Procurement Technology Award: Makersite shortlisted for World Procurement Awards
We are selected in the Procurement Technology category, that recognizes the latest wave of technology-driven procurement solutions and the companies responsible for their development.
Procurement technology redesigned
At Makersite, our mission is to help companies buy make and sell better products, faster by focusing on 3 of the most challenging aspects of business in the modern environment: reducing complexity, increasing product success and reducing risk. These can only be solved with a consistent, integrated approach which is what Makersite is all about.
Our platform provides teams with a single, connected digital twin of their product and its supply chain around which engineering, environment, compliance, supply chain, and business functions can collaborate, and invite suppliers when necessary. Prices, regulations, technologies and supplier’s data are updated in real-time, enabling teams to identify and capitalize on opportunities faster than ever.
We help our clients to:
- Increase margins using accurate and fast should-cost analysis. Teams can improve supplier negotiations, support make/buy decisions and capitalize on process-based cost reduction opportunities. Thanks to proprietary data and algorithms, this process which typically takes months to complete per product can be done with >90% accuracy within seconds.
- Find the best alternative for ingredients and components. Teams can compare designs using a multi-criteria approach based on proprietary data and stakeholder/customer research data acquired through direct surveys. Teams make better decisions faster about what ingredients to use, where to source them from to maximize benefits and minimize risks and costs.
- Make more sustainable decisions by infusing design decisions with sustainability & health aspects to grow their market. This is done based on average data from our databases and direct collaboration with suppliers to understand and improve product performance.
- Reduce time to market by cutting through endless back-and-forth in the development process, so companies innovate faster, together. Digital twins stay up-to-date with both internal data like product specifications and external data like regulations. All attribute changes impacts can instantly be seen from every perspective, simultaneously.
- Control risks along the supply chain by mapping and interrogating their entire supply chain (not just suppliers)
to mitigate substance, health, environmental and compliance risks.
To be selected as a finalist for the Technology Procurement Award 2019 means a lot to us, especially since the World Procurement Awards, in association with SAP Ariba, are the most celebrated and sought-after awards in procurement, recognizing the most impressive procurement projects, people and organizations across the globe.
We thank the judges of the award and see you at the awards ceremony on 16 May 2019 at the Intercontinental London, The O2!