BuyMetrics Wants to Revolutionize Commodity Purchasing
Originally Published by: SBCA Magazine — June 6, 2023
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BuyMetrics, the data informed platform for mission critical commodity procurement, applied to SBCA’s 2023 Innovation Grant for its BuyMetrics Advanced Analytics. While it did not receive a grant this year, SBCA wants to celebrate the innovative platform it put forth in its application and encourage component manufacturers (CMs) to think about how they might benefit from the ideas being put forth by BuyMetrics.
Product Name:
BuyMetrics Advanced Analytics
What is innovative about this concept:
Lumber is mission-critical to the component industry, a key driver of CM profitability. Until now, information surrounding lumber procurement has resided in the buyer’s head, emails, spreadsheets, and back-office systems designed for accounting – leaving CMs foraging for the bits of information pertaining to roughly one half their cost of produce.
BuyMetrics' new advanced analytics, business intelligence tools and dashboards bring transparency to the data and processes surrounding lumber procurement, providing CMs the fact-based information and insights they need to optimize lumber strategy, plug profit leak, and drive incremental revenue to the bottom-line. Here, BuyMetrics does the heavy-lifting, cleaning and validating your deceptively-complex purchase and market data, creatively applying technology to produce the truly reliable information CMs need to make fact-based decisions.
Innovation is part of BuyMetrics DNA. We’ve earned 21 U.S. Patents for our innovative, data-driven technology. For more than 23 years, lumber buyers and component manufacturers (including some of the largest in the industry) have relied on BuyMetrics’ SaaS procurement solutions to increase purchase productivity and improve purchase outcomes – through every market cycle of the 21st century.
Now, with Advanced Analytics, CMs have the ability to define for themselves the information they want to see, the context, frequency and form of presentation, the units of measures (LF and/or MBFT). Information brings knowledge, knowledge is power. The power to move from uncertainty to control, to turn lumber procurement into a manageable, measurable business process, a profit center. CMs gain the ability to intuitively dive into their purchases data on-the-fly, to view relevant internal/external information in one place -- BuyMetrics dynamically creating rich, contextually-accurate information, measuring performance, and visually displaying your most important measures.
To learn more, visit their website at http://www.buymetrics.com/