On April 17, Atlanta-based supply chain materials intelligence provider Verusen announced the launch of its AI-powered Trusted Supply application, which it said will enable industrial distributors, integrators and suppliers to “maximize visibility into customer demand to grow revenue and improve network resiliency for their customers.” The company announced the new app at the Industrial Supply Association’s 2023 convention in Phoenix.

Verusen said the app features natural language AI models that will help suppliers respond more effectively to customer needs.

“Today, the offering is designed to streamline the RFx process, exponentially improving the match rate for materials requested by customers and prospects, enabling suppliers to respond in hours instead of weeks,” the company said in its announcement.

Future enhancements to Trusted Supply focus on “improving efficiency” and “enhancing revenue generation” with key areas of development, Verusen said. Those areas include:

• Real-time exchange of demand signals with customers.
• Tail spend optimization and contract compliance.
• Collaborative planning capabilities between suppliers and their buyers .

“Entering our third year in market supporting dozens of F500 manufacturers and generating hundreds of millions in savings opportunities for them, we recognized that the next evolution of supply optimization is to simplify buyer-supplier collaboration to build resilient supply networks,” said Paul J. Noble, Verusen Founder and Chief Strategy Officer. “Speed and scale wins. I’m proud that today, Trusted Supply will help remove the friction from the RFx process and that in the future, Trusted Supply will enable real-time collaboration between suppliers and their customers, eliminating data dependent manual processes to make it easier to buy, easier to sell and reduce risk across the supply chain.”

Read more about Verusen’s announcement here.