DSC Logistics has partnered with Keelvar, a company headquartered in Cork, Ireland, on an enhanced online sourcing tool, giving DSC and its customers an industry-leading procurement capability.
The global sourcing optimization tool from Keelvar creates an environment for engaging suppliers and gathering many types of information from the market, enabling buyers to strategically optimize purchasing.
The tool can be set up for multiple rounds of bidding in different formats, including online reverse auctions. It allows DSC and its customers to engage a large supplier base efficiently, and facilitates a competitive rate response. “One feature we find especially useful about the Keelvar tool is the true automation of multi-round sourcing event execution,” said Basil Weaver, Senior Manager, Supply Chain Solutions and Analytics.
DSC describes the tool as intuitive and highly configurable – allowing clear communication of business requirements and ease of use for the supply base. The tool increases speed to market, streamlines the administrative aspects of bidding and provides robust analytics.
At a recent event hosted by Keelvar in Atlanta, Georgia, DSC and other supply chain industry subject matter experts, Artificial Intelligence (AI) and sourcing experts, and logistics and transportation industry consultants discussed topics related to AI and Strategic Sourcing.
Keelvar CEO Alan Holland, a former research fellow and lecturer at University College Cork specializing in Artificial Intelligence, Auction Theory and Optimization, presented a forward-looking view of AI’s use for procurement, describing it as a tool that will allow bidding and sourcing to become more optimized, continuously evolving, with a focus on automating best practices rather than simply accelerating suboptimal practices.
He described Keelvar as a solution that is intuitive and easy to use, designed as a tool to do work on humans’ behalf, not replace them. He went on to say that as sourcing technology evolves people’s roles will change. Less time will be spent on managing sourcing events and more time will be focused on managing supplier relationships and supplier recruitment, evolving data inputs, and aligning sourcing awards to corporate strategy. “Bots are good at some things; let them do it, while [humans] focus on sourcing management, supplier management and relationships,” he said during his presentation.
“We were pleased to attend the event to gain information from thought leaders who share our passion for collaboration and strategic partnerships,” Basil said. “Our Keelvar solution provides DSC with a flexible sourcing platform that we can use across commodities, modes and markets.”