solutions. The NPI solution enables
cross-functional collaboration across product operations, supply chain,
finance, and procurement to serve as a “single source of truth” for
rolled-up cost, design changes and project status across the enterprise.
In addition to enhanced communication, the NPI module helps automate
manual processes, facilitates scalable BOM ingestion and onboarding of
new suppliers, and reduces analysis time by generating thorough reports
on the part, product or commodity level.
“We understand that launch teams work under tight time and cost
deadlines and that they’re constantly pressured to scale productivity
and improve collaboration across functions,” said Rajesh Kalidindi, CEO
of LevaData. “We’re excited about our new NPI solution because it
represents an industry-first approach to address critical margin and
risk considerations prior to release to manufacturing. NPI delivers a
powerful competitive advantage to manufacturers because it offers real
supply chain insights during the product design and development stage –
not after the fact. The results include greater savings and efficiency
throughout the entire product lifecycle.”
NPI to Debut at Gartner’s 2019 Supply Chain Executive (SCE) Conference
NPI will make its industry debut at the Gartner
Supply Chain Executive Conference 2019, being held in Phoenix May
13-16, 2019. LevaData will demonstrate the capabilities of the NPI
module at Booth #100 at SCE, which is one of the supply chain sector’s
largest and most significant events. SCE will focus on the convergence
of the physical and digital supply chains and feature a track dedicated
to sourcing and procurement. LevaData is a Silver event sponsor, and
LevaData executives and solution specialists will be on hand to share
knowledge with industry peers.
About
LevaData helps global enterprises improve gross margins by reducing
supply chain costs, with a focus on delivering measurable and
accountable supply chain solutions and strategies that transform
companies. The unique LevaData Cognitive Sourcing™ Platform allows
customers to sense, recommend, act, and learn. Customers include leaders
in the top global supply chain organizations, as well as medium-sized
OEMs seeking to achieve best-in-class direct materials sourcing
practices. LevaData is headquartered in San Jose, California. For more
information, visit www.levadata.com.
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