This document describes the final scope for LevaData's 23.06 Release. It is intended as a reference for LevaData Customers.
This document is not a comprehensive list of every addition, change, or deletion in this release. No legal commitment, either expressed or implied, should be construed from this document.
Customers who want additional information on any items in this document can contact firstname.lastname@example.org or their Customer Success Manager.
Table of Contents: Release Highlights
- Enhancements to Benchmarking
- Enhancements to Alternate Options
- Enhancements to Vendor Score Card
- Enhancements to Vendor Collaboration
- Enhancements to the Platform
- Enhancements to Custom Part Intelligence
- Enhancements to BOM Compare
1. Enhancements to Benchmarking
a. Expanded Benchmark Coverage
LevaData's new MPN matching engine and benchmarking methodology will increase the number of matches, benchmarks, and potential savings opportunities.
This benchmarking methodology will:
- Include normalized comparisons of part price discounts from authorized distributor prices
- Exclude non-competitive part prices which would otherwise skew benchmarks
- Create part-specific benchmarks by enabling direct comparison of similar parts with different prices.
We recommend you try Benchmarking your part data in the LevaData Platform with these new improvements and see the difference yourself. You can upload parts via file upload and get real-time benchmarking of your parts, and a new column called Part Type will indicate whether they are:
- Existing Part: This MPN exists in your spend data loaded on the LevaData Platform.
- Prospective Part: This MPN has not previously been seen in your spend data on the LevaData Platform.
b. Leadtime Benchmark Awareness
Leadtime Awareness is an enhancement to the Benchmarking feature that helps you identify the slowest link in your supply chain. With this information, you can know the difference between your lead time and component manufacturer lead times and discover alternative options to improve your supply chain agility.
Scrolling to the right on any part row in your benchmark data set will produce valuable lead time and years to end-of-life (YTEOL) metrics.
- Manufacturer lead times are measured against your lead times with a color-coded differential indicator if you have a better or worse lead time than the manufacturer median.
- Availability YTEOL: Estimated number of years before the technology group to which the part belongs will become obsolete.
- Estimated YTEOL: Estimated years to end of life as of the IHS Smart Alert prediction date.
LevaData Platform regularly scans the authorized distributor market to locate lower lead times for the same or alternate parts. The Benchmarking screen now presents benchmark prices, lead times, and YTEOL information in one place for any part a user uploads - irrespective of whether or not that part exists in their current spend data. This will surface opportunities for immediate spot buys to fulfill supply gaps or alternative sourcing strategies against longer lead times.
2. Enhancements to Alternate Options
a. Expanded Benchmark Visibility for New / Prospective Parts
New Product Introduction comes with the challenge of sourcing parts your organization has never procured. Lacking historical price benchmarks, lead times, years to end of life, and other relevant data insights makes for difficult determination when trying to source reliable parts at fair prices in the market.
LevaData's Alternate Options feature can now receive input of new parts and return these critical benchmark insights to support new sourcing activities.
This can be done in real-time in Alternate Options with this simple process (above):
- Download the template which is just a one-column part list
- Input your new or existing parts for which you seek alternate options
- Save and upload your file
- The top interface confirms you are looking for alternates against your file and presents these options to you in the series of tables below - one per part match.
As with Benchmarking, the Alternate Options feature has been enhanced with lead time and YTEOL metrics so you can review that information while also reviewing recommended sourcing options for new parts that you are seeking alternatives for:
3. Enhancements to Vendor Score Card
The Vendor Score Card now persistently (1) displays critical facts about financial ratings, (2) spend change exposure, (3) location exposure, and (4) has enhanced filtering with (5) one-click navigation.
Let's examine these features individually and how they will help you review your vendors.
a. Vendor Summary Table: Financial Rating and Download
The Vendor Summary Table now contains Financial Rating details for the vendors, allowing the user to sort by this metric and download this entire Vendor Summary Table. This will help users evaluate their vendors and take this information for external analysis.
Clicking into any vendor's financial rating reveals a historical chart with that rating over time so you can evaluate their financial health over a longer time span.
b. Spend & Savings Trend: Spend Breakdown by Cost Trend
The Spend & Savings Trend chart now provides visibility of spend where MPN costs increased, decreased, or remained flat. This allows you to view spend trends for individual vendors and evaluate your long-term spend and savings with them.
c. Vendor Locations: Expand and Filter
Vendor Locations map has been improved so that it can be expanded to enhance visibility, and location types can be filtered to isolate for specific analysis (e.g., Factory). This will give users better geolocation awareness of potential spend sourcing locations.
d. Filters for Vendor Score Card
A new filter selection mechanism at the top of the interface for Vendor Score Card allows users to filter Vendor Score Card by Location, City/Country, or Type to understand sourcing risk from associated spend when an adverse event has occurred.
Other filter fields can be used individually or in tandem using the plus sign to combine and apply multiple filters. The additional filters are GCM, Business Unit, Product (Family), and (Sub)Commodity.
e. Navigate Directly from Vendor Score Card to Spend and Opportunities
While reviewing the Vendor Summary in Vendor Score Card, users can now click into a vendor's Spend and Opportunity metrics and navigate instantly and directly to the associated area of Spend Intelligence and Savings Opportunities with applied filters to limit the information to just one vendor.
If the vendor has multiple names, which the LevaData Platform has normalized, an arrow will appear next to their name to drop down the spend and opportunity for those specifically.
