According to a recent press release, “Privately held LevaData today announced the debut of the Cognitive Sourcing Maturity Model Assessment, a process and performance auditing tool geared to enterprise teams exploring digital transformation and seeking the exponential impact of AI-enabled direct materials sourcing. LevaData’s maturity assessment analyzes organizational structures, sourcing strategies, RFQ processes and negotiations in light of sourcing technology’s integrated role in manufacturing, engineering and finance. Maturity assessments take a holistic, 360-degree look at the enterprise, benchmarking strengths and needs against a series of key capabilities to qualify for one of five levels of performance.”

The release goes on, “Conventional maturity models for direct materials sourcing evaluate procurement in terms of outdated capabilities and enabling systems. Today’s maturity models, however, must address the tremendous advances in technology that have transformed the manufacturing world in the last ten years. Assessments that focus on concepts such as “upstream” versus “downstream” rely on traditional metrics like spend under management and do not address impaired agility and opportunity risks hidden by siloed data, fragmented ERP systems, and different product management systems. ‘LevaData’s Cognitive Sourcing Maturity Model is unique because it captures the impact of contextual market intelligence on sourcing professionals’ decision-making and their ability to leverage open-source analytics, machine learning, and AI-enabled insights with cross-functional teams,’ explained Rajesh Kalidindi, Founder and CEO of LevaData.”

Read more at Business Wire.

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