Caidentia

Procurement is the process of acquiring goods, services, or works from an external source. It involves activities such as supplier selection, contract negotiation, and ensuring timely delivery.

Sourcing focuses on identifying potential suppliers and selecting the most suitable one. Procurement encompasses the entire process of acquiring goods or services, including sourcing, negotiating contracts, purchasing, and managing supplier relationships.

Procurement is crucial because it helps reduce costs, ensures a steady supply of necessary goods and services, maintains quality standards, and manages supplier relationships. Efficient procurement leads to significant cost savings and operational efficiencies.

The key steps include identifying needs, specifying requirements, identifying suppliers, soliciting bids, evaluating and selecting suppliers, negotiating contracts, and managing orders and delivery.

Strategic sourcing involves analyzing the organization’s spend, identifying cost-saving opportunities, and developing strategic partnerships with suppliers to achieve a sustainable competitive advantage.

Benefits include streamlining the procurement process, reducing costs, improving compliance and transparency, enhancing supplier management, and providing valuable insights through data analytics.

Caidentia is a global SaaS procurement and SRM solution that integrates AI insights to enhance design, sourcing, and procurement processes, driving improved operational performance, execution, and cost savings.

Caidentia provides a management system that covers the entire SRM(Supplier Relationship Management) domain, including but not limited to: Design-to-Source, Source-to-Contract, Procure-to-Pay, Supplier Management, and Spend Management.

Caidentia covers all industries starting from Automotive, Apparel, Chemical, Cosmetics, F&B, Hi-Tech, Oil&Gas, and etc.

Caidentia can be deployed as a cloud-based solution, accessible via the internet, or on-premises, installed on the company’s internal servers.

Clients can selectively use modules they need based on their environment, such as by their unique business processes or key menu units. However, some modules with dependencies require other essential modules to be in place for a full implementation of functionalities.

Costs vary based on features, and scale of use. Pricing models typically include monthly subscriptions or one-time licensing fees.

"Design to Source" typically involves integrating design and sourcing processes to optimize the selection of components, reduce costs, and improve supply chain resilience. This approach leverages real-time data and market intelligence to make informed decisions early in the product development lifecycle.

In Caidentia, AI is applied throughout the entire procurement process, offering various AI-based services such as AI-driven quotation analysis, item price forecasting, and item master duplication checks.

Yes, Caidentia provides APIs for integration with existing ERP systems, ensuring data consistency and centralized process management.

Caidentia is accessible on all browsers, but it is highly recommended to use Firefox, Chrome, or Microsoft Edge for the best experience.

Discrete Buyer Portals for internal users and Supplier Portals for suppliers are offered. Users can access and use these portals through a web browser, without requiring separate software.

It is possible to create multiple IDs with limited and specific accesses within your company. An admin can assign specific access permissions to each ID, ensuring that users have the appropriate level of access required for their roles.

Suppliers will be provided a link to the supplier portal for registration and will proceed through the onboarding process, conducting self-registration. Upon completion of registration and a successful evaluation to determine adequacy or certification, suppliers will be granted an account to access the supplier portal.

The system enforces a policy which prohibits duplicate logins to ensure accurate task and log management.

You can assess your procurement competency and identify gaps against best practices by consulting with an expert from Samsung SDS America or by conducting a self-assessment.

For expert consultation, contact designtopay@samsung.com. For self-assessment, visit here.