Global Elevator Manufacturer: AI-Enhanced Procurement Transformation
Achieving a 25% reduction in procurement cycle time
Client Overview
Our client, a leading global elevator manufacturer, faced challenges in their procurement processes that were hindering efficiency and cost-effectiveness. With operations spanning multiple continents and a complex supply chain, they needed a solution that could streamline their procurement cycle and reduce costs without compromising quality.
The Challenge
The client was grappling with:
- Extended procurement cycles leading to production delays
- Inconsistent supplier evaluation and selection processes
- Lack of real-time visibility into procurement status and spending
- Manual, error-prone processes for purchase order creation and approval
Our Solution
We implemented an AI-driven Jaggaer integration to optimize the end-to-end procurement process:
- Intelligent Supplier Selection: AI-powered analysis of supplier performance, pricing, and reliability
- Predictive Analytics: Machine learning models for demand forecasting and inventory optimization
- Automated Purchase Order Processing: RPA for streamlined PO creation, approval, and tracking
- Real-time Spend Analytics: Centralized dashboard for procurement insights
- Smart Contract Management: NLP for contract analysis, risk identification, and optimization
Results and Impact
- 25% reduction in procurement cycle time, accelerating production timelines
- 15% cost savings through optimized supplier selection and negotiation
- 30% improvement in supplier relationship scores
- 40% reduction in manual data entry errors
- Real-time visibility into 100% of procurement spend
"Niya Consulting's AI-driven procurement solution has transformed our operations. We've not only seen remarkable efficiency gains but also a significant improvement in our bottom line. Their innovative approach and deep understanding of our industry were key to the project's success."
- Chief Procurement Officer, Global Elevator Manufacturer
Long-term Impact
The success of this project has positioned our client at the forefront of procurement innovation in the manufacturing industry. The AI-enhanced system continues to learn and improve, promising even greater efficiencies and cost savings in the future.
By embracing cutting-edge technology and reimagining their procurement processes, our client has not only overcome their immediate challenges but has also laid the groundwork for sustained competitive advantage in a rapidly evolving global market.