Meet Leva: Your Cognitive SourcingTM Advisor
Leva is an intelligent advisor built on our cloud-based Cognitive Sourcing™ Platform. It applies artificial intelligence and predictive tools to both market intelligence and enterprise procurement data sets. Leva is on a constant, real-time search for savings opportunities and supply chain risks. It recommends what you should negotiate – and exactly when – for maximum leverage. With Leva, your business can take strategic actions that transform sourcing into a competitive advantage. These are Leva’s skills:
Leva scans market intelligence sources—including exchanges, benchmarks, and news feeds—as well as all relevant internal enterprise data, in real time. This allows Leva to proactively uncover supply chain risks and saving opportunities.
Gain 360° Visibility
The foundation for Cognitive Sourcing is complete, real time visibility. Leva provides a 360° perspective, harmonizing your internal view of enterprise information with relevant external insights, across multiple tiers of your supply chain.
- Actively discovers new sources of insights, correlating to impacted areas.
- Personalized to your role and scope of responsibilities, dynamically filtered by product, commodity, region, organization, or supplier focus.
- Consolidates both enterprise information systems (PLM, ERP, data warehouses) and market intelligence (benchmarking, commodity trends, news, etc.) in a harmonized model.
Value to You
- Transforms productivity by providing a unique “single source of truth,” eliminating the inefficiency of discovering, validating, aggregating, and filtering data from multiple sources.
- As more cross-functional teams adopt Leva, your organization overcomes “data quality” barriers to trust, accelerating response to market opportunities and risks.
Leva predicts the impact of market dynamics and internal spend drivers across suppliers, parts, products, commodities, and regions. Anticipate emerging shifts and enable proactive decisions, months ahead of your competition.
- Evaluates leading indicators and correlated factors to provide predictions on changes in part costs, product margins, supply constraints, supplier financial risk, and sub commodity trends.
Value to You
- Make proactive decisions to avoid cost pressures, minimize new risks, or lock-in savings.
- Creates sustainable competitive advantage in dynamic markets, ensuring improved profitability and service levels.
Leva expands how you benchmark your performance in completely new ways. You can incorporate new intelligence from a variety of sources, such as part matching, community trends.
- Delivers consolidated market benchmark cost information (across parts, sub commodity, and raw materials) providing unique intelligence on price ranges and potential target savings opportunities.
- Compares manufacturing part numbers against a database of 450 Million standard parts as well as community intelligence from over $50 Billion in annual spend.
Value to You
- Identify new savings opportunities through previously unavailable “outside-in” insights.
- Anticipate price, supply, and demand changes to gain a competitive advantage in sourcing strategies.
- Consolidate disparate market intelligence sources into a common platform for consolidated benchmark analysis.
From the risks and opportunities identified by the Sense skills, Leva recommends strategies to maximize negotiation outcomes. With one-click, Leva can generate negotiation playbooks. You’ll know which levers to pull during a deal—and when—for optimal results.
Exploit Opportunities and Risks
Leva constantly explores all relevant information sources, intelligently identifying emerging risks and opportunities as changes occur, and directing them to the relevant team members for review and action.
- Opportunities and risks are driven by multiple sources of insights: benchmark price changes, sub-commodity trends, raw material input cost volatility, demand changes, or community intelligence.
- Each risk or opportunity is “right-sized” for immediate response, including estimated cost impact, timeframe, and recommended actions.
- Tracks which opportunities and risks are acted on and what the outcomes are, learning from this to improve quality and accuracy in identifying new risks and opportunities.
Value to You
- Increase organizational responsiveness and supply chain agility.
- Avoid supply chain disruptions or mitigate the impact of unavoidable events through faster identification and response times.
Negotiate with Insight
Leva recommends the best negotiation levers to use for each supplier or scope of spend. It learns from each negotiation over time to improve outcomes and predict probability of target cost achievement in the future.
- Automatically selects the highest impact levers specific spend scope, such as sub commodity, manufacturer, supplier, and related parts, to maximize outcomes.
- Any recommended lever can be applied to both in-person negotiation events through playbooks, and in the context of on-line (RFQ) scheduled or ad hoc events.
Value to You
- Drive consistently improved outcomes for data-driven negotiations, increasing cost savings, volume and lead time commitments.
- Constant improvement – as Leva learns, so does your entire organization. New talent can ramp up and adopt the best practices of the most experienced experts on the team.
With this always-on sensing and recommendations available on demand, Leva enables you to move to continuous sourcing. You can engage with your suppliers in seconds with Leva’s automated assistance. Or you can use its expert guidance to speed up your existing procurement processes.
Quote – Bid – Award
With Leva, users can act immediately on specific recommendations, identified market opportunities, or planned sourcing events. It allows selection of a combination or mix of suppliers, products, and parts for participation in a request for quote (RFQ) process. Leva streamlines the entire quote to award process, including supplier collaboration, status monitoring, and execution of awards in an intelligent and easy to use process.
- Track real-time status based on RFX count, status, and spend mix.
- Coordinates multi-tier RFQs across parts controlled or sourced by both OEM and third-party manufacturing partners.
- Award determination, approvals, and confirmation.
- Simulation of award options based on user-defined rules covering supplier allocation, manufacturing location, category, and time.
- Interactive simulations in the application or offline comparison via downloadable spreadsheet templates.
Value to You
- Maximize savings outcomes from planned or ad hoc strategic sourcing events.
- Increase time to value – respond to market opportunities and risks in seconds vs. weeks or months.
Leva’s optimization algorithms can be used to simulate awards, compare scenarios, and balance tradeoffs to meet multiple goals for the company overall.
- Incorporates rules and target constraints for a variety of sourcing event scenarios, including minimum/maximum numbers of suppliers, minimum lead times, tiered bids, preferred supplier priorities, split and savings goals.
- Review multiple scenarios in minutes, a skill often impossible to replicate in evaluation models based on other tools, such as Microsoft Excel.
Value to You
- Achieve up to 30% incremental additional bottom line cost savings and improved outcomes for suppliers, while respecting multiple service, risk, or other strategic goals.
- Reduce bid analysis time up to 80%, shifting focus on internal collaboration and alignment before communicating awards to participating suppliers.
As Leva Senses, Recommends, and helps you Act, it continuously monitors all actions and outcomes – yours and the wider community’s – to improve itself. Using predictive modeling and machine learning, it discovers how to better sense and generate more relevant recommendations, as well as better support your actions, over time.
- Predictive Modeling
- Machine Learning
- Natural Language Processing