iSOCO Presents iCategory, A Unique Solution For Optimising Category Management
The main innovation delivered by iCategory developed in conjunction with CSIC, is that it incorporates artificial intelligence components which increase the business efficiency of the procurement process by managing knowledge on the supply markets more efficiently.
The technological solution, presented in Madrid, strengthens iSOCO's focus on developing tools aimed at transforming the purchasing function, which is often neglected within the structure of organisations, into a strategic area for companies.
Unique in the market, iCategory facilitates the implementation of a purchasing model based on category management, a method that adds a great deal of value to the procurement chain. It provides a common system and language for all the buyers acquiring goods and services within a company in order to ensure standardised criteria for supply market relationships.
With a clear focus on achieving results, the solution supports the process of defining the strategy for a category, improving the formalisation and monitoring of action plans and performing comparisons and scenario simulations. Equipped with artificial intelligence, in addition to enabling knowledge to flourish, it also allows past experiences to be cross-examined so that the Category Manager has a comprehensive overview that assists in the decision-making process.
iCategory is the module that completes the iQuotes Suite, the online platform with tools for every stage of the purchasing process, from identification and qualification of suppliers (iProvider) to supply management (iFulfillment). The iCategory launch event was attended in Madrid by the iSOCO general manager, Javier Aróstegui, and various guests from the industry. Almirall's corporate purchasing manager, Alejandro Basso, gave a talk on 'Category Management as a springboard to transform the Purchasing Function', while the MIT doctorate holder and researcher of the CSIC's Institute of Artificial Intelligence, Juan Antonio Rodríguez, explained how new technology can be used to manage knowledge on the supply markets more efficiently.
The iSOCO Sourcing Transformation manager, Lucía Adrover, was responsible for demonstrating the main features of iCategory to those present.
SOURCE: iSOCO