SAN JOSE, Calif.--(BUSINESS WIRE)--LevaData––the industry-leading supply management company that is transforming direct material sourcing with its integrated artificial intelligence (AI) platform for cost and risk optimization––announced today that Octopart, a search engine for electronic components and industrial products, has joined its ecosystem of data partners. The collaboration between the companies adds to the robust, industry-leading manufacturing insights that LevaData customers value to be able to make rapid, intelligent sourcing decisions.
LevaData provides comprehensive and contextual insights on direct material sourcing through a unique combination of third-party insights, community data, and artificial intelligence. With LevaData’s platform, procurement teams can confidently make fast, smart, and cost-effective supplier decisions that improve margins, reduce risk, and ensure supply continuity.
The partnership with Octopart adds to the robust insights LevaData customers have on all of the components they need to source, including stocking information, price breaks, lead times, minimum order quantities, and more to maintain and optimize supply continuity with alternate sources in the face of market volatility.
“Global supply chains are now in a constant state of market volatility—and without robust, real-time data, businesses are unable to quickly and intelligently make decisions to obtain the parts they need when they need them at the best price,” said Rajesh Kalidindi, founder and CEO of LevaData.
Dan Schoenfelder, CEO of Octopart added, “Partnering with LevaData allows Octopart to help supply chain teams successfully navigate today’s fast-paced market by making component information more accessible in LevaData’s leading platform.”
“Our partnership with Octopart expands our data ecosystem, providing the valuable insights supply chain leaders desperately need to gain a competitive edge in the volatile market we see today,” Kalidindi added. “Although businesses are struggling with inflationary pressures and fluctuating demand, we provide a new level of visibility that gives procurement the power to become a key differentiator and growth engine for companies.”
About LevaData
LevaData’s integrated, AI-powered supply management platform is transforming direct material sourcing and enabling companies to manage cost while reducing risk. We power the smartest supply chains in the world by constantly analyzing business objectives against real-time market activity and community intelligence. We are trusted to deliver improved margins, control risks, generate new product velocity, and achieve multi-tier supplier engagement with purpose-built tools for quick collaboration and decisive actions. LevaData creates a competitive advantage with transformational and predictive insights. Customers include large and complex enterprise companies and small- and medium-sized OEMs seeking to achieve best-in-class supply management practices. For more information on LevaData, visit levadata.com.
About Octopart
Octopart is the preferred search engine for electronic components. Our mission is to be the most trusted, comprehensive, and accessible parts database in the world for anyone and everyone who works with electronic parts data. Today, millions of engineers, scientists, and sourcing professionals use Octopart tools to quickly access a comprehensive, up-to-date library of electronic parts data to aid their work from the beginning of a design through fabrication.
