Advanced Purchasing Dynamics Unveils Optimal Cost Validation Program – Based Upon AI and Machine Learning!
Optimal Cost Validation (OCV) enables purchasing organizations to easily understand if they are buying at the right price
PLYMOUTH MI -<June 5, 2019>- Advanced Purchasing Dynamics, a leading purchasing consultancy has unveiled a game changing program that will enable purchasing organizations to better understand if they are achieving optimal costs and buying at the right price.
The Optimal Cost Validation (OCV) program is based upon AI and Machine Learning and provides companies with detailed analysis of supplier quotes against best-in-class Optimal Cost Models. At the heart of OCV is manufacturing shop floor knowledge and data developed from 15 years of consulting experience.
High performing purchasing organizations use Optimal Cost Validation to:
- Engage in supplier negotiations based upon facts that are validated within the industry
- Ensure buyers are buying at the right price
- Simulate multiple scenarios for comparing cost
- Free up buyer time for more strategic activities
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Optimal Cost Validation Program
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“For the past 15 years we have been collecting cost data and deployed state-of-art machine learning models to identify optimal costs for manufactured products” said Jeoff Burris, Founder and Principal of Advanced Purchasing Dynamics. “Until now, manufacturing companies have struggled to validate optimal costs when analyzing supplier quotes. Our Optimal Cost Validation program enables buyers to understand how competitive their supplier quotes are easily, rapidly and inexpensively.”
“Supplier quotes are compared against Industry Cost Models that show how the quote compares to the best quotes other buyers have received” said Burris. “We also show how the quote compares to a suppliers actual manufacturing costs with the APD Open Book Costs Models.”
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