SAN JOSE, Calif. & MILPITAS, Calif.--(BUSINESS WIRE)--Today we are excited to announce the global partnership agreement between Resilinc Corporation, the leading provider of supply chain risk monitoring and mitigation solutions, and LevaData, the company that delivers applied AI to transform strategic sourcing and procurement, as they help organizations adopt innovative cognitive sourcing to drive competitive advantage and incremental savings opportunities.
The two companies will co-develop innovative solutions that integrate Resilinc’s EventWatch® AI risk monitoring and supply chain visibility data with LevaData’s Cognitive Sourcing™ platform to increase the visibility, agility and performance of global manufacturers. Together, the combined approach will deliver an all-in-one solution that transforms their sourcing and supply chain functions and ensures business continuity plans of supply at the lowest risk and cost.
Key benefits for customers include:
- Advanced supply chain monitoring with AI: proactively reviews 40+ million news articles in 50+ languages annually, including social posts, bloggers, news outlets, and government agencies, to detect any disruptive events based on the user’s profile.
- Global supplier database: users can proactively identify risks with deep insights through Resilinc’s comprehensive database of enhanced supplier profiles, including sub-tier suppliers across 20+ industries.
- Community spend intelligence: gain insights from LevaData’s customer community. Customers can gain proprietary insights across anonymized, aggregated and statistically distributed LevaData’s community of users managing over $60B in annual direct materials spend.
- Insights and recommendations: LevaData’s AI Advisor, Leva, constantly evaluates market intelligence sources, including those from EventWatch, identifies emerging risks and opportunities as changes occur, and directs relevant sourcing and supply chain professionals with recommended actions.
- Optimized sourcing events: Combined with Resilinc supply chain risk insights, Leva can recommend new sourcing strategies and add negotiation levers to optimize sourcing event outcomes, including what to negotiate – and exactly when –for maximum leverage, best cost and lowest risk.
Kevin Purser, VP of Global Supply Chain Sourcing and Procurement at Fitbit, shared his reaction to news of the agreement: “The partnership between Resilinc and LevaData will enable customers to deploy next-generation risk monitoring, detection and response. The combined solution will enable real-time event monitoring at multiple tiers in the supply chain, understand the potential impact on current and future direct materials spend, and accelerate response times to mitigate or resolve.”
“EventWatch AI has evolved from a ‘nice to have’ to a core driver of sourcing and risk intelligence with its native capability to identify with AI all types of disruptive events, from typhoons in Asia to factory fires in South America. EventWatch can monitor, identify and alert, provide mitigation options to our clients within minutes, and collaborate directly with their network of suppliers and sub-tier suppliers,” said Bindiya Vakil, founder and CEO of Resilinc. "We are excited for this partnership, as LevaData brings next-gen products that are complementary to ours and help us enhance our offering to large corporations."
“Combining the scale and coverage of Resilinc’s risk insights with the LevaData Cognitive Platform enables our joint customers to dramatically expand the range of emerging risks related to continuity of supply, cost volatility, financial health and other leading indicators of supplier performance,” said Rajesh Kalidindi, CEO of LevaData.
Resilinc is the leading provider of supply chain visibility data-as-a-service and cognitive risk analytics solutions. Over 100 of the world's leading brands rely on Resilinc's AI-powered global disruption monitoring service to keep track of millions of parts as they make their way around the globe, touching hundreds of thousands of nodes.
Resilinc is the only company to consistently achieve success in mapping the supply chain multiple tiers deep, all the way down to part and site levels, and exposing hidden failure points and bottlenecks deep in the sub-tiers. Resilinc's patented advanced risk quantification algorithms and easy-to-use supplier assessment solutions have established a new standard for measuring supplier risk. Companies use Resilinc's cognitive sourcing and risk protection learning systems to realize millions of dollars in savings on expediting raw materials or freight and lowering inventory levels while keeping their supply chain operating with greater agility and resiliency. For more information, visit https://www.resilinc.com.
LevaData helps global enterprises improve gross margins by reducing supply chain costs, with a focus on delivering measurable and accountable supply chain solutions and strategies that transform companies. The unique LevaData Cognitive Sourcing™ Platform allows customers to sense, recommend, act, and learn. Customers include leaders in the top global supply chain organizations, as well as medium-sized OEMs seeking to achieve best-in-class direct materials sourcing practices. LevaData is headquartered in San Jose, California. For more information, visit www.levadata.com.