Global crises like COVID-19 highlight how supply chain disruptions can impact entire industries. In such unpredictable times, businesses need to reduce impact to the bottom line by optimizing cash flow and mitigating supplier risk.
Honeywell Forge Supply Chain Analytics is a tool that uses advanced machine learning to analyze global COVID-19 data sets along with data from operations, suppliers, and the market.?It then generates insights so you can make informed decisions that ensure business continuity and supplier efficiency.
Why Use It
Reduce Supplier Costs?–?Identify savings opportunities and improve negotiating position on existing contracts
Improve Business Continuity on Open POs?–?Ensure critical suppliers can meet demand and identify best candidates for alternatives
Increase Speed to Market?–?Rapidly make better-informed decisions with all your supply chain purchasing data in one place
Improve Cash Flow?–?Rationalize supplier payment terms adjustments across your entire supply
What You Get
Unclassified Spend Management?–?Identify unclassified spend to automatically assign the right spend to the right commodity manage and drive material productivity actions daily
Logistics Spend Optimization?–?Standardize and analyze spend data using machine learning models to identify savings across routes based on the existing contracts and industry standard pricing
Rationalized Supplier Payment Terms?–?Optimize payment terms across your supply base to provide prescriptive recommendations to achieve working capital goals and prioritize opportunities based on ease and likelihood of acceptance of new payment terms
Supplier Risk Assessment & Mitigation?–?Identify critical suppliers based on historical performance and external risk factors to get prescriptive recommendations, actions to minimize impact on open purchase orders and best the alternate suppliers by location
The Honeywell Forge Difference
Get insights. Get outcomes.
Supply Chain Expertise
Our unique algorithms in a data lake is backed by our heritage of supply chain expertise
Machine learning allows rapid insights on data you already have in days instead of months
The microservices-based architecture creates flexibility to adapt to any technology environment for easy integration and no additional hardware is required for sustained value realization
Scales automatically and requires no significant modifications to data and infrastructure to deliver results