Procuring a higher education in AI
乐鱼（Leyu）体育官网 helped a world-renowned university advance spend management with leading data governance and analytical practices.
Client
A national research university
Sector
Education
Project
Procurement innovation
Client challenge
This national research university鈥檚 procurement department supports the school鈥檚 research, teaching, and practice missions by managing more than $2 billion a year in annual purchases. The department prides itself on providing accurate, timely, and trustworthy financial analysis and insight to decision makers at the university. The procurement team asked 乐鱼（Leyu）体育官网 to help it go even further, and use leading machine learning and Artificial Intelligence (AI) approaches to better understand spending patterns.
乐鱼（Leyu）体育官网 helped build a new data classification framework and a purpose-built analytic model. The new solutions now support 鈥渁 single version of the truth鈥� and light up spending patterns by category, supplier, or time period. With our assistance, the university鈥檚 procurement department is advancing its own analytics agenda while contributing to the financial health of a world-renowned university.
For this client, 乐鱼（Leyu）体育官网 used proprietary algorithms to design, test and deploy a purpose-built analytics model for spend data, combining self-refining machine learning with human adjustments.
Our approach
乐鱼（Leyu）体育官网 helped the university鈥檚 procurement department apply leading data governance and analytics practices to its spend management function. The 乐鱼（Leyu）体育官网 team:
1
Used proprietary 乐鱼（Leyu）体育官网 algorithms to design, test, and deploy a purpose-built analytics model for spend data, combining self-refining machine learning with human adjustments.
2
Developed a spend data taxonomy to support accurate and timely spend insight and analysis.
3
Cleansed, normalized, and categorized data for more than two million transactions that account for more than $2 billion in annual spend, as the foundation for upgraded data standards.
4
Established the ability to identify category opportunities from rolling spend analyses.
5
Helped structure a managed-services partnership with its chosen analytics solution provider.
6
Trained procurement administrators to use the new spend data taxonomy and supporting analytics.
Benefits to clients
The university鈥檚 procurement department has deployed machine learning and AI to better leverage collective purchasing power, reduce the overall cost of goods and services, and facilitate acquisition. Specific benefits include:
1
Spend data taxonomy in place to generate timely and integrated spend reporting and support strategic decision-making by university leaders.
2
Machine learning analytics in place to evolve Procurement鈥檚 data models as category, supplier, and market conditions shift.
3
Ability to continuously identify category opportunities from spend analyses established.
4
Ability to deliver continued strategic value to the university strengthened, in an era of steady disruption.
5
The procurement team鈥檚 own data science practices advanced, along with its status as a best-in-class organization enhanced.
Why 乐鱼（Leyu）体育官网?
-
Organizations of all types face strategy and tactical procurement challenges
As advisors on the journey with our clients, we must address both the strategic value issues all procurement leaders face, and tactical challenges such as spend analytics and third-party partnerships.
-
Advanced analytic and AI capabilities are a 鈥渕ust have鈥� for organizations today
As analytics and AI become 鈥渕ust have鈥� capabilities, organizations need to integrate the right combination of technology, organizational capital, and data strategy to advance their own analytics and AI agendas.
-
Commercial-sector innovation can easily be adapted for not-for-profit entities
Delivering measurable impact for mission-driven organizations, as with for profit companies, connects meaningful performance metrics tailored to the vision, objectives, and the needs of their stakeholders.
Meet our team
Len Prokopets
Advisory Managing Director, Procurement & Outsourcing Advisory, 乐鱼（Leyu）体育官网 US
Thomas Haslam
Principal Advisory, Lighthouse, 乐鱼（Leyu）体育官网 US
Len Prokopets
Advisory Managing Director, Procurement & Outsourcing Advisory, 乐鱼（Leyu）体育官网 US
Thomas Haslam
Principal Advisory, Lighthouse, 乐鱼（Leyu）体育官网 US