LevaData Delivers Global Supply Chain Insights to Lenovo
Cognitive Sourcing Platform From LevaData Central to Lenovo's AI-Driven Transformation of Procurement and Sourcing Operations
LevaData, the company that delivers applied AI to transform strategic sourcing and procurement, today announced that Lenovo will launch LevaData's cognitive sourcing platform globally to scale commodity teams, identify data-driven insights for supplier negotiations, and improve procurement agility while managing rising sources of volatility.
The initial platform activation will focus on the Intelligent Devices Group (IDG), which is Lenovo's largest business unit and manufactures a wide range of consumer products, including mobile devices, PCs and smart devices. LevaData will be working closely with Lenovo's global sourcing teams in Beijing, Shanghai and Shenzhen, China, as well as Raleigh, North Carolina, as part of Lenovo's progressive efforts to leverage AI throughout their business and transform procurement into a digital, data-driven organization. The partnership between LevaData and Lenovo will investigate how AI, machine learning and broad implementation of the LevaData Cognitive Sourcing Platform will impact Lenovo's procurement procedures, as well as provide a vehicle to measure its impact on the Lenovo organization.
"We are excited to embark on this journey with Lenovo to transform their sourcing processes - as well as their larger global business - through applied AI," commented Rajesh Kalidindi, founder and CEO of LevaData. "LevaData's Cognitive Sourcing Platform thrives on complexity and, of course, large volumes of data. Our solution provides Lenovo with the ability to leverage AI-driven purchasing insights across highly complex markets, a large product portfolio and a truly global procurement and supply chain operation managing large volumes. We are particularly looking forward to partnering with Lenovo to help identify and manage the risks and volatility associated with today's electronics industry."
Lenovo selected the LevaData Cognitive Sourcing Platform after a thorough review of potential partners, specifically around LevaData's potential to assist Lenovo in developing a 360-degree view of their supply base and the cultivation of new supply chain insights, by combining procurement spend with market intelligence. Ultimately, the partnership between LevaData and Lenovo will leverage AI-driven insights to improve the effectiveness of supplier negotiations and drive broader transformation of Lenovo procurement operations.
According to Jerry Gross, Vice President of Global Supply Chain and Chief Procurement Officer for Lenovo, "Our vision is to become the global leader in intelligent transformation, built on our view that artificial intelligence is fundamentally changing the way we live, work and play. The goal of Lenovo's business relationship with LevaData is to build out and measure new capabilities that leverage AI and machine learning across our sourcing function, ultimately helping to transform procurement and improve our agility, efficiency and effectiveness across multiple product categories."
More information: https://www.levadata.com/