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Business Management Review | Friday, September 02, 2022
The collaboration follows Beroe's extended partnership program. The firm continues to bring best-in-class data and channel partners on board to realize its ambition of enabling every sourcing choice.
Fremont, CA: Collaboration with suppliers has been an important strategy. With the advancement of technology and the shifting environment of supplier management, the procurement function has demonstrated the enormous potential for strengthening supplier relationships. Suppliers will be able to see all stages of the procurement process, which will aid in obtaining the best pricing and lowering the risk quotient.
Beroe Inc, a worldwide SaaS-based procurement intelligence and analytics company collaborated with Mintec to supply market-leading pricing data and information.
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With increased volatility in global markets owing to geopolitical and event-driven disruptions, procurement teams must keep track of what is affecting their business and category.
Beroe LiVE.Ai, an AI-powered intelligence platform, will incorporate the Mintec Category Indices for Oils and Fats, Meat and Poultry, Dairy, and Cereals. By integrating these category indices, procurement teams worldwide will be able to recognize and respond to price variations within a certain category.
Beroe LIFE Ai is an AI-powered platform that provides market intelligence, category benchmarking, supplier risk information, market monitoring dashboards, cost models, and supplier discovery to procurement and sourcing professionals.
"This collaboration is an important step that enables procurement teams to harness the power of Mintec's commodity price intelligence alongside Beroe as part of their strategic sourcing process," said Beroe's CEO, Vel Dhinagaravel. Access to Beroe's intelligence platform and Mintec's benchmark price information will ensure sourcing managers and business leaders always have up-to-date pricing and market information right at their fingertips.
The collaboration follows Beroe's extended partnership program. The firm continues to bring best-in-class data and channel partners on board to realize its ambition of enabling every sourcing choice.
Spencer Wicks, CEO of Mintec, said: "Mintec is pleased to partner with Beroe to enable sourcing and supply chain professionals to understand their supplier prices better. The addition of Mintec Category Indices will help improve spend analysis. We look forward to working closely with the team at Beroe to enable the implementation of efficient and sustainable sourcing strategies."
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