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Direct materials is a hot market for procurement solutions, and this has become even more the case since the Covid crisis. What’s more, the broader sustainability challenges ahead of us that influence demand and regulations reinforce the need for enhanced direct materials management. More specifically, and as mentioned in our ESG series and more recently in our ”Design for Supply” series, the need for better materials analytics is fueled by various drivers (e.g., CO2 footprint, supply continuity) and the continuous need to optimize and adapt supply sources. Part Analytics is a solution provider that enables companies to tackle such challenges.
In this Spend Matters PRO Vendor Analysis, we’ll update our 2020 look at Part Analytics, as it made noticeable progress in certain areas in its mission to make direct materials sourcing less painful for electronics suppliers and manufacturers. We will also update the competitive landscape it faces, and close with an analyst summary.
Here’s why Part Analytics matters:
- To the market— Part Analytics is a new entrant on a narrow market (direct materials sourcing enhanced by material analytics) that is getting a lot of attention from potential customers due to the current situation of supply chains and the need to develop better insights and alternatives at material level.
- To customers— Part Analytics enables customers to enhance their direct sourcing processes (NPI and negotiations) by enabling them to minimize money left on the table, mitigate supply risks and automate process steps.
- To potential buyers— Part Analytics is a valuable candidate for manufacturing companies looking for a sourcing solution that supports BoMs, material-level analytics and provides market insights, especially in categories like electronics and electromechanicals, for better decisions during the NPI process and after start of production.
This Spend Matters PROVendor Analysisgives an overview of the vendor’s capabilities, its competitors, provides tech selection tips and closes with key analyst takeaways.