arkestro

Arkestro employs AI-driven agents that integrate behavioral science and game theory to predict optimal pricing, automate supplier negotiations, and streamline procurement workflows. These agents enable organizations to proactively manage spend, reduce cycle times, and enhance supplier engagement without increasing headcount.

What Makes This Tool Different

Arkestro's unique approach combines three scientific disciplines:

• Negotiation Science: Applies game theory to optimize pricing strategies.
• Supplier Science: Utilizes AI to select and engage suppliers effectively.
• Process Science: Automates procurement workflows to accelerate sourcing cycles.

This trifecta enables Arkestro to deliver predictive insights and autonomous sourcing capabilities that drive significant cost savings and efficiency gains.

Use Cases & Applications

• Autonomous Sourcing: Automate supplier selection and negotiation processes.
• Spend Optimization: Achieve average savings of 18.8% per $1M of spend.
• Cycle Time Reduction: Accelerate procurement cycles by up to 60%.
• Supplier Engagement: Enhance collaboration and responsiveness with suppliers.
• Risk Management: Predict and mitigate potential supply chain disruptions.

Key Features

• Predictive Analytics: Forecast optimal pricing and supplier performance.
• Intelligent Counter Offers: Generate AI-driven counter offers for new or unpriced items.
• Embedded Integrations: Seamlessly connect with existing ERP and procurement systems.
• Real-Time Feedback: Provide immediate insights during supplier negotiations.
• Scalability: Manage increased spend without additional resources.

Tech Highlights

• AI & Machine Learning: Drive predictive insights and automation.
• Behavioral Science: Understand and influence supplier behavior.
• Game Theory: Optimize negotiation strategies and outcomes.
• Cloud-Based Platform: Ensure accessibility and scalability.

Who’s Using It?

Arkestro is trusted by leading enterprises across various industries, including manufacturing, automotive, oil & gas, construction, financial services, and food & beverage, to transform their procurement processes and achieve substantial cost savings.

Pros & Watchouts

Pros:

• Significant cost savings and efficiency improvements.
• Enhanced supplier engagement and collaboration.
• Scalable solution without the need for additional headcount.

Watchouts:

• Initial setup and integration may require time and resources.
• Change management may be necessary to adopt new processes.

Best For / Not Ideal For

Best For:

• Large enterprises seeking to optimize procurement processes.
• Organizations aiming to leverage AI for strategic sourcing.

Not Ideal For:

• Small businesses with limited procurement activities.
• Companies without the infrastructure to support AI integration.

Alternatives

• Fairmarkit: Focuses on tail spend management and sourcing automation.
• LevaData: Offers AI-driven supply management solutions.
• Scout RFP: Provides cloud-based strategic sourcing solutions.