PROVOSO Solutions - tunnel.jpg

SOLUTIONS

PROVOSO Logo - White.png
Image by Štefan Štefančík

PROVOSO SOLUTIONS

PROVOSO Solutions unify and identify supplier, product, PO, contract, transactional and supply chain data and, using predictive and classification models, identifies potential order, supplier, and product actions and requirements. ​

PROVOSO Solutions
Solutions - Advance Warning and Control
PROVOSO
Advance
Warning and 
Control System 
PROVOSO Operational Analytics 1.png
PROVOSO Operational Analytics 
Solutions - Predictive Contract Consumpt
PROVOSO
Predictive Contract Consumption and Compliance 
PROVOSO Predictive in Transit Analytics
PROVOSO Predictive
in Transit Analytics 
PROVOSO Automated Supply Assignment Sour
PROVOSO
Automated Supply Assignment Sourcing
PROVOSO Intelligent Creation of Catalog
PROVOSO Intelligent Catalog Item Creation 
PROVOSO Intelligence Assisted Purchase R
PROVOSO
Intelligence Assisted Purchase Requisition Processing
PROVOSO Demand Sensing.png
PROVOSO
Demand Sensing
PROVOSO Product Planning Canvas.png
PROVOSO
Product Planning Canvas
HARNESSING ADVANCED TECHNOLOGIES FOR BUSINESS PERFORMANCE

PROVOSO Advance Warning and Control System

The PROVOSO Advance Warning and Control System helps customers streamline their supply chain operations:

 

  • End-to-end visibility – visibility across supply chain partners, including suppliers, contract manufacturers, transportation carriers, third-party logistics

  • Real-time tracking through collaborative information sharing – share information and collaborate in real-time

  • Early warning alerts and exception management – resolve supply chain disruptions before they disrupt your business

  • Predictive and prescriptive decision-support – using predictive and prescriptive analytics based on machine learning algorithms

  • Autonomous decision-making and control – take the robot out of the human and boost productivity for repeatable process fulfillment

  • Cognitive - self-correcting and continuously learning supply chain with decision-making and machine learning

KEY CAPABILITIES:

  • Order fulfillment – Easy to configure, flexible, secure and reliable order data integration – reducing cost to serve

  • Transportation management – Planned and optimized shipments and streamlined communication between all parties

  • Inventory management – Reduction in shortages/stock-outs and improved warehouse and transport inventory

  • Visibility and monitoring – Real-time, fully supply chain transparency for improved service levels and traceability

  • Freight settlement – Reduction in expediting costs with accurate and reliable management of billing, audit and payment activities

  • Request and deviation management – Increase in on-time shipments and maximized service levels through request tracking and incident handling

 
Solutions - Nature A.jpeg
POWERFUL REAL-TIME COMPUTING CAPACITY MEANS MAKING THE RIGHT DECISIONS AT THE RIGHT TIME

PROVOSO Operational Analytics

PROVOSO Operational Analytics is an operational analytics system that supports instant decision making from reams of real-time data. New data is captured and ingested from your data sources and they stream through the PROVOSO Data Engine and are stored in the PROVOSO Data Lake. Interactive apps query Data Lake to gather insights from your data set in real-time and is used to provide a more seamless supply chain.

The definition of PROVOSO Operational Analytics can be expressed in the form of the following six propositions:

  1. Complex queries: Support for queries like joins, aggregations, sorting, relevance, etc.

  2. Low data latency: An update to any data record is visible in query results in under 5 seconds.

  3. Low query latency: A simple search query returns in under a few milliseconds.

  4. High query volume: Able to serve at least a few hundred concurrent queries per second.

  5. Live sync with data sources: Ability to keep itself in sync with various external sources without having to write external scripts.

  6. Mixed types: Allows values of different types in the same column. This is needed to be able to ingest new data without needing to clean them at write time.

 
SUPPLIER MANAGEMENT FORTIFIED WITH FULL VISIBILITY AND ALERT-DRIVEN GOVERNANCE

PROVOSO Predictive Contract Consumption and Compliance 

Visibility into purchasing contracts and their status – such as start and end dates, supplier requirements, designated materials, and current consumption rates – all are a critical part supplier relationships and ensuring product flow continuity. Establishing contractual trust requires alignment of performance against terms to ensure compliance and ensures a sufficient contract negotiation timeline to avoid expensive expedites.

Contract consumption and compliance that leverage machine learning algorithms enables procurement specialists to automatically predict the date of the contract’s full consumption. The buyer can now identify contracts that should be renegotiated at the appropriate time, handle potential overages, shortages and quality issues proactively, and avoid poorly negotiated prices and terms due to past contract overconsumption.

ML/Data Science Used:  Natural Language Processing (NLP), Regression

FEATURES:

  • Proactively renew contracts by predicting their expansion and consumption

  • Forecasts when a purchasing contract is expected to be 100% consumed.

  • Effective renegotiation of contracts when they are due

  • Predicted expirations and total consumption ahead of time

 
FULL VISIBILITY OF PRODUCTS AND MATERIALS IN TRANSIT

PROVOSO Predictive in Transit 

Companies that order and receive goods need to follow the status of their materials and products as they transit the supply chain so they can address potential delays or issues before they happen. By ensuring that every order is delivered on time, the company can avoid expediting activity to rush product across the supply chain, eliminating unnecessary payroll and logistics spend.

With PROVOSO Predictive in Transit buyers, sourcing, logistics, and warehouse managers, dock employees, and drivers can access open shipments and goods movement using predictive models, prebuilt automation triggers, and analytics built with real-time data. In turn, the process of forecasting stock in transit arrival is streamlined, automated, and responsive – leading to logistics planning and scheduling that are on-time, efficient, and reliable.

ML/Data Science Used:  Regression

FEATURES:

  • Predict shipment dates and manage stock in transit

  • Track material in transit and open transfer orders against a known schedule

  • Identify items where delivery data significantly differs from plan

  • Adjust time schedules using data in real-time

NEVER MISS A COMPETITIVE BID WITH AUTOMATED SOURCING MANAGEMENT

PROVOSO Automated Supply Assignment Sourcing 

Increasing the automation of supply assignment sourcing reduces the need for manual interactions while securing materials with the best price, fastest delivery time, and highest quality. PROVOSO Automated Supply Assignment Sourcing automatically creates a bidding event when an internal source of supply is unavailable. In this case, artificial intelligence acts like a human purchaser and sends the bid invitation to either an internal sourcing system (eg. Ariba) or directly to a defined list of preferred suppliers.

Machine-learning algorithms assign the right source of supply to orders by using pattern recognition on historical data, even when a clearly defined origin is not present. As the model is trained, the algorithms learn how to make decisions based on factors such as price, supplier evaluation score, and delivery time.

ML/Data Science Used:  Classification, Pattern Recognition

FEATURES:

  • Initiation of bidding events

  • Distribution of bidding event information to another system or to suppliers directly

  • Assigns supply sources based on pattern recognition

Solutions - Nature C.jpg
 
 
INTELLIGENT PURCHASING INSIGHTS TO ENSURE THE RIGHT PRODUCT AT THE RIGHT PRICE 

PROVOSO Intelligent Creation of Catalog Items for Free-Text Purchases for Suppliers

Proposing the creation of a new catalog item can yield many benefits. By reducing the number of one-off purchases based on the unique description from requests, better buying decisions and standardization of products can be made. These so-called “free-text” purchases are the ad-hoc descriptions that each requestor might use. PROVOSO Intelligent Creation of Catalog Items for Free-Text Purchases uses machine learning algorithms that look through the “free text” compares requests against historical description patterns to recommend the addition of a product or service to the catalog. This enables fact-oriented pricing for more than one-off purchase to be negotiated. New materials are made available in the catalog automatically if there is high user demand.

 

Procurement areas can increase process efficiency, accelerate purchase-order creation, drive error-resistant transactions, and ease the handling of goods and services from the internal catalog. Suppliers then create new and repeatable revenue streams.

ML/Data Science Used: NLP, Classification, Pattern Matching

FEATURES:

  • Reduces ad hoc or “one off” purchases from suppliers

  • Standardizes products to accelerate PO’s

  • Reduces errors

  • Improves downstream processes through standardization

 
SMART MANAGEMENT OF PURCHASE  REQUISITIONS TO ELIMINATE OVER-SPEND, ERRORS AND WASTE

PROVOSO Intelligence Assisted Purchase Requisition Processing  

Although supply chain requisitions are expensive from a process and resource perspective, they are sometimes necessary. Operational purchasers are facing long lists of open purchase requisitions from several sources – and they need a fast, efficient, and error-free way to handle all of them.

PROVOSO Intelligence Assisted Purchase Requisition Processing machine-learning algorithms address this challenge by recommending the best ways to process the purchase request. By optimizing requisition purchasing, the system suggests possible bundles, the most appropriate request for quotation document to be created, ways to avoid a specific exception in the future, and corrections for the right product category. The operational purchaser reviews the data to process the open purchase requisition with little effort.

Recommends optimal process for purchase requests individually

Recommendations for:

  • Product Bundles

  • Best Fit RFQ Documents

  • Exception Avoidance

  • Product Category Edits and Corrections

DYNAMIC MANAGEMENT OF SUPPLY CHAIN FOR SHORT-TERM DECISIONS—
USING REAL-TIME INFORMATION

PROVOSO Demand Sensing 

PROVOSO Demand Sensing is driven by short-term forecasting where, instead of working with the same forecast for a month, automation challenges that forecast with the latest sales data and make improvements that boost profits. PROVOSO Demand Sensing reduces demand latency when a distributor/retailer channel is present. It leverages POS data to extract relevant information to improve sales forecasts without having to wait for a distributor. This information provides earlier demand insights to better input supply signals. Demand sensing can give better short-term input to production/supply and correct production plans accordingly by expediting or de-expediting orders.  

ML/Data Science Used:  Classification, Regression 

 

FEATURES:

  • Dynamic optimization of inventory and balance of product distribution by considering available inventory and also expected / “refreshed” customer demand.

  • Generation of more precise seasonal demand forecasts by expanding visibility of the distribution network to reduce demand latency and drive better supply through the network.

  • Helps ensure the right amount of the previous products is available and builds confidence in inventory position needed to meet demand for new products.

  • Uses sales data such as promotion attributes and product and market data to understand the promotional uplift and better forecast demand for future promotions.

 
 
MANAGE SUPPLIER AND PRODUCT PERFORMANCE

PROVOSO Product Planning Canvas

Most companies have multiple plans associated to the products they are designing, manufacturing, sourcing, and merchandising. The Supplier and Product Planning Canvas "marries" these plans to understand the end-to-end lifecycle performance of suppliers and their products.

 

The PROVOSO SUITE

PROVOSO SUPPLIER

PROVOSO SUPPLIER

PROVOSO PRODUCT

PROVOSO PRODUCT

PROVOSO CUSTOMER

PROVOSO CUSTOMER

PROVOSO SOLUTIONS

PROVOSO SOLUTIONS