Bloom Energy Taps Arkestro Predictive AI to Optimize Complex Procurement Processes
SAN FRANCISCO, Nov. 9, 2022 /PRNewswire/ -- Arkestro announced today that Bloom Energy (NYSE: BE), the fuel cell innovator for the distributed generation of electricity and hydrogen, is using the Arkestro platform to streamline its highly involved procurement processes. Bloom Energy also joins current industry global category leaders as the latest new member of Arkestro's Corporate Alliance Partner (CAP) Program and will advise on the functionality of new Arkestro products and services.
Arkestro's Predictive Procurement Orchestration pre-embeds preferred outcomes into any organization's system or process. It accomplishes this by simulating AI pricing suggestions to buyers which can be offered to and accepted by suppliers. Arkestro also routes purchases to preferred suppliers and automates buyer-supplier email correspondence, saving significant time and resources. Predictive Procurement Orchestration will enable the Bloom procurement team to influence more spend faster, deliver a lift on savings and align spend with strategic corporate initiatives.
"Using Arkestro to manage procurement will help Bloom Energy consistently select the best suppliers based on a variety of factors including price, quality and availability, and ESG program compliance goals," says Neil Lustig, President, Arkestro. "Exceptional supplier relationships will be instrumental in Bloom Energy's mission to cost-effectively deliver lower carbon energy today and bring its customers closer to a net-zero future."
"At Bloom Energy, we are always seeking ways to improve operational efficiency to maximize stakeholder value," says Glen Griffiths, Executive Vice President, Operations, Services & Quality at Bloom Energy. "We view well-run supply chains, and more specifically, streamlined costs and spend, as a core element of this operational excellence. We are also looking forward to relying on Arkestro's ability to find suppliers that are in line with our corporate sustainability, social and governance goals. We expect Arkestro to be a key partner as we continually enhance our procurement processes."
"We are especially delighted to be a part of Arkestro's CAP program, where we'll have an opportunity to weigh in on future Arkestro products and capabilities," says Satish Chitoori, Senior Vice President, Head of Global Procurement and Supply Chain at Bloom Energy. "Our suppliers benefit greatly as well, since Arkestro automates many of the time-consuming tasks associated with supplier collaboration, like emails and issuing purchase orders. With Arkestro, we become the preferred buyer among our suppliers, and are ideally poised to cultivate and expand our supplier base."
Arkestro is the leading Predictive Procurement Orchestration platform. Built to amplify the impact of procurement's influence, Arkestro helps enterprises deliver a 2-5x lift on cost savings attributed to everyday purchasing and sourcing cycles. Top enterprises leverage Arkestro's behavioral science, game theory and machine learning data science to predict and win faster value across every category of addressable spend. Learn more at arkestro.com
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company's leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com.
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SOURCE Arkestro
