PLEASANTON, Calif.--(BUSINESS WIRE)--In a bold move to transform how global manufacturing companies source their direct materials, LevaData announced its “Billion Dollar Part Challenge.” LevaData will unleash its industry-leading AI-powered supply management platform with the goal of finding a billion dollars of cost savings for global manufacturers.
This challenge launches at an exciting time for the company. LevaData recently announced the release of new features providing its customers with a significant upgrade for acquiring spend intelligence and lead time visibility. True to LevaData’s mission of empowering companies to make the smartest sourcing decisions for their direct materials spend, the new capabilities further differentiate the company’s AI-powered spend intelligence platform from other solutions on the market by providing uniquely deep insights down to the parts and ingredients level.
To join the challenge, interested supply chain and procurement professionals simply need to submit Manufacturing Part Numbers (MPNs) on the LevaData website. Participants will also receive a complimentary contextualized cost and risk insight report including potential cost savings. Once the billion dollar cost savings goal is achieved, LevaData will donate $10,000 to a supply chain-related nonprofit organization.
As Keith Hartley, CEO of LevaData said, “The Billion Dollar Part Challenge directly supports our vision for fueling economic vitality and health for all global supply chains. It’s our privilege to assist companies with identifying immediate cost benefits with clear and contextualized data served up specifically to their MPNs. We will continue our mission to transform supply chain sourcing for good, freeing up cash for our manufacturing clients to reinvest in their people and the communities they work in.”
LevaData will share progress toward the $1B goal on its website. There is no cost for companies to participate.
The final results will be announced at Digital Procurement World, the leading technology event, which will take place in Amsterdam on October 11–12, 2023.
About LevaData
LevaData’s integrated, AI-powered supply management platform is transforming direct material sourcing and enabling companies to manage costs 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 through its transformational and predictive insights. Customers include large and complex enterprise companies and small and medium-sized manufacturers seeking to achieve best-in-class supply management practices. For more information on LevaData, visit levadata.com.
