Sourcing

Getting visibility to sourcing history for similar parts is important for identifying suppliers with the right capabilities and to understand costing data. Because sourcing focuses on finding the best and least expensive suppliers, it is imperative to have complete access to this information in order to maximize company profits.

By using VizSeek, visual and shape search, procurement engineers can find parts that they’ve previously sourced without worrying about what the part is called or the name of a supplier in their supply chain. Since procurement engineers typically don’t have access to the 3D CAD models, the best way to search visually would be to simply upload a photo, hand sketch or 2D drawing of the part needed, to find similar parts in the sourcing database. When the matching parts are returned, the engineer can then review the procurement data to identify the best supplier, cost, timeline and quality. This important information can be used to make a smart and profitable purchase.

Impact

- Enables cost efficient sourcing decisions.

- Identification of suppliers who have the right capabilities, promoting supply chain collaboration.

(As per Bain & Co. This can result in up to 4% improvement in operational margin)*