Koch Engineered Solutions Achieves Procurement and Supply Chain Success with Arkestro
The Global Engineering and Manufacturing Company Leveraged Arkestro’s Predictive Procurement Technology to Obtain Transformative Value
SAN FRANCISCO, CA, May 16, 2023 –
Koch Engineered Solutions (KES), a subsidiary of KOCH Industries, announced today they are rolling out Arkestro, the leading Predictive Procurement Orchestration (PPO) platform, to strengthen their global supply chain, procurement operations and supplier collaboration.
“Our goal was to transform how we collaborated with our suppliers in a more productive way for everyone. Arkestro not only delivered on their promise that PPO could do that, but we also experienced significant savings while increasing our influence on more direct and indirect spend without adding headcount. We were able to go live within days of engaging with Arkestro, creating faster time to value,” stated Mike Novello, VP of global supply chain.
“The Arkestro platform ingests data, provides insights at scale based on data science, machine learning and human behavioral science and creates actions resulting in better supplier collaboration. As seen with KES, our autonomous driven platform produces high-impact results for both buyers and suppliers,” commented Neil Lustig, Arkestro’s CEO.
“Our goal was to find and leverage a technology platform that could provide us with materially significant and measurable value. Arkestro addresses the common barriers to supply chain and procurement success – ‘time, scale, and insight’ across multiple spend types and categories. PPO has opened up our procurement team resources to act on data science insights and recommendations,” explained Mike Downs, KES CIO.
Mike Novello states, “With Arkestro, we were able to transform single source spot buys to multi-supplier, multi-round events in the same amount of time by leveraging Buyer hands-free autonomous negotiation. The results yielded material value, including new suppliers that performed better not just on price but on other value indicators. We achieved significant positive results at scale, thanks to Arkestro.”
Rob DeSantis, Arkestro Co-founder and Board Member, adds, “Arkestro has a unique, six-year history of leveraging data science-directed insights and human behavioral science for material value and supplier collaboration. AI & Machine Learning are used to cross the time, scale and insight chasm. The positive results at KES represent another example of the new age of supply chain and procurement transformation made possible by Arkestro.”
Koch Engineered Solutions provides uniquely engineered solutions in construction; mass and heat transfer; combustion and emissions controls; filtration; separation; materials applications; full engineering, procurement & construction; and utility-scale solar. KES is headquartered in Wichita, Kansas, with offices and manufacturing facilities across the globe, and is a subsidiary of Koch Industries, one of the largest private companies in the world. KES delivers superior value in developing, integrating, and applying innovative technical and service solutions for industrial value chains. More information is available at KochEngineeredSolutions.com.
Founded in 2017, Arkestro’s Predictive Procurement Orchestration (PPO), taps into the power of behavioral science, game theory and machine learning to help companies quickly make their best buying decisions faster across all addressable spend. Top enterprises leverage Arkestro to confidently optimize their procurement cycles with direct actions and clear recommendations, managing spend at scale without increasing headcount. See Arkestro in action at arkestro.com.