Maximizing Value through AI-Enabled Bid Evaluation and Price Targeting
Client Overview
A large petrochemical company struggling with manual bid analysis and inconsistent target price setting.
Business Challenge
Time-consuming bid evaluations and suboptimal target pricing led to missed savings opportunities and inefficient procurement processes.
Solution Impact
40% reduction in bid evaluation time
10% increase in realized savings from more accurate target pricing
25% improvement in buyer productivity through automated recommendations
Streamlined bid evaluation process
More accurate and consistent target pricing
Improved communication of recommendations to buyers
Our Approach
Implemented an AI-powered system for automated bid reading, price variance analysis, and target price estimation, with automated buyer communications.
Genesis AI drives innovation in manufacturing with AI and machine learning, optimizing processes and boosting productivity across industries like chemical, petrochemical, and automotive.
