A new platform delivers supply chain management as a service and helps reduce waste in spare parts manufacturing
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Spotted: Supply chain management is more than just an esoteric concern of manufacturers and retailers. Inefficient supply chain management can cost organisations money, efficiency, and time. But it also leads to greater carbon emissions. Efficient supply chain management, by contrast, can save on manufacturing and transportation, which translates to less carbon. Making management of industrial maintenance parts more efficient using artificial intelligence (AI) is the goal of startup Kheoos.
The company has developed a set of services that use AI to modernise parts management. These include kheoosMatch, a comprehensive and consistent spare parts catalogue that allows organisations to reduce inventory levels without increasing the risk of running short.
Other products include kheoosCast, a set of forecasting aid tools that can alert organisations to upcoming parts needs; kheoosPool – a virtual stock aggregation service that aims at reducing global levels of parts and fosters cooperation between organisations; and kheoosPrice, a price comparator based on the actual transactions of members and prices observed in the marketplaces.
According to the company, “Kheoos was born out of the ambition to apply the advanced technologies of artificial intelligence and supply chain to the management of industrial maintenance parts.” It adds that tasks such as finding new sources of supply and reselling dormant stocks “are a real challenge requiring substantial time and energy. We therefore imagined a set of services to meet these needs of industrialists wishing to drastically modernise their parts management.”
More efficient supply chain management is the goal of a growing number of innovations that touch on almost every field. Some recently covered here include a platform that allows EV companies to gain better control of their battery supply chain and a company in the UAE that is working to reduce waste from the food supply chain.
Written By: Lisa Magloff