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Covestro Deutschland AG

Analytics Toolbox for Procurement Sourcing & Tendering

Detailed description of challenge

  • Status Quo
    • Negotiations are a usual procurement activity. Depending on the size of the sourcing activity, negotiations can stretch out and include several rounds

    • Before or during negotiations, a lot of data has to be manually gathered and reviewed

    • Contract proposals are reviewed manually

  • Target state
    • The idea is to have an analytics toolbox that supports buyers during negotiation by providing category/supplier specific data and market analysis, as well as simulation capabilities

    • The nature of the tools is ad-hoc and simulation driven

    • The toolbox generates insights which are useful during the negotiation. Insights are not transparency (e.g. preparing data in a certain way) but rather using the available data to generate actionable items

    • The toolbox enables the sourcers to react quicker to the changing nature of a negotiation and give an edge

  • Negotiations utilizing the toolbox are more time efficient than the status quo

First initiatives within company

  • The following topics have been identified as potentially relevant for the sourcing analytics: Supplier/Industry cost structure, smart supplier profiles, smart contract checks, volume & price simulation, contract duration analysis, price benchmarking

Need for support

  • We need support in the realization of the idea to create a digital toolbox for the strategic sourcers. We are at an early stage and support could be finalizing the use-cases, helping to identify the external data sources and implementing them in an internal or external solution
  • Inspirations on use-cases for sourcing analytics toolbox are highly welcome
  • Concept for digital tool to analyze Covestro internal data sources automatically (e.g. supplier fact sheets)
      • Implementation of Web-Crawler functionality for public external data sources

      • Integration of paid data services into Toolbox required

      • Obtaining data sources on should cost and industry/supplier cost structure is crucial and we have yet to identify them

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Covestro Deutschland AG

Covestro is one of the world’s leading manufacturers of high-performance plastics and plastic components. Its products and application solutions are used in many areas of modern life. In this way, Covestro aims to help overcome major challenges such as climate change, urban growth and a changing mobility. In particular, the company wants to promote the circular economy as the key to climate neutrality, environmental protection and resource conservation.