Taking this one-click journey will allow you to drill into specific spend and opportunity details for your vendor; this deeper-level analysis will inform your decision-making as you negotiate with the vendor.
Clicking that vendor's Spend sends you to a Manufacturer-filtered view of that same spend amount in Spend Intelligence:
Clicking that vendor's Opportunity sends you to a Manufacturer-filtered view of that same series of opportunities broken down by type and amount in Review Opportunities:
These links with automatic filtered navigation greatly improves your ability to review Vendor Score Card information and cross-functionally work on analyzing spend and discovering savings with these vendors.
4. Enhancements to Vendor Collaboration
a. Proxy GCM User for Vendor User Management
Proxy GCM provides enhanced RFX flexibility via the ability for a LevaData tenant user to act as a vendor user. The purpose is to enable the LevaData tenant user to upload vendor RFQ files into LevaData if the vendor user does not or cannot use the LevaData platform to submit their RFQ.
Previously, this feature was only conditionally enabled for vendors without users, but it is now available for any given vendor, even with existing users. This should help smooth over circumstances where vendor user turnover happens between RFX cycles or vendor users are temporarily unavailable to access the platform.
When you act as a proxy for the vendor, you can input their quotes as responses. The buyer then maintains the ability to compare such quotes from different vendors and proceed with more detailed "apples-to-apples" cost scenarios before finalizing awarding.
5. Enhancements to the Platform
a. Email Insight Notifications
LevaData users will now receive Usage and Opportunity Alerts pushed from the LevaData Platform. These insights will notify users of their spend under management, available cost savings opportunities, and how recently their data has been refreshed and that they have accessed the platform.
These notices can be configured to be sent weekly or monthly to align with your data refresh cadence. The more frequently your organization loads data into the LevaData Platform, the more likely we will be able to uncover and share new cost savings opportunities with you.
6. Enhancements to Custom Part Intelligence
a. Self Data Ingestion and Diagnostic
LevaData Platform now features Custom Part Benchmarking for Plastic, Resins, and Metals. Custom part cost models, typically tracked in Excel, can now be quickly loaded into LevaData to see price variance of material and machine rates and savings opportunities through normalization.
Within Custom Part Intelligence, you can navigate to Upload Data, then (1) select the type of data that you want to upload, (2) acquire a standardized template to input your data, and (3) provide the completed file for uploading and processing.
There is no need to convert the files; you can use the format you have already to quickly see price variance and enforce the savings you have already negotiated. Users will have increased confidence in their ability to realize opportunities by comparing values at their minimum or weighted average costs.
AI Data Ingestion for custom part data enables diagnostics, validation, and rationalization to inform you what in your data needs fixing and how it impacts your total Direct Material Spend. When Uploading Data, this feature will Identify and Report validation errors, provide detailed error descriptions, and provide recommendations on fixing the issue.
The diagnostics tool will perform the following with some examples identified above:
- validate formatting errors
- highlight missing or duplicate data
- harmonize and normalize named entries
- identify numeric and monetary values far out of expected ranges.
This feature should rapidly improve the agility of the LevaData Platform, allowing users to see their analyzed custom part data in the platform in minutes rather than days, which grants immediate insights for sourcing custom parts in your supply chain.
7. Enhancements to BOM Compare
a. Benchmarking and Market Lead Time via Autofill
Within BOM Compare, once you have ingested a Bill of Materials into the system, you are now able to pull in LevaData Platform Benchmarks, Lead Times, and other important part analysis data directly into your bill of materials.
While viewing an Existing BOM in BOM Management, Check Out the BOM to begin working on the data:
When Checked Out, the line item part data values can be edited (editable values indicated in grey), or much more conveniently the values can be automatically filled with production values via Production Parts Autofill:
After selecting the reference quarter (usually the same one the BOM was made in), the autofill will run and when it is complete it will show you the reference quarter you chose as well as a list of parts that data has been presented for:
Scrolling down below the Part Change Summary table, you can see the results of the Autofill operation in a set of comparative tables.
You can see the (1) Before Autofill on the left and the (2) After Autofill on the right. You can (1) select all CPNs in the primary checkbox under "Before Autofill" and accept all changes or you can (3) review part comparisons individually and accept the autofill changes only for specific CPNs by clicking their respective rows. The latter you may want to do if within your BOM you have uploaded very recent pricing data that you have negotiated, and you do not want any of our pricing data sources to override those price points.
After you have either (1) selected all data for autofill or selected specific parts for data autofill, then you can proceed to (2) Save which will conduct the production parts autofill operation. This will save all populated benchmarks, information values, years to end of life, and other valuable information into the part line items of your bill of materials.
Within your BOM now, you can view part item data such as 90th percentile Benchmark, Average Benchmark, and eBenchmark MPN+FFF Benchmark. After you are done reviewing the autofilled data, you can Check In the BOM to finalize the writing of this data to your BOM.
A toast notification will indicate that the Revision has been checked in successfully and you can review your BOM in the BOM Management interface after it has been enriched with this part data auto-filled:
b. Alternate Part Details
When reviewing BOMs in BOM Compare, there is now an Alternate Part sourcing input at the end of each row for each part.
Scrolling to the right reveals this button and then selecting it for your part brings up the alternate options interface for that part:
You can review many options for swapping out parts in a bill of materials, you can download the alternate part table to review offline, and even scroll further to review data sheets for the part if you need to ensure the specs are exact for your product.