Cofactr

New Blog: The Role of Artificial Intelligence (AI) in Procurement and Supply Chain Artificial intelligence is transforming procurement and supply chain management in ways we couldn't have imagined just a few years ago. 🚀 Here's how AI is revolutionizing procurement and supply chain operations: 🔹 Demand Intake: AI-powered conversational platforms and chatbots are streamlining how business users articulate their needs, freeing procurement teams from endless back-and-forth communications. 🔹 Autonomous Sourcing: AI can now identify predictable purchases, create RFxs, compare bids, and even award them based on preset criteria—handling tail spend without human intervention. 🔹 PO Follow-ups & Expediting: GenAI provides real-time updates on delivery dates and parses supplier responses for exceptions, helping teams proactively mitigate order delay risks. 🔹 Textual Data Analysis: AI can transform unstructured data (emails, PDFs, reports) into structured data, automatically updating your systems when suppliers communicate changes. 🔹 Risk Management: By analyzing macro-level data from diverse sources, AI helps identify the best suppliers and evaluate potential risks from natural disasters or geopolitical events. 🔹 Contextual Recommendations: AI crawls databases across systems to suggest optimal next steps for buyers looking to match requests with existing catalogs and agreements. 🔹 Contract Analysis: Intelligent contract analytics extracts crucial information from contracts, recommends negotiation strategies, and flags compliance issues. 🔹 Invoice Automation: AI solutions reduce errors, accelerate payment times, and identify opportunities for cost savings by matching invoices to POs automatically. The bottom line? AI enables procurement and supply chain teams to grow their supplier base without expanding their workforce, freeing up valuable time for strategic initiatives like relationship development and forecast accuracy. Read the whole blog here: https://lnkd.in/gRwUt3Nb #ProcurementInnovation #SupplyChainTech #ArtificialIntelligence #GenerativeAI #BusinessEfficiency #DigitalTransformation

🌟 Cofactr is proud to support Women in Engineering at #IPCAPEXEXPO 2025! We're honored to sponsor the Women in Electronics Reception, which will feature an incredible panel on work-life balance Jody Urquhart. Through this uplifting and interactive presentation, Jody will entertain you with meaningful insights designed to help professionals cultivate a much-needed, blissful can-do attitude toward fun and fulfilling work. It’s not just what you do that matters—it’s how you feel about what you do. This presentation will be a stepping stone toward building the work-life you’ve always wanted. Highlights: 🎯 Balancing career growth with family responsibilities 🎯 Success stories from women who've done it all 🎯 Practical tips for managing competing priorities 🎯 Building support networks in the industry 🎯 Real talk about challenges and solutions Don't forget to stop by Cofactr's booth #4520 during the expo to chat about the future of hardware manufacturing. Let's celebrate and support women pushing the boundaries in electronics manufacturing. Tag someone who should be there! #WomenInTech #WomeninElectronics #Manufacturing #WomenInEngineering

🍴 ‎CALLING ALL PORTLAND ENGINEERS & FOUNDERS 🍴 ‎ Hardware FYI and Cofactr are excited to announce our next Engineers and Founders Dinner happening April 10 in Portland, Oregon! Join us for an evening of meaningful connections, inspiring conversations, and delicious food with the brightest minds in Portland. Whether you're building the next breakthrough product, scaling your startup, or deep in technical challenges, this dinner is designed to connect you with peers who understand your journey. What to expect: 💡 Curated networking with Portland's top technical talent and founders 💡 Casual, roundtable discussions on the challenges and opportunities in today's tech landscape 💡 No pitches, no formal presentations—just authentic conversations Details: 📅 April 10, 2025 📍 Portland, Oregon (location details sent upon acceptance of RSVP) 🕖 6:30 PM - 9:30 PM Interested? The registration link is in the comments below. Apply today because seats are limited to ensure quality interactions. #Portland #EngineersAndFounders #hardwarefyi 

Day 1 of SATELLITE Conference & Exhibition in Washington DC and Cofactr is in booth #825! Come say hi to Phillip Gulley, Ed Dodd, Nino Hardin, Anthony Blair, Doug Shultz and Libby Melton if you are here! #softwareforhardware #startuplife #manufacturing #supplychain

We are hosting a Webinar: Practical Solutions for Engineering and Trade Compliance in a Changing Tariff Landscape. Make sure to attend it on March 27.

🔥 Don't miss it! On March 27th, we're back for the second session in our Navigating Trade Compliance Webinar Series. For this session we are teaming up with Grant Sernick from 3rdwave to crack the code on engineering-compliance collaboration. Register now!

We'll See You at the DMEMS 2025! We are excited to share that the Cofactr Team will be setting up shop at the Del Mar Electronic & Manufacturing Show this year! You'll find our team geeking out about all things component sourcing at Booth #145. If you've ever wrestled with a BOM spreadsheet at 2 AM trying to source that last impossible-to-find capacitor (we've all been there!), swing by for a chat. Our team will be showcasing how we're tackling the chaos of hardware supply chains with some pretty slick solutions. What we're bringing to Booth #145: Live demos of our component sourcing platform Real-time supply chain visibility tools Our secret weapon against the "out of stock" nightmare Actual humans who understand why that 0201 package size matters Whether you're a seasoned hardware veteran or building your first prototype, stop by for a conversation that doesn't require translating datasheets. #DelMarShow #HardwareEngineering #SupplyChain #ComponentSourcing #ElectronicsManufacturing

Experience Cofactr's unwavering commitment to putting customers first. In this video, our team shares how we build deep partnerships with manufacturers by truly understanding their unique challenges and goals. See how we combine cutting-edge technology with personalized support to create solutions that matter. From rapid response times to customized workflows, discover how our customer-centric approach drives real results in component sourcing and supply chain management. #manufacturing #customersuccess #supplychainsoftware #partnership

🔧 Exciting news for the El Segundo hardware community! Cofactr and Hardware FYI‎ are hosting an exclusive gathering of hardware engineering minds in El Segundo on March 20th. This intimate roundtable brings together hardware engineers, industry leaders, and startup founders for meaningful conversations and connections. 🎯 What to expect: Deep technical discussions with fellow hardware enthusiasts Networking with industry veterans and innovative founders Curated group of ~30 participants for quality interactions 🎟️ Limited spots available - apply now! (Link in the comments below) 📍 Venue details provided upon RSVP confirmation. #HardwareEngineering #ElSegundo #Startup

🛰️ 𝗟𝗲𝘁'𝘀 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗮𝘁 SATELLITE Conference & Exhibition‎ 𝟐𝟎𝟐𝟓! Heading to DC for Satellite? Our team would love to meet you at booth #825 and chat about your hardware challenges. Whether you're dealing with long lead times, supplier management headaches, or traceability requirements, we're here to show you how to make hardware less hard. Book a 1:1 meeting with our team to: ⭐ ‎Get a personalized demo of our platform ⭐ Discuss your specific supply chain challenges ⭐ Learn how other aerospace companies are using Cofactr ⭐ Explore how we can help streamline your operations 🎫 VIP Code: cof922 See you in DC! Drop a comment if you'll be there 👋 #Satellite2025 #Space #Aerospace #SpaceTech #SupplyChain