AIMDRIVE-AI

Engage suppliers in cost-based discussions with real time cost insights from AIMDRIVE-AI. In today's volatile business environment with multiple moving parts, AIMDRIVE-AI helps you understand cost so you can effectively manage it. AIMDRIVE-AI helps you move away from emotion-based negotiations and allows you to engage suppliers in cost and fact-based negotiations. With an intuitive interface and real-time insights, companies are saving 5–8% on average during supplier negotiations --- Here’s how.

How to get started?

1. Enter the name of the product, service or equipment whose cost you would like tounderstand. For eg. If you are buying plastic housings for phones, enter “plastic housingfor phones” as the keyword and click on the “Get Insights” button. For services, if youare interested in understanding the billing rates for marketing professionals, enter thekeywords “Marketing services” and click on the “Get Insights” button to get started.
2. Select the Industry code that best fits the product, service or equipment selected. The list provided is AI-generated and it is displayed in a descending order of relevance. If you’re not sure about the exact Industry code, select the first one in the list to get started.
3. Click on the “Cost Insights” tab to access real-time cost-based data for the product, service or equipment selected.
4. Select the cost breakdown scenario for either Small & Medium businesses or Large businesses based on the size of the supplier you are working with. This cost breakdown helps you understand how the price paid to the supplier breaks down into its subsequent cost elements namely Direct Materials, Direct Labor, Manufacturing Overhead, GSA and Other expenses and Profit Before Taxes. AIMDRIVE-AI provides 350+ cost breakdowns for products and 500+ cost breakdowns for services.
5. Next, select the product you would like to model from the dropdown provided. In the case of services, select the job title that you are interested in.
6. Enter the dimensions and/or the unit of measure of the product you buy from the supplier. Be as descriptive as possible to fine-tune the results to your scenario. Once you are happy with your inputs, click on the arrow button to generate cost insights.
7. AIMDRIVE-AI helps you understand the Bill of Material/Statement of Work composition for the product/service and automatically costs it out for you, showingeach cost driver value that has been estimated.
8. AIMDRIVE-AI further quantifies the other cost elements for the product/service selected thereby providing you with an understanding of the approximate should cost.
9. You have the option to customize the Bill of Materials/Statement of Work and create different scenarios and versions of your analysis.

Find cost insights, industry benchmarks, and value improvement opportunities