In an era marked by unpredictable market dynamics and rising costs, Pactum has unveiled its latest innovation: the Price Lists for Direct Materials agent. This new addition to its Agentic AI platform aims to revolutionise procurement strategies by enhancing how organisations manage under-utilised materials at scale. By offering an end-to-end AI-driven procurement solution, Pactum seeks to empower businesses to navigate the complexities of modern supply chains more effectively.
Procurement teams are increasingly burdened by the challenges of managing extensive inventories comprising thousands of stock keeping units (SKUs). Often, raw material price escalations remain unnoticed, negatively impacting profit margins and complicating supply chain operations. Pactum’s new Price Lists agent addresses these issues by providing continuous monitoring and analysis of pricing shifts within a company’s procurement portfolio. This capability enables organisations to identify opportunities for savings, devise tailored negotiation strategies, and execute deals autonomously.
Kaspar Korjus, CEO of Pactum, remarked on the transformative power of the new agent: “Raw material costs continue to increase over time, especially across large SKU volumes. With our Price Lists agent, every price change is visible, every opportunity is actionable, and every negotiation is handled autonomously.” He emphasised that this tool not only streamlines procurement processes but also unlocks valuable opportunities that can significantly enhance cash flow and strategic investment capabilities.
Currently, five leading manufacturing clients have already adopted this innovative solution, with early indications showing measurable improvements such as reduced costs, heightened compliance, and better supplier engagement—all achieved without increasing personnel. This showcases Pactum’s commitment to redefining procurement through Agentic AI, transitioning from a reactive to a proactive negotiation approach.
The release aligns with growing trends in the industry towards greater automation and efficiency in procurement processes. According to industry experts, leveraging AI for navigating supplier negotiations can yield as much as a 4.2% increase in profitability. Notably, clients have reported that the platform facilitates 71% of negotiations being fully automated, saving considerable time and resources.
The technology behind Pactum’s AI agents allows them to not just conduct negotiations but also to create personalised commercial agreements on a grand scale. This involves leveraging data analysis in real-time to adjust purchasing agreements based on market conditions and competitive pricing. The integration of these AI agents with existing enterprise resource planning (ERP) systems ensures that negotiated terms stay in sync with procure-to-pay systems and supplier portals.
This week, Pactum is showcasing the Price Lists for Direct Materials agent at the DPW New York conference, offering live demonstrations and interactive sessions to illustrate how Agentic AI is reshaping procurement landscapes. Attendees are invited to connect with Pactum’s team to explore the potential of AI in transforming traditional procurement practices.
As the demand for more agile and responsive procurement solutions grows, the introduction of Pactum’s Price Lists agent may signify a pivotal shift, marking a move towards a future where AI seamlessly integrates into procurement workflows, optimising operations and creating lasting value for enterprises.
Reference Map
- Pactum’s announcement on the launch of its Price Lists for Direct Materials agent
- Information on the benefits of Agentic AI in procurement from industry reports
- Case studies from Pactum clients regarding the effectiveness of automated negotiations
Source: Noah Wire Services
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