Purchasing: Machine Learning for Cost Optimisation
In the past, a lack of transparency and changing pricing structures often presented purchasing departments with challenges: When is the cheapest time to buy? Who is the best provider and on what terms should we agree? With a targeted use of machine learning algorithms, relevant company data (purchasing conditions, stock levels, etc.) can be blended with general market data (seasonal events, weather forecasts, etc.). Results provide answers to these critical questions and purchasing decisions can be made successfully. Furthermore, machine learning is easy to detect the change in customer preferences and market conditions at an early stage. For example, this allows sales forecasts to be adjusted in real time and stock levels can be planned in line with requirements and in an environmentally conscious manner.
Our features for your success:
Recognition of legalities and development of solutions on our machine learning platform
Automated customised and validated algorithms
Machine Learning Workshops of our experts for your employees
Data-based purchasing strategy for margin optimisation
Long-term consideration of market data for early trend detection