Predictive Procurement Platform
Arkestro Labs has launched Arkestro Intelligence, a constellation of models running within Arkestro’s core predictive procurement platform, built to enhance and accelerate critical tasks and insights for procurement professionals’ daily work.
Arkestro Intelligence includes models designed for price recommendations, supplier suggestions, predicting upcoming purchases, and tying goods to a commodity index to predict price movements. Arkestro Opportunities, an AI feature powered by this model set, analyzes a user’s purchasing, spend and quoting history against external data sources, like the Federal Reserve Economic Data (FRED) for commodities, to identify savings opportunities. The system then recommends specific, line-item-level actions, such as bundling similar items into a single sourcing event to optimize the supplier base. All recommendations are time-bound, pinpointing specific timeframes in which to act.
These models are built to give users timely, actionable recommendations based on real data. This frees procurement professionals from tactical data-gathering so they can focus on high-impact initiatives. It provides teams with a “closed-loop” system where predictive recommendations can be immediately executed on the same platform, ensuring no value is lost between analysis and action.