Fullstep, in collaboration with the University of Granada and with funding from RED.ES., has launched three innovative Artificial Intelligence (AI) solutions for advanced supplier management. These tools allow companies to carry out automated analysis and control of their relationships with suppliers, including news monitoring, documentary validation and the identification of financial, operational and ESG risks.
Fullstep’s modular platform, highly customizable and scalable, incorporates Deep Learning systems to evaluate risks in real time, improving efficiency and purchasing strategy. According to José F. Valderrama, partner responsible for technology at Fullstep, these solutions will transform the relationship with suppliers and optimize performance.
“Artificial Intelligence and the incorporation of Deep Learning systems to obtain intelligent risk-supplier evaluation models in real time, applicable to any supplier in any sector of activity, will allow the transformation of the relationship with suppliers and improve performance, the strategic purchasing activity,” says Jose F. Valderrama, partner responsible for the technology area at Fullstep.
Innovative Solutions for Supplier Management
More and more companies are betting on technological systems to establish a complete, dynamic and real-time analysis and control of objectives. However, there is still a long way to go to digitize the supply chain and more specifically, to provide AI systems to efficiently reduce the risk to which companies are exposed, associated with their supply chain.
In this sense, Fullstep has launched 3 new high-end technological products for the analysis and management of supplier risk:
- Intelligent Documentation Validation: Automates document management, improving efficiency and reducing costs. The platform works with various types of documents and formats, generating automatic alerts for file tracking.
AI and Deep Learning systems help obtain intelligent supplier-risk assessment models dynamically and in real time
- Media Monitoring: Assesses the risk of critical suppliers by collecting and analyzing real-time news. An intelligent algorithm selects relevant information, presenting a centralized analysis of market sentiment.
- Supplier Risk Monitoring: Creates a continuously updated global risk map, integrating information from various sources. This product controls operational, financial and ESG risks, providing a complete view of the status of each supplier.
“Supplier management increasingly involves complying with the regulations established by government agencies and institutions on ESG matters. “This is why the monitoring of all the news, collected through multiple sources, will favor those companies committed to sustainability and the environment, which gives added value to these entities,” says Jose F. Valderrama, partner responsible for Fullstep’s technology area.