A global partnership agreement between Resilinc Corporation and LevaData was announced today.
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 mayl 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.
According to spokesmen, the key benefits for shippers 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.