Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into logistics & supply chain management. This time, you get to discover 5 hand-picked raw materials management startups.
Global Startup Heat Map highlights 5 Top Raw Materials Management Startups out of 278
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2.093.000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 278 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 raw materials management startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 273 raw materials management solutions, get in touch.
Hiventive enables Procurement Automation
Manufacturers are increasingly seeking ways to rationalize stock in order to make production efficient. The first step in the process is often rationalizing raw material procurement. This is why startups offer automated procurement solutions for manufacturers across industries. Such solutions help companies identify the right mix of suppliers to lower their material costs while also minimizing manufacturing risk.
French startup Hiventive develops solutions to optimize industrial production. The startup’s automated procurement solution is customizable to client requirements and delivers real-time updates of the procurement process. It finds the best suppliers for all raw materials and helps manufacturers rationalize their stocks. Moreover, it negotiates prices with suppliers, reducing the time spent on budgeting.
EMERGE App provides Inventory Management
The kinds and volumes of raw materials vary considerably across industries. Efficient inventory management helps manufacturers balance raw materials procurement with production to prevent downtime. Moreover, it also optimizes the total cost of components used per unit of the finished product. Startups are working on raw material inventory management solutions to boost production.
EMERGE App is a Singaporean startup that builds an inventory management platform. It allows manufacturers to manage raw materials along with finished goods. The platform compares raw material quantities with finished goods, as well as calculates the landed costs per unit of raw materials. The platform meets the needs of manufacturers in the pharma, food, and electronics industries.
CommTrade offers Raw Materials Trading Automation
Physical commodity trading is a slow and painstaking process. Managers need to be on calls with hundreds of traders and suppliers before making a purchase decision. In addition to time, manufacturers also lose money in hidden costs and fees in the process. To help manufacturing companies buy commodities faster, startups are now automating the process of trading raw materials, integrating it with their in-house inventory management platforms.
CommTrade is a US-based startup that builds a raw materials trading automation platform. The startup’s Software-as-a-Service (SaaS) platform monitors the commodity markets to determine the best times and prices to buy raw materials. It then implements robotic process automation (RPA) for physical commodity trading while ensuring compliance. The platform helps small and medium enterprises (SMEs) source raw materials efficiently and inexpensively.
Wherefour delivers Material Requirements Planning (MRP)
Forecasting raw material needs in advance is critical to lower downtimes in manufacturing units. For instance, in process industries, this requires analyzing formulas related to raw material consumption. Startups are developing enterprise resource planning (ERP) solutions that integrate these calculations with ordering fresh stock. This helps manufacturers keep manufacturing yields high and serve customers better.
US-based startup Wherefour offers an ERP platform. The platform combines what-if scenario analysis and MRP analysis to predict future raw material needs. It utilizes data on future sales, available stock, purchase orders, and customer orders to determine when manufacturers will run out of raw materials. Moreover, it handles both process and discrete manufacturing techniques. The platform serves companies in the food, machinery, cannabis, textile, cosmetics, and nutraceutical industries.
sustainabill enables Sustainable Material Sourcing
Customers nowadays are concerned about where raw materials in their products come from, both for ethical and environmental reasons. Consequently, manufacturers are switching to suppliers that meet certain expectations such as ethical sourcing or low emissions. However, most manufacturers are unable to independently verify whether all of their suppliers meet their expectations. This is why startups are working on supply chain solutions that improve transparency in raw materials sourcing.
German startup sustainabill develops solutions for transparent and sustainable sourcing. The startup’s cloud platform provides full control of data along the supply chain as well as analyzes and visualizes it. It informs manufacturers about where the raw materials come from and the carbon footprint of suppliers. Moreover, the platform also ensures that supplier facilities meet human rights standards and other stakeholder expectations.
Discover more Logistics & Supply Chain startups
Supply chain and logistics startups such as the examples highlighted in this report focus on sustainability, as well as AI and big data analytics to improve raw materials management. While all of these technologies play a major role in advancing sustainable supply chains, they only represent the tip of the iceberg. To explore more logistics & supply chain technologies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download our free Logistics Innovation Report to save your time and improve strategic decision-making